Genel Energy Plc · LSE:GENL
Genel Energy — Pareto Securities E&P Conference 2016
11 slides from Genel Energy's conference presentation, Mar 31, 2016
Slide 1: Pareto Securities' E&P Conference
Pareto Securities’ E&P Conference 31 March 2016 ™
Slide 2: Disclaimer
These materials are being supplied to you by Genel Energy plc (the “Company”) solely for your information and for use at this presentation (the “Presentation”). For purposes of this notice, “Presentation” shall mean and include the document that follows, the oral briefing by the Company that accompa
Slide 3: KRI export volumes and contractor export payments
800,000 750,000 Contractor export payments(1) 700,000 $75m $75m $75m $75m $56m $36m 650,000 600,000 KRI export pipeline shut in 550,000 between 17 February and 10 500,000 March 2016 450,000 bopd 400,000 350,000 300,000 250,000 200,000 150,000 100,000 50,000 0 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-1
Slide 4: Export payment mechanism and 2016 cash proceeds from MNR
Export payment mechanism announced by Ministry of Natural Resources on 1 February 2016 Monthly payment to Contractor calculated as a proportion of monthly field revenue as a proxy for entitlement MNR aims to process monthly payments within 10 working days of the following month Field revenue
Slide 5: Net 1P and 2P reserves evolution
Net 1P reserves evolution (mmbbls) – pre and post FY15 updates(1) Net 2P reserves evolution (mmbbls) – pre and post FY15 updates(1) 160 400 140 350 120 300 100 250 80 200 60 150 40 100 20 50 - - Pre FY15 reserve updates Post FY15 reserve updates Pre FY15 reserve updates Post FY15 reserve updates Taq
Slide 6: KRI portfolio activity
Taq Taq 2016 Development of Reservoir Qamchuqa Activity RIG Jan Feb March April May June July Aug Sep Oct Nov Dec activity plan Fracture Systems Management Workover Pilaspi test & production P O O Rigless Workover TT-07 P O O Rig-1 Firm Sidetrack-1 P P O Rig-1 Budget Sidetrack-2 P O P Rig-1 Workover
Slide 7: Upstream and midstream term sheets; Bina Bawi acquisition
Upstream and midstream term sheets signed Revised terms enhance original agreements and deliver alignment along the value chain Term sheets to be converted into binding documentation during Q2 2016 Acquired OMV’s stake in Bina Bawi Upfront payment of $5 million, contingent payments of $145
Slide 8: Chia Surkh-12 and Peshkabir-2 wells
Chia Surkh-10 and Chia Surkh-11 (2013) Peshkabir-1 (2012) CS-10 and CS-11 encountered light oil and gas in Jeribe/Euphrates Drilled on flank of structure, based on sparse 2D data, 27-29 API oil Oligo-Miocene with flow rates between 7-12,000 bopd and 15-46 from Jurassic on test mmcfd of gas
Slide 9: 2016 revenue guidance and uses of cash scenarios
2016 revenue guidance ($m) 2016 uses of cash scenarios ($m)(1) 300 $200-275m Interest Opex Capex - TT & Tawke G&A Capex - Miran & BB Capex - other 250 $160-220m 200 150 100 50 0 @ $35/bbl Brent @ $45/bbl Brent Low production/spend High production/low Low production/high High production/spend spend s
Slide 10: Bond buy-back and covenant headroom
Bond buy-back successfully implemented in March 2016 $55.4 million of nominal value repurchased at 63% plus accrued interest Provides liquidity and allows orderly exit for distressed sellers Bonds now quoted at 63(1) compared with pre buy-back price of 52 Pro-forma end-2015 net debt of $22
Slide 11: Genel Energy plc
Genel Energy plc www.genelenergy.com +44 20 7659 5100 stor.relations@genelenergy.com __