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HZN Presentation to Good Oil Conference – Horizon Oil Ltd.

Horizon Oil Ltd. · Sep 12, 2019 · 20 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. HZN Presentation to Good Oil Conference – Horizon Oil Ltd. – slide 1
    RIU Good Oil Horizon Oil Limited Conference 2019 ABN 51 009 799 455 12 September 2019 Michael Sheridan
  2. HZN Presentation to Good Oil Conference – Horizon Oil Ltd. – slide 2
    Compliance Statements Disclaimer Reserves disclosure Statements contained in this material, particularly those regarding the possible or Unless otherwise stated, all petroleum reserves and resource estimates refer to assumed future…
  3. HZN Presentation to Good Oil Conference – Horizon Oil Ltd. – slide 3
    Corporate Overview Good Oil Conference 2019 3
  4. HZN Presentation to Good Oil Conference – Horizon Oil Ltd. – slide 4
    Overview of portfolio China Asia Pacific focus Block 22/12 (Beibu Gulf) 26.95%/55% Material joint venture interests High margin, long life oil production assets in China and New Zealand generating strong Papua New Guinea…
  5. HZN Presentation to Good Oil Conference – Horizon Oil Ltd. – slide 5
    FY19 Full Year Highlights RECORD SALES VOLUME RECORD SALES REVENUE RECORD EBITDAX 1.87 mmbbls US122 million US93 million 13 % 22 % 36 % NET DEBT REDUCED UNDERLYING PROFIT 2P RESERVES INCREASE BEFORE TAX 95% reserves replacement…
  6. HZN Presentation to Good Oil Conference – Horizon Oil Ltd. – slide 6
    Corporate snapshot Key data 1,302M SHARES 2P Reserves1 8.8 mmbl Private shareholders IMC, 31% 126.7…
  7. HZN Presentation to Good Oil Conference – Horizon Oil Ltd. – slide 7
    Portfolio summary Good Oil Conference 2019 7
  8. HZN Presentation to Good Oil Conference – Horizon Oil Ltd. – slide 8
    Block 22/12 China DURING FY19 10% increase in oil sales to 1.3 mmbl with underlying production increasing 16% Two infill wells drilled in WZ 12-8W and WZ 12-8M fields brought onto production in August 2018 with initial flow rates of…
  9. HZN Presentation to Good Oil Conference – Horizon Oil Ltd. – slide 9
    Maari/Manaia Fields - New Zealand DURING FY19 33% production increase during the year to 0.6 mmbl driven by full year benefit of 2018 acquisition of additional 16% of project, production optimisation activities and increasing benefit…
  10. HZN Presentation to Good Oil Conference – Horizon Oil Ltd. – slide 10
    Papua New Guinea portfolio DURING FY19 Material (30%) interests held in four licences in Western Province which hold gas/condensate fields with gross aggregate audited resources of 64 mmbbls of condensate and 2,200 PJ of sales gas…
  11. HZN Presentation to Good Oil Conference – Horizon Oil Ltd. – slide 11
    Reserves & Contingent Resources AT 30 JUNE 2019 2P RESERVES RECONCILIATION Record sales of 1.87 mmbo and strong year of underlying production of 1.6 mmbl 8.9 8.8 1..6 Net 2P reserves additions of 1.8 mmbl (after economic 2.1…
  12. HZN Presentation to Good Oil Conference – Horizon Oil Ltd. – slide 12
    Financial summary Good Oil Conference 2019 12
  13. HZN Presentation to Good Oil Conference – Horizon Oil Ltd. – slide 13
    Financial Highlights OIL SALES (mmbbls) REVENUE1 (USm) 1.87 140.0 80.0 1.65 0.29 120.0 70.0 1.42 0.31 1.38 60.0 1.21 0.30 100.0 50.0 1.00 80.0 80.1 US/bbl USm 0.90 0.86 70.5 40.0 68.9 0.93 60.0 35.5 0.80 30.0 Cost…
  14. HZN Presentation to Good Oil Conference – Horizon Oil Ltd. – slide 14
    Financial Highlights EBITDAX AND COST PER BBL UNDERLYING PROFIT BEFORE TAX (USm) 100.0 30.0 90.0 25.0 80.0 70.0 37.3 20.0 60.0 93.0 US/bbl 18.9 USm 50.0 15.0 89.1 2.2 40.0 68.5 8.7 54.0 45.2 10.0 30.0 (8.7)…
  15. HZN Presentation to Good Oil Conference – Horizon Oil Ltd. – slide 15
    Financial Highlights FREE CASH FLOW (USm) NET DEBT(USm) 72.8 58.8 57.6 44.2 35.6 138.8 (7.7) (10.2) 131.9 (30.1) (37.7) 108.5 (95.3) 88.6 Investing CF Operating CF FCF* 28.0 2015 2016 2017 2018 2019 2015 2016 2017 2018…
  16. HZN Presentation to Good Oil Conference – Horizon Oil Ltd. – slide 16
    Outlook Strong production growth and cashflow providing pathway to further growth Pursue and promote production Continued strong cashflow Optimise enhancement opportunities at Strengthening generation enabling progressive Maari/Manaia…
  17. HZN Presentation to Good Oil Conference – Horizon Oil Ltd. – slide 17
    For more information please contact: Michael Sheridan Chief Executive Officer Horizon Oil Limited T: +61 2 9332 5000 F: +61 2 9332 5050 Level 6, 134 William St Woolloomooloo NSW 2011 E: infohorizonoil.com.au horizonoil.com.au
  18. HZN Presentation to Good Oil Conference – Horizon Oil Ltd. – slide 18
    FY19 Financial Results (US million) FY19 FY18 Change (%) Production volume, mmbbl 1.60 1.32 22% Material increase in sales and production volumes Sales volume, mmbbl 1.87 1.65 13% Revenue 122.4 100.0 22% EBITDAX 93.0 68.5 36%…
  19. HZN Presentation to Good Oil Conference – Horizon Oil Ltd. – slide 19
    Key Cashflow Drivers US million 126.7 (4.3) (28.1) (15.0) (6.5) (68.7) 72.8 (7.5) (2.7) 27.6 21.5 Opening cash Crude oil sales Hedge settlements Opex Corporate & tax Interest Net cash inflows Debt repayment Investment…
  20. HZN Presentation to Good Oil Conference – Horizon Oil Ltd. – slide 20
    Underlying Profit Drivers 50.0 US/bbl FY2018:64 45.0 FY2019:68 1.2 40.0 1.8 (1.5) 3.7 (9.9) 35.0 6.6 2.6 30.0 25.0 14 20.0 37.3 15.0 10.0 18.9 5.0 - Underlying profit Sales volume Sales price Hedge Operating costs…

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