Horizon Oil Limited · ASX:HZN
Horizon Oil — Investor Presentation (June 2024)
15 slides from Horizon Oil's investor presentation, Jun 18, 2024
Slide 1: MST Financial Oil & Gas Webinar - Investor Presentation Notice
Level 4, 360 Kent Street P +61 2 9332 5000 Sydney NSW 2000 F +61 2 9332 5050 Australia horizonoil.com.au 18 June 2024 MST FINANCIAL OIL & GAS WEBINAR - The Manager INVESTOR PRESENTATION NOTICE Company Announcements ASX Limited Please find attached the presentation to be given by Horizon Oil Limited’
Slide 2: MST Financial Oil & Gas Webinar
MST FINANCIAL OIL & GAS WEBINAR 19 JUNE 2024
Slide 3: Compliance Statement & Important Information
vvvyvyvy COMPLIANCE STATEMENT & IMPORTANT INFORMATION 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 o
Slide 4: Delivering On Strategy
DELIVERING ON STRATEGY LADIZAN ~— Q MAXIMISE FREE CASHFLOW" FURTHER DISTRIBUTIONS TO SHAREHOLDERS CONTINUE INVESTING IN PRODUCTION GROWTH » Generated EBITDAX for the 2023 calendar year of US$95.3 million, with net cash at period end of US$45.1 million » Record 2023 calendar year production and sales
Slide 5: Record Calendar Year Free Cash Flow
RECORD CALENDAR YEAR FREE CASHF FREE CASH FLOW! 100 80 us$m 0 oun ci co Cy 2019 CY 2020 cy 2021 CY 2022 CY 2023 mmm Operating CF mum investing CF ~e—FCF -e—FCF (excl. cost recovery} Record calendar year free cash flow despite material investments in our low-cost producing Block 22/12 asset, demonstr
Slide 6: Block 22/12: Solid Production Performance Continues
BLOCK 22/12: SOLID PRODUCTION PERFORMANCE CONTINUES, RESERVES REPLACEMENT PLANS MATURI ASSET OVERVIEW P Block 22/12, Beibu Gulf, China, 26.95% b> JV: CNOOC (51% - Block 22/12 Operator), Roc Oil (19.6%), Oil Australia Pty. Ltd. (2.45%) » Block 22/12 generates approximately 65% of Horizon operating ca
Slide 7: Block 22/12
BLOCK 22/12: Infill/appraisal drilling CHINA Pot Water injection project c; ey BLOCK 22/12 WZ 6-12 PRODUCTION AREA Liquid handling capacity upgrade BEIBU GULF 5km LEGEND © Producing oil Feld — OiiPipetine — Gas Pipeline [© Production Area Infill/appraisal drilling 4 Infill/appraisal WZ 1 g drilling
Slide 8: Block 22/12: History & Forecast [Gross] From Jan 2024
BLOCK 22/12: HISTORY & FORECAST [GROSS] FROM 1 JAN 2024 HABI7ZAN qe History J Forecast mmm 20,000 = = History m Forecast = Indicative future activities End of End of 15,000 WZ6-12/ Block 22/12. | | W12-8W PSC aol Production (Petroleum Qa Period (SDA) Contract] fo} 2 @ 10,000 Indicative £ future WZ12
Slide 9: Maari: Production Remains Stable; Licence Extension Application This Calendar Year
MAARI: PRODUCTION REMAINS STABLE; LICENCE EXTENSION WADIZARI APPLICATION THIS CALENDAR YEAR ease > Maari, New Zealand, 26% b> JV: OMV (69% - Operator}, Cue Energy (5%) KAPUNI ne ‘ZEALAND > Maari/Manaia generates approximately 35% of Horizon operating cashflow > Maari crude continues to attract stron
Slide 10: Maari: History & Forecast [Gross] From Jan 2024
MAARI: HISTORY & FORECAST [GROSS] FROM 1 JAN 2024 ems History J Forecast mammmp History mForecast mLife Extension mlndicative Future Activities 10,000 Current 8,000 a ermit Indicative expiry s future 7 . . a activities’ Possible cessation fa} of production - 2 December 2030 o 6,000 {subject to permi
Slide 11: Mereenie: Investment Thesis
MEREENIE: INVESTMENT THESIS LADIZAN S CAPITAL MANAGEMENT POTENTIA IVE DOMESTIC GAS MARKETSAND ENHANCES HORI DELIVERS EXPOSURE TO ATTR QUISITI > Initial purchase price of US$27.6 million’ (A$42.5 million] funded from debt, with deferred and contingent milestone payments of up to US$5.8 million’ (A$9
Slide 12: Mereenie: Transaction Highlights
MEREENIE: TRANSACTION HIGHLIGHTS LINDIZAR MEREENIE IS A HIGH MARGIN AND LOW-COST CONVENTIONAL OIL & GAS PROJECT WHICH IS LINKED TO THE EAST COAST GAS MARKETS VIA THE NORTHEN GAS PIPELINE (NGP]. THE PROJECT HAS A TRACK RECORD OF STABLE PRODUCTION AND CASH FLOWS CONVENTIONAL PRODUCING ONSHORE GAS ASSE
Slide 13: Mereenie: Stable Production & Material Impact On The Portfolio
MEREENIE: STABLE PRODUCTION & MATERIAL IMPACT ON THE PORTFOLIO MEREENIE - MATERIAL INCREASE IN GROUP RESOURCES AND PRODUCTION, OFFSETING DECLINE IN OTHER ASSETS GROUP PRODUCTION FORECAST TO 2030, BOEPD Rate (bbl/d) 8,000 7,000 6,000 5,000 4,000 3,000 2,000 1,000 0 Jul-22 Jul-23 Jul-24 Jul-25 Jul-26
Slide 14: FY24 Guidance
FY24 GUIDANCE* WUADIZAN A STRONG END TO THE FINANCIAL YEAR ANTICIPATED - DRIVEN BY PRODUCTION AND OIL PRICE Revenue US$110 - 120 million » Production additions in Sales volumes forecast to »> Revenue expected to be Block 22/12 from proposed be lower than production for supported by continued WZ6-12/
Slide 15: Contacts
CONTACTS RICHARD BEAMENT, CEO +61 2 9332 5000 info@horizonoil.com.au Horizon Oil Limited Level 4, 360 Kent Street Sydney NSW 2000 Australia horizonoil.com.au