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Dana Gas Equity Investors Presentation – Dana Gas

Dana Gas · Jun 30, 2014 · 32 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Dana Gas Equity Investors Presentation – Dana Gas – slide 1
    Clean Energy For the MENA Regions Tomorrow Dana Gas Equity Investors Presentation June 2014 www.danagas.com 1
  2. Dana Gas Equity Investors Presentation – Dana Gas – slide 2
    Presentation Outline MENA Opportunities Dana Gas Introduction and Profile Recent Performance Country Operations Valuations Summary www.danagas.com 3
  3. Dana Gas Equity Investors Presentation – Dana Gas – slide 3
    MENA region holds ca. 50% of global oil & gas reserves but with limited access. Dana Gas has presence in the large markets with open access Oil & Gas Proved Reserves (Source: BP Statistical Review 2013) 1669 6614 MENA Reserve Ranking…
  4. Dana Gas Equity Investors Presentation – Dana Gas – slide 4
    MENA oil & gas production has grown steadily since mid-80s. From 1990, gas production has grown 4x while oil production has grown 1.5x MENA Oil & Gas Production (Source: EIA) www.danagas.com 5
  5. Dana Gas Equity Investors Presentation – Dana Gas – slide 5
    Natural gas has become the dominant energy source for primary energy demand in the MENA region MENA GDP vs Population Primary Energy Demand Growth (Source: IMF) (Source: EIA) MENA Gas Consumption Pattern (Source: BP…
  6. Dana Gas Equity Investors Presentation – Dana Gas – slide 6
    Given strong gas demand fundamentals and resource potential, Dana Gas is uniquely positioned to grow across the region Reserve & Resources Dana Gas is operating at the heart of the worlds largest hydrocarbon bearing region…
  7. Dana Gas Equity Investors Presentation – Dana Gas – slide 7
    Dana Gas: Independent E&P company listed on the ADX Dana Gas is operating at the heart of the Dana Gas is a MENASA focused gas Worlds Largest Hydrocarbon region independent headquartered in the UAE Dana Gas is quoted in the UAE…
  8. Dana Gas Equity Investors Presentation – Dana Gas – slide 8
    Board of Directors consisting of luminaries from the MENA region providing unparalleled access to key markets Dr. Adel Al Sabeeh Sheikh Sultan Bin Ahmed Dr. Tawfeeq Al Moayed Ahmed Al Arbeed Chairman Al Qasimi Deputy Chairman…
  9. Dana Gas Equity Investors Presentation – Dana Gas – slide 9
    Board of Directors consisting of luminaries from the MENA region providing unparalleled access to key markets Ahmed Al Midfaa Abdullah Al Majdouie UAE Varouj Nerguizian Nasser Al Nowais Salah Al Qahtani SAUDI ARABIA Chairman of…
  10. Dana Gas Equity Investors Presentation – Dana Gas – slide 10
    International and Experienced Management Team Patrick Allman-Ward Mark Fenton Robinder Singh CEO Duncan Maclean GM - Egypt IR Director Commercial and Bus. Dev. Over 30 years in the Oil & Gas Director Over 28 years of experience…
  11. Dana Gas Equity Investors Presentation – Dana Gas – slide 11
    Consistent growth and delivery since 2007 Revenue EBITDAX Profit After Tax www.danagas.com 12
  12. Dana Gas Equity Investors Presentation – Dana Gas – slide 12
    Dana Gas: Recent Performance Highlights www.danagas.com 13
  13. Dana Gas Equity Investors Presentation – Dana Gas – slide 13
    Strong performance trend (Q1 2014 vs Q1 2013) driven by sustainable volume growth and improving realisation Revenue: Up 18% Y-o-Y Gross Profit: +16% YoY Significant growth in revenue due to higher production Sharp increase in gross…
  14. Dana Gas Equity Investors Presentation – Dana Gas – slide 14
    Robust operational performance (Q1 2014 vs Q1 2013) resulting from high quality assets and key investments 45 Egypt Production: Up 19% Y-o-Y KRI Production: Up 5.8% Y-o-Y 35 40 39.4 39.5 39.5 30 35 Production (kbopd)…
  15. Dana Gas Equity Investors Presentation – Dana Gas – slide 15
    Dana Gas: Country Business Highlights www.danagas.com 16
  16. Dana Gas Equity Investors Presentation – Dana Gas – slide 16
    Despite a challenging business environment; Egypt gas fundamentals are robust Egypt GDP (USD bln) Egypt Primary Energy Demand (mln toe pa) Gas consumption in Egypt to exceed Onshore Nile Delta steady and production for first time…
  17. Dana Gas Equity Investors Presentation – Dana Gas – slide 17
