12/12/2016 1 www.sino-oilgas.hk Content 1 Group - - PowerPoint PPT Presentation
Hong Kong Stock Code 00702.HK Corporate Presentation December 2016 12/12/2016 1 www.sino-oilgas.hk Content 1 Group Profile 2 Industry Highlights
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12/12/2016 1
www.sino-oilgas.hk Hong Kong Stock Code：00702.HK
December 2016
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Group Profile
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Industry Highlights
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Company Highlights
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Latest Updates
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Introduction Business Structure Business Overview Shareholder Structure Management Profile
Milestones
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Major Investment Partners
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Listed on the main board of the Hong Kong Stock Exchange (Stock code: 0702) in February 2000, an MSCI China Small Cap Index stock since 2009 Focus: Conventional and unconventional oil and gas, specialized in coalbed methane (“CBM”) Region: Investment among the PRC’s best CBM blocks of Eastern Edge Ordos Basin & Qinshui Basin Vision: To be an international oil and gas explorer and developer Strategy: Venture with state-owned oil & gas companies, acquiring blocks offering to foreign investors with high degree of exploration and commercialization. Meanwhile, strengthen overseas oil and gas exploration and development
Our Assets:
Unconventional CBM Field
Conventional Oil & Gas Fields
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Crude Oil Business Coalbed Methane Business Raw Coal Washing Project LNG Station Project
1. The Group through a wholly owned subsidiary holds 95% revenue interest of Liuluoyu and Yanjiawan Oil Fields; The Group through a wholly owned subsidiary holds 95% revenue interest of Jinzhuang Oil Field 2. The Group through a wholly owned subsidiary holds 70% interest of Sanjiao CBM Block 3. The Group through a wholly owned subsidiary holds a 75% equity interest of a raw coal washing project company located in Qinshui Basin, Shanxi Province 4. The Group through a wholly owned subsidiary holds 30% interest of a LNG project Company located in Shanxi Province
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CBM Exploration & Development Raw Coal Washing
Description of the contents
Sanjiao Block
CBM reserves of 43.5 billion cubic meters. The ODP
Sanjiao is core development project stated
NDRC’s policy paper “12th five-year plan” Partner with China National Petroleum Corporation
Shaanxi Oilflied
Oil field Liuluoyu and Yanjiawan located in Ordos Basin :2P reserve crude oil about 3,830,000 tonnes 2P reserve crude oil Oil field Jin Zhuang located in Ordos plateau hinterland: oil reserve of 4.15 million tonnes
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China Conventional Oil Development Qinshui Raw Coal Washing Project
Through in-depth cooperation with the local sizable coal enterprises, the Group is actively seeking to diversify the business model and cooperation projects In January 2016, the Group entered into a non- legally binding Strategic Cooperation Framework Agreement (“Framework Agreement”) with Shanxi Guxian Lanhua Baoxin Coal Company Limited (山西古 縣蘭花寶欣煤業有限公司) (“Lanhua Baoxin”), which benchmarked the Group’s official entrance into the CBM market of Qinshui Basin 6
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Liquefied Natural Gas
Canada Oilfield Business
Located in Alberta, Canada At least 10 reef oil pools been found to support a minimum of 30 wells drilling Along Highway 88, complete ground facilities, saving cost of road construction
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Shanxi LNG Project
In the process of setting up a liquefied natural gas (“LNG”) station with daily procession capacity of 1.2 million cubic meters in the Sanjiao area of Shanxi Province The first phase design of the LNG station, with a daily processing capacity of 300,000 cubic meters has been completed through public tender. The 120,000 square meters land use rights has also been obtained at the same time. The LNG Station will be constructed in line with the schedule of ODP, which will further broaden the Sanjiao project’s sales channels.
