Horizon Oil Limited · ASX:HZN
Horizon Oil — Investor Presentation (March 2005)
27 slides from Horizon Oil's investor presentation, Mar 14, 2005
Slide 1: Investor Presentation - Update March 2005
Aieeiwon Oil Liriioed Ait bs 969 Bs 14 March 2005 The Manager, Company Announcements Australian Stock Exchange Limited Exchange Centre 20 Bridge Street Sydney NSW 2000 Dear Sir, INVESTOR PRESENTATION - UPDATE MARCH 2005 Please find attached a copy of a presentation providing investors and analysts w
Slide 2: Horizon Oil Limited Investor Presentation
HORIZON OIL LIMITED Investor Presentation This presentation contains some references to forward looking assumptions, representations, estimates and outcomes, These are uncertain by the nature of the business and no assurance can be given by Horizon Oil Limited that its expectations, estimates and fo
Slide 3: What Differentiates Horizon Oil?
im hat Differentiates Horizon Oj]? Hexzan0i * Quality board and management team >» Reputation >» Experience > Contacts *» Cornerstone shareholder in Oasis Energy Investments with 28% >» Management ownership in Oasis/HZN >» Expectation of high rates of return (multiples on investment) > 5 year timefr
Slide 4: Horizon Oil Statistics
gg Horizon Oil Statistics _Herizan.2i] | Ordinary Shares Shareholder fully paid % of total holding 7. Oasis Energy Investments Pty Lid 149,595,916 28.01% 2. Westpac Custodian Nominees Limited (incl. City Natural Resources High Yield Trust Pic) 17,636,800 3.30% February 2005, 3. Golden Prospect Pie 1
Slide 5: The Horizon Oil Team
i: | The Horizon Oil Team NON-EXECUTIVE DIRECTORS RESPONSIBILITIES EXPERIENCE Fraser Ainsworth am Chairman, Member of Audit, Remuneration and Risk Management Committees, Chairman of Nomination Committee 26 years in CSR’s resource & energy business, former MD of Delhi, former MD of SAGASCO, Founder &
Slide 6: About Oasis
eee About Oasis _Hoxizon Oi] « Oasis Energy Investments Pty Ltd is a company specifically incorporated to hold an interest in Horizon Oil = Current shareholding is 149.6 million ordinary shares, equivalent to 28% of shares on issue « Shareholders are:- » TRT Holdings, Inc. (and associates) - control
Slide 7: Development Projects
ae Development Projects _Horizen Oj Over the next 7 — 2 years... Project Location 2P Reserves’ HAZN Interest (mmbo) (%) Bayou Choctaw Louisiana, USA 12-16 14 - 28.5 Block 22/12 Offshore China 28 - 33 30 Maari Field Offshore New Zealand 50 10 ...Horizon Oil will participate in the development of 75 —
Slide 8: Net Production Forecast - 2P
a Net Production Forecast - 2P _HorizonDil On current plans, production peaks in 2007/8... 4500 4000 3500 HM Bayou Choctaw MiBlock 22/12 OMaari 3000 - 3 2500 - Qa 8 © 2000 - 1500 1000 | 500 5 0 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 ...generating significant
Slide 9: Bayou Choctaw lease tracts
WIETORY LEASE TRACT 4 S05 Acrese Horizon 04 28.5% WIGTORY LEASE TRACT 2 200 Acres Horlzos i 146.0% Horizan OF 18.8% OH aed Gog Pell 00 and Gow Show a CH, ahenvdaried ..and an unexploited 3D seismic survey Investor Presantation March 2005
Slide 10: 3D seismic reprocessing
Reprocessing of the 3D seismic has led to improved definition of exploitation and exploration targets Investor Presantation March 2005
Slide 11: Block 22/12 - China
ee Block 22/12 — China _Hosizan. Ol) Pre-development reserves in a producing basin... ul Wall | x / | SIMA ii sae thee Well L oe aa Ol and Gee Stave : 219 = | CH, abantaned & ed | a * ¥ * Werstotsiied | Fradaciion fanttiee | ead . .where around 1 billion bbls of oil have already been discovered Inve
Slide 12: Block 22/12 Development Plan
Block 22/12 Development Plan Herzan0il_ A unique, cooperative and collaborative development approach... = Concept >» Unmanned minimal structure(s) (water depth 30 m) connected by flowlines to CNOOC 12-1 platform » Crude processing and export carried out on 12-1 platform » Processing and transportati
