2012 Full Year Results Presentation 28 March 2013 1
2012 key events 2
2012 in line with the Group strategy Production increase Strong cash flow generation, expected positive Free cash flow Debt restructuring Promising exploration prospects to be drilled in 2013-2014 SHORT TERM MID TERM LONGER…
Group certified reserves and resources Oil reserves (M&P share net of royalties) unit P1 P2 P1+P2 P3 OMOUEYI 85% Mboe 53.8 140.5 194.4 94.5 BANIO 100 0.3 0.1 0.4 0.2 Mboe % GABON Mboe 54.2 140.6 194.8 94.7 SABANERO 50% Mboe 2.1…
2012 results summary 5
2012 FY results summary in m 31/12/2012 31/12/2011 Sales 472 374 +26% Gross margin 382 311 Gross operating surplus 339 273 +24% in % of sales 72% 73% Income from production activity 255 207 +25% in % of sales 54% 55% Income…
Sources and uses of funds Colombia, carried by PRE 47 159 248 22 67 15 46 45 61 67 Opening cash Cash flow Development Exploration Dividends Loan increase Others Closing cash capex expenses GABON CONGO…
2012 balance sheet 1,643 1,643 770 Nonnon current assets Net debt Actif courant OtherActif Autre current assets courant Cash Trsorerie In m 31/12/2012 28/02/2013 1,392 Convertible bonds -368 -368 Capitaux Equity…
2013 guidance 9
2013: Gabon production profile Gabon gross production for 2013 30 000 In bopd 27 500 24 459 25 000 +38% 20 000 17 693 15 000 10 000 5 000 0 2012 janv.-13 fvr.-13 mars-13 avr.-13 mai-13 juin-13 juil.-13 aot-13…
2013 Drilling schedule and seismic campaign WI Q1 Q2 Q3 Q4 CONGO La Noumbi 49% GABON Omoueyi 100% Kari 100% Nyanga Mayombe 100% NAMIBIA 0044 37% WELLS 0045 37% 2D SEISMIC 3D SEISMIC COLOMBIA Sabanero 50% Muisca 50% COR15…
2013 capex program In m Budget M&P working interest Budget financed by M&P Exploration 120 86 Gabon 19 19 Congo 11 11 Namibia 0 0 Colombia 25 - Peru 18 - Mozambique 24 24 Tanzania 24 32 Appraisal 18 13 Colombia 9…
E&P portfolio Production & Development 13
Gabon: Gross production (100%) Daily production (bopd) 35 000 30 000 Omoc-Nord 100 platform incident 25 000 2012 Omoueyi production Gross production Average : 17,693 bopd 20 000 Production sold (M&P share): 15,541 bopd Sale…
Future development opportunities Future development opportunities Omoueyi: improvement of water injection COR 15: 1 appraisal well CPO17: new technics to produce 8API oil and Godric testing Tanzania: sale contract to be…
E&P portfolio Appraisal & Exploration 16
South America : Colombia CPO17: Steam test in Merlin COR15: 3D Processing, Interpretation & Prospect definition Steam test in Dorcas 1 stratigraphic well in July 1 well (Godric) in April Sabanero: development plan Muisca: 1 well…
South America : Peru Lote116: 1 well in Q4 28 March 2013 18
West Africa Gabon: Namibia: 2D seismic acquisiton 2D seismic processing 2 wells at least in Omoueyi and interpretation 3D seismic acquisition TBD Congo: 2 wells being drilled Small propspects 28 March 2013 19
East Africa Mnazi Bay: 2D and 3D seismic BRM: 3D seimic in Mafia zone MKuranga and Mafia wells study .. . . Production wells 250 km 3D seismic recorded Mozambique: 2D seismic acquisition 1 well in 2013 28 March 2013…
Appendices 21
Global overview Gabon Colombia Tanzania Mozambique Peru Namibia Others Type of hydrocarbons Oi l Oi l & Ga s Ga s Oi l & Ga s Oi l Oi l & Ga s Oi l & Ga s Reserves (2P net of royalties) 195 mmbo (1/1/2013) 3 mmbo 294 bcf Entitled…
Maurel & Prom worldwide 100% Employees: 238 worlwide 27,7% 38 Eur ope 4 18 Asia 178 Latin America Africa 28 March 2013 23
Shareholding structure Individuals 28% Employees 1% Institutionals Treasury 36% shares 5% Macif 7% Switzerland Strategic 8% United States Luxembourg shareholders 7% 36% Pacifico 28% 24% Norway 6% United Kingdom…
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