WEBCAST PRESENTATION 12th NOVEMBER 2014 3Q 2014 RESULTS
WEBCAST PRESENTATION 12th NOVEMBER 2014 3Q 2014 PERFORMANCE
GAS DISCOVERY ON PEGASUS WEST WEBCAST PRESENTATION 12TH NOVEMBER 2014 4
HIGHLIGHTS Success on the Pegasus West well in the UK. The well has been tested at a combined rate of circa 91 million standard cubic feet of gas per day (MMscfpd) from three Carboniferous intervals. All necessary agreements signed…
UK Exploration & Appraisal
SNS CARBONIFEROUS PLAY FAIRWAY Atlantic Petroleum accessed considerable expertise and exposure to SNS, especially the emerging Carboniferous play fairway through its purchase of Volantis Several TCF of gas have been discovered…
UK P1724, P1727 & P2128 PEGASUS COMPLEX Pegasus Complex : Atlantic Petroleum 10% Pegasus West Well Results: 43/13b-7 Pegasus West announced as finding gas on 12th September 2014 Following logging and coring, discovery has been…
UK P2126 - AURORA JV partners & equities: Centrica 45% (operator) GDF Suez 45% Aurora Atlantic Petroleum 10% Area: Southern North Sea, close to Breagh Field Intra-Carboniferous structures, reservoirs & seals Pegasus Large…
UK P1906 - YORK AREA JV partners & equities: Centrica 52.5% (operator) Serica Energy 37.5% Atlantic Petroleum 10% - 5% carried Area: Southern North Sea, close to York Field Rotliegend & Intra-Carboniferous structures, reservoirs…
UK P2082 - SKERRYVORE JV partners & equities: Parkmead 30.5% (operator) Atlantic Petroleum 30.5% Bridge Energy 25% Dyas 14% Area: Central North Sea, close to Orion, Talbot, Cawdor & Flyndre Adjacent to salt diapir Multiple…
UK 28th ROUND OFFERS FOR AWARD Licences with existing 16/22c (split) North Burghley discoveries 14/25a (part) Perth West Block 20/3c & 20/4a (part). AP 50% (Polecat & Marten 30/17e discoveries) 20/4a (part) & Skerryvore SW…
Norway Exploration
BUILDING A POSITION AROUND NEW INFRASTRUCTURE PL528/528B Ivory (Blocks 6707/8,9,10(part) and 11 Ivory Well Currently Drilling Farm in 2013 Recoverable resources up to 306 MMboe Gas prone area with possibility for oil Centrica 40% (Op),…
PL528/528B IVORY - NORWEGIAN SEA JV partners & equities: Centrica 40% (Op.), Statoil 35%, Rocksource 10%, Atlantic Petroleum Norge 9%, Repsol 6% Gross recoverable resources up to 306 MMboe Gas prone area with possibility for oil…
UK Developments
ORLANDO ON TRACK FOR 2016 FIRST OIL JV partners & equities Iona Energy 75% (Operator), Atlantic Petroleum 25% Orlando Field CPR estimates Orlando net 2P reserves of 3.8 MMboe Orlando initial rates expected at 10,000+ bopd…
NEAR DEVELOPMENTS KELLS & PERTH KELLS P1607 3/8d Iona Energy (Operator) 75%, Atlantic Petroleum 25% CPR estimates Kells net 2P reserves of 2.25 MMboe Kells initial rates expected at 7,000+ bopd First production expected 2017…
Production & Financial Performance
2014 PRODUCTION YTD PRODUCTION IMPACTS Revised annual production guidance 1,520-1,600 boepd Ettrick & Blackbird Current average production 1,597 boepd Ettrick and Blackbird fields annual shutdown commenced in end June and…
INCOME STATEMENT First 9 months of 2014 9 months 9 months to 30th Sep to 30th Sep DKK MM 2014 2013 Revenue 261.6 328.3 Gross Profit Average realized oil price USD 107.4/bbl Costs of sales -183.7 -158.6 (USD 109.5/bbl to 30th Sep…
FINANCIAL POSITION & CASH FLOW First 9 months of 2014 Balance sheet DKK MM 30th Sep 2014 End 2013 Total assets 1,390.6 1,237.2 - Production/development assets 642.3 621.5 - Exploration/appraisal assets 229.9 216.7 - Cash and cash…
Summary & Outlook
TARGETS 2014 TARGETS 2014 PRODUCTION FINANCIAL EXPLORATION Production in 2014 average EBITDAX in the range Drill 4 exploration/appraisal between 1,5201,600 DKK 125MM - 175MM wells targeting 86MMboe of boepd net net un-risked…
SUMMARY The portfolio is delivering Large exploration upside. Pegasus West success has got follow on potential Two wells to be drilled in the UK Southern Gas Basin in 2015/16 One well to be drilled in the UK Central North Sea…
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