easy evaluation_introduction leaflet

8/10/2019 EASY EVALUATION_Introduction Leaflet

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OMV Exploration & Production

Move & More.

QUICK EVALUATION

Introduction Leaflet

November 2011

Economics

Valid

for

Excel-tool

EASYEVALUATION pre-tax

in its

Version1.0 of June

2011 (designed

for

Excel

Version 2003 and 2007)


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3 | E&P - Economics, Project Economic Quick Evaluation / November 2011

Goal, Purpose, Target Group

Goal is to provide each OMV-colleague involved in projects with the possibility to evaluate

economics of a single project quickly & easily on pre-tax basis.

Main purposes

Project Evaluation within 15 minutes.

Additional evaluation of sensitivities to BASE Case in real time.

(Selectable) sensitivities to project economics key drivers (Internal Rate of Return, Net Present

Value, Profitability Index) calculated & shown by selectable years.

Target Analysis of the BASE Case & all its sensitivities.

INPUT DATA (e.g.CAPEX, OPEX,

Production)INPUT

Quick Economic

Evaluation of Project(pre-tax)

Sensitivity-, Scenario-

& Target Analysis

Printed-out

report

ofentire

Evaluation &

Sensitivities

etc

OUTPUT

EASY EVALUATION-model

1.

2.

3.


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First steps: Opening the tool

I M P O R T A N T !

All macros

have

been

developed

entirely

by

OMV/CPM/Project Portfolio Managementinhouse

& can

be

therefore

safely

used.

Enable

Macros

when

opening

the

file,

otherwise

tool

can

not

calculate.

Screen resolution: Tool has been

developed

for

a resolution

of 1440 x 900

pixel. In case

you

do not

see

the

full

screen

the

tool

provides

you

an automatic

screen

view-adjustment

on the

sheet

2_Scenario Dashboard

Tool has been

developed

in Excel 2003

but

is

compatible

to Excel 2007.

In Excel 2007

the

macro-

function

has to be

activated

in Excel.


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First steps: Accessing the tool

PRESS the

BUTTONDescription

of file-structure


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Navigating through the tool

After pressing

PRESS BUTTON to access

to Easy

Evaluation

the

tool

is

opened

for

your

usage. In the

navigation

bar at the

lower

end of the

screen

varioussheets

can

be

seen.

For navigating

click

the

various

sheets

or

click

on

hyperlinks

/ buttons

in the

Introduction-sheet.

Your

starting

point is

the

sheet

1_Input.


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1_Input

sheet sections General & Cash Inflow

Your

INPUT isrequested

in greycoloured

cells !

User Language: In the

dropdown

menu

you

can

choose

your

favourite

language

to be

used

in

the

first

sheet

1_Input

and calculation

sheets

language will be changed on sheets

1_Input, 10_Evaluation, 11_Revenues,

12_Expenses.You

can

choose

between

English, Romanian

or

Turkish

language.

Input-section

for

VOLUME

Input-section

for

SALES PRICE

Input-section

for

OTHER INCOME

Input-section

for

SHRINKAGE: % entered

are

deducted

from VOLUME

above,

which

leads

to SALES-Quantities

below ENERGY UNIT standardsetting is mn boe (=million boe per year).Keeping

this

structure

ofmn

is

necessary

(due

to

calculation

purpose).

General remarks:a) Maximum time period

you

can

enter

is

50 years.b) In this

tool

you

ALWAYS are

asked

to input

POSITIVE valuesc) There

is

also a button

on this

sheet

named

CLEAR Input Sheet all data entered will bedeleted in order not to forget old entries when calculating new business case.

Mandatory fields: The

only

input

cells

to be

filled-in

on a mandatory

basis

are

in this

range.E.g. If

you

enter

2010

as start year

of the

project

&

2025

as end year

of the

project, the

timeline

of the

project

is

build

up automatically

on each

sheet

of the

file.

E.g. Functional currency

has to be

entered

here

&is

taken

for

entire

file

autiomatically

then. There

is

no

conversion

between

currencies

in this

file.

TOTALs column D shows the respective sums of data rows.UNITS column Cshows the units of the

respective data rows.


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1_Input

sheet section Cash Outflow

Your

INPUT isrequested

in greycoloured

cells !

General remarks

for

1_Input-sheet: Inputs are

to be

entered

over

a timeline, on a

yearly

basis. Exemption

to this

rule

are

mandatory

fields

on the

very

top

of the

sheet.

Your

input

data

has to include

inflation

adjusted

figures

already

(e.g. CAPEX are

100 mn

EUR

without

consideration

of inflation. Inflation is

2% per year. Enter 102 mn EUR in

1_Input-sheet for one year of inflation).

Input-section

for

CAPEX. Up to

5different CAPEX-types

can

be

entered.

Input-section

for

OPEX fixed

Input-section

for

OPEX variable(related

to CAPEX)

Input-section

for

OPEX variable (related

to Production/Quantity/Capacity)

Explanation

for

OPEX variable:OPEX variable (related

to CAPEX) % entered is

multiplied

with

TOTAL CAPEX, incurred

until

the

respective

year

of OPEX for

the

respective

type

of OPEX .

