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2014 ABGSCS SMALL AND MID CAP SEMINAR – Atlantic Petroleum

Atlantic Petroleum · Apr 3, 2014 · 27 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. 2014 ABGSCS SMALL AND MID CAP SEMINAR – Atlantic Petroleum – slide 1
    Copenhagen 3rd April 2014 ABGSCs Small and Mid Cap Seminar
  2. 2014 ABGSCS SMALL AND MID CAP SEMINAR – Atlantic Petroleum – slide 2
    THIS IS ATLANTIC PETROLEUM NW Europe exploration and production company Licence overview 42 licenses on UK, Norwegian, Faroese, Irish and Chestnut: 965 boepd in 2013 Dutch continental shelves Ettrick: 810 boepd in 2013 Three…
  3. 2014 ABGSCS SMALL AND MID CAP SEMINAR – Atlantic Petroleum – slide 3
    SIGNIFICANT ACHIEVEMENTS IN 2013 Acquired High Value Barrels through the Listed on the Oslo Stock Exchange to completion of the acquisition of 25% working attract a broader investor base and wider interest in UK licenses P1606 and…
  4. 2014 ABGSCS SMALL AND MID CAP SEMINAR – Atlantic Petroleum – slide 4
    RESERVES (CPR NUMBERS) MMBoe 60 Reserves 50 Contingent resources Prospective resources 40 30 20 10 0 2009 2010 2011 2012 2013 1) Source: Competent Persons Reports by Fugro Robertson (year 2009-2012) & GCA (year…
  5. 2014 ABGSCS SMALL AND MID CAP SEMINAR – Atlantic Petroleum – slide 5
    ORLANDO FIELD DEVELOPMENT Orlando Field UK Block 3/3b Iona Energy 75% (Operator), Atlantic Petroleum 25% Acquired in 2013 for 30million plus future production payments of 7.25million CPR estimates Orlando net 2P reserves of 3.8…
  6. 2014 ABGSCS SMALL AND MID CAP SEMINAR – Atlantic Petroleum – slide 6
    ORLANDO FIELD DEVELOPMENT Orlando Field Small field approximately 10km NE of Ninian Central Platform 1988 discovery by Chevron, appraised by two wells in 2011/2012 High quality Brent reservoir with 18% porosity and 50mD…
  7. 2014 ABGSCS SMALL AND MID CAP SEMINAR – Atlantic Petroleum – slide 7
    KELLS FIELD DEVELOPMENT Kells Field - UK Block 3/8b Iona Energy 75%, Atlantic Petroleum 25% Development plan Subsea tieback of one or two wells to Ninian Central Kells Field Platform. UK Block Second well 18 months after first…
  8. 2014 ABGSCS SMALL AND MID CAP SEMINAR – Atlantic Petroleum – slide 8
    INDICATIVE PRODUCTION PROFILE Production Profile 2014-2020 Assumptions boe/d Production profile beyond 2014 based Chestnut Ettrick Blackbird Orlando Kells on Gaffney Cline & Associates 6000 (GCA) 2P reserves as of 31st December…
  9. 2014 ABGSCS SMALL AND MID CAP SEMINAR – Atlantic Petroleum – slide 9
    PERTH Comments Perth P588 15/21b & 15/21c Located in the UK sector of the Central North Sea JV partners and interests: Parkmead Group (Operator) 52.13% Faroe Petroleum Limited 34.62% Atlantic Petroleum 13.35% CPR Estimates…
  10. 2014 ABGSCS SMALL AND MID CAP SEMINAR – Atlantic Petroleum – slide 10
    PERTH & LOWLANDER Source: Faroe Petroleum Unlocking the assets has potential to generate exceptional return COMPANY PRESENTATION APRIL 2014 11
  11. 2014 ABGSCS SMALL AND MID CAP SEMINAR – Atlantic Petroleum – slide 11
    CHESTNUT Comments Map Chestnut P354, Block 22/2a Located in the UK sector of the Central North Sea JV partners and interests: Centrica Energy Upstream (Operator) 69.875% Dana Petroleum (E&P) Limited 15.125% Atlantic Petroleum…
  12. 2014 ABGSCS SMALL AND MID CAP SEMINAR – Atlantic Petroleum – slide 12
    CHESTNUT: CONTINUED PERFORMANCE ABOVE EXPECTATIONS Production has increased over the last three years through increasing the choke size whilst monitoring for sand production Water Cut has stabilised just below 50% Ultimate…
  13. 2014 ABGSCS SMALL AND MID CAP SEMINAR – Atlantic Petroleum – slide 13
    ETTRICK Comments Map Ettrick P317 and P273, Blocks 20/2a and 20/3a Located in the Moray Firth region of the UK North Sea JV partners and interests: Nexen UK Limited (Operator) 79.73% Dana Petroleum (E&P) Limited 12.00% Atlantic…
  14. 2014 ABGSCS SMALL AND MID CAP SEMINAR – Atlantic Petroleum – slide 14
    BLACKBIRD Comments Map Blackbird P317, P273 and P1580, Blocks 20/2a, 20/3a and 20/3f Located in the Moray Firth region of the UK North Sea JV partners and interests: Nexen UK Limited (Operator) 90.60227% Atlantic Petroleum…
