Hindustan Oil Exploration Co., Ltd. · NSE:HINDOILEXP
Hindustan Oil Exploration — Q4 FY2023 Earnings Presentation
25 slides from Hindustan Oil Exploration's earnings presentation, May 30, 2023
Slide 1: Cover letter to stock exchanges
Hindustan Oil Exploration Company Limited ‘Lakshmi Chambers’, 192, St. Mary’s Road, Alwarpet, Chennai - 600 018. INDIA. : 91 (044) 66229000 ● Fax: 91 (044) 66229011 / 66229012 E-mail: contact@hoec.com ● Website: www.hoec.com CIN: L11100GJ1996PLC029880 May 30, 2023 By Online The Listing Department Th
Slide 2: Investor Presentation Q4-FY23/FY23
Hindustan Oil Exploration Company Limited INVESTOR PRESENTATION | Q4-FY23/FY23 MAY 2023
Slide 3: Proven Track Record
Proven Track Record Gross Production (boepd) 10,545 10,101 9,583 8,622 7,243 7,895 FY 20 FY 21 FY 22 Q3 FY23 Q4 FY23 FY 23 > 100% 27 Months 4.5 Years 5 yr Gross Production CAGR Dirok (Assam) – FDP to First Gas Timeline B-80 (Western Offshore) – FDP to First Gas Timeline 2
Slide 4: Board of Directors
Board of Directors Vivek Rae - Non-Executive Independent Director/ Chairman Mr Rae, a former secretary, Ministry of Petroleum & Natural Gas, Government of India, served in the Indian Administrative Services for 38 years. Subsequent to his retirement, Mr. Rae served as a whole-time member of the 7th
Slide 5: Tailored Asset Portfolio with Broad Geographical Presence
Tailored Asset Portfolio with Broad Geographical Presence Onshore Offshore Onshore Offshore Onshore Oil Well Oil Well Gas Gas Exploration • India Focused Asset Portfolio tailored to deliver our strategy of rapid development of discovered resources • Strong offshore presence with anchor assets on bot
Slide 6: Focused Strategy for Value Generation
Focused Strategy for Value Generation Uniquely placed with right organization and right asset portfolio to deliver superior value Focus on Growth strategy Growing responsibly Discovered Resources • Focus on discovered oil and • Build on Offshore Operating • Create long-term stakeholder gas resources
Slide 7: Business Overview
BUSINESS OVERVIEW 6
Slide 8: B-80 Operations Update
B-80 Operations Update • Both oil (D1) and gas (D2) wells are on continuous production. • HP separator repaired , tested and commissioned • Produced oil is being transported and stored at the Floating Storage and Offloading (FSO)- tradable parcel size is now ready for shipment • Fresh Crude Assay is
Slide 9: B-80: Key Milestones
B-80: Key Milestones • FDP Approved Dec 2017 • Drilling & completion – 2 subsea development wells April 2020 KGB- Offshore Installation at B-80 Site • Offshore Installation(OI) for collecting, March 2021 separating and processing well fluids • Hot-Tap of existing ONGC WO-16 April 2021 Pipeline; Subs
Slide 10: Dirok: Production & Phase-II development
Dirok: Production & Phase-II development Field Layout 30 mmscfd 506 bopd > 15% Gas Production Condensate Production Assam Gas (Q4-FY23) (Q4-FY23) Production • Premium Sales during Q4 FY 23 constitute about 25% of the total Dirok sales. • Central PSU Indradhanush Gas Grid Limited (IGGL) is expected t
Slide 11: PY-1: Enhancing Production and Offtake Arrangements
PY-1: Enhancing Production and Offtake Arrangements USD 3.67 55 mmscfd 56 km Realised Price per Processing Sub sea MMBTU Capacity pipeline Cauvery • Production Sharing Contract (PSC) for PY-1 block stands extended to October 5, 2030. • Only offshore platform in Cauvery Basin with 8 slots and four we
Slide 12: Kharsang: Phase I Development Plan
