Extracting Value Before proceeding to read further, please refer to the Disclaimer on pages 38-39 of this presentation. 1
Table of Contents 1. Resources and Reserves 2. Hibiscus Strategy 3. Planning for Success 4. Value Creation a) Exploration b) Development c) Production 2
Introduction to HPB Market Capitalisation: MYR 1.37 bil (USD 433 mil) Ordinary Shares: 891.6 million 12 month Trading Range: MYR 1.37 MYR 2.68 Average Daily Volume: 897, 146 Debt: Nil Listing: Main Board, Bursa Malaysia 3
Resources and Reserves 2P + 2C Oil Reserves (MMbbls)* Prospective Resources (MMbbls)* 43.0 64.8 6.9 4.3 246.4 8.0 1,135.0 Australia - Sea Lion: 63% (Concession Operator) Australia - West Seahorse : 100%** (Concession…
Resources and Reserves 2P+ 2C Oil Reserves MMbbls JPDA - Kitan 4.31 Australia - West Seahorse 8.02 Prospective Resources MMbbls3 Australia Sea Lion 6.9 RAK - Dahan 43.0 Norway 64.8 Sharjah Zubara 246.4 Oman Masirah Block 50…
Achieving Scale To be a Respected Independent E&P Company 2016 100 MMbbls 2P/2C Reserves Mission 10,000 bbls/day production Advancing assets from Exploration to Production 6
Management Team Dr Kenneth Pereira (Managing Director) Former Managing Director of Interlink Petroleum Ltd, a Mumbai-listed E&P company Chief Operating Officer of SapuraCrest Petroleum Berhad (1997 2008) 200 Joyce Vasudevan (Chief…
Hibiscus Strategy PROSPECTIVE CONTINGENT RESOURCES RESOURCES RESERVES DECREASING RISK Highest value creation takes place in the Cash-flow generated from production /boe, risked exploration phase funds dividends, equity…
Competitive Advantage Virtual Drilling Cost effective and overlay on accelerated conventional development methodology solution Plan for Success DEVELOPMENT EXPLORATION & PRODUCTION 9
Plan for Success Planning for Success offers a compelling RISK / REWARD ratio: Planning for Success requires a very SMALL INVESTMENT The REWARD is potentially 12 18 months earlier First Oil Large Operators have internal processes…
Exploration De-risking Identification of prospects Defining Virtual Choosing well Drilling location While the bulk of G&G takes place Purchasing of Conventional after new seismic is acquired, the long lead items G&G process…
Work Programmes NORWAY 2-9% 13 Licenses Stake Exploration 1H 2015 Drilling MIDDLE EAST one well Oman Block 50 22% Development Stake Q3 2015 Extended Well Test Sharjah Offshore 35% Exploration Stake JPDA 25% Q3 2015 -…
PRODUCTION 13
Kitan Oil Field Asset Name: Kitan Oil Field (JPDA 06105)* Asset Type: Production Country: Joint Petroleum Development Authority (Australia Timor Leste) Acquisition Date: June 2014 Water Depth/ Size: Up to 330m/ 85 km2 Work…
Production Value KITAN OIL FIELD DRILLING in Q3 2014 Cost Control Kitan-3 measures 4.3 mmbbl 2P + 2C Reserves implemented Sidetrack USD 40m* USD 36 m* Initial Acquisition Value USD 18 m GLAS DOWR FPSO * HPB…
DEVELOPMENT 16
West Seahorse Field Asset Name: West Seahorse (VIC/L31) Asset Type: Development Country: Australia Acquisition Date: January 2013 Water Depth/ Size: Up to 150m/ 460km2 Participating Interest: 100%* (Concession operator) Discovery Date:…
Development Value WEST SEAHORSE FIELD DRILLING in Q4 2015 First Oil 8.0 mmbbl 2P + 2C Reserves, USD 82m* Production License and Field MOPU Development Plan approval Initial Acquisition USD 40m* Value USD 36 m WEST…
Oman Story Asset Name: Oman Block 50 Asset Type: Development Country: Oman Effective Date: August 2011 Water Depth/ Size: Up to 150m/ 16,900km2 Participating Interest: 22% (through Lime) Discovery Date: March 2014 (1st offshore…
Drilling Review During a 48-hour test, hydrocarbons were flowed to the surface and the well achieved light oil flow rate of up to 3000 stock tank barrels per day with no water production 20
EXPLORATION 21
Sharjah Offshore Asset Name: Sharjah Offshore Asset Type: Exploration Country: United Arab Emirates Acquisition Date: June 2011 Water Depth/ Size: Up to 350 m/ 1600km2 Work Completed: Seismic Acquisition Mapped drill-ready…
Exploration Value Creation SHARJAH OFFSHORE Discovery DRILLING in Q3 2015 increases GCOS and valuations of Discovery other prospects Made USD 40m** Unrisked Recoverable Exploration Trap GCOS Prospective Resources (mmbbl)…
HiRex Formed in March 2013 Undiscovered Resources No Basin A 41% owned joint venture between Hibiscus Oil Gas (MMBO) (BCFG) Petroleum and Rex International Holdings 1 Central Burma 1,808 12,672 Primarily focused on high-impact…
Forward Strategy Demonstrate good Unearth full value execution of of petroleum upcoming projects system including West discovered in Seahorse and Oman Sharjah A Respected Delivering Independent on Promises E&P company HiRex:…
Forward Strategy 2014 2015 Stage Block A S O N D J F M A M J J A S O N D Sharjah Exploration Sea Lion Norway Oman Block 50 Development West Seahorse Production Kitan 26
Funding Options Successful 50% farm + out of VIC/L31 Utilisation of Development of Potential New Funds Existing Assets Opportunities US 48 million Up to USD 65 million 28
Development of Existing Assets (Figures in USD mm) HPBs Estimated Equity* Debt* Stage Block Cash* Description Expenditure* Financing Financing Drilling three exploration wells Sharjah 2 2 in 2015: Sharjah (50% farm out) , Norway…
New Opportunities Examples of project types being explored Up to USD 65 million Development of proven resources Opportunity 1 30% interest and operatorship Field located in Malaysia Acquisition of producing asset with…
Appendix 31
Capital Structure Capital Structure : 31 August 2014 Non-Independent Directors and Management hold largest block (18.8%) Price Total Number Mkt Cap Diversified shareholder base (RM) RM000 Most large shareholders are involved in or…
Rex Technology: Geographical Coverage EXCLUSIVE USE: ON A PROJECT BASIS: FIRST RIGHT OF REFUSAL: (through Lime) (through Lime) (through HiRex JV) Iran Qatar Norway Malaysia Australia New Jordan Syria Thailand Zealand Kuwait…
Rex Virtual Drilling Conventional Seismic Interpretation Rex Virtual Drilling Interpretation Risk Risk Factor Conventional Rex VD Risking Category Principle P Trap Geometry 0.60 0.95 P Trap An advanced seismic resonance…
Petroleum Economics Increasing Commerciality Low High Undiscovered - Discovered - Prospective Contingent Discovered - High Resources Resources Reserves High Estimate 3C 3P Range of Certainty Best Estimate 2C 2P Low…
Hibiscus compared to Asian listed peers Hibiscus is well positioned compared Market capitalisation (USm)as at 17 July 2014 to Asian mid-cap oil and gas peers 1,018 1,200 Balanced portfolio and an inventory 1,000 661 569…
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