Possible Acquisition of Overseas Conventional Oil
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2000 2006 2013 2015 2014 2009 2012 2010 2011
February Listed on HKEX main board (stock code：0702.HK) March Orion Energy International (“OEI”) signed the PSC of Sanjiao block May Listed on MSCI China Small Cap Index May Acquired Shaanxi Jinzhuang oil field business October Sanjiao Proved Reserve of 43.5 billion cubit meter endorsed by NDRC November Acquired 100% interest of OEI, who is the foreign operator with 70% stake in the Sanjiao PSC May Sales Collaboration Agreement signed with PetroChina September Created the “Sanjiao model” and resolved overlapping mineral tenements conflicts, which is fully affirmed by Zhang Dejiang, Former Deputy Primer Minister of State Council January NDRC release on policy paper 12th five-year plan include Sanjiao as core development project August NEA initiate approval on Sanjiao ODP (1st phase of 500 million m³ production capacity) December Formed PRC JV company in liquefying coal seam gas with Shanxi International Electricity Group December Introduced Sinomaster Group as a strategic shareholder February Introduced the founder and chairman of Kingkey Group Limited Chen Hua as a strategic shareholder June and September Announcements made on for the signing of a MOU of a potential acquisition in Canada March Sanjiao Project was listed on the Key Construction Works 2015 issued by the
July Achieved daily production volume of 180,000 m³ November The ODP of Sanjiao CBM Project has received the official approval from NDRC Obtained 2 invention patents approved by State Intellectual Property Office , which achieved technological breakthroughs
2016
January Signed a strategic Framework Agreement with Lanhua Baoxin for the development of CBM business February Updated the Reserves Report, Sanjiao CBM project NPV rose 33% to HK $ 11.5 billion March Ministry of Finance will increase by 50% of the allowances for CBM development and utilization during the "Thirteen Five“, added up to 0.3 yuan per m³ Sanjiao project for two years been included in key projects in Shanxi Province
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Chairman and Executive Director since September 2011, Dr.Dai is in charge of the overall affairs of the Group Responsible for the Group’s human resources management (including human resources planning, personnel deployment, remuneration scheme and staff training; capital operation (including financing, investment and merger and acquisition of projects) and technology management (including introduction and application of technology) Dr.Dai is experienced in the corporate finance sector as well as merger and acquisitions and corporate restructuring od companies.
Deputy Chairman and Executive Director since September 2012, Chief Executive Officer since June 2014 Responsible for the Group’s strategic planning, operation planning, external relationship and organizational management (including rules and systems, organizational structure and corporate culture) Worked for various central government departments and state-owned enterprises for a considerable period of time.
CFO and Executive Director since March 2009 Responsible for the Group’s financial management (including investment budget, allocation of funding, control on sales as well as inspection and audit of financial matters), legal matters (including tracking on legal matters, risk control and compliance monitoring) and internal affairs of the headquarter of the Group. Holds a master degree of business administration. He has years of experience accounting and financial management and worked for international accounting firms and listed companies in Hong Kong.
Chief Operation Officer since August 2015, Director of Orion Energy International Limited and Vice Chairman od Pipeline International Limited Responsible for the operational management of the Company’s subsidiaries, including daily routine inspection, supervision over their goals and responsibilities, evaluation of performance and statistics of information. Worked for government, enterprises in leadership position for a long period of time, he has extensive experience in operating management and working for government authorities.
