DISCOVERING HIDDEN VALUE

Transcription

1 DISCOVERING HIDDEN VALUE The initial public offering of the Company was sponsored by CLSA Singapore Pte Ltd and Merrill Lynch (Singapore) Pte. Ltd. (the Joint Issue Managers, Global Coordinators, Bookrunners and Underwriters ). The Joint Issue Managers, Global Coordinators, Bookrunners and Underwriters assume no responsibility for the contents of this announcement.

2 KrisEnergy Ltd. is an independent oil and gas company engaged in the exploration, appraisal, development and production of hydrocarbon resources in Southeast Asia. Our vision is to become the leading independent upstream oil and gas company in Asia. Our strategy is to acquire rigorously selected assets in geological basins where we have extensive technical knowledge garnered through decades of experience. Our approach is to build a portfolio of assets across each stage of the exploration-to-production life cycle and to spread our exposure to political and fiscal risks by operating in several countries with different taxation regimes and regulations. We aim to balance our production between oil and gas, the latter being under longterm supply contracts in Asia and less vulnerable to sharp swings in global commodity prices.

3 KEY FACTS Established in 2009, listed on the Mainboard of Singapore Exchange Securities Trading Ltd. in July 2013 (ticker symbol SK3) OPERATOR EXPERIENCE Onshore and offshore All technical work undertaken in-house REGIONAL REACH, FULLY STAFFED OFFICES Bangkok, Thailand Dhaka, Bangladesh Ho Chi Minh City, Vietnam Jakarta, Indonesia Phnom Penh, Cambodia Singapore RESERVES & CONTINGENT RESOURCES 2P reserves mmboe 2 2C resources mmboe 2 DIVERSE PORTFOLIO 19 contract areas Operator of 12 blocks 5 countries Oil and gas reserves and contingent resources Oil and gas producing assets, development projects, appraisal targets and exploration prospects PRODUCTION Average 2014 working interest production was 7,612 barrels of oil equivalent ( boepd ) The Kambuna gas-condensate field in Indonesia reached the end of its economic life as expected and ceased production on 11 July ,000 (mmboe) (boepd) 6,000 4, , P reserves 2C development pending 2C development unclarified Glagah-Kambuna TAC B8/32 and B9A Block 9 1 2P reserves refers to proved plus probable reserves and 2C resources refers to best estimate contingent resources, in accordance with the definitions and guidelines set forth in the 2007 Petroleum Resources Management System approved by the Society of Petroleum Engineers 2 2P reserves and 2C resources are based on estimates by Netherland, Sewell & Associates, Inc. ( NSAI ) as at 31 December 2014

4 DEPTH & BREADTH OF DIVERSIFICATION Our portfolio comprises 19 contract areas, of which we operate 12, in five countries

5 FOCUS AREA Our target area stretches from the Surma Basin in Bangladesh in the West to the Papuan Basin in the East, and from offshore southern China in the North to Indonesia in the South. ONSHORE & OFFSHORE BANGLADESH SUMATRA GULF OF THAILAND/ OFFSHORE CAMBODIA OFFSHORE VIETNAM OFFSHORE EAST JAVA OFFSHORE EAST KALIMANTAN ONSHORE WEST PAPUA

