Horizon Oil Limited · ASX:HZN
Horizon Oil — Investor Presentation (November 2004)
31 slides from Horizon Oil's investor presentation, Nov 4, 2004
Slide 1: ASX Company Announcement: Investor Presentation Update
4 November 2004 Australian Stock Exchange Limited Company Announcement Exchange Centre 20 Bridge Street Sydney NSW 2000 Dear Sir, INVESTOR PRESENTATION UPDATE Please find attached a copy of a presentation providing investors with an update on Horizon Oil Limited's activities. The document may be vie
Slide 2: Horizon Oil Limited Investor Presentation
HORIZON OIL LIMITED Investor Presentation CCl a This presentation contains some references to ferward looking assumptions, representations, estimates and outcomes. These are uncertain by the nature of the business and no assurance can be given by Horizon Oil Limited that its expectations, estimates
Slide 3: The Horizon Oil Team
athe Horizon Ol Team Horizon. Oj] BOARD RESPONSIBILITIES EXPERIENCE Fraser Ainsworth am Chairman; Member of Audit, Remuneration 26 years in CSR’s resource & energy business, former MD of Delhi, former MD of SAGASCO, Founder & Executive Director of Potential Energy, Non-executive Director of Oil Sear
Slide 4: About Oasis
D f&bout Oasis Horizon Oj] # Oasis Energy Investments Pty Ltd is a company specifically incorporated to hold an interest in Horizon Oil # Current shareholding is 149.6 million ordinary shares, equivalent to 33.1% of shares on issue » Shareholders are:- » TRT Holdings, Inc. (and associates) - control
Slide 5: Investment Objectives
ainvestment Objectives _Horizan.Qi| * Objectives » To build Horizon Oil to a value peak within 5 years (2007) » To achieve a share price of 50 cents per share, with a stretch target of $1.00 » To provide all shareholders with the opportunity of crystallising their investment # Industry Environment »
Slide 6: Mae a a
— — - — Mae a a oe ae oe Lisa JG se — cel) _ Ce. i Nisin i: Gi ee . ae, ue Lo Be oe Investor #resentetion November 2004
Slide 7: Horizon Oil's Portfolio
Horizon O's Port’o jo R @ 180 . Se ; ; - . Sabie: of itereste: = Lei Dong >: Meir, PEP 28418, NZ 10% & . : . : “) Biwok 2282 0Chinw © Kapal. PEL Zao, 2 Bayou Ghactaw, | @ 400 - Kapul Lei Gerig, Chine a a. o a ef : Bayou. 58 Block 2242 \.-."| Choctaw S Be 80 + discoveries ye : Pad 7 opt 3 Block 22/12
Slide 8: Horizon Oil Valuation
Jrorizeon Ol Valuation Net $m cps reserves (mmbo) Market cap (452 m shares) 45 10 Cash 5 1 Maari P50 reserves 5 30 - 50 7-11 Development of Block 22/12 discoveries 4-5 20 - 40 4-9 Bayou Choctaw exploration / development 2-3 30 - 50 7-11 Total -— Projects under development 11-13 | 85-145, 19-32 Block
Slide 9: Work Programme 2005-2006 (1)
aivWork Programme Horizon.Oi) 2005 — 2006 (1) Drill Kapul in PPL 240, PNG / HZN interest 20% / gross potential 130 mmbo Bayou Choctaw, USA / HZN interest 14.5 - 28% / gross potential 12 - 16 mmbo » Finalise 3D seismic reprocessing December 2004 » Rehabilitate existing producers >» Complete new zones
Slide 10: Work Programme 2005-2006 (2)
aWork Programme Horizon.Oi) 2005 ~ 2006 (2) Maari field, NZ / HZN interest 10% / Ps, reserves 50 mmbo gross » FID Q1 2005 » Develop and onstream Qi 2007 at initial rate of 35,000 bopd gross Lei Dong, China / HZN interest 100% / virgin basin » Reprocess and interpret up to 2,800 km existing seismic »
Slide 11: Activity Schedule
Activity Schedule _Horizon.Oil 1S Pack Name SE : . a ae ai. favinteelwan healer Ace Mavlvan) dic cuenta Cink Mon Giecl tan FP raldlns Aor Ma dunt Jul dua Semmes, baoacieaienn Seb Manca Mammut! “jistliaiar af Exialing Zones ~~ ___ i Workewer of Mew Zones. [ i 7 Sighte siadigian # BUD Griting (a waile
Slide 12: Bayou Choctaw
VICTORY LEASE TRACT 1 285 ACTES Horizon Ol 28.8% VICTORY LEASE THACT 2 200 Acres Horizon Oil 14.0% @ OH Well ee Cas Well ® Oil and Gas Well @ Olland Gas Show | ® Oi, abandoned ce Dry hole BAYOU CHOCTAW (14.0%-28.5%) WILBERT LEASE 4113 Acres Herzen O1 19.8% STRATEGIC PETROLEUM RESERVE Investor #resen
Slide 13: Bayou Choctaw / The Bend
