HORIZON OIL LIMITED ABN 51009799455 Investor Presentation October 2014 This presentation contains some references to forward looking assumptions, representations, estimates and outcomes. These are uncertain by the nature of the…
Horizon Oil Snapshot Market capitalisation of A365m at A0.28 per share on 3 Oct 2014 (1,301.9m shares) Current net production: Maari/Manaia 850 bopd priced at Brent plus US5-6 Beibu Gulf 3,200+ bopd priced at Brent less US4 Current…
Shareholder Distribution and Trading Statistics Sep - Oct 2014 (to date) Last 0.280 High 0.390 Low 0.280 Volume 59,485,309 12 Months Last 0.280 High 0.390 Low 0.280 Volume 645.05m Fully paid shares 1,302m 1 Partly paid…
Geographic Focus and Asset Location * * PRL 4: Subject to Government approval 7 October 2014 4
Investment Proposition Focused Asia Pacific E&P specialist Strong, long-lived cashflows from Maari/Manaia fields, offshore New Zealand, re-invested to fund future capital program. Low risk, new reserves appraisal drilling and…
Net Reserves1, Contingent Resources1 and Prospective Resources1 as at 30 June 2014 RESERVES CONTINGENT RESOURCES PROSPECTIVE RESOURCES Proven + Probable Proven + Probable Best Estimate Block 22/12 PDL 10 (Stanley Block 22/128 PMP…
Forecast Net Production From Reserves + Contingent Resources as at 1 October 2014 Includes historical production prior to 31 December 2013 Based on proven and probable reserves and contingent resources, estimated in accordance with…
Significant Recent Achievements Successful sale of 40% of PNG assets to Osaka Gas Horizon Oil entered into agreement in May 2013 to sell 40% of its PNG assets to Osaka Gas Co. Ltd. of Japan for US204 million, including US74 million in…
Upcoming News Flow and Share Price Catalysts Timeframe Progress on Stanley field development execution Ongoing to 2016 Improved production performance from Maari/Manaia fields and progress on Ongoing to Q1 2015 field upgrade…
Maari /Manaia Fields New Zealand PMP 38160: HZN 10% OMV 69% (Op) Todd 21% CUE 5% Gross reserves 2P (mmbo) as at 1 January 2014 (RISC estimate) Produced 22.0 Remaining 60.0 7 October 2014 10
Maari/Manaia Key Points Wellhead platform / FPSO development in 100 m water depth Maari Moki zone developed with 5 producer wells and 3 water injectors field developed on basis of 60 mmbo recoverable reserves; successful…
Maari Field Development Assets 7 October 2014 12
Maari /Manaia Upside Potential 7 October 2014 13
Maari/Manaia Growth Projects Objective to reconfigure water injection scheme, access undeveloped reserves and optimise production 7 October 2014 14
PEP 51313 New Zealand Deep prospect and lead inventory with 74 mmbo exploration potential PEP 51313: HZN 21% OMV 30% (Op) Todd 35% CUE 14% 7 October 2014 15
Beibu Gulf Fields, China Development Areas Block 22/12 Post-CNOOC Back-in: HZN 26.95% CNOOC 51.00% (Op) ROC 19.60% Majuko Corp 2.45% Gross reserves 2P (mmbo) as at 1 January 2014 Produced 3.0 Remaining 24.4 7 October…
Beibu Gulf Fields Key Points Two phase development in 40 - 60 m water depth utilising CNOOC platform facilities, export pipeline and terminal on Weizhou Island Phase 1 platforms WZ 6-12 and WZ 12-8W connected by pipeline to PUQB…
Beibu Gulf Fields Phased Development Scheme 7 October 2014 18
WZ 12-8E Early Production Concept Phase II Leased mobile production platform Flexible pipeline Initially up to three production wells Run extended DST or pilot production Drill more wells (4-5) depending on production…
Papua New Guinea Horizon Oil acreage position expanded to 7,900 sq km, primarily in wet gas sweet spot 7 October 2014 20
PNG Exploration and Development Program Key Points Commanding 7,900 sq km acreage position in liquids-rich sweet spot of foreland area with certified combined Horizon Oil & Osaka Gas condensate and gas reserves and resources of 135…
Horizon Oil Acreage and Joint Venture Partners PDL 10: HZN 30% Osaka Gas 20% Talisman 40% Mitsubishi 10% PRL 4*: HZN 33.33% Talisman 44.45% Osaka Gas 22.22% PRL 21: HZN 27.0% (Op) Osaka Gas 18.0% Talisman 32.5% Kina…
Stanley Project Concept Facilities 2 train, 140 mmscfd gas refrigeration plant Mercury removal via adsorption catalyst beds Gas sales at plant fence, addition gas recycled to enhance liquids recovery 6 inch, 40 km pipeline to…
Stanley Production Facility Site 7 October 2014 24
Kiunga Base and Condensate Loadout Facility 7 October 2014 25
PRL 21 (Elevala/Tingu and Ketu) Development Concept 7 October 2014 26
PNG Gas Commercialisation Options Sales to regional buyers for power generation Ok Tedi Mining Limited (OTML) and Frieda River project (when sanctioned) Local towns and communities in Kiunga OK Menga Frieda River corridor Export…
Upcoming News Flow and Share Price Catalysts Timeframe Progress on Stanley field development execution Ongoing to 2016 Improved production performance from Maari/Manaia fields and progress on Ongoing to Q1 2015 field upgrade…
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