Dana Gas PJSC · ADX:DANA

Dana Gas PJSC — Q2 2018 Earnings Presentation

18 slides from Dana Gas PJSC's earnings presentation, Aug 14, 2018

  1. Slide 1: Q2 2018 Financial Results

    Clean Energy for the Future Q2 2018 –Financial Results 14 August 2018

  2. Slide 2: Disclaimer

    Disclaimer This presentation contains forward-looking statements which may be identified by their use of words like “plans,” “expects,” “will,” “anticipates,” “believes,” “intends,” “projects,” “estimates” or other words of similar meaning. All statements that address expectations or projections abo

  3. Slide 3: Contents

    Contents 1 Headlines 2 Financial Update 3 Country Performance 4 Summary

  4. Slide 4: 1. Headlines

    1. Headlines

  5. Slide 5: Highlights

    Highlights Financials Operations  $50m in H1 net profit – up 117%; excluding Sukuk  Group production averaged 63,600 boepd – down 6% restructuring costs  Decrease primarily result of natural field declines in Egypt  $24m in H1 net profit – up 4%; result of higher realised  Phase 1: KRI expansio

  6. Slide 6: 2. Financial Update

    2. Financial Update

  7. Slide 7: Financial Highlights

    Financial Highlights Gross Revenue (million USD) EBITDA (million USD) 250 236 222 150 2017 2018 200 122 122 150 100 116 104 100 53 51 50 50 0 0 H1 2017 2018 Q2 H1 Q2 Gross Profit (million USD) Net Profit (million USD) 82 30 2017 2018 2017 2018 24 80 23 59 60 20 37 12 40 10 10 21 20 0 0 H1 Q2 H1 Q2 7

  8. Slide 8: Production (boepd) & Realized Prices (USD/boe)

    Production (boepd) & Realized Prices ( USD/boe) Average production H1 2018 vs H1 2017 Average production Q2 2018 vs Q2 2017 65,400 62,400 67,550 Q2 2017 63,600 H1 2017 Q2 2018 H1 2018 37,650 34,400 39,300 35,600 25,400 26,000 25,900 26,100 1,650 1,200 700 800 1,700* 1,300 650 600 Group Egypt KRI UAE

  9. Slide 9: CAPEX & OPEX

    CAPEX & OPEX G&A / OPEX (million USD) CAPEX (million USD) G&A OPEX 56 52 52 122 80 27 25 25 23 47 13 38 13 15 7 7 8 2015 2016 2017 H1 2016 H1 2017 H1 2018 2016 2017 H1 2016 H1 2017 H1 2018 G&A / OPEX CAPEX  Company continues to optimise costs  No capital call on Pearl Petroleum in KRI in 2018  OP

  10. Slide 10: Cash Flow, Liquidity & Receivables

    Cash Flow, Liquidity & Receivables  $613m cash (inc. $95m dividend payment) Free Cash Flow (million USD)  Positive FCF - $96 million 465 450 413  Sukuk refinancing concluded • New profit payment of 4% p.a.; 3-yrs 203 181 200 • Save $35m+ in financing costs p.a. 112 123 96 82 52  H1 2018 total pa

  11. Slide 11: 3. Country Performance

    3. Country Performance

  12. Slide 12: Egypt: Programme Overview

    Egypt: Programme Overview  4 well drilling and work-over programme El Wastani completed, 14 MMscf/d production capacity added South Abu El Naga  Balsam-8 well spudded 11 August  Additional output from drilling programme expected to come onstream incrementally in H2 2018; bring plant back to opera

  13. Slide 13: KRI: Expansion plans underway

    KRI: Expansion plans underway Ambitious programme to increase production by 170% to 900 MMscf/d by 2021 Phase 1 – 25% production increase expected to add $50m per annum to bottom line 2018 Field Development Plans Settlement – in numbers Submitted a detailed Field Development Plan (FDP) for Khor Mor

  14. Slide 14: UAE

    UAE  Producing gas since February 2016  H2 2018 production average 1,300 boepd  Any final decision on future expenditure to assess the economic viability of the project will be subject to the outcome of negotiations on sales gas price, which are currently ongoing.  2P reserves at 24 mmboe 14

  15. Slide 15: Arbitration & Sukuk Update

    Arbitration & Sukuk Update MOL [Kurdistan Region of Iraq]  MOL arbitration remains scheduled for Nov 2018 UAE Gas Project  Judgement expected to be delivered by end of October 2018 15

  16. Slide 16: 4. Summary

    4. Summary

  17. Slide 17: Summary

    Summary Strong financial results - $50m in net profit (exc. Sukuk 1 charges) in H1 2018; up 117% year-on-year Sukuk restructuring done – new instrument issued; 4% 2 coupon and savings of $35m p.a. on Sukuk financing Potential for exciting medium-term opportunities in Egypt 3 and development of world

  18. Slide 18: Reach Us: Dana Gas PJSC

    Reach Us: Dana Gas PJSC P. O. Box 2011, Sharjah, UAE www.danagas.com E-mail : mohammed.mubaideen@danagas.com Direct : +971 6 519 4401

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