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Q4 2014 RESULTS – North Energy

North Energy · Feb 12, 2015 · 22 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Q4 2014 RESULTS – North Energy – slide 1
    North Energy Q4 2014 12 February 2015 Knut Sberg, acting CEO Kristen Berli, SVP Exploration and BD
  2. Q4 2014 RESULTS – North Energy – slide 2
    Agenda Q4 highlights and subsequent events Financial update Operational update Outlook North Energy ASA postnorthenergy.no (+47) 78 60 79 50 www.northenergy.no
  3. Q4 2014 RESULTS – North Energy – slide 3
    Q4 highlights and subsequent events Successful awards in the APA 2014 20% ownership in PL 805 on the Loppa High, adjacent to the Gotha and Alta discoveries Preparations underway for APA 2015 and the 23rd Licensing Round Drilling…
  4. Q4 2014 RESULTS – North Energy – slide 4
    Reflecting on 2014 as a whole Barents position strengthened Successful awards in the APA rounds Strategic cooperation with EMGS Financial position strengthened NOK 285 million private placement Securing visibility and…
  5. Q4 2014 RESULTS – North Energy – slide 5
    Update on the strategic review Launched in December by the Board of Directors, currently ongoing Board response to unsatisfactory share price development Actively challenging strategy to find commercial oil Goal: Maximise…
  6. Q4 2014 RESULTS – North Energy – slide 6
    Agenda Q4 highlights and subsequent events Financial update Operational update Outlook North Energy ASA postnorthenergy.no (+47) 78 60 79 50 www.northenergy.no
  7. Q4 2014 RESULTS – North Energy – slide 7
    Profit & Loss Q4 2014 NOK Million Q4 2014 Q3 2014 2014 2013 Profit 0,0 0,2 3,5 98,6 Exploration expenses (91,9) (56,6) (332,1) (696,6) PL713 and purchase of Seismic data Payroll (16,3) (15,6) (52,9) (51,0) Other operating expenses…
  8. Q4 2014 RESULTS – North Energy – slide 8
    Balance Sheet 31 December 2014 NOK Million 31.12.2014 30.09.2014 31.12.2013 Assets Fixed Assets 164,9 167,5 139,2 Deferred tax asset and cap. drilling cost Long term receivables - 299,1 - Tax receivable refund (Dec. 2014) Short term…
  9. Q4 2014 RESULTS – North Energy – slide 9
    A fully funded 2015 drilling campaign The current four well 2015 exploration Net cash* position Q4 2014 campaign is fully funded 20 Q4 2014 net cash position of NOK 325 million 56 Unused convertible loan facility of NOK 169…
  10. Q4 2014 RESULTS – North Energy – slide 10
    Agenda Q4 highlights and subsequent events Financial update Operational update Outlook North Energy ASA postnorthenergy.no (+47) 78 60 79 50 www.northenergy.no
  11. Q4 2014 RESULTS – North Energy – slide 11
    APA 2014 Awards APA 14 PL 805: Award on the Alta- Gotha trend 20% equity to North Lundin operator PL 591 C: Award on follow-up potential close to this years Zumba well in PL 591 15% equity to North Tullow operator North…
  12. Q4 2014 RESULTS – North Energy – slide 12
    PL 805 a Barents Sea licence in a good neighbourhood Licence with multiple Alta prospects close to the Gotha Highbury recent Gotha and Alta PL 805 discoveries Leads Fits into Norths core focus area Skalle A discovery could…
  13. Q4 2014 RESULTS – North Energy – slide 13
    Portfolio 25 licences 8 in the Barents Sea 11 in the Norwegian Sea 6 in the North Sea APA awards not included North Energy ASA postnorthenergy.no (+47) 78 60 79 50 www.northenergy.no
  14. Q4 2014 RESULTS – North Energy – slide 14
    Back-to-back drilling throughout 2015 Firm wells Timing Licence Prospect Interest Operator Location Rig Q4 2014 2015 PL 510 Tvilling Sr 20% Maersk Norwegian Sea Leiv Eiriksson Q4 Q1 PL 591 Zumba 15% Tullow Norwegian Sea TBA Q2 -…
  15. Q4 2014 RESULTS – North Energy – slide 15
    PL 510 Tvillingen Sr ongoing PL 510 in the Norwegian Sea Awarded APA 2008 Main prospect Tvillingen South Operator Maersk (50%) Hydrocarbons Gas Condensate Partners North Energy (20%) Expected drilling Ongoing Edison (30%) Reservoir…
  16. Q4 2014 RESULTS – North Energy – slide 16
    PL 616 Haribo well close to Hod field, south in North Sea PL 616 in the North Sea Awarded APA 2011 Main prospect Haribo Operator Edison (25%) Hydrocarbons Oil Partners Concedo (20%) Expected drilling Q3 2015 Noreco (20%) Reservoir…
  17. Q4 2014 RESULTS – North Energy – slide 17
    PL 591 Zumba significant prospect next to Heidrun PL 591 in the Norwegian Sea Awarded APA 2011 Main prospect Zumba Operator Tullow (80%) Hydrocarbons Gas and Oil Partners North Energy (15%) Expected drilling Q3 2015 Lime Petroleum…
  18. Q4 2014 RESULTS – North Energy – slide 18
    PL 708 rnen exciting Permian well PL 708 in the Barents Sea Awarded 22. round Main prospect rnen (Seiland east) Operator Lundin (40%) Hydrocarbons Oil Partners North Energy (10%) Expected drilling Q4 2015 Edison (20%) Reservoir Upper…
  19. Q4 2014 RESULTS – North Energy – slide 19
    Exploration ambition: Find commercial oil Explore where competitive edge is sharpest Main exploration focus in clearly defined target areas in the Barents and Norwegian Sea based on G&G expertise Opportunistic approach w.r.t. North…
  20. Q4 2014 RESULTS – North Energy – slide 20
    Agenda Q4 highlights and subsequent events Financial update Operational update Outlook North Energy ASA postnorthenergy.no (+47) 78 60 79 50 www.northenergy.no
  21. Q4 2014 RESULTS – North Energy – slide 21
    Summary and outlook Four wells scheduled for 2015 Testing a total of approx. 700 mmboe of which approx. 100 mmboe net to North Energy 2015 programme fully funded Focusing on maturing quality opportunities for 2016 and beyond…
  22. Q4 2014 RESULTS – North Energy – slide 22
    Q&A North Energy ASA postnorthenergy.no (+47) 78 60 79 50 www.northenergy.no

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