2013 First Half Financial Results Investor presentation on results for six months ended 31 December 2012 25 February 2013
Important Notice – Disclaimer The information in this presentation: Is not an offer or recommendation to purchase or subscribe for shares in Cooper Energy Limited or to retain or sell any shares that are currently held. Does not take into account the individual investment objectives or the financial situation of investors. Was prepared with due care and attention and is current at the date of the presentation. Actual results may materially vary from any forecasts (where applicable) in this presentation. Before making or varying any investment in shares of Cooper Energy Limited, all investors should consider the appropriateness of that investment in light of their individual investment objectives and financial situation and should seek their own independent professional advice. Competent Person This report contains information on Cooper Energy’s petroleum resources which has been reviewed by Mr Hector Gordon who is a full time employee of Cooper Energy, holds a Bachelor of Science (Hons), is a member of the American Association of Petroleum Geologists and the Society of Petroleum Engineers and is qualified in accordance with ASX listing rule 5.11 and has consented to the inclusion of this information in the form and context in which it appears. Hydrocarbon Reporting Standard Cooper Energy reports hydrocarbons in accordance with the SPE Petroleum Resources Management System 2007 (SPE-PRMS). INVESTOR PRESENTATION 25 February 2013 2
Company snapshot 160 Capital structure 150 Indexed Performance (%) 140 Share price $0.40 - $0.69 range,12 months to 22 February 2013 130 Shares on issue 329.0 mill 120 Market capitalisation 110 $172.7 mill 52.5c on 22 February 2013 100 Cash, term deposits & investments $77.9 mill 90 at 31 December 2012 80 Debt Nil Shareholders Top 20 ~64% COE Share Price (A$) S&P/ASX 300 Energy Accumulation Index Funds/Corp ~67% on 22 February 2013 INVESTOR PRESENTATION Added to ASX 300 25 February 2013 3
Our strategy and business INVESTOR PRESENTATION Leveraging strengths for TSR 25 February 2013 4
2013 First half - key messages Financial Results: Solid and in-line with activities – Sales revenue of $23.4 million, marginally down from $25.8 million (pcp) – Total Profit Attributable to Members of $4.6 million up from $(4.1) million (pcp) – Profit from Continuing Operations of $4.9 million, down from $8.3 million (pcp) – Cash and Investments increased to $77.9 million from $74.7 million at 30 June 2012 Production and Exploration: Good results and momentum – Production of 213 kbbls oil vs pcp 225 kbbls as Lycium to Moomba pipeline start-up deferred some production – 2 nd half production expected to be at least 35% higher than 1 st half with full year expectation of 500 to 550 kbbl – 80% drilling success - PEL 92 drilling program yields 4 successes from 5 wells – Reserve additions from drilling program to December 2012 expected to exceed first half production Strategy and Development: Business foundation strengthened and strategy implementation going to plan – Australia focus and growth – Head office relocated to Adelaide – John Conde AO - Chairman succession announced 25 February 2013 – Cash and investment position provides strong capital foundation for strategy execution Strong foundation made stronger INVESTOR PRESENTATION 25 February 2013 5
Production and financial results Six months ending: 31 Dec 2012 31 Dec 2011 Change Oil produced & sold kbbl 213 225 -5% Average A$ oil price $/bbl 110 115 -4% $’000 Sales revenue 23,368 25,803 -2,435 $’000 Other revenue 1,486 2,761 -1,275 Profit after income tax from continuing operations $'000 4,890 8,329 -3,439 Total profit attributable to members $'000 4,561 -4,103 8,664 as at: 31 Dec 2012 30 Jun 2012 Change Cash and term deposits $'000 47,571 61,461 -13,890 Investments available for sale $'000 30,337 13,203 17,134 INVESTOR PRESENTATION Solid & in line with activities 25 February 2013 6
Movement in financial assets 23.0 17.9 Investments Investments 13.2 available for available for 4.3 30.3 sale at fair value 63.6 7.3 sale at fair value 1.3 61.5 8.8 0.1 47.6 Cash at Cash at Cash generated by Cash applied 30 June 2012 31 Dec 2012 operations to Exp, Dev & + $2.1m Investments - $16.0m 0 Jun-12 Receipts Payments Tax Interest Operating E & D Invest. FX Dec-12 Generating and re-investing INVESTOR PRESENTATION 25 February 2013 7
Production outlook Average bbls/day, (Australia & Indonesia) 2,500 2,000 FY 2013 guidance: 500 - 550 kbbls 1,500 1,000 500 Pipeline commences - Jun-12 Aug-12 Oct-12 Dec-12 Feb-13 Apr-13 Jun-13 Trending upwards INVESTOR PRESENTATION 25 February 2013 8
Australia focus Cooper, Otway and Gippsland Basins Cooper Basin Western flank oil Gas potential Otway Basin Conventional and unconventional – oil and gas plays Gippsland Basin Gas resource exposure Reviewing & screening opportunities Nearby infrastructure and low cost INVESTOR PRESENTATION 25 February 2013 9
2013 Second half activity production Increase reserves Book inventory Grow expl. management Portfolio Cooper Basin Up to 6 wells (exploration, appraisal and development); 753 km 2 3D √ √ √ √ Otway Basin 1 well (exploration); conventional and unconventional (oil and gas) √ √ Tunisia 1 well (exploration); Nabeul farm-out √ √ Indonesia 1 well work-over; high grading low/medium risk opportunities to grow √ √ √ √ production and reserves; farm-out Sumbagsel Corporate opportunities Corporate √ √ √ √ INVESTOR PRESENTATION 25 February 2013 Strong foundation and material upside 10
Cooper Basin 6 wells plus seismic INVESTOR PRESENTATION 25 February 2013 11
Otway Basin Sawpit -2 plus Casterton Shale INVESTOR PRESENTATION 25 February 2013 12
Tunisia Hammamet West-3 plus farm- out INVESTOR PRESENTATION 25 February 2013 13
Indonesia Growing reserves and production INVESTOR PRESENTATION 25 February 2013 14
Summary Cash plus investments up and reserves/resource base growing Implementing strategy and plans • head office moved, Chairman appointed, new team in place • increased focus on Eastern Australia Production growth • Australia & Indonesia • screening acquisitions Activity increasing significantly including company changing opportunities • Tunisia and Otway drilling • corporate activity Implementing strategy focused on shareholder return • building value and position in core areas • prudent cost management • Australia gas market opportunities • remuneration closely linked to company performance Increasing activity & enhancing value INVESTOR PRESENTATION 25 February 2013 15
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