Slide 1: FY12 Full Year Results
For personal use only FY12 Full Year Results Investor roadshow - March 2012 FY12 Full Year Results Beach Energy Limited Slide 1
Slide 2: Compliance statements and Disclaimer
Compliance statements Disclaimer For personal use only • This presentation contains forward looking statements that are subject to risk factors associated with oil, gas, geothermal and related businesses. It is believed that the expectations reflected in these statements are reasonable but they may
Slide 3: FY12 Highlights
For personal use only FY12 Highlights Reg Nelson, Managing Director FY12 Full Year Results Slide 3
Slide 4: FY12 Highlights
FY12 Highlights Financial For personal use only • Record sales revenue of $619 million, up 25% • NPAT of $164 million, up $262 million • Underlying NPAT of $122 million, up 190% • $345 million capital raising Corporate • Renegotiation of Exxon Mobil royalty • On-market takeover of Adelaide Energy Op
Slide 5: Financial results
For personal use only Financial results Kathryn Presser, Chief Financial Officer FY12 Full Year Results Slide 5
Slide 6: FY12 Full Year results overview
FY12 Full Year results overview FY12 FY11 Change For personal use only Production (MMboe) 7.5 6.6 14% Sales volume (MMboe) 9.0 8.8 3% Sales revenue ($ million) 618.6 496.4 25% Cash flow from operations ($ million) 218.2 184.5 18% Net profit /(loss) after tax ($ million) 164.2 (97.5) n/a Underlying n
Slide 7: Sales revenue up 25%
Sales revenue up 25% Sales Revenue Comparison For personal use only 700 $26.3 $2.2 $16.9 $618.6 $39.9 600 $70.7 Gas/ethane Prices FX Rates Third Party Purchases $496.4 Volume / Mix A$/GJ A$/US$ 500 FY11 FY11 Oil Price $5.35 $0.99 400 US$/boe FY12 FY12 $ million FY11 $95 $5.42 $1.03 FY12 $119 300 200
Slide 8: Cash production costs down 5%
Cash production costs down 5% Cash production costs comparison For personal use only 250 $21.6 $2.7 $28.9 $215.6 Field operating Tariffs / tolls costs $205.6 200 Royalties 150 $ million 100 $10.0 million 50 total decrease 0 June 11 June 12 Lower cash production costs, mainly due to: • Lower royaltie
Slide 9: Reconciliation to Underlying NPAT
Reconciliation to Underlying NPAT FY12 FY11 For personal use only $’000 $’000 Net profit (loss) after tax 164,225 (97,450) Adjusted for: Unrealised hedging (gains) / losses (3,184) (1,583) Revaluation of assets - (13,568) Asset sales (11,527) (10,748) Impairment of assets 18,111 157,940 Legal settle
Slide 10: Underlying net profit after tax up 190%
Underlying net profit after tax up 190% Underlying net profit after tax comparison For personal use only 180 $120.1 $4.1 $9.4 160 $26.6 Other expenses 140 and revenue Net financing costs $122.1 120 Tax 100 $ million 80 60 $42.1 40 Gross profit 20 $80.0 million 0 total June 11 increase June 12 Underl
Slide 11: Operational results
For personal use only Operational results Neil Gibbins, Chief Operating Officer FY12 Full Year Results Slide 11
Slide 12: FY12 Operational highlights
FY12 Operational highlights • Production of 7.5 MMboe, up 14% on the prior year For personal use only • Participation in 89 wells, up 128%, with a success rate of 79% • Holdfast-1 and Encounter-1 (Beach 100%) unconventional exploration wells both flow tested at around 2 MMscfd • Moonta-1 (Beach 100%
Slide 13: Production
Production • FY12 production of 7.5 MMboe up by Actual and forecast production For personal use only 14% on prior year, mainly due to: 9.0 MMboe – Better operational access following Cooper Basin floods – Successful Western Flank 8.5 MMboe development drilling with quick tie-ins 7.5 MMboe – Increase
Slide 14: 2P reserves
2P reserves • Conventional reserves and resource For personal use only 2P Reserves – 93 MMboe* approach validated by RISC • Reserves growth continues the recent historic trend 92.8 MMboe • Reserves growth drivers: – SACB JV infill drilling program 77.4 MMboe – Western Flank exploration and appraisal
Slide 15: 1C, 2C and 3C contingent resources
1C, 2C and 3C contingent resources • Unconventional resource independently 2C Contingent resource – 466 MMboe* For personal use only assessed by DeGolyer and McNaughton • Beach has adopted new SPE Petroleum Reserves Management System guidelines for booking unconventional resource volumes • New appro
Slide 16: FY13 Capital expenditure guidance
FY13 Capital expenditure guidance Forecast FY13 For personal use only FY13 FY13 reserves Forecast Forecast Forecast Seismic additions Capex ($M) Wells 2D - km 3D – km2 MMbbl DEVELOPMENT Cooper Basin – non-SACB JV 50 – 60 15-20 – – – Cooper Basin – SACB JV and SWQ JV 100 – 130 35-45 – – 10.0 Internat
Slide 17: Key FY13 operational activities
Key FY13 operational activities For personal use only FY12 Full Year Results Slide 17
Slide 18: Contact Information
Contact Information Head office For personal use only 25 Conyngham Street Glenside SA 5065 Tel: +61 8 8338 2833 Fax: +61 8 8338 2336 Website: www.beachenergy.com.au Chris Jamieson General Manager Investor Relations Tel: +61 8 8338 2833 Mob: +61 8 (0)487 173 244 Email: chris.jamieson@beachenergy.com.