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Hunting PLC. Corporate Strategy Maximise Global Footprint Continuance of Market Share Strength Proprietary Technologies Asset Utilisation. 2. 2006 Half Year Results Summary. 3. Revenue and Profit from Operations. 4. Financial. 5. Capital Expenditure. 6. Cash Flow. 7.

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Hunting plc

Hunting PLC

Corporate Strategy

  • Maximise Global Footprint

  • Continuance of Market Share Strength

  • Proprietary Technologies

  • Asset Utilisation

2


2006 half year results summary

2006 Half Year Results Summary

3


Hunting plc

Revenue and Profit from Operations

4


Financial

Financial

5


Capital expenditure

Capital Expenditure

6


Cash flow

Cash Flow

7


Hunting plc

Gibson Energy

8


Hunting plc

Gibson EnergyProfit from Operations

9


Gibson energy

Gibson Energy

10


Gibson energy marketing activities

Gibson EnergyMarketing Activities

  • Buy, sell trade 250k bbls/day

    • Crude Oil – Light, Heavy, Bitumen

    • Diluent (Natural Gas Condensate)

    • LPG, Natural Gas, Propane

    • Wellsite Fluids

  • Ten strategically placed custom terminals used for quality management

  • Specialized skills in trading, risk management, logistics systems, control

  • Marketing assets throughout Western Canada, together with trucks and strategically placed pipelines. A creation of time and quality based arbitrage can occur in virtually any market condition

  • Over 20 grades of Canadian crude are aggregated on multiple feeder pipeline systems giving multiple sources of arbitrage

11


Gibson energy marketing opportunities

Gibson EnergyMarketing Opportunities

  • Expansion of assets

    • Physical and financial

  • Athabasca heavy oil volume growth

  • Increased gas market share

  • Expansion of Wellsite Fluids business

  • Emerging Carbon Dioxide markets

  • Volatility

    £m

    040506 (6mos)

    Profit from Operations 7.0 10.7 7.8

12


Gibson energy truck transportation activities

Gibson EnergyTruck Transportation Activities

  • 600 tractor units, 1,000 trailer units – largest crude oil fleet in Western Canada

  • 250,000 bpd hauling capacity

  • HSE excellence

  • Synergies between business units

13


Gibson energy truck transportation opportunities

Gibson EnergyTruck Transportation Opportunities

  • Tar sand growth

  • Enhanced margins in growing business environment

  • Diversify by growing chemical, asphalt and Wellsite Fluid hauling

  • Lead industry in “next generation” trailers

  • Invest replacement capital in multi-functional trailers

  • State of the art onboard computer system

    • electronic data capture

    • real time invoicing and custom billing

    • web access

    • compliance and driver monitoring

      £m

      040506 (6 mos)

      Profit from Operations 2.6 4.9 4.1

14


Gibson energy terminals and pipelines

Gibson EnergyTerminals and Pipelines

Oil Terminals and Pipelines % of Gross

Margin by Facility

15


Gibson energy hardisty terminal

Gibson EnergyHardisty Terminal

  • Largest of the Gibson Terminal facilities

    • 1.6 million barrels of storage

    • 250k bpd throughput

    • Strategic location

    • Large land position surrounding existing site

      available for expansion

16


Gibson energy edmonton south terminal

Gibson EnergyEdmonton South Terminal

  • Handle 100% of diesel produced by Suncor facility in

    Fort McMurray (10 year T.O.P. contract)

  • Receive product by pipeline and load to rail and trucks

  • Receive crude oil and condensate by pipeline, truck and rail in support of Gibson Marketing blending operations

  • Commissioning new rail facility to handle 100% of Petro-Canada’s low sulphur diesel (10 year T.O.P. contract)

17


Gibson energy edmonton north terminal

Gibson EnergyEdmonton North Terminal

  • New facility – 310K barrel capacity

  • Pipeline connected to feeder pipeline systems to facilitate receipt of crude oil and condensate in support of Gibson Marketing blending operations

