Horizon Oil Limited · ASX:HZN
Horizon Oil — H1 2013 Earnings Presentation
12 slides from Horizon Oil's earnings presentation, Feb 25, 2013
Slide 1: Half Year 2013 Financial Results
HORIZON OIL LIMITED ABN 51 009 799 455 Half Year 2013 For personal use only Financial Results 25 February F b 2013
Slide 2: Half Year Highlights
Half Year Highlights For personal use only Share Price 51% increase in Company's share price to A$0.43 during the half year Reserves 53% increase in Company’s reserves and resources from 90 mmboe to 138 mmboe 163,413 barrels of oil from Maari field Production Cumulative gross oil production from Maa
Slide 3: Operational Results
Operational Results For personal use only No LTIs during the period HSE No significant loss of containment incidents (>1 BOE) Remaining reserves at Maari / Manaia fields, offshore New Zealand, significantly upgraded to 8.8 mmbo from 5.2 mmbo. Maari growth projects program designed to bring these add
Slide 4: Reserves and Resources – 53% increase from prior year
Reserves and Resources – 53% increase from prior year For personal use only Reserves Contingent Resources Proven and Probable Proven and Probable Blockk 22/12 WZ 12 Bl 8E 3 12‐8E 4.8 mmbo PRL 4 (Stanley liquids) 4 PRL 4 0.7 mmbo (Stanley liquids) 4 PRL 21 (Elevala liquids) 4 5.7 mmbo PMP 38160 PRL 4
Slide 5: Forecast Production – material increase
Forecast Production – material increase For personal use only Forecast production - reserves and contingent resources 25,000 20,000 valent per day 15,000 arrels of oil equiv 10,000 Ba 5,000 0 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Maari WZ 6-12 + 12-8W WZ 12-8E Stanley cond
Slide 6: Profit and Loss
Profit and Loss For personal use only 6 Months to 6 Months to Dec 2012 Dec 2011 (US$ million) (US$ million) Sales Revenue 18.3 28.0 • Continued robust gross profit despite Gross Profit on Oil Sales 11.6 18.8 Maari operational Unrealised (loss)/gain on revaluation of issues (4.7) 1.9 conversion optio
Slide 7: Profit and Loss analysis
Profit and Loss analysis For personal use only 20.0 15.0 10.0 18 3 18.3 US$m 5.0 45 4.5 2.2 0.0 (6.8) -5.0 -10.0 Revenue Operating Costs Corporate & Unrealised loss EBITDAX Depreciation, Depreciation EBIT Finance Costs Tax expense Loss af ter Tax Transaction on revaluation of Amortisation Costs conv
Slide 8: Cash Flow
Cash Flow For personal use only 6 Months to 6 Months to Dec 2012 Dec 2011 • 28% increase in (US$ million) (US$ million) cashh ffrom operating activities Opening Cash 19.3 64.6 (excl G&A) N t Cash Net C h ffrom O Operating ti Activities A ti iti (excl ( l G&A) 97 9.7 76 7.6 • Healthy cash & General &
Slide 9: Cash Flow Analysis
Cash Flow Analysis For personal use only 120.0 100.0 80.0 S$m 60 0 60.0 US 40.0 48.4 20.0 18.3 0.0 Opening cash at 30 Net Cash f rom General & Net Proceeds f rom Repayment of Development Exploration Cash at 31 Dec 2013 June 2012 Operating Activities Administrative Reserves Based Finance Lease on Exp
Slide 10: Outlook for 2013
Outlook for 2013 Corporate For personal use only Finalisation of sale process of partial interest in Horizon Oil’s PNG assets, subject to arrangements reflecting the board’s firm view of the material value of the PNG interests. Maari/Manaia and PEP 51313, offshore New Zealand Pro-active well wor
Slide 11: 2013 Calendar Year Activity
2013 Calendar Year Activity For personal use only 2013 Q1 Q2 Q3 Q4 NEW ZEALAND MAARI PRODUCTION PEP 51313 3D SEISMIC MAARI EXPLORATION & APPRAISAL PEP 51313 EXPLORATION DRILLING MAARI GROWTH PROJECT CHINA BLOCK 22/12 DEVELOPMENT DRILLING WZ 12-8E FEASIBILITY STUDY BLOCK 22/12 PRODUCTION PAPUA NEW GU
Slide 12: Half Year Results Presentation Information
Half Year Results Presentation Information For personal use only For further information: Michael Sheridan Chief Financial Officer/Company Secretary +61 2 9332 5000 exploration@horizonoil.com.au www.horizonoil.com.au The information in this presentation is an overview and does not contain all inform