Clean Energy For the MENA Regions Tomorrow Dana Gas Equity Investor Presentation March 2014 www.danagas.com 1
Presentation Outline The MENA Region and its relevance Dana Gas: A Brief Overview Recent Performance Country Operations Valuations Summary www.danagas.com 3
Focused on a region that holds the largest share of global conventional oil & gas reserves and production Proved Gas Reserve (2012) Global Gas Production (2012) MENA oil production outlook 35% of global oil production 6614 Tcf…
Natural Gas fast becoming the Fuel of Choice for the growing energy demand in MENA and else where Growing economies fueling demand for Global Population Trends energy (Source: UN) 70% less CO2 than coal in power generation (old…
Fast growing domestic demand in MENA MENA Primary Energy Demand MENA Country Primary Energy Mixes3 (Source: EIA) (Source: BP Statistical Review 2013 & IEA Data) CAGR of gas consumption 7% Percentages represent gas consumption…
Dana Gas: A Brief Overview www.danagas.com 7
Independent E&P company listed on the ADX Dana Gas is a MENASA focused gas Dana Gas is operating at the heart of the Worlds independent headquartered in the UAE Largest Hydrocarbon region Dana Gas is quoted in the UAE stock…
Board of Directors consisting of luminaries from the MENA region provide 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…
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…
Portfolio with substantial upside www.danagas.com 11
Proven track record based on top class exploration, accelerated development and inorganic opportunities Value Delivery Model Drill bits success Nile delta exploration success Reserve growth Exploration Nile Delta Exploration…
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…
Largest independent gas producer amongst regionally owned peers Reserve Ranking of MENA region owned Independent E&P companies 1800 (Source: Woodmac) WI Commercial and Technical Reserves 1600 Commercial 5 1400 (mmboe)…
Key Financial Metrics have doubled in 6 years Revenue: Profit After Tax: 800 180 700 160 600 140 120 USD Million USD Million 500 100 400 690 80 165 156 300 636 652 138 487 60 200 349 40 282 311 100 20 33 43 30…
Dana Gas: Recent Performance Highlights www.danagas.com 16
2013: Several Achievements Despite Several Challenges Higher average production of 64,700 BOEPD vis--vis 2012s average of 59,800 BOEPD - Egypt production at 37,100 BOEPD higher by 14% on a Y-o-Y basis, while KRI production remained…
Financial Highlights: Q4 2013 vs Q4 2012 Percentage (In million) Q4 2013 Q4 2012 Change Gross Revenue 186 151 23 Net Profit 35 31 13 Basic EPS (AED fils) 1.9 1.7 12 Higher production in Egypt (increase of 22%) and resumption…
2013 Y-o-Y Financial Performance Percentage (In million) 2013 2012 Change Gross Revenue 652 633 3 Net Profit 156 165 (5) Basic EPS (AED fils) 8.6 9.2 (6) Gross revenue higher by 3% due to an 8% increase in production Net…
Dana Gas: Country Business Highlights www.danagas.com 20
Egypt: Business Environment Lack of investments resulting in a declining rate of gas exports whilst the domestic consumption of gas has been increasing Since the recent change of government in mid-2013, Saudi Arabia, Kuwait and the…
Meaningful position in rich hydrocarbon zones in Egypt 20 Egypt Proved Oil and Gas 18 Gas Reserves History Oil and Gas Reserves, Bn boe 16 Egypt has managed c. Dana Gas focus area in Egypt 14 Oil 100% reserves 12 replacement…
Egypt: Nile Delta Operations New Development Leases: Balsam ( new ) El Wastani Begonia (under EGAS discussion) El Basant (Amendment) Sama (Amendment) Production Rate: 39.8 kboepd ( Q4 2013 Avg) Drilling 2013: 5 wells (1 Expl…
Largest Investor and gas producer in high-potential Kurdistan Region of Iraq Oil Resource Potential Gas Resource Potential (Source: ANP,MNR,USGS) (source: MNR, ANP, Songas) 70 Resource Potential 60 120 Gas Resource…
Rich gas and condensate producer with strong growth track record Kor Mor Field Production, Dana Gas net share Current Condensate Gas Ratio (CGR) on Khor Mor is ca. 45 bbl/mmscf comparable to Qatar North Field CGR of 4750…
Operations in Kurdistan Region of Iraq Total net production averaged at 27,600 BOEPD during 2013: 130 MMSCFD of natural gas 5700 bbl/d and 325 bbl/d of condensate and LPG, respectively Completed repairs to LPG loading bay…
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…
UAE: Zora Gas Field Development Update Project Management team on board Platform fabrication and loadout contract awarded in November 2013 to ADYARD Work in progress for the following: Contract for platform transportation and…
EV and Production valuation relative to peers Enterprise Value vs. Production EV (bn) 2013 Production (kboepd) 13.4 6.2 5 90 H1 2013 Production (kboepd) Enterprise Value ( bn) 80 4 70 60 3 50 2 2.2 40 30 1 20 10…
Significantly undervalued relative to listed peers in international markets P/E ranking of Dana Gas Peers (Source: Bloomberg Consensus 4th February 2014) 60 2014e 50 2015e 40 P/E (X) 30 20 10 0 www.danagas.com…
Increased liquidity following Sukuk conversions impacting recent performance www.danagas.com 33
Summary www.danagas.com 34
Summary Increase in uplift of LPG in KRI following repairs to the loading bay a positive for future profitability Drilling success in 2013 and Block 6 in Egypt and the commencement of the Zora project and provide visibility for…
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 36
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