Horizon Oil Limited · ASX:HZN
Horizon Oil — Shareholder Meeting (November 2012)
29 slides from Horizon Oil's shareholder meeting presentation, Nov 22, 2012
Slide 1: Corporate Presentation – ASX cover letter
For personal use only 22 November 2012 The Manager, Company Announcements Australian Securities Exchange Limited Exchange Centre 20 Bridge Street Sydney NSW 2000 CORPORATE PRESENTATION Please find attached CEO, Brent Emmett’s presentation following Horizon Oil’s Annual General Meeting. Yours faithfu
Slide 2: Annual General Meeting
For personal use only HORIZON OIL LIMITED ABN 51 009 799 455 Annual General Meeting 22 November 2012 1 1
Slide 3: Chairman's Address
For personal use only HORIZON OIL LIMITED ABN 51 009 799 455 Chairman’s Address 22 November 2012 2 2
Slide 4: Annual General Meeting
For personal use only HORIZON OIL LIMITED ABN 51 009 799 455 Annual General Meeting 22 November 2012 3 3
Slide 5: Priorities - 2013
HORIZON OIL LIMITED ABN 51 009 799 455 For personal use only PRIORITIES - 2013 Brent Emmett Chief Executive Officer 22 November 2012 4 4
Slide 6: Asset Location
Asset Location Nothing’s changed changed… For personal use only …focus on productive fairways and mature operating areas in SE Asia / Australasia 5
Slide 7: Net Reserves, Resources and Exploration Potential at Aug '12
Net Reserves, Resources and Exploration Potential at 1 Aug ‘12 For personal use only RESERVES CONTINGENT RESOURCES PROSPECTIVE RESOURCES Proven + Probable Proven + Probable Best Estimate 1 6 bcf gas equals 1 boe; 1 bbl condensate equals 1 boe 2 Net of production of 19.2 mmbo gross through 31 July 20
Slide 8: Net Production Forecast – Reserves and Contingent Resources
Net Production Forecast – Reserves and Contingent Resources For personal use only 7
Slide 9: Maari / Manaia Fields – New Zealand
Maari / Manaia Fields – New Zealand On stream February 2009… For personal use only …producing over 20 mmbo and US$1.7 billion in revenue to date 8
Slide 10: Maari Field Development Assets
Maari Field Development Assets For personal use only 9
Slide 11: Maari/Manaia Upside Potential
Maari /Manaia Upside Potential For personal use only Remaining reserves of 88 mmbo in existing producing zones 10
Slide 12: Maari/Manaia Priorities - 2013
Maari/Manaia Priorities - 2013 For personal use only Continue to improve pump run-time and pursue other production optimisation options Implement waterflood improvement plan for Maari M2A and Moki zones D ill Maari Drill M i Moki M ki Cycle C l 2 production d ti wellll Design and execute Maa
Slide 13: Maari/Manaia Growth Projects
Maari//Manaia Growth Projects Maari For personal use only Unrisked potential of 35 mmbo in new zones 12
Slide 14: PEP 51313 – New Zealand
PEP 51313 – New Zealand 2,595 sq km block with 5 year term, logical extension off Maari/Manaia / trend… For personal use only PEP 51313: HZN 30% Todd 50% (Op) ( p) CUE 20% …deep prospect and lead inventory with 163 mmbo potential – well on Whio in 2013 13
Slide 15: China 22/12 – Development Targets
China 22/12 – Development Targets For personal use only Block 22/12 Post-CNOOC Back-in: HZN 26.95% CNOOC C OOC 51.00% 5 00% (Op) ROC 19.60% Majuko Corp 2.45% 14
Slide 16: Block 22/12 Phased Development Scheme
Block 22/12 Phased Development Scheme For personal use only 15
Slide 17: Beibu Development Construction Progress
Beibu Development Construction Progress Wellhead For personal use only platforms loadout from Tanggu yard (Left) PUQB jacket lift by heavy lift vessel Lanjiang (Right) PUQB module support frame being lifted onto platform jacket COSL HYSY 931 jack-up rig drilling over WZ 6-12 platform 16
Slide 18: Block 22/12 Priorities - 2013
Block 22/12 Priorities - 2013 For personal use only Complete WZ 6-12 + WZ 12-8W (Phase I) development as planned and bring on stream Incorporate discoveries from exploration drilling campaign in Phase I development Evaluate remaining exploration potential surrounding WZ 6-12S structure - drill
Slide 19: WZ 12-8E Early Production Concept – Phase II
WZ 12 12--8E Early Production Concept – Phase II For personal use only WZ 12‐1PUQB Leased L d mobile bil production d ti platform NOED Mobile Production Platform Flexible pipeline Initially up to three production wells Run extended DST or pilot production Drill more wells (4-5) depending o
Slide 20: Papua New Guinea
Papua New Guinea Q lit companies Quality i continue ti to t enter t jurisdiction… j i di ti For personal use only …several large projects gaining traction 19
Slide 21: PRL 4, PRL 21 and PPL 259 – Papua New Guinea
PRL 4, PRL 21 and PPL 259 – Papua New Guinea For personal use only PRL 4: HZN 50% (Op) Talisman 40% Mitsubishi 10% PRL 21: HZN 45% (Op) ( p) Talisman 32.5% Kina 15% Mitsubishi 7.5% PPL 259: HZN 25% Eaglewood 40% P3GE 35% 20
Slide 22: Stanley Field Development Status
Stanley Field Development Status Stanley-2 and -4 development wells successfully drilled with good results For personal use only Reserves certified, with 30% upgrade pg to p pre-drill volumes FEED complete Field production facility site and access near complete; plant supplier selected Con
Slide 23: Stanley Gas Plant Site
Stanley Gas Plant Site For personal use only 22
Slide 24: Kiunga Base and Condensate Loadout Facility
Kiunga Base and Condensate Loadout Facility For personal use only 23
Slide 25: PNG Priorities - 2013
PNG Priorities - 2013 For personal use only Gain PDL approval for Stanley field in PRL 4 and begin construction and installation phase Finalise arrangements g for g gas sales into local market Drill Tingu prospect in PRL 21 mid 2013 Carry out FEED for Elevala/Ketu development Conduct pre-F
Slide 26: Gas Commercialisation Options
Gas Commercialisation Options For personal use only Power generation – possibly with PNG Energy Developments Ltd – Ok Tedi Mining Limited (OTML) – Frieda River project (if sanctioned) – Local towns and communities in Kiunga – OK Menga – Frieda River corridor – Export to West Papua: Merauke, Jayapu
Slide 27: Ketu-2 Well and Flow test
Ketu--2 Well and Flow test Ketu For personal use only 26
Slide 28: HZN Share Price … Catalysts for Re-rating
HZN Share Price … Catalysts for Re- Re-rating Timeframe Improved production performance for Maari field and progress on further field For personal use only development Ongoing Achievement of construction milestones on Block 22/12 Phase I development and first oil Ongoing/Q1 2013 Progress on Bl
Slide 29: Please visit the Horizon Oil website
Please visit the Horizon Oil website www.horizonoil.com.au to see:- see:- Detailed Investor Presentation Latest Quarterly Report For personal use only Analyst reports on HZN Level 7, 134 William St, Woolloomooloo NSW 2011 The reserve and resource information contained in this Tel: +612 9332 5000 ann