Horizon Oil Limited · ASX:HZN
Horizon Oil — H1 FY2011 Earnings Presentation
5 slides from Horizon Oil's earnings presentation, Feb 24, 2011
Slide 1: HY 2011 Financial Results
HORIZON OIL LIMITED ABN 51 009 799 455 For personal use only HY 2011 Financial Results 24 February 2011 This presentation contains some references to forward looking assumptions, representations, estimates and outcomes. These are uncertain by the nature of the business and no assurance can be given
Slide 2: Key Results
Key Results For personal use only Operational § Stanley-2 appraisal well in PRL 4, Papua New Guinea drilled with favourable preliminary results. Multi-well drilling program planned to continue throughout the remainder of the year. § Overall Development Plan for WZ6-12 and WZ12-8W fields, Beibu Gulf
Slide 3: Profit and Loss
Profit and Loss For personal use only 6 Months to 6 Months to Dec 2010 Dec 2009 (US$million) (US$million) Sales Revenue 24.8 24.4 Gross Profit on Oil Sales 15.5 17.1 Impairment of exploration phase expenditure (PRL 5) (7.3) - Profit from Sale of Assets - 54.1 EBITDAX 18.0 22.0 EBIT 5.3 68.9 Profit b
Slide 4: Cash Flow
Cash Flow For personal use only 6 Months to 6 Months to Dec 2010 Dec 2009 (US$million) (US$million) Opening Cash 26.5 10.0 Net Cash from Operating Activities (excl G&A) 19.4 20.0 General & Administrative Expenditure (3.5) (2.5) Repayment of Bank Loans (7.3) (14.6) Repayment of Finance Lease on FPSO
Slide 5: Outlook for remainder of 2011
Outlook for remainder of 2011 For personal use only § Optimisation of water injection and oil production at Maari field; design of development program to produce Greater Maari Area accumulations. § Processing of new seismic data over PEP 51313, offshore New Zealand and integration with existing cove