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JUNE 2011 ANNUAL GENERAL MEETING – Northern Petroleum Plc

Northern Petroleum Plc · Jun 29, 2011 · 56 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 2011 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 1
    AGM June 29th 2011 Northern Petroleum Plc
  2. JUNE 2011 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 2
    January 2010 Geesbrug gas field on-stream for first month of commercial production Tiendeveen-1 reaches Total Depth after drilling difficulties. Made ready to test Slide 2
  3. JUNE 2011 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 3
    March 2010 Northern as Operator completed 1,520 km 3D seismic survey offshore Sicily paid by Shell Zuid Friesland III licence awarded with 2 gas discoveries (NAM, Total & Suncor as partners) Slide 3
  4. JUNE 2011 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 4
    April 2010 Baxters Copse existing oil discovery on new UK onshore permit assessed by RPS to give Northern 2.66 million barrels of 2P reserves Nigel Wright joins the Board Slide 4
  5. JUNE 2011 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 5
    June 2010 Place 11,764,706 shares to raise 11.5 million Co-operation Agreement concluded with PGS Slide 5
  6. JUNE 2011 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 6
    July 2010 New Italian Decree introducing offshore drilling constraints affecting Northern less than Market chatter and Daily Telegraph article unfortunate headline suggest. The New regulations affect inshore waters, but are…
  7. JUNE 2011 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 7
    August 2010 Nigel Wright leaves the Board. Chris Foss resumes previous role. Slide 7
  8. JUNE 2011 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 8
    September 2010 Brakel gas field starts commercial production. Slide 8
  9. JUNE 2011 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 9
    November 2010 UK sales efforts discontinue as drilling starts at Markwells Wood Operations generally harmonious with local residents Slide 9
  10. JUNE 2011 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 10
    December 2010 The drilling of the La Tosca prospect is farmed out to Orca Exploration Group Inc The Wijk en Aalburg gas field is placed on-stream, Northerns fourth Slide 10
  11. JUNE 2011 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 11
    January 2011 Oil discovery at Markwells Wood confirmed. Commencement of core analysis and development of acidizing programmes prior to testing Slide 11
  12. JUNE 2011 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 12
    March 2011 Farmout of seismic programmes in Southern Adriatic to Azimuth Limited Slide 12
  13. JUNE 2011 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 13
    March 2011 Drilling operations start of the Zdyus prospect offshore Guyane Slide 13
  14. JUNE 2011 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 14
    April 2011 Shell becomes Representivo Unico for Joint Venture offshore West Sicily Slide 14
  15. JUNE 2011 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 15
    May 2011 12.6% downgrade of 2P reserves and reduction to 2011 production forecasts for Netherlands. Company considered well placed to absorb this change and after reassessment of technical factors continue to develop fields in the…
  16. JUNE 2011 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 16
    89.4 Millions Barrels at 31st December 2010 Operator 50 Licences/Non Operator 3 Licences United Kingdom: Netherlands: 10 onshore exploration 6 onshore production licences and production licences 1 offshore production licence 1…
  17. JUNE 2011 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 17
    Planned Activities Farmout of 15% of 2 Permits in Southern Adriatic to Azimuth, plan to acquire a 2D and two 3-D seismic surveys Working with Shell on a drilling decision/forward plan for offshore west of Sicily fold and thrust belt…
  18. JUNE 2011 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 18
    AGM Financial Summary 29th June 2011 Northern Petroleum Plc
  19. JUNE 2011 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 19
    2010 Financials - Summary Year ended Year ended 31 December 31 December 2010 2009 000 000 Revenue 14,968 5,084 Gross profit 6,697 1,482 EBITDA (i) 5,083 (2,231) Adjusted EBITDA (ii) 6,475 (174) Loss for the year (1,155)…
  20. JUNE 2011 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 20
    2010 Financials - Highlights The Group achieved record revenues of 15 million; Northern made a pre tax loss of 0.02 million for the year, as a consequence of additional non cash depletion and impairment charges of approximately 3…
  21. JUNE 2011 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 21
    Financials Current and Forward As at 27 June 2011 Northern had 24.5 million of cash; The forecasted range for 2011 Group production is now 1,550 to 1,650 boepd; Northern expects to make capital investments of approximately 15…
  22. JUNE 2011 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 22
    End of Presentation 29th June 2011 Northern Petroleum Plc
  23. JUNE 2011 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 23
    AGM Resolutions 29th June 2011 Northern Petroleum Plc
  24. JUNE 2011 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 24
    Resolution 1 - Ordinary To receive the report of the Directors and the audited accounts for the year ended 31 December 2010. Northern Petroleum Plc AGM Resolutions Slide 24
  25. JUNE 2011 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 25
    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 25
  26. JUNE 2011 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 26
    Resolution 3 - Ordinary To re-elect A N Brewer (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 26
  27. JUNE 2011 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 27
    Resolution 4 - 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…
  28. JUNE 2011 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 28
    Resolution 5 - 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…
  29. JUNE 2011 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 29
    Resolution 6 - 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…
