The document provides an overview of Premier Oil's 2011 annual results presentation. It discusses key highlights from 2011 including increased production to 60,000 boepd, increased reserves and resources to 527 mmboe, and increased financial strength. The presentation outlines Premier's path to reaching 100,000 boepd of production from existing projects in its portfolio and provides operational and exploration updates.
1) The company reported strong financial results in the first quarter of 2012, with distributable cash flow up 30% compared to the same period in 2011.
2) It completed a $1.3 billion acquisition of Maersk LNG vessels in late February that expanded its fleet.
3) Japanese LNG imports increased 24% in the first quarter compared to the previous year due to all nuclear power plants being offline, leading to higher shipping rates and a positive outlook for the LNG shipping industry in 2012.
1) The document summarizes Teekay LNG Partners' first quarter 2012 earnings presentation. It reported a 30% increase in distributable cash flow from the same period last year.
2) It completed a $1.3 billion acquisition of Maersk LNG vessels in late February through a joint venture.
3) Strong LNG demand growth from Japan is leading to higher shipping rates in 2012 after Japan's nuclear plants were taken offline, increasing LNG imports.
4) Teekay LNG Partners has strong liquidity of $440 million as of March 31, 2012 and no near-term debt maturities, giving it a solid financial position.
The annual report summarizes Computacenter's financial performance in 2009. Key points include:
- Adjusted profit before tax increased 25.8% to £54.2 million.
- Net funds before customer specific financing increased £81.8 million to £86.4 million.
- The ERP implementation, a group-wide project, remained on plan and budget.
- Customers gave the company high and improved satisfaction ratings.
- The Chairman expresses satisfaction with progress made in 2009 focusing on profitability, working capital optimization, and cash flow while investing in people, processes, and systems.
How to reach the highest efficiency on state (country) level. Oded CohencommonsenseLT
This document discusses how to achieve the highest efficiency on a state or country level using the Theory of Constraints (TOC) approach. It provides an example of applying TOC concepts to significantly improve performance at a US Department of Defense maintenance center. Key results included increasing throughput, reducing costs and work in process, cutting repair cycle times, and achieving schedules over 90% of the time. The document argues that using TOC can help systems achieve their full potential within existing budget constraints by continuously improving performance.
What would you do if government suddenly became a really demanding client? Od...commonsenseLT
The document summarizes a presentation on using Theory of Constraints (TOC) and Critical Chain Project Management (CCPM) approaches to improve project delivery for contractors working with government/public sector clients. It discusses how CCPM introduces several injections including establishing on-time delivery as a key measurement, developing realistic project plans with buffers, and determining the critical chain to better manage resources and uncertainty. Case studies show CCPM achieving over 95% on-time delivery, reduced costs and lead times, and increased capacity and performance.
- Finning International provides mining and power systems solutions across Canada, South America, and the UK/Ireland.
- The company has a unique value proposition due to geographic and industry diversification, strong market positions, and a large installed equipment base that drives resilient product support revenue.
- Management is focused on operational excellence, disciplined growth, and balance sheet deleverage to achieve financial targets including sequential EBIT margin expansion, a return on equity over 18%, and strengthening the balance sheet.
Strategy & Tactics for State Owned Enterprises. Christoph LenhartzcommonsenseLT
The document discusses strategies and tactics for state-owned enterprises (SOEs). It notes that SOEs have financial, strategic, political, and social goals, such as controlling resources/infrastructure or providing essential non-profitable services. SOEs face the challenge of meeting growing demands with limited resources. They also navigate tensions between obligations to stakeholders like generating profits, paying dividends, and achieving strategic goals. The document advocates for SOEs to focus on satisfying stakeholders through excellence in operations, financial performance, and employee/customer satisfaction.
1) The company reported strong financial results in the first quarter of 2012, with distributable cash flow up 30% compared to the same period in 2011.
2) It completed a $1.3 billion acquisition of Maersk LNG vessels in late February that expanded its fleet.
3) Japanese LNG imports increased 24% in the first quarter compared to the previous year due to all nuclear power plants being offline, leading to higher shipping rates and a positive outlook for the LNG shipping industry in 2012.
1) The document summarizes Teekay LNG Partners' first quarter 2012 earnings presentation. It reported a 30% increase in distributable cash flow from the same period last year.
2) It completed a $1.3 billion acquisition of Maersk LNG vessels in late February through a joint venture.
3) Strong LNG demand growth from Japan is leading to higher shipping rates in 2012 after Japan's nuclear plants were taken offline, increasing LNG imports.
4) Teekay LNG Partners has strong liquidity of $440 million as of March 31, 2012 and no near-term debt maturities, giving it a solid financial position.
The annual report summarizes Computacenter's financial performance in 2009. Key points include:
- Adjusted profit before tax increased 25.8% to £54.2 million.
- Net funds before customer specific financing increased £81.8 million to £86.4 million.
- The ERP implementation, a group-wide project, remained on plan and budget.
- Customers gave the company high and improved satisfaction ratings.
- The Chairman expresses satisfaction with progress made in 2009 focusing on profitability, working capital optimization, and cash flow while investing in people, processes, and systems.
How to reach the highest efficiency on state (country) level. Oded CohencommonsenseLT
This document discusses how to achieve the highest efficiency on a state or country level using the Theory of Constraints (TOC) approach. It provides an example of applying TOC concepts to significantly improve performance at a US Department of Defense maintenance center. Key results included increasing throughput, reducing costs and work in process, cutting repair cycle times, and achieving schedules over 90% of the time. The document argues that using TOC can help systems achieve their full potential within existing budget constraints by continuously improving performance.
What would you do if government suddenly became a really demanding client? Od...commonsenseLT
The document summarizes a presentation on using Theory of Constraints (TOC) and Critical Chain Project Management (CCPM) approaches to improve project delivery for contractors working with government/public sector clients. It discusses how CCPM introduces several injections including establishing on-time delivery as a key measurement, developing realistic project plans with buffers, and determining the critical chain to better manage resources and uncertainty. Case studies show CCPM achieving over 95% on-time delivery, reduced costs and lead times, and increased capacity and performance.
- Finning International provides mining and power systems solutions across Canada, South America, and the UK/Ireland.
- The company has a unique value proposition due to geographic and industry diversification, strong market positions, and a large installed equipment base that drives resilient product support revenue.
- Management is focused on operational excellence, disciplined growth, and balance sheet deleverage to achieve financial targets including sequential EBIT margin expansion, a return on equity over 18%, and strengthening the balance sheet.
Strategy & Tactics for State Owned Enterprises. Christoph LenhartzcommonsenseLT
The document discusses strategies and tactics for state-owned enterprises (SOEs). It notes that SOEs have financial, strategic, political, and social goals, such as controlling resources/infrastructure or providing essential non-profitable services. SOEs face the challenge of meeting growing demands with limited resources. They also navigate tensions between obligations to stakeholders like generating profits, paying dividends, and achieving strategic goals. The document advocates for SOEs to focus on satisfying stakeholders through excellence in operations, financial performance, and employee/customer satisfaction.
Anglo American Preliminary Financial Results for 2011Anglo American
Chief Executive Cynthia Carroll and Finance Director René Médori present Anglo American's annual results for 2011 to analysts on 17 February 2012 in London.
You can find out more about Anglo American here:
http://www.angloamerican.com/
http://www.facebook.com/angloamerican
http://www.twitter.com/angloamerican
http://www.youtube.com/angloamerican
http://www.flickr.com/photos/angloamerican
http://www.linkedin.com/company/anglo-american
Marathon Oil Corporation reported financial results for the fourth quarter and full year of 2008. For Q4 2008, Marathon reported a net loss of $41 million compared to net income of $668 million in Q4 2007. For the full year 2008, Marathon reported net income of $3.528 billion compared to $3.956 billion in 2007. Marathon's upstream production grew 14% in Q4 2008 and 8% for the full year, driven by new production from fields in Norway and the Gulf of Mexico. Marathon also increased its oil and gas reserves by 110 million barrels of oil equivalent in 2008.
spectra energy 2Q_2007_SpectraEnergyEarningsfinance49
Spectra Energy reported second quarter 2007 earnings. While ongoing EPS was consistent with expectations, some business segments experienced challenges. US Transmission and Distribution results were solid, but Western Canada was affected by plant turnarounds and Field Services by weather. The company is optimistic about achieving 2007 financial goals and remains committed to delivering steady growth and attractive dividends.
Marathon Oil Corporation reported first quarter 2008 net income of $731 million, slightly lower than the first quarter of 2007. Adjusted net income excluding special items was $767 million, up 9% from the prior year. Upstream and integrated gas segments performed strongly due to higher hydrocarbon prices and production volumes. Downstream results were negatively impacted by lower refining margins and planned maintenance. The company continued share repurchases and major project work during the quarter.
liberty global 98D59FD4-AEFE-4E07-94BE-1D6D7EDB882C_Q4_2008_Presentation_FINALfinance43
This document provides a summary of Liberty Global's fiscal 2008 investor call held on February 24, 2009. It discusses Liberty Global's 2008 financial highlights including strong organic growth, opportunistic M&A activity, and a stable balance sheet and liquidity. Key metrics such as operating cash flow growth, margin expansion, and free cash flow growth are reviewed. Liberty Global's 2009 operating outlook targets continued growth in operating cash flow, operating cash flow margin expansion, and at least 25% free cash flow growth. Regional performance and trends in revenue, operating cash flow, and margins are also summarized.
