Horizon Oil Limited · ASX:HZN
Horizon Oil — RIU Good Oil & Gas Energy Conference 2021
14 slides from Horizon Oil's conference presentation, Sep 8, 2021
Slide 1: RIU Good Oil & Gas Energy Conference 2021
LINPI7OK RIU GOOD OIL & GAS ENERGY CONFERENCE 8 SEPTEMBER 2021
Slide 2: Horizon — Who We Are
HORIZON —- WHO WE ARE LOW COST OIL PRODUCER WITH ASSETS IN CHINA AND NZ * Highly leveraged to the oil price + Non- Operator / Sydney based + Net Production ~3,750 bopd + US$63.6 million revenue FY2021 * Currently US$13 million debt / US$14 million cash ° EV/EBITDAX ratio 2.5x * Significant capital m
Slide 3: FY21 Look-Back
FY21 LOOK-BACK RESILIENT CASHFLOW DESPITE COVID WHICH ADVERSELY AFFECTED OPERATIONS AND OIL PRICES * Cashflow positive during low oil prices - cashflow from operating activities of US$23.2 million * Strengthened balance sheet -net cash of US$31.7 million at 30 June 2021, an increase of US$31.2 milli
Slide 4: FY21 Look-Back: Positive Free Cashflow & Increased Net Cash Position
FY21 LOOK-BACK: POSITIVE FREE CASHFLOW & INCREASED NET CASH POSITION FREE CASH FLOW (US$m] NET CASH [NET DEBT) (US$m]) ‘ ” | | 0.0 8 I 28 28.0) 20.0 37.7 40.0 50.0 mmm Operating CF Investing CF <e—FCF —e=FCF (excl. cost recovery ny z * Free Cash Flow represents cash flows from operating activities l
Slide 5: The Producing Assets
THE PRODUCING ASSETS OFFSHORE / MID-LIFE / MATERIAL JV INTERESTS * China, Beibu Gulf, 26.95% / 55% , (exp.] - CNOOC Operator (51%) - Roc Oil (19.6%) - Majuko Corp. (2.45%) New Zealand, Maari, 26% - OMV Operator* (69%) - Cue Energy [5%] * Sale to Jadestone Energy pending NZ Regulatory approvals RIU C
Slide 6: Block 22/12 (Beibu Gulf) 26.95% / 55%
Cc H | N A Block 22/12 (Beibu Gulf] 26.95% / 55% Oil Field Discovered Gi Field BEIBU GULF Oil Pipeline @ O° Gas Pipeline Production area s wz6t2n Block 22/12 Development Area WEIZHOU 6-12 PRODUCTION AREA WZ 6-12M Reserves & Resources (MMbbI) Za QB Gross Net p Li 2p 12.6 3.4 Nees 2c 48 13 oO MAP AREA
Slide 7: Reliable, High Margin Production
RELIABLE, HIGH MARGIN PRODUCTION CHINA - BLOCK 22/12 BLOCK 22/12 PRODUCTION HISTORY & OUTLOOK 14,000 12.000 naw * Current gross production rate >9,000 bopd. Workovers "0,000 ~ + Production rates maintained through infill _ and nearfield drilling, installation of soon additional water handling capaci
Slide 8: New Oil Project
NEW OIL PROJECT WZ 12-8E DEVELOPMENT First oil expected in Q1 CY 2022 with gross oil production from the first phase expected to average 4,000 bopd during the first year * Wellhead platform currently under tow to site. + The Development comprises a new wellhead platform tied back to existing facilit
Slide 9: New Zealand
NEW ZEALAND ied ea 26% pirenntagt A-NGAERE Oil Fiete Gas Field Gas Pipeline KAPUNI Horizon Petroleum Licence NEW ZEALAND Reserves & Resources (MMbbl) Gross Net 2P 12.3 3.2 2c 18.8 4.9 TASMAN SEA MAP AREA [7] y MAARI MANAIA g PMP 38160 RIU CONFERENCE 8 SEPTEMBER 2021 | PAGES
Slide 10: Stable Reservoir Performance
STABLE RESERVOIR PERFORMANCE NEW ZEALAND — MAARI / MANAIA MAARI/MANAIA PRODUCTION HISTORY & OUTLOOK Production decline rate arrested through continued water injection and well optimisation. Workover Successful workovers in Q4 CY2020 restored production towards the 3 year average MR6A workover comple
Slide 11: Corporate
CORPORATE ASX: HZN Market Cap. A$135 million @8.2 cents 1.579M SHARES Private sharehotiers im shares, 24.7% IMC, 5.4% Private shareholders Bm shares, 13% Samual Tony, 19.0% Institutional Investors. 1. Horizon dit Boardand ‘management, 0.1% Share Plan, BOARD OF DIRECTORS Mike Harding Gerrit de Nys Ch
Slide 12: Looking Ahead to 2022
LOOKING AHEAD TO 2022 WE PLAN TO MAXIMISE PRODUCTION INTO A CONTINUING STRONG OIL PRICE * Technical innovation: 12-8E commencement, infill wells, production efficiencies, nearfield exploration, field life extension * Minimise costs: both the JV’s and our own [<US$20/bbl) * Maximise Free Cashflow*: T
Slide 13: Compliance Statements
COMPLIANCE STATEMENTS Disclaimer Statements contained in this material, particularly those regarding the possible or assumed future performance, costs, dividends, returns, production levels or rates, prices, reserves, potential growth of Horizon Oil Limited, industry growth or other trend projection
Slide 14: For More Information
c he IN FOR MORE INFORMATION PLEASE CONTACT US Authorised, and approved, by the Chief Executive Officer CHRIS HODGE P +61 2 9332 5000 info@horizonoil.com.au Horizon Oil Limited Level 6, 134 William Street Woolloomooloo NSW 2011 Australia horizonoil.com.au
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