Horizon Oil Limited · ASX:HZN
Horizon Oil — H1 FY2014 Earnings Presentation
10 slides from Horizon Oil's earnings presentation, Feb 28, 2014
Slide 1: Half Year FY2014 Financial Results
HORIZON OIL LIMITED ABN 51 009 799 455 For personal use only Half Year FY2014 Financial Results 28 February 2014
Slide 2: Half Year Highlights
Half Year Highlights Reserves and contingent resources expected to materially increase following successful Tingu-1 Reserves For personal use only drilling results 411% increase in 6 months production from comparable period last year, following successful ramp up in production in the Beibu Gulf Comb
Slide 3: Operational Results
Operational Results TRIFR < 3 (Total recordable injury frequency rate) versus the APPEA five-year average of 5.4 For personal use only HSE No significant loss of containment incidents (>1 barrel of oil equivalent) Development of WZ 12-8W field completed and on stream in August 2013; combined with WZ
Slide 4: Profit and Loss
Profit and Loss 6 Months to 6 Months to Change Change For personal use only Dec 2013 Dec 2012 (US$ million) (US$ million) (US$ million) (%) Production 672,144 bbls 163,413 bbls 508,731 bbls 311 • Significant increase in sales revenue Sales 642,606 bbls 171,717 bbls 470,889 bbls 274 and results drive
Slide 5: Profit and Loss analysis
Profit and Loss analysis 70.0 For personal use only 60.0 50.0 40.0 US$m 64.8 30.0 20.0 32.9 10.0 10.4 0.0 (0.0) -10.0 Revenue Operating Speical Oil Maari Repairs Corporate & Unrealised loss EBITDAX Depreciation, EBIT Finance Costs Tax expense Loss after Tax Costs Gain Levy & Transaction on revaluati
Slide 6: Cash Flow
Cash Flow 6 Months to 6 Months to Change Change For personal use only Dec 2013 Dec 2012 (US$ million) (US$ million) (US$ million) (%) Opening Cash 19.0 19.3 (0.3) 2 Net Cash from Operating Activities • Significant increase in 29.6 9.7 19.9 205 (excl G&A) net cash from General & Administrative operat
Slide 7: Cash Flow Analysis
Cash Flow Analysis For personal use only 100.0 90.0 80.0 70.0 60.0 US$m 50.0 40.0 30.0 20.0 37.1 10.0 19.0 0.0 Opening cash at 30 Net Cash f rom General & Net proceeds f rom Development Exploration Expenditure Cash at 31 December June 2013 Operating Activities Administrative share issues Expenditure
Slide 8: Outlook for 2014
Outlook for 2014 Corporate For personal use only Completion of sale of 40% of PNG assets to Osaka Gas Co Ltd Significant increase in production and revenue growth driven by the Group’s China operations and Maari development program Maari/Manaia and PEP 51313, offshore New Zealand Commencement
Slide 9: Calendar Year Activity
Next 12 Month’s Calendar Year Activity For personal use only Exploration activities Q1 2014 Q2 2014 Q3 2014 Q4 2014 Development activities NEW ZEALAND Manaia-2 process and Maari analyse results Maari growth projects Whio-1 exploration Process and analyse results of drilling PEP 51313 drilling WZ 12-
Slide 10: Financial Year Results Presentation Information
Financial Year Results Presentation Information For personal use only For further information: Michael Sheridan Chief Financial Officer/Company Secretary +61 2 9332 5000 exploration@horizonoil.com.au www.horizonoil.com.au The information in this presentation is an overview and does not contain all i