Carnarvon Energy Limited · ASX:CVN
Carnarvon Energy — Carnarvon Petroleum — FY2013 Earnings Presentation
14 slides from Carnarvon Energy's earnings presentation, Aug 30, 2013
Slide 1: 2013 Financial Results Presentation
2013 Financial Results Presentation 30 August 2013 For personal use only ASX ANNOUNCEMENT Carnarvon Petroleum Limited (“Carnarvon”) (ASX:CVN) is pleased to provide shareholders with the attached 2013 Financial Results Presentation. For this presentation and further information on the Company please
Slide 2: 2013 Year End Results Presentation
For personal use only 2013 Year End Results Presentation 30 August 2013
Slide 3: Disclaimer
For personal use only Disclaimer The information in this document, that relates to oil exploration results and reserves, is based on information compiled by the Company’s Chief Operating Officer, Mr Philip Huizenga, who is a full-time employee of the Company. Mr Huizenga consents to the inclusion of
Slide 4: Key Highlights
Key Highlights For personal use only Production in Thailand averaged 1,370 bopd gross (550 bopd net to Carnarvon) Production Generating $18 million in cash receipts for Carnarvon First WBEXT sandstone development commenced during the financial year Development Water injection preparations, key for t
Slide 5: Portfolio Snapshot
Portfolio Snapshot For personal use only 40% interest L44/43 & L33/43 (Thailand) Oil produced from sandstone and igneous reservoirs L44/43, L33/43 L20/50 L52/50 and L53/50 L52/50 & L53/50 100% interest (Thailand) Oil exploration permits, available for farmin L20/50 0% interest (commercial entitlemen
Slide 6: 2013 Year End Financial Results in Review
For personal use only 2013 Year End Financial Results in Review 5
Slide 7: Income Statement
Income Statement For personal use only Operating analysis A$’m Comments Produced 200,147 bbls at average realised oil price of $91.50 Sales Revenue $18.3m Average gross production of 1,370 bopd Production expenses of $4.4 million ($22.0/bbl) Depreciation of $5.1 million ($25.5/bbl) Cost of sales ($1
Slide 8: Income Statement - Tax analysis
Income Statement For personal use only Tax analysis A$’m Comments Prima facie tax on pre tax profit $0.5m Pre-tax profit of $1.5m x 30% tax rate Effect of higher overseas tax rates $1.0m Thailand has higher tax rates compared to Australia Tax effect of changes in exchange rates on the translation of
Slide 9: Balance Sheet
Balance Sheet For personal use only Extract of key items A$’m Comments Cash $19.5m Excludes restricted cash of $1.4m included in receivables Receivables $5.1m Includes oil sales owing of $2.8m and restricted cash of $1.4m Inventories $7.0m Thailand field inventories including those for future drilli
Slide 10: Cash Flow
Cash Flow For personal use only Extract of key items A$’m Comments Receipts $18.4m Receipts from Thailand oil sales Payments ($15.8m) Predominantly Thailand operations and Perth office Taxes ($1.5m) Thailand income tax paid Thailand development costs and exploration activities in L52/50 Exploration
Slide 11: Key Asset Highlights
For personal use only Key Asset Highlights 10
Slide 12: Phoenix
Phoenix Phoenix 3D seismic interpretation near top gas depth surface For personal use only Phoenix-1 discovery Phoenix-1 discovered gas in 1980 when gas prices meant the discovery was not economic Phoenix 3D seismic This was the first 3D seismic ever acquired over these permits and facilitated the 2
Slide 13: Thailand Production
Thailand Production For personal use only Producing oil fields with unhedged exposure to 200,000 bbl (net) produced in 2013 FY strong oil price Production set to increase late 2013 and into 2014 Undeveloped reserves can be brought on-stream in a 2.4 MMbbl (net) in proved undeveloped reserves cost ef
Slide 14: For personal use only
For personal use only Ground Floor 1322 Hay Street West Perth WA 6005 Telephone: +61 (8) 9321 2665 Fax: +61 (8) 9321 8867 www.carnarvon.com.au