Faroe overview Faroes exploration-led and production-backed strategy is delivering exceptional results Significant recent exploration successes in Norway: Snilehorn and Pil Substantial potential being realised across portfolio…
Faroes growth model building core value and scale Maintain significant portfolio of Prospective Resources Participate in Licence Rounds excellent track record of awards Proactive approach to farm-ins Grow Contingent Resources (2C)…
Faroe well positioned in lower oil price environment Financially robust Uncommitted cash on the balance sheet (92.5m at 31 Dec-14 unaudited) Significant head-room in existing debt facilities Low gearing level and low cost of debt…
Exploration and appraisal Drilling programme: current outlook Prospect Equity 2015 2016 Q1 Q2 Q3 Q4 Q1 Q2 Shango (Skirne East) * 20.0% Blink (Pil follow up well) * 25.0% Boomerang (Pil follow up well) * 25.0% Bister 7.5% Kvalross *…
Exploration and appraisal Significant Pil discovery 2 follow-up wells in 2015 2014 discovery Significant success - March 2014 - Faroe 25% Gross columns ca 135m of oil and 91m of gas Well test flowed at a stable rate of 6,710 bopd of…
Exploration/appraisal Shango: near-field exploration well in 2015 PL627, Total operator, Faroe 20% Located on the northern part of prolific Utsira High Large undrilled Jurassic structure Shango prospect de-risked by Skirne…
Translate 2C Contingent Resources to 2P Reserves Current 2C Contingent Resource Estimate summary Maximise project values through relatively low-cost pre-development activities Estimated Net 2C Resources Faroe Observations (mid case…
Build production base and grow reserves Producing assets Diversified production base with infill and near-field upside potential to boost production Brage Oil field in Norwegian Sea - Wintershall operated (Faroe: 14.25%) 2P Reserves…
Production Schooner & Ketch gas fields Acquisition deal in 2014 grows production and 2P reserves 2014 average annual production 3,300 boepd Added 5.9 million boe of 2P reserves at 1 Jan-14 Good potential to further boost production,…
Production Njord and Hyme on line and performing well The project to strengthen Njord A facility deck structure completed on time Njord and Hyme brought back on-stream in July 2014 as planned Snilehorn Draugen Hyme Performing well…
Key financials Revenues 2014 economic production* approximately 9,100 boepd 2015 production expected to be 8-10,000 boepd (approx 58% liquids and 42% gas) 2015 hedging: 268,000 bbls of oil, 90 puts and 52.6 mm therms (approx 835,000…
Summary and outlook Solid and proven business model delivering sustainable value growth, through drill-bit and transactions Exploration-led strategy continues to deliver material success, underpinned by strong cash flow Balanced…
Differentiators Excellent exploration Experienced management track record & clear strategy Financial strength Sustainable multi-well Excellent monetisation Strong Norway drilling programme track record position 15
Executive team Graham Stewart Chief Executive Officer Instrumental in founding Faroe Petroleum in 1998 Over 25 years experience in oil and gas technical and commercial affairs Previously finance director and commercial director at…
Appendices
Exploration/appraisal Bister near field exploration well in 2015 PL348, Statoil operator, Faroe 7.5% Building on Snilehorn success from late 2013, (Snilehorn gross recoverable resource range estimate of 57-101 mmboe) Bister…
Exploration/appraisal Kvalross Frontier exploration well in 2015 PL611, Wintershall operator, Faroe 40% Awarded in May 2011 in the Norwegian 21st Licensing Round Located in the Barents Sea to the south of OMVs significant Wisting…
Move 2C Contingent Resources to 2P Reserves Perth, Dolphin & Lowlander significant upside HOA enabling future joint development of Perth (Faroe 34.6%), Dolphin (34.6%) and Lowlander (100%) Lowlander, Dolphin and Perth estimated to…
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