Teekay Offshore Partners Third Quarter 2012 Earnings PresentationAltera Infrastructure
- Teekay Offshore generated distributable cash flow of $38.6 million in Q3 2012 and declared a cash distribution of $0.5125 per unit.
- They agreed to acquire the Voyageur Spirit FPSO from Teekay Corporation for $540 million, which is expected to generate $70 million in annual cash flow and increase cash distributions in Q1 2013.
- They also agreed to acquire a HiLoad DP offshore loading unit from Remora AS for $55 million, subject to securing a 10-year charter with Petrobras, which would be accretive to distributable cash flow per share.
This document summarizes Dana Holding Corporation's second quarter 2008 conference call that took place on August 7, 2008. The presentation discusses Dana's financial results for the second quarter of 2008, including lower profits impacted by rising steel costs and lower North American production volumes. It also provides updates on Dana's response plans to address issues in its North American operations and cost reductions. Key priorities discussed include offsetting steel costs, rightsizing North American automotive operations, and executing the strategic plan.
- The company reported record sales of $4.5 billion in 2005, an 8% increase over 2004. Operating income increased 11% to $542 million.
- Raw material costs increased significantly which posed a challenge, but the company effectively managed these rising costs.
- The company expects higher raw material and freight costs to continue impacting operating income in 2006 and presents an ongoing challenge.
This document is CLP Holdings' annual report for 2008. It includes the following sections: Financial Highlights, Chairman's Statement, Directors and Senior Management, CEO's Review, and others.
The Chairman's Statement discusses CLP's financial performance in 2008, noting operating earnings increased 4.6% to HK$9.7 billion while total earnings declined only 1.7% to HK$10.4 billion despite a significant reduction in permitted returns from the Hong Kong electricity business under a new Scheme of Control agreement. The Board recommended a final dividend of HK$0.92 per share, maintaining the total dividend at HK$2.48 per share.
The Chairman focuses on political and regulatory
The document discusses Duke Energy Corporation's use of non-GAAP financial measures in its First Quarter 2007 Earnings Review presentation. Specifically, it discusses measures such as ongoing diluted EPS, ongoing segment EBIT, and expected ongoing diluted EPS growth rates which exclude special items that management believes are not recurring. It provides reconciliations of these non-GAAP measures to the most directly comparable GAAP measures for previous periods to facilitate understanding of the non-GAAP information.
The document provides an overview of a company's 2Q12 and 1H12 results. It discusses financial performance including revenues, gross profit, EBITDA margins, and contributions by brand. Key highlights include consolidated revenues reaching $1.97 billion for 1H12, gross profit of $470.8 million for 1H12 representing a 24% margin, and EBITDA of $253.9 million for 1H12 representing a 13% margin. Legacy projects with lower margins are expected to be delivered in the short to mid-term, impacting overall margins.
Highlights of the third quarter of 2011. Net sales amounted to SEK 25,650m (26,326) and income for the period was SEK 825m (1,381), or SEK 2.90 (4.85) per share. Net sales increased by 2.2% in comparable currencies and including one month of sales from Olympic Group, mainly as a result of higher sales volumes.
The document summarizes JBS's consolidated results for 2008. It shows that JBS reduced its net debt to EBITDA ratio from 3.74x in 2007 to 1.95x in 2008 through an intense deleveraging process. Net revenue increased 114.5% to R$30.3 billion while EBITDA grew 95.6% to R$1.156 billion. JBS also proposed a threefold increase in dividend distribution to R$51.1 million. The company integrated several major acquisitions to grow its global production platform.
The document discusses several non-GAAP financial measures used by Duke Energy to measure performance, including:
1) Ongoing diluted EPS, which adjusts reported diluted EPS from continuing operations for special items to measure performance against employee incentive targets.
2) Anticipated ongoing EPS growth percentages, which adjust diluted EPS from continuing operations for special items to forecast future EPS growth.
3) Ongoing segment EBIT, which adjusts reported segment EBIT for special items to forecast performance at the business segment level.
Reconciliations of these non-GAAP measures to the most directly comparable GAAP measures are not provided due to the inability to forecast special items.
Container Grey Box Concept Corporate Paper May 2010rab2020
The document discusses a new container sale and leaseback program being developed by IMS Ltd. and Intellect Technologies. The program would have a new holding company purchase container fleets from carriers and then lease them back at competitive rates. This improves carriers' financial positions while providing a neutral third party alternative to existing container leasing companies. The program aims to generate revenue through container leasing fees and additional consulting/software services offered to carrier clients. Financial projections estimate the program would become profitable within 2 years and generate millions in cumulative profits over several years of operations.
The company reported a 2.5% increase in energy consumption in 2Q12. Revenues increased 2.8% to R$3.8 billion due to growth in residential and commercial classes. However, EBITDA declined 53.6% to R$244 million due to a 16.3% increase in energy costs. Net income fell 77.8% to R$57 million, impacted by higher energy prices and lower financial results. Operational improvements led to reductions in SAIDI and SAIFI indices. The company continues its efficiency programs to control costs.
This document provides reconciliations between Duke Energy Corporation's ("Duke Energy") non-GAAP financial measures and the most directly comparable GAAP measures for various periods. It discusses Duke Energy's use of "ongoing" measures which exclude special items that management believes are not recurring, such as gains, losses and impairment charges. The document also references Duke Energy's expectation to achieve ongoing EPS targets and segment earnings growth rates through 2012.
Pace Oil & Gas is an intermediate-sized energy company focused on growth through oil development. In 2011, oil production grew over 100% and drove a 53% increase in total production. The company has a large inventory of development opportunities across its high working interest asset base that can deliver continued production and reserve growth. Pace trades at a discount to peers despite solid operational performance and visible growth, representing underlying value for investors.
Abengoa presented its 2011 earnings and provided an outlook for 2012. Key highlights included:
- Revenues increased 46% to 7,089 million euros and EBITDA grew 36% to 1,103 million euros in 2011.
- The company's backlog remained strong at 7.5 billion euros at the end of 2011.
- Abengoa is diversifying its business across regions and sectors through new projects in the solar, transmission, and water industries.
- The company aims to further reduce debt and continue growing through international expansion in 2012.
Cabo Drilling Corp is a drilling services company that provides drilling rigs and services to mining companies. It acquired five drilling companies between 2004-2005. The presentation provides an overview of Cabo's business including its revenues from 2008-2012, fleet size, international operations, financial position, and goals to improve profitability through cost controls and expanding capacity. Cabo aims to take advantage of strong demand in the mining industry and growing metals prices.
Anglo American Preliminary Financial Results for 2011Anglo American
Chief Executive Cynthia Carroll and Finance Director René Médori present Anglo American's annual results for 2011 to analysts on 17 February 2012 in London.
You can find out more about Anglo American here:
http://www.angloamerican.com/
http://www.facebook.com/angloamerican
http://www.twitter.com/angloamerican
http://www.youtube.com/angloamerican
http://www.flickr.com/photos/angloamerican
http://www.linkedin.com/company/anglo-american
Marathon Oil Corporation reported financial results for the fourth quarter and full year of 2008. For Q4 2008, Marathon reported a net loss of $41 million compared to net income of $668 million in Q4 2007. For the full year 2008, Marathon reported net income of $3.528 billion compared to $3.956 billion in 2007. Marathon's upstream production grew 14% in Q4 2008 and 8% for the full year, driven by new production from fields in Norway and the Gulf of Mexico. Marathon also increased its oil and gas reserves by 110 million barrels of oil equivalent in 2008.
spectra energy 2Q_2007_SpectraEnergyEarningsfinance49
Spectra Energy reported second quarter 2007 earnings. While ongoing EPS was consistent with expectations, some business segments experienced challenges. US Transmission and Distribution results were solid, but Western Canada was affected by plant turnarounds and Field Services by weather. The company is optimistic about achieving 2007 financial goals and remains committed to delivering steady growth and attractive dividends.
Marathon Oil Corporation reported first quarter 2008 net income of $731 million, slightly lower than the first quarter of 2007. Adjusted net income excluding special items was $767 million, up 9% from the prior year. Upstream and integrated gas segments performed strongly due to higher hydrocarbon prices and production volumes. Downstream results were negatively impacted by lower refining margins and planned maintenance. The company continued share repurchases and major project work during the quarter.
liberty global 98D59FD4-AEFE-4E07-94BE-1D6D7EDB882C_Q4_2008_Presentation_FINALfinance43
This document provides a summary of Liberty Global's fiscal 2008 investor call held on February 24, 2009. It discusses Liberty Global's 2008 financial highlights including strong organic growth, opportunistic M&A activity, and a stable balance sheet and liquidity. Key metrics such as operating cash flow growth, margin expansion, and free cash flow growth are reviewed. Liberty Global's 2009 operating outlook targets continued growth in operating cash flow, operating cash flow margin expansion, and at least 25% free cash flow growth. Regional performance and trends in revenue, operating cash flow, and margins are also summarized.
Teekay Offshore Partners Third Quarter 2012 Earnings PresentationAltera Infrastructure
- Teekay Offshore generated distributable cash flow of $38.6 million in Q3 2012 and declared a cash distribution of $0.5125 per unit.
- They agreed to acquire the Voyageur Spirit FPSO from Teekay Corporation for $540 million, which is expected to generate $70 million in annual cash flow and increase cash distributions in Q1 2013.
- They also agreed to acquire a HiLoad DP offshore loading unit from Remora AS for $55 million, subject to securing a 10-year charter with Petrobras, which would be accretive to distributable cash flow per share.
