Horizon Oil Limited · ASX:HZN
Horizon Oil — FY2014 Earnings Presentation
11 slides from Horizon Oil's earnings presentation, Aug 27, 2014
Slide 1: Financial Year FY2014 Financial Results
Financial Year FY2014 Financial Results For personal use only HORIZON OIL LIMITED 27 August 2014 ABN 51 009 799 455
Slide 2: Five Year Performance and Outlook
Five Year Performance and Outlook For personal use only Revenue (US$m) 2014 138.5 2013 48.1 2012 50.4 2011 59.4 2010 48.0 Maari Beibu Completion of Maari Growth Projects is expected to increase production to operator forecast Revenue from the Beibu Gulf will be substantially maintained through 2015,
Slide 3: 2014 Financial Year Highlights
2014 Financial Year Highlights For personal use only 1.36 million barrels of oil sales, at an average realised price (net of hedging) of US$102.1 per barrel, Performance generating revenue of US$138.5 million, and operating cashflows (excl G&A/other expenses) of US$75.1 million US$98.9 million cash
Slide 4: Operational Results
Operational Results For personal use only LTIFR of 2.8 (Lost Time Injury Frequency Rate), TRIFR of 7.0 (Total reportable injury frequency rate) HSSE No significant loss of containment incidents (<1 barrel of oil equivalent) Development of WZ 12-8W field completed and on stream in August 2013; combin
Slide 5: Profit and Loss
Profit and Loss For personal use only 12 Months to 12 Months to Change Change Jun 2014 Jun 2013 (US$ million) (US$ million) (US$ million) (%) Production 1.43 mmbbls 0.50 mmbbls 0.93 mmbbls 185% Increased sales Sales 1.36 mmbbls 0.47 mmbbls 0.89 mmbbls 190% revenue and results driven by Realised Oi
Slide 6: Profit and Loss Analysis
Profit and Loss Analysis For personal use only 160.0 140.0 120.0 100.0 US$m 80.0 138.5 60.0 99.5 40.0 48.9 20.0 12.8 0.0 Revenue Operating Special Oil Maari Repairs Net gain on General & EBITDAX Depreciation Exploration EBIT Finance Costs Tax expense Profit after Costs Gain Levy & sale of assets Adm
Slide 7: Cash Flow
Cash Flow For personal use only 12 Months 12 Months Change Change to Jun 2014 to Jun 2013 (US$ (US$ (US$ (%) million) million) million) Opening Cash 19.0 19.3 (0.3) (2%) Significant increase in net cash from Net Cash from Operating Activities (excl G&A/Other) 75.1 23.0 49.7 225% operating activiti
Slide 8: Cash Flow Analysis
Cash Flow Analysis For personal use only 250.0 200.0 150.0 US$m 100.0 50.0 98.9 19.0 0.0 Opening cash at Net Cash f rom G&A / Other Net proceeds Proceeds f rom Debt Repayment Development Exploration Cash at 30 June 30 June 2013 Operating Expenditure f rom sale of issue of ordinary Expenditure Expend
Slide 9: Net Reserves, Contingent Resources and Prospective Resources as at 30 June 2014
Net Reserves1, Contingent Resources1 and Prospective Resources1 as at 30 June 2014 For personal use only RESERVES CONTINGENT RESOURCES PROSPECTIVE RESOURCES Proven + Probable Proven + Probable Best Estimate Block 22/12 PDL 10 (Stanley WZ 12-8E4 Liquids)5 Block 22/128 PMP 38160 1.5 mmbo 0.4 mmbo PRL
Slide 10: Outlook for 2015
Outlook for 2015 For personal use only Corporate Outlook Operating cashflows expected to increase significantly following Maari Growth Projects and sustained China production, barring unforeseen events Maari/Manaia and PEP 51313, offshore New Zealand Complete Maari Growth Projects drilling campa
Slide 11: Financial Year Results Presentation Information
Financial Year Results Presentation Information For personal use only For further information: Michael Sheridan Chief Financial Officer/Company Secretary +61 2 9332 5000 exploration@horizonoil.com.au www.horizonoil.com.au The information in this presentation is an overview and does not contain all i