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JUNE 2012 ANNUAL GENERAL MEETING – Northern Petroleum Plc

Northern Petroleum Plc · Jun 29, 2012 · 65 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. JUNE 2012 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 1
    Northern Petroleum Plc AGM June 29th 2012 Slide 1
  2. JUNE 2012 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 2
    Activities During The Period Since Last AGM In parallel with the mid-2011 downward reserve adjustment an evaluation of production data to date and reprocessing and remapping of 3D seismic over all areas in The Netherlands. A summary so…
  3. JUNE 2012 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 3
    Activities During The Period Since Last AGM 3.2 million sale of Northerns share of the Vinkega gas discovery and identification of the on-trend Diever West prospect on the adjacent Drenthe III licence. Southwest Netherlands shale oil…
  4. JUNE 2012 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 4
    Corporate Overview 2010 2011 Production (boe): 0.44 0.58 Gross Revenue: 15.0 m 24.5 m + Production Costs: 4.9 m 5.3 m + Net Administration costs: 4.6 m 3.7 m - Profit from Operations 1.5 m 11.0 m + Profit (1.2 m) 6.2 m + Cash in…
  5. JUNE 2012 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 5
    Reserves Slide 5
  6. JUNE 2012 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 6
    Risk Management Geographical and geological risks are reduced by the diversity by country and basin. Risk is further reduced by mainly investing in basins with proven economic hydrocarbon production. All activities are governed…
  7. JUNE 2012 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 7
    The Northern Petroleum Business Model Slide 7
  8. JUNE 2012 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 8
    Northerns Activities Interest in 2 producing oil 6 producing gas fields fields 2 oil fields awaiting development Tested oil discovery 2 currently planned exploration wells Further oil discoveries Shale oil potential and…
  9. JUNE 2012 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 9
    Northern Petroleum Licences and Applications that are Material Low cost Operator in Proven Petroleum Provinces Focussed on adding value to Shareholders by a Clear Business Model No Indebtedness Exemplary Environmental and…
  10. JUNE 2012 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 10
    Northern Petroleum Slide 10
  11. JUNE 2012 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 11
    The AGM resolutions Slide 11
  12. JUNE 2012 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 12
    Resolution 1 - Ordinary To receive the report of the Directors and the audited accounts for the year ended 31 December 2011. Northern Petroleum Plc AGM Resolutions Slide 12
  13. JUNE 2012 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 13
    Resolution 2 - Ordinary To re-appoint KPMG Audit Plc as auditors and to authorise the Directors to fix their remuneration. Northern Petroleum Plc AGM Resolutions Slide 13
  14. JUNE 2012 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 14
    Resolution 3 - Ordinary To re-elect G L Heard (who retires from office in accordance with Article 108 of the Company's Articles) as a Director of the Company. Northern Petroleum Plc AGM Resolutions Slide 14
  15. JUNE 2012 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 15
    Resolution 4 - Ordinary To elect Dr R W Gaisford (who retires from office in accordance with Article 113 of the Company's Articles) as a Director of the Company. Northern Petroleum Plc AGM Resolutions Slide 15
  16. JUNE 2012 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 16
    Resolution 5 - Ordinary To elect M L Eaton (who retires from office in accordance with Article 113 of the Company's Articles) as a Director of the Company. Northern Petroleum Plc AGM Resolutions Slide 16
  17. JUNE 2012 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 17
    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…
  18. JUNE 2012 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 18
    Resolution 7 - Special 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 Act did…
  19. JUNE 2012 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 19
    Resolution 8 - Special 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…
  20. JUNE 2012 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 20
    The AGM is now closed Slide 20
  21. JUNE 2012 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 21
    Post AGM presentation Slide 21
  22. JUNE 2012 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 22
    The Netherlands Slide 22
  23. JUNE 2012 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 23