This document summarizes Dana Holding Corporation's second quarter 2008 conference call that took place on August 7, 2008. The presentation discusses Dana's financial results for the second quarter of 2008, including lower profits impacted by rising steel costs and lower North American production volumes. It also provides updates on Dana's response plans to address issues in its North American operations and cost reductions. Key priorities discussed include offsetting steel costs, rightsizing North American automotive operations, and executing the strategic plan.
- The company reported record sales of $4.5 billion in 2005, an 8% increase over 2004. Operating income increased 11% to $542 million.
- Raw material costs increased significantly which posed a challenge, but the company effectively managed these rising costs.
- The company expects higher raw material and freight costs to continue impacting operating income in 2006 and presents an ongoing challenge.
This document is CLP Holdings' annual report for 2008. It includes the following sections: Financial Highlights, Chairman's Statement, Directors and Senior Management, CEO's Review, and others.
The Chairman's Statement discusses CLP's financial performance in 2008, noting operating earnings increased 4.6% to HK$9.7 billion while total earnings declined only 1.7% to HK$10.4 billion despite a significant reduction in permitted returns from the Hong Kong electricity business under a new Scheme of Control agreement. The Board recommended a final dividend of HK$0.92 per share, maintaining the total dividend at HK$2.48 per share.
The Chairman focuses on political and regulatory
The document discusses Duke Energy Corporation's use of non-GAAP financial measures in its First Quarter 2007 Earnings Review presentation. Specifically, it discusses measures such as ongoing diluted EPS, ongoing segment EBIT, and expected ongoing diluted EPS growth rates which exclude special items that management believes are not recurring. It provides reconciliations of these non-GAAP measures to the most directly comparable GAAP measures for previous periods to facilitate understanding of the non-GAAP information.
The document provides an overview of a company's 2Q12 and 1H12 results. It discusses financial performance including revenues, gross profit, EBITDA margins, and contributions by brand. Key highlights include consolidated revenues reaching $1.97 billion for 1H12, gross profit of $470.8 million for 1H12 representing a 24% margin, and EBITDA of $253.9 million for 1H12 representing a 13% margin. Legacy projects with lower margins are expected to be delivered in the short to mid-term, impacting overall margins.
Highlights of the third quarter of 2011. Net sales amounted to SEK 25,650m (26,326) and income for the period was SEK 825m (1,381), or SEK 2.90 (4.85) per share. Net sales increased by 2.2% in comparable currencies and including one month of sales from Olympic Group, mainly as a result of higher sales volumes.
The document summarizes JBS's consolidated results for 2008. It shows that JBS reduced its net debt to EBITDA ratio from 3.74x in 2007 to 1.95x in 2008 through an intense deleveraging process. Net revenue increased 114.5% to R$30.3 billion while EBITDA grew 95.6% to R$1.156 billion. JBS also proposed a threefold increase in dividend distribution to R$51.1 million. The company integrated several major acquisitions to grow its global production platform.
The document discusses several non-GAAP financial measures used by Duke Energy to measure performance, including:
1) Ongoing diluted EPS, which adjusts reported diluted EPS from continuing operations for special items to measure performance against employee incentive targets.
2) Anticipated ongoing EPS growth percentages, which adjust diluted EPS from continuing operations for special items to forecast future EPS growth.
3) Ongoing segment EBIT, which adjusts reported segment EBIT for special items to forecast performance at the business segment level.
Reconciliations of these non-GAAP measures to the most directly comparable GAAP measures are not provided due to the inability to forecast special items.
Container Grey Box Concept Corporate Paper May 2010rab2020
The document discusses a new container sale and leaseback program being developed by IMS Ltd. and Intellect Technologies. The program would have a new holding company purchase container fleets from carriers and then lease them back at competitive rates. This improves carriers' financial positions while providing a neutral third party alternative to existing container leasing companies. The program aims to generate revenue through container leasing fees and additional consulting/software services offered to carrier clients. Financial projections estimate the program would become profitable within 2 years and generate millions in cumulative profits over several years of operations.
The company reported a 2.5% increase in energy consumption in 2Q12. Revenues increased 2.8% to R$3.8 billion due to growth in residential and commercial classes. However, EBITDA declined 53.6% to R$244 million due to a 16.3% increase in energy costs. Net income fell 77.8% to R$57 million, impacted by higher energy prices and lower financial results. Operational improvements led to reductions in SAIDI and SAIFI indices. The company continues its efficiency programs to control costs.
This document provides reconciliations between Duke Energy Corporation's ("Duke Energy") non-GAAP financial measures and the most directly comparable GAAP measures for various periods. It discusses Duke Energy's use of "ongoing" measures which exclude special items that management believes are not recurring, such as gains, losses and impairment charges. The document also references Duke Energy's expectation to achieve ongoing EPS targets and segment earnings growth rates through 2012.
Pace Oil & Gas is an intermediate-sized energy company focused on growth through oil development. In 2011, oil production grew over 100% and drove a 53% increase in total production. The company has a large inventory of development opportunities across its high working interest asset base that can deliver continued production and reserve growth. Pace trades at a discount to peers despite solid operational performance and visible growth, representing underlying value for investors.
Abengoa presented its 2011 earnings and provided an outlook for 2012. Key highlights included:
- Revenues increased 46% to 7,089 million euros and EBITDA grew 36% to 1,103 million euros in 2011.
- The company's backlog remained strong at 7.5 billion euros at the end of 2011.
- Abengoa is diversifying its business across regions and sectors through new projects in the solar, transmission, and water industries.
- The company aims to further reduce debt and continue growing through international expansion in 2012.
Cabo Drilling Corp is a drilling services company that provides drilling rigs and services to mining companies. It acquired five drilling companies between 2004-2005. The presentation provides an overview of Cabo's business including its revenues from 2008-2012, fleet size, international operations, financial position, and goals to improve profitability through cost controls and expanding capacity. Cabo aims to take advantage of strong demand in the mining industry and growing metals prices.
The document is a presentation of BG Group's 2012 results. It provides highlights such as a 4% increase in total operating profit to $8.047 billion, with upstream profit of $5.464 billion. It discusses financial results, strategic priorities for 2013 including production delivery and major project milestones. Key capital expenditure projects are outlined along with a $10.4 billion cash capex budget and $8.1 billion in portfolio rationalization by end of 2013. Safety and operational performance are reviewed along with 2013 production outlook of 630-660 kboed.
Andrew Wiswell, NAL Energy's President and CEO, presents at the CIBC 2012 Whistler Institutional Investor Conference at Whistler, B.C., at 8 a.m. PST (9 a.m. MST, 11 a.m. EST).
Braskem reported financial results for 4Q12 and full year 2012. For 4Q12, Braskem's EBITDA was R$1.4 billion including gains from asset sales, and net revenue was R$9.2 billion. For 2012, Braskem's EBITDA was R$4 billion including non-recurring items, and the company expanded its market share in Brazil to 71% on thermoplastic resin sales of 3.5 million tons. Braskem also made progress on projects in Mexico and Comperj while maintaining its commitment to financial health.
The document provides an investor update on AkzoNobel's Q3 2012 results. It includes the following key information:
1) EBITDA was up 7% at €540 million despite a 3% decline in volumes primarily due to the economic slowdown in Europe. Revenue was up 6% mainly driven by currencies and pricing actions.
2) A €2.5 billion impairment charge related to Decorative Paints intangible assets resulted in a net loss of €2.4 billion for the quarter. Adjusted EPS was €1.01.
3) The performance improvement program is on track but the economic environment remains a principal sensitivity given the continued weak demand and cautious customer ordering patterns.
A presentation used during the Feb 19, 2013 earnings phone call to present relevant details about NiSource's 2012 results, and to forecast plans for 2013 and beyond.
This document summarizes Northrop Grumman's Q3 2008 financial results. It highlights increases in sales, earnings per share, cash from operations, and new business awards compared to Q3 2007. The CEO also notes share repurchases, a record backlog, opportunities for growth, and raised guidance for full year EPS. Updates are provided on major defense programs and milestones. The CFO discusses the company's liquidity, risk mitigation efforts, and negotiating better contracts. Projections for full year 2008 sales, margins, cash flow, and earnings are included. Potential impacts of market declines on 2009 pension expenses are also estimated.
This document summarizes Northrop Grumman's Q3 2008 financial results. It highlights increases in sales, earnings per share, cash from operations, and new business awards compared to Q3 2007. The CEO also notes share repurchases, a record backlog, opportunities for growth, and raised guidance for full year EPS. Updates are provided on major defense programs and milestones. The CFO discusses the company's liquidity, risk mitigation efforts, and negotiating better contracts. Projections for full year 2008 sales, margins, cash flow, and earnings are included. Potential impacts of market declines on 2009 pension expenses are also estimated.
This document summarizes Northrop Grumman's Q3 2008 financial results. It highlights increases in sales, earnings per share, cash from operations, and new business awards compared to Q3 2007. The CEO also notes share repurchases, a record backlog, opportunities for growth, and raised guidance for full year EPS. Updates are provided on major defense programs and milestones. The CFO discusses the company's liquidity, risk mitigation efforts, and negotiating better contracts. Projections for full year 2008 sales, margins, cash flow, and earnings are included. Potential impacts of market declines on 2009 pension expenses are also estimated.
The document summarizes Credit Suisse's financial results for the first quarter of 2003. Key points include:
- Credit Suisse reported a net profit of CHF 652 million, compared to a net loss of CHF 950 million in the previous quarter.