  30. JUNE 2011 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 30
    The AGM is now closed Northern Petroleum Plc
  31. JUNE 2011 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 31
    Post AGM Presentation Northern Petroleum Plc
  32. JUNE 2011 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 32
    Netherlands: Potential to Increase Production Producing Waalwijk P12 Drenthe IV- Grolloo Drenthe III Geesbrug Brakel Andel III - Wijk en Aalburg Reserves under development Drenthe III - Geesbrug expansion Papekop Andel III Ottoland…
  33. JUNE 2011 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 33
    Netherlands Gas Prices 2010 - 2011 Slide 33
  34. JUNE 2011 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 34
    West Netherlands Basin unconventional oil shale potential NuTech Energy Alliance report quote based on the analysis of eight wells in the Northern operated licences in the West Netherlands Basin In further analysing the shale, the…
  35. JUNE 2011 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 35
    ITALY Prospects, leads and fields distribution Slide 36
  36. JUNE 2011 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 36
    ITALY Prospects, leads and fields distribution Slide 37
  37. JUNE 2011 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 37
    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…
  38. JUNE 2011 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 38
    Rovesti SSE Rovesti-1 NNW Top Pliocene Top Messinian Top Carbonate Top Jurassic/ dolomites Top Triassic km2 11.725 Oil presence in Areal extent Rovesti = 2370m based upon ODT TVDSS Spill points = 2562m…
  39. JUNE 2011 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 39
    Rovesti In Place volumes & Reserves STOIIP (million of barrels) P90: 144 MMbbls P50: 199 MMbbls Reserves based upon P10: 256 MMbbls a Productivity Index of Mean: 199 MMbbls 1.5 (horizontal wells) Reserves calculation…
  40. JUNE 2011 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 40
    Giove Drilled 1998 Enterprise Oil Giove-1 Water depth c. 600m SW NE Platform margin build-up Oligocene to Cretaceous reservoir Trap located on flank of basin. Constrained by dip and major basin margin Tested by Giove-1 and…
  41. JUNE 2011 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 41
    Giove In Place volumes and Reserves STOIIP (Million of barrels) P90: 73 P50: 135 P10: 218 Mean 142 Reserves calculation Blackwatch Petroleum Services
  42. JUNE 2011 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 42
    North Sea analogue Brae Trend Example of oil trapped on the shelf, against the shelf margin and in the basin North Sea Southern Adriatic Shelf margin Shelf margin Rovesti Brae Giove Cygnus Aquila Shelf margin…
  43. JUNE 2011 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 43
    South Brae, Miller Fields North Sea 16/8b-3 16/8b-2 16/8-1 16/7a-8 16/7a-10 South Brae Field Miller Field Depositional model South Brae field after C.C.Turner et al
  44. JUNE 2011 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 44
    Aquila field (being re-developed by Eni) SW NE Giove Aquila Top Pliocene Top Messinian Top Carbonate Top Jurassic/ dolomites Top Triassic Aquila field structural setting analogous to Miller field, Viking…
  45. JUNE 2011 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 45
    Cygnus Prospect - re-sedimented carbonates as at Aquila NW SE Top Pliocene Cygnus Top Messinian Top Carbonate Schematic of turbidite fan complex Aquila field Medusa discovery Area of greater erosion fan…
  46. JUNE 2011 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 46
    Cygnus Prospect Cygnus prospect located down dip of platform margin toe of slope location. SW Seismic character change NE beneath Top Carbonate and likely lateral extension basinwards as at Aquila field Medusa discovery Top…
  47. JUNE 2011 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 47
    Comparison - Falklands & Adriatic Sea Lion is a submarine fan, Cygnus prospect and Aquila field are submarines fans Falklands Southern Adriatic Approximate SAME SCALE Shelf margin Sea Lion Rovesti Giove Cygnus…
  48. JUNE 2011 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 48
    Southern Adriatic Analogue - Golden Lane - Mexico Example of oil trapped in carbonates on the shelf, against the shelf margin and in the basin Data source - IHS POZA RICA FIELD STOIIP: 4810 MMbbls Reserves: 2070 MMbbls GIIP:…
  49. JUNE 2011 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 49
    Sicily Channel Potential Prospects, leads and fields distribution 600 million bbls 800 million bbls Over 1 Tcf Gas being prospect in Liassic in 4 Prospects developed by Eni Carbonate in three discoveries 450 million bbls…
  50. JUNE 2011 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 50
    Ionian Sea Prospects, leads and fields distribution Slide 51
  51. JUNE 2011 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 51
    Eastern Po Valley Potential Prospects, leads and fields La Tosca La Tosca mean 44 bcf Other 100 bcf Slide 52
  52. JUNE 2011 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 52
    United Kingdom Production, three oil discoveries plus exploration Existing Discoveries Production PEDL126 Markwells Wood Oil Discovery to be tested Q3 2011 PL211 (Horndean) & PEDL 070 (Avington) PEDL233 Baxter's Copse Oil Discovery…
  53. JUNE 2011 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 53
    Guyane Disputed Boundary Boundary Settled Slide 54
  54. JUNE 2011 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 54
    Guyane Currently Drilling 300-700 million bbl. Zdyus prospect Northern has 1.25% interest, Tullow Oil 27.5%, Shell 45%, Total 25% Also a billion barrel potential in giant Matamata prospect Slide 55
  55. JUNE 2011 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 55
    Planned Activities Farmout of 15% of 2 Permits in Southern Adriatic to Azimuth, plan to acquire a 2D and two 3-D seismic surveys Working with Shell on a drilling decision/forward plan for offshore west of Sicily fold and thrust belt…
  56. JUNE 2011 ANNUAL GENERAL MEETING – Northern Petroleum Plc – slide 56
    End of Post AGM Presentation Northern Petroleum Plc

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