Dana Gas PJSC · ADX:DANA

Dana Gas PJSC — FY2017 Earnings Presentation

18 slides from Dana Gas PJSC's earnings presentation, Mar 15, 2018

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

    Clean Energy for the Future FY 2017 –Financial Results 15 March 2018

  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 Headlines 2 Financial Update 3 Country Performance 4 Sukuk & Arbitration 5 Summary

  4. Slide 4: 1. Headlines

    1. Headlines

  5. Slide 5: Key Takeaway

    Key Takeaway Operations Financials  KRG arbitration settlement; plans underway to increase total  FY17 gross revenue $450m vs FY16 $392m due to improved production by 20% in 2018 and 170% by 2020 realized prices and higher production  Group production increased 1%: FY17 67,600 vs FY16 67,050  FY

  6. Slide 6: 2. Financial Update

    2. Financial Update

  7. Slide 7: Financial Highlights

    Financial Highlights Gross Revenue (million USD) EBITDA (million USD) 400 2016 2017 2016 2017 500 450 350 334 392 300 400 250 207 300 200 200 150 112 120 100 64 59 100 50 0 0 Q4 FY Q4 FY Gross Profit (million USD) Net Profit (million USD) 150 2016 2017 83 2016 2017 80 118 103 100 30 -20 Q4 FY 50 40

  8. Slide 8: Production & Realized Prices (boepd)

    Production & Realized Prices (boepd) FY 2017 vs FY 2016 Q4 2017 vs. Q4 2016 67,050 67,600 69,450 67,350 Q4 2016 FY 2016 FY 2017 Q4 2017 37,600 39,500 40,500 39,050 26,000 25,750 26,200 26,100 2,700 1,650 750 700 2,100 1,500 650 700 Group Egypt KRI UAE EBGDCO Group Egypt KRI UAE EBGDCO Average Realiz

  9. Slide 9: CAPEX & OPEX

    CAPEX & OPEX G&A / OPEX (million USD) CAPEX (million USD) G&A OPEX 55 56 52 52 234 122 122 28 23 13 15 47 2014 2015 2016 2017 2014 2015 2016 2017 G&A / OPEX CAPEX After significant reduction in costs in 2016, maintained G&A Capital requirement for 2018 drilling and expansion not and OPEX year-on-yea

  10. Slide 10: Cash Flow, Liquidity & Receivables

    Cash Flow, Liquidity & Receivables Free Cash Flow (million USD)  $608 million cash – highest in ten years 465 450 413  Positive FCF – principally due to KRI Settlement payment; industry payment in Egypt; regular monthly payments in KRG 203 181 and low capital expenditure 200 112 82 52  Kurdistan

  11. Slide 11: 3. Country Performance

    3. Country Performance

  12. Slide 12: Egypt: Strong production

    Egypt: Strong production  El Wastani Gas Plant El Wastani • Successful shutdown in Q2 South Abu El Naga • South Faraskur Compression completed – added 5mmscf/d  Block 1: 2 to 4 well drilling program • 1st well uncommercial – P&A • 2nd well spudded. • Opportunities for 3rd & 4th wells evaluated  B

  13. Slide 13: KRI: Initiated expansion plans

    KRI: Initiated expansion plans DG share of production averaged 25,750 boepd during 2017.  300 (2016: 307) MMscfd of natural gas  12,885 (2016: 13,270) bbl/d of condensate  914 (2016: 826) MT/d of LPG Settlement – in numbers Targeted production increase by 20% in 2018 and 170% within two to three

  14. Slide 14: UAE

    UAE  Producing gas since February 2016  Production rate of Sharjah-2 well has declined from 2,700 boepd FY16 to 1,650 boepd FY17  Detailed modelling of future performance conclude not all reservoir is productive with today’s technology  Re-classify a portion of 2P reserve to contingent resource

  15. Slide 15: Arbitration & Sukuk Update

    Arbitration & Sukuk Update MOL (Pearl Petroleum shareholder)  MOL expressing dissatisfaction with outcome – wanted to renegotiate terms with Pearl (namely certain contingent payments)  Initiated proceedings in The London Court of International Arbitration  Hearing set for November 2018 UAE Gas Pr

  16. Slide 16: 4. Summary

    Ly 4. Seomary ff i

  17. Slide 17: Summary

    Summary Settlement Agreement with the KRG with win-win outcome 1 representing billions of dollars of additional value to DG Solid operational performance in all areas despite political 2 challenges and maintenance shutdowns Future development of world-class assets in Kurdistan to 3 more than double

  18. Slide 18: 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

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