- Credit Suisse Financial Services saw a net profit increase of 13% compared to the first quarter of 2002, driven by improved results across all business segments.
- Credit Suisse First Boston returned to profitability with a net operating profit of USD 292 million, up from USD 11 million the previous quarter, due to higher fixed income revenues and lower credit provisions.
1. EDB launched an improved business with aligned and coordinated capabilities, including a new powerful consulting unit and simplified legal structure represented by a new logo.
2. The company saw positive revenue trends after a challenging 2009, with revenue of 1,824 million NOK (a 5% year-over-year decrease) and improved EBITA margins of 7.4%.
3. EDB secured future business with 1.3 billion NOK in new signings for the quarter and an order backlog of 12.1 billion NOK across business areas including IT Operations, Solutions, and Consulting.
Ferrovial reported 2012 full year results with the following highlights:
1) Operating cash flow increased 78% to €909 million, 43% coming from infrastructure project dividends.
2) Value from divestitures exceeded expectations, including 16.34% from HAH and record multiples for Stansted and Edinburgh airports.
3) Net cash position increased 64% to €1,489 million with ample liquidity of €3.8 billion.
The document summarizes the 2012 interim financial results of an unnamed company. It reported a 15% increase in revenue and 25% increase in trading profit compared to 2011. Net profit increased 27% year-over-year. The company also completed an acquisition of Poit Energia during the period. While order intake and certain segments performed strongly, the company took a $25 million provision for bad debts in its IPP business and saw continued weakness in certain areas.
Ferrovial reported its 2011 full year results. The document contained forward-looking statements that are based on estimates and assumptions, and are subject to risks and uncertainties. Analysts and investors are cautioned not to place undue reliance on forward-looking statements.
Ferrovial had a strong year of cash generation, debt reduction, and divestments. Key highlights included over €1.4 billion in cash flow excluding infrastructure projects, a net cash position of €907 million excluding projects, and value obtained from divestments exceeding market expectations. Business units reported revenue and EBITDA growth across most segments.
Looking ahead, Ferrovial is well positioned with a strong balance sheet and liquidity.
Presentación de Resultados Ferrovial 2011Ferrovial
Ferrovial reported its 2011 full year results. The document contained forward-looking statements that are based on estimates and assumptions, and are subject to risks and uncertainties. Analysts and investors are cautioned not to place undue reliance on forward-looking statements.
Ferrovial had a strong year of cash generation, debt reduction, and divestments. Key highlights included over €1.4 billion in cash flow excluding infrastructure projects, a net cash position of €907 million excluding projects, and value obtained from divestments exceeding market expectations. Business units reported revenue and EBITDA growth across most segments. Ferrovial is well positioned with a strong balance sheet and liquidity to invest in future growth opportunities
PA Resources reported lower production and revenue in Q2 2012 compared to Q1 due to lower oil prices and production. Net debt was reduced to SEK 3.5 billion. Capex remains on forecast at SEK 53 million for 1H 2012. Operations updates provided for Denmark, Tunisia, Congo and Egypt assets. An Azurite sidetrack in Congo is imminent to restore lost production.
Honeywell provided its 2009 outlook, with consolidated sales expected to be $33.6-$35.3 billion, down (8%)-(4%) from 2008. Segment profit is expected to be $4.4-$4.8 billion, down (8%)-(0%) from 2008. EPS is forecast at $3.20-$3.55, down (15%)-(6%) from 2008. Key assumptions include developed markets GDP declining (2%)-(1%) and emerging markets growing 7-8%. Productivity actions aim to generate $0.8 billion in savings through initiatives like functional transformation and the Honeywell Operating System.
Masco reported its financial results for the fourth quarter and full year of 2012. Key highlights included improved fourth quarter results that provided momentum heading into 2013, with sales growth driven by increased North American new home construction and successful new product introductions. All of Masco's business segments contributed to increased sales and operating margin growth in the fourth quarter. Masco also delivered on its strategic priorities for 2012, which included improving its cabinetry and installation service businesses, reducing debt, investing in growth, and gaining market share in key brands.
1. The document outlines Veolia Environnement's strategy to transform the company in response to changes in the global economic environment.
2. Veolia plans to refocus and deleverage the company through a €5 billion divestment program, streamline its organization through a convergence plan, and reduce costs through efficiency initiatives to improve financial flexibility.
3. The strategy aims to focus Veolia on providing value-added environmental solutions by treating difficult pollutants, managing public services efficiently, and contributing sustainable solutions to local challenges.
Presentation Clayton Valley, NevadaFrom Drilling to PEA in under 2 YearsCompany Spotlight
The document summarizes Cypress Development Corp's Clayton Valley lithium project in Nevada. Key points include:
- A Preliminary Economic Assessment shows promising economics including a 32.7% IRR and $1.45 billion NPV.
- Measured and indicated resources total 8.9 million tonnes LCE with additional inferred resources.
- The project has the potential for low-cost production due to favorable geology and metallurgy.
- Upcoming catalysts in 2019 include a metallurgical study and prefeasibility study to further de-risk the project.
Aben Resources has made a new high-grade gold discovery at its flagship Forrest Kerr project in BC's Golden Triangle region. The region is known for major gold deposits and saw $100 million in exploration spending in 2017. Recent improvements have made the Forrest Kerr project more accessible via new roads. Aben's technical team has reinterpreted historical data and identified additional exploration targets. The project covers over 23,000 hectares of prospective geology along the Forrest Kerr fault zone that is similar to other major deposits in the Golden Triangle.
Aben Resources has discovered high-grade gold zones at its Forrest Kerr project in British Columbia's Golden Triangle. The first hole of the 2018 drill program intersected four separate high-grade gold zones within 190 metres, including 331.0 g/t Au over 1.0 metre. Aben plans to expand drilling at the Boundary North Zone and test other gold anomalies identified through soil sampling. The company also holds the Justin project in Yukon and Chico project in Saskatchewan near recent discoveries.
Cypress Development Corp. owns lithium claims in Clayton Valley, Nevada near Albemarle's Silver Peak lithium mine. A preliminary economic assessment found the project could have a 32.7% IRR and $1.45 billion NPV. The project would extract lithium from claystone using leaching and have average annual production of 24,042 tonnes of lithium carbonate over 40 years. Capital costs are estimated at $482 million to build a 15,000 tonne per day operation.
The document discusses Aben Resources Ltd., a gold exploration company with projects in British Columbia's Golden Triangle region and other areas of Western Canada. It provides an overview of Aben's management team and directors, flagship Forrest Kerr project, recent drilling results showing new high-grade gold discoveries, and its strategy to advance exploration through 2018. The document also briefly outlines Aben's other projects including the Chico gold project in Saskatchewan and Justin gold project in Yukon.
Cypress Development Corp. owns the Clayton Valley lithium project in Nevada. Drilling in 2017 intersected lithium-bearing claystone averaging 921 ppm Li over 77 meters thick. A maiden resource estimate calculated 3.287 million tonnes of lithium carbonate equivalent in the indicated category and 2.916 million tonnes LCE in inferred. Metallurgical tests show the claystone is acid leachable and able to recover over 80% of the lithium. Cypress plans additional drilling, engineering studies, and permitting to advance the project towards production.
- Aben Resources has three highly prospective gold projects in Western Canada including its flagship Forrest Kerr Project in BC's Golden Triangle region, which had recent drilling success expanding the Boundary North Zone.
- Management has over 100 years of combined experience in Western Canada and a proven track record of success.
- The projects have significant historic work identifying high-grade gold and robust discovery potential remains.
Cypress Development Corp. owns the Clayton Valley lithium project in Nevada. Drilling in 2017 intersected lithium-bearing claystone averaging 921 ppm Li over 77 meters. A maiden resource estimate classified over 1.3 million tonnes of lithium carbonate equivalent as indicated and inferred. Metallurgical testing shows the claystone is leachable with over 80% lithium recovery. Cypress aims to advance the project with engineering studies and further drilling to define resources with the goal of becoming a domestic lithium producer for the growing battery market.
The document provides forward-looking statements and discusses risks associated with such statements. It notes that some statements may be deemed forward-looking and lists factors that could cause actual results to differ from forward-looking statements. The document also identifies the qualified person for the technical information as Cornell McDowell and provides Aben's trading symbols and recent share information.
The document provides an overview of Aben Resources Ltd., a mineral exploration company with gold projects in Western Canada. It summarizes Aben's three key projects - Forrest Kerr in BC's Golden Triangle region with recent drill results discovering the Boundary Zone, Chico in Saskatchewan near producing mines, and Justin in Yukon's White Gold district. It outlines the management team's expertise and provides company details like shares outstanding and trading symbols.
- Cypress Development Corp owns the Clayton Valley lithium project in Nevada located near Albemarle's Silver Peak lithium brine operation.
- Drilling in 2017 encountered lithium mineralization averaging 921 ppm Li over 77 meters in 14 holes drilled.
- Metallurgical tests show the claystone is acid leachable with over 80% lithium extraction possible.
- Cypress aims to define a resource estimate in 2018 and advance the project with feasibility studies to develop a lithium operation.
The document discusses forward-looking statements and provides disclaimers about them. It introduces the qualified person for the technical information presented. It also lists Aben's trading symbols and recent share information including price and market capitalization.
1) Cypress Development Corp owns the Clayton Valley lithium project located next to Albemarle's Silver Peak mine in Nevada. Drilling in 2017 intersected lithium-bearing claystone averaging over 900 ppm Li to a depth of over 100 meters.
