Extracting Value Before proceeding to read further, please refer to the Disclaimer on pages 41-42 of this presentation. October 20141 R2
Table of Contents 1. Resources and Reserves 2. Hibiscus Strategy 3. Planning for Success 4. Value Creation a) Exploration b) Development c) Production 5. Conclusion 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 Free Float: 30% of shareholder base Debt: Nil Listing:…
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 2016 Mission To be a Respected Independent E&P Company Forecast Average Daily Production (2014 2016) Barrels/day 15,000 West Seahorse 100 MMbbls 2P/2C Reserves Block 50 Oman 12,000 Kitan 9,000 10,000 bbls/day…
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 /boe, risked exploration phase Cash-flow generated from production funds when discoveries are…
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 MIDDLE EAST Stake Exploration 1H 2015 Drilling Oman Block 50 22% one well (PL 591) Development Stake Exploration Q3 2015 2H 2015 Drilling Extended Well Test two wells Exploration (PL 708…
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/ 40km2 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
Oman Development Completed within 3 years as opposed to normal cycle of 3 to 5 years Early Q2 2011 2015 2016 2014 2014 Seismic acquisition/ Successful Review of processing and Multi-well License Rig oil discovery technical…
EXPLORATION 22
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 DRILLING in Q3 2015 Discovery increases Discovery GCOS and Made valuations of other prospects USD 40m** Unrisked Recoverable Exploration Trap GCOS Prospective Resources (mmbbl)…
Sea Lion Asset Name: Sea Lion Asset Type: Exploration Country: Australia Acquisition Date: January 2013 Water Depth/ Size: Up to 150m/ 460km2 Work Completed: Mapped drill-ready prospects Upcoming Programme: Drilling of one…
HiRex Source: U.S. Geology Survey Report 2010 Formed in March 2013 A 41% owned joint venture between Hibiscus Petroleum Undiscovered Resources and Rex International Holdings No Basin Oil (MMBO) Gas (BCFG) Primarily focused on…
Hirex Exploration Hirex Petroleum is currently evaluating high potential assets in Cambodia and Malaysia. The company aims to acquire an equity position in at least 2 assets by the end of the year. 27
Drilling Success Hibiscus Traditional Petroleum Players Exploration success 50% 10% 15% rate of finding oil Pre-drilling costs per Under 2 million 4 million well Time required to 4 6 months 1 3 years identify prospects…
Forward Strategy Demonstrate good execution of Unearth full value of upcoming projects petroleum system including West discovered in Oman Seahorse and Sharjah A Respected Delivering Independent on Promises E&P company…
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 30
New Opportunities Examples of project types being explored Development of proven resources Opportunity 1 25% interest in field located in Malaysia Acquisition of producing asset Opportunity 2 Field located in Malaysia…
Closing Comments Work Programme Experience Aggressive schedule with 3 to 5 Experienced and exploration wells in 2015. A success knowledgeable management. in any one would be transformational. Why Geopolitical invest in Growth…
Appendix 34
Capital Structure Capital Structure : 30 September 2014 Price Mkt Cap Non-Independent Directors and Management hold largest block (18.8%) Total Number (RM) RM000 Diversified shareholder base Total Number of Most large shareholders…
Rex Technology Coverage 36
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 - Asian peer Comparison Market capitalisation (USm)as at 17 July 2014 Hibiscus is well positioned compared 1,018 1,200 to Asian mid-cap oil and gas peers 1,000 661 569 800 461 Balanced portfolio and an…
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