Horizon Oil Limited · ASX:HZN
Horizon Oil — RIU Good Oil Conference 2023
14 slides from Horizon Oil's conference presentation, Sep 7, 2023
Slide 1: RIU – Good Oil Conference Presentation
Level 4, 360 Kent Street P +61 2 9332 5000 Sydney NSW 2000 F +61 2 9332 5050 Australia horizonoil.com.au 7 September 2023 HORIZON OIL LIMITED The Manager Company Announcements RIU – GOOD OIL CONFERENCE PRESENTATION ASX Limited Exchange Centre 20 Bridge Street Attached please find Horizon’s presentat
Slide 2: Good Oil & Gas Energy Conference September 2023
HORIZON OIL GOOD OIL & GAS ENERGY CONFERENCE SEPTEMBER 2023
Slide 3: Compliance Statement
COMPLIANCE STATEMENT Disclaimer Reserves Disclosure ► Statements contained in this material, particularly those regarding the possible or assumed ► Unless otherwise stated, all petroleum reserves and resource estimates refer to future performance, costs, dividends, returns, production levels or rate
Slide 4: Horizon's Portfolio
HORIZON’S PORTFOLIO China, Beibu Gulf, 26.95% production ► CNOOC (51% - Operator) ► Roc Oil (19.6%) ► Majuko Corp. (2.45%) New Zealand, Maari, 26% ► OMV (69% - Operator) ► Cue Energy (5%) 2023 - RIU GOOD OIL AND GAS ENERGY CONFERENCE 4
Slide 5: Delivering on Strategy
DELIVERING ON STRATEGY FURTHER DISTRIBUTIONS TO CONTINUE INVESTING IN MAXIMISE FREE CASHFLOW1 SHAREHOLDERS PRODUCTION GROWTH ► Generated record EBITDAX of US$103.5 million in ► Total FY23 Distributions of AUD 3.5 cents per ► ~US$30 million invested in successful WZ12-8E FY23, with net cash of US$35.
Slide 6: Horizon Snapshot
HORIZON SNAPSHOT HZN vs Brent Oil vs Energy Index 1% Aug-21 Oct-23 13% D E E D E D E D 25% $0.20 20 MAXIMISE FREE CASHFLOW1 $0.18 18 $0.16 16 ASX: HZN $0.14 14 15% OTCQB: HZNFF $0.12 12 Volume 10^6 Shares on issue: 1.6 billion $0.10 10 Market Cap. A$258 million $0.08 8 @ 16 cents $0.06 6 $0.04 4 19%
Slide 7: Financial Year 2023 Highlights
FINANCIAL YEAR 2023 HIGHLIGHTS STRONG CASHFLOW GENERATION DRIVING SHAREHOLDER RETURNS FINANCIAL OPERATIONAL SHAREHOLDER RETURNS ESG ► 46% increase in revenue to ► WZ12-8E project successfully ► AUD 1.5 cent per share interim ► Strong safety record better than US$152.1 million completed – production
Slide 8: Block 22/12: Record Production
BLOCK 22/12: RECORD PRODUCTION Export to Weizhou ASSET OVERVIEW Terminal WZ6-12 North WZ6-12 Mid WZ6-12 Sliver ► Block 22/12, Beibu Gulf, China, 26.95% WZ6-12 South CNOOC ► JV: CNOOC (51% - Block 22/12 Operator), Roc Oil (19.6%), Oil Australia Pty. Ltd. Facilities (2.45%) ► Block 22/12 generates app
Slide 9: Block 22/12: Indicative Future Opportunities
BLOCK 22/12: INDICATIVE FUTURE OPPORTUNITIES1 INDICATIVE FUTURE INDICATIVE FUTURE OPPORTUNITIES OPPORTUNITIES Infill/appraisal drilling Infill drilling Water injection ► The JV has a strong portfolio of indicative future project opportunities, CONTINUE comprising INVESTINGinfill IN and appraisal dri
Slide 10: Block 22/12: History & Forecast (Gross)
BLOCK 22/12: HISTORY & FORECAST (GROSS) 20,000 History Forecast History Forecast Indicative future activities End of End of 15,000 WZ6-12/12- Block 22/12 PSC 8W Production (Petroleum Gross oil rate (bopd) Period Contract) ODP1 forecast (SDA) recovery 16.2 MMbbl 10,000 5,000 Cumulative production to
Slide 11: Maari: Reliable Performance Justifying Field Life Extension Assessment
MAARI: RELIABLE PERFORMANCE JUSTIFYING FIELD LIFE EXTENSION ASSESSMENT ASSET OVERVIEW ► Maari, New Zealand, 26% ► JV: OMV (69% - Operator), Cue Energy (5%) ► Maari/Manaia generates approximately 20% of Horizon operating cashflow ► Maari crude continues to attract strong premiums with an average 2023
Slide 12: Maari: History & Forecast (Gross)
MAARI: HISTORY & FORECAST (GROSS) 10,000 History Forecast History Forecast Life Extension Indicative future activities Current permit 8,000 expiry Indicative future activities1 Gross Oil Rate (bopd) Expected cessation of production of 6,000 December 2030 (subject to permit extension) 4,000 Indicativ
Slide 13: Investment Highlights
INVESTMENT HIGHLIGHTS ► 26.95% Block 22/12, Beibu Gulf, China Material positions in ► 26% Maari Project, New Zealand excellent producing assets ► Current Horizon net production rate of ~4,500 bopd ► JV’s - IOC’s with decades of relevant in-country experience Right sized organization ► Focused active
Slide 14: Contacts
CONTACTS RICHARD BEAMENT, CEO +61 2 9332 5000 info@horizonoil.com.au Horizon Oil Limited Level 4, 360 Kent Street Sydney NSW 2000 Australia horizonoil.com.au