Carnarvon Energy Limited · ASX:CVN
Carnarvon Energy — Carnarvon Petroleum — H1 2012 Earnings Presentation
9 slides from Carnarvon Energy's earnings presentation, Feb 28, 2012
Slide 1: Half Year Financial Report Presentation
Half Year Financial Report Presentation 28 February 2012 ASX ANNOUNCEMENT Carnarvon Petroleum Limited (“Carnarvon”) (ASX:CVN) is pleased to provide shareholders with the attached Half Year Financial Report Presentation For this presentation and further information on the Company please visit the CVN
Slide 2: Interim Financial Report 31 December 2011
Interim Financial Report 31 December 2011
Slide 3: Contents
Contents Business overview Corporate overview Income Statement Summary Statement of Cash Flows Summary 2012 Priorities 2
Slide 4: Business overview
Business overview Strategic focus Material equity interests Onshore & shallow offshore S.E Asia & Australia Conventional oil & gas Production, appraisal & exploration Key assets Oil production & exploration in Thailand Gas exploration / appraisal offshore WA 3
Slide 5: Corporate overview
Corporate overview As at 27 February 2012 Shareholder base Shares on issue 693.3 million Foreign institutions Held by directors & staff 69.0 million Domestic 6% institutions Market capitalisation (A$0.16 / share) A$111 million 9% Directors Liquidity (% of stock traded per annum) ~90% & staff
Slide 6: Income Statement Summary
Income Statement Summary Revenue $17.3m Oil sold (net to cvn) 992 bopd Realised price per barrel $96.22 Cost of sales $7.2m Operating costs $4.2m Transport costs $0.4m Royalty costs $0.9m Depreciation $1.7m Corporate and other costs $2.4m Detail outlined in income statement Exploration costs $3.4m R
Slide 7: Tax Expenses
Tax Expenses Income Tax Expense The income tax expense pertains to Thailand taxes and is incurred in relation to profits in the Thailand operations. Expenses incurred in Australia are not deductible for Thailand income tax purposes. However these costs are retained and form tax losses available for
Slide 8: Statement of Cash Flows Summary
Statement of Cash Flows Summary Cash flows from operating $9.1m activities Receipts $18.1m Payments to suppliers ($7.7m) Taxes paid ($1.3) Thailand drilling and $10.2m capital costs 17 wells including sidetracks Seismic acquisition costs $3.6m Phoenix - Australia $0.7m Rangkas - Indonesia $0.2m L52/
Slide 9: 2012 priorities
2012 priorities Production – Thailand – base production + options to increase Volcanic reservoir Continue drilling high flow appraisal & development targets Technologies Trial technologies to mitigate water incursion & stabilise flow rates Sandstone reservoir Drilling to develop the WBEXT sand