Agenda Introduction Tony Durrant Production Garry Stoker Solan Robin Allan Catcher Tamara Sebire Exploration Toby Garwood Finance Aurangzeb Bozdar Summary & Outlook Tony Durrant August 2014 P2
Production Garry Stoker Group Development & Operations Manager
Production higher operating efficiency North Sea Vietnam Strong performance from Chim So achieved B-Block and Wytch Farm 25 mmbbls milestone Higher production from Dua on-stream Huntington and Rochelle Production (kboepd)…
Chim So significant operational improvements Additional diesel Persons on board Dua on-stream generators installed Boilers upgraded increased Operations improvement project Operating efficiency improved from 70% in 2013 to…
Balmoral improving operating efficiency & delivery capacity Power generators Reinstatement Operations recommissioned of wells improvement project 1 million man-hours without a LTI Production in 2014 1H up 48% on 2013 August…
Solan Robin Allan Director Business Units
Solan significant progress made DECC approval of FDP Drilling Phase 1 Drilling Phase 2 Tank lowered to seabed Drilling Phase 3 BiFab to build jacket & topsides Jacket progress Tank sailaway Topsides installation Today 2012…
Solan drilling and subsea update Drilling P1 completed; good flow rates achieved W1 nearing completion Phase 3 drilling campaign in 2015 to complete P2 and W2 Subsea oil storage tank Construction completed; sailed from Dubai in…
Solan platform update Jacket loaded out and Construction Topsides installation Hook up and of jacket and ready for load by Heerema commissioning topsides out prior to Thialf to prior to first oil completed installation commence…
Catcher Tamara Sebire Catcher Area Development Manager
Catcher 1H highlights All approvals received JV sanction in April Government (DECC) approval of FDP in June Major contracts awarded Experienced project team in place to deliver first oil in summer of 2017 Robust project…
Catcher execution phase progressing to schedule FPSO Drilling Contract awarded to BWO Contract awarded to Ensco 7yrs + options Commence mid-2015 Model tank Mooring BWO financing in place testing site survey 14 producers, 8 water Key…
Catcher look ahead Experienced project team Future opportunities 250 years project delivery experience across Reservoir upside leadership team Bonneville and Carnaby Cost certainty Exploration wells planned Leased FPSO for 2016 Lump…
Exploration Toby Garwood Western Region Exploration Manager
Kenya Block 2B, southern Anza Basin Premier equity 55% Albertine Basin Anza Basin Play opening test of the Tertiary 2.5 Bbbls discovered in All 10 wells drilled Tertiary fields have oil / gas shows Badada prospect Robust closure…
Norway Mandal High Myrhauk well Q2 2015 Play opening test Robust closure Gross prospective resource: 10-50-135 mmboe Significant running room 500 mmboe unrisked gross prospective resource Similar play elements as at…
North Falklands Basin a proven, well calibrated petroleum system Basement structure Mature oil source kitchen area F3 reservoir distribution Blue = Deep Brown = oil Red = Shallow generating source rock Sea Lion and…
North Falklands Basin 2015 exploration drilling campaign objectives Isobel Jayne Zebedee Chatham Deep East 1. SL western gas 28 fans cap appraisal identified 2. Extend F2 play South 3. Deepen play Chatham into F3 4. Prove-up…
North Falklands Basin impact of 2015 exploration on development volumes Most likely Upside Chatham (mmbbls) Discovered prospective prospective Sea Lion western gas cap Phase 1 308 387 448 appraisal If no gas, adds 60 mmbbls to…
North Falklands Basin material and under-explored Falklands North Sea Premier licences 2441km2 / 942.59 miles2 Maps to same scale Premiers acreage covers an area equivalent to 55% of the North Sea South Viking Graben…
Finance Aurangzeb Bozdar Group Financial Controller
Increasing profitability 6 months to 6 months to Operating costs (US/bbl) 30 June 2014 30 June 2013 1H 2014 1H 2013 Working Interest production (kboepd) 64.9 58.6 UK 35.0 39.0 Indonesia 10.3 9.4 Entitlement production (kboepd) 59.8…
Strong, rising cash flows 6 months to 6 months to 30 June 2014 30 June 2013 USm USm Cash flow from operations 609 488 Capital expenditure (m) 1H 2014 FY 2014(e) Taxation (110) (117) Exploration 91 180 Development 415 1,000…
Liquidity and balance sheet position At At 30 June 2014 31 Dec 2013 Drawn debt maturity profile (including m m Letters of Credit) Cash 255 449 700 Bank debt (721) (686) 600 US millions 500 400 Bonds (997) (992) 300…
Outlook Tony Durrant CEO
Building on our track record and delivering our short term targets Production guidance Dua, GSA5, Kyle, Pelikan 5 kboepd above guidance 58-63 kboepd and Naga Catcher sanction Government approval received from DECC Refinance 2015…
Looking forward 1) Deliver on short term targets for cash flow growth and balance sheet strength 2) Utilise share buybacks to buy undervalued barrels 3) Selective growth using existing strengths August 2014 P28
Q&A
21 August 2014 www.premier-oil.com Premier Oil Plc 23 Lower Belgrave Street London SW1W 0NR Tel: +44 (0)20 7730 1111 Fax: +44 (0)20 7730 4696 Email: premierpremier-oil.com
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