Horizon Oil (HZN) 2020年年度报告「ASX」.pdf

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1、 Strengthened balance sheet with return to net cash despite economic headwinds Consistent strong production with sales volume maintained above 1.4 mmbbls Accelerated debt reduction with 101%reduction in net debt in FY20 Maintenance of low operating costs driving strong cashflow and EBITDAX 2P reserv

2、es added in China resulting from exploration success and further commitment to development2020 Highlights 1Chairmans Message 2CEOs Message 3Reserves and Resources Statement 4Activities Review 10Annual Financial Report 16Shareholder Information 113Glossary 116Corporate Directory 1172020 INVESTMENT HI

3、GHLIGHTSUNDERLYING PROFIT BEFORE TAXUS$15 millionSALES VOLUME1.43 mmbblsRETURN TO NET CASHUS$0.5 millionNet Debt Reduction of US$28.4 millionSALES REVENUEUS$84 million2P RESERVES50%reserves replacement ratioEBITDAXUS$50.6 millionAREAS OF OPERATIONOIL SALES(mmbbls)REVENUE1(US$m)EBITDAX(US$m)UNDERLYIN

4、G PROFIT BEFORE TAX(US$m)Looking ahead,we intend to further strengthen the Horizon balance sheet and to augment it by identifying growth opportunities for the company.MaariBeibuCost recovery entitlementCost recovery entitlementCHINABlock 22/12 26.95%/55%(Production/Exploration)PAPUA NEW GUINEAPDL 10

5、(Stanley)30%PRL 21(Elevala/Ketu)30.15%PRL 28(Ubuntu)30%PRL 40(Puk Puk/Douglas)20%PPL 372 95%PPL 373 100%PPL 574 80%NEW ZEALANDPMP 38160(Maari/Manaia)26%1.430.830.600.580.480.320.471.871.000.860.800.901.651.421.380.300.310.29FY20FY19FY18FY17FY1684.046.860.9100.0122.476.068.550.938.035.537.142.331.216

6、.440.5FY20FY19FY18FY17FY160.114.218.019.250.693.068.545.254.0FY20FY19FY18FY17FY1650.573.850.531.054.019.218.014.20.18.72.218.937.315.0FY20FY19FY18FY17FY16(8.7)(12.0)14.90.118.10.919.218.014.2MaariExcl.cost recovery1 Net of hedge settlementsBeibuCost recovery(Excl.cost recovery)Cost recoveryCHINANEW