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APRIL 2009 CORPORATE PRESENTATION – Dno International Asa

Dno International Asa · Apr 20, 2015 · 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. APRIL 2009 CORPORATE PRESENTATION – Dno International Asa – slide 1
    DNO INTERNATIONAL ASA CORPORATE PRESENTATION MERRILL LYNCH E&P CONFERENCE LONDON, 20-22 APRIL 2009
  2. APRIL 2009 CORPORATE PRESENTATION – Dno International Asa – slide 2
    GROWTH IN CYCLES THIRD GROWTH CYCLE RESERVES 1st 2nd 3rd Building production potential from a strong reserve base 160 Reduced nancial exposure to the offshore 120 MMBOE environment 80 Focus on low cost areas 40 Avoided long…
  3. APRIL 2009 CORPORATE PRESENTATION – Dno International Asa – slide 3
    KEY STRATEGIES VALUE CREATION KEY ATTRIBUTES EXPLORATION DRIVEN STRATEGY In low cost high potential areas ENTREPRENEURIAL COMPANY Quick decisions/risk taker OPERATING COMPANY Controlling the asset base FOCUS ON LOW…
  4. APRIL 2009 CORPORATE PRESENTATION – Dno International Asa – slide 4
    HIGHLY RANKED IN THE MEA REGION* 3-YEAR F&D COST (2005-07) 3-YEAR RESERVE REPLACEMENT (2005-07) DNO DNO ASA Marathon Toreador BASF AG Pioneer Petro-Canada Marathon Apache Corp. ConocoPhillips Pioneer Hess Total TransGlobe OMV…
  5. APRIL 2009 CORPORATE PRESENTATION – Dno International Asa – slide 5
    Det norske oljeselskap ASA BUSINESS OVERVIEW PL1067 Tawke Benenan (Hawler) Dohuk Sharyoof Tasour Nabrajah Bayoot and Raoq Block 32, 43, 47, 52, 53 and 72 Block P Inhaminga MERRILL LYNCH E&P CONFERENCE 5
  6. APRIL 2009 CORPORATE PRESENTATION – Dno International Asa – slide 6
    2008 KEY EVENTS PRODUCTION Production in line with guidance Successful inll and appraisal drilling DEVELOPMENT Completed Phase 1 on Tawke in Kurdistan Commenced construction work for tie-in of Tawke pipeline to Iraqs northern…
  7. APRIL 2009 CORPORATE PRESENTATION – Dno International Asa – slide 7
    Q1 2009 KEY EVENTS PRODUCTION AND RESERVES Production in January-February in line with expectations Annual statement of reserves shows increase to 163 mboe (P50) DEVELOPMENT Completed tie-in of Tawke pipeline to Iraqs northern…
  8. APRIL 2009 CORPORATE PRESENTATION – Dno International Asa – slide 8
    OPERATIONAL REVIEW MERRILL LYNCH E&P CONFERENCE 8
  9. APRIL 2009 CORPORATE PRESENTATION – Dno International Asa – slide 9
    PRODUCTION PROFILE AVERAGE PRODUCTION (WI) 25000 Kurdistan test production Yemen 20000 15000 bopd 10000 5000 0 Q4 2007 Q1 2008 Q2 2008 Q3 2008 Q4 2008 MERRILL LYNCH E&P CONFERENCE 9
  10. APRIL 2009 CORPORATE PRESENTATION – Dno International Asa – slide 10
    KURDISTAN UPDATE MERRILL LYNCH E&P CONFERENCE 10
  11. APRIL 2009 CORPORATE PRESENTATION – Dno International Asa – slide 11
    KURDISTAN SUMMARY KEY EVENTS 2008 Tawke Phase 1 completed Initiated work to tie-in Tawke to Northern pipeline system One discovery on Erbil PSC (Benenan) Two seismic acquisitions completed on Dohuk and Erbil PSCs GOING FORWARD…
  12. APRIL 2009 CORPORATE PRESENTATION – Dno International Asa – slide 12
    TIE-IN PROJECT WITH NOC/KRG COMPLETED 40 TIE-IN MERRILL LYNCH E&P CONFERENCE 12
  13. APRIL 2009 CORPORATE PRESENTATION – Dno International Asa – slide 13
    TIE-IN PROJECT WITH NOC/KRG COMPLETED METERING STATION AT THE TIE-IN AREA MERRILL MERRILLLYNCH LYNCHE&P E&P CONFERENCE CONFERENCE 13
  14. APRIL 2009 CORPORATE PRESENTATION – Dno International Asa – slide 14
    TAWKE A FAST TRACK AND ROBUST PROJECT TAWKE KEY FACTS (Gross gures to date) P50 Reserves (MBOE) 230 Finding & Development costs Phase I (USD Million) - Facilities (CPF, pipeline, metering station, tie-in, topping plant) 90 -…