    The Netherlands 6 producing gas fields 2 oil fields to be developed 2 development wells to be drilled 2 exploration wells to be drilled Shale oil potential Slide 23
  24. JUNE 2012 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 24
    West Netherlands Basin - Shale Oil Potential 20-30 billion of barrels of oil in place Rock characteristics compare very favourably with US analogues Eagle Ford Utica Shale Report Concludes: Good TOC Good porosity Good…
  25. JUNE 2012 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 25
    The Netherlands Seismic Reprocessing Drenthe III Licence & Oosterwolde Seismic reprocessing project Oosterwolde licence merging seven 3D surveys commenced in April 2011 with completion due September 2012 Geesbrug fast track…
  26. JUNE 2012 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 26
    Geesbrug field two development wells planned Base Zechstein Depth Map Tiendeveen-1 Geesbrug-3 well trajectory Geesbrug-1 Geesbrug field outline Geesbrug-2 well trajectory Slide 26
  27. JUNE 2012 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 27
    Geesbrug-2 development well trajectory Well designed as a long reach 1,000 metre inclined trajectory for planned multi-stage frac Slide 27
  28. JUNE 2012 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 28
    Drenthe III Production Licence Prospect inventory pre seismic reprocessing Gas field Upthrown prospect Downthrown prospect R1 0 R7 R9 R8 Diever West Boterveen West Diever East R6 Boterveen R5 R2 North Lheebroek Eesveen North…
  29. JUNE 2012 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 29
    Diever West prospect (30 Bcf potential) and relationship to Vinkega gas field VKG- 1 R7 B Vinkega Diever West A A Vinkega R7 Diever West B Slide 29
  30. JUNE 2012 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 30
    The Netherlands 3D and 2D Seismic Reprocessing Papekop, Andel V, Utrecht and Engelen Seismic reprocessing project merging five 3D surveys plus reprocessing 960 km 2D seismic commenced in April 2011 with completion due July 2012…
  31. JUNE 2012 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 31
    The Netherlands 2D to 3D seismic - uplift in data quality 2D seismic section Slide 31
  32. JUNE 2012 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 32
    The Netherlands 2D to 3D seismic - uplift in data quality 3D seismic section Slide 32
  33. JUNE 2012 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 33
    1 km Papekop 3D original processing in time TWO-WAY TIME (second) 1 km Slide 33
  34. JUNE 2012 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 34
    1 km Papekop 3D fast track pre-stack depth migration processing DEPTH (metre) Slide 34
  35. JUNE 2012 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 35
    1 km Papekop 3D fast track pre-stack depth migration processing TOP RESERVOIR DEPTH (metre) Slide 35
  36. JUNE 2012 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 36
    Vlist structure planned well on 47 bcf target B A B A Southern extension of HST-2B tight gas discovery Min. closure equivalent to gas water contact in HST-2B Max closure to 2300 m ss matches spill point from Ottoland and…
  37. JUNE 2012 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 37
    United Kingdom Slide 37
  38. JUNE 2012 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 38
    United Kingdom Interest in 2 producing oil fields Tested oil discovery Further exploration Slide 38
  39. JUNE 2012 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 39
    UK Operations Markwells Wood Wellsite and access track Slide 39
  40. JUNE 2012 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 40
    Weald Basin 1987 2D seismic 1987 original processing N S N STORRINGTON OILFIELD Slide 40
  41. JUNE 2012 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 41
    Weald Basin 1987 2D seismic - 2008 reprocessing giving improved resolution S N STORRINGTON OILFIELD Slide 41
  42. JUNE 2012 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 42
    P1916 & PEDL 240 Isle of Wight Prospect Sherwood sandstone target (reservoir at Wytch farm) B A B Prospect target A Sherwood sandstone depth map Sherwood target Northern Petroleum (GB) Ltd, PEDL 240: TCM & OCM, 9th December…
  43. JUNE 2012 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 43
    Italy Slide 43
  44. JUNE 2012 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 44
    Italy 4 core areas offshore Proven hydrocarbon systems La Tosca-1 onshore well planned for July/August 2012 Slide 44
  45. JUNE 2012 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 45
    Longastrino permit La Tosca prospect Slide 45
  46. JUNE 2012 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 46
