Investor Presentaiton
MIE Holdings Corporation
MIE Group update and highlights
2014 first-half results highlights
Operational highlights
Group gross oil production reached 26,961 BOPD, up 3.5% from 1H2013
Financial highlights
1H2014 average oil price realised down by US$3.16/bbl or 3.2% to
US$96.02bbl compared to 1H2013
Group net oil production of 16,558 BOPD, an increase of 15.5% compared
to same period in 2013 and above full year guidance range of 15,300 -
16,300 BOPD
Emir-Oil recorded significant increase reaching 5,269 BOPD,
representing a 52.5% growth from 1H2013
1H2014 Net:Gross ratio of 52% for China oilfields (compare to 1H2013
Net: Gross ratio of 48% (1))
ā 1H2014 Revenue reached US$294.9 mm, representing a 12.9% increase
from same period in 1H2013
Emir-Oil
ā Obtained official approval from Kazakhstan government on the
construction of Central Processing Facility (CPF)
Extension of ADEK exploration contract moving forward smoothly
EBITDA maintained at US$161.8mm, representing a 5.1% increase from
same period in 1H2013
Successful issue of US$500mm 5-year Notes at coupon rate 7.50% in April
SGE
CRR for East Block of Linxing PSC has been granted final approval
Encouraging gas flow test results for vertical well TB-26 and horizontal
well TB-1H
Entered into committed unsecured facility of up to US$35 mm with
Deutsche Bank in May
Completed full US$90 million cash call obligations into SGE for 51% equity
interest in SGE
(1) Net:Gross ratio calculated based on production volume
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