Pharos Energy Plc · LSE:PHAR
Pharos Energy — SOCO International — FY2009 Earnings Presentation
16 slides from Pharos Energy's earnings presentation, March 2010
Slide 1: 2009 Preliminary Results
SUC, NERA TONE LL 2009 Preliminary Results
Slide 2: Preface
PREFACE This presentation, which is confidential and is being supplied in the United Kingdom only to persons with professional experience in matters relating to investments for the purposes of the Financial Services and Markets Act 2000, does not constitute or form part of any offer or invitation to
Slide 3: Overview
Overview Record net profit from continuing operations Strong balance sheet allows us flexibility to meet requirements of potential bond redemption, yet comfortably fund Capex and operating requirements PSDM seismic reprocessing in Vietnam provides encouragement for reserve growth at TGT and positive
Slide 4: 2009 Financial Summary (audited, US$ million)
2009 Financial Summary (audited, US$ million) 2009 2008 Cash, Equivalents & Liquid Invest 307.6 303.4 Net Profit1 51.1 411.1 Operating Cash Flow2 77.0 45.1 Capex3 73.9 217.6 1 Net profit on 2008 disposal=$356.7; $30.6 from continuing operations 2 Production averaged 6,415 BOEPD in 2009 vs. 4,464 BOP
Slide 5: Net Reserve Summary
Net Reserve Summary (mmbbls net working interest as at 31 December 2009) 2009 2008 2P 2P Vietnam 124.2 125.2 Congo 9.2 11.9 Thailand 9.1 7.0 142.5 144.1 Page 5
Slide 6: 2010 Exploration/Appraisal Drilling Programme
2010 Exploration/Appraisal Drilling Programme TGD appraisal well Vietnam 1Q/2Q10 (100 mmbbls) ¾ Add support for massive sand channel play 2/3 Exploration wells Nganzi 3Q10 (600 mmbbls) 3/4 Vietnam Appraisal wells TGT 3Q10 ¾ To confirm PSDM seismic extension of TGT Page 6
Slide 7: SOCO - Areas of Activity
SOCO- Areas of Activity THAILAND VIETNAM CONGO DRCONGO ANGOLA OPERATED NON-OPERATED Page 7
Slide 8: Cuu Long Basin Production, Development and Appraisal Areas
Cuu Long Basin Production, Development and Appraisal Areas Page 8
Slide 9: TGT—2P/3P Reserves Distribution post PSDM reprocessing
TGT—2P/3P Reserves Distribution post PSDM reprocessing 2P Reserves Distribution based on 2006 PSTM 2P Reserves Distribution based on 2009 PSDM Page 9
Slide 10: TGD Fan – Regional Section
TGD Fan – Regional Section SW NE TGB-1X 11 TGD-1X-ST1 TGD-1X-ST1 TGD-1X TGD-1X (2) (3) 01 01 1 TGT-4X 02 TGT-1X TGT-1XTGT-2X 01 02 5236 m 18403 m 6964 m 2004_2D_901, 5429.62 Line: 1300.0 1300.0 1300.0 1300.0 1300.0 1300.0 1300.0 1300.0 1300.0 1300.0 1300.0 1300.0 1300.0 1300.0 Trace: 600.0 800.0 100
Slide 11: TGD 2X Location
TGD 2X Location apes TGD 2X 1310 131013101310 «131013101310 1310T310 «13103101310 1310«1310—««30 «1301310131030 «1301310131030 «31013101310 «13101310 «131013101310 «131013101310 131013101310 13101310 1310 eu 10 e203 408508600 ee0 G80 900910 oan 93040 9s0 9607090980 ol 1020 103010401050 10g0 10701080
Slide 12: North Congo Basin Structural Elements
North Congo Basin Structural Elements Page 12
Slide 13: Nganzi—Est'd Mean Recoverable Resources (mmbbls)
Nganzi—Est’d Mean Recoverable Resources (mmbbls) A 200 B 200 C 65 D 200 Tot 665 Page 13
Slide 14: Nganzi—Dip Line 2008-13
Nganzi—Dip Line 2008-13 Prospect B Prospect A Prospect C 3 1 Kilometer Page 14
Slide 15: Summary
Summary 2009 a record year for profitability from continuing operations 2010 will be the most prolific drilling campaign in terms of potential NET reserve adds with c600+ mmbbls possible Nganzi drilling potential adds NET 500 mmbbl TGD appraisal drilling potentially adds NET 30 mmbbl on the low case
Slide 16: SOCO International plc contact details
SOCO International plc St James’s House 23 King Street London SW1Y 6QY United Kingdom Tel: 020 7747 2000 Fax: 020 7747 2001 Registered No: 3300821 www.socointernational.co.uk Page 16