Q3 2013 and year-to-date highlights Net profit of NOK 282 million on operating revenue of NOK 810 million Record quarterly company working interest (CWI) production of 52,780 barrels of oil equivalent per day (boepd) up 36 percent on…
Delivering growth at Tawke Gross 2P reserves since discovery 1,000 900 Gross URR Gross Remaining 800 On track to become first billion barrel 700 mllion barrels 600 field in Kurdistan with routes to market 500 New drilling…
Horizontal drilling at Tawke Tawke-20 and Tawke-23 results have moved the needle at the field Re-working accelerated development plan incorporating horizontal wells Drive down capital costs and drive up production and reserves…
Tawke three fields in one N S Development to date has primarily focused on the Cretaceous reservoir Tertiary Tawke-17 discovery opens deeper Jurassic play Cretaceous Separate approach to development of the Tertiary Jurassic…
Progress at the Dohuk and Erbil licenses Dohuk license Summail GSPA commercializes field at 3 to 4 per Mcf on take or pay basis Helps displace diesel at Dohuk Power Plant (win-win situation) Next focus on heavy oil potential Erbil…
Progress across rest of the portfolio Stable production in Oman and Yemen provides diversified revenue stream Significantly grown portfolio in 2013 through asset acquisitions Scaling up exploration and appraisal activities Salsala-1…
Current drilling program 2013 2014 Q1 Q2 Q3 Q4 Q1 Rig-9 Bastora- Bastora-2 Benenan-4 Peshkabir-1S/T 2S/T Summail- Rig-10 Tawke-20 Tawke-23 Tawke-22 Summail-3 2 Kurdistan Rig-32 Tawke-17 Tawke-21 Tawke-26 Sindy Summail…
Building a leading MENA E&P Company Investors recognizing and rewarding DNO for solid performance Continue to derisk and highgrade portfolio Share price up 100 percent year-to-date Best performing European E&P company in 2013 and…
Our competitive advantage No 2 in booked liquid reserves No 1 globally in finding and among European peers development costs 2P CWI reserves 25 3 year rolling average F&D costs 700 600 20 500 15 400 per boe million…
Quarterly CWI production (boepd) 60,000 Kurdistan Oman Yemen 50,000 40,000 CWI boepd 30,914 38,045 30,000 24,682 11,332 33,851 20,000 10,948 10,000 13,374 10,983 10,064 3,745 3,948 4,501 4,355 3,975 3,786…
Q3 2013 revenue and gross profit distribution Revenues NOK million Gross Profit NOK million Oman: 202 Oman: 124 Kurdistan: 462 Kurdistan: 324 Yemen: 147 Yemen: 55 Q3 2013 interim presentation Slide 14
Increasing investments in line with plan Capex and capitalized Capex and capitalized exploration exploration NOK 437 million in 500 Q3 450 Other UAE Oman Budgeted 2013 projects on track 400 Kurdistan for NOK 1.75 billion 350…
Robust capital structure Strong financial position Capacity to execute work program and capitalize on new opportunities Cash position Net debt/cash Equity ratio 1,755 1,800 500 1,648 60% 393 60% 1,577 400 58% 1,600 55% 56%…
Q3 2013 income statement NOK million Q3 2013 Q3 2012 YTD 2013 YTD 2012 Highlights Sales 810.2 540.6 2,155.3 1,407.5 Increased production Cost of goods sold -317.8 -346.5 -931.0 -839.1 in Kurdistan and Oman drive up Q3 Expensed…
Q3 2013 cash flow statement NOK million Q3 2013 Q3 2012 YTD 2013 YTD 2012 Highlights Profit before income tax 366.6 98.9 964.1 326.4 Disciplined capital Non cash items & changes in working capital 136.1 -123.7 609.6 492.7 allocation…
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