Otto Energy Limited · ASX:OEL
Otto Energy — FY2021 Earnings Presentation
14 slides from Otto Energy's earnings presentation, Sep 29, 2021
Slide 1: FY 2021 Update
FY 2021 UPDATE Delivering value ASX: OEL
Slide 2: Disclaimer and important notices
Disclaimer and important notices Forward Looking Statements This presentation contains "forward-looking statements" that are subject to risk factors that are associated with oil and gas businesses. It is believed that the targets reflected in these statements are reasonable but they may be affected
Slide 3: Corporate snapshot (ASX: OEL)
Corporate snapshot (ASX: OEL) CAPITAL STRUCTURE LIQUIDITY POSITION SHARE REGISTER COMPOSITION Shares on issue 4,795 M Cash (30 June 2021) US$11.1 M Corporate/strategic 49% Share price (27 Sep 2021) A$ 0.009 PANR stock * (28 Sep 2021) US$14.5 M Retail 47% Options and share rights 96 M Debt - drawn (3
Slide 4: FY 2021 Highlights
FY 2021 Highlights (1) (1) These numbers are considered non-IFRS financial information. Please refer to the audited financial statements released on 27 September 2021 and Appendix 1 for the IFRS information and a reconciliation 4
Slide 5: Strategic Drivers
Strategic Drivers Pillar One Pillar Two Pillar Three Excellence in Base Asset Delivery Maximising Organic Growth Future Value Initiatives Opportunities The Company has established a portfolio non-operating interests in The Company seeks to create value Otto manages a disciplined multiple high-qualit
Slide 6: Company Overview – Gulf of Mexico Onshore/Offshore Basin
Company Overview – Gulf of Mexico Onshore/Offshore Basin A proven, large-scale hydrocarbon basin Operating Partner Hilcorp Energy ▪ Most prolific hydrocarbon basin in US, with rich liquid content Byron Energy Talos Energy ▪ Cumulative basin production of 22,463 MMBbl and 191,774 Bcf ▪ Average shelf
Slide 7: FY 21 – Operational and Financial Highlights
FY 21 – Operational and Financial Highlights (1) (2) (1) ) Please refer to the audited financial statements released on 27 September 2021 and Appendix 1 for calculation (2) Calculated using Adjusted EBIT, which is considered a non-IFRS financial information. Please refer to the audited financial sta
Slide 8: FY 21 – Operating Summary
FY 21 – Operating Summary OPERATIONAL SUMMARY 30 June 2021 30 June 2020 30 June 2019 Production Volumes (Mboe) South Marsh 71 498 527 726 Lightning 590 420 15 Green Canyon 21 18 - - Cash Flows (US$'000) Net cash outlflow from operating activities 30,137 23,028 31,258 Capital expenditures 14,931 27,3
Slide 9: FY 21 – Operating Summary: Controlling costs, improving cash flow
FY 21 – Operating Summary Controlling costs, Improving Cash Flow • A key strategic initiative has been to reduce the Company’s cost base and ensure an efficient yet effective cost profile, relative to Otto peers • The Company has reduced its G&A costs per boe by 28% in the past year to 30 June 2021
Slide 10: FY 21 – Financial Summary
FY 21 – Financial Summary FINANCIAL SUMMARY US$('000) 30 June 2021 30 June 2020 30 June 2019 Key Metrics Operating Revenue, net of Royalties 30,137 23,028 31,258 Adjusted EBITDAX (1) 29,114 16,699 23,484 (1) Adjusted EBITDA 26,438 3,632 (14,365) (1) Adjusted EBIT 20,610 (3,138) (19,372) Adjusted Net
Slide 11: FY 21 – Financial Summary
FY 21 – Financial Summary (1) (1) Strengthening the balance sheet and managing risk • Otto’s objective has been to maintain a simple capital structure, providing the Company with valuable optionality for discretionary capital • Effective net debt of US$0. When coupled with the improved energy price
Slide 12: FY 21 – Liquidity Summary
FY 21 – Liquidity Summary LIQUIDITY (US$'000), except ratios 30 June 2021 30 June 2020 30 June 2019 Balance Sheet - Assets Cash 11,100 16,551 7,383 Accounts Receivable 3,884 2,111 3,311 Marketable Securities 8,129 - - Total Current Assets 23,550 26,942 11,932 Balance Sheet - Liabilities Accounts Pay
Slide 13: Otto performance objectives
Otto performance objectives Maximise our base business while creating future value INORGANIC GROWTH BASE AND ORGANIC GROWTH OPTIONS OPPORTUNITIES PERFORMANCE OBJECTIVES Facilitated by underlying base business Base business + organic options (3-year group targets) Key targeting criteria Base business
Slide 14: Otto Energy: delivering value
Otto Energy: delivering value 1 The GoM 4 External assessment A mature, opportunity-rich environment Creating growth access through rigorous inorganic opportunities evaluation 2 Our base A diverse, liquids-rich, high-margin 5 Shareholder returns portfolio Against a highly disciplined approach to cap