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Q1 2012 PRESENTATION – Dno International Asa

Dno International Asa · May 21, 2012 · 26 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. Q1 2012 PRESENTATION – Dno International Asa – slide 1
    Q1 2012 Presentation DNO International London, 21 May 2012
  2. Q1 2012 PRESENTATION – Dno International Asa – slide 2
    Bijan Mossavar-Rahmani Executive Chairman Opening remarks and strategy update
  3. Q1 2012 PRESENTATION – Dno International Asa – slide 3
    Building a leading MENA E&P Company 2014: Tawke to 200,000 bopd capacity by 2013: end 2014 Continue material Appraise and organic growth develop other discoveries 2012: Bolt-on MENA Complete RAK acquisitions merger 2011:…
  4. Q1 2012 PRESENTATION – Dno International Asa – slide 4
    1 2 A MENA focused player Kurdistan Ras Al Khaimah (UAE) Early entry Targeting field re- Rapid production growth development projects World-class reserves Exploration upside 17 licences in 5 countries 531 mmboe of 2P…
  5. Q1 2012 PRESENTATION – Dno International Asa – slide 5
    Early entry and strong track record in Kurdistan Early Entry in Competitive Low-Cost High Exploration Advantageous Kurdistan PSC Terms of Operations Success Position in Kurdistan One of the first E&P entrants Contractor takes 1638%…
  6. Q1 2012 PRESENTATION – Dno International Asa – slide 6
    Appraisal and development projects in other areas 1 2 3 Yemen Oman UAE Continue infill drilling as rigs become Complete three well drilling program on Initiate re-development of Saleh gas available Bukha/West Bukha fields…
  7. Q1 2012 PRESENTATION – Dno International Asa – slide 7
    Balanced MENA portfolio across E&P value chain Exploration Appraisal Development Production Tunisia Hammamet Offshore Fkirine RAK RAK Onshore Saleh / RAK B Tawke Kurdistan Deep Peskhabir Tawke Dohuk Benenan /…
  8. Q1 2012 PRESENTATION – Dno International Asa – slide 8
    Drilling programme for 2012 and 2013 2012 2013 Country License Well Kind 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 Tawke-16 Production Tawke-14 Production Tawke-18 Production Tawke-19 Production Tawke-17 Deep…
  9. Q1 2012 PRESENTATION – Dno International Asa – slide 9
    Significant reserves & production growth 2007-2012 2P Reserves (Company Working Interest) Production (Company Working Interest) 531 42.1 40.0 500 40 CAGR: 26% CAGR: 23% 400 372 30 mmboe . 300 kboe/d . 21.5…
  10. Q1 2012 PRESENTATION – Dno International Asa – slide 10
    Well positioned versus UK listed independents (1) 2P Reserves (WI) and Operatorship Status Production (WI) 1,000 80 900 800 700 60 600 kboepd mmboe . kboe/d 500 40 400 300 20 200 100 N/A N/A 0 (2)…
  11. Q1 2012 PRESENTATION – Dno International Asa – slide 11
    Helge Eide Managing Director Q1 2012 Operational and financial results
  12. Q1 2012 PRESENTATION – Dno International Asa – slide 12
    Q1 2012: Profitable growth and increased reserves Q1 2012 vs Q1 2011 Total production volumes somewhat higher than same quarter last year Production from Yemen on decline as expected +5% Reduced export volumes offset by increased…
  13. Q1 2012 PRESENTATION – Dno International Asa – slide 13
    Q1 2012: Significant improvement compared with previous year Key financial parameters (NOK million) 800 712 700 565 600 513 500 400 307 281 Q1 2011 300 Q1 2012 200 146 117 100 0 Operating revenue EBITDA Net profit…
  14. Q1 2012 PRESENTATION – Dno International Asa – slide 14