    Longastrino permit Schematic Geological Cross Section Projected Longastrino permit Series of thrust anticlinal trends with backthrusts, truncations & onlaps Alfonsine gas field (300 Bcf) only 2 Km to the south Ravenna gas…
  47. JUNE 2012 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 47
    La Tosca wellsite Rig contract in place and well spud planned for late July/August Orca Exploration to earn up to 75% by funding drilling and testing Slide 47
  48. JUNE 2012 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 48
    ITALY Offshore Core Areas Large Reserve Potential 4 1. West of Sicily Thrust Belt 2. Sicily Channel 3. Biogenic and Thermogenic gas offshore Sicily and in the Taranto Gulf 1 4. Southern 3 Adriatic 2 Slide 48
  49. JUNE 2012 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 49
    ITALY Offshore Core Areas Large Reserve Potential 1. West of Sicily 4 Thrust Belt 2. Sicily Channel 3. Biogenic and Thermogenic gas offshore Sicily and in the Taranto Gulf 4. Southern Adriatic 1 3 2 Slide 49
  50. JUNE 2012 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 50
    Southern Adriatic Fields and Prospects 53.16 million barrels of Probable Reserves in Rovesti and Giove discoveries Real potential in the exploration upside estimated at 8.5 billion barrels of oil in place and 10 TCF of gas in…
  51. JUNE 2012 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 51
    2011 2D Seismic Acquisition campaign brief summary Completed within timeframe (6 days) Adherence to all Ministry (including environmental) prescriptions No issues with fishing / shipping etc Full QHSE compliance 3 vessels - no…
  52. JUNE 2012 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 52
    2011 2D seismic acquisition Area of operation / manoeuvre / constraints 1 nautical mile safety exclusion zone for Aquila FPSO Betatank II Eni Concession (green outline) 12 nautical miles from coast protected area ItalyAlbania…
  53. JUNE 2012 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 53
    Rovesti structural mapping incorporating 2011 2D seismic S N A A 11.725 km2 A Oil presence in 10km Areal extent Rovesti from based upon ODT 2370m TVDSS Spill points = 2562m TVDSS, Oil Down To (ODT) = 2562m from log…
  54. JUNE 2012 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 54
    Rovesti 1994 2D seismic - reprocessed from paper copy S N 5km Slide 54
  55. JUNE 2012 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 55
    Rovesti improved resolution 2011 2D seismic S N Re-sedimented carbonate wedge or basin floor turbidites 5km Slide 55
  56. JUNE 2012 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 56
    Mercurio prospect 1994 2D seismic reprocessed from paper copy SW NE A A Mercurio A 5km A Slide 56
  57. JUNE 2012 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 57
    Mercurio prospect 2011 improved resolution 2D seismic SW NE A A Mercurio A 5km A Slide 57
  58. JUNE 2012 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 58
    Cygnus Prospect Cygnus prospect located down dip of platform margin toe of slope location. SW Medusa discovery Seismic character change NE beneath Top Carbonate and possible lateral extension basinwards A A Top…
  59. JUNE 2012 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 59
    Cygnus prospect improved resolution 2011 2D seismic S N A A Top Messinian Top Carbonate Top Jurassic/ dolomites A Top Triassic Cygnus prospect located down dip of platform margin toe of slope location.…
  60. JUNE 2012 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 60
    Permit areas for 3D seismic acquisition planned for 2012 Two 3D surveys planned for 2012 Survey 1 Survey 2 392km2 468km2 New environmental impact assessment submitted early 2012 Potential availability of vessel in October…
  61. JUNE 2012 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 61
    Guyane Slide 61
  62. JUNE 2012 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 62
    Offshore Guyane - Zaedyus Oil Discovery Opens up new oil province Rapid follow-up in 2012 Northpet Investments Limited has 2.5% interest*, Tullow Oil 27.5%, Shell 45%, Total 25% The first ever deep water well was also the first…
  63. JUNE 2012 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 63
  64. JUNE 2012 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 64
    Future near term plans Northern Petroleum continues to identify and appraise new projects in conjunction with progressing on its trading activities Field operations to optimise production rates in the Netherlands Analysis of long…
  65. JUNE 2012 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 65
    End of Post AGM Presentation Slide 65

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