WEBCAST PRESENTATION Q1 2012 RESULTS 30th May 2012
1Q 2012 Highlights EBIT in 1Q 2012 was DKK 65.3MM, which is the highest ever EBITDAX in 1Q 2012 was DKK 104.4MM Cash and cash equivalents at end 1Q 2012 was DKK 169MM, compared to DKK 114MM at the end of 4Q 2011. Cash and…
Balance Sheet and Cash Flow 1st Quarter 2012 DKK MM Balance Sheet 1Q 2012 4Q 2011 Total assets 828.9 791.5 - Cash and cash equivalents 169.0 114.3 Equity 451.8 444.5 Bank debt 105.3 105.0 - Long term 78.0 65.0 - Short term…
Production Assets Ettrick & Blackbird P.317, P.273 & P.1580, Blocks 20/2a, 20/3a, & 20/3f JV partners and Interests: Nexen (Operator) 79.73% / 90.60% in Blackbird. Dana Petroleum 12% / 0% in Blackbird. AP 8.27% / 9.40% in…
Production Assets Chestnut, P.354, Block 22/2a JV partners and Interests: Centrica Energy Upstream (Operator) 69.88%, Dana Petroleum (E&P) Limited 15.12%, Atlantic Petroleum 15.00% The Chestnut field is currently producing at…
Development Assets Perth, Licences P.218 & P.588, Development planning for the Perth field Block 15/21a,b,c,f is progressing. Operator DEO submitted an JV partners and Interests: Environmental Statement and Revised DEO (Operator)…
Reserves & Resources 9 May 2012
Orchid 29/1c-9 Discovery Atlantic Petroleum 10% Summit 45% (operator), Valiant 30%, Trapoil 15% Four way dip closure over salt swell at Ekofisk & Tor Chalk levels. Encountered 280 feet of formation with good hydrocarbon shows…
Faroes, L006 - Brugdan II Brugdan Deep well planned for spudding June 2012 Water Depth 400 500m Equities: Statoil 50%, ExxonMobil 49%, Atlantic Petroleum 1% P50 prospective resources net to AP 9.2mmboe unrisked. Risked:…
Faroes Exploration Through its regional knowledge, AP is pursuing the East Faroe ridge, the next ridge across from the Tobermory Corona/Westray ridge system in the UK. Significant discoveries in the UK play include…
UK P.1655, Block 15/21g - Spaniards 2012 well 100% carried by Premier Group Spaniards equities Premier 28% (op), Nautical 21%, Serica 21%, DEO 12.62%, Faroe Petroleum 8.4%, Maersk 5.74%, AP 3.24% Spaniards well will be…
AP Licences & Wells planned for 2012 2013 Spaniards 2012 well Orchid Drilled Pegasus West 2013 well Endymion 2013 well Brugdan II 2012 well 14 May 2012
Exploration & Appraisal 15 May 2012
Planned Activities (2012 to 2013) 2012 2013 Planned Activities (2012 to 2013) 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q L.006 Brugdan Deep Brugdan II well Faroe L.014 Marselius 2D Seismic Islands L.016 Klubkan 3D Seismic (proposal)…
Global Energy Consumption Source: BP Energy Outlook 2030. January 2012 17 May 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…
Outlook Guidance remains unchanged. 700k800k boe production & DKK 200 270MM EBITDAX The Blackbird field development completed with the drilling of an injector well Well work-overs and the new water injector designed to maintain…
Contact Headquarters, Faroe Islands Atlantic Petroleum P/F P.O. Box 1228 Gongin 9 FO-110 Trshavn Faroe Islands Tel +298 350 100 Ben Arabo, CEO UK offices, London Tel +298 350 100 Atlantic Petroleum (UK) Limited Mobile…
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