Tullow Oil Plc · LSE:TLW
Tullow Oil — FY2011 Earnings Presentation
12 slides from Tullow Oil's earnings presentation, March 2012
Slide 1: Fact Book - March 2012
March 2012 FACT BOOK - MARCH 2012
Slide 2: Asset Overview
Asset Overview Europe, South West & North South & East America & Asia Africa (WNA) Africa (SEA) (ESAA) Europe, South America 2 & Asia (ESAA) 1 1 Netherlands EDP 2 United Kingdom EDP 3 French Guiana E 4 Guyana E 5 Suriname E 6 Bangladesh EDP 7 7 Pakistan EP 7 6 8 4 5 1 3 9 2 6 5 3 6 4 1 2 West & Nort
Slide 3: Summary of 2011 full year results
Summary of 2011 full year results 2011 FULL YEAR RESULTS 2011 2010 Variance Sales Revenue ($m) 2,304 1,090 +111% Operating profit ($m) 1,132 262 +332% Profit after tax ($m) 689 90 +670% Basic earnings per share (cents) 72.5 8.1 +795% Full year dividend per share (pence) 12.0 6.0 +100% Cash generated
Slide 4: 2011/2012 Capex Programmes
2011/2012 Capex Programmes CAPITAL EXPENDITURE STRATEGY In 2012, the Group will continue to allocate its capital to projects that provide the opportunity for the highest return for shareholders. Our capital will be allocated as follows: • West & North Africa - Ghana Jubilee remediation and Jubilee P
Slide 5: 2011/2012 Costs and Depreciation
2011/2012 Costs and Depreciation OPERATING DATA 2011 2012 OPERATING COSTS1 $/boe $/boe Asia 3.3 4.0 Equatorial Guinea, Congo (Brazzaville), Côte d’lvoire 10.0 13.0 Gabon 25.4 22.0 Ghana 6.6 10.0 Mauritania – Chinguetti 35.1 55.0 Netherlands 17.1 22.0 UK SNS 19.4 21.0 DEPRECIATION1 Asia 3.0 3.0 Equat
Slide 6: 2012 Development Opportunities
2012 Development Opportunities WEST & NORTH AFRICA Sanction First No. of Country Developments Decision Production Wells Status Congo M’Boundi Field 10+ wells Continued infill drilling and addition of water injector Producing (Brazzaville) Re-development p.a wells. Water injection upgrade completed i
Slide 7: 2012 Development Opportunities
2012 Development Opportunities EAST & SOUTH AFRICA Sanction First No. of Country Developments Decision Production Wells Status Kudu gas to power project concept studies Namibia Kudu 2012 2015-2016 3-4 completed. Commercial discussions with NamPower. Early Commercialisation Appraisal drilling will co
Slide 8: 12 Month Exploration and Appraisal programme
12 Month Exploration and Appraisal programme mmboe Country Block Prospect Interest Mean Gross Upside* Spud Date WEST & NORTH AFRICA CI-105 Kosrou-1 22.37% 265 650 In progress Côte d’Ivoire CI-103 Paon-1 45% (op) 205 500 Q2 2012 Gabon Kiarsseny Gnondo-1 52.78% (op) 40 90 Q4 2012 Ntomme-2A DST In prog
Slide 9: 2011 Reserves and Resources summary
2011 Reserves and Resources summary WEST & NORTH SOUTH & EAST EUROPE, SOUTH AFRICA AFRICA AMERICA & ASIA TOTAL Oil Gas Oil Gas Oil Gas Oil Gas Petro. mmbbl bcf mmbbl bcf mmbbl bcf mmbbl bcf mmboe COMMERCIAL RESERVES 1 January 2011 245.9 22.0 - - 1.7 258.5 247.6 280.5 294.4 Revisions 8.1 (0.8) - - -
Slide 10: Production Summary – Key Producing Assets
Production Summary – Key Producing Assets Country Asset Interest 2011 Actual 2012 Forecast Fiscal Regime boepd boepd WEST & NORTH AFRICA Congo (Brazz) M’Boundi 11% 3,000 2,400 PSC Côte d’Ivoire Espoir 21.3% 3,750 3,000 PSC Ceiba 14.25% 2,850 3,400 PSC Equatorial Guinea Okume 14.25% 10,200 6,900 PSC
Slide 11: Net Daily Entitlement as % Production
Net Daily Entitlement as % Production WEST & NORTH AFRICA Contract Type 2011 2012 2013 CONGO (Brazz) M’Boundi PSC 69 69 69 CÔTE D’IVOIRE Espoir PSC 58 74 76 EQUATORIAL GUINEA Ceiba PSC 77 87 87 Okume Complex PSC 73 75 76 GABON Echira Corp Tax 100 100 100 Etame PSC 47 72 62 Limande Corp Tax 100 100 1
Slide 12: Tullow Oil plc
Tullow Oil plc 9 Chiswick Park 566 Chiswick High Road London, W4 5XT United Kingdom Tel: +44 (0)20 3249 9000 Follow Tullow on: Fax: +44 (0)20 3249 8801 Email: chris.perry@tullowoil.com FACT BOOK - MARCH 2012