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SEPTEMBER 2012 INVESTOR PRESENTATION – Lundin Petroleum

Lundin Petroleum · Sep 27, 2012 · 38 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. SEPTEMBER 2012 INVESTOR PRESENTATION – Lundin Petroleum – slide 1
    Lundin Petroleum Presentation September 2012
  2. SEPTEMBER 2012 INVESTOR PRESENTATION – Lundin Petroleum – slide 2
    2 Company Overview and History Listed on Stockholm and Toronto Stock Exchanges Shares in issue: 317.9 million (of which 7.4 million held in treasury) Market Cap of USD 7 billion 2001 2004 2010 2012 Initial listing…
  3. SEPTEMBER 2012 INVESTOR PRESENTATION – Lundin Petroleum – slide 3
    3 Lundin Petroleum - Asset Overview Norway Core Areas: Europe, SE Asia - Reserves : 162.2 MMboe (1)(2) - 15 exploration/appraisal wells in 2012 Russia - Reserves (1): 16.0 MMboe Ireland - 1 exploration licence…
  4. SEPTEMBER 2012 INVESTOR PRESENTATION – Lundin Petroleum – slide 4
    4 Financial Performance 1200 1000 Net Profit Operating Cash Flow EBITDA Total Capex 800 600 MUSD 400 200 0 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 -200 Impairment of Russia -400 -600 2nd Quarter…
  5. SEPTEMBER 2012 INVESTOR PRESENTATION – Lundin Petroleum – slide 5
    5 Liquidity [MUSD] at 30 June 2012 Debt Outstanding 200 Cash Balances 91 Net Debt Position 109 New Reserve Based Lending Credit Facility 2,500(1) 7 year facility 25 banks in the syndicate 5th RBL facility since…
  6. SEPTEMBER 2012 INVESTOR PRESENTATION – Lundin Petroleum – slide 6
    6 End 2011 2P Reserves Gas, 16% Total 210.7 MMboe Oil, 84% PSC, 2% Russia, 16.0 France, 24.7 Tunisia, 0.3 Netherlands, 3.6 Tax/Royalty, 98% B yla Br Indonesia, 3.9 , 3. yn MMboe 2 hi ld ,1 4.3 (1 )…
  7. SEPTEMBER 2012 INVESTOR PRESENTATION – Lundin Petroleum – slide 7
    7 Reserves Growth 300 250 200 Russia 150 Norway(1) MMBoe Tunisia Netherlands 100 Indonesia France 50 0 03 04 05 06 07 08 09 10 11 12 .20 .20 .20 .20 .20…
  8. SEPTEMBER 2012 INVESTOR PRESENTATION – Lundin Petroleum – slide 8
    8 Contingent Resource Growth 900 800 700 600 500 MMBoe 400 Malaysia 300 Russia 200 Others 100 Norway (1) 0 1.1.2006 1.1.2007 1.1.2008 1.1.2009 1.1.2010 1.1.2011 1.1.2012 WF11406 p08 11.11 Statoil…
  9. SEPTEMBER 2012 INVESTOR PRESENTATION – Lundin Petroleum – slide 9
    9 Reserves and Resources Increase End 2011 Reserves & Contingent Resources(1) End 2010 9% es Reserves & Contingent Resources +22nt Resourc o nt inge C +21% Reserves 446 MMboe 1,062 MMboe WF11210 p7 09.12 (1)…
  10. SEPTEMBER 2012 INVESTOR PRESENTATION – Lundin Petroleum – slide 10
    10 2012 Production Guidance Russia, 8% Tunisia, 1% Six months production: 35,100 boepd Indonesia, 2% Strong production from Norway Netherlands, 6% Oudna field, offshore Tunisia, abandoned France, 8% Singa field, Indonesia,…
  11. SEPTEMBER 2012 INVESTOR PRESENTATION – Lundin Petroleum – slide 11
    11 Production to Double from Ongoing Development Projects Discoveries not included Johan in production forecast: Sverdrup Apollo, Skalle, Caterpillar Tarap, Cempulut, Bertam, Janglau +100% increase in production…
  12. SEPTEMBER 2012 INVESTOR PRESENTATION – Lundin Petroleum – slide 12
    12 Greater Alvheim Area Alvheim Field Gross Alvheim Estimated Ultimate Recovery 300 Cumulative Production 108 80 Lundin Petroleum 15% 250 End of Year Reserves 15 49 Marathon 65%, ConocoPhillips 20% 200 215 223 198 196…
  13. SEPTEMBER 2012 INVESTOR PRESENTATION – Lundin Petroleum – slide 13
    13 Gaupe - Production Commenced Lundin Petroleum 40% 0 1 KM 4 15/12-4 15/12-8 BG Norge 60% (operator) 15/12-15 REV 15/12-8 A 15/12-13 0015 016 Gaupe Field 15/12-17 A 2P gross reserves of 31.3 MMboe 15/12-12…
