Hibiscus Petroleum Bhd. · MYX:HIBISCS
Hibiscus Petroleum Bhd — Investor Presentation (July 2015)
27 slides from Hibiscus Petroleum Bhd's investor presentation, July 2015
Slide 1: Seize The Opportunity!
Seize The Opportunity ! Before proceeding to read further, please refer to the Disclaimer section of this presentation. July2015 1 R1
Slide 2: Contents
Contents Company background and asset portfolio Mission and strategy The future Investment thesis 2
Slide 3: Company background and asset portfolio
Company background and asset portfolio 3
Slide 4: The Early Hibiscus Story
The Early Hibiscus Story Goal Evolution SHORT-TERM MEDIUM-TERM LONG-TERM • To identify and execute a Qualifying Asset • To strengthen our position in Asia Pacific by • To be the premier IOC in Malaysia and a that delivered a fair return to IPO investors leveraging on long standing regional respected
Slide 5: Positives - A Discovery!
Positives - A Discovery! During a 48-hour test, hydrocarbons were flowed to the surface and the well achieved light oil flow rate of up to 3000 stock tank barrels per day with no water production. First discovery after 30 years of exploration offshore east coast of Oman. 5
Slide 6: Our Oman Success Story
Our Oman Success Story Asset Name: Oman Block 50 Asset Type: Development Country: Oman Project Manager: Hibiscus Effective Date: August 2011 Water Depth/ Size: Up to 150m/ 16,900km2 Participating Interest: 22.4% (through Lime) Discovery Date: March 2014 (1st offshore discovery off east of Oman) Work
Slide 7: Overview of our Assets
Overview of our Assets HIBISCUS PETROLEUM BERHAD (Listed on Bursa Malaysia) Lime (Private) 35% 13% 3D Oil HiRex 41% (Listed- ASX) (Private) Middle East Norway 55% 20% VIC/ P57* RAK Offshore 59% PL 498 25% PL 503C 12.5% VIC/ L31* 100% Sharjah 100% PL 498B 25% PL707 10% Onshore Concessions Offshore Of
Slide 8: Asset Base & Work Program
Asset Base & Work Program EXPLORATION AND APPRAISAL DEVELOPMENT Norway Middle East 16 Licenses Block 50, Oman • 2-10.5% stakes • 22.4% stake • Q2 2016 – Extended Well Test • 1H 2015 - Drill three exploration wells (PL338C, PL591 & PL616) Australia • 2H 2015 - Drill two exploration wells VIC/L31 West
Slide 9: Resources and Reserves
Resources and Reserves 2P + 2C Oil Reserves (MMbbls)* Prospective Resources (MMbbls/MMboe)* 43.0 6.9 88.2 246.4 8.0 10.5 1,135.0 Norway: 2 to 10.5% Oman Block 50 - Masirah: 22.4% (Concession Operator) Australia - West Seahorse: 100% (Concession Operator) Sharjah - Zubara: 35% (Concession Operator) N
Slide 10: Timeline of What We've Achieved
Timeline of What We’ve Achieved VIC/P57 FDP approved and Production License Offered (5 December 2013) 3.00 Oman Drilling Program Commences (25 November 2013) Additional Concessions in Norway (2 May 2012) and RAK (10 April Share Price 2.50 2012) OMAN OIL DISCOVERY Shareholders Approve Lime (3 Februar
Slide 11: Hibiscus Share Price vs Oil Price
Hibiscus Share Price vs Oil Price Movement of Oil Price vs Share Price 120 16 January 2015 1.8000 14 October 2014 Announcement in relation to the acquisition of shares by Hibiscus Upstream Sdn. Bhd., Proposed Placement of up to ten percent in which Dr. Kenneth Gerard Pereira, the Managing Director o
Slide 12: Board of Directors
Board of Directors 180 Zainul Rahim bin Mohd Zain (Non-Independent Non-Executive Chairman) • Chairman Shell Companies Egypt and Deputy Chairman Shell Companies Malaysia • Formerly on the board of Petronas Carigali (2010 - 2014) 160 Dr Kenneth Pereira (Managing Director) • Former Managing Director of
Slide 13: Management Team
Management Team Mark Paton (Chief Business Development Vincent Lee (Chief Financial Officer) Devarajan Indran (Head of Petroleum Officer) Engineering) • Former CEO of ASX-listed Cue Energy Resources Ltd • Formerly with Mubadala Petroleum, Malaysia •Founder of Upstream Petroleum which was sold to • F