2) A maiden resource estimate classified over 1.5 million tonnes of lithium carbonate equivalent as indicated and inferred. Metallurgical testing shows the claystone is acid leachable to extract over 80% of the lithium.
3) The project is located in a strategic location to supply the growing lithium-ion battery market in the US, with lithium demand accelerating due to the increased production of electric vehicles globally.
TerraX Minerals is a Canadian mineral exploration company focused on exploring and developing its 100% owned 772 square km Yellowknife City Gold project located adjacent to the city of Yellowknife, Northwest Territories. The project covers high-grade Archean gold districts and has had multiple high-grade gold discoveries. TerraX has a strong management team with experience discovering and developing gold deposits and low exploration costs due to the project's excellent infrastructure and year-round access near Yellowknife.
This document discusses forward-looking statements and provides information about Aben Resources Ltd., including its stock symbols, shares outstanding, recent share price, market capitalization, and three gold exploration projects in Western Canada. It summarizes the management team's experience and the company's investment highlights. Specifically, it owns the Forrest Kerr gold project in British Columbia's Golden Triangle region, which saw successful drilling results in 2017 that led to a new discovery called the North Boundary zone.
Cypress Development Corp owns lithium claystone deposits in Clayton Valley, Nevada near Albemarle's Silver Peak lithium mine. Drilling in 2017 encountered lithium mineralization averaging 921 ppm Li over 77 meters in 14 holes. Metallurgical tests show the claystone is acid leachable with up to 80% lithium extraction. Cypress plans additional drilling, process engineering, and a preliminary economic assessment in 2018 to advance the project. The company sees potential for the project given growing lithium demand from electric vehicles and batteries.
TerraX Minerals is a Canadian mineral exploration company focused on exploring its 100% owned 772 square km Yellowknife City Gold project located near Yellowknife, Northwest Territories. The project covers high-grade Archean gold districts with known deposits and past producers. TerraX has made multiple high-grade gold discoveries on the property and identified several high-priority targets for further exploration and drilling. The company has a strong management team with experience discovering and developing deposits in the region.
Cypress Development Corp owns lithium claystone deposits in Clayton Valley, Nevada that have the potential to be a significant lithium resource. Drilling in 2017 encountered mineralization averaging 921 ppm lithium over 77 meters thick in 14 drill holes. Metallurgical testing shows the claystone is acid leachable with up to 80% lithium extraction. Cypress plans additional drilling, metallurgical testing, and a preliminary economic assessment in 2018 to further define the resource potential.
Cypress Development Corp owns lithium claystone deposits in Clayton Valley, Nevada near Albemarle's Silver Peak lithium mine. Drilling in 2017 encountered mineralization averaging 921 ppm lithium over 77 meters thick in 14 drill holes. Metallurgical tests show the claystone is acid leachable with up to 80% lithium extraction. Cypress plans additional drilling, metallurgical testing, and a preliminary economic assessment in 2018 to evaluate the project's potential.
Cypress Development Corp is exploring for lithium resources in Clayton Valley, Nevada. Recent drilling has encountered lithium-bearing claystone up to 112 meters below surface, with grades averaging over 800 ppm lithium. Metallurgical testing indicates 80% of the lithium can be extracted using a weak sulfuric acid solution. Cypress plans additional drilling in 2018 and expects to publish a initial lithium resource estimate in Q1 2018 to advance the project towards a preliminary economic assessment. The project is located near existing lithium production and infrastructure to be a potential new supply of lithium for the growing battery market.
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We take a look at everything that you need to know in order to deploy effective WhatsApp marketing strategies, and integrate it with your buyer journey in HubSpot. From technical requirements to innovative campaign strategies, to advanced campaign reporting - we discuss all that and more, to leverage WhatsApp for maximum impact. Check out more details about the event here https://events.hubspot.com/events/details/hubspot-new-delhi-presents-unlocking-whatsapp-marketing-with-hubspot-integrating-messaging-into-your-marketing-strategy/
Best Competitive Marble Pricing in Dubai - ☎ 9928909666Stone Art Hub
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2. Forward looking statements
This presentation may contain forward-looking statements and
information that both represents management's current
expectations or beliefs concerning future events and are
subject to known and unknown risks and uncertainties.
A number of factors could cause actual results, performance or
events to differ materially from those expressed or implied by
these forward-looking statements.
22nd March 2012 | Page 1
3. Agenda
Premier today Simon Lockett
2011 financial results Tony Durrant
Operations update Neil Hawkings
Exploration update Andrew Lodge
Summary Simon Lockett
22nd March 2012 | Page 2
4. Over the last 6 years …
338% 80%
40% 72%
Over the period, NAV/share CAGR of 14.2%
22nd March 2012 | Page 3 excluding oil price effects
5. Premier today...
... is in the strongest position in
its history
• Clear path to 100,000 boepd
from existing projects
• >1.5 billion of prospective
resources in the exploration
portfolio
• Fully funded programme with Evaluate Drill Appraise
strong and rising cash flows LEADS PROSPECTS MATURE PROSPECTS
Asia
• Proven capability to deliver
across the portfolio
North Sea
Pre-
Development
MEAP
Project
Appraisal Extension
Approval Gate Gate
Drill Decision
Gate
Acquire Licence
Gate
22nd March 2012 | Page 4
6. 2011 highlights...
• Increased production to 60,000 boepd at year end
– Chim Sáo and Gajah Baru onstream
– Next generation of development projects progressing
• Increased reserves and resources to 527 mmboe
– Exploration success at ~$5/bbl post-tax
– Acquisitions at ~$8/bbl
• Increased financial strength
– Cash and undrawn facilities of ~$1.4 billion
– Strongly rising cash flows
– Record profitability
– Continued access to bond and bank markets at favourable rates
22nd March 2012 | Page 5
8. Record profitability
12 months to 12 months to Highlights
31 Dec 2011 31 Dec 2010
Operating costs ($/bbl)
Working Interest production (kboepd) 40.4 42.8
2011 2010
Entitlement production (kboepd) 37.7 38.3
UK $39.5 $28.7
Realised oil price ($/bbl) – pre hedge 111.9 79.7 Indonesia $11.1 $8.5
Realised gas price ($/mcf) – pre hedge 8.5 6.3 Pakistan $2.4 $2.0
Vietnam $16.6 –
Group $15.9 $13.9
$m $m
Hedging
Sales and other operating revenues 827 764
Cost of sales (415) (531) • Net impact on 2011 of $23 million
post-tax
Gross profit 412 233
• 25% of 2012 production hedged at
Exploration/New Business (211) (87) average of $100/bbl
General and administration costs (25) (18) • Minimal hedging beyond 2012
Operating profit 176 128
Taxation
Financial items (34) (27)
101 • All b/fwd losses recognised as
Profit before taxation 142
deferred tax asset
Taxation credit 29 29 • $1.36 billion allowances carried
Profit after tax 171 130 forward into 2012
• No UK CT cash taxes until 2018 under
existing model using $75/bbl
22nd March 2012 | Page 7
9. Rising cash flows
12 months to 12 months to Estimated capex split ($m)
31 Dec 2011 31 Dec 2010 2011 2010
$m $m
Development 433 349
Cash flow from operations 530 505 Exploration 228 165
Taxation (44) (69) 661 514
Operating cash flow 486 436 Regional split ($m)
MEAP
Capital expenditure (661) (514) $58m
(Acquisitions)/disposals, net (90) 13
Finance and other charges, net (50) (70) Total
$661m
Pre-licence expenditure (23) (19)
Net cash flow (338) (154) Asia North Sea
$301m $302m
Outlook
• Operating cash flow increased by 11%; significant growth expected in 2012
22nd March 2012 | Page 8
10. Strong liquidity position
at 31 Dec 2011 at 31 Dec 2010
$m $m
Cash 309 300
Bank debt (484) (488)
Bonds (341) (–)
Convertibles (228) (218)
Net debt position (744) (406)
Pro forma Gearing 30% 26%
Cash and undrawn facilities 1,116 1,202
Outlook
• Current debt funding costs average 5% (fixed) and 3% (floating)
• Additional bank and bond debt raised post year-end of $585 million raising cash
and undrawn facilities (after some debt repayment) to $1,400 million by mid-March
22nd March 2012 | Page 9
11. Fully funded programme
2012 outlook Investment Profile
(US$ million)
•Forecast full-year 2012 spend of ~$740 1400
Exploration Expenditure
million (development) and $220 million 1300 Development Capex
(exploration) 1200
1100
•Total capex covered by cash flow for 2012 1000
at current spot prices 900
800
Forward funding
700
•Forward profile funded by cash flow and 600
facilities even at $60/bbl 500
400
•Significant capacity to increase spend on 300
exploration and new development projects 200
100
0
2012 2013 2014 2015
Note: assumes exploration expenditure of $250 mm pa from 2013
Outlook
• Rising production generates $2 billion post-tax cash flow in 2015 at $100/bbl
