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Page 1: 3. Events and Activities3. Events and Activities

36

3. Events and Activities3. Events and Activities

Page 2: 3. Events and Activities3. Events and Activities

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Dr.Anusorn Sengnimnuan, the president, was seeing receiving the Best

Corporate Social Responsibility Awards (CSR) and certificate of the

Best Corporate Governance Report from Dr. Thanong Bidaya, Finance

Minister, a chairman of SET AWARDS 2006 arranged by the Stock

Exchange of Thailand and Money and Banking Magazine at the SET

Building.

SET AWARDS 2006

Page 3: 3. Events and Activities3. Events and Activities

38

Excellent CG (Top 9)

The Siam Commercial Bank9.

Ratchaburi Electric.8.

PTTEP7.

PTT6.

Krung Thai Bank5.

Kasikorn Bank4.

Bangkok Bank3.

Banpu2.

Bangchak Bangchak PclPcl..1.1.

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������������� �������������������������� ������������������������������������������������������� ���������������� 25492549

2727 !�"# !�"# 25492549

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Page 4: 3. Events and Activities3. Events and Activities

39

CG Promotion

Page 5: 3. Events and Activities3. Events and Activities

40

Community Relation

Page 6: 3. Events and Activities3. Events and Activities

41

B�OVE�u �S)*4EB8(�C4��6)SN64J) B�O4��QQ4DNS)�)E:�����9�74QB6)SNZDJ4EB[�)[�*[N�QB8�C45EYN 7 [�*[N

Community Relation

F\0U780^_H^7_

Page 7: 3. Events and Activities3. Events and Activities

42

Big Cleaning Toilet Day

Page 8: 3. Events and Activities3. Events and Activities

43

Donation

Page 9: 3. Events and Activities3. Events and Activities

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Donation

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45

1818 KK..JJ.. 4949 NOPNOP.. II..QRISTUVITNQRISTUVITN WTLXTMYNWMZWTLXTMYNWMZ [TL\K][TL\K] O^_`abO^_`abcde\Ib_NVSfghcde\Ib_NVSfgh cWiTWjkle^YmnfOoZ`N]pNqLW_eTW_T]IjKfrWcWiTWjkle^YmnfOoZ`N]pNqLW_eTW_T]IjKfrW dWRs]cWdWRs]cW`N]pNqLWMeW\__cW`JN]ITNdWRs]^tTpo^dWRs]`N]pNqLWcWuvW`N]pNqLWMeW\__cW`JN]ITNdWRs]^tTpo^dWRs]`N]pNqLWcWuvW Xfw`wLKtTWfI]TWJxjINNOITNITNQRISTyfrWz{rWiTWXfw`wLKtTWfI]TWJxjINNOITNITNQRISTyfrWz{rWiTW

Education Support

Page 11: 3. Events and Activities3. Events and Activities

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ERM

Page 12: 3. Events and Activities3. Events and Activities

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� �E�@-0>C�5%��5�� ( 2549

��� � ������������������ ����� ���� �������� �� !�� ISO 14001 ������������'(������)���*���+���,�) ���./OHSAS 18001 �(� �1�)�������������23� 4 +5 �3�6 �) � ��78 ���� 3����9 �����4:��;�1� �� 3����9 78�<������4:�����78 � <� � � 3 �( � = � � � � �����������*>��*������� 2 � � � � � 4 � ; (� F 480601 � � � � A � 6 � 4 ;� � � � � � 78 � � � � � �� (� B C� : D 0-2335-4154-55

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Page 13: 3. Events and Activities3. Events and Activities

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4. Product Quality Improvement (PQI)4. Product Quality Improvement (PQI)

Page 14: 3. Events and Activities3. Events and Activities

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To be Improved with PQI

USD/bbl

10

8

6

4

2

0

Fuel Oil

31%

Diesel

37%

ULG

15%

Jet Fuel14%

LPG 3%

Fuel Oil

31%

Diesel

37%

ULG

15%

Jet Fuel14%

LPG 3%

ULG

25%

Diesel

52%

Fuel Oil9%

Jet Fuel9%

LPG 5%

ULG

25%

Diesel

52%

Fuel Oil9%

Jet Fuel9%

LPG 5%

What is PQI ?What is PQI ? Result from PQIResult from PQI

CounterpartiesCounterparties

• PQI is the Investment in “Hydrocracking Unit” and other

supporting units

• These units enable BCP to turn current fuel oil output to

be gas oil without increasing the capacity

• Feasibility Study UOP LLC & Foster Wheeler Corporation

• Technology License UOP LLC• EPC Contractor CTCI Corporation• Project Mgnt Consultant Foster Wheeler Corporation