E.g. if

TOTAL CAPEX of CAPEX 1( in the 1_Input-sheetthere

is

the

possibility

to enter

up to 5 different CAPEX-types)

until

the

year

2014 are

100 mn

EUR (incl. the

CAPEX of the

year2014) , and variable OPEX for

CAPEX 1

are

10%, then

OPEX

are

10 mn

EUR/year

in the

year

2014. The

Model automatically

puts

variable OPEX to zero

in case

there

is

no production

in the

respective

year.

OPEX variable (related

to Production/Quantity/Capacity)

OPEX per 1 unit

boe

of Production/Quantitiy/Capacity

is

multiplied

with

repective

Volume

line

of section

Cash

Inflow

above. E.g. OPEX variable for

Volume

#2 (= Oil) is

x

mn

EUR per 1 mn

boe

Production

multiplied

with

the

Production

of Volume

#2 leads

to the

OPEX variable-TOTALfor

Volume

#2 in mn

EUR.


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2_Scenario Dashboardsheet Summary & Control

Key economic

project

parameters

can

be

changed

stand-alone

or

in combination

(e.g. +20% CAPEX, +10% OPEX & +15% in

Sales Price).

IMPORTANT: For the

depiction

of the

BASE CASE (= without

any

changes

of

variables), the

%-cells

below

the

arrow-

buttons

are

to be

zero

!

5.Project Name &Person who

performed

the

Evaluation in this

file.

1. 2.3a: Economic

Key Performance Indicators

3b: TOTAL CAPEX, TOTAL OPEX

3c: Max. Exposure, Revenue-period

&

Project period.

All figures

are

updated

automically

once

a change

in 1_Input-sheet or

by

Dashboard

(see

point ) is

made.

3a. 3b. 3c. Graph showing

Project Cash Flow

on yearly

basis

&

accumulated

(discounted

& non-discounted).

Single components

of Cash Flow

(i.e. Revenues, CAPEX, OPEX)

are

shown

on yearly

basis, non-discounted. IRR-

& NPV-

development

over

project

timeline.

Graph is

changed

automatically

once

any

change

in 1_Input-

sheet

or

by

Dashboard

(see

point ) is

made.

The

layout of the

Graph can

be

updated

by

pressing

the

button

of point ).

4.

3c.3b.3a.

2.1.

9. 8.

4.

6. 7.

5.

Years

can

be

selected

(e.g. most important

turning

points

in projects

economic

development

or

MTP-years). Key data for

these

selected

years

are

depicted.

Example: If

CAPEX are

increased by +20%

in the

Dashboard

(see

point ), then the

INPUT CELLS

You

can

select 2 years

which

show

the

corresponding deviation.

7.

Pressing

this button triggers

an update of Chart-layout

(after

e.g. scenario has been

changed

by

point ).

8.

5.

Pushing

this

buttontriggers

an update of the

Sensitivities

on sheet

3_Sensitivities & on the

sheets

# 4, # 5, # 6; after e.g.

scenario

has been changed

by

point .

9.

5.

5.

You can delete the

corresponding sections by

pressing this button.10.

5.

8.5.

11.

Screen is

adjusted to

respective

screen resolution.12.

Cash Flow-development can

immediately be seen in the

respective

year.

In addition

the respective

Product

and Price can be

selected

(e.g. gas or oil

price).

You

can print thecorresponding sections by

pressing

these buttons. To

have

coloured printouts, just

set

colour

as your

standard-print setting.

11.

10.

12.

13.

6.

You

can

select between

Non-discounted &

Discounted depiction of

data.

13.


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3_Sensitivities

sheet

IRR

NPV

Profitability

Index

Sensitivities

are

calculated

on a ceteris

paribus-basis.

Sensitivities

of the

key

drivers

(i.e. CAPEX, OPEX, Price,

Production/Quantity/Capacity) on the

Key Performance

Indicators

(i.e. IRR, NPV, Profitability

Index) are

calculated

by

pressing

the

button

Update Sensitivities

on sheet

2_Scenario

Dashboard

(see

point 9).

Make

your

freely

choosen

input

in the

grey

coloured

input

cells.(e.g. if

you

want

to see

the

sensitivities

of 90% of the

BASE

CASE, then

enter

90%. 100% means

that

a zero-deviation

from

the

BASE CASE is

calculated.

There

are

11 INPUT CELLS. ALWAYS ENTER A VALUE in the

INPUT CELLS (0% is

not

a value!).Enter

a data

row

shown

above

(see

BASE CASE coloured

yellow

which

can

be

-but

not

necessarily

has to be-

in the

middle). You

can

give

a range

of deviations

left

and right from

the

BASE

CASE of up to -50% to +50% in 10%-steps each.

The BASE CASE does not have to be entered in the middle: it

could

be

calculated

a range

of 10 steps

beginning

from

the

BASE CASE

with

e.g. 5%-steps up to a +50% from the

BASE

CASE.

The

results

of the

calculations

are

shown

numerically

on this

sheet

and graphically

on sheets

# 4, #5 & #6.

INPUT CELLS

9.


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a)

Cash Flow

(discounted

& non-

discounted) over

entire

project

period

b)

Depiction

of CAPEX, OPEX and

Revenues

over

entire

project

period

c)

Depiction

of volumes

used

for

cash-in-

calculation

over

entire

project

period

a)

b)

c)

7_CF..-

/ 8_Cash out/in..-

/ 9_Volume..

sheet

easy evaluation_introduction leaflet

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