Horizon Oil Limited · ASX:HZN
Horizon Oil — Ord Minnett Emerging Energy Day 2023
17 slides from Horizon Oil's conference presentation, Dec 6, 2023
Slide 1: Horizon Oil Limited Ord Minnett Emerging Energy Day Presentation
Level 4, 360 Kent Street P +61 2 9332 5000 Sydney NSW 2000 F +61 2 9332 5050 Australia horizonoil.com.au 6 December 2023 HORIZON OIL LIMITED ORD MINNETT EMERGING ENERGY DAY PRESENTATION The Manager Company Announcements ASX Limited Exchange Centre 20 Bridge Street Attached please find Horizon’s webc
Slide 2: Ord Minnett Emerging Energy Day
ORD MINNETT EMERGING ENERGY DAY 6 DECEMBER 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: 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 5: 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 6: Horizon Snapshot
HORIZON SNAPSHOT HZN vs Brent Oil vs Energy Index 1% Aug-21 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$250 million $0.08 8 @ 15.5 cents $0.06 6 $0.04 4 19% $0.0
Slide 7: 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%) ORD MINNETT EMERGING ENERGY DAY PRESENTATION 7
Slide 8: China
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Slide 9: 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. (2.45%) Facilities ► Block 22/12 generates app
Slide 10: 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 11: Block 22/12: History & Forecast (Gross)
BLOCK 22/12: HISTORY & FORECAST (GROSS) History Forecast 20,000 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 12: New Zealand
NEW ZEALAND
Slide 13: Maari: Reliable Performance Justifying Field Life Extension
MAARI: RELIABLE PERFORMANCE JUSTIFYING FIELD LIFE EXTENSION 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 financial
Slide 14: Maari: History & Forecast (Gross)
MAARI: HISTORY & FORECAST (GROSS) History Forecast 10,000 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 Potential
Slide 15: Plan for the Next 12 Months
PLAN FOR THE NEXT 12 MONTHS1 2023 2024 Q4 Q1 Q2 Q3 Block 22/12 possible infill drilling Planning in progress (between two and five wells)1 Block 22/12 & WZ12-8E possible liquid- Design in progress & ongoing handling capacity upgrades1 Preliminary planning in progress; WZ12-8E Phase 3 planning1 subje
Slide 16: Delivering on Strategy
DELIVERING ON STRATEGY FURTHER DISTRIBUTIONS TO CONTINUE INVESTING IN MAXIMISE FREE CASHFLOW1 SHAREHOLDERS PRODUCTION GROWTH ► Recent investment in Block 22/12 ► Regular distributions continue to be a ► Focus on developing the Company’s WZ12-8E development, and WZ6-12 infill priority substantial inv
Slide 17: 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