  • Connected to Enbridge mainline and Transmountain export pipelines

18


Gibson energy canwest operations

Gibson EnergyCanwest Operations

  • Second largest propane company in Canada

  • Operations in British Columbia, Alberta, Saskatchewan, Washington State

  • 12 branches and 27 storage facilities

  • 145 fully equipped, delivery and service vehicles

  • 128 branches, operational and sales personnel

19


Gibson energy moose jaw asphalt

Gibson EnergyMoose Jaw Asphalt

  • Processing and Distribution

    • Road asphalt

    • Roofing Flux

    • Tops and distillate

    • Wellsite Fluids

    • Off-road diesel fuel

20


Gibson energy moose jaw asphalt opportunities

Gibson EnergyMoose Jaw Asphalt Opportunities

  • Plant utilisation

  • Roofing Flux market growth

  • Expanded frac/distillate/diesel/tops

  • Regional storage

  • Taking advantage of multiple crude stream access

21


Hunting plc

Hunting Energy

22


Hunting plc

Hunting EnergyProfit From Operations

23


Hunting energy business platforms

Hunting EnergyBusiness Platforms

  • Well Construction:

    • Providing the market manufactured products, engineering expertise and services in the construction of oil and gas wells along with trenchless boring applications.

  • Well Completion:

    • Providing the market manufactured products, proprietary technologies, engineering expertise and services in both below and above the well head for oil and gas wells.

  • Exploration and Production:

    • Invest at an average 10% of well cost as non operating partner with select independent oil and gas companies. Providing products and services to the operator as preferred supplier.

24


Hunting energy

Hunting Energy

18%

25


Hunting energy well construction

Hunting EnergyWell Construction

  • Mud Motors:

    • Straight hole motors

    • Directional motors

    • Shock tools

    • SWB “near bit” motors

  • Trenchless Technologies:

    • “Firestick” drill stem

    • 2 step tubing threading

    • Manufactured products for underground construction technology

26


Hunting energy well construction1

Hunting EnergyWell Construction

  • Premium Connections:

    • Patented premium connection technology for deep well applications

    • Annular pressure release system for deep water applications

    • Customer specific engineered products

  • Canadian Operations:

    • Largest coupling manufacturer

    • 140,000 sq/ft enclosed facility

    • Leveraged to heavy oil

27


Hunting energy well completion

Hunting EnergyWell Completion

  • U.S. Manufacturing:

    • Accessories and completion equipment for oil and gas wells

    • Specialty threading

    • Print work manufacturing

    • OEM manufacturing

  • Asia Pacific Operations:

    • Manufacturing of completion equipment

    • Specialty threading

    • OCTG sales

    • Hauxin joint venture

28


Hunting energy well completion1

Hunting EnergyWell Completion

  • Canadian Manufacturing:

    • Accessory and completion equipment

    • Print work

  • Aberdeen:

    • Chrome tubular contracts in the North Sea

    • Specialty threading

    • Accessory and completion equipment

  • Holland:

    • Specialty threading

    • Accessory and completion equipment

29


Hunting energy well completion2

Hunting EnergyWell Completion

  • U.S. Pipe:

    • Leading market position in the US for 2 step tubing

    • Exclusive arrangement for U.S. steel premium tubing

    • Thread protectors

  • Well Intervention:

    • Pressure control equipment

    • Lubricators and well head equipment

    • Coiled tubing and Slickline tools

    • Clam Blow Out Preventors

30


Hunting energy exploration production

Hunting EnergyExploration & Production

  • Number of wells drilled through June 30: 12

  • Number of Successes: 9

    • Offshore: 8

    • Onshore: 1

  • Reserve replacement at June 30: 100%

  • Production through June 30: 192,803 net equivalent

    barrels

31


Hunting energy opportunities

Hunting EnergyOpportunities

  • Geographical expansion

  • Environmentally sound thread compound

  • Titanium

  • Annular Pressure Release System

  • Expansion of Chinese relationship

  • Continued investment in human capital

  • Expansion of product offering

  • Growth of “above the wellhead” technology

32


Hunting plc

Others

Profit From Operations

33


Rig count

Rig Count

Source: Baker Hughes, Spears and Associates

34


Average oil and gas pricing

Average Oil and Gas Pricing

Source: EIA

35


Hunting plc

Hunting PLCConclusions

  • Continued Strong Commodity Fundamentals

  • Continued E&P Spend and Project Development

  • Geopolitical Uncertainty

  • Challenged Production Capability

  • Reserve Replacements / Depletion Rates

  • Demand will Continue to Rise

36


Hunting plc outlook

Hunting PLCOutlook

  • Hunting Will Continue:

    • Maximise asset utilisation

    • Increase capacity with customer assurances

    • Push new technologies, products and services further

    • Examine acquisition opportunities that meet financial criteria

    • Deliver results

37


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