Dana Gas PJSC · ADX:DANA

Dana Gas PJSC — Q3 2017 Earnings Presentation

20 slides from Dana Gas PJSC's earnings presentation, Nov 13, 2017

  1. Slide 1: Clean Energy for the Future: Q3 2017 Financial Results

    Clean Energy for the Future Q3 2017 –Financial Results 13 November 2017

  2. Slide 2: Disclaimer

    Disclaimer This presentation contains forward-looking statements which may be identified by their use of words like “plans,” “expects,” “will,” “anticipates,” “believes,” “intends,” “projects,” “estimates” or other words of similar meaning. All statements that address expectations or projections abo

  3. Slide 3: Contents

    Contents 1. Settlement between the KRG and Pearl 2. Headlines 3. Financial Update 4. Country Performance 5. Summary

  4. Slide 4: 1. Settlement between the KRG and Pearl

    1. Settlement between the KRG and Pearl

  5. Slide 5: Sept 2017: KRG & Pearl Reach Final Settlement

    Sept 2017: KRG & Pearl Reach Final Settlement “The Parties have mutually agreed to fully and finally settle all their differences amicably by terminating the Arbitration and related court proceedings… implementing a mechanism for settlement of $2,239 million…” Settlement Highlights: Settlement – in

  6. Slide 6: 2. Headlines

    2. Headlines

  7. Slide 7: Highlights

    Highlights Operations Financials  9M Group production 3% higher at 67,600 boepd  9M - $330m revenue and $86m gross profit – up 18% and  9M Egypt production 8% higher at 39,600 boepd 37% respectively vis-à-vis 9M 2016  9M KRI production steady at 25,600 boepd  9M - $125m net profit principally d

  8. Slide 8: 2. Financial Update

    2. Financial Update

  9. Slide 9: Financial Highlights

    Financial Highlights Gross Revenue (million USD) EBITDA (million USD) 350 330 300 275 2016 2017 2016 2017 300 280 250 250 200 200 143 153 150 150 102 108 100 100 53 50 50 0 0 9M Q3 9M Q3 Gross Profit (million USD) Net Profit (million USD) 100 150 2016 2017 86 2016 2017 125 125 75 102 63 100 50 75 27

  10. Slide 10: Production (boepd) & Realized Prices (USD/boe)

    Production (boepd) & Realized Prices ( USD/boe) Average production 9M 2017 Vs 9M 2016 Average production Q3 2017 Vs Q3 2016 69,400 67,600 65,600 67,600 Q3 2016 9M 2016 Q3 2017 9M 2017 40,000 40,300 39,600 36,600 26,100 25,000 25,900 25,600 2,560 1,550 740 750 2,375* 1,700 725 700 Group Egypt KRI UAE

  11. Slide 11: CAPEX & OPEX

    CAPEX & OPEX G&A / OPEX (million USD) CAPEX (million USD) G&A OPEX 56 52 234 40 38 122 109 23 28 13 10 11 2015 2016 9M 2016 9M 2017 2015 2016 9M 2016 9M 2017 G&A / OPEX CAPEX  Company continues to optimise costs  Capex at $28m – minimal outlay  Disciplined, low spending approach  Upcoming commit

  12. Slide 12: Cash Flow, Liquidity & Receivables

    Cash Flow, Liquidity & Receivables Free Cash Flow (million USD)  Positive free cash flow as a result of Settlement Agreement with the KRG; as well 407 as higher revenues and low capital 366 expenditure 203 181  $562m cash in hand end of Q3 2017* 112 82 41  KRG receivables paid and balance 22 -30

  13. Slide 13: 3. Country Performance

    3. Country Performance

  14. Slide 14: Egypt: Strong production

    Egypt: Strong production El Wastani  9M production avg. 39,600 boepd South Abu El Naga  El Wastani Gas Plant • Successful shutdown in Q2 • South Faraskur Compression completed – add 5mmscf/d • Maximum capacity – 40,000 boepd  3 well drilling programme – 2x Block 1; 1x West Manzala Development Lea

  15. Slide 15: Kurdistan Region of Iraq

    Kurdistan Region of Iraq  Reached a settlement agreement with the KRG.  Dana Gas share of production averaged 25,600 boepd in 9M 2017  Slight drop due to maintenance work 15

  16. Slide 16: UAE

    UAE  Producing gas since February 2016  Q3 2017 production was 1,550 boepd  Completed a notional Field Development Plan and intervention program  A final decision is due by year-end once annual reserve audit is completed 16

  17. Slide 17: Arbitration & Sukuk Update

    Arbitration & Sukuk Update MOL (Pearl Petroleum shareholder)  MOL expressing dissatisfaction with outcome – wanted to renegotiate terms with Dana Gas and Crescent Petroleum (namely certain contingent payments)  Obtain formal declaration to resolve the matter UAE Gas Project (NIOC)  Oral hearings

  18. Slide 18: 4. Summary

    Ly 4. Seomary ff i

  19. Slide 19: Summary

    Summary 1 Settlement Agreement with the KRG with win-win outcome Solid third quarter – operations, financials and cost 2 efficiencies Investment plans to double production of gas and condensate 3 and further develop our world-class fields in the KRI Producing at capacity in Egypt – 3 well drilling p

  20. Slide 20: Reach Us: Dana Gas PJSC

    Reach Us: Dana Gas PJSC P. O. Box 2011, Sharjah, UAE www.danagas.com E-mail : [email protected] Direct : +971 6 519 4401

Dana Gas PJSC — Q3 2017 Earnings Presentation on 6ix