  15. APRIL 2009 CORPORATE PRESENTATION – Dno International Asa – slide 15
    BENENAN (HAWLER) DISCOVERY JURASSIC DISCOVERY WELL 1 IN 2008 Lower reservoir test; 9,000 bopd and 11 million scf/d gas Upper reservoir test; 1,500-2,000 bopd, heavier oil APPRAISAL WELL 2 Indications of hydrocarbons Well temporarily…
  16. APRIL 2009 CORPORATE PRESENTATION – Dno International Asa – slide 16
    YEMEN UPDATE MERRILL LYNCH E&P CONFERENCE 16
  17. APRIL 2009 CORPORATE PRESENTATION – Dno International Asa – slide 17
    YEMEN SUMMARY KEY EVENTS 2008 Successful inll drilling Production of 9,300 bopd slightly above plan Replaced produced reserves in 2008 Initiated Bayoot permanent development Drilled ten exploration wells and completed two seismic…
  18. APRIL 2009 CORPORATE PRESENTATION – Dno International Asa – slide 18
    BASEMENT DISCOVERIES BAYOOT FIELD Positive results of the appraisal wells 4, 5 and 6 in 2008 Development of permanent remote processing facilities to the Sharyoof eld ongoing Sharyoof RAOQ DISCOVERY Tasour Exploration well Raoq 1…
  19. APRIL 2009 CORPORATE PRESENTATION – Dno International Asa – slide 19
    MOZAMBIQUE KEY EVENTS 2008 Exploration well Sangussi 1 dry Field work and aero electromagnetic survey Entered 4th exploration period GOING FORWARD Assessment of prospective potential and denition of drilling candidates Target 1…
  20. APRIL 2009 CORPORATE PRESENTATION – Dno International Asa – slide 20
    NEW VENTURES FROM CURRENT CORE AREAS Develop current positions in proven basins, known and new plays Follow potential extensions of proven plays into adjacent basins POTENTIAL OUTSIDE KURDISTAN AND YEMEN Pursue entries into frontier…
  21. APRIL 2009 CORPORATE PRESENTATION – Dno International Asa – slide 21
    FINANCIAL RESULTS MERRILL LYNCH E&P CONFERENCE 21
  22. APRIL 2009 CORPORATE PRESENTATION – Dno International Asa – slide 22
    ANNUAL FINANCIALS SALES EBITDA* AND EBITDAX* NETBACK* 1600 1200 800 1400 700 1000 1200 600 800 1000 500 NOK million NOK million NOK million 800 600 400 600 300 400 400 200 200 200 100 0 0 0 2006 2007…
  23. APRIL 2009 CORPORATE PRESENTATION – Dno International Asa – slide 23
    CASH FLOW COVERAGE SOURCES AND USES OF CASH CASH FLOW COVERAGE New Interest-Bearing Debt 90 % 2000 Netback before exploration and impairment CAPEX 77 % 80 % 1500 Exploration expensed 70 % 64 % 1000 60 % 500 NOK Millon per…
  24. APRIL 2009 CORPORATE PRESENTATION – Dno International Asa – slide 24
    CAPITAL STRUCTURE ASSETS EQUITY AND LIABILITY 6000 Cash: 6000 NOK 176 million 5000 5000 Financial assets: 4000 NOK 735 million 4000 Net debt to cap: 3000 3000 48 per cent NOK Million NOK Million 2000 2000 1000…
  25. APRIL 2009 CORPORATE PRESENTATION – Dno International Asa – slide 25
    CONVERSION OF NOK DEBT TO USD BOND MATURITY REDUCED FX EXPOSURE 2000 NOK USD NOK 920 mill. bond loans converted from 1800 NOK to USD in Q4 2008 463 75 per cent of bond loans now in USD 1600 FX exposure reduced 1400 LONG-TERM…
  26. APRIL 2009 CORPORATE PRESENTATION – Dno International Asa – slide 26
    2009 CAPEX GUIDING TOTAL INVESTMENTS PER ACTIVITY PLAN FOR 2009 1800 Exploration Development Committed Investments Development CAPEX NOK 135 million 1600 Exploration NOK 100 million 1400 Contingent Additional Investments…
  27. APRIL 2009 CORPORATE PRESENTATION – Dno International Asa – slide 27
    WELL POSITIONED IN CURRENT ENVIRONMENT DNOs strategy during the last years make the company well prepared for the downturn in the market Activities has been focused on low cost, high potential areas avoiding long term capital…

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