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11.5% 8.7% 8.0% 10.5% 4.5% 6.9% 51.1%
Sinomaster Global Limited (Huang Shaowu) He Lin Feng Dai Xiao Bing, Chairman SOG Management Team Other Long-term Investors Other Institutional Investors Public
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Capitalization Summary Issued Shares (11 July 2016) 17,288 million 52-Week Price Range 0.245 – 0.158 Net Assets (30 December 2015) HKD 3,503 million Asset-liability Ratio (30 December 2015) 19.02% Market Capitalization(11 July 2016) HKD 3,804 million
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11 11 Date Investor Format Amount Due Date Interest Rate Conversio n Price
Jun 2015 Harvest Progress International Limited Issue of Convertible Bonds HKD 100,000,000 2017 8% HKD 0.207 Feb 2016 CCB International Overseas Limited Issue of Convertible Bonds HKD 200,000,000 2018 8% HKD 0.207 May 2016 Central China International Investment Company Limited Central China Blue Ocean Investment Management Co., Ltd President Securities (Hong Kong) Limited Issue of Convertible Bonds HKD 160,000,000 2018 8% HKD 0.207 Jun 2016 Crescent Spring Investment Holdings Limited, a wholly-
Huarong International Holdings Limited. Issue of Convertible Bonds USD 130,000,000 (approximately HK$1,010,100,00 0) 2019 8% HKD 0.207
Sino Oil and Gas is committed to develop a high level of integrated management team, and provides investor relations and financing team with full support. Over the years, the Group's Investor Relations team is maintaining a good partnership with shareholders and investors, and actively communicates with institutional investors. Today, the Group's business strength was highly recognized by the industry, and established partnerships with a number of outstanding institutional investors, including:
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China Energy Structure Reform Growing Momentum of China CBM Industry Precise Industry Supporting Policies
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51% 18% 12% 19%
2035 Predicted China Energy Consumption Structure
Coal Oil Natural Gas Nuclear Hydro and others
Sourcing： BP2035China Energy Outlook Executive Summary、NDRC、Ministry of Land and Resources of PRC and National Bureau of Statistics of PRC
66% 17% 6% 11%
2014 China Energy Consumption Structure
Coal Oil Natural Gas Nuclear, Hydro and others
The proportion of natural gas in 2035 will increase to 12%
The emerging natural gas market
production of approximately 11,000-12,000 million m³ per year），which needs to rely on the imports of supplementary gas in order to fill the supply gap
coverage exceed 52%. In 2020, it is expected to break through 36 billion m³ of gas supply and achieve gasification cvoerage to all population.
become the second largest gas consumer in the mid- 2020s(preceded only by the US).
dependence
natural gas has reached 32%(approximately 113 million m³ per day) in 2013 and will increase to more than 40% by 2035 (approximately 669 million m³ per day)
76 83 96 101.1 107.7 121 132.9 80.7 88.7 120 134.4 147.1 169.2 181.6
30 60 90 120 150 180 210
2008 2009 2010 2011 2012 2013 2014
Production Consumption
Unit：1,000 million m³
China Energy Structure Reform
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Growing Momentum of China CBM Industry
Largely improved the coal mine safety: mining after gas production will help reduce the gas by 70%- 85%, thus largely reduce the incidence rate of coal mine gas explosion accident
Independent Energy Source
A new non-polluting energy with high calorific value It can effectively reduce emissions of greenhouse gases, and produce a good environmental effect
PPT模板下载：www.1ppt.com/moban/ 行业PPT模板： www.1ppt.com/hangye/ 节日PPT模板：www.1ppt.com/jieri/ PPT素材下载： www.1ppt.com/sucai/ PPT背景图片：www.1ppt.com/beijing/ PPT图表下载： www.1ppt.com/tubiao/ 优秀PPT下载：www.1ppt.com/xiazai/ PPT教程： www.1ppt.com/powerpoint/ Word教程： www.1ppt.com/word/ Excel教程：www.1ppt.com/excel/ 资料下载：www.1ppt.com/ziliao/ PPT课件下载： www.1ppt.com/kejian/ 范文下载：www.1ppt.com/fanwen/ 试卷下载：www.1ppt.com/shiti/ 教案下载：www.1ppt.com/jiaoan/CBM Advantages
Coal Mine Safety
CBM is a good alternative energy sources in order to solve future natural gas shortage issues
Environmental Protection
seam and methane (CH4) is the main gas content
together
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5400 wells, formation
production capacity of 3.1 billion m³
2010 the national CBM production reached 1.5 billion m³, 1.2 billion m³ of sales
proven CBM geological reserves achieve 198 billion m³, which is 2.6 times of “10th five year plan” period
“11th Five Year Plan”
m³
trillion m³
Qinshui Basin, Ordos basin eastern
billion m3
2020, 240 billion m3 CBM will be produced
two
biggest industrialization bases,
by
2020, reach the production of 8.3 billion m3
Precise Industry Supporting Policies
“12th Five Year Plan” “13th Five Year Plan”
Development Subsidies
The central authority granted the subsidy at RMB0.3/m
3 to CBM mining enterprises against
the CBM standards
Pricing
CBM price is based on the principle of market
The country does not set a price.
