Horizon Oil Limited · ASX:HZN
Horizon Oil — H1 FY2016 Earnings Presentation
9 slides from Horizon Oil's earnings presentation, Feb 25, 2016
Slide 1: Half Year FY2016 Financial Results
For personal use only Half Year FY2016 Financial Results 25 February 2016 ABN 51 009 799 455
Slide 2: Half year highlights
Half year highlights For personal use only 10% increase in production from comparable half year to 681,900 barrels, 23% increase in sales to Performance 694,245 barrels at an average realised price (net of hedging) of US$59.41 per barrel, generating revenue of US$41.2 million Revenue and cash from o
Slide 3: Operational results
Operational results For personal use only Lost Time Injury Frequency Rate (LTIFR) of 0.0, Total Reportable Injury Frequency Rate (TRIFR) of 0.0 at HSSE 31 December 2015 over a 12 month rolling period (~122,000 manhours) No significant loss of containment incidents (<1 barrel of oil equivalent) Conti
Slide 4: Five year calendar year performance
Five year calendar year performance For personal use only Completion of Maari Growth Project in July 2015 has improved field 180,000 bbls of oil are hedged until June 2016 at a weighted average hedge performance price of US$95/bbl Average cash cost of US$15.17/barrel for calendar year 2015 Reserves
Slide 5: Profit and loss
Profit and loss For personal use only 6 Months to Dec 6 Months to Dec Change Change 2015 2014 (US$ million) (US$ million) (US$ million) (%) Production 681,900 bbls 618,665 bbls 62,235 bbls 10 Sales 694,245 bbls 565,396 bbls 128,849 bbls 23 Realised oil price US$59.41/bbl US$94.00/bbl US$(34.6)/bbl (
Slide 6: Profit and loss analysis
Profit and loss analysis For personal use only *Note - EBITDAX is a financial measure which is not prescribed by Australian Accounting Standards and represents the profit under Australian Accounting Standards adjusted for interest expense, taxation expense, depreciation, amortisation, and exploratio
Slide 7: Cash flow
Cash flow For personal use only 6 Months to 6 Months to Change Change Dec 2015 Dec 2014 (US$ million) (US$ million) (US$ million) (%) Opening cash 61.3 98.9 (37.6) (38) Net cash from operating activities (excl 31.3 26.3 5.0 19 G&A/other) General & Administrative (excluding (3.7) (4.2) 0.5 12 depreci
Slide 8: Cash flow analysis
For personal use only Cash flow analysis 8
Slide 9: Outlook for the next months
Outlook for the next 12 months For personal use only Corporate Outlook Continued reduction of overall gearing levels, including redemption of remaining US$58.8 million Convertible Bonds in June 2016 Drive further reductions in capex and G&A over the course of 2016 Maari/Manaia and PEP 51313, off