  14. SEPTEMBER 2012 INVESTOR PRESENTATION – Lundin Petroleum – slide 14
    14 Utsira High Area - Edvard Grieg Development 0 KM 20 Lundin Petroleum interest: 50% (operator) PL036c Wintershall 30%, RWE Dea 20% PL203 Alvheim Area PL150B PL150 PL505BS 008 009 PL340 Plan of Development approved…
  15. SEPTEMBER 2012 INVESTOR PRESENTATION – Lundin Petroleum – slide 15
    15 Edvard Grieg Development Project Production startup Oct 2015 Capital costs: 24 NOK billion Drilling 15 wells from jack-up rig 11 producers and 4 water injectors Contract award to Rowan companies Platform PdQ Jacket and…
  16. SEPTEMBER 2012 INVESTOR PRESENTATION – Lundin Petroleum – slide 16
    16 Brynhild - Development PL292B MARIA 0 KM 20 SEYMOUR PL292 Gaupe Lundin Petroleum Operator Lundin Petroleum Partner Lundin Petroleum interest: 70% (operator) SHELLEY PL292 PDO approved in November 2011 NORWAY…
  17. SEPTEMBER 2012 INVESTOR PRESENTATION – Lundin Petroleum – slide 17
    17 France - Growth Potential Est Champagne Reims Plivot La Motte Noire Vert-la-Gravelle Pays du Major operated portfolio Paris Fontaine-au-Bron Saulnois Villeperdue Val-des- Marais Nancy 2011 production: 3,000+ boepd…
  18. SEPTEMBER 2012 INVESTOR PRESENTATION – Lundin Petroleum – slide 18
    18 Exploration & Appraisal to End 2012 NORWAY - 8 firm wells* - 3D seismic - Ongoing development studies on Byla and Johan Sverdrup NETHERLANDS - 1 exploration wells FRANCE - 2 exploration wells MALAYSIA - 3…
  19. SEPTEMBER 2012 INVESTOR PRESENTATION – Lundin Petroleum – slide 19
    19 Exploration in Norway - Organic Growth Major position built through organic growth Appraisal Includes 10 new licences Wells Exploration Norway number of licences awarded in 2012 12 60 55 10 50 45 8 40 35 6…
  20. SEPTEMBER 2012 INVESTOR PRESENTATION – Lundin Petroleum – slide 20
    20 Why Invest in Norway 0 KM 60 Excellent exploration potential remains Wells drilled No independents until recently Lower drilling density than UK Close to existing infrastructure Stable and attractive fiscal regime 78%…
  21. SEPTEMBER 2012 INVESTOR PRESENTATION – Lundin Petroleum – slide 21
    21 Norway - A Successful Organic Growth Story 859 MMboe of Reserves and Contingent Resources* After tax finding cost of reserves is less than USD 1/bbl 2,761 NCS Contingent Resources 1) 1,000 800 600 MMboe 400…
  22. SEPTEMBER 2012 INVESTOR PRESENTATION – Lundin Petroleum – slide 22
    22 Utsira High - Johan Sverdrup Located in the southern Utsira High Snorre In the heart of the North Sea Norway Statfjord Close to existing infrastructure Gullfaks Sweden Mapped area Water depth: 115m Troll Reservoir…
  23. SEPTEMBER 2012 INVESTOR PRESENTATION – Lundin Petroleum – slide 23
    23 The Southern Utsira High - A Sleeping Giant A 4th generation exploration Depositional Model and a major oil province 45 years after the first award: PL001 in 1965 PL501 Major acreage position built by Lundin Petroleum…
  24. SEPTEMBER 2012 INVESTOR PRESENTATION – Lundin Petroleum – slide 24
    24 Southern Utsira High NW 16/1-14 16/1-8 16/2-5 16/2-6 SE 0.600 0.700 0.800 0.900 1.000 1.100 1.200 1.300 Johan Sverdrup Discovery 1.400 Ragnarrock Discovery 1.500 1.600 Edvard Grieg Field Chalk 1.700 Apollo…
  25. SEPTEMBER 2012 INVESTOR PRESENTATION – Lundin Petroleum – slide 25
    25 Johan Sverdrup Appraisal Programme Edvard Grieg Johan Sverdrup PL501 & PL265 will be developed PL338 16/2-9S Aldous Major North discovery PL265 16/2-14 appraisal as one field currently drilling 16/2-12 Geitungen…
  26. SEPTEMBER 2012 INVESTOR PRESENTATION – Lundin Petroleum – slide 26
