2012 REVENUE AND CAPITAL EXPENDITURE GEOGRAPHICAL SPLIT Revenue Hydrocarbon sales from The Netherlands dominated top line revenue additional 1.7m in tariff and P12 compensation income part of which is recognised as Other operating…
2012 FULL YEAR RESULTS SUMMARY Results Summary Year ended Year ended 31 December 2012 31 December 2011 000 000 Revenue 12,407 24,531 Gross profit 5,604 12,117 EBITDA(i) 2,835 18,251 (Loss) / profit from operations for the year (315)…
NORTHERNS SHARE PRICE PERFORMANCE Damille Investments II 80 French Guiana purchased The Netherlands GM-ES-3 well shares to 5.57%. reserve completed Share price:54p downgrade . 70 operations with Share price: 48p no significant…
EXAMINING THE BUSINESS VALUE PROPOSITION Our production costs and our other admin expenses year to date are below budget 10
EXAMINING THE BUSINESS VALUE PROPOSITION Shares in issue as of 25th June 2013 95,365,660 Share price at close 25th June 2013 33p Market capitalisation 31.2 million Cash balance as at 31 December 2012 18.4 million Enterprise…
EXAMINING THE BUSINESS VALUE PROPOSITION Northern is an established Operating oil company with an in- house team acquiring and managing projects and trading assets in the full cycle of the phases of the industry; Exploration,…
EXAMINING THE BUSINESS VALUE PROPOSITION Production Projects: Five producing Netherlands gas fields managed by Northern. Interests in two producing oil fields in the UK. Tariff income from P12 facilities offshore The Netherlands.…
EXAMINING THE BUSINESS VALUE PROPOSITION Exploration: Planned 3D seismic over Cygnus resource up to 790 million recoverable barrels resource, Corvus an up to 467 million barrel potential prospect and the Rovesti and Giove…
EXAMINING THE BUSINESS VALUE PROPOSITION Unconventional: A high quality shale oil position in the southwest Netherlands. Licensed positions in the south of England under study. A 100% Northern licence of 5,800 km in South…
EXAMINING THE BUSINESS VALUE PROPOSITION New exploration projects declared: The Company, being involved in the successful Zaedyus deep-water oil discovery in 2011, rapidly absorbed the expertise of its partners, Shell, Total and…
ASSET SUMMARY Italy French Guiana The Netherlands Exploration Exploration Development, Production & Shale United Kingdom Canada South Australia Production Development Exploration to Production & Shale 17
2012 HIGHLIGHTS Production: Average daily production 886 barrels of oil equivalent, (an annual total of 0.32 million) including compensation for shut-in production from eight fields in The Netherlands and the UK. Finance: Revenue…
2012/13 HIGHLIGHTS Production: Well intervention and facilities optimisation programmes were successfully undertaken in The Netherlands. Adding tubing extensions in conjunction with foam injection increased production at Wijk en…
2012/13 HIGHLIGHTS A four well follow up exploration drilling programme to the 2011 Zaedyus oil discovery started in French Guiana in July 2012. The assessed prospectivity of the Southern Adriatic greatly increased following the…
LEARNING FROM EXPERIENCES The slow progress in realising asset potential has been addressed. Northerns screening factors includes ease of government authorisation of approvals, business ethics, culture and stability of existing…
LEARNING FROM EXPERIENCES Revisions of reported reserves suggest that the initial plans greatly relied on the independent consultants judgment and a stronger in- house team at the time might have been better. This team is now in…
LEARNING FROM EXPERIENCES Our strategy is fit to survive in this kind of market. We are mindful that in seeking new projects, they should have a low entry cost enabling the bulk of expenditures to be deployed in adding material…
BUSINESS MODEL Northern generates cash from all phases of its business cycle; farm outs, trading after asset-enhancing exploration and development, and cash from production. 24
THE FUTURE PLAN To gradually increase production to 3500 boepd. To be involved in three or more exploration wells per annum, a success in which would be material for the Company. To continue to identify low entry cost…
UNCONVENTIONAL PROJECTS The Netherlands NuTech Energy Alliance report on the southwest Netherlands concludes: * Good TOC * Good porosity * Good permeability An estimated gross reserves potential of up to 30 billion barrels of oil in…
ACTIVITIES 2013/14 Ongoing reservoir evaluations to establish potential for extending Waalwijk field life. Furthering the permit applications submitted for further development for Diever West, Lheebroek and Vlist. Reviewing…
THE CANADIAN ENTRY Corporate strategy Acquisition requires low cost entry to projects with material upside Further cash flow from production needed to sustain the Company and fund growth Production growth Can be achieved faster than…
PLAY CONCEPT Geological setting Carbonate reefs formed in a shallow sea 400 million years ago Sealing anhydrites Oil sourced locally from similar aged shales Over 1000 individual reefs present in the local area 29
PLAY CONCEPT Opportunity High quality proven reservoirs, 56 million bbls of oil originally in place Proven production from many wells Low initial recovery factor to date of c.20% Core Multiple targets in close proximity Scope…
FURTHER UPSIDE POTENTIAL Possible future plans Existing leases held 56 million bbls of oil Northwest Alberta Redevelopment in place (Alberta Energy Regulator Oil Export vs Time estimate) Oil recovery on our leases to date has been…
NORTHERN PETROLEUM PLC 26 June 2013 Annual General Meeting Resolutions
Resolution 1 - Ordinary To re-appoint KPMG Audit Plc as auditors and to authorise the Directors to fix their remuneration 34
Resolution 2 - Ordinary To re-elect CJ Foss (who retires from office in accordance with Article 108 of the Companys Articles) as a Director of the Company 35
Resolution 3 - Ordinary To re-elect JM White (who retires from office in accordance with Article 108 of the Companys Articles) as a Director of the Company 36
Resolution 4 - Ordinary To re-elect KR Bush (who retires from office in accordance with Article 113 of the Companys Articles) as a Director of the Company 37
Resolution 5 - Ordinary To re-elect NT Morgan (who retires from office in accordance with Article 113 of the Companys Articles) as a Director of the Company 38
Resolution 6 - Ordinary To authorise the Directors, pursuant to and in accordance with section 551 of the Companies Act 2006 (the Act) to exercise all powers of the Company to allot ordinary shares in the capital of the Company and…
Resolution 7 Special Resolutions To authorise the Directors, pursuant to and in accordance with section 570 and 573 of the Act, to allot equity securities (as defined in section 560 of the Act) for cash as if sub-section 561 of the…
Resolution 8 Special Resolutions To authorise the Company, generally and unconditionally, to make market purchases (within the meaning of section 693(4) of the Act) pursuant to and in accordance with section 701 of the Act of fully paid…
Loading...