    Egypt: Nile Delta Operations Development Leases: Balsam (Awarded) El Wastani Begonia (Under Discussion) El Basant (Amended) Sama (Amended) Production: 39.1 kboepd ( Q1 2014 Avg) Balsam DL Projects: El Basant DL EW…
  18. Dana Gas Equity Investors Presentation – Dana Gas – slide 18
    Consistent Increase in Nile Delta Production Plant shutdown for capacity Q4 increases enhancement and Q2/Q3 increases Salma start-up replacement of PSVs SAEN rich gas start-up and ramp production optimization up production…
  19. Dana Gas Equity Investors Presentation – Dana Gas – slide 19
    Block 6 North El Arish Offshore Opportunity Awarded :April 2013 Area : 2980 sq km Governmental ratification received in 2014 Seismic acquisition in 2014/15 1 well commitment in Phase 1 Prospective acreage adjacent to…
  20. Dana Gas Equity Investors Presentation – Dana Gas – slide 20
    Dana Gas Kurdistan Assets Substantial Resources Upside* Pearl Petroleum appointed Gaffney, Cline & Associates Limited (GCA), to provide an estimate of hydrocarbons in-place as at 31st December, 2012 for both the Khor Mor and…
  21. Dana Gas Equity Investors Presentation – Dana Gas – slide 21
    Khor Mor and Chemchemal are potentially largest gas fields in the KRI and comparable to large scale gas developments in the region Large Gas Developments in MENA (Source: Company disclosure) Kurdistan Gas Fields Key MENA gas…
  22. Dana Gas Equity Investors Presentation – Dana Gas – slide 22
    Operations in Kurdistan Region of Iraq Invested over 1.8 billion since inception Regions leading producer and largest domestic supplier of hydrocarbons JV operations with Dana Gas at 40% (average production of 29,300…
  23. Dana Gas Equity Investors Presentation – Dana Gas – slide 23
    Rich gas and condensate producer with strong growth track record Kor Mor Field Production, Dana Gas net share 35 Gas 30 Production (kboed) Liquids(Condensate + LPG) 25 20 15 10 5 0 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10…
  24. Dana Gas Equity Investors Presentation – Dana Gas – slide 24
    UAE: Zora Project Update Project Management team on board Overall Project Actual progress is in line with plans for first gas in 1H 2015 with a capacity of 40 mmscfd (6,650 BOEPD) Platform fabrication contract awarded and the…
  25. Dana Gas Equity Investors Presentation – Dana Gas – slide 25
    Dana Gas: Relative Valuations www.danagas.com 26
  26. Dana Gas Equity Investors Presentation – Dana Gas – slide 26
    EV and Production valuation relative to peers Enterprise Value vs. Production EV (bn) 2013 Production (kboepd) 2013 YE Production (kboepd) 15 7.7 5 90 Enterprise Value ( bn) 80 4 70 60 3 50 2.2 2 40 30 1 20 10 0…
  27. Dana Gas Equity Investors Presentation – Dana Gas – slide 27
    Significantly undervalued relative to peers EV/EBITDA P/E 12 60 10 50 EV/EBITDA 2014e (x) Median* 8.2 P/EPS 2014e (x) 8 40 6 30 56.7 10.66 10.54 9.07 Median* 17 4 7.27 20 5.26 29.5 2 4.31 4.3 10 19.9 14.2 13.2 10.9…
  28. Dana Gas Equity Investors Presentation – Dana Gas – slide 28
    Increased liquidity following Sukuk conversions impacting recent performance Dana Gas: Share price performance (AED/share) 1.25 Share price performance (AED/share) 4 3 5 6 1.00 7 0.75 1 2 Issuance of new Dana Gas equity…
  29. Dana Gas Equity Investors Presentation – Dana Gas – slide 29
    Relative share price performance of Dana Gas Relative Performance (Source: Bloomberg) 75% Signed an agreement for the Upgrading the El S&P GCC 40 Index +45% Wastani plant in North El Arish Egypt to increase Concession in the…
  30. Dana Gas Equity Investors Presentation – Dana Gas – slide 30
    Summary www.danagas.com 31
  31. Dana Gas Equity Investors Presentation – Dana Gas – slide 31
    Summary Achieved excellent results due to an increase in overall production and sales, and tighter control of operational and capital expenditure Macro-economic challenges faced by Egypt remain an area of concern Seeking a solution…
  32. Dana Gas Equity Investors Presentation – Dana Gas – slide 32
    Reach Us: Dana Gas PJSC P. O. Box 2011, Sharjah, UAE www.danagas.com E-mail : rsinghdanagas.com Direct : +971 6 519 4401 Fax : +971 6 556 6522 www.danagas.com 33

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