Horizon Oil Limited · ASX:HZN
Horizon Oil — Investor Presentation (May 2013)
31 slides from Horizon Oil's investor presentation, May 2, 2013
Slide 1: Horizon Oil update on investor presentation (ASX cover letter)
For personal use only 2 May 2013 The Manager, Company Announcements Australian Securities Exchange Limited Exchange Centre 20 Bridge Street Sydney NSW 2000 HORIZON OIL (HZN) UPDATE ON INVESTOR PRESENTATION Please find attached Horizon Oil's latest Investor Presentation. A copy is available on our we
Slide 2: Investor Presentation May 2013
HORIZON OIL LIMITED ABN 51 009 799 455 For personal use only Investor Presentation Mayy 2013 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 Horizon
Slide 3: Horizon Oil Profile
Horizon Oil Profile For personal use only E&P petroleum company with geographic focus on SE Asia/Australasia ASX listed – included in ASX 200 Index Market capitalisation of A$482m at A$0.425 per share on 1 May 2013 (1,135.3m shares) Net production currently 2,500 bopd, generating EBITDA of a
Slide 4: Shareholder Distribution and Trading Statistics
Shareholder Distribution and Trading Statistics SHARE PRICE HISTORY TRADING STATISTICS For personal use only 3
Slide 5: Geographic Focus and Asset Location
Geographic Focus and Asset Location Nothing’s changed changed… For personal use only …focus on productive fairways and mature operating areas in SE Asia / Australasia 4
Slide 6: Investment Proposition
Investment Proposition Focused southeast Asian/Australasian E&P specialist. specialist For personal use only Strong, long-lived cashflows from Maari/Manaia fields, offshore New Zealand, re-invested to fund future capital program. program Low risk, risk new reserves appraisal drilling and mid-lif
Slide 7: Net Reserves, Resources and Exploration Potential
Net Reserves, Resources and Exploration Potential at 1 Aug 2012 For personal use only RESERVES CONTINGENT RESOURCES PROSPECTIVE RESOURCES Proven + Probable Proven + Probable Best Estimate 1 6 bcf gas equals 1 boe; 1 bbl condensate equals 1 boe 2 Net of production of 19.2 mmbo gross through 31 July 2
Slide 8: Net Production Forecast – Reserves + Resources
Net Production Forecast at 1 Aug 2012 – Reserves + Resources For personal use only 7
Slide 9: Maari/Manaia Fields – New Zealand
Maari /Manaia Fields – New Zealand On stream February 2009… For personal use only PMP 38160: HZN 10% OMV 69% (Op) Todd 21% CUE 5% …producing over 21 mmbo and US$1.8 billion in revenue to date 8
Slide 10: Maari/Manaia - Key Points
Maari/Manaia - Key Points W llh d platform Wellhead l tf / FPSO d development l t iin 100 m water t d depth th For personal use only Maari Moki zone developed p with 5 p producer wells and 3 water injectors j – field developed on basis of 60 mmbo recoverable reserves; successful appraisal/develo
Slide 11: Maari Field Development Assets
Maari Field Development Assets For personal use only 10
Slide 12: Maari/Manaia Upside Potential
Maari /Manaia Upside Potential For personal use only Remaining reserves of 88 mmbo in existing producing zones 11
Slide 13: Maari/Manaia Growth Projects
Maari/Manaia Growth Projects For personal use only Unrisked potential of 20-30 mmbo in new zones 12
Slide 14: PEP 51313 – New Zealand
PEP 51313 – New Zealand 2,595 sq km block with 5 year term, logical extension off Maari/Manaia / trend… For personal use only PEP 51313: HZN 21% OMV 30% (Op) ( p) Todd 35% CUE 14% …deep prospect and lead inventory with 163 mmbo potential – well on Whio Q1 2013 13
Slide 15: Beibu Gulf Fields, China – Development Targets
Beibu Gulf Fields, China – Development Targets For personal use only Block 22/12 Post-CNOOC Back-in: HZN 26.95% CNOOC C OOC 51.00% 5 00% (Op) ROC 19.60% Majuko Corp 2.45% 14
Slide 16: Beibu Gulf Fields – Key Points