Slide 14: Capital Structure
Capital Structure Capital Structure : 30 June 2015 Price Mkt Cap • Non-Independent Directors and Management hold largest block (18.2%) Total Number (RM) RM’000 • Diversified shareholder base Total Number of • Most large shareholders are involved in or familiar with the oil and gas industry 0.74 927,
Slide 15: Vision, Mission and Strategy
Vision, Mission and Strategy 15
Slide 16: 2016 Mission
Achieving Scale 2016 Mission Moving towards a 100MMbbls/boe reserves target Current Projects- Drilling & Resources Development Unrisked prospective resources activities targeted (mmbls/boe)* Australia Sea Lion** 6.9 To be a Respected Independent Norway - PL591 8.8 E&P Company 5.1 - PL616 - PL708 11.
Slide 17: Hibiscus Strategy
Hibiscus Strategy PROSPECTIVE CONTINGENT RESOURCES RESOURCES RESERVES DECREASING RISK Highest value creation takes place in the $/boe, risked exploration phase when Cash-flow generated from production funds discoveries are made dividends, equity for development and high impact exploration which in t
Slide 18: Plan for Success (Development)
Plan for Success (Development) • Planning for Success offers a compelling RISK / REWARD ratio: – Planning for Success requires a very SMALL INVESTMENT – The REWARD is potentially 12 – 18 months earlier First Oil • Large Operators have internal processes that prevent such an approach • Small Operator
Slide 19: Forward Execution of Strategy
Forward Execution of Strategy Aggressive schedule with four to six exploration wells plus one appraisal well in 2015. A success in any one exploration well would be transformational. 2015 2016 2017 Stage Block J F M A M J J A S O N D Sharjah O Drilling six exploration wells in 2015: 5 in Norway (PL3
Slide 20: Any excitement around the corner..?
Any excitement around the corner..? 20
Slide 21: New Opportunities
New Opportunities Examples of project types being explored • Development of proven reserve Opportunity 1 • Field located in Malaysia • Acquisition of producing asset Opportunity 2 • Field located in Europe Opportunity 3 • Participation in exploration asset • Located in Malaysia Opportunity 4 • Parti
Slide 22: Key investment points
ef Ss ee Petroleum Key investment points
Slide 23: Key Investment Factors
Key Investment Factors • Hibiscus listed in July 2011 and has rapidly built up diversified a portfolio of exploration and development assets across the Middle East, Norway and Australia. • The Hibiscus group targets to generate 100m barrels of 2P/2C reserves and 10,000 barrels of production/day by e
Slide 24: Key Investment Factors
Key Investment Factors • The current market price provides a clear opportunity to invest into Hibiscus at a significant market undervaluation but with clear upside potential. • Hibiscus has the ability to capitalise on the low oil price environment by driving down the cost of oil services and asset
Slide 25: Thank you
Thank you http://www.hibiscuspetroleum.com 25
Slide 26: Disclaimer
Disclaimer This presentation has been prepared by Hibiscus Petroleum Berhad (the “Company”) solely for use at a presentation to be made as of this date and may not be used by any other party or for any other purpose. By attending the meeting where the presentation is made, or by reading the presenta
Slide 27: Disclaimer (continued)
This presentation is made to and directed only at (i) persons outside the United Kingdom, (ii) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) and (iii) high net worth individuals, and other persons t
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