Tullow Oil Plc · LSE:TLW
Tullow Oil — FY2007 Earnings Presentation
11 slides from Tullow Oil's earnings presentation, March 2008
Slide 1: Tullow Oil plc March 2008
Tullow Oil ple March 2008
Slide 2: Asset Overview
Asset Overview FACT BOOK Africa Europe 01 Angola 01 Netherlands 02 Congo (Brazzaville) 09 02 Portugal 03 Congo (DRC) 03 United Kingdom 11 04 Côte d'Ivoire 04 03 01 05 Equatorial Guinea 07 06 Gabon 05 06 02 13 03 07 Ghana 08 Madagascar 12 09 Mauritania 01 10 Namibia 08 11 Senegal 10 12 Tanzania 02 13
Slide 3: Summary of 2007 Results
Summary of 2007 Results FACT BOOK 2007 Results 2007 2006 Variance Sales Revenue 639.2 578.8 +10% Operating profit before exploration activities 253.3 295.1 -14% Net profit 52.6 157.4 -67% Basic earnings per share 7.10 24.23 -71% Dividend per share 6.00 5.50 +9% Cash generated from operations1 473.8
Slide 4: 2007/2008 Capex Programmes
2007/2008 Capex Programmes FACT BOOK Capital Expenditure Strategy Tullow’s general strategy is to balance overall investment, based on rigorous and regular exploration and production portfolio analysis. We aim to concentrate investment in those assets with the greatest long-term value potential and
Slide 5: 2007/2008 Costs and Depreciation
2007/2008 Costs and Depreciation FACT BOOK 2007 2008 Operating Data * £/boe £/boe Operating Costs UK SNS 6.30 6.40 Gabon ** 6.40 7.40 Equatorial Guinea, Congo+ (Brazzaville), Côte d’lvoire 3.20 3.40 Mauritania - Chinguetti 9.80 11.40 South Asia 1.50 1.30 Depreciation UK SNS 9.70 9.00 Gabon 4.30 4.30
Slide 6: 2008 Development Opportunities
2008 Development Opportunities FACT BOOK Sanction First No. of Country Developments Status Decision Production Wells EUROPE Wissey Q3 08 1 Development underway UK Hewett infill Q4 08 1 Development underway TH Area Bure N Q4 09 1 Development planning Boulton infill Q4 08 1 Development planning Murdoc
Slide 7: 2008 Development Opportunities
2008 Development Opportunities FACT BOOK Sanction First No. of Country Developments Status Decision Production Wells AFRICA Limande Q3 08 2009 2 Infill development drilling and pressure support Ebouri Q4 2008 1 Platform under construction Modelling of optimum injector/producer configurations is in N
Slide 8: 12 Month Exploration Programme
12 Month Exploration Programme FACT BOOK Licence/ Prospect/ Gross Country Interest Date/Status Block Campaign Upside EUROPE Netherlands SNS 2 Prospects 30-60% 50 mmboe 2009 AFRICA 4-well+ Jubilee Ghana Jubilee Field 22.9-49.95% 1,000 mmbo 2008 Exploratory Appraisal Ghana Deepwater Tano Tweneboa Pros
Slide 9: 2007 Reserves and Resources summary
2007 Reserves and Resources summary FACT BOOK EUROPE AFRICA SOUTH ASIA TOTAL Oil Gas Oil Gas Oil Gas Oil Gas Petro. mmbbl bcf mmbbl bcf mmbbl bcf mmbbl bcf mmboe COMMERCIAL RESERVES 1 January 2007 - 302.4 147.8 21.2 - 103.7 147.8 427.3 219.1 Revisions 2.0 16.4 (2.2) - - 11.5 (0.2) 27.9 4.4 Productio
Slide 10: Production Summary – Key Producing Assets
Production Summary – Key Producing Assets FACT BOOK Working interest production boepd 2007 2008 Fiscal Discount to Core Area Country Asset Interest Actual Forecast Regime Brent $ AFRICA Gabon Tchatamba 25% 5,250 4,500 PSC $1.00 Niungo 40% 5,380 4,500 Tax $3.30 Etame/Avouma 7.5% 1,530 1,500 PSC $1.50
Slide 11: Net Daily Entitlement as % Production
Net Daily Entitlement as % Production FACT BOOK Contract Type 2007 2008 2009 Gabon Echira Corp Tax 100 100 100 Turnix Corp Tax 100 100 100 Niungo Corp Tax 100 100 100 Tchatamba PSC 75 61 62 Limande Corp Tax 100 100 100 Etame PSC 81 69 60 Obangue PSC 90 90 84 Tsiengui PSC 79 56 55 Congo M’Boundi* PSC