Beibu Gulf Fields – Key Points For personal use only 2 phase development in 40 – 60 m water depth utilising CNOOC platform facilities, export pipeline and terminal on Weizhou Island Phase 1 platforms WZ 6-12 and WZ 12-8W connected by pipeline to PUQB utility platform; forecast completion cost wi
Slide 17: Beibu Gulf Fields – Phased Development Scheme
Beibu Gulf Fields – Phased Development Scheme For personal use only 16
Slide 18: Beibu Gulf Fields Development Construction Progress
Beibu Gulf Fields Development Construction Progress For personal use only PUQB jacket lift by heavy lift vessel Lanjiang (L) WZ 12-8W platform (R) COSL HYSY 931 jack-up rig drilling over WZ 6 6-12 12 platform (L) PUQB modules being lifted onto platform jacket (R) 17
Slide 19: WZ 12-8E Early Production Concept – Phase II
WZ 12 12--8E Early Production Concept – Phase II 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 o
Slide 20: Papua New Guinea
Papua New Guinea Q lit companies Quality i continue ti to t enter t jurisdiction… j i di ti For personal use only …several large projects gaining traction 19
Slide 21: PNG Exploration and Development Program - Key Points
PNG Exploration and Development Program - Key Points Commanding 7,900 sq km acreage position in liquids-rich “sweet C “ spot” off foreland f area with For personal use only certified condensate and gas resources of 125 mmboe net St l (PRL 4) and Stanley d El Elevala/Ketu l /K t (PRL 21) fifields
Slide 22: Horizon Oil Acreage and Joint Venture Partners
Horizon Oil Acreage and Joint Venture Partners ~7,900 sq km For personal use only PRL 4: HZN 50% (Op) Talisman 40% Mitsubishi 10% PRL 21: HZN 45% (Op) Talisman 32.5% Kina 15% Mitsubishi 7.5% PPL 259: HZN 25% Eaglewood 65% P3GE 10% PPL 430: HZN 50% (Op) Eaglewood 50% PPLs 372 and 373: HZN 90% (Op) 21
Slide 23: Stanley Project Concept
Stanley Project Concept Facilities For personal use only 2 train, 140 mmscfd gas refrigeration plant Mercury Merc r removal remo al via ia adsorption catalyst catal st beds Gas sales at plant fence, addition gas recycled to enhance liquids recovery 6 inch, 40 km pipeline to transport liquids
Slide 24: Stanley Production Facility Site
Stanley Production Facility Site For personal use only 23
Slide 25: Kiunga Base and Condensate Loadout Facility
Kiunga Base and Condensate Loadout Facility For personal use only 24
Slide 26: PRL 21 (Elevala, Ketu and Tingu) – Development Concept
PRL 21 ((Elevala Elevala,, Ketu and Tingu) Tingu) – Development Concept For personal use only 25
Slide 27: Elevala-2 Wellsite and Ketu-2 Well Flow test
Elevala--2 Wellsite and Ketu Elevala Ketu--2 Well Flow test For personal use only 26
Slide 28: PNG Gas Commercialisation Options
PNG Gas Commercialisation Options P Power generation ti – possibly ibl with ith PNG Energy E Developments D l t Ltd For personal use only – Ok Tedi Mining Limited (OTML) – Frieda River project (if sanctioned) – Local towns and communities in Kiunga – OK Menga – Frieda River corridor – Export to We
Slide 29: Daru Port – Proposed Stage
Daru Port – Proposed Stage 1 SDP/Qube joint venture For personal use only Stage 1 involves floating wharf and barge for copper concentrate storage FID for Stage 1 - Q2 2013 Completion for OTML January 2015 or earlier Channel to be dredged to 11 m depth to accommodate Handymax-sized vessels
Slide 30: HZN Share Price … Catalysts for Re-rating
HZN Share Price … Catalysts for Re- Re-rating Timeframe For personal use only Improved production performance from Maari/Manaia fields and progress on Q3 2013 - 2014 appraisal pp drilling g and field upgrade pg Ramp up to peak oil production of Beibu Gulf fields Phase I development Ongoing - Q3
Slide 31: Please visit the Horizon Oil website
Please visit the Horizon Oil website www.horizonoil.com.au to see:- see:- Detailed Investor Presentation Latest Quarterly Report For personal use only Analyst reports on HZN Level 7, 134 William St, Woolloomooloo NSW 2011 The reserve and resource information contained in this Tel: +612 9332 5000 ann