    26 Johan Sverdrup is One Giant Field Johan Sverdrup PL265 PL265 licence operated by Statoil (40%) Partners: Petoro 30%, Det Norske 20%, Lundin Petroleum 10% Johan Sverdrup PL501 PL501 licence operated by Lundin…
  27. SEPTEMBER 2012 INVESTOR PRESENTATION – Lundin Petroleum – slide 27
    27 Norway Exploration Drilling Programme Barents Sea Four remaining exploration wells in 2012 Four remaining appraisal wells in 2012 Norway North Sea 6205 6204 6203 216 217 218 219 6201 6202 6203 6204 Lundin Petroleum…
  28. SEPTEMBER 2012 INVESTOR PRESENTATION – Lundin Petroleum – slide 28
    28 Utsira High Area Exploration 2012 Exploration Drilling PL359 (Lundin 40% operated) 0 4 KM 16 Luno II prospect Lundin Petroleum Operator 0024 0025 Lundin Petroleum Partner Gross unrisked prospective resources: 139…
  29. SEPTEMBER 2012 INVESTOR PRESENTATION – Lundin Petroleum – slide 29
    29 Mre Basin Area - A New Core Area Lundin operated block Lundin non-operated block 2012 Exploration Drilling PL519 Lundin 40% (Operator) PL555 Lundin 60% (Operator) PL519 (Lundin 40% operated) PL579 Lundin 50% (Operator)…
  30. SEPTEMBER 2012 INVESTOR PRESENTATION – Lundin Petroleum – slide 30
    NORWAY 7221 30 7220 Barents Sea Area 7219 6915 6917 Tromso PL532 0 5 KM 20 PL609 6916 Rauto 6914 2012 Exploration Drilling PL533 Salina Bieksu & Geres PL533 (Lundin 20%) PL609B Rein Salina prospect 7317 Gohta 7324 SWEDEN…
  31. SEPTEMBER 2012 INVESTOR PRESENTATION – Lundin Petroleum – slide 31
    31 PL533 Salina PL659 April 2011 PL609 Skrugard Discovery 200300 MMboe PL609B PL438 PL490 PL492 Januray 2012 Havis Discovery 200300 MMboe Salina Skalle PL533 Juksa/Snurrevad PL563 WF11421 p2 08.12
  32. SEPTEMBER 2012 INVESTOR PRESENTATION – Lundin Petroleum – slide 32
    32 South East Asia - 2012 Exploration Drilling THAILAND TOTAL Peninsular Malaysia CAMBODIA Exploration Licences: 11 VIETNAM Production Licences: 1 SB303 Cakalang Sabah Area Baronang SB307/308 PM307 SABAH BRUNEI…
  33. SEPTEMBER 2012 INVESTOR PRESENTATION – Lundin Petroleum – slide 33
    33 Malaysia - Sabah Area Tarap/Cempulut discoveries 0 15 KM 60 in 2011 + Titik-Terang discovery. Gross contingent resources 250 bcf. SB303 Potential cluster development. South China Cempulut Discovery Sea Tarap Discovery…
  34. SEPTEMBER 2012 INVESTOR PRESENTATION – Lundin Petroleum – slide 34
    34 Peninsular Malaysia - Three Exploration Wells in 2012 PM308A (Lundin 35% operated) Lundin Petroleum Licences Operated Janglau oil discovery Non-operated Hydrocarbon fields/discoveries PM307 (Lundin 75% operated) Oil…
  35. SEPTEMBER 2012 INVESTOR PRESENTATION – Lundin Petroleum – slide 35
    35 2012 Exploration and Appraisal Drilling Schedule 2012 (1) (2) Country Licence - Prospect Operator LUPE% NUPR CoS % NRPR Q1 Q2 Q3 Q4 1 Norway PL501 - Johan Sverdrup 16/2-11 App. Lundin 40.00 Discovery 2 Norway PL265 -…
  36. SEPTEMBER 2012 INVESTOR PRESENTATION – Lundin Petroleum – slide 36
    36 Lundin Petroleums Shareholders Number of shares in issue: 317.9 million Owned by Lundin Petroleum: approx. 7.4 million shares Average traded volume per day: approx. 2 million Part of OMX30, NASDAQ OMX Stockholm Secondary…
  37. SEPTEMBER 2012 INVESTOR PRESENTATION – Lundin Petroleum – slide 37
    37 Production to Double from Ongoing Development Projects 10-15 exploration wells per year Johan Sverdrup Discoveries not included in production forecast: Apollo, Skalle, Caterpillar +100% Tarap, Cempulut, Bertam,…
  38. SEPTEMBER 2012 INVESTOR PRESENTATION – Lundin Petroleum – slide 38
    39 WWW.LUNDIN-PETROLEUM.COM

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