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CAPITAL MARKET DAY – Lundin Petroleum

Lundin Petroleum · Jan 31, 2009 · 15 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. CAPITAL MARKET DAY – Lundin Petroleum – slide 1
    8 2008 Performance Preview Geoff Turbott, Chief Financial Officer WF10581 January 2009
  2. CAPITAL MARKET DAY – Lundin Petroleum – slide 2
    9 2008 Forecast Production Performance 2008 : 31,800 boepd after minority interest Actual Capital Markets Day (CMD) January 2008 Net boe/d 50,000 40,000 30,000 20,000 10,000 0 Q1 Q2 Q3 Q4 WF10013 01.08
  3. CAPITAL MARKET DAY – Lundin Petroleum – slide 3
    10 2008 Forecast Production Performance 2008 : 31,800 boepd after minority interest Actual Capital Markets Day (CMD) January 2008 Net boe/d 50,000 Norway- Alvheim delay 40,000 30,000 20,000 10,000 0 Q1 Q2 Q3…
  4. CAPITAL MARKET DAY – Lundin Petroleum – slide 4
    11 2008 Forecast Production Performance 2008 : 31,800 boepd after minority interest Actual Capital Markets Day (CMD) January 2008 Net boe/d 50,000 Russia- PNG Recher Komi production reduced Norway- Alvheim delay Norway-…
  5. CAPITAL MARKET DAY – Lundin Petroleum – slide 5
    12 2008 Forecast Margin Netback [USD/boe] Forecast CMD 2008 Jan 08 oil price 97.00 85.00 Production (mmboe) 11.90 13.70 before minority Revenue 81.75 74.50 Cost of operations -21.00 -19.40 Tariffs -2.70 -2.40 Production…
  6. CAPITAL MARKET DAY – Lundin Petroleum – slide 6
    13 2008 Forecast Revenue Netback [USD/boe] Forecast CMD 2008 Jan 08 Average Brent oil price 97.00 85.00 Sales differential Russia -6.45 -5.75 Gas price differential -2.60 -2.80 Other -1.40 -0.40 Sales price achieved…
  7. CAPITAL MARKET DAY – Lundin Petroleum – slide 7
    14 2008 Forecast Cost of Operations MMBOE USD/boe MUSD Capital Markets Day 2008 13.7 X 19.40 = 266.7 Forecast 2008 11.9 X 21.00 = 249.6 % Change -14% X 8% = -6% WF10094c 01.09
  8. CAPITAL MARKET DAY – Lundin Petroleum – slide 8
    15 2008 Forecast Cost of Operations FX rates 2008 F/C 2008 CMD USD : GBP 1.85 2.10 2008 CMD USD : EUR 1.47 1.47 2008 CMD FX adjusted NOK : USD 5.59 5.30 2008 Forecast 50 50 41.05 Increase primarily driven by 38.45…
  9. CAPITAL MARKET DAY – Lundin Petroleum – slide 9
    16 2008 Forecast Exploration Costs Q4 2008 Forecast 2008 Q4 2008 after Deferred Tax Forecast (1) Forecast (1) & Minority Interest MUSD MUSD MUSD Sudan including Nyal, Wan Machar, Muny Deng wells 64.6 45.0 37.3 UK…
  10. CAPITAL MARKET DAY – Lundin Petroleum – slide 10
    17 2008 Forecast Impairments 2008 Deferred Tax and Impact on 2008 Profit Forecast Minority Interest atributable to LUPE MUSD MUSD MUSD Russia - Kalmeastern(1) 39.0 -20.0 19.0 Russia - Oilgaztet(2) 12.5 -7.9 4.6 Tunisia…
  11. CAPITAL MARKET DAY – Lundin Petroleum – slide 11
    18 2008 Forecast Financial Items - Exchange Movements PRE-TAX EXCHANGE MOVEMENTS (MSEK) EXCHANGE RATES NOK/USD 200 7.0 100 0 -100 6.5 -200 -300 MSEK NOK/USD -400 6.0 -500 -600 -700 5.5 -800 -900 -1…
  12. CAPITAL MARKET DAY – Lundin Petroleum – slide 12
    19 2008 Forecast Financial Items - Other Revus Shares Bought 9.2% of issued shares 57 NOK/share Sold NOK 110/share Profit MUSD 31.8 No tax charge recorded Thistle Incident Insurance Claim MUSD 14.4 gain booked in Q4…
  13. CAPITAL MARKET DAY – Lundin Petroleum – slide 13
    20 2008 Forecast Taxation 2008 effective rate of tax 101% Current tax charge (0.50) USD/boe Deferred tax charge 11.70 USD/boe Note: Norway 2008 exploration cash tax refund to be received Dec 2009 350 MNOK (5.30…
  14. CAPITAL MARKET DAY – Lundin Petroleum – slide 14
    21 Effective Forecast Tax Rate Reconciliation 2008 effective tax rate before one-off items: 52% Exploration costs - Sudan and Russia Impairments - Russia, Tunisia and Indonesia Financial items - Exchange Movements, Revus…
  15. CAPITAL MARKET DAY – Lundin Petroleum – slide 15
    22 2008 Forecast Operating Cash Flow Netback (USD/boe) 2008 Forecast Revenue 81.75 Cost of operations -21.00 Tariffs -2.70 Production taxes -7.10 Stock movements 0.60 Cash Margin Netback 51.55 Cash taxes 0.50 Operating…

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