HORIZON OIL LIMITED FULL YEAR RESULTS PRESENTATION
AUGUST 2021
HORIZON OIL LIMITED | ABN 51 009 799 455
FY21 FULL YEAR HIGHLIGHTS
PRODUCTION AND FINANCIAL METRICS WITHIN / EXCEEDING FY21 GUIDANCE RANGE
Production Volume | Sales Revenue | EBITDAX |
1.33 MMbbl | US$63.6 million | US$36.4 million |
Net Cash | Underlying Profit after Tax | Cash on Hand |
US$31.7 million | US$7.8 million | US$44.4 million |
FY21 RESULTS PRESENTATION | 26 AUGUST 2021 | PAGE 2 | |
FY21 EXECUTIVE SUMMARY
STRONG CASHFLOW DRIVING VALUE FOR SHAREHOLDERS
NET CASH | RETURNS TO | STRONG | REDUCED | |||
US$32 MILLION | SHAREHOLDERS | PRODUCTION | COSTS | |||
FY21 RESULTS PRESENTATION | 26 AUGUST 2021 | PAGE 3 | |
FINANCIAL RESULTS
2021 FULL-YEAR HIGHLIGHTS
LOW COST, CASH GENERATIVE OIL PRODUCER
- Cashflow positive during low oil prices - cashflow from operating activities of US$23.2 million
- Strengthened balance sheet -net cash of US$31.7 million at 30 June 2021, an increase of US$31.2 million during the financial year
- Efficient operations - continued rationalisation of operating costs <_us24_20>
- Drilling activities - investment during the low oil price environment resulted in increased production as the oil price strengthened
- Workovers - 10 workovers across both fields safely completed
- Capital management initiatives - return of capital to shareholders through on-marketand off-market buy-backsof 23.0 million shares and announced A$47.4 million share capital return
- Environmental, Social & Governance (ESG) - continued focus with no losses of containment, strong safety record (TRIFR 1.02)
Resilient cashflow despite COVID-19 pandemic
which impacted operations and oil prices
FY 2021 | FY 2020 | |
Production Volumes (MMbbl) | 1.33 | 1.48 |
Sales Volumes (MMbbl) | 1.27 | 1.43 |
Revenue (USD) | $63.6 million | $84.0 million |
EBITDAX (USD)1 | $36.4 million | $51.4 million |
Underlying Profit after tax | $7.8 million | $8.3 million |
(USD)1 | ||
Statutory Profit/(Loss) after | $8.0 million | ($55.1 million) Loss |
tax (USD) | ||
Net Cash (USD) at 30 June | $31.7 million | $0.5 million |
Cash (USD) at 30 June | $44.4 million | $25.9 million |
1 Excludes profit/loss from PNG discontinued operations
FY21 RESULTS PRESENTATION | 26 AUGUST 2021 | PAGE 5 | |
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Horizon Oil Limited published this content on 26 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 August 2021 23:40:06 UTC.
