Horizon Oil Limited · ASX:HZN
Horizon Oil — Excellence in Oil and Gas Conference 2008
35 slides from Horizon Oil's conference presentation, May 27, 2008
Slide 1: ASX cover letter for conference presentation
27 May 2008 For personal use only The Manager, Company Announcements Australian Stock Exchange Limited Exchange Centre 20 Bridge Street Sydney NSW 2000 HORIZON OIL (HZN) PRESENTATION AT EXCELLENCE IN OIL AND GAS CONFERENCE 27 MAY 2008 Please find attached presentation by Chief Executive Officer, Mr
Slide 2: Excellence in Oil and Gas Conference
HORIZON OIL LIMITED For personal use only ABN 51 009 799 455 Excellence in Oil and Gas Conference May 2008 Brent Emmett - CEO This presentation contains some references to forward looking assumptions, representations, estimates and outcomes. These are uncertain by the nature of the business and no a
Slide 3: Presentation Outline
Presentation Outline What we set out to do … and why For personal use only Overview of Horizon Oil Reserves and production forecast Key development assets • Maari field, New Zealand • Block 22/12, offshore China • Stanley field, Papua New Guinea Exploration and new business program • Thailand • New
Slide 4: What we set out to do...
What we set out to do... For personal use only Build a specialist Asian E&P company of +/- US$500 million value, that will be highly valued by the market and potential acquirors Asset portfolio attributes: balanced (E vs D), concentrated, material interests, focus on quality Investor Presentation Ma
Slide 5: Why Focus on Asia?
Why Focus on Asia? For personal use only Strong demand for oil and pipeline gas Japan China Uncomplicated geological targets in productive fairways Taiwan Straightforward drilling Myanmar Laos and development parameters Thailand Vietnam Cambodia Philippines Mature operating environment Malaysia Good
Slide 6: World Oil Demand Growth by Region 2007 – 2012
World Oil Demand Growth by Region 2007 – 2012 For personal use only 5 4.5 4 3.5 3 Million b/d India 2.5 2 China 1.5 1 0.5 US 0 Asia Pacific North America Middle East Latin America Africa Europe FSU Source: Wood Mackenzie Investor Presentation May 2008
Slide 7: Location Of Assets
Location Of Assets For personal use only Investor Presentation May 2008
Slide 8: Asset Summary
Asset Summary Development For personal use only PMP 38160 / PEP 38413, offshore New Zealand: 10% Maari field development installation near complete – first production Q3 2008 Block 22/12, offshore China: 30% 14.7% FEED underway on Wei 6-12 and Wei 12-8 fields – first production early 2010 Appraisal
Slide 9: Horizon Oil Statistics
Horizon Oil Statistics This month Last $0.435 High $0.480 For personal use only Low $0.305 Volume 40,704,388 12 Months Last $0.435 High $0.480 Low $0.210 Volume 183.3 million Fully paid shares 796.51 million Partly paid shares 2.5 million Employee options 31.8 million No. of shareholders 4,065 Marke
Slide 10: The Horizon Oil Team
The Horizon Oil Team For personal use only NON-EXECUTIVE DIRECTORS RESPONSIBILITIES EXPERIENCE Fraser Ainsworth AM Chairman of Board, Chairman of 27 years in CSR’s resource & energy business, former MD of B.COMM, FAICD, FCPA Remuneration, Nomination and Delhi, former MD of SAGASCO, Founder & Executi
Slide 11: Reserves, Resources and Exploration Potential
Reserves, Resources and Exploration Potential Net recoverable in millions of barrels of oil equivalent For personal use only Investor Presentation May 2008
Slide 12: Net Production Forecast
Net Production Forecast Maari on production in 2008… For personal use only 12000 10000 8000 BOPD 6000 4000 2000 0 2007 2008 2009 2010 2011 2012 2013 2014 2015 M aari M aari O the r Z o ne s 2 2 /1 2 W e i 6 -1 2 S 2 2 /1 2 W e i 1 2 -8 W 2 2 /1 2 O the r D is c o ve rie s N e w B us ine s s …generat
Slide 13: Activity Schedule
Activity Schedule For personal use only Investor Presentation May 2008
Slide 14: Maari Development – New Zealand
Maari Development – New Zealand Installation near complete of a 50+ mmbo oilfield… For personal use only …with 40 mmbo upside potential Investor Presentation May 2008
Slide 15: Maari Development Summary
Maari Development Summary Overall development concept:– 5 production / 3 injection horizontal wells with wellhead platform / FPSO production facilities For personal use only FID capex budget US$365 million (including contingency). Current forecast cost to completion US$508 million US$46 million fina
Slide 16: FPSO - Raroa
FPSO - Raroa JU - MODU.- Ensco 107 cue CA3)--) ‘Cue Taranaki Pty Ltd odd Energy}