Slide 13: Maari Development - NZ
fliaari Development —- NZ _Horizan.Oj The largest offshore oilfield in New Zealand... (il) Condensate pipaling @ 00 and Gas We ae pipeline tdethanol / LPG-pipeline Hactzar OM Pereniit » Tahand GewFietds. » Gas Condensate Fields. 433 kev? PEP 38413 an important domestic resource with significant upsi
Slide 14: Maari Development Planning
fe Maari Development Planning __tHerizan0il_ Having overcome the technical hurdles... « Field fully appraised, development planning and design underway « Overall development concept confirmed - horizontal wells with wellhead platform / FPSO or jack-up DPU / FSO « FEED underway to enable final concep
Slide 15: Preferred Development Option
eee Preferred Development Option Straight forward technology... TT) waa CLAM ANAAAAEAAAAA LLL Ne) ue Ly), ooo .. employed elsewhere in the region Investor Presantation March 2005
Slide 16: South China Sea regional focus
© Pontiane Kalimantan Balikpapy ie) Oil & Gas Producing Regions Focus is South China Sea north and east of Malacca in an area with » Strong oil and gas demand >» Good deal flow » Oilfield equipment and supplies Investor Presantation March 2005
Slide 17: 22/12 Prospects
22/12 Prospects _Herizen.Oi Wei 6-12 area prospects and leads with 40-50 mmbo reserves potential ii, Skr Investor Presantation March 2005
Slide 18: Prospect Geophysics
fe Prospect Geophysics _Horizon.0i] Seismic attributes being used... Near Offset Wei 8124 Synthetic Seismogram pee Full Offeet Far* (Far - Near) Offset .. (0 reduce prospect risk Investor Presantation March 2005
Slide 19: Lei Dong Block 24/05
fe Lei Dong Block 24/05 Horizon Oi] Horizon Oll has access to an entire virgin basin... Te aE HE 4 aa i r CHINA MAOMING SAG Ming OF Shaw BLOCK 29" | Horizan 02 30%) 456 em FUSHAN SAG CNPC Producing Ov cs ag Painanisiend | Investor Presantation March 2005
Slide 20: 2D seismic reprocessing
eee Nearly 3000 km of good quality 2D seismic being reprocessed... aatei2 ...to confirm basin architecture and pre-defined prospects Investor Presantation March 2005
Slide 21: East Sag vs. Weixinan
oe East Sag vs. Weixinan _Hoxizen.Qi] | Obvious similarities between the East Sag in Lei Dong... eee o aA ores ..and th Investor Presantation March 2005
Slide 22: East Sag vs. Weixinan
Pate East Sag vs. Weixinan _Hovizon. 07 Lei Dong East Sag contains a look-alike to 12-1 field in Weixinan... Investor Presantation March 2005
Slide 23: QS 9-1 prospect
bao PP roscect OS Sai. Horizon Oj ss! : rs Se ...the QS 9-1 prospec Investor Presantation March 2005
Slide 24: Horizon Oil's Portfolio
fee Horizon Oil's Portfolio Financial Reward (As measured by estimated net present value in $millions} 10% 30% 14% -28.5% 100% Technical Risk * Deals X,Y and Z are business opportunities currently under review. Investor Presantation March 2005
Slide 25: HZN Valuation - US$30 Oil
a ZN Valuation — US$30 Oil Horizon. Of Net $m cps reserves (mmbo) Market cap (534 m shares) 53 10 Cash 12 2 Maari P50 reserves 5 30 — 50 6-9 Development of Block 22/12 discoveries 4-5 20 - 40 4-7 Bayou Choctaw exploration / development 2-3 30 - 50 6-9 Total — Projects under development 11-13 93 - 15
Slide 26: Activity Schedule
iin &ctivity Schedule _Horizen Oj Task Name Bayou Shostaw 7" \Wiorkever of Existing Zones En nee] Workover of New Zones 0 EE ‘ i Hl PUD Driling (~-B wells) : [ Stable production : . : i Exploration Drilling {~4 wells?) Block 22/2 Development Pre-Feasibility Study EEE] Feas bilty Stuay FEEEn=] ODP &
Slide 27: Level 10, Suite 1, Wiltam Streat
Level 10, Suite 1, 100 Wiltam Streat Sydney, NSW 2011, Austoia yaurvehorizonall. com.2u 1461 2.0032 5000, F 481 2 G32 6050