• Investment Cost USD 378 million• Construction Period May’06 – Sep’08 (28 months)

Investment & ConstructionInvestment & Construction

MEME FEFEMEME FEFE

CurrentSimple Refinery

AfterPQI Completion

EnhanceEnhance

Crude MixCrude Mix

FlexibilityFlexibility

Less FOLess FO

OutputOutput

PortionPortion

SurgeSurge

GRMGRM

CurrentSpread

CurrentSpread

FeasibilitySpread

Page 15: 3. Events and Activities3. Events and Activities

50

EBITDA after PQI

-

2,000

4,000

6,000

8,000

10,000

12,000

2003

2004

2005

1H06

2006

F

2007

F

2008

F

2009

F

2010

F

2011

F

THB mil

-

2

4

6

8

10

12

USD/bbl

EBITDA

EBITDA (feasibility study)

GRM

GRM (feasibility study)

“Return from investment competitive in long-term, hence BCP decided to pursue PQI”

Note: (1) EBITDA 2007F-2011F based on GO/DB USD16.73/bbl and DB/FO USD12.31/bbl

(2) EBITDA (feasibility study) 2007F-2011F based on GO/DB USD10.5/bbl and DB/FO USD3/bbl

Both cases based on gradually growing crude run from 65 KBSD before COD after that run 100 KBSD

(1)

(2)

Page 16: 3. Events and Activities3. Events and Activities

51

Equity from PTT + FI 6,579

Loan 8,400

Operating Cash 390

Total 15,369

SourcesSources

EPC Contract Price 11,163

Owner supplies and other costs 1,505

Financing Cost (Net) 863(1)

Contingency 1,231(2)

Total 14,762(3)

UsesUses

Excess cash Bt 607 million or USD ~16 millionExcess cash Bt 607 million or USD ~16 million

Note: (1) Using fixed deposit rate of 5% (Interest receive from equity proceed)

(2) Using FX of Bt 41.03 per USD for conservative purpose.

(3) BCP has hedged all of FX exposure and interest rate risks, excluding contingency.

Baht Million Baht Million

The Successful Fund Raising vs. Uses of FundThe Successful Fund Raising vs. Uses of Fund

Use for Additional PQI EnhancementUse for Additional PQI Enhancement

Page 17: 3. Events and Activities3. Events and Activities

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•• Products to be swap is based on Products to be swap is based on mutual agreementmutual agreement

•• Benefit sharing as per commercial Benefit sharing as per commercial basis based on mutual agreementbasis based on mutual agreement

Product SwapProduct Swap

•• Create synergy between BCP and PTTCreate synergy between BCP and PTT

•• Ranging from refinery management to Ranging from refinery management to product marketing collaborationproduct marketing collaboration

Marketing & Refinery CollaborationMarketing & Refinery Collaboration

Strategic Partner Participation

Business synergy from PTT Plc., a strategic partner, help enhance BCP’s return from PQI

•• Up to 30%Up to 30%

•• Secure market for additional output Secure market for additional output after PQIafter PQI

•• Optimize capacity utilizationOptimize capacity utilization

Product OffProduct Off--take Agreementtake Agreement

•• Up to 100% Up to 100%

•• Ensure Ensure BCPBCP’’ss crude supplycrude supply

•• Better bargaining powerBetter bargaining power

•• Better economy of scale of freightBetter economy of scale of freight

Crude Supply AgreementCrude Supply Agreement

Page 18: 3. Events and Activities3. Events and Activities

53

PQI Progress

Overall Progress Curve (E/P/C)

0

10

20

30

40

50

60

70

80

90

100

110

Project Month & Accumulate %

Progress %

Plan 0.2 0.9 2.3 4.4 6.4 8.1 9.5 10.4 11.4 13.1 15.8 19.5 24.6 33.6 42.8 52.2 61.0 69.9 78.9 87.9 91.6 94.5 97.1 98.5 99.2 99.7 99.8 100.0 100.0 100.0

