Growth Acceleration Strategy 2014 full year results and FY15 outlook Ian Davies, Managing Director and CEO Andrew Price, Chief Financial Officer 26 August 2014
Growth Acceleration Strategy Building Senex into an S&P/ASX 100 oil and gas E&P company Buoyant energy market high east coast Australian gas prices and sustained high oil prices Unbroken 4 year track record of production and…
FY14 Performance Highlights Ian Davies, Managing Director and CEO
Highlights Record performance in oil and the foundations of a material gas business secured Safety performance improved by Total recordable injury frequency rate SAFETY 25% to 6.46 TRIFR1 8.62 1.4 8.44 9 6.46 7 0.9 1.04 1.08…
Senexs oil and gas portfolio Senex has built a major acreage position over the last four years 5
Adding to Senexs diverse Cooper Basin portfolio Awarded additional prime oil and gas acreage in the SA Cooper Basin Senex has been awarded highly contested acreage positions in the South Australian Cooper Basin during the latest…
Cooper Basin gas program de-risked Major farm-out with Origin Energy and Hornet gas sale agreement with SACB JV Origin Energy gas farm-out Area A Area B Additional work program 67 67 (additional) 40 80 (stage 2) 40 40 105…
Record production and revenue Increased operational activity driving strong growth Oil production up 10% to 1.38 million barrels Oil revenue up 24% to 170.9 million Spitfire appraisal campaign contributing strongly to production…
Record 2P oil reserves Strong reserves growth driven by quality acreage 2P oil reserves up 4.5 million barrels to 13.3 million barrels, an organic reserves replacement ratio of 327% Reserves upgraded at Growler, Spitfire and Mustang…
Diversifying the production and reserves base Improving the risk profile of Senexs production base Invested in broader South Australian Cooper Basin asset portfolio in FY14 to diversify and balance the production and reserves base…
Financial Review Andrew Price, Chief Financial Officer
Key financial results Another strong year of performance million unless otherwise stated FY14 FY13 Change Production mmbbls 1.38 1.25 10% Sales revenue 170.9 137.3 24% Gross profit 89.1 70.0 27% Net profit after tax…
Continuing growth in margin High oil prices and reducing operating costs Oil Production (mmbbls) Production (mmboe) Operating cost (/bbl) Production (mmboe) Royalties (/bbl) 2P Oil Reserves Add (mmbbls) 6.00 400% Margin (/bbl)…
Solid underlying profit Another firm year of profit and cash generation million 33.6 1.8 14.4 3.9 5.7 9.8 44.7 43.2 Other includes movement in foreign exchange of 2 million in prior year, drilling rig costs and net…
Strong funding capacity Strong cash flow supported investment in development and growth million 170.9 57.1 77.4 163.2 126.8 35.8 6.5 38.2 89.2 19.1 76.6 Opex and development Growth Other Opening cash Oil revenue Cost…
Growth Acceleration Strategy The road ahead to FY18 Ian Davies, Managing Director and CEO
The Senex Senex Vision is a major player in the Cooper Basin We are a growth-focused oil and gas exploration and production company We care about and support the communities in which we operate We aim to attract and retain the…
Senexs Senex is aoil and player major gas portfolio in the Cooper Basin Senexs vision is backed by quality acreage 18
The Senex Senex assetplayer is a major portfolio today in the Cooper Basin Through careful portfolio management, Senex has an enviable growth pipeline Large pipeline of growth assets: high quality, high equity, Senex operated…
Oil: a great business to be in Robust underlying economics Onshore oil - low cost to discover and develop, quick to market Established oil province in the Cooper Basin means success is well-supported Record high oil prices currently…
Oil: delivering production and reserves growth Our projects 1. Cooper oil exploration Greenfield exploration of Senexs extensive acreage position 2. Cooper oil exploitation Maximising oil recovery from discovered fields through…
Gas: the fuel of the future A material long-term supply opportunity for reliable, efficient operators Unprecedented demand growth on the east coast of Australia in both export and domestic markets Supply pressures and LNG export net…
Gas: building capability, reserves and production Our projects 1. Cooper conventional gas exploration Exploration and appraisal of Senexs extensive acreage portfolio 2. Cooper tight gas Production testing and appraisal of the…
Balancing Senex the portfolio is a major player in the Cooper Basin Diversifying our asset base: geography, product, maturity Cooper Basin OIL Conventional Oil Cooper Basin production Conventional Oil GAS exploitation Hornet…
What success looks like A company with a significant reserves position and material oil and gas production Major growth being targeted in oil and gas reserves and production Double digit returns to shareholders supported by capital…
FY15 Outlook and Guidance Ian Davies, Managing Director and CEO
Focusing Senex on delivering is a major player inour thestrategy Cooper Basin Promoting growth projects in both oil and gas OIL BUSINESS Cooper oil exploration Extensive oil exploration drilling program phase I from the Dundinna…
FY15 seismic and drilling program Laying the foundation for accelerated production and reserves growth Continued investment in new 3D seismic surveys with our joint venture partners High impact Cooper Basin conventional oil…
FY15 guidance Promoting growth projects in both oil and gas FY15 production guidance of 1.4+ mmboe (before exploration success)1 200%+ 2P oil reserves replacement ratio (organic before acquisitions and divestments) Reduction in…
Growth Acceleration Strategy Building Senex into an S&P/ASX 100 oil and gas E&P company Aggressive four year Growth Acceleration Strategy to more than double 2P reserves and production Solid foundations in oil growing production…
Questions
Reconciliation of financial information FY14 FY13 million million NPAT 1 37.9 61.0 Add/(deduct) Gain on sales of assets (1.9) (16.2) Gain on asset held for sale 0.0 (3.7) One off transaction costs 2 4.1 (0.2) Impairment of…
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