Dana Gas PJSC · ADX:DANA

Dana Gas PJSC — FY2016 Earnings Presentation

20 slides from Dana Gas PJSC's earnings presentation, Feb 9, 2017

  1. Slide 1: Clean Energy for the Future: FY 2016 Preliminary Financial Results

    Clean Energy for the Future FY 2016 – Preliminary Financial Results 9 February 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 Headlines 2 Financial Update 3 Country Performance 4 Summary

  4. Slide 4: 1. Headlines

    1. Headlines

  5. Slide 5: Key Takeaway

    Key Takeaway Operations Financials  Group production up 5% to 67,050 boepd  Company maintained profitability at $33m despite lower  Q4 Egypt production up 31% realized prices and currency devaluation charge  2P reserves increased to 132 Mmboe - 115% 2P reserve  Continued successful cost reducti

  6. Slide 6: 2. Financial Update

    2. Financial Update

  7. Slide 7: Financial Highlights

    Financial Highlights Gross Revenue (million USD) EBITDA (million USD) 500 417 250 232 392 207 400 200 300 150 200 89 100 112 64 93 100 50 0 0 Q4 2015 2016 FY Q4 FY 2015 2016 Gross Profit (million USD) Net Profit (million USD) 150 144 150 134 126 103 100 100 50 40 50 29 33 7 0 0 Q4 FY Q4 FY 2015 2016

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

    Production & Realized Prices (boepd) Q4 2016 Vs Q4 2015 FY 2016 Vs FY 2015 67,050 63,900 69,500 FY 2015 60,300 Q4 2015 FY 2016 Q4 2016 37,600 40,500 33,900 29,300 30,900 26,000 28,800 26,200 2,700 700 750 0 0 2,100 600 700 Group Egypt KRI UAE EBGDCO Group Egypt KRI UAE EBGDCO Average Realized FY15 V

  9. Slide 9: CAPEX & OPEX

    CAPEX & OPEX G&A / OPEX (million USD) CAPEX (million USD) G&A OPEX 55 56 52 234 122 122 28 23 13 2014 2015 2016 2014 2015 2016 G&A / OPEX CAPEX Reduced operating expense and G&A  Capex reduced by 48% in 2016  G&A 43% lower  All non-critical capex deferred in Egypt  OPEX 7% lower GPEA – all annua

  10. Slide 10: Liquidity and Debt

    Liquidity and Debt Gross Debt & Cash Balance (million USD) Sukuk History (millions) 884 Converted $73m 804 $1,000 777 $920 $920 $920 $920 Bought back $850 $850 $27m $1bn, 5-yr Ordinary 542 502 Sukuk issued @ 7.5% $777 414 $750 470 $700 Refinancing - redeemed $70m; Issued $850m; dual tranche 5-yr Suk

  11. Slide 11: Receivables & Collections

    Receivables & Collections 31 December 2016, total trade receivables is $982 million Egypt Kurdistan 300 Billing 140% 300 Billing 140% 129% Collection Collection 121% % % 120% 120% 225 111% 225 100% 100% Millions ($) Millions ($) 80% 80% 150 64% 150 60% 60% 40% 40% 75 75 30% 20% 14% 20% 173 210 113 1

  12. Slide 12: 3. Country Performance

    3. Country Performance

  13. Slide 13: Egypt: strength in numbers and progress

    Egypt: strength in numbers and progress  Sustaining production at maximum plant South Abu capacity of 40,000 boepd El Naga  Mocha-1 well in primary objective and under evaluation  GPEA program delivered successfully with 19 wells successfully drilled South El Manzala  5 exploration, 9 developmen

  14. Slide 14: Egypt: Growth potential

    Egypt: Growth potential  BP-operated Mocha-1 (Block 3) reaching target Mocha-1 depth  Discovered wet-gas in the Messinian M90 formation during drilling  Primary interval at 5400+ m under evaluation  North El Arish (Block 6)  Substantial and material prospect inventory developed  Plans underway

  15. Slide 15: Kurdistan

    Kurdistan  DG share of production averaged 26,000 boepd during 2016.  307 (2015: 311) MMscfd of natural gas  13,270 (2015: 13,597) bbl/d of condensate  826 (2015: 734) MT/d of LPG  Operation have remained steady throughout the quarter. Chemchemal Khor Mor 15

  16. Slide 16: UAE

    UAE  Producing gas since February 2016.  Production rate of Sharjah-2 well has declined from 2,650 boepd Q3 to 2,100 boepd Q4 2016  Q4 workover deferred  Further studies ongoing to review possible well intervention program and to determine what additional other work may be required to have an im

  17. Slide 17: Arbitration Update

    Arbitration Update  Kurdistan Region of Iraq  Sept 2016 LCIA heard remaining contractual issues  In limine issues concerning Consortium damage claims and KRG counterclaims  Minor damages and losses claims by the Claimants  Judgements expected shortly  Quantum hearing expected in Q3 2017  KRG

  18. Slide 18: 4. Summary

    Ly 4. Seomary ff i

  19. Slide 19: Summary

    Summary 1 Operations and cost efficiencies strong; collections weak Potential for exciting medium-term opportunities in Egypt 2 and development of world class assets in Kurdistan Strong production with further supply expected to come 3 on-stream in 2017 Short-to-mid term priorities are managing for

  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

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