22nd March 2012 | Page 10
13. Operations highlights
• Chim Sáo and Gajah Baru onstream in October
– Deliverability exceeding expectations
• Realising further value from producing assets
• Continued progress on the development
portfolio:
– Huntington and Rochelle progressing
– Solan project sanction expected soon
– Development studies for Catcher well-
advanced
• On track to reach 75,000 boepd run rate by
year end 2012, once Huntington and Rochelle
onstream
• Anticipate reaching 100,000 boepd when
Catcher comes onstream in 2015
22nd March 2012 | Page 12
14. Production update
Production (working interest) • Year-end target of 60,000 boepd achieved
(kboepd net) – Full year production 40,420 boepd
70 – Strong gas demand in Pakistan and
Asia
Indonesia, combined with good facilities
60 MEAP performance
North Sea
50
– Improved Balmoral production in H2, as
maintenance issues were progressed
40 • Wytch Farm acquisition adds ~2,500 boepd net
• Production at Kyle (1,760 bopd) shut-in since
30 December 2011
• 2012 full year production forecast 60,000-
20 65,000 boepd, with key variables being
– Timing of Huntington first production
10
– Ability to capitalise on excess deliverability
at Chim Sáo and Gajah Baru
0
2007 2008 2009 2010 2011 2012E
22nd March 2012 | Page 13
15. Block A – strong production performance
Anoa & GSA1
• Producing at current maximum capacity
– 170-180 BBtud
• Phase 4 expansion project underway
– Raising capacity to 200 BBtud
• Pelikan will add 70 BBtud of capacity
Gajah Baru & GSA2/3/4
• Currently producing at 60-90 BBtud
• DCQ increases from 50 to 90 BBtud at end Q1
– 200 BBtud well deliverability
• Indonesia will shortly take an additional 40 BBtud
when the domestic swap agreement is signed
Outlook
• Series of new field developments will maintain rates
• Exploration is adding additional reserves Natuna ‘A’ 2015
22nd March 2012 | Page 14
16. Singapore Gas Market – sales are increasing
Singapore demand for gas will increase
• Existing pipeline supplies are naturally declining
• LNG supplies must commence and increase
• But supply diversity will be maintained, and be
underpinned by 90% Take or Pay contracts
• GSA1 demand expected to remain between DCQ
and Max Rate (341-392 BBtud)
Premier’s GSA1 market share is increasing
• Block A contractual market share of GSA1 is 37%
– 2011 Block A actual share of deliveries was
42%
– Block A share of remaining reserves dedicated
to GSA1 has increased to 59%
– Other GSA 1 suppliers are expected to drop to
150-100 BBtud in 2015-2016
• GSA 1 market available to Block A could increase
to 200-250 BBtud in 2015-2016
22nd March 2012 | Page 15
17. Chim Sáo – delivered and ramping up
• First oil achieved, safely and on budget, in
October 2011
• Currently producing 25,000-30,000 bopd
– Gas exports add a further ~4,000 boepd
– Rates limited due to water injection
delays
– 9 production wells could reach
40,000 bopd
– Vessel capacity is 50,000 bopd
• MDS5/6 reserves have increased by
10 mmbo
22nd March 2012 | Page 16
18. Chim Sáo – uncovering upside potential
Chim Sáo North West Far Closure
• Chim Sáo North West discovered in August 2011 Near Closure
• Additional gross resource estimate 13 to 20 mmbo
Chim
• Near vertical appraisal well scheduled for mid-2012
Sáo
• Development will be via existing facilities
West Closure
Additional Reservoirs
3060mss
• Further reserves potential is being 2000m
found in reservoirs other than MDS5/6
Tie-in of Dua
• Government of Vietnam approved
ODP in December 2011
• Long lead items being purchased
• Project sanction expected 1H 2012,
first oil 2014
22nd March 2012 | Page 17
19. Kadanwari – getting more from a mature field
Kadanwari field
• Came onstream in 1995
• Highest gas price in Pakistan
• 2008-2012, five new gas compartments discovered:
– K-27 tied-in to system at 45 mmscfd in 2012
– K-28 and K-30, which tested at 30 mmscfd and
50 mmscfd respectively, will be tied-in by mid-2012
• Production levels expected to be at 110 mmscfd
during 2012-2014
• Further exploration well planned for 4Q 2012
Upside potential
• 550 bcf of tight gas potential identified in 2011
• 3 well pilot project planned for 2012
22nd March 2012 | Page 18
20. Wytch Farm – motivated operator finding upside
Increased equity
• Increased Working Interest in Wytch Farm by
17.715% to 30.1% in 2011
– ~4,500 boepd of net production in 2012
– Adds ~11 mmboe of net reserves
Upside potential
• Initiated active drilling programme to 2017 and
beyond to increase deliverability
– Infill drilling in producing reservoirs to
accelerate production and optimise
recovery
– Bringing into production of satellite
discoveries onshore
• Long term production and reserves upside
through waterflood optimisation and EOR
• Working with new operator Perenco to
maximise value
22nd March 2012 | Page 19
21. Huntington and Rochelle – progressing to first oil
Huntington Rochelle
• Successful development drilling campaign • Rochelle area agreement executed May 2011
• Phase 1 sub-sea installation completed • Approval of FDP for East and West Rochelle
• CATS gas transportation agreement signed and in 2011
shuttle tanker contract awarded • Scott platform modifications underway
• Upgrade of the Voyageur FPSO proceeding • Subsea installation to commence in June 2012
• Operator is expecting first oil in Q4 2012 • First gas expected in November 2012
22nd March 2012 | Page 20
22. Solan – approaching project sanction
• Premier is Operator with 60% equity
• Development Concept:
– Subsea wells and storage tank
– Processing deck on a conventional jacket
– Reserves estimate ~ 40 mmbo
– Initial rate of 22,000 bopd
– Capex of ~$850 mm with $30 mm/year opex
• Premier will provide Chrysaor with:
– $50 million carry
– Corporate loan for the balance of their equity
– Loan recovered through Chrysaor’s cash flow
• Will qualify for new “Small Fields Allowance”
• Internal approvals are in place and seeking
partner and DECC approvals before end April
22nd March 2012 | Page 21
23. Catcher Area – selecting a development concept
• Further 2011 drilling resulted in: FPSO and Subsea Wells
– STOIIP estimates of ~260-290 MMSTB
– Reserves estimates of 80-130 MMSTB
– Production rate of 50-70,000 bopd
• EnCore acquisition has completed
– Premier in place as Operator with 50% equity
• Conceptual Engineering studies completed
– Capex estimates range from $1.6bn for a leased
FPSO to $2.8bn for a central fixed platform CPP, Bridge-linked WHP and Subsea Wells
– JV concept selection process is underway
• New “Small Fields Allowance” will apply to seperate
accumulations on block
• Targeting sanction by year-end with first oil in 2015
22nd March 2012 | Page 22
24. Reserves and resources – continuing growth
Reserves and contingent resources Reserve replacement ratio of 333%
(mmboe)
600
2C contingent resources
550 2P reserves
500 230
227
450
400
350
300
296
250 261
200
150
100
50
0
2007 2008 2009 2010 Production Additions & End 2011
Revisions
22nd March 2012 | Page 23
25. A clear path to 100,000 boepd
Production outlook Development capex
(bbls/day) (US$ million)
120,000 1100
Pre-Development
1000 Sanctioned Projects
On Production
100,000 900
800
80,000
700
600
60,000
500
400
40,000
300
20,000 200
100
0 0
2012 2013 2014 2015 2016 2012 2013 2014 2015 2016
At $100/bbl, expect post tax cash flow of ~$2 billion in 2015
nd
22 March 2012 | Page 24
27. Exploration strategy
Themes
• Focus on geologies we know well Old New
– Rifts or frontal fold belts 1. Premier capabilities 3. Technology capabilities
and niche strategies and resource
diversification
• Target best plays in basins of opportunities
Old
Old
choice North Sea
Geographies
Geographies
– Play master approach Asia
MEAP &
Exploration
• Deliver 200 mmboe of 2P reserve New
Business
additions by end 2014
New
New
4. Identify long term
• Invest up to 30% of annual cash 2. Leverage Premier opportunities for
capabilities in new growth and approach
flows in exploration areas to de-risk investment
Old New
• Gated process to decision making
Themes
22nd March 2012 | Page 26
28. 2011 highlights
Exploration drilling Actual & forecast risked resource additions
• Notable discoveries at Burgman in the Catcher 2009-2015 (mmboe)
area in the UK, and CRD and Chim Sáo North
West in Vietnam 450
Actual cumulative plus possible resources
• 12 out of 21 exploration and appraisal wells drilled Cumulative risked prospective resource additions
400 Risked prospective resource additions
in 2011 successful Actual proved plus probable additions
• Additional successes to date in 2012 with Anoa 350
Deep in Indonesia and K-30 in Pakistan
300
• Remain on track to deliver 200 mmboe by end
2014 250
– 70 mmboe added to date
200
New ventures
150
• 2011 highly successful for new acreage capture in
Norway, UK and Kenya 100
• With lead and prospect maturation, greater visibility
for 2014 and beyond 50
•Unrisked prospective portfolio of >1.5 billion boe 0
2009 2010 2011 2012 2013 2014 2015
(350 mmboe risked) Actual Actual Actual
22nd March 2012 | Page 27
29. Recent acquisitions add to overall portfolio value
Evaluate Drill Appraise
LEADS PROSPECTS MATURE UNDER
PROSPECTS APPRAISAL
Silver Tupai
Asia
Sillago
Anakonda
B Kecil B Sedang
Singa /
Alur Kuda Laut
Kakak Benteng
Kacang Vietnam
CRT Tua
Block 12W: CS NW
Peudawa Matang Vietnam
Rayeu Sambar Block 12W: CS Cau
Biawak
Besar Vietnam
Baroosh
Block 087/03 CRD
North Sea
Dino
New Luno II
Norway
York PL378: Grosbeak
Lacewing Carnaby
Pre-
Moth S. Cougar Norway Development
Rapide PL374S: Blabaer
Moth E.
