Dana Gas Pjsc · ADX:DANA

Dana Gas Pjsc — Q2 2017 Earnings Presentation

20 slides from Dana Gas Pjsc's earnings presentation, Aug 16, 2017

  1. Slide 1: Clean Energy for the Future: Q2 2017 Financial Results

    Clean Energy for the Future Q2 2017 –Financial Results 16 August 2017

  2. Slide 2: Disclaimer

    Disclaimer This presentation contains forward-looking statements which may be identified by their use of words like “plans,” “expects,” “will,” “anticipates,” “believes,” “intends,” “projects,” “estimates” or other words of similar meaning. All statements that address expectations or projections abo

  3. Slide 3: Contents

    Contents 1 Headlines 2 Financial Update 3 Country Performance 4 Summary

  4. Slide 4: 1. Headlines

    1. Headlines

  5. Slide 5: Highlights

    Highlights Operations Financials  H1 Group production 6% higher at 67,550 boepd  H1 - $23m net profit on $222m revenue – up 77% and 25%  H1 Egypt production up 13%  Higher profits due to increase in Company’s entitlement in  Successful completion of El Wastani gas plant shut-down Kurdistan Regi

  6. Slide 6: 2. Financial Update

    2. Financial Update

  7. Slide 7: Financial Highlights

    Financial Highlights Gross Revenue (million USD) EBITDA (million USD) 250 222 150 2016 2017 200 178 122 150 100 89 96 104 100 53 50 42 50 0 0 H1 2016 2017 Q2 H1 Q2 Gross Profit (million USD) Net Profit (million USD) 75 30 2016 2017 2016 2017 59 23 50 20 42 13 12 25 20 21 10 7 0 0 H1 Q2 H1 Q1 7

  8. Slide 8: Production (boepd) & Realized Prices (USD/boe)

    Production (boepd) & Realized Prices ( USD/boe) Average production H1 2017 Vs H1 2016 Average production Q2 2017 Vs Q2 2016 66,650 65,400 67,550 Q2 2016 63,700 H1 2016 Q2 2017 H1 2017 36,550 37,650 39,300 34,850 26,100 25,400 25,800 25,900 3,250 1,650 750 700 2,300* 1,700 750 650 Group Egypt KRI UAE

  9. Slide 9: CAPEX & OPEX

    CAPEX & OPEX G&A / OPEX (million USD) CAPEX (million USD) G&A OPEX 56 52 234 27 25 122 23 80 13 13 7 7 2015 2016 H1 2016 H1 2017 2015 2016 H1 2016 H1 2017 G&A / OPEX CAPEX  Company continues to optimise costs  Capex at $13m – minimal outlay  Operating cost reduced by a further 7%  Continue to ba

  10. Slide 10: Cash Flow and Liquidity

    Cash Flow and Liquidity  Positive free cash flow due to improved Free Cash Flow (million USD) collections, higher revenues, lower capital expenditure  Collected $198m in H1 2017 203  $337m cash in hand end of H1 2017 181 169 142  Payment of Zora Loan ($60m) 112 82  Cash preservation– matching i

  11. Slide 11: Receivables & Collections

    Receivables & Collections 30 June 2017, total trade receivables is $900 million Egypt KRI 300 Billing 250% 300 Billing 140% 129% Collection Collection 229% % % 115% 120% 200% 225 225 100% Millions ($) Millions ($) 150% 80% 121% 150 150 111% 60% 100% 64% 40% 75 75 30% 50% 14% 20% 173 210 113 125 123

  12. Slide 12: 3. Country Performance

    3. Country Performance

  13. Slide 13: Egypt: Strong production

    Egypt: Strong production El Wastani  Successfully completed planned shut- down of El Wastani plant in June South Abu El Naga • 5 days complete shutdown and 4 days partial shut-down • Work conducted by WASCO • Excellent HSSE performance  Faraskur Compression nearing completion  Sustain production

  14. Slide 14: Egypt: Growth potential

    Egypt: Growth potential  North El Salhiya (Block 1) • 100% owned concession • Drilling to commence Q4 2017 • 3 onshore wells: North El Basant, ESAEN-1 and Bahy-2  North El Arish (Block 6) • Substantial and material prospect inventory North El Arish • Plans underway to drill the 1st offshore well i

  15. Slide 15: Kurdistan Region of Iraq

    Kurdistan Region of Iraq  Dana Gas share of production averaged 25,900 boepd in 1H of 2017 • 302 MMscfd of natural gas • 13,063 bbl/d of condensate • 898 MT/d of LPG  Direct condensate sales to the KRG through the Jambour pipeline  A planned shutdown is due in H2 2017 for essential repair works 1

  16. Slide 16: UAE

    UAE  Producing gas since February 2016  H1 2017 production was 1,700 boepd, 26% decline  Preliminary results of FDP indicates further well intervention uneconomic at current gas prices  Result will need to be taken into consideration during annual reserves audit  Any final decision on the plant

  17. Slide 17: Arbitration & Sukuk Update

    Arbitration & Sukuk Update Kurdistan Region of Iraq  Quantum hearing in September 2017  Continue to pursue money owed from 2 and 3 Partial Final Award UAE Gas Project  Judgement expected before mid 2018 Sukuk  No offer currently on the table and DG is pursuing litigation-driven outcomes 17

  18. Slide 18: 4. Summary

    Ly 4. Seomary ff i

  19. Slide 19: Summary

    Summary Solid second quarter – operations, financials and cost 1 efficiencies 2 Strong collections from Egypt and KRI Potential for exciting medium-term opportunities in Egypt 3 and development of world class assets in KRI Short-to-mid term priorities are maximizing production for 4 minimal costs an

  20. Slide 20: Reach Us: Dana Gas PJSC

    Reach Us: Dana Gas PJSC P. O. Box 2011, Sharjah, UAE www.danagas.com E-mail : mohammed.mubaideen@danagas.com Direct : +971 6 519 4401

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