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ACQUISITION OF EMERGY EXPLORATION NORWAY ENTRY – Atlantic Petroleum

Atlantic Petroleum · Nov 14, 2012 · 14 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. ACQUISITION OF EMERGY EXPLORATION NORWAY ENTRY – Atlantic Petroleum – slide 1
    Atlantic Petroleum Acquisition of Emergy Exploration Norway Entry November 2012
  2. ACQUISITION OF EMERGY EXPLORATION NORWAY ENTRY – Atlantic Petroleum – slide 2
    Our Strategy & Building Blocks Provide step change growth through high impact exploration and targeted acquisitions GROWTH THROUGH GROWTH BY FARM-IN & DEVELOPMENT ACQUISITIONS Create organic growth through Increase portfolio…
  3. ACQUISITION OF EMERGY EXPLORATION NORWAY ENTRY – Atlantic Petroleum – slide 3
    The Deal The offer for 100% of the shares in Emergy Exploration is USD 12.7 million to be paid in cash or a combination of cash and shares, of which 50% will be paid in cash upon acceptance of the Offer and 50% will be paid at the…
  4. ACQUISITION OF EMERGY EXPLORATION NORWAY ENTRY – Atlantic Petroleum – slide 4
    New Group Structure P/F Atlantic Petroleum Faroe Islands Atlantic Petroleum UK Ltd Atlantic Petroleum Norge AS (100% equity) (100% equity) Atlantic Petroleum Ireland Ltd Volantis Exploration Ltd (100% equity) (100%…
  5. ACQUISITION OF EMERGY EXPLORATION NORWAY ENTRY – Atlantic Petroleum – slide 5
    Strategic Rationale Platform to build material business unit in Norway Adding high impact exploration and appraisal acreage Highly experienced team with strong track record on the Norwegian Continental Shelf 6
  6. ACQUISITION OF EMERGY EXPLORATION NORWAY ENTRY – Atlantic Petroleum – slide 6
    Transaction Rationale Norway remains highly prospective: 2 of the worlds 5 largest discoveries over the last two years Participation in the 22nd Licencing Round: Emergy Exploration is pre-qualified as a licensee on the NCS and will…
  7. ACQUISITION OF EMERGY EXPLORATION NORWAY ENTRY – Atlantic Petroleum – slide 7
    Significant Exploration Potential Remains Norway is deviating from the classic creaming curve in 68 that the past several years have seen larger discoveries 66 64 62 Cumulative Discovered oil & gas resources by country 60 by year…
  8. ACQUISITION OF EMERGY EXPLORATION NORWAY ENTRY – Atlantic Petroleum – slide 8
    Norway Assets PL270 License partnership upon completion of transaction: VNG 85 % (OP), Emergy (AP Norge) 15 % PL 270 Area: Norway, Northern North Sea, Block 35/3 Water depth: c. 260 m Block Summary 3 gas discoveries Additional…
  9. ACQUISITION OF EMERGY EXPLORATION NORWAY ENTRY – Atlantic Petroleum – slide 9
    Norway Assets PL559 License partnership upon completion of transaction: Rocksource 60 % (OP), VNG 20 %, Skagen44 10 %, PL 559 Emergy (AP Norge)10 % Area: Norway, Norwegian Sea, Nordland Ridge, Block 6608/10/11 Water depth: c. 380…
  10. ACQUISITION OF EMERGY EXPLORATION NORWAY ENTRY – Atlantic Petroleum – slide 10
    Business concept Knowledge of NCS Stringent Criteria Experience If discovery: & focus on DHIs swap for production Drill low risk or sell prospects with low to moderate Successful Farm- working interest Select ins or…
  11. ACQUISITION OF EMERGY EXPLORATION NORWAY ENTRY – Atlantic Petroleum – slide 11
    Atlantic Petroleum Licences November 2012 38 LICENCES UK 29 exploration & appraisal licences 3 licences with fields in production Faroe Islands 3 exploration licences Ireland 1 exploration licence Norway 2 exploration…
  12. ACQUISITION OF EMERGY EXPLORATION NORWAY ENTRY – Atlantic Petroleum – slide 12
    Exploration & Appraisal Wells Wells Wells drilled/planned Cum. wells drilled Cum. wells drilled drilled 5 14 12 4 Tentative 10 Norway well 3 8 6 2 4 1 2 0 0 2009 2010 2011 2012 2013 2014 Firm Exploration &…
  13. ACQUISITION OF EMERGY EXPLORATION NORWAY ENTRY – Atlantic Petroleum – slide 13
    Summary Transaction Rationale Exposure to the highly prolific and prospective Norwegian Continental Shelf Participation in Norwegian licence applications. Next round has a bid deadline 4th December Ownership in two licenses…
  14. ACQUISITION OF EMERGY EXPLORATION NORWAY ENTRY – Atlantic Petroleum – slide 14
    Contact Headquarters, Faroe Islands P/F Atlantic Petroleum Yviri vi Strond 4 P.O.Box 1228 Faroe Islands Tel +298 350100 Norway offices, Bergen Atlantic Petroleum Norge AS Kanalveien 109 5068 Bergen Norway Tel +47 99205989…

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