Tullow Oil Plc · LSE:TLW
Tullow Oil — H1 2020 Earnings Presentation
10 slides from Tullow Oil's earnings presentation, 2020
Slide 1: • • •
• • •
Slide 2: Where we operate
TULLOW Ic Where we operate Ot Pl Africa Comoros E Ghana EDP UK 4 Cote d'lvoire ED P Kenya ED Equatorial Guinea D P Namibia E Gabon EDP Uganda D Ghana Suyana Céte d'ivoire we te Suriname Equatorial Guinea—— Were Argentina E Peru E @ Gabon Kenya South America Guyana E Suriname E Peru Comoros Namibia 9
Slide 3: Summary of 2020 Half Year Results
TULLOW Summary of 2020 Half Year Results ot 1H 2020 1H 2019 Sales revenue ($m) 731 872 Gross profit ($m) 164 527 Operating (loss)/profit ($m) (1,306) 388 (Loss)/profit before tax ($m) (1,436) 268 (Loss)/profit after tax ($m) (1,327) 103 Basic (loss)/earnings per share (cents) (94.2) 7A Free cash flo
Slide 4: Working Interest Production
| Working Interest Production ot 1H 2020 Actual FY 2020 Forecast Oil production (kbopd) (kbopd) GHANA Jubilee 30.0 29.7 TEN 24.0 23.3 Total Ghana 54.0 53.0 Ceiba 1.8 1.7 Okume 3.2 3.0 Total Equatorial Guinea 5.0 47 Tchatamba 3.4 3.3 Rest of Gabon 13.4 11.9 Total Gabon 16.8 15.2 Espoir 1.9 21 Total C
Slide 5: Capital Expenditure (Capex)
TULLOW Capital Expenditure (Capex) Ot 1H 2020 CAPEX — Actuals ($m) Exploration & Appraisal Development 1H 2020 Total Ghana - 79 719 Non-Op - 33 33 Uganda - 7 7 Kenya - 15 15 Exploration FY 2020 CAPEX — Forecast ($m) Exploration & Appraisal Development FY 2020 Total Ghana - 120 120 Non-Op - 60 60 Uga
Slide 6: Costs, Depreciation and Tax
TULLOW a Costs, Depreciation and Tax Ot Operating Data OPERATING COSTS ! y ‘bo tebe Equatorial Guinea 15.4 17 Cote d'lvoire 21.5 20 Gabon 2 16.4 18 Ghana ? 9.0 9 DEPRECIATION ' oo. ae Equatorial Guinea 9.2 8 Céte d'ivoire 14.9 16 Gabon 6.7 7 Ghana 23.6 22 Other Information TAX AND NUMBER OF SHARES 2
Slide 7: Liquidity and Hedging
TULLOW a Liquidity and Hedging it Liquidity Position $m 30 Jun 2020 Cash and cash equivalents 236 Debt drawings RBL Facility ($1,914m) ! 1,505 Senior Notes ($1,450m) 1,450 Convertible Bond ($300m) 300 Total debt 3,255 Net debt 3,019 Facility headroom plus free cash 546 1 Reserves Based Lending facil
Slide 8: 1H 2020 Reserves and Resources Summary
TULLOW a 1H 2020 Reserves and Resources Summary Ot GHANA NON-OP KENYA EXPLORATION TOTAL Oil Gas Oil Gas Oil Gas Oil Gas Oil Gas Petroleum mmbbl bef mmbbl bef mmbbl bef mmbbl Bcf mmbbl bef mmboe COMMERCIAL RESERVES 1 January 2020 170.3 136.6 48.3 10.1 - - - - 218.6 146.7 243.0 Revisions 8.6 0.6 69 -
Slide 9: Net Daily Entitlement as % Production
TULLOW Net Daily Entitlement as % Production it West Africa Production Contract Type 2020 ($40/bbl) 2020 ($50/bbU) COTE D'IVOIRE Espoir PSC 99 99 EQUATORIAL GUINEA Ceiba PSC 84 82 Okume Complex PSC 79 78 GABON Echira Corp Tax 100 100 Etame PSC 0 0 Limande Corp Tax 100 100 Niungo Corp Tax 100 100 Oba
Slide 10: Tullow Oil plc contact details
Tullow Oil plc 9 Chiswick Park, 566 Chiswick High Road London W4 5XT United Kingdom Tel: +44 (0)20 3249 9000 Fax: +44 (0)20 3249 8801 Email: ir@tullowoil.com Web: www.tullowoil.com