Slide 17: Maari Installation Progress
Maari Installation Progress For personal use only FPSO Raroa steaming into Wellington harbour, New Zealand, to undergo regulatory clearance Maari wellhead platform on location, in the process of jacking up the deck Raroa buoy going overboard the Toisa Porteus with anchors attached Investor Presentat
Slide 18: Maari Upside Potential
Maari Upside Potential For personal use only Prospect Unrisked Prospect Mean Recoverable Potential Range (Gross) Reserves Potential OOIP (Gross) mmbo mmbo Maari M2A 20 – 30 12 Manaia Updip 35 – 140 25 Investor Presentation May 2008
Slide 19: China 22/12 – Discoveries & Prospects
China 22/12 – Discoveries & Prospects 60+ mmbo recoverable reserves and resources discovered... For personal use only …development planning underway Investor Presentation May 2008
Slide 20: Wei 6-12 South Discovery
Wei 6-12 South Discovery Gross pay interval of 500 m in numerous reservoir sands with collectively 100 m of net pay (predominantly oil-bearing) For personal use only Reservoir sands generally good quality, up to 25 m thick; DSTs over 3 main pay zones flowed at combined rate of 5,750 bopd Second side
Slide 21: Block 22/12 Development Planning
Block 22/12 Development Planning Stand-alone phased development concept For personal use only Wellhead platform and FPSO with 20,000 – 25,000 bopd capacity at Wei 6-12S location Unmanned minimal structures at Wei 12-8W and Wei 12-8E hub facility FEED underway, FID mid 2008, construction 2008/09, on
Slide 22: Phase Wei 6-12 WHP and FPSO
Phase 1 Wei 6-12 WHP and FPSO For personal use only Investor Presentation May 2008
Slide 23: Phase Wei 6-12 WHP and FPSO and Wei 12-8W WHP tie-back
Phase 2 Wei 6-12 WHP and FPSO and Wei 12-8W WHP tie-back For personal use only Investor Presentation May 2008
Slide 24: Phase Wei 12-8E and Wei 12-2 WHP tie-back to Wei 6-12
Phase 3 Wei 12-8E and Wei 12-2 WHP tie-back to Wei 6-12 For personal use only Investor Presentation May 2008
Slide 25: Papua New Guinea
Papua New Guinea Gross 2P recoverable resources of 930 bcf gas and 38 mmb condensate… For personal use only …development options emerging Investor Presentation May 2008
Slide 26: Stanley-1 Wellsite
Stanley-1 Wellsite For personal use only Stanley Well Head Investor Presentation May 2008
Slide 27: Stanley – Surrounding Terrain
Stanley – Surrounding Terrain For personal use only Investor Presentation May 2008
Slide 28: New Business Focus Area – Exploration
New Business Focus Area – Exploration For personal use only Investor Presentation May 2008
Slide 29: South East Asia Gas Demand
South East Asia Gas Demand 7000 For personal use only 6000 5000 4000 mmcfd 3000 2000 1000 0 T h a ila n d Java M a la y s ia V ie tn a m S in g a p o r e S u m a tr a 2005 2020 S o u r c e : W o o d M a c k e n zie E n e r g y M a r k e t S e r v ic e a n d S E A G A S Thai Average Gas Prices (Per P
Slide 30: Gulf of Thailand – Acreage Position
Gulf of Thailand – Acreage Position For personal use only Investor Presentation May 2008
Slide 31: Gulf of Thailand Prospects and Leads Inventory
Gulf of Thailand Prospects and Leads Inventory For personal use only Block Area HZN Unrisked recoverable oil Unrisked recoverable interest potential gas potential (sq km) (%) Gross Net Gross Net (mmbo) (mmbo) (bcf) (bcf) G1/48 17,610 20 70 14 G3/48 11,800 20 40 8 G6/48 2,280 20 105 21 G10/48 18,780
Slide 32: G10/48 and G11/48 Prospects and Leads
G10/48 and G11/48 Prospects and Leads Oil Discovery Gas Fields / Discoveries For personal use only Gas Discovery Gas pipeline Oil Lead Proposed Gas pipeline Gas Lead ~3 tcf Ubon Pattani Trough Malay Basin Sontaya-1 Mayura-1 Bussabong 5X 16-C 1 ~4 tcf Boondarik-1 Bua Luang-1 G10/48 18-C 1A THAILAND G
Slide 33: Investment Highlights
Investment Highlights For personal use only Strong reserves and resources position 14 – 16 mmbo 2P reserves (all oil) and resources of 17 mmbo + 357 bcf gas Re-rating expected as Maari nears first production US$10 million per month net cash flow to Horizon Oil before interest and tax at US$100 per b
Slide 34: Activity Schedule
Activity Schedule For personal use only Investor Presentation May 2008
Slide 35: For personal use only
Please visit the Horizon Oil website www.horizonoil.com.au to see:- Detailed Investor Presentation For personal use only Latest Quarterly Report Analyst reports on HZN Level 7, 134 William St, Woolloomooloo NSW 2011 Tel: +612 9332 5000 Fax: +612 9335 5050 exploration@horizonoil.com.au
Horizon Oil — Excellence in Oil and Gas Conference 2008 on 6ix