Carnarvon Energy Limited · ASX:CVN
Carnarvon Energy — Carnarvon Petroleum — H1 FY2017 Earnings Presentation
8 slides from Carnarvon Energy's earnings presentation, Feb 27, 2017
Slide 1: Half Year Financial Report
For personal use only Presentation covering Half Year Financial Report For the half year ended 31 December 2016
Slide 2: Disclaimer
Disclaimer For personal use only There are numerous uncertainties inherent in estimating reserves and resources, and in projecting future production, development expenditures, operating expenses and cash flows. Oil and gas reserve engineering and resource assessment must be recognised as a subjectiv
Slide 3: Income Statement
Income Statement For personal use only Reported Loss for Period ($32.0m) Included in the above were impairments for: Outtrim East-1 Well ($10.2m) Loyz Deferred Consideration ($22.2m) Underlying loss ($0.4m) Carnarvon’s half year loss of approximately $32m incorporated the impairment of the Outtrim E
Slide 4: Outtrim East
Outtrim East For personal use only • The Outtrim East-1 well made an oil discovery in 2016. • While technical work has not yet been completed, Carnarvon believes the Outtrim East value proposition is likely to be lower than that in Carnarvon’s Phoenix / Roc acreage where the Company’s technical and
Slide 5: Deferred Consideration
Deferred Consideration For personal use only • In 2014 Carnarvon divested a portion of its interest in permits in Thailand containing oil production. • The consideration for the sale included US$33 million and a deferred consideration of up to US$32 million which was to be paid by the purchaser (nam
Slide 6: Exploration and Evaluation Expenditure
Exploration and Evaluation Expenditure For personal use only • The success in the Roc and Phoenix permits strongly supports further exploration and appraisal activities, and their associated expenditure. • The permits currently represent the Company’s primary area of focus for value generation. • Th
Slide 7: Financial position
Financial position For personal use only Cash $60.0m Receivables $2.6m Payables ($1.4m) Other ($0.2m) Carnarvon maintains a prudent balance sheet with $60 million in cash and no debt. Receivables of $2.6 million pertain to joint venture balances owing by the operator of the Phoenix / Roc permits ass
Slide 8: Think Different, Act Different
For personal use only Think Different Act Different 8
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