Resources Management
Reduction or exemption from the Use Fees for Mine Prospecting and Exploiting Rights before 2020 Ground extraction of CBM can be exempted from resources tax
Tax
Exempted from the value-added tax and import duties from the CBM exploration and development project during the 13th Five Year Plan
Financial Related
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Resource Advantage Good development potential Location Advantage Optimizing Business Model Technical Advantage
Business Diversification
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Located in Shanxi and Shaanxi Province，around Eastern Ordos Basin Block size
383 sq. km² (of which 2/3 or 283 sq. km ²has proved reserve) 30-year term Production Sharing Contract, PSC signed 28th March, 2006 Highest 70% working interest of foreign companies High saturation over 85%, good permeability of 3md compared with other CBM basins in PRC Rich Gas Content
15.4 m/³g (Or 1.54×10⁸m/³Km)². Approximate coal thickness of 9 meters in 2 gas pay zones
2006
period
2013
period
2015
period
2036
The ODP of Shanxi Sanjiao CBM Project has received the official approval from NDRC in Nov 2015 The 2nd Sino-foreign CBM concession to get the
Officially commence the sizable development and production with an annual capacity of 500 million m3 and enter production period Profit Sharing Ratio
30% 70%
China National Petroleum Corporation Sino Oil and Gas Holdings Limited
PetroChina Coalbed Methane Company Limited Orion Energy International Inc. National External Cooperation SanJiao CBM Project
Superior assets located in the best CBM block in China
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Block with reserve report to NDRC North block with 100Km2reserve report to submit
The RESERVE-US NSAI Competent Person’s Report
PSC and after 5% adjustment for compression and pipeline losses.
cubic meter. The net present value (“NPV”) at 10% discount of the future revenue of the reserve also increased 33% to approximately HK$11.498 billion.
Gross Gas Reserves On September 30 of 2015 On April 30 of 2010 1P Proved 1,408 bcf (Equivalent to approximately 4.0 billion cubic meters) Not applicable 2P Proved + Probable 2,922 bcf (Equivalent to approximately 8.3 billion cubic meters) 2,375 bcf (Equivalent to approximately 6.7 billion cubic meters) 3P Proved + Probable + Possible 7,053 bcf (Equivalent to approximately 20.0 billion cubic meters) 5,772 bcf (Equivalent to approximately 16.4 billion cubic meters) NPV (10%) US $ 1.478 billion (Equivalent to approximately HK $ 11.498 billion) US $ 1.11 billion (Equivalent to approximately HK $ 8.636 billion)
Source ： Netherland, Swell & Associates Inc. report (US, Dallas) as of 30 SEP 2015
Superior assets located in the best CBM block in China
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17 35 38 39 40 42 46 4 9 32 33 33
38 53 20 40 60 80 100 120 2010 2011 2012 2013 2014 2015 2016.06
HW VW
Number of Wells in Sanjiao CBM
99
7 17 17 17 17 17 7 17 18 18 18 18 12 24 39 39 39 42 20 40 60 80 100 2011 2012 2013 2014 2015 2016 (km)
Sales Pipeline Gas Collection Trunk Gas Collection Branch
Total 77 km pipelines completed in 2016
Accumulated Workdone:
Pipeline Construction: 42 km inter-well pipelines, 18 km ground pipeline network, 17 km outbound pipelines Power Grid: 59.7 km of high voltages power-grid system and 10KV power system pipelines CBM processing Station : Daily processing capacity of 270,000 m² Daily processing capacity will extend to 500,000 m²
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Proven ability of well drilling
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20 1. Sanjiao – Linxian Pipeline
2. Sanjiao – Senze Pipeline
(Producing flame resistant material and aluminum) 3. Sanjiao – Lvliang Pipeline planned to supply gas to Xiaoyi City and Eastern Shanxi Gas Network
mil m³ per day
Well established sales network to the target markets
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Attained technological breakthrough by obtaining two patents from State Intellectual Property Office of the PRC: The invention of single wellbore CBM multilateral well system and drilling method The method of single wellbore CBM multilateral well drilling and completion
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Original multilateral well design Newly formulated multilateral well design
needed Laterals Coal Cleat Cost
