Tullow Oil Plc · LSE:TLW
Tullow Oil — FY2019 Earnings Presentation
10 slides from Tullow Oil's earnings presentation, Mar 12, 2020
Slide 1: Fact Book: 2019 Full Year Results
TULLOW } | Fact Book Tullow Oil plc | 2019 Full Year Results 12 March 2020
Slide 2: Where we operate
Where we operate Ot Comoros E Ghana EDP UK 4 Cote d'lvoire ED P Kenya ED Equatorial Guinea D P Namibia E Gabon EDP Uganda D Jamaica : : South America Ghana Suyana Céte d'ivoire we te Suriname Equatorial Guinea Were Argentina E Peru E @ Gabon Kenya Guyana E Suriname E Peru Comoros Decommissioning Key
Slide 3: Summary of 2019 Full Year Results
Summary of 2019 Full Year Results it 2019 2018 Sales revenue ($m) 1,683 1,859 Gross profit ($m) 759 1,082 Operating (loss)/profit ($m) (1,385) 528 (Loss)/profit before tax ($m) (1,653) 261 (Loss)/profit after tax ($m) (1,694) 85 Basic (loss)/earnings per share (cents) (120.8) 6.1 Free cash flow 355
Slide 4: Working Interest Production
| Working Interest Production! N) 5 2019 Actual FY 2020 Forecast Oil production (kbopd) (kbopd) GHANA Jubilee 31.0 29.0 TEN 28.9 23.0 Total Ghana 59.9 52.0 EQUATORIAL GUINEA Ceiba 16? 1.7 Okume 3.5 3.4 Total Equatorial Guinea 5.4 5.0 GABON Tchatamba 3.7 3.4 Limande 0.9 1.0 Etame Complex 0.9 1.2 Othe
Slide 5: Capital Expenditure (Capex)
TULLOW Capital Expenditure (Capex) Ot 2019 CAPEX — Actuals ($m) Exploration & Appraisal Development 2019 Total West Africa 4 253 257 East Africa ] 98 99 New Ventures 2020 CAPEX — Forecast ($m) Exploration & Appraisal Development 2020 Total Ghana - 140 140 Non-Op - 80 80 Kenya - 40 40 Uganda - 15 15
Slide 6: Costs, Depreciation and Tax
TULLOW Costs, Depreciation and Tax lf Operating Data OPERATING COSTS ' éoce tebe Equatorial Guinea 15.7 20.0 Céte d'lvoire 15.8 19.0 Gabon 2 18.8 22.0 Ghana ? 10.2 9.0 DEPRECIATION * oc ee Equatorial Guinea 5.6 5.0 Céte d'ivoire 16.6 13.0 Gabon 10.0 9.0 Ghana ? 26.9 22.0 Other Information TAX AND NU
Slide 7: Liquidity and Hedging
TULLOW a Liquidity and Hedging it Liquidity Position $m 31 Dec 2019 Cash and cash equivalents 290 Debt drawings RBL Facility ($2,450m) ! 1,345 Senior Notes ($1,450m) 1,450 Convertible Bond ($300m) 300 Total debt 3,095 Net debt 2,805 Facility headroom plus free cash 1,152 1 Reserves Based Lending fac
Slide 8: 2019 Reserves and Resources Summary
TULLOW a 2019 Reserves and Resources Summary Ot WEST AFRICA EAST AFRICA NEW VENTURES TOTAL Oil Gas Oil Gas Oil Gas Oil Gas Petroleum mmbbl bcf mmbbl bcf mmbbl Bcf mmbbl bef mmboe COMMERCIAL RESERVES 1 Jan 2019 236.2 259.9 - - - - 236.2 259.9 279.5 Revisions 12.9 | (110.4) - - - - 12.9 | (110.6) (5.5
Slide 9: Net Daily Entitlement as % Production
TULLOW Net Daily Entitlement as % Production it West Africa Production Contract Type 2020 ($60/bbU) 2020 ($50/bbU) COTE D'IVOIRE Espoir PSC 86 91 EQUATORIAL GUINEA Ceiba PSC 80 82 Okume Complex PSC 80 81 GABON Echira Corp Tax 100 100 Etame PSC 0 0 Limande Corp Tax 100 100 Niungo Corp Tax 100 100 Oba
Slide 10: Tullow Oil plc contact details
Tullow Oil plc 9 Chiswick Park, 566 Chiswick High Road London W4 5XT United Kingdom Tel: +44 (0)20 3249 9000 Fax: +44 (0)20 3249 8801 Email: ir@tullowoil.com Web: www.tullowoil.com