WEBCAST PRESENTATION 2011 RESULTS 24th February 2012
2011 BUILDING FOR GROWTH More than doubled the licence portfolio Atlantic Petroleum added 15 licences to its portfolio through the acquisition of Volantis Exploration in 2011 bringing the total to 31 licences excluding five UK 26th…
INCOME STATEMENT Full Year 2011 Full Year Full Year 31st December 31st December 2011 2010 DKK DKK Revenue 434.830.735 422.469.572 Cost of sales -261.196.369 -256.439.727 Gross profit 173.634.366 166.029.844 Exploration expense…
BALANCE SHEET AND CASH FLOW Full Year 2011 DKK MM Balance Sheet End 2011 End 2010 Total assets 791.5 671.8 Equity 444.5 377.9 Bank debt 104.9 162.3 - Long term 65.0 97.5 - Short term 39.9 64.8 Cash Flow End 2011 End 2010…
OPERATING CASH FLOW & EQUITY 6 February 2012
PRODUCTION 7 February 2012
SHARE INFORMATION DKK Closing Price 300 250 200 150 100 50 0 Jan 2011 Feb 2011 Mar 2011 May 2011 Jun 2011 Aug 2011 Sep 2011 Nov 2011 Dec 2011 Jan 2012 Unregistered 16% Faroe Institutional Islands 30%…
RESERVES Proven reserves Contingent resources Prospective resources (risked) MMBoe MMBoe MMBoe Start of 2011 2.9 5.8 16.2 Production -0.74 Net additions & revisions 0.46 2.3 4.8 End of 2011 2.6 8.1 20.0 P50 Reserves & Resources…
RESERVES AND RESOURCES Total reserves and resources of 30.7 MMBoe Reserves: 2.6 MMBoe (8.5%) Ettrick Chestnut Blackbird 1.6% Other 3.6% 3.3% contingent resources 13.4% Prospective resources: 20.0 MMBoe (65.1%) Contingent…
RESERVES AND RESOURCES 11 February 2012
LICENCE PORTFOLIO Atlantic Petroleum Atlantic Petroleum producing field 12 February 2012
BUSINESS MODEL AND STRATEGY Focus on Offshore North West Europe Mature basin but significant opportunities remain for Small to Mid Cap players Provide Steady Growth from the Existing Base Reserve/production growth in existing…
ATLANTIC PETROLEUM LICENCES FEBRUARY 2012 Project status Exploration UK: Appraisal & East Perth Development North Perth Blackbird Extension Orchid UK: Production Licence portfolio Anglesey Perth Biscuits Sigma Terrace…
PLANNED ACTIVITIES Planned Activities (2012 to 2013) 2012 2013 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q L.006 Brugdan Deep Brugdan II well Faroe L.014 Marselius 2D Seismic Islands 3D Seismic L.016 Klubkan Exploration (proposal) P.1556…
NEAR DEVELOPMENT ASSETS Perth, Licences P.218 & P.588, Block 15/21a,b,c,f JV partners and Interests: Large discovery with over 300 mmboe STOIIP DEO (Operator) 52.03% Field Development Plan submitted 30th September 2011 Faroe…
AP LICENCES & WELLS PLANNED FOR 2012 2013 Spaniards 2012 well Orchid Feb 2012 well Pegasus West 2013 well Endymion 2013 well Brugdan II 2012 well 17 February 2012
EXPLORATION & APPRAISAL 18 February 2012
OUTLOOK Outlook Total production for 2012 is estimated to be between 700,000 800,000 boe net for the year Earnings Before Interest, Taxes, Depreciation, Amortisation and Exploration Expenses (EBITDAX) is predicted in the range of…
CONTACT Headquarters, Faroe Islands Atlantic Petroleum P/F P.O. Box 1228 Gongin 9 FO-110 Trshavn Faroe Islands Tel +298 350 100 UK office, London Ben Arabo, CEO Tel +298 350 100 Atlantic Petroleum (UK) Limited Mobile…
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