COMPANY UPDATE Alan Linn Chief Executive Officer Wednesday 18 June 2014
COMPANY OVERVIEW ROC is an experienced operator delivering sustainable financial results and committed to deploying its capital prudently to create value growth for shareholders Sales revenue (USM) 15 years of operational…
PRODUCTION & DEVELOPMENT REGIONAL FOCUS - SOUTH EAST ASIA, CHINA AND AUSTRALIA Zhao Dong, Offshore Bohai Bay, Beibu Gulf, Offshore China China Contributing 33% of 1Q14 ROCs largest operated asset; production of 13,330 BOPD…
DEVELOP AND GROW EXPLORATION & APPRAISAL Identify and secure value adding low risk opportunities in established petroleum provinces across South East Asia, China and Australia 3D seismic acquisition completed on Block 09/05;…
COMMITMENT TO GROWTH We are focused on value growth opportunities and building the future production life for ROC shareholders within our target regions Recent Achievements Award of Block M07, Offshore Myanmar Sale of BMG,…
PROPOSED ROC/HORIZON MERGER The merger is a transformational deal offering both a compelling value proposition and a strategic rationale for both companies. The merger: Produces a larger and more relevant regionally focused…
ROC/HORIZON MERGER RATIONALE Creating a leading Asian E&P company Highly complementary portfolios Asian focused portfolio with attractive assets across China, PNG, Malaysia, Myanmar and Australia / New Zealand Consolidates the…
COMPLEMENTARY PORTFOLIOS China Cliff Head (Bohai Bay) (Australasia) Zhao Dong C&D Cliff Head WA-31L Fields: 24.5% 42.5% Zhao Dong C4 Field: 11.667% TH Zhanghai and Chenghai: 39.2% Block 09/05: 100%1 China New Zealand…
STRONG, WELL BALANCED GROWTH PIPELINE Exploration Appraisal Development Production Elevala / Ketu Stanley Maari / Manaia PPLs 259, 430, 372, 373 PRL 21 PDL 10 (formerly PRL 4) PMP 38160 Matariki Balai Cluster RSC Beibu…
DIVERSIFIED RESOURCE BASE Horizon Oil (as at 1 Jan 2014) ROC (as at 1 Jan 2014) Combined 100% oil / --% gas 93% oil / 7% gas 96% oil / 4% gas 3.8 3.8 2P (mmboe) 6.0 6.5 6.0 14.9 15.9 8.4 17.4 33.3 3.4 5.2 3.4…
INDEPENDENT EXPERT REPORT ON MERGER The ROC Board commissioned Grant Samuel to prepare an Independent Experts Report on the Merger. In Grant Samuels opinion, the terms of the Merger are fair to ROC shareholders . The Merger…
KEY CONCLUSIONS OF THE INDEPENDENT EXPERT The Merger is a genuine merger of equals rather than a change of control transaction The Merger terms have been agreed on a nil premium basis, with ROC and Horizon Oil shareholders to hold…
TRANSACTION STRUCTURE RATIONALE The value and strategic rationale for ROC acquiring these assets is compelling. The Board of ROC is unanimous in believing that the proposed merger will create a transformational change in value for all…
VALUATION OF ROC AND HORIZON OIL AS DETERMINED BY GRANT SAMUEL Grant Samuels Relative Contribution Full Underlying Value (USm) Grant Samuel Estimates of Value1 ROC Horizon Oil Value Contribution High (US million) 507 721…
CONTACT For further information: Renee Jacob Group Manager Investor Relations & Corporate Affairs +61 2 8023 2000 rjacobrocoil.com.au www.rocoil.com.au SLIDE 16
APPENDICIES SLIDE 17
HSEC PERFORMANCE Continuing to work to create the safest possible workplace and environment for our teams and the communities in which we work 2 2013 LTIFR Health & Safety ROC Asset Integrity Management system integration…
CHINA ZHAO DONG OIL FIELDS Location: Offshore Bohai Bay, China C&D (+ERA) 24.5% Working Interest: Zhanghai and Chenghai Blocks 39.2% C4 Field 11.667% (unitised) Operator: ROC JV partners: PetroChina and Sinochem 4 linked…
CHINA BEIBU GULF Location: Offshore Beibu Gulf, China Working interest: 19.6% Operator: CNOOC JV partners: CNOOC, Horizon, Majuko 10 development wells from WZ 6-12 platform Development: 5 development wells from WZ 12-8 platform…
MALAYSIA D35, D21, J4 Three producing fields D35, D21 & J4; current 50% participating interest. Letter of The farm-in is an excellent fit Fields intent to farm out 20% participating interest in the project to Dialog Resources Sdn for…
AUSTRALIA CLIFF HEAD Cliff Head Oil field Location: Offshore Perth Basin, Western Australia Working Interest: 42.5% Operator: ROC JV partner: AWE Limited Unmanned platform Development: Pipeline to onshore stabilisation plant…
UK NORTH SEA OIL FIELDS Blane Enoch Working Interest: 12.5% Unitised 12% Unitised Operator: Talisman Energy Talisman Energy 1.3 MMBOE net to 0.3 MMBOE net to ROC ROC 2P Reserves: (at 1 Jan 2014 economic interest) Combined…
MANAGEMENT TEAM WITH TRACK RECORD OF DELIVERY Mr Alan Linn Mr Rolf Stork Mr Anthony Mr Ron Morris Dr Pierre Eliet Ms Leanne Nolan Executive Director COO Neilson President GM Exploration, Company Secretary & CEO CEO BCP Malaysia CFO Roc…
BOARD WITH EXCEPTIONAL OIL AND GAS CREDENTIALS Mr Mike Harding Mr Nigel Hartley Mr Christopher Hodge Mr Robert Leon Mr Graham Mulligan Chairman Appointed 1 June 2012; Appointed Appointed 1 June 2012. Appointed 7 September 2010.…
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