Horizon Oil Limited · ASX:HZN
Horizon Oil — Shareholder Meeting (November 2011)
25 slides from Horizon Oil's shareholder meeting presentation, Nov 18, 2011
Slide 1: Corporate Presentation
For personal use only 18 November 2011 The Manager, Company Announcements Australian Securities Exchange Limited Exchange Centre 20 Bridge Street Sydney NSW 2000 CORPORATE PRESENTATION Please find attached CEO, Brent Emmett’s presentation following Horizon Oil’s Annual General Meeting. Yours faithfu
Slide 2: Annual General Meeting
HORIZON OIL LIMITED ABN 51 009 799 455 For personal use only Annual General Meeting 17 November 2011 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 by
Slide 3: Opportunities – Actions
HORIZON OIL LIMITED ABN 51 009 799 455 For personal use only Opportunities – Actions Brent Emmett Chief Executive Officer 17 November 2011
Slide 4: Asset Inventory
Asset Inventory Focus on productive fairways and mature operating environments in SE Asia / Australasia … For personal use only …where there is continuing strong demand for oil and gas 3
Slide 5: Net Reserves, Resources and Exploration Potential at 31/12/10
Net Reserves, Resources and Exploration Potential at 31/12/10 – Post PRL 21 & Block 22/12 Acquisitions and Stanley Upgrade For personal use only RESERVES CONTINGENT RESOURCES EXPLORATION POTENTIAL Proven + Probable Proven + Probable Unrisked Mean 1 Reduced to allow for CNOOC participation at 51% 2 N
Slide 6: Net Production Forecast – All Reserves and Resources
Net Production Forecast – All Reserves and Resources For personal use only 5
Slide 7: Net Production Forecast – Excluding Elevala/Ketu
Net Production Forecast – Excluding Elevala/ Elevala/Ketu For personal use only 6
Slide 8: US DoE Inventories Relative to Year Average
US DoE Inventories Relative to 5 Year Average (mmbbl (mmbbl)) Inventories running down … For personal use only 2011 Barclays Capital Research … and OPEC spare capacity evaporating 7
Slide 9: Maari / Manaia Fields – New Zealand
Maari / Manaia Fields – New Zealand O stream On t March M h 2009… 2009 For personal use only Maari / Manaia: HZN 10% OMV 69% (Op) Todd 16% CUE 5% …producing over 16 mmbo and US$1.4 billion in revenue to date 8
Slide 10: Maari / Manaia Upside Potential
Maari /Manaia Upside Potential For personal use only Potential to increase recoverable reserves from 60 mmbo to 80 – 100 mmbo 9
Slide 11: PEP 51313 – New Zealand
PEP 51313 – New Zealand 2 595 sq km 2,595 k block bl k with ith 5 year tterm, llogical i l extension t i off M Maarii / M Manaia… i For personal use only PEP 51313: HZN 30% Todd 50% (Op) CUE 20% …deep prospect and lead inventory in proven play-types 10
Slide 12: Maari/Manaia Opportunities
Maari/Manaia Opportunities For personal use only Restore Maari Moki production to design level Develop Maari M2A and Manaia Mangehewa zones Evaluate Manaia Moki, Moki Mangahewa and F-sand F sand zones:- zones: 105 mmbo in-place in place Evaluate Maari M2A and Mangahewa:- 70 mmbo in-place T
Slide 13: Maari/Manaia Actions
Maari/Manaia Actions For personal use only Operator working with ESP supplier to improve run run-time; time; scale treatment procedures now in place; plan to increase water injection into Maari upper Moki zone in near term Pre-FEED studies underway on full field development of Maari M2A, Maari M
Slide 14: China 22/12 – Discoveries and Prospects
China 22/12 – Discoveries and Prospects 176 mmbo-in-place b i l discovered... di d For personal use only Block 22/12 Post- CNOOC Back-in: HZN 26.95% CNOOC 51.00% (Op) ROC 19.60% Majuko Corp 2.45% …with further exploration potential 13
Slide 15: Block 22/12 Phased Development Scheme
Block 22/12 Phased Development Scheme For personal use only 14
Slide 16: Block 22/12 Development Status and Timeline
Block 22/12 Development Status and Timeline For personal use only Basic engineering and design complete Project ~10% complete Over half of US$300m project cost contracted out at fixed price, under budget so far In field pipeline installation February 2012 WHPs and PUQB installation May P
Slide 17: Block 22/12 Opportunities and Actions
Block 22/12 Opportunities and Actions For personal use only Opportunities Exploration potential of Sliver, Liushagang and WZ6-12N Deep prospects:- 10 mmbo recoverable potential Phase II development of WZ12-8E and WZ12-3 accumulations :- 105 mmbo in-place Actions Drill Sliver, Liushagang and WZ
Slide 18: WZ12-8E Early Production Concept
WZ 12 12--8E Early Production Concept For personal use only WZ 12‐1PUQB Leased L d mobile bil production d ti platform NOED Mobile Production Platform Flexible pipeline Initially up to three production wells Run extended DST or pilot production Drill more wells (4-5) depending on productio
Slide 19: Papua New Guinea
Papua New Guinea U ti k iin iindustry Uptick d t activity, ti it with ith large l projects j t gaining i i traction… t ti For personal use only … major gas aggregation play emerging in Western Corridor / Offshore 18
Slide 20: PRL 4 and PRL 21 – Papua New Guinea
PRL 4 and PRL 21 – Papua New Guinea For personal use only PRL 4: HZN 50% (Op) Talisman 50% PRL 21: HZN 45% (Op) Talisman 40% Kina 15% 19
Slide 21: Stanley Field Development Status
Stanley Field Development Status For personal use only Stanley-2 and -4 development wells successfully drilled with good results Reserves certified, with 30% upgrade to pre-drill volumes FEED complete Field production facility site and access near complete; plant supplier selected Condensa
Slide 22: Stanley Development Project
Stanley Development Project For personal use only 21
Slide 23: PNG Opportunities and Actions
PNG Opportunities and Actions Opportunities For personal use only Progress Stanley field to development Market Stanley gas Appraise Elevala and Ketu gas/condensate discoveries:- 25 mmbbl condensate and 400 bcf gas recoverable Evaluate Tingu prospect:- 10 mmb condensate and 200 bcf recoverabl
Slide 24: Elevala-2 Well and Camp Site
Elevala--2 Well and Camp Site Elevala For personal use only 23
Slide 25: Please visit the Horizon Oil website
Please visit the Horizon Oil website www.horizonoil.com.au to see: see:-- Detailed Investor Presentation For personal use only Latest Quarterly Report Analyst reports on HZN Level 7, 134 William St, The reserve and resource information contained in this Woolloomooloo NSW 2011 announcement is based o