Horizon Oil Limited · ASX:HZN

Horizon Oil — PNG Mining and Petroleum Conference 2017

15 slides from Horizon Oil's conference presentation, Nov 29, 2017

  1. Slide 1: PNG Mining and Petroleum Conference Presentation (ASX cover letter)

    Horizon Oil Limited ABN 51 009 799 455 Level 6, 134 William Street, Woolloomooloo NSW Australia 2011 Tel +61 2 9332 5000, Fax +61 2 9332 5050 www.horizonoil.com.au 29 November 2017 For personal use only The Manager, Company Announcements ASX Limited Exchange Centre 20 Bridge Street Sydney NSW 2000 H

  2. Slide 2: Western LNG – Developing Western Province Gas

    For personal use only HORIZON OIL LIMITED / ABN 51 009 799 455 Western LNG – Developing Western Province Gas Brent Emmett CEO Horizon Oil Limited PNG Mining and Petroleum Conference 28 – 30 Nov 2017 Session 5: Other proposed petroleum developments and oil production

  3. Slide 3: Disclaimer

    For personal use only Disclaimer Statements contained in this material, particularly those regarding the possible or assumed future performance, costs, dividends, returns, production levels or rates, prices, reserves, potential growth of Horizon Oil Limited, industry growth or other trend projection

  4. Slide 4: Presentation key points

    For personal use only Presentation key points • Where Western LNG sits in the Papua New Guinea LNG landscape • Western Province hosts a large gas and condensate resource, well‐defined by seismic, appraisal drilling and testing • Planning for an uncomplicated, low‐risk 1.5 mtpa LNG development and ex

  5. Slide 5: Horizon Oil (HZN) snapshot

    For personal use only Horizon Oil (ASX:HZN) snapshot • Sydney‐based public company listed on Australian Securities Exchange (ASX) • Portfolio of exploration, development and producing assets in Asia‐Pacific region, with net production of over 4,000 bopd, generating average annual net operating cash

  6. Slide 6: Western LNG project, PNG – key points

    For personal use only Western LNG project, PNG – key points • Preliminary project economics are attractive, with 20+ year plateau production for 2C gas resource and economics strengthened by significant condensate production. • 520 km gas and condensate pipelines will connect western foreland fields

  7. Slide 7: Papua New Guinea's LNG landscape

    For personal use only Papua New Guinea’s LNG landscape • PNG is a pro development jurisdiction with stable petroleum fiscal regime • Rich mineral and petroleum province with a history of successful large scale resource projects delivery e.g. PNG LNG • Jurisdiction well supported by the international

  8. Slide 8: Appraised western foreland fields to be aggregated for Western LNG

    For personal use only Appraised western foreland fields to be aggregated for Western LNG • Significant gas resource discovered and appraised in uncomplicated structures, with highly productive sandstone reservoirs • High level of condensate and LPG contained in the gas • Relatively easy surface acce

  9. Slide 9: Appraised western foreland fields – resource distribution and ownership

    For personal use only Appraised western foreland fields – resource distribution and ownership * • Contingent resource (2C) : 2.0 – 2.5 tcf gas 60 – 70 mmbbl condensate • Horizon Oil and Repsol have a combined interest of 70% of the total resource and operate all the fields , which will facilitate ag

  10. Slide 10: Western LNG development scheme

    For personal use only Western LNG development scheme WLNG development ‐ 1.5 mtpa sales capacity Aggregated raw gas production profile ‐ 2C resources 300 250 Wellhead rate (mmscfd) 200 150 100 50 ‐ 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 Production year PRL 21

  11. Slide 11: Development scheme selection criteria

    For personal use only Development scheme selection criteria • Standalone development – 1.5 mtpa right‐sized for appraised resource base • Simple concept with lowest technical and execution risk • Maximum use of standard, proven technology • System uptime consistent with global LNG projects (90‐95%)

  12. Slide 12: Western LNG well-placed to supply emerging demand areas

    For personal use only Western LNG well‐placed to supply emerging demand areas – Indonesia, South China Sea Rim, China, India • Strong increase in demand forecast in emerging Asian economies, pointing to supply shortfalls from 2023 • Many new entrants seeking to import LNG to: ̶ Offset decline in dom

  13. Slide 13: Benefits – to landowners, communities and the State

    For personal use only Benefits – to landowners, communities and the State • Creates long term employment and economic development opportunities in Western Province • Powerful generator of tax revenue and export income for 20+ year project life and will reduce reliance on hard currency‐funded imports

  14. Slide 14: Horizon Oil's health and community initiatives

    For personal use only Horizon Oil’s health and community initiatives Water and sanitation Remote area health patrols Vocational training and life skills Case based training for rural health workers Our partners Community health education PNG Mining and Petroleum Conference Nov 2017 13

  15. Slide 15: For more information please contact

    For personal use only For more information please contact: Horizon Oil Limited T: +61 2 9332 5000 Level 6, 134 William St Brent Emmett Chief Executive Officer F: +61 2 9332 5050 Woolloomooloo NSW 2011 E: info@horizonoil.com.au horizonoil.com.au Media enquiries Gavan Collery M: +61 419 372 210 Resour

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