Typhoon
UK
Stingray P1875 Erne
Norfolk Rocket Cyclone
Coaster
Bonneville Pakistan
Spaniards
Cornet Badhra-7 Kadanwari K-30
Badhra South
K-32
MEAP
Badhra-6 Parh
Project
Appraisal Extension
Approval Gate Gate
Drill Decision Gate
Net NPV10 $mm Net EMV10 $mm
Acreage acquired in 2011 (shown as circle inside NPV)
added >$3bn success case <10 <100 >100 >250 <10 >10 >25 >50
Acquire Licence
Gate
NPV (>$400mm EMV)
22nd March 2012 | Page 28
30. Exploration – North Sea
Overview
• Targeted play led exploration
• Leveraging extensive datasets and
geophysical expertise
• Pushing plays beyond their currently
understood limits – wider and deeper
• Future growth from within the portfolio
and through new acquisitions and/or
licence awards
• Targeting 7-8 wells in 2012 with
combined gross mean prospective
resource estimate of >350 mmboe
22nd March 2012 | Page 29
31. Exploration – North Sea
Pushing the plays wider
• Premier has the regional database to pursue
amplitude supported Tertiary prospects Stingray
throughout the Central North Sea
• 3 firm wells to be drilled in 2012 targeting
Eocene prospects: Carnaby, Coaster and Cyclone
Cyclone
– Combined gross prospective resource
estimate of 48-115-225 mmbo
Carnaby Coaster
• The Stringray prospect is attempting
to push the boundaries of the Eocene Turbidite Sand Fairway
Jurassic play fairway to the North
Eocene ( Lower Tay) amplitude extraction Coaster Tay Amplitudes
– Gross prospective resource
estimate of 12-30-90 mmbo Varadero
Catcher East
Discovery
Catcher
Carnaby
N&E
Burgman Coaster
Prospect
2km
22nd March 2012 | Page 30
32. Appraisal – North Sea
Greater Fyne Area
• Fyne Area entry – seeking incremental
reserves to reach development threshold
• Erne and Fyne Appraisal encountered
hydrocarbons but limited impact on
East Fyne
reserves for Greater Fyne Area
• Reserves insufficient for standalone
development
Erne
• Economics of tieback to nearby host
FPSOs do not currently meet Premier
corporate hurdles
• Discussions with partners ongoing
22nd March 2012 | Page 31
33. Exploration – North Sea
Pushing the play wider ... Cyclone
Cyclone (P1784) (21/7b)
• Premier 70% equity, block awarded in 2010
• Gross prospective resource estimate (on block) Cyclone
– 20-35-50 mmboe (Tay reservoir)
• Risk assessment: moderate
– Critical factor: oil column
• Well planned for Q3 2012
Cyclone
Balder
Amplitude extraction
Cyclone amplitude response Green - oil?
on far stack data Yellow - gas
2km
22nd March 2012 | Page 32
34. Exploration – North Sea
Pushing the plays wider ... 2013
Norfolk (P1887) (12/16b & 12/17b)
• Premier 25% equity, block awarded in 26th Round Norfolk
• Gross prospective resource estimate (on licence)
– 20-146-495 mmboe
• Risk assessment: high
– Critical factor: hydrocarbon charge and quality
• Prospect maturation ongoing
Norfolk Norfolk
W E NNW SSE
22nd March 2012 | Page 33
35. Exploration – North Sea
Pushing the plays deeper
• Potential exists for deeper
underexplored fairways in
the North Sea
Luno II
• In 2012, Premier will drill two prospects
targeting this deeper potential:
Lacewing (Triassic target) and Luno II
(Jurassic target)
• Combined gross prospective resource
potential of 100-200-400+ mmbo
Lacewing
• Additional prospect maturation ongoing
for drilling in 2013 and beyond
22nd March 2012 | Page 34
36. Exploration – North Sea
Pushing the plays deeper ... Luno II
Luno II (PL 359)
• Premier equity 30% Ragnarrock
• Greater Luno is a regional high
– Focus for oil migration Luno/Apollo Johan Sverdrup
– Regional top seal drapes the high
– Jurassic/Triassic reservoirs flank the high and,
where fractured, basement is also a reservoir PL 359
– ~2,000 mmboe discovered to date
• Key play risks
– Reservoir presence on the margins of the high Luno II Prospect
– Lateral seal
BCU Time Map
C.I. 100 ms
10km
• Luno II is on the Southwest margin of the Johan Sverdrup high
• Mesozoic sand presence interpreted from seismic and local well data
• Gross prospective resource estimate: 125mmbo (mean)
• Risk assessment: moderate
– Critical factor: lateral seal
• Well planned for Q4 2012
22nd March 2012 | Page 35
37. Exploration – North Sea
Pushing the plays deeper ... Lacewing
Lacewing (P1181, 23/21 & 23/22b)
• Gross prospective resource estimate
(on block)
– 50-70-90 mmboe
• Risk assessment: high
– Critical factor: trap effectiveness
and reservoir quality
• Transfer of 37.3% and operatorship to
ConocoPhillips plus partial carry
Top Triassic Depth Map
– Premier’s retained equity in the
block will be 20.2%
• ConocoPhillips considerable HPHT
experience
• Well planned for Q4 2012
22nd March 2012 | Page 36
38. Exploration – Asia
Overview
• Play led approach in the Nam Con Chim Sáo
Son Basin
– North West Chim Sáo Appraisal Kuda/Singa Laut
Matang
– Kuda/Singa Laut wells planned Anoa Deep,
Biawak Besar
– Prospect maturation for 2013
• Adding gas reserves
– Anoa Deep success
– Biawak Besar planned for late
Benteng
March
– Matang will spud Q3 2012
• Pushing the frontiers
– Benteng expected to spud late
March
22nd March 2012 | Page 37
39. Exploration – Asia
Kuda/Singa Laut ... 1H 2013
Kuda/Singa Laut (Tuna Block) Combined Depth Structure Map
• Premier 65% equity and Operator
• Faulted dip closed structure up dip from a proven source
kitchen to the east
0m
Kuda Laut
– Primary reservoir target is Miocene in the Kuda Laut
20
-3
segment and Oligocene in the Singa Laut segment Singa Laut
• Risk assessment: low (amplitude supported)
• Gross prospective resource estimate: 60-100-140 mmbo
4 km
• Well planned for 1H 2013
Kuda Segment Singa Segment Singa Laut
Fluid Detection Volume – 3D Inversion
22nd March 2012 | Page 38
40. Exploration – Asia
Anoa Deep success
Anoa Deep (Natuna Sea Block A)
• Premier 28.67% equity and Operator Anoa North
• Drilled as an exploration tail to the WL-5 development well
• Encountered ~300 feet of fractured Lama Sandstones
• Lama formation tested and flowed gas
WL
Anoa Deep
– 17 mmscf/d through a 48/64 inch choke Discovery
– Estimated total gas in place of 70-100-150 bcf
Top Lama Depth
C.I.=100 feet
• The well will be tied-in to the Anoa facility 1 Km
Anoa Deep (WL-5X)
• Significant follow-on potential PTD 10850 ft MD (9550 ft TVDss)
NW SE
– Similar sized structures are
mapped at the Top Lama to the
north and east of Anoa Deep
Top Lama
PRIMARY TARGET
2 Km
22nd March 2012 | Page 39
41. Exploration – Asia
Potential play opener ... Benteng
Benteng-1
Benteng (Buton Block) PTD 3200m MD
• Premier 30% equity, operated by Japex NW SE
Bulu-1
• Gross prospective resource estimate:
– 77 mmboe (mean)
• Risk assessment: high
– Critical factor: trap presence
• Well planned for late March PTD
PRIMARY TARGET
2 Km
2 Km
Buton Block
22nd March 2012 | Page 40
42. Exploration – MEAP
Entry into offshore Kenya
L10A & L10B
• Potential to extend successful plays to
the south into Kenya
• 2535 km2 of 3D seismic successfully
acquired in Q4 2011
– Processing of 3D seismic to be
completed by year-end
• 1030 km of 2D successfully acquired in
Q1 2012
– Processing to be completed in Q2
2012
• Preliminary data sets show good quality
Test line from the 3D survey
22nd March 2012 | Page 41
43. Exploration drilling 2012
2012 Mean gross unrisked
Asia Q1 Q2 Q3 Q4 resource (mmboe) Risk
Vietnam Block 12W Chim Sáo NW Appraisal ENSCO 107 17 Low
Indonesia Buton Benteng-1 PRA 01 77 High
Natuna Sea Block A Biawak Besar W est Callisto 15 Low
Block A Aceh Matang 40 Low
North Sea
Norway PL359 Luno II Bredford Dolphin 125 Moderate
UK P1430 Carnaby Sedco 711 34 Low
P1812 Coaster Sedco 711 50 High
P1430 Bonneville Sedco 711 TBC Low
P1212/P1771 Stingray Glomar Arctic III 32 Moderate
P1784 Cyclone Wilphoenix 35 Moderate
P1655 Spaniards Wilphoenix 32 High
P1181 Lacewing Maersk Resiliant 70 High
Middle East - Africa - Pakistan
Pakistan Kadanwari K-32 Weatherford 812 7 Low
Bhit-Badhra Badhra South Deepening-1 38 High
Badhra-7 10 High
Mauritania Commitment well TBC TBC
All well timings are subject to revision for operational reasons
Firm Wells: Rig Contracted 17 exploration and appraisal wells planned for
Firm Wells: Rig TBC the remainder of 2012, targeting ~200 mmboe
Contingent Wells
of net unrisked prospective resource
Wells to watch in 2012
nd
22 March 2012 | Page 42
44. 2012 New Venture focus
North Sea (Rift theme)
• UK and Norway Licence Rounds
• Potential adds through acquisition
MEAP (Rift & Frontal Fold Belt themes)
• East Mediterranean and Egypt
• Pakistan and Iraq
• Expanding Premier’s acreage position in
East Africa
Asia (Rift & Frontal Fold Belt themes)
• Andaman Sea
• East Vietnam
• Frontier Basins of East Indonesia
22nd March 2012 | Page 43
45. Exploration
Key messages...
