AGM 21 May 2010 Forward looking statements This presentation may - - PowerPoint PPT Presentation

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AGM 21 May 2010 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

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AGM 21 May 2010

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AGM, 21 May 2010

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.

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AGM, 21 May 2010

Target and strategy

Target

Build three quality

businesses which deliver 100 kboepd from 400 mmbbls of reserves Strategy

Attain 75 kboepd from

existing projects

Commercialise contingent

resource base

Add 200 mmboe of

2P reserves from the exploration portfolio

Make value-adding

acquisitions in three core areas

Maintain a conservative

balance sheet

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AGM, 21 May 2010

Five-year performance

Production 2005-2009 (kboepd)

50 45 40 35 30 20 25 2005 2006 2007 2008 2009

2P Reserves 2005-2009 (mmboe)

300 250 200 100 150 2005 2006 2007 2008 2009

Operating Cashflow 2005-2009 ($million)

400 300 250 200 150 50 100 2005 2006 2007 2008 2009 350

Acquisitions 2005-2009 Oil price ($/bbl)

140 80 60 40 2005 2006 2007 2008 2009 120 100 20

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AGM, 21 May 2010

Production and development forecast

Production forecast (kboepd net)

50 40 20 10 2010 2011 30 60 2014 2012 2013 70 80

Risked appraised developments Huntington Asian developments On production Chim Sao Project: 75% complete Gajah Baru Project: 52% complete Huntington Project: Letter of Intent signed for FPSO

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AGM, 21 May 2010

Exploration outlook

Contingent Wells Firm Wells: Rig Contracted Firm Wells: Rig TBC Seismic Programme All well timings are subject to revision for operational reasons

Unrisked net potential new barrels over next 12 months of 250 mmboe

Bluebell P1466 Lacewing P101, P1181

Oates P1620 CRD Appraisal

Q4 2011

Catcher P1430 UK Grosbeak Appraisal PL378 Gnatcatcher PL378 Gardrofa PL406 (8/3) Norway

North Sea

Lead B Buton Belut Laut Gajah Laut Utara Tuna Indonesia Seismic 104/109-05 Seismic (contingent) 07/03 Vietnam

Q2 Q3 Q2 2010

Asia

Galaxy II (STC) Maersk Guardian Ocean General Ocean General Songa Delta Songa Delta ENSCO 100

2010 full year expenditure $150mm pre-tax

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AGM, 21 May 2010

Road map

End 2012

Run-rate production of 75 kboepd with

related cash flow expansion

Follow-on portfolio of development

projects to add 10-15 kboepd

Significantly increased reserve base
Fully evaluated Nam Con Son basin
pportunity
Replenished exploration portfolio in new

areas of existing geological knowledge

Three quality growing businesses

End 2010

Stable production from established

assets

Development drilling commenced on

key projects in Indonesia and Vietnam

New project approvals
Exploration programme completed
10-20 prospects brought to drillable

status for 2011 / 2012 programme

We expect to make further acquisitions in our core areas

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AGM, 21 May 2010

Resolution 1

5,382 1.49 1,121,172 98.37 73,993,199

Votes % Votes % Votes Withheld Against For

Adoption of the Report of Directors, the Auditors’ Report, and the Financial Statements of the Company for the year ended 31 December 2009

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AGM, 21 May 2010

Resolution 2

2,616,284 6.33 4,593,687 93.53 67,909,704

Votes % Votes % Votes Withheld Against For

Approval of the Remuneration Report for the year ended 31 December 2009

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AGM, 21 May 2010

Resolution 3

18,338 0.29 220,794 99.57 74,879,433

Votes % Votes % Votes Withheld Against For

Election of Mr M W Welton as a Director

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AGM, 21 May 2010

Resolution 4

243,010 3.81 2,859,418 96.05 72,015,170

Votes % Votes % Votes Withheld Against For

Re-election of Mr J R W Orange as a Director

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AGM, 21 May 2010

Resolution 5

10,099 1.51 1,132,723 98.35 73,973,165

Votes % Votes % Votes Withheld Against For

Re-election of Mr S C Lockett as a Director

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AGM, 21 May 2010

Resolution 6

14,207 0.21 158,421 99.65 74,943,241

Votes % Votes % Votes Withheld Against For

Re-election of Professor D G Roberts as a Director

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AGM, 21 May 2010

Resolution 7

226,966 4.91 3,680,124 94.94 71,202,144

Votes % Votes % Votes Withheld Against For

Reappointment of Deloitte LLP as auditors

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AGM, 21 May 2010

Resolution 8

117,171 0.66 496,162 99.18 74,487,108

Votes % Votes % Votes Withheld Against For

Authority to issue a limited number of shares in the Company per s551 Companies Act 2006

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AGM, 21 May 2010

Resolution 9

14,350 0.10 77,757 99.72 74,999,168

Votes % Votes % Votes Withheld Against For

Authority to disapply pre-emption rights

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AGM, 21 May 2010

Resolution 10

104,160 1.36 1,023,648 98.48 73,971,945

Votes % Votes % Votes Withheld Against For

Authority to purchase own shares

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AGM, 21 May 2010

Resolution 11

50,470 2.20 1,653,621 97.63 73,391,037

Votes % Votes % Votes Withheld Against For

Authority to hold general meetings on 14 clear days’ notice

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AGM, 21 May 2010

Resolution 12

754,503 0.14 107,171 99.67 74,222,622

Votes % Votes % Votes Withheld Against For

Adoption of new Articles of Association

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AGM, 21 May 2010 www.premier-oil.com