Wikre EN ae Se Te He BEND. Investor #resentetion November 2004
Slide 14: 22/12 - China
OH Fletd ee Gas Meld 22/12 - China Horizon.0i). Wash aed beSWwel, a0 SGSHNG SURVEY ABEA \Weiziun island Production Facilities BLOCK 22/12 456 sq km Area, Wei tae G Be BO Investor #resentetion November 2004
Slide 15: Block 22/12 Development Plan
Mgiock 22/12 Development Plan Horizonoil_ Concept » Unmanned minimal structure(s) (water depth 30 m) connected by flowlines to CNOOC 12-1 platform » Crude processing and export carried out on 12-1 platform » Processing and transportation fee paid to CNOOC » Strong local market for crude oil Candidat
Slide 16: Maari Development
iMaari Development Oil / Condensate pipeline # Oi and Gas Well Gas pipeline @ Ohi, abandoned Methandl/ LPG pipeline Ol-ahaws Herizon O1 Permit OW and Gas. Fields. Gas Condensate Feids Meki-2a 432 km” PEP 38412 Investor #resentetion November 2004
Slide 17: Maari Development Planning
UMaari Development Planning _HorizenQil_ Field fully appraised, development planning and design underway Overall development concept to be confirmed by end 2004 - most likely horizontal wells with wellhead platform / FPSO or jack-up DPU / FSO FEED to follow immediately thereafter FID April 2005 Deve
Slide 18: Preferred Maari Development Option
Preferred Maari Development Option a Horizon. Oj] Investor #resentetion November 2004
Slide 19: Wellhead platform with jack-up
ellhead platform with jack-up Horizon. : oe long tig @longeice (FPSO not shown) LC Investor #resentetion November 2004
Slide 20: Jack-up drilling and production unit with FSO
UjJack-up drilling and production unit _HorlzanQil (OPO) with FSO 9 background
Slide 21: Papua New Guinea
Pap Guinea ears pres oe Co Hovizen On permit wena KURO OF GIPBHNE Oi Feelds %& Gas Fields Lo Ne Vell ie PAL 4 (7.2856) Sta (Gas/Condensate discave He a i KUTUBU CE ees PRL 5 (7.28%) Elevala/Kets | ty _ (Gas/Condensate disce Lo C CL AG OL MMMM Thi i i iii TTT ATTAIN cell us es eee ae Le iS a i tio. I
Slide 22: Foreland Drilling Program
Foreland Drilling Program 4 TRPL235 § geen : oie! : 7 ant 7° 00'S pe Decias [X O: ‘atti 1 7° 308}-: 6 3km ——— el PPL240 *OilSeatch Limited (Operator) 7e.00ee0e Bllgh PNG La (Horizon Ol) 72,000000 Gadel (PNG) Limited 7.000000 ube tin, a betes) I | 142° 30E 143° 0O'E 143° 30'E 144° 0OE Investor #resen
Slide 23: Prospect
oe eu! Prospect Pholim & Horizon.Qil_ leanne 8 visa PNO1-117 c in (ey 20m), BP Re OS | OPaP eS Le AY EOE uses eee ws Investor #resentetion November 2004
Slide 24: Kapul Prospect
Kapul Prospect _Horizan.Qi| PPL240 ~ Kapul Structure: dip line PN91 - 122 § Proposed Kapul-1 N paar Y caro ee — Near top KFZ ee al : ‘ i ee ee eae re es Se ee a S B Carb Wedge — Beard ers me 1.0 ze ae oe os ¥ Toro vom TF Yagifu — Basement TWT (sec) a ye 2.0 en : eee aL A a a . es . Sa ee ee ota a f
Slide 25: Lei Dong Block 24/05
iLei Dong Block 24/05 Horizon. Oi) see we Eo He ‘CHINA - MAOMING SAS 'Hoitzon Ol tae. Bash | , yWUSHI SAG : HAIZHONG SAG OH Gas Diseovery He ee a : MN Se ‘S| LEI DONG BASI FUSHAN SAG Unedied CNP Producing Oil . a, ‘Halharcisiand i Investor #resentetion November 2004
Slide 26: Coverage
c Coverage L LEI DONG | _ STUDY AREA - Investor #resentetion November 2004
Slide 27: Comparison Of East Sag To Weixinan
Comparison Of East Saq To Weixinan —s ae Investor Presentetion Novembsr 2004
Slide 28: Comparison Of East Sag To Weixinan
Comparison Of East To Weixinan ion November 2004
Slide 29: Prospect QS 9-1
Prospect QS 9-1 ie Be: ae, 480188
Slide 30: Activity Schedule
Activity Schedule _Horizon.Oil 1S Pack Name SE : . a ae ai. favinteelwan healer Ace Mavlvan) dic cuenta Cink Mon Giecl tan FP raldlns Aor Ma dunt Jul dua Semmes, baoacieaienn Seb Manca Mammut! “jistliaiar af Exialing Zones ~~ ___ i Workewer of Mew Zones. [ i 7 Sighte siadigian # BUD Griting (a waile
Slide 31: ‘Level 70, Sulla 7, Will Steal
‘Level 70, Sulla 7, 100 Will Steal itiney, NSW. 2014 mLeiraa ‘wen. horizonalL coma 7 464 2 O32 5000, F404 2 Bae 5060