Improved US technology and built China 1st newly formulated multilateral well
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Responsible for CBM scientific research, exploration deployment, designation and onsite engineering Graduated from Anhui University of Science & Technology, major in Geology, awarded PhD in Geological Sciences by the China University of Petroleum (East China) Experienced in onsite and indoor research Has published 24 research papers in Acta Petrolei Sinica journals, research paper was awarded the 2nd prize of Science and Technology advancement in 2009 by China National Coal Association
Responsible for new horizontal wells drilling and onsite technical support, work as technical consultant in OEI since 2012 Over 34 years experience in the oil & gas industry, working as surveyor, district coordinator, directional driller and gained substantial experience in well planning, measure while drilling, logging while drilling technique Worked in varies US and international oil gas & company, e.g., Baker Hughes, Hallibuton, Blackmax and Sharwell Energy
Responsible for CBM onsite well planning, work as technical consultant in OEI since 2013 Over 31 years experience in the oil & gas industry, over 24 years well drilling experience Worked as senior project manager, vice president in several US and international drilling company and experienced in oversight of drilling operations from spud to total depth drilled, logging, completion and facility design
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Experienced technical team
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www.sino-oilgas.hk www.sino-oilgas.hk Drainage automation system is built using SCADA and star branching network topology. To achieve of gas wells transmitted data, CNG stations transmitted data, and sub-stations transmission data be centralized monitored and to allow unified management. To form data "automatic collection, centralized management“.
stations placed surveillance cameras and data collection systems in wellsite and CNG stations
Wellsite
repository monitoring center within the gas fields via the network
Monitoring Center
is transmitted to the monitoring
technical colleagues can make promptly data analysis and unified management
Workstation
Automated controlled wellsite
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Strengths of single-well model:
Lower production cost Controllable investment risks Higher investment returns
Group entered into a non-legally binding Strategic Cooperation Framework Agreement with Shanxi Guxian Lanhua Baoxin Coal Company Limited.
blocks in the surrounding area and expand the CBM market of Qinshui Basin in full force.
among the most representative CBM production bases in China. 24
Official entered Qinshui Basin and stated single-well investment
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Investment in Sanjiao Block of liquefied coalbed gas station
(LNG Designed Plan - As Actual) Partner 山西燃氣產業集團有限公司 山西新民能源投資集團有限公司 Percentage involved Sino Oil and Gas (30%) Liquefying Capacity Per Year 400 million m ³(OR 14.08 bcf) Per Day 1.2 million m ³(OR 42.24 mmcf) Cumulative Gas Production Assume period of production to be 25 years to liquefy total 338 bcf of coal seam gas Total Investment Amount Approximately RMB 800 million (OR US$ 128 million) SOG Stake Consideration RMB 50 million (OR US$ 8 million) Status
completed through public tende
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Possible Investment in Canada Alberta Conventional Oil fields
Status
geology research by surveying and mapping surface and subsurface geologic features so as to identify areas where oil and gas may have accumulated
potential for containing economically producible quantities of oil and gas
Target Acquisition
total of about 788 square kilometers
km of Calgary, Alberta, Canada
to support a minimum of 30 wells drilling
facilities, saving cost of road construction
Picture source: Google Maps
Alberta
Calgary
Mikkwa mining area 26
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Sanjiao Project Development Plan 2016 Financial Summary
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The ODP of Shanxi Sanjiao CBM Project has received the official approval from NDRC in Nov
ODP, commence the sizable development and production with an annual capacity of 500 million m3.
