Etablissements Maurel & Prom Sa · EURONEXT:MAU
Etablissements Maurel & Prom Sa — Maurel & Prom — Shareholder Meeting (June 2014)
22 slides from Etablissements Maurel & Prom Sa's shareholder meeting presentation, Jun 19, 2014
Slide 1: Annual General Meeting
A world of opportunities Annual General Meeting 19 June 2014
Slide 2: Profile
A world of opportunities • STORY • LOCAL PRESENCE PROFILE • ORGANIZATION 2
Slide 3: Story
STORY Listing of MP Offer to acquire Seplat operator of Nigeria OMLs 4, 38 and 41 the OMLs in Paris Creation of Seplat 15 October 29 January 12 December 15 December April 2010 August 2010 2009 2010 2011 2011 MP Nigeria, wholly owned Production restart Spin-off of by Maurel & Prom MP Nigeria Creation
Slide 4: Local presence
LOCAL PRESENCE HEADOFFICES 14% Anticosti 6,196 km² 12% Deep Well O&G 14% 12% 4
Slide 5: Organization
ORGANIZATION MPI as of 19 June 2014 40% 21.76% 66.7% CARDINAL SEPLAT Saint-Aubin Energie (drilling) Saint-Aubin NEWTON MP EAST ASIA E&P MP QUEBEC MP WEST CANADA (Québec) 45% 40% 40% 21.7% 50% 25% 20% OML 56 Ile 13 12 Deep OML 4,38 (Igbuku & Bloc M2 Anticosti licenses licenses Well Oil and 41 Umuseti
Slide 6: Results
A world of opportunities • KEY FIGURES • NET INCOME RESULTS • CASH • DIVIDEND 6
Slide 7: Key Figures
Key Figures In M€ 31/12/2013 31/12/2012 31/12/2011 Operating income 29 (2) (2) Financial income 4 5 10 Equity-accounted 165 48 12 companies Net income 196 51 18 Cash at 226 106 178 31/12/2013 Debt - - - Dividend : 0,24€ per share Record date : 24 June 2014 Payment date : 27 June 2014 7
Slide 8: Balance sheet as of 31/12/2013
Balance sheet as of 31/12/2013 Total: €468m 38 Avances à Saint-Aubin Saint-Aubin Energie Energie 170 Titres SEPLAT SEPLAT Avance actionnaire Shareholder loan to SPELAT (reimbursed in April 14) 35 461 Trésorerie Cash Shareholders Capitaux equity propres Others Autres 226 7 8
Slide 9: Seplat
A world of opportunities • ASSETS • OBJECTIVES SEPLAT • STRATEGY 9
Slide 10: Nigeria: Seplat
NIGERIA: SEPLAT SEPLAT today Significant reserves (P1+P2 SEPLAT share) SEPLAT Oil: 111 million barrels Gas: 663 bcf Additional resources (C1+C2 SEPLAT share) Oil: 61 millions de barrels Gas: 105 bcf Continuing increase production (OML 4, 38 and 41, at 100%) Oil Average production in 2013: 51,400 bop
Slide 11: Seplat: production
SEPLAT: production 70 000 Production from OMLs 4, 38 and 41 bopd 100% in bopd SEPLAT 60 000 50 000 40 000 30 000 20 000 10 000 0 11
Slide 12: Seplat in 2014
SEPLAT in 2014 Oil production target: 73 000 bopd by year end Gas production target: 250-300 mmscfpd by year end SEPLAT Seplat's new pipeline to the Warri refinery completed, creating an alternative liquids export route Externat growth strategy: Acquisition in June 13 of a 40% participating intere
Slide 13: Seplat: success of the dual listing
SEPLAT: success of the dual listing In Lagos : to maintain the status of indigenous society SEPLAT In London : the specialised place for oil industry (14 April) A capital increase around US$535m Shareholder loan repaid by Seplat: $48m Number of outstanding shares: 553,310,313. Market capitaliz
Slide 14: Saint-Aubin Energie
A world of opportunities • ASSETS SAINT-AUBIN • OBJECTIVES ENERGIE • STRATEGY 14
Slide 15: Saint-Aubin Energie
SAINT-AUBIN ENERGIE Saint- Aubin Energie Maurel & Prom MPI To allow MPI and M&P to have access 1/3 2/3 to new opportunities Saint-Aubin Energie For MPI, to have access to: • M&P track record • M&P technical teams For Maurel & Prom to have access to: Canada Myanmar • A leverage thanks to MPI st
Slide 16: Canada: Alberta
CANADA Alberta ALBERTA Acquisition of 20% stake in Deep Well Oil & Gas, a company listed in Toronto Farm-in for 50% of the shares held by Deep Well Oil & Gas in 12 blocks of the Peace River Oil Sands in Alberta (25% working interest for Saint-Aubin Energie) Option on 56 blocks where Deep Well Oil &
Slide 17: Canada: Québec
CANADA Québec GASPESIE Saint-Aubin Energie’s farm-in in 13 researsh licenses in Gaspé Peninsula Area: 1,892 km2 Beginning of the drillings of the stratigraphic wells Objectives: unconventional reservoirs and conventional oil deposits Strategic partnership with Ressources Québec on Anticosti Island (
Slide 18: Myanmar: Block M2
MYANMAR BLOC M2 MP EAST ASIA owns 40 % of M2 block MP East Asia is a wholly-owned subsidiary of Saint-Aubin Energie Total area of 9,652 km² Located in the western Gulf of Martaban, close to A7, M3 and M5 blocks where gas was identified Partners: Petrovietnam 45% (operator) and Eden Group 15% 18
Slide 19: Strategy
STRATEGY •Support to SEPLAT’s development Mid term •Pursue exploration in Myanmar •SAGD pilot in Canada (Alberta), first production •Become an international expected in August 2014 player in energy and natural resources •First stratigraphic wells in Anticosti (Québec) •Strengthening the asset base -
Slide 20: Stock
A world of opportunities • STOCK PRICE STOCK • CONTACT 20
Slide 21: Stock price
STOCK PRICE Code ISIN : FR0011120914 - MPI NYSE EURONEXT PARIS 6,00 4 500 000 € 4 000 000 5,00 3 500 000 4,00 3 000 000 2 500 000 3,00 2 000 000 2,00 1 500 000 1 000 000 1,00 500 000 - 15/01/2013 - 15/12/2011 15/01/2012 15/02/2012 15/03/2012 15/04/2012 15/05/2012 15/06/2012 15/07/2012 15/08/2012 15/
Slide 22: Contact
CONTACT 51 rue d’Anjou 75008 Paris FRANCE +33 (0)1 53 83 55 44 www.mpienergy.com ir@mpienergy.com 22