    Q1 2012: Production and gross profit contribution per country of operations Production (CWI boepd) Gross profit (NOK million) Oman 6,213 Oman 101.7 Yemen 4,169 Yemen Kurdistan 85.5 276.7 Kurdistan 31,734 Q1 2012…
  15. Q1 2012 PRESENTATION – Dno International Asa – slide 15
    Q1 2012: 42,116 boepd (Company Working Interest) 60,000 50,000 5,390 40,000 6,213 5,881 4,439 4,169 4,311 30,000 Oman Yemen Kurdistan 43,192 20,000 32,334 34,064 31,734 30,345 10,000 0 Q1 2011 Q2 2011 Q3…
  16. Q1 2012 PRESENTATION – Dno International Asa – slide 16
    Positive trends in production and lifting costs COMPANY WORKING INTEREST PRODUCTION BOEPD LIFTING COSTS USD/BBL 45000 15 40000 35000 42 116 39 966 30000 10 25000 13.0 20000 15000 5 8.1 10000 17 381 12 285 5.0 5.5…
  17. Q1 2012 PRESENTATION – Dno International Asa – slide 17
    Tawke: Tawke-13 Drilling ongoing to add production Tawke-14 Tawke-17 capacity and further delineate the field Tawke-19 The wells Tawke-14 and Tawke-16 Green: Old P50 model confirms the presence of Red: Reservoir volume…
  18. Q1 2012 PRESENTATION – Dno International Asa – slide 18
    Peshkabir prospect: Currently testing Second test First test Two test performed to date both produced water Further testing in progress Q1 2012 Presentation 18
  19. Q1 2012 PRESENTATION – Dno International Asa – slide 19
    West Bukha-5 well: Drilling ahead Drilling with the Noble jack up rig Roy Rhodes Spudded on 2 December 2011 Currently drilling horizontal section in the Thamama reservoir Q1 2012 Presentation 19
  20. Q1 2012 PRESENTATION – Dno International Asa – slide 20
    Bukha Alpha/West Bukha: Update on pipeline blockage North Bukha A Pipeline carries a mixture of oil, gas and small amounts of water from WB via BA to shore terminal Blockage occurred during routine pigging on 23 March and…
  21. Q1 2012 PRESENTATION – Dno International Asa – slide 21
    Steady growth in reserves PROVED PLUS PROBABLE RESERVES (2P/P50) MMBOE 600 COMPETENT PERSON REPORT (D&M) AS OF 31 MARCH 2012: 531 159 MMBOE INCREASE IN 2P/P50 RESERVES RESULTING FROM FURTHER 500 UPGRADE OF TAWKE RESERVES AND…
  22. Q1 2012 PRESENTATION – Dno International Asa – slide 22
    Adding reserves at low cost COMPANY WORKING INTEREST PROVED PLUS PROBABLE RESERVES MMBOE FINDING & DEVELOPMENT COSTS USD/BBL 600 15 500 531.0 400 10 372.0 300 10.6 9.5 200 5 194.2 100 149.4 1.2 1,2 0 0 Year…
  23. Q1 2012 PRESENTATION – Dno International Asa – slide 23
    Q1 2012: Well positioned for future growth Quarterly key financials Positive contribution from 1200 new MENA assets Revenues Netback Operating Profit Significant improved 1000 financial performance 800 Maintaining a solid…
  24. Q1 2012 PRESENTATION – Dno International Asa – slide 24
    Capital expenditure Yemen Kurdistan Oman UAE Other 250 Capex NOK 210 million in Q1 Of which Kurdistan represents 200 NOK 115 million and Oman NOK 91 million NOK million 150 100 50 0 Q4 2010 Q1 2011 Q2 2011 Q3…
  25. Q1 2012 PRESENTATION – Dno International Asa – slide 25
    Q1 2012: Robust cash position maintained Cash Net Interest-Bearing Debt Q1 2010 Q1 2011 Q1 2012 Q1 2010 Q1 2011 Q1 2012 1,800 200 1,602 6 1,600 0 1,400 -200 1,200 -400 NOK million NOK million 984 1,000 -600 -509 800…
  26. Q1 2012 PRESENTATION – Dno International Asa – slide 26
    IMPORTANT NOTICE The information contained in this results presentation has not been independently verified and no representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy,…

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