Horizon Oil Limited · ASX:HZN
Horizon Oil — Shareholder Meeting (November 2024)
31 slides from Horizon Oil's shareholder meeting presentation, Nov 20, 2024
Slide 1: Horizon – Annual General Meeting 2024
Level 4, 360 Kent Street P +61P 2+61 9332 2 9332 50005000 Sydney NSW 2000 F +61F 2+61 9332 2 9332 50505050 Australia horizonoil.com.au horizonoil.com.au 20 November 2024 The Manager Company Announcements ASX Limited Exchange Centre 20 Bridge Street Sydney NSW 2000 HORIZON – ANNUAL GENERAL MEETING 20
Slide 2: Chairman's Address – Mike Harding
Chairman’s Address – Mike Harding For personal use only As announced in August this will be my last AGM following which I will retire from the board. And I have to say, I’m leaving with very mixed feelings. I am very proud of what’s been achieved by all concerned especially our returns to shareholde
Slide 3: Chairman's Address (continued)
As I prepare to stand down, I am confident that the future is bright for our company. Whilst I will miss my role here I will carry many fond memories. Finally, I would like to thank the board, executive team, staff and consultants and of course our shareholders. I will now hand over to Richard to pr
Slide 4: CEO's Address – Richard Beament
CEO’s Address – Richard Beament For personal use only Thanks Mike. Firstly, let me welcome you again to this year’s AGM. Now before I dive into the presentation, I wanted to acknowledge Mike’s recently announced retirement and the associated Board changes. To Mike, I would like to extend our gratitu
Slide 5: Delivering on Strategy
I will start by pointing you to our compliance statement and disclaimer which relates to today’s presentation which I would encourage you all to read. I would also like to highlight that all references in today’s presentation are to US dollars unless otherwise stated. Delivering on Strategy For pers
Slide 6: Cashflow Journey Over A Decade
Our recent investment in the Mereenie gas field also underpins Northern Territory domestic gas supply meeting about 30-40% of current demand. This, together with the strategic gas sales agreement signed with Arafura Rare Earth’s demonstrates the critical role that Mereenie gas plays in supporting th
Slide 7: A Word on the Share Price
A Word on the Share Price For personal use only Mike has already commented on the share price, but I want to further focus on the strong share price performance we have had, particularly since mid 2022 where we positively diverged away from the oil price and the ASX 200 Energy Index. This divergence
Slide 8: China Block 22/12 – Solid Production Performance Continues
China For personal use only China Block 22/12 – Solid Production performance continues & reserves replacement plans continue Starting with Block 22/12 in China. This was another good year for Block 22/12, with an average annual production rate of over 9,500 bopd, roughly in line with the long-term f
Slide 9: Maari: Production Remains Reliably Stable; Licence Extension Application
Maari: Production Remains Reliably Stable; Licence Extension Application This Calendar Year Turning now to New Zealand and Maari, where we have seen continued stable reservoir performance. The successful workover of the Manaia-1 well around the middle of the 2023 calendar year reinstated production
Slide 10: Mereenie location and gas market
For those unfamiliar with Mereenie, this map shows its location, about 250km to the west of Alice Springs. Whilst the field is currently predominately a gas field, it was originally developed with a focus on oil as the NT gas market was relatively siloed and modest. This all changed in 2019 with the
Slide 11: Production forecast and future activities
current licence expiry at the end of 2027. We have included in light green/aqua our expected Maari life extension forecast for which an extension application has now been lodged with the regulator. Assuming that the application is granted, Maari together with Mereenie provide a strong production fou
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AGM PRESENTATION + N ja) N [ud jam jaa} ba wi > jeny Pat om N = Ajuo asn yeuosied JO.
Slide 13: Chairman's Address | Mike Harding
AIRMAN’S ADDRESS | MIKE HARDING | = c je) 0) o 3
Slide 14: Achievements Over the Past Years
ACHIEVEMENTS OVER THE PAST 6 YEARS Horizon Oil Limited share price ["HZN"] versus S&P/ASX200 Energy Index and Brent Crude Oil only ‘0 ‘0 uge a onal ¢ 0 00 PPP NOEL APT TR WRT UNO UATTON MDN NON ORT TO sii allay = pers NET CASH/INET DEBT) Novia May19 — Nov19 May20Nov20May21 Nov21.May22. Nov22. May28N
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Slide 18: Cashflow Journey Over A Decade
For personal use only CASHFLOW JOURNEY OVER A DECADE NET CASH/(NET DEBT] 150 100 50 US$m ° 3S : - . - - i -150 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 mNet cash/[net debt) m= Cumulative distributions to shareholders FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 2024-AGM PRESENTATION | 11
Slide 19: A Word on Share Price
For personal use only A WORD ON SHARE PRICE LINDIZN Horizon Oil Limited share price [("HZN") versus S&P/ASX200 Energy Index and Brent Crude Oil $0.25 $0.20 $0.15 $0.10 $0.05 esi itis dt ilk hath ful. hist lid ll Julia. ll Mal dha iA ids, dda ssl 70 60 50 40 © =) oO rie 30 & s 20 10 Nov 18 May 19 Nov
Slide 20: Asset Update and Outlook
For personal use only ASSET UPDATE AND OUTLOOK China, Beibu Gulf Block 22/12 oil project Horizon 26.95% non-operated CNOOC [51% - Operator) Roc Oil (19.6%) Majuko Corp. [2.45%] New Zealand, Taranaki Basin Maari oil project [PMP 38160) Horizon 26% non-operated Australia, Northern Territory Mereenie o
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Slide 23: New Zealand
, NEW ZEALAND Ajuo asn jeuosiad Jo
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Slide 27: NT Gas Market in Transition – Critical Role of Mereenie
For personal use only NT GAS MARKET IN TRANSITION-CRITICAL ROLE OF MEREENIE SIGNIFICANT NT MARKET SHORTFALL BEING BALANCED BY DIVERTED LNG WITH SUPPLY UNDERPINNED BY MEREENIE Significant decline in Blacktip supply since 2022 Inpex & temporary DLNG tail gas have helped to plug the gap. Mereenie produ
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Slide 29: Production Forecast to End 2030
For personal use only PRODUCTION FORECAST TO END 2030 c 20 IN 2 FORECAST STABLE PRODUCTION FROM OUR THREE ASSETS WITH RUNNING ROOM TO END 2030 GROUP PRODUCTION FORECAST TO END 2030, BOEPD 7,000 = Mereenie forecast mMaari forecast 6,000 indicative Maari license extn. mBlock 22/12 forecast 5,000 = Por
Slide 30: Plan for the Next Months
For personal use only PLAN FOR THE NEXT 12 MONTHS Water-handling capacity upgrade CHINA, BLOCK 22/12 2025 drilling & workover program! NEW ZEALAND, Maari licence extension process MAARI P 2x P3 gas infill wells H AUSTRALIA, ! MEREENIE H Stairway appraisal well{s}’ H | indicative only and remain subj
Slide 31: Horizon Oil Limited contact details
9332 5000 horizonoil.com.au Horizon Oil Limited Level 4, 360 Kent Sea Se NSW 2000 Australia h onoil.com.au