• Portfolio of >1.5 billion boe of unrisked potential
• Wells to watch
– North Sea: Carnaby, Coaster, Cyclone and Luno II
– Asia: Anoa Deep, Biawak Besar and Chim Sáo North West
appraisal
• On track to deliver material programme in 2013 and beyond
• New Venture focus on basins with geologies that we understand
22nd March 2012 | Page 44
47. What can you expect from Premier?
Already in 2012...
• Solan – Board approval
• Anoa Deep – A new exploration play beneath Anoa
• EnCore Oil – Completed acquisition and Cladhan sale
• Finance – Cash/undrawn facilities increased to $1.4 bn
Forward plan...
• Production – Rising production to 100,000 boepd
• Developments – Delivery on time, on budget, operated
• Exploration – Enhancing portfolio materiality
• Acquisitions – Where we can add value
• Cash flow – Increasing to $2 bn per annum
22nd March 2012 | Page 46
49. Group taxation position
12 months to 12 months to UK Tax Allowance Position
31 Dec 2011 31 Dec 2010 at 31 Dec 2011
$m $m $m
Overseas 60.1 56.9 Allowances brought forward 1,112
Prior period provisions 72.1 Net additions in 2011 excluding RFES 204
UK RFES changes 44
PRT 17.2 25.9 Tax allowances carried forward* 1,360
CT nil Nil * fully recognised as deferred tax asset
Prior period revisions (2.1) (21.3)
Current charge 147.3 61.4
Deferred tax credits (177.0) (90.4)
Tax credit for the year (29.7) (29.0)
22nd March 2012 | Page 48
50. Other developments
Block A Aceh (Vietnam) Caledonia (UK)
• Project sanction delayed • Caledonia will be a tieback to Balmoral
– Facilities sharing agreement with Arun but with gas lift from Britannia
not completed (Arun owner is selling • Sanction in 2012 with first oil in 2014
the asset)
• New “Small Field Allowance” expected
– EPCI bid: decision taken to re-tender
• First gas is now scheduled for mid-2015
22nd March 2012 | Page 49
51. Other developments
Bream (Norway) Frøy (Norway)
• Development plan progressing and the • Work on the stand-alone development
FPSO has been selected remains on hold
• FEED is underway on both the FPSO • Discussions on joint development are
and the subsea scope underway with other operators
• FPSO contract expected soon • Focus is Frigg Gamma Delta where a
• Project sanction is planned for Q3 2012, new operator has recently taken over
with first oil in 2015 • First oil for Froy modelled for 2017
22nd March 2012 | Page 50
52. End 2011 2P reserves and contingent resources
North Sea Asia MEAP Total
2P Reserves
On production 36.8 74.8 32.5 144.1
Approved for
16.6 33.7 5.1 55.5
development
Justified for
71.8 24.1 0.8 96.7
development
Total Reserves 125.2 132.6 38.5 296.3
2C Contingent Development
52.9 7.4 1.0 61.3
Resources pending
Un-clarified or
16.1 32.9 15.7 64.6
on hold
Development not
27.6 63.9 12.8 104.4
currently viable
Total Contingent
96.6 104.2 29.5 230.3
Resources
Total Reserves & Contingent
221.8 236.8 68.0 526.6
Resources
These figures do not include prospective resources
22nd March 2012 | Page 51
53. Prospective resource portfolio
• Unrisked prospective resource portfolio Unrisked Resource Portfolio
Discovered resource
of 1,696 mmboe under appraisal 33 mmboe
• Portfolio changes from 2010:
– Increased lead inventory in Kenya,
Total
Norway and the UK Prospects
510 mmboe
1,729
Leads
1,186 mmboe
mmboe
– Prospect inventory adjusted post
2011 drilling
• Risked prospective resource portfolio of
356 mmboe Risked Resource Portfolio
Discovered resource
– 160 mmboe in prospects under appraisal 17 mmboe
– 196 mmboe in leads
– Focus to lead and prospect
Total
maturation in 2012 Prospects
373
Leads
160 mmboe 196 mmboe
mmboe
22nd March 2012 | Page 52
54. Recent acquisitions add to overall portfolio volume
Evaluate Drill Appraise
LEADS PROSPECTS MATURE UNDER
PROSPECTS APPRAISAL
Tupai
Asia
Silver
Sillago Anakonda
B Sedang
Singa /
Alur Kuda Laut
B Kecil Kakak Benteng
Kacang Vietnam
CRT Tua
Block 12W: CS NW
Peudawa Matang
Rayeu Sambar
Biawak
Baroosh Besar
North Sea
Dino
New
York Luno II
Lacewing Carnaby
Pre-
Moth S. Cougar Norway Development
Rapide PL374S: Blabaer
Moth E. Typhoon
UK
Stingray P077: East Fyne
Cyclone Coaster
Norfolk Rocket
Bonneville Spaniards
Cornet Badhra-7
Badhra South
K-32
MEAP
Badhra-6 Parh
Project
Appraisal Extension
Approval Gate Gate
Drill Decision Gate
Net Prospect Rec Resource
(mmboe)
Acquire Licence <10 10-25 26-49 50+ Acreage acquired in 2011
Gate Risked
22nd March 2012 | Page 53
55. Exploration – North Sea
Carnaby
Carnaby (28/9) Cromarty Depth Structure
Varadero
• Premier 35% equity
• Gross prospective resource estimate
– 15-30-50 mmbo (Tay reservoir)
Catcher E
• Expected phase oil Catcher Main
– Gas in shallower Eocene targets (Upper Tay) Carnaby Prospect
• New 3D seismic data work ongoing Carnaby Burgman
• Well planned for Q2 2012
Carnaby
Eocene ( Lower Tay) amplitude extraction S N
Upper Tay
Varadero Lower Tay
Carnaby Catcher
N&E
Carnaby
Burgman
Burgman
22nd March 2012 | Page 54
56. Exploration – North Sea
Coaster
Coaster (28/10a) Rapide
JU1 Vincent
• Premier 100% equity, TAQA farmed Varadero
into 50% interest Catcher North
Cougar
• Gross prospective resource estimate
13-50-125 mmboe (on block) Carnaby
Tiger Coaster
• Eocene and Palaeocene reservoirs Catcher
Burgman
• Risk assessment: high
– Critical factor: trap and charge
Paso
JU2
• Well due to spud Q2 2012
Bonneville Area
Rocket
22nd March 2012 | Page 55
57. Exploration – North Sea
Stingray
Stingray (P1212) (15/13b)
• Premier 50% equity, block awarded in 2004
Stingray
• Gross prospective resource estimate (on block)
– 12-30-90 mmboe
• Risk assessment: moderate
– Critical factor: trap – sealing fault to the north cannot be
accurately determined
• Planned spud date Q2 2012
Stingray Prospect
22nd March 2012 | Page 56
58. Exploration – North Sea
Spaniards
Spaniards (P1655) Spaniards West Perth
Spaniards Central Spaniards East
Ryazanian Galley Galley
• Premier equity 28% and Operator,
adjacent to Scott infrastructure
14/25a-5
• Gross prospective resource estimate:
– 10-30-40 mmbo
Ha
li b u
• Risk assessment: high tH
o rs
t
– Critical factor: reservoir development
Top Galley Sand Depth
• Primary Target:
– Jurassic Galley Sands (oil)
– Appraising down dip extent of crestal
oil discoveries in wells 15/21a-38z
and 15/21-2
• Well planned for Q3 2012
22nd March 2012 | Page 57
59. Exploration – Asia
Biawak Besar
Biawak Besar (Natuna Sea Block A)
• Premier: 28.67% equity and Operator
Iguana Discovery
• Gross prospective resource estimate 13-15-17 mmboe
• Risk assessment: low
Biawak Besar-1
– Critical factor: lateral seal presence
• Potential in a stratigraphic trap down-dip of the Iguana-1 Top Arang Depth
C.I.=100 metres
discovery 2000m
• Well planned for Q2 2012 Biawak Besar
PTD 5950 ft MD
NW SE
Top Lama
PRIMARY
TARGET
PTD
Biawak Besar
500m
22nd March 2012 | Page 58
60. Exploration – Asia
Matang
Matang (Block A Aceh)
• Premier equity 41.67%
Matang
• Gross prospective resource estimate 20-40-70 mmboe
(whole structure)
• Risk assessment: low
– Critical factor: reservoir presence
– 250 BCF follow on potential in the success case
• Well planned for Q3 2012
Matang-1
PTD 3000m MD
W E
Matang-1
Top N4 Belumai Top Belumai
Carbonate
C.I.=50 metres
1 Km
500m
22nd March 2012 | Page 59