Overall Planning
Coalbed
current well network to improve, then expand to the surroundings area, commencing “Rolling Development”
Sanjiao Project Development Plan 2016
28 Well Types
Multilateral well + vertical well/ vertical well cluster Shallower than 700m – mainly multilateral well Deeper than 700m-- mainly vertical well/ vertical well cluster
Development Teams
18 drilling teams, 2 fracturing units, 7 underground production team, as well as ground pipeline network, inter-well pipelines, grid system, wellsite standardization, pilot testing teams, totally over 30 teams to kick off the comprehensive construction work
Target Production Capacity
By the end of 2016, target CBM production capacity of 250 million cubic meters will be completed
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35,079 28,932 21,598 16,540 10,610 550 9,110 38,899 63,441 87,237
10,000 20,000 30,000 40,000 50,000 60,000 70,000 80,000 90,000 100,000 2011 2012 2013 2014 2015
The composition of the main income
Crude Oil Sales CBM Sales Raw Coal Washing and Raw Coal Sales Unit：1,000 HKD
1,920 4,250 12,490 17,970 20,530 23,730 27,380 30,290 12% 27% 62% 71% 90% 97% 98% 96%0% 20% 40% 60% 80% 100% 120% 5,000 10,000 15,000 20,000 25,000 30,000 35,000 1H2012 2H2012 1H2013 2H2013 1H2014 2H2014 1H2015 2H2015
CBM sales and Production ratio
CBM Sales CBM Production Ratio Unit：1,000 cubic meters
3,937,213 3,935,973 4,275,399 4,699,179 3,503,000 3,060,956 3,023,174 3,447,237 4,053,989 4,666,000500,000 1,000,000 1,500,000 2,000,000 2,500,000 3,000,000 3,500,000 4,000,000 4,500,000 5,000,000 2011 2012 2013 2014 2015 總資產 淨資產 Unit：1,000 HKD
47,868
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recognised as other revenue. After the Group has obtained the approval of ODP in November 2015, the Sanjiao CBM Project is stepped into the production stage, and the sales of CBM for the December 2015 is recognised as turnover. ** Revenue after deducting the non-cash expense generated from the assets impairment of oilfields in Shaanxi Province and the equity- settled share-based payment granted from share option scheme.
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* Interest-bearing liabilities divided by total assets. 30
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Sanjiao Linxian pipeline 7.3% Sanjiao Senze pipeline +Hedong pipeline 92.7%
2015 Piped gas accounted for 100% of total gas sales (Industrial pipeline gas users accounted for 92.7%) 2015 ( ) 2014 ( ) Increase (%) 59.34 47.28 25.5% 57.67 44.26 30.3% 97.2% 93.6% 3.6% 0.6 6.15 30.45 44.26 57.67 14.27 32.05 45.45 47.28 59.34 10 20 30 40 50 60 70 2011A 2012A 2013A 2014A 2015A CBM Sales (million m³) CBM Production (million m³)
Commencement of piped gas sales 2015
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This document has been prepared by Sino Oil and Gas Holdings Limited (“Sino Oil and Gas” or the “Company” ) for the sole purpose of briefing by the Company, and copying and delivery to others are strictly prohibited. Since the dissemination
this document shall have a clear understanding of and comply with such laws and regulations. The information contained in this document has not been verified independently. There are no explicit or implied representations or warranties as regards the fairness, accuracy, integrity or correctness of the information contained in the document. This document is not intended to provide a complete or comprehensive analysis of the financial or trading position of the Company or its
this document. The information and opinions provided in this document is up to date as at the date of this briefing and might be subject to changes in the future in respect of which no further notice will be issued. The Company and its affiliated companies, advisors or representatives disclaim any liability whatsoever for any loss howsoever arising from using this document or its contents or from other aspects of this document (whether this is caused by negligence or other reasons). The information provided to you in this document does not constitute, or form part of any offer for subscription or sale of,
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Contact:
Responsible: Investor Relations Department Address:
Unit 3707-08, West Tower, Shun Tak Centre, 168-200 Connaught Road Central, Sheung Wan, Hong Kong
Email: contact@sino-oilgas.hk Tel: +852 2802 3623 Fax: +852 2802 3362