INVESTOR PRESENTATION
September 2016
Exploration and Beyond…
working to increase the value and
- utput of active reservoirs
INVESTOR PRESENTATION September 2016 Exploration and Beyond - - PowerPoint PPT Presentation
INVESTOR PRESENTATION September 2016 Exploration and Beyond working to increase the value and output of active reservoirs Disclaimer The content of this presentation has not been approved by an authorised person within the meaning of
working to increase the value and
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FSMA
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– Completion of 2 surveys (Snorre and Grane) as part of the ongoing contract to provide seismic source services to Statoils PRM activities in the North Sea
– Redesign of Autonomous Node completed – Prototype under construction – Prototype initial testing targeted for Q4 2016
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Group Revenue
$4.0 $11.6 $9.3 $9.9 $5.2 $10.0 $19.0 $6.2 $9.0
$0.0 $5.0 $10.0 $15.0 $20.0 $25.0 $30.0 $35.0 2012 2013 2014 2015 2016 1H 2H $1.9 $2.6 $4.0 $4.2 $2.9 $3.0 $6.7 $2.6 $5.2
35.30% 30.40% 42.60% 49.90% 56.70%
0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% $0.0 $1.0 $2.0 $3.0 $4.0 $5.0 $6.0 $7.0 $8.0 $9.0 $10.0 2012 2013 2014 2015 2016 1H 2H Gross Margin
Gross Profit Operating Profit (EBITDA) Net Profit
$0.4 $1.3 $1.5 $0.5 $1.1 $2.9 $0.2 $2.2 13.70% 16.10% 1.20% 19.50% 11.20% 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% $0.0 $0.5 $1.0 $1.5 $2.0 $2.5 $3.0 $3.5 $4.0 $4.5 2012 2013 2014 2015 2016 1H 2H Operating Margin $0.3 $1.0 $0.4 $0.8 $0.9 $3.4
$0.2 8.6% 14.4%
3.7% 15.3%
0.0% 5.0% 10.0% 15.0% 20.0%
$0.0 $1.0 $2.0 $3.0 $4.0 $5.0 2012 2013 2014 2015 2016 1H 2H Net Margin
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$10.3 $51.2 $39.4 $25.9 $26.4 $0.77 $2.04 $1.57 $1.12 $1.17 $0.00 $0.50 $1.00 $1.50 $2.00 $2.50 $0.0 $10.0 $20.0 $30.0 $40.0 $50.0 $60.0 2012 2013 2014 2015 2016
Net Assets $m's
NAV NAV per share $2.5 $32.2 $17.7 $20.3 $13.2 $0.19 $1.29 $0.71 $0.86 $0.59 $0.00 $0.20 $0.40 $0.60 $0.80 $1.00 $1.20 $1.40 $0.0 $5.0 $10.0 $15.0 $20.0 $25.0 $30.0 $35.0 2012 2013 2014 2015 2016
Net Cash $m's
Net Cash Cash per Share
Statoil
satisfaction over Grane and Snorre
reducing technical downtime and increasing
ConocoPhillips (“COP”)
in Sep 16
PMSSTM
commenced
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WGP
2016
data QC to commence September 2016 following assembly, shake down and testing of the equipment
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in 2015, further presentation at EAGE generating considerable interest
prototype node commenced
Fluid Dynamics (CFD) performed with targeted improvements in node efficiency and stability included in first design
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Thalassa
for £400k.
the Board of Papua to work with the current Board to formulate a profitable, cash generative growth plan.
which represents 23.14 per cent of its issued share capital.
with a view to reviewing and changing LSR’s investment policy approved in July 2013.
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2016E 2015A Imputed Equity Value $5.0m $5.0m Intercompany Debt $12.0m $16.7m Cash $1.2m $11.6m Imputed Enterprise Value $15.8m $9.8m
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2016E 2015A Sales $10.5m $18.8m Operating Profit / (Loss) before depreciation (EBITDA) $2.4m $6.2m Operating Profit / (Loss) (EBIT) $1.5m $4.1m Profit before Tax (EBT) $1.1m $3.2m Profit after Tax ( E ) $0.8m $2.6m
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Imputed Market Value Ratios 2016E 2015A P/Sls 0.48x 0.27x P/EBITDA 2.08x 0.80x P/EBIT 3.29x 1.22x P/EBT 4.51x 1.54x P/E 6.23x 1.96x
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Imputed EV Ratios
2016E 2015A EV/Sls 1.50x 0.52x EV/EBITDA 6.58x 1.57x EV/EBIT 10.39x 2.40x EV/EBT 14.25x 3.02x EV/E 19.68x 3.84x