Act ual 1.0 2.5 3.0 5.6 8.0 8.7

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30

All LLIs

delivery to site

Ready for piling

and civil work

Piping and Inst rument

Diagram for

Start of Distributed Control

System factory acceptance test

Substat ion Power

no.5 energized

Mechanical

Complet ion

Provisional

Acceptance

Q22006

Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q32007 2008

Month

Page 19: 3. Events and Activities3. Events and Activities

54

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Page 20: 3. Events and Activities3. Events and Activities

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Construction Work

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Page 21: 3. Events and Activities3. Events and Activities

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Hydro Cracking Unit Model

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5. Other Projects5. Other Projects

Page 23: 3. Events and Activities3. Events and Activities

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CogenerationCogeneration PPowerower PPlantlant

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59

,*PYQ8(�C4�� PQI 65J),��-. ()�*�JQC4��cggt�657cQNX+�RQC8�C45EYN.7,AOY*R\XN*�4_\YC8(�C4��u .7*K4���O:�EXC,(�PYQC4+�,NO:cggt� RN�: 5.6 MW 657*K option ZN4����J�CD*JQNX+� (Boiler) �+��QC

15.712.13.6

76

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29.120.98.2

13.48.84.6

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daf]`JN]ITN PQI \aePpKN�X

mvXXY_fWJPTOMe^]ITNgqsmNVOTxIafsW 100 KBD

CogenerationCogeneration PPowerower PPlantlant

Page 25: 3. Events and Activities3. Events and Activities

60

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� ,AOY*9�7�O��O@�A4��Z[JA5ECC�NRQC�7BB�����WM94��ZDJ*�4R\XN

� 9�7D�E:,CON5C��NZN4����J�CD*JQNX+� (Boiler) �+��QC9�7*�W 2.1 M$

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� 9�7D�E:c:J.�44��Z[J Natural Gas ZN4�� feed 6�N Fuel Oil

CogenerationCogeneration PPowerower PPlantlant

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Page 26: 3. Events and Activities3. Events and Activities

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'���'��� 25502550

������������������ 11 ������������ 25492549BIO Diesel Pilot Plant

��������� : 20,000 � � *) �� � :!��� : �>��#��0?@'@2�2 /�?)��-#���������!� : 15 2�����

“B5 D1��� �"�@'(�$�'�$�'7 0.50 � �”

Page 27: 3. Events and Activities3. Events and Activities

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BIO Diesel Pilot Plant

Page 28: 3. Events and Activities3. Events and Activities

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Future Challenge

FutureChallengeFuture

ChallengeCapture OpportunityCapture Opportunity

� PQI Completion

� Margin (GRM, MKM)� Oil Distribution Center in BKK and Vicinity� Acceptance from Community

� Organization Development

� New Business

Page 29: 3. Events and Activities3. Events and Activities

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BCP’s Instruments & Features

CSDR

CD to PTT

CS

Warrant

CDDR

ESOP Warrant

Listed

Listed

Listed

Non -Listed

Non

Non --Listed

Listed

• Capital protected by MoF @ THB13 / per units• Underlying Securities = CS

• No capital protection• Par value of THB 1.00

• Right offering in 2Q06• Exercise price THB18 per CS, Quarterly• Maturity in May 2011 (5 years)

• Capital protected by MoF @ THB10,000 per unit• Underlying Securities = CD

• THB14.00 per CS, Quarterly• Coupon 3% p.a., Semi-annual

• Solely issued to PTT for PQI funding• Conversion price THB14.00 per CS, Quarterly• Coupon 3% p.a., Semi-annual

BCP-DR1

BCP

BCP-W1

BCP141A

TickerTickerNameName

• Issued to BCP’s directors and employees

Note: CSDR, CS, Warrant are tradable in Stock Exchange of Thailand (SET)CDDR is tradable in TBDCMaturity of CSDR, CDDR, CD are in 2014Warrant (BCP-W1 and ESOP) exercise ratio is 1 Warrant per 1 CS

Significant Terms & ConditionsSignificant Terms & ConditionsTypeType

Common Share Depository Receipt

Convertible Debenture

Common Share

Warrant

Convertible Debenture Depository Receipt

Warrant

Page 30: 3. Events and Activities3. Events and Activities

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The End

Contact IR at [email protected] or Tel. 02-335-4583