6 Our activities include all facets of exploration, appraisal, development and production Offshore seismic acquisition 3D geological model for Bangora KrisEnergy acquired its first assets, a 25% working interest each in G10/48 and G11/48, in November As at October 2014, our portfolio comprised 19 contract areas in five countries. This growth has been achieved through a variety of direct awards from governments, farm-in deals and asset and/or corporate acquisitions. Our portfolio may be considered in five distinct strands each falling under one of the activities in the exploration and production ( E&P ) life cycle and defined in our reserves and resources inventory: PRODUCTION: Our production and the bulk of our 2P reserves come from the Bangora gas field in Block 9 onshore Bangladesh, and the B8/32 and B9A oil and gas complex in the Gulf of Thailand. We also derive 2P reserves from the Nong Yao oil field in G11/48, which is under development and anticipated to come on stream in DEVELOPMENT PENDING: Nong Yao will be the first of seven developments we intend to bring into production over the next four years to underpin our growth. The other development projects Wassana (G10/48), Rossukon (G6/48), Apsara (Cambodia Block A), Lengo gas (Bulu PSC and East Muriah PSC), Alur Rambong (Block A Aceh), and gas in the Kutai PSC provide 2C resources in the development pending category. The Wassana field is expected to produce first oil in DEVELOPMENT UNCLARIFIED: Our 2C resources categorised as development unclarified are discoveries that require additional technical work and appraisal drilling that may mature the discovery into development pending. Several of our contract areas G10/48, G11/48, Cambodia Block A, Block 9, Tanjung Aru PSC, and Block A Aceh all contain discoveries with associated 2C resources in this classification. Further exploration and appraisal work is ongoing. EXPLORATION: Our exploration portfolio provides the fourth strand of our strategy. We strive to achieve a balance of oil and gas opportunities and high and moderate risk prospects. All of our blocks, including those with production or development, contain exploration prospects and leads. In addition, we have some licences that have seen little by way of exploration activity. These contain multiple prospects and would rank as higher exploration risk but provide the potential for large-scale hydrocarbon discovery. NEW VENTURES: Our organic growth comes from adding assets into the exploration portfolio and requires our geoscientists to work up exploration concepts and be successful in finding an entry point into acreage. For transaction-based arrangements, we will look at opportunities at other stages of the E&P value chain, for example to provide additional development projects or production, however, we generally require such assets to have exploration potential.

7 RESERVES & CONTINGENT RESOURCES Drilling of the Lengo-2 appraisal well in the Bulu PSC KrisEnergy staff overseeing gas production at the Bangora gas field in Bangladesh mmboe 70.9 mmboe 50.7 mmboe 85.9 mmboe Total 2P reserves & 2C resources: (mmboe) Production/near production: 2P reserves (mmboe) Development pending 3 : 2C resources (mmboe) Development unclarified 3 : 2C resources (mmboe) 2P - reserves 2C - development pending 2C - development unclarified B8/32 & B9A Bangora, Block 9 Nong Yao, G11/48 Wassana, G10/48 Lengo, Bulu PSC G10/48 Platform A, Cambodia Block A Kutai Rossukon, G6/48 Block A Aceh East Muriah G10/48 G11/48 Platform B&C, Cambodia Block A Tanjung Aru Block A Aceh Block 9 * Totals may not be exact due to rounding

8 KEY FIGURES For the full-year ended 31 December 2014 REVENUE 74.9 mm EBITDAX mm krisenergy.com 34% 25.1 mm 49.8 mm 66% REALISED OIL SALES PRICE /bbl BANGLADESH NB Tower, Level 12 40/7, North Avenue Gulshan 2, Dhaka 1212 Bangladesh T: (880) F: (880) Cover image courtesy of JMJ Petroleum showing offshore Base Tertiary map defining the basins of the Gulf of Thailand, Natuna, Malaysia (Sarawak) and Southern Vietnam, with onshore elevation data 24% 17.8 mm LIFTING COST 57.1 mm 76% 6.91/boe /boe Earnings before interest, taxation, depreciation, amortisation, geological expenses and exploration expenses is a non-ifrs measure 5 Excludes Block 9 gas price, which remains fixed at 2.32/mcf /bbl REALISED GAS SALES PRICE 5.80/mcf /mcf CAMBODIA No. 28, Street 310 Sangkat Boeung Keng Kang 1 Khan Chamcar Monn Phnom Penh, P.O. Box 1619 Cambodia T: (855) F: (855) INDONESIA Talavera Office Park 3rd Floor, Jln. Let. Jend. TB. Simatupang, Kav Cilandak Jakarta T: (62) F: (62) SINGAPORE 83 Clemenceau Avenue #10-05, UE Square Singapore T: (65) F: (65) THAILAND 7F, Athenee Tower No. 63, Wireless Road Lumpini, Pathumwan Bangkok T: (66) F: (66) VIETNAM 19F, Bitexco Financial Tower No. 2, Hai Trieu Street Dist. 1 Ho Chi Minh City T: (84) F: (84)