HY2015 Half-Year Results Presentation BRAD LINGO IAN BUCKNELL MANAGING DIRECTOR CHIEF FINANCIAL OFFICER
Disclaimer and Important Notice Non-IFRS accounting financial information This release refers to Underlying NPAT (underlying net profit after tax), EBITDA (earnings before interest, tax, depreciation and amortisation), EBITDAX (earnings…
HY2015 Key Takeaways Strong operating performance with solid production and exploration success Robust cash position, despite weaker oil price and significantly higher capex in HY2015 Reprioritisation of activity for remainder of…
Strong Business Performance V Commodity Price Weakness Oil price falls to six-year low External Strong operating performance Internal Robust financial position Ongoing drilling success Improved safety performance…
HY2015 Business Highlights Health Safety & Improved safety performance - TRIFR* down 6% Environment Cooper Medivac-24 helicopter service launched Net Production 1.54 mmboe of production Successful Bauer development campaign…
HY2015 Successful Bauer Development Campaign Cost effective program to underpin future production 7 DRILLSEARCH HY2015 HALF-YEAR RESULTS PRESENTATION
HY2015 Financial Highlights The company remains profitable strong operating cash flows Hedging placed to provide some pricing and revenue protection Non-cash Impairment of 62 million Reduced Effective Tax rate of 24% Balance…
HY2015 Financial and Operating Headlines Unit HY2015 HY2014 % Change Production mmboe 1.5 1.8 (13%) Revenue m 146.7 200.3 (27%) Impairments & Write-Offs m 61.8 0.4 n/m NPAT - Reported m 14.3 35.5 (60%) - Underlying* m 32.4…
HY2015 Production HY Actual and FY Guidance HY2015 Actual Production 1.5 mmboe In line with plan Additional wells connected on the Western Flank late in the half Flax restarted in December 2014 FY 2015 Forecast Production…
HY2015 Adjusted Revenue HY2015 Adjusted Revenue* - 150.2m Impacted by lower production and steep decline in crude oil prices, offset by hedging and weaker AUD:USD exchange rate USD Brent hedging provided a gross benefit of…
HY2015 Net Profit After Tax Underlying NPAT* of 32 million - decrease of 42% versus HY2014 13 * Refer to slide 3 regarding Non-IFRS financial information DRILLSEARCH HY2015 HALF-YEAR RESULTS PRESENTATION
HY2015 Cash Flow, Cash Balance and Liquidity Facilities commence amortisation H2 FY2015 Strong liquidity remains after heavy investment in HY2015 14 DRILLSEARCH HY2015 HALF-YEAR RESULTS PRESENTATION
HY2015 Impairments and E&E Write-offs Total impairments and write-offs of 61.8m (pre-tax) (17) Oil & Gas Assets impaired by 44m Exploration write Offs of 17m Oil & Gas Impairments relate to Tintaburra asset result of downward…
HY2015 Tax 30 25 1.3 20 12.0 11.8 5.7 15 10 18.9 14.3 5 - Profit Before Tax Income Tax Mark-to-market fair Tax consolidation of De-recognition of Profit After Tax valuation Ambassador carried forward loss Tax…
HY2015 Hedge Position FY2015 Hedge Position Gross hedge benefit of 3.5m realised in HY2015 USD70/bbl and USD90/bbl Put protection for remainder FY2015 Hedge protection extends into FY2016 USD60/bbl Put options paired with…
HY2015 Oil Operating Margins Oil Margins (A/bbls) Average realised Oil Margin oil price: 126 Average realised oil price down 17% USD Brent hedges implemented in response to market conditions Oil cash margin of 77/bbl fallen 15%…
HY2015 Gas Operating Margins Gas Margins (A/boe) Average realised gas basket price: 46 Gas Margin Average realised Gas basket price down 17% to 38.3/boe from 46.1/boe in the comparable period; Decrease in realised liquids…
Operational Review Unconventional Longer-dated value opportunities Drilling Activity Oil Wet Gas Pathway to growth Coolawang-1 Flare Wet Gas Oil Short-to-medium term cash generator Charal-1 Flare…
Operational Review Maintaining a Robust Core Deliberate approach to review measure twice, cut once Consistent strategy High Continued quality operating portfolio success Strong Solid margins liquidity and position…
Operational Review Outcomes Goal Maintain Financial & Operational Strength Shape business plan for FY2016 and beyond Reduce focus Focus on Portfolio on long-dated rationalization opportunities conventional assets…
Operational Review Capex Guidance HY2015 Capital Expenditure FY2015 work program weighted to first half; Considerable ROI 67% success rate1 Development to support future production Impact on 2H FY2015 Remaining capex focused on…
Operational Review Outlook Strategy confirmed Oil Business remains cash flow generator, while Wet Gas remains pathway to growth Prioritisation of capital and activity Conventional over Unconventional; target near-term production,…
H2 FY2015 Activity Oil Business: Wet Gas Business: Unconventional Business: Connection of additional Two new Wet Gas Current drilling program Western Flank wells discoveries announced complete Bauer wells 16-19 Ralgnal-1 and…
FY2015 Activity FY2015 Permit Operator Total Sept Dec Mar Jun Q Q Q Q OIL Western Flank - PELs 91 & 182 BPT/SXY 19 300km2 Jasmine 3D acquisition Seismic acquisition and processing 500km2 Solidus 3D acquisition 800km2…
Key Takeaways Strong operating performance with solid production and exploration success Robust cash position, despite weaker oil price and significantly higher capex in HY2015 Reprioritisation of activity for remainder of FY2015,…
Corporate Information Financial Drillsearch Shareholder Type ASX Ticker DLS S&P/ASX Index ASX 200 Market Cap (Am) 475 Shares on Issue (m) 461 Share Price (18 Feb 2015) (A/sh) 1.03 Cash (31 Dec 2014) (Am) 146.5 Australian Onshore…
Drillsearch Register as at 30 January 2015 30 January 2015 Top 20 DLS Shareholders of shares % HSBC Custody Nominees (Australia) Limited 79,683,544 17.3 JP Morgan Nominees Australia Limited 49,516,007 10.7 Citicorp Nominees Pty…
HY2015 Balance Sheet HY2015 FY2014 Mov't HY2015 Balance Sheet m m % Cash & Trade Debtors 204.4 237.6 (14%) Drillsearch remains highly liquid with E&E Assets & O&G Assets 463.9 413.1 12% significant net current assets Derivatives…
HEAD OFFICE LEVEL 18 321 KENT STREET SYDNEY NSW 2000 PH: +61 2 9249 9600 FX: + 61 2 9249 9630 E: ADMINDRILLSEARCH.COM.AU W: WWW.DRILLSEARCH.COM.AU Please contact for further information DUDLEY WHITE GM CORPORATE COMMUNICATIONS
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