Kharsang: Phase I Development Plan 424 boepd 18 Oil Production 30% Number of Direct + Indirect PI Wells to be drilled in (Q4-FY23) near future Field Overview • HOEC acquired entire share capital of M/s Geopetrol International Inc in 2018 which has 30% stake - Direct and Indirect in Kharsang Oil fiel
Slide 13: Cambay: Developments
Cambay: Developments 73 boepd 0.343 mmscfd Asjol, North Oil Production Total Gas Production Balol and Palej Cambay Cambay (Q4-FY23) (Q4-FY23) Marginal fields at Cambay Approved FDP to be executed over the next two years: Gujarat • Asjol: 2 development wells & hook-up to EPS; public hearing completed
Slide 14: Financial Overview
<~ H==EL FINANCIAL OVERVIEW
Slide 15: Standalone Statement of Profit or Loss
Standalone Statement of Profit or Loss PARTICULARS (INR Cr) Q4-FY23 Q3-FY23 FY23 FY22 INCOME Revenue from operations 141.63 101.34 381.05 130.51 Other income 9.07 5.03 27.91 16.80 Total revenue 150.70 106.37 408.96 147.31 EXPENSES Expenses from producing oil and gas blocks 39.88 60.34 169.52 22.25 R
Slide 16: Standalone Statement of Assets & Liabilities
Standalone Statement of Assets & Liabilities PARTICULARS (INR Cr) FY23 FY22 FY21 PARTICULARS (INR Cr) FY23 FY22 FY21 ASSETS EQUITY AND LIABILITIES Non-Current Asset 960.74 990.03 704.41 Equity 929.66 765.97 730.18 (a) Property, Plant and Equipment (i) Oil & gas assets 781.39 275.86 288.59 (a) Equity
Slide 17: Consolidated Statement of Profit or Loss
Consolidated Statement of Profit or Loss PARTICULARS (INR Cr) Q4-FY23 Q3-FY23 FY23 FY22 INCOME Revenue from operations 175.09 169.83 558.92 155.73 Other income 4.23 1.73 8.80 11.46 Total revenue 179.32 171.56 567.72 167.19 EXPENSES Expenses from producing oil and gas blocks 42.25 61.82 176.49 28.23
Slide 18: Consolidated Statement of Assets & Liabilities
Consolidated Statement of Assets & Liabilities PARTICULARS (INR Cr) FY23 FY22 FY21 PARTICULARS (INR Cr) FY23 FY22 FY21 ASSETS EQUITY AND LIABILITIES Non-Current Asset 1,381.51 1,387.44 958.41 Equity 947.21 753.12 733.17 (a) Property, Plant and Equipment (a) Equity share capital 132.26 132.26 132.26
Slide 19: Capital Market Data
Capital Market Data 1 Year share price movement (As on 31st March 2023) Marquee Investors % Holding 20% 10% Housing Development Finance 6.40% 0% Corporation Ltd (HDFC) -10% -20% Kotak Small Cap Fund 1.62% -30% -40% -50% Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar
Slide 20: Reference
‘to 5 REFERENCE
Slide 21: Production Sharing Model
Production Sharing Model Aggregate Aggregate Investment value of Net value of *Aggregate value to be taken from the year when production/investments Multiple Cash Income Investments first incurred Net Cash Income Investments Cost Petroleum Contractors exploration cost + Profit Petroleum + + Contract
Slide 22: Investment Multiple under PSC
Investment Multiple under PSC Block AAP-ON-94/1 PY-1* PY-3* North Balol Kharsang* CB-ON-7 Asjol* Gas 10% 10% 10% 10% - - - Royalty Oil/Cond 20% - 10% - 20% 20% 20% Cess Oil/Cond 20% 20% 20% 0% 20% 20% 20% Cost Recovery 80% 100% 100% 80% 100% 60% 100% Limit Investment Multiple (Govt. Share Percentage
Slide 23: Revenue Sharing Model
Revenue Sharing Model 90% 100% Bidding process based on the Revenue Sharing Model involves 2 parameters – % of Govt. share of revenue 90% 80% Lower Revenue Point (LRP) and Higher Revenue Point (HRP). The revenue share 70% for intermediate points will be calculated by linear interpolation. The bidder
Slide 24: Disclaimer
Disclaimer No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Such information and opinions are in all events not current after the d
Slide 25: Thank You
THANK YOU 24
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