  15. 2014 ABGSCS SMALL AND MID CAP SEMINAR – Atlantic Petroleum – slide 15
    ETTRICK & BLACKBIRD FIELD EXTENSION ACTIVITIES Blackbird Ettrick Well Intervention Ettrick 2nd water Ettrick Infill Planned Blackbird first oil campaign (3 wells) injection well production well Infill production well Continued…
  16. 2014 ABGSCS SMALL AND MID CAP SEMINAR – Atlantic Petroleum – slide 16
    FAROES EXPLORATION Through its regional knowledge, AP is pursuing the East Faroe ridge, the next ridge across from the Corona/Westray ridge system in the UK Significant discoveries in the UK play include Rosebank/ Lochnagar,…
  17. 2014 ABGSCS SMALL AND MID CAP SEMINAR – Atlantic Petroleum – slide 17
    FAROES L006 - BRUGDAN JV partners & equities: Statoil (operator) 35% ExxonMobil 49% OMV 15% Atlantic Petroleum 1% Area: Faroe Shetland Basin Extremely large four way dip closure with prognosed Palaeocene Vaila Formation…
  18. 2014 ABGSCS SMALL AND MID CAP SEMINAR – Atlantic Petroleum – slide 18
    SNS CARBONIFEROUS PLAY FAIRWAY Atlantic Petroleum accessed considerable expertise and exposure to SNS, especially the emerging Carboniferous play fairway through its purchase of Volantis Several TCF of gas have been discovered…
  19. 2014 ABGSCS SMALL AND MID CAP SEMINAR – Atlantic Petroleum – slide 19
    UK P1724 - PEGASUS JV partners & equities: Centrica (operator) 55% Viking UK Gas (Third Energy) 35% Atlantic Petroleum (Volantis) 10% Area: Southern North Sea, close to Cavendish Field and export routes Intra-Carboniferous…
  20. 2014 ABGSCS SMALL AND MID CAP SEMINAR – Atlantic Petroleum – slide 20
    BUILDING A POSITION AROUND NEW INFRASTRUCTURE PL5228 Ivory (Blocks 6707/8,9,11 and 6707/10 (part)) Farm in 2013 See next slide PL 763 Karius (Blocks 6606/2,3) APA 2013 award Repsol 40% (Op), Rocksource 30%, Atlantic 30% Several…
  21. 2014 ABGSCS SMALL AND MID CAP SEMINAR – Atlantic Petroleum – slide 21
    PL528/528B NORWEGIAN SEA IVORY Blocks 6707/8,9,11 and 6707/10 (part) Centrica 40% (Op.), Statoil 35%, Rocksource *20% (10-25%) Atlantic *5% (5-15%) Gross recoverable resources up to 306 MMboe Gas prone area with possibility for oil…
  22. 2014 ABGSCS SMALL AND MID CAP SEMINAR – Atlantic Petroleum – slide 22
    EXPLORATION PORTFOLIO HIGH POTENTIAL PROJECTS 300 250 200 mm boe 150 100 net resources net risked resources 50 0 2014 2015 2016 2017 Significant portfolio inventory targeting material volumes COMPANY…
  23. 2014 ABGSCS SMALL AND MID CAP SEMINAR – Atlantic Petroleum – slide 23
    INCOME STATEMENT 2013 DKK MM 2013 2012 Revenue 417.4 596.7 Cost of sales -221.8 -274.9 Gross profit 195.7 321.9 Exploration expenses -119.6 -27.2 Pre-licence exploration cost -11.1 -8.0 General and administration cost -66.6…
  24. 2014 ABGSCS SMALL AND MID CAP SEMINAR – Atlantic Petroleum – slide 24
    BALANCE SHEET AND CASH FLOW 2013 Balance sheet DKK MM 2013 2012 Total assets 1,237.2 1.121.8 Cash and cash equivalents 184.6 242.5 Equity 597.3 537.1 Bank debt 103.1 78.0 Short term 44.6 19.5 Long term 58.5 58.5 Cash flow DKK MM 2013…
  25. 2014 ABGSCS SMALL AND MID CAP SEMINAR – Atlantic Petroleum – slide 25
    MARKET PRICE DKK/Share Cash + NPV (10)/Share Assumptions Exploration potential Exploration NPV(10) Data from Gaffney Cline & potential not Associates (GCA) CPR as at 31st valued December 2013 (prepared for AP, Perth not…
  26. 2014 ABGSCS SMALL AND MID CAP SEMINAR – Atlantic Petroleum – slide 26
    2014 ACTIVITY OUTLOOK & SUMMARY 2014 LICENCE 1Q 2Q 3Q 4Q UK P1724 Pegasus West (Committed) Exploration well Exploration PL528 Ivory (Committed) Exploration well Norway PL659 Langlitinden (Committed) Exploration well…
  27. 2014 ABGSCS SMALL AND MID CAP SEMINAR – Atlantic Petroleum – slide 27
    CONTACT Headquarters, Faroe Islands P/F Atlantic Petroleum Yviri vi Strond 4 P.O.Box 1228 Faroe Islands Tel +298 350100 Norway office, Bergen Atlantic Petroleum Norge AS Edvard Griegsvei 3c 5059 Bergen Norway Tel +47…

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