Horizon Oil Limited · ASX:HZN
Horizon Oil — H1 2012 Earnings Presentation
5 slides from Horizon Oil's earnings presentation, Feb 28, 2012
Slide 1: HY 2012 Financial Results
HORIZON OIL LIMITED ABN 51 009 799 455 For personal use only HY 2012 Financial Results 28 February 2012 This presentation contains some references to forward looking assumptions, representations, estimates and outcomes. These are uncertain by the nature of the business and no assurance can be given
Slide 2: Key Results
Key Results Financial For personal use only Net production from Maari field of 245,173 barrels of oil Net sales volume 241,747 barrels of oil, generating revenue of US$28.0 million EBITDAX of US$21.6 million Exploration and development capital program of US$30.1 million executed Profit aft
Slide 3: Profit and Loss
Profit and Loss For personal use only 6 Months to 6 Months to Dec 2011 Dec 2010 (US$ million) illi ) (US$ million) illi ) Sales Revenue 28 0 28.0 24 8 24.8 Gross Profit on Oil Sales 18.8 15.5 Impairment of exploration phase expenditure (PRL 5) - (7.3) EBITDAX* 21.6 18.0 EBIT* 17.0 5.3 Profit before
Slide 4: Cash Flow
Cash Flow For personal use only 6 Months to 6 Months to Dec 2011 Dec 2010 (US$ million) (US$ million) Opening Cash 64.6 26.5 Net Cash from Operating Activities (excl G&A) 7.6 19.4 General & Administrative Expenditure (3.7) (3.5) Repayment of Bank Loans - (7.3) Repayment of Finance Lease on FPSO Raro
Slide 5: Outlook for 2012
Outlook for 2012 Corporate For personal use only Finalisation in Q1 2012 of reserves based debt facility of up to US$160 million to finance Block 22/12 and Stanley project development and corporate expenditure Maari, offshore NZ Optimisation of oil production and water injection at Maari field