Etablissements Maurel & Prom Sa · EURONEXT:MAU
Etablissements Maurel & Prom Sa — Maurel & Prom — Investor Presentation (October 2014)
26 slides from Etablissements Maurel & Prom Sa's investor presentation, October 2014
Slide 1: Management presentation
Management presentation October 2014
Slide 2: Group overview
MAURELY>PROM Group overview
Slide 3: History of Maurel & Prom
History of Maurel & Prom Sale of HOCOL GROUP to ECOPETROL Purchase of exploration agreements in Gabon Production start-up at ONAL and OMKO in Gabon Acquisition of the HOCOL GROUP in Colombia and Discovery of a new reservoir South-East of ONAL in Gabon Venezuela Investment in the assets of ARTUMAS in
Slide 4: Geographical footprint
Geographical footprint exploration production CANADA(23) FRANCE(1) SICILY MYANMAR(2) COLOMBIA PERU GABON TANZANIA CONGO MOZAMBIQUE NAMIBIA Oil Gas (1): headquarters (2): via Saint-Aubin Energie (Maurel & Prom 1/3) 4 Management presentation
Slide 5: Licenses
Licenses GABON TANZANIA NAMIBIA MOZAMBIQUE COLOMBIA PERU SICILY OTHERS M&P, Saint-Aubin Group entity M&P M&P M&P M&P M&P M&P M&P Energie (M&P 1/3) Type of hydrocarbons Oil Gas Oil & Gas Oil & Gas Oil Oil Gas Oil & Gas Reserves (2P) 184mmbo(1) 294bscf n.a. n.a. n.a. n.a. n.a. n.a. Entitled production
Slide 6: Track record
Track record DAILY PRODUCTION (in bopd) RESERVES & RESOURCES 35 000 ENTITLEMENT WI P1 P2 P3 3P = 30 000 AEE 2P = P1+P2 1/1/2014 In mmbo In mmbo In mmbo P1+P2+P3 Onal 80% 80,6 20,7 101,3 23,9 125,2 25 000 Omko 80% 3,4 4,5 8,0 4,4 12,4 Ombg 80% 1,3 0,3 1,6 0,6 2,2 Omgw 80% 11,3 2,9 14,3 5,5 19,8 Omoc-
Slide 7: Shareholders
Shareholders SHAREHOLDER COMPOSITION INSTITUTIONAL SHAREHOLDING 4,8% 1,1% Unidentified 24,5% France Institutional investors 10% 11% 33,5% North America Company related (Pacifico, Macif, treasury UK & Ireland shares) Retail , employees) Rest of the World 1% 1% Miscellaneous 36,1% Continental Europe 1
Slide 8: Strategy
MAURELY>PROM Strategy
Slide 9: To build a leading European E&P company
To build a leading european E&P company Increase production Find new reserves Add cash flow sources Strategic positioning in East Africa A clear strategy to grow A strong track record Very experienced management teams Upsides from existing exploration acreage Free cash flow from 2015 Upsides from ex
Slide 10: Producing assets
MAURELY>PROM Producting assets
Slide 11: New production sharing contract in Gabon
New production sharing contract in Gabon New Ezanga PSA Previous PSA New PSA Omoueyi Ezanga Exploration phase Sept 14 Dec 2019 Onal : 3+5+5 Omko : 6+5+5 Remaining duration (10+5+5)x2* Ombg and Omgw : 7+5+5 Omoc-N : 9+5+5 Ezanga Partner working interest State: 15% State: 20% Omoueyi/Ezanga 7% for 5 y
Slide 12: Onal environment
Onal environment 97 producing wells 260 bopd in average 27 water injection wells 6 water producing wells 12 Management presentation
Slide 13: Gabon: producing field development plan
Gabon: producing field development plan Gross production (100%, in bopd) 30 000 New wells bopd in production Treatment facilities: 25 000 Oil: up to 30,000 bopd to be 35,000 bopd mid 2015 Produced water : 19,000 bwpd Start of the 20 000 water injection to be 69,000 bwpd mid 2015 Water injection opti
Slide 14: GSA signed in Tanzania
GSA signed in Tanzania 4 existing wells expected to produce combined 80 mmcfpd Pipeline nearing completion providing access to market Government-owned 36’’ pipeline from Mnazi Bay to Dar Es Salam Pipeline capacty: 750 mmcfpd Completion and commissioning in Q1 2015 Gas Sale Agreement now in place Ini
Slide 15: Mnazi Bay Gas Utilization
Mnazi Bay Gas Utilization 15 Management presentation
Slide 16: Exploration assets
Exploration assets Maurel & Prom
Slide 17: Latin America
Latin America COLOMBIA PERU COR 15 CPO 17 Muisca • One appraisal well on Dorcas (M&P 25%) • M&P 50% • Three stratigraphic wells on Godric (M&P 25%) • Pacific Rubiales Energy, operator, 50% • One stratigraphic well on COR 15 (M&P 50%) 17 Management presentation
Slide 18: West Africa
West Africa GABON NAMIBIA Gaz Oil CPO 17 Ezanga Omoueyi/Ezanga Kari Kari Nyanga Nyanga Mayombe Mayombe • M&P, operator, 100% • 2D seismic finalization • New Ezanga PSA: new exploration phase of five years • Seismic 3D acquisition (2015) • Launch drilling programm on Omoueyi and Kari (November • M&P,
Slide 19: East Africa
East Africa TANZANIA MOZAMBIQUE CPO 17 Rovuma offshore Anadarko/Cove • Two exploration wells on Rovuma permit onshore • Mnazi Bay : 2D seismic acquisition (M&P, operator, 48%) (first one in progress) • Gas sale agreement signed • M&P, 28% • BRM : seismic processing (M&P, operator, 60%) • Anadarko op
Slide 20: Exploration asset: Saint-Aubin Energie
Exploration asset Saint-Aubin Energie
Slide 21: Saint-Aubin Energie
Saint-Aubin Energie WHY? ORAGANIZATION • To allow MPI and Maurel & Prom to have access to new opportunities Maurel & Prom MPI 1/3 2/3 • For MPI, to have access to • Maurel & Prom track record Saint-Aubin • Maurel & Prom technical teams Energie • For Maurel & Prom, to have access to • MPI cash strong
Slide 22: Canada - Québec
Canada - Québec GASPESIE ANTICOSTI CPO 17 • Saint-Aubin Energie, 50% • 15 to 18 stratigraphic wells • Petrolia, operator • 3 exploration wells with completion (Summer 2015) • Recognition of different reservoirs • Ressources Québec, operator, 35% • Stratigraphic wells • Saint-Aubin Energie, 21.7% • P
Slide 23: Canada and Myanmar
Canada and Myanmar ALBERTA MYANMAR Bloc M2 3 2 • Exploration well in H1 2015, operator Petrovietnam • SAGD pilot project, steam operations • Saint-Aubin Energie 40% • Long term production underway • Petrovietnam, operator • Saint-Aubin Energie, 25% • Deep Well 25% (Saint-Aubin Energie owns 20% of De
Slide 24: Indebtness and Dilution
MAURELY>PROM Indebtness and Dilution
Slide 25: Indebtness and dilution
Indebtness and dilution Indebtness as of 30 June 2014 Dilution OCEANE 2015: 31 July 2015, €70m Number of outstanding shares: 121,560,653 ORNANE 2019: 1st July 2019, €253m • Treasury shares: 5,616,919 RCF M&P Gabon: 31 December 2017, $310m • Potential dilution before ORNANE 2019 Crédit Suisse CAROIL:
Slide 26: www.maureletprom.fr
www.maureletprom.fr Management presentation