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2010 ANNUAL RESULTS – Atlantic Petroleum

Atlantic Petroleum · Feb 25, 2011 · 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. 2010 ANNUAL RESULTS – Atlantic Petroleum – slide 1
    WEBCAST PRESENTATION 2010 ANNUAL RESULT 25th February 2011
  2. 2010 ANNUAL RESULTS – Atlantic Petroleum – slide 2
    LICENSE OVERVIEW Geographically focused on NW Europe Klubkan (10%) Marselius (40%) Stella Kristina (40%) Brugdan (1%) Perth (10.79%) Chestnut (15%) Marten (17.5%) Ettrick (8.27%) Hook Head Blackbird (8.27%)…
  3. 2010 ANNUAL RESULTS – Atlantic Petroleum – slide 3
    FINANCIAL RESULTS 2010 DKK million Income Statement 2009 2010 Revenue 219.3 422.5 Gross profit 54.6 166.0 Operating profit -75.6 147.3 Profit before taxation -60.4 163.1 Profit after taxation -54.9 109.1 Balance 2009 2010 Total…
  4. 2010 ANNUAL RESULTS – Atlantic Petroleum – slide 4
    PERFORMANCE BY QUARTERS 2010 3 months 3 months 3 months 3 months 31 December 30 September 30 June 31 March 2010 2010 2010 2010 DKK DKK DKK DKK Revenue 135,138,344 106,240,234 104,236,391 76,854,603 Cost of sales -75,272,024…
  5. 2010 ANNUAL RESULTS – Atlantic Petroleum – slide 5
    RESERVES Proven reserves Contingent resources Prospective resources (risked) MMBoe MMBoe MMBoe Start of 2010 3.4 5.3 0.4 Production -0.96 Net additions & revisions 0.5 0.5 15.8 End of 2010 2.9 5.8 16.2 6
  6. 2010 ANNUAL RESULTS – Atlantic Petroleum – slide 6
    FAROE ISLANDS HIGHLIGHTS 2010 Faroes Licence 006 extended to January 2013. Site survey acquired in 2010 for a potential exploration well Ongoing technical work on Licences 013 and 014 Seabed samples were collected over…
  7. 2010 ANNUAL RESULTS – Atlantic Petroleum – slide 7
    IRELAND HIGHLIGHTS 2010 During 2010, partners in the licence agreed to farm down up to 50% equity interest in the Hook Head oil discovery to Sosina subject to committing to drilling a fully funded well During 2010, partners…
  8. 2010 ANNUAL RESULTS – Atlantic Petroleum – slide 8
    UK HIGHLIGHTS 2010 - PRODUCTION Net production to Atlantic Petroleum was 960,000 barrels of oil equivalents (boe) in 2010 The Ettrick field produced a total of 6.63MM boe in 2010 The Chestnut field produced 2.74MM barrels (bbls) in…
  9. 2010 ANNUAL RESULTS – Atlantic Petroleum – slide 9
    UK HIGHLIGHTS 2010 The development of the Blackbird field has been sanctioned by Atlantic Petroleum. First oil expected in January 2012 Net contingent reserves in Perth have increased from 1.0 MMBbls to 1.7 MMBbls due to a…
  10. 2010 ANNUAL RESULTS – Atlantic Petroleum – slide 10
    PERTH DEO (Operator) 42.09% Faroe Petroleum 28% Maersk 19.13% Atlantic Petroleum 10.79% 11
  11. 2010 ANNUAL RESULTS – Atlantic Petroleum – slide 11
    SHARE PERFORMANCE 2010 Nasdaq OMX Copenhagen Nasdaq OMX Iceland DKK 240 220 200 180 160 140 120 1 Jan 1 Feb 1 Mar 1 Apr 1 May 1 Jun 1 Jul 1 Aug 1 Sep 1 Oct 1 Nov 1 Dec 12
  12. 2010 ANNUAL RESULTS – Atlantic Petroleum – slide 12
    2011 OUTLOOK Total production for 2011 is estimated to between 750,000 - 950,000 barrels net for the year EBIT is predicted in the range of DKK 90MM-150MM on an expected average realised oil price of 90 USD/barrel Optimise…
  13. 2010 ANNUAL RESULTS – Atlantic Petroleum – slide 13
    GOING FORWARD Increase production from existing assets Bring Blackbird and Perth developments on stream New asset acquisition Farm in or acquire new development and appraisal fields Acquire new exploration acreage Create value…
  14. 2010 ANNUAL RESULTS – Atlantic Petroleum – slide 14
    THE FUTURE We are embarking on the next step which will secure further value for the shareholders and secure Atlantic Petroleums place as a leading independent European E&P company. 15

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