DNO International Q1 2013 results presentation Oslo, 7 May 2013
Q1 2013 Highlights Operational cash flow of NOK 547 million funding investments of NOK 368 million Q1 company working interest (CWI) production 29,061 boepd (55,639 boepd gross) CWI 2P reserves 520.3 MMboe at 31/12/12 (+40%…
Significant increase in 2P (CWI) reserves at low cost 2P reserves (CWI MMboe) 600 520 Annual Statement of 500 Reserves released in April 2013 CAGR: 52% 400 372 2P reserves increased by MMboe 371 MMboe in past four…
Building production capacity Gross operated capacity (current projects) Tawke expansion project to 250,000 deliver 200,000 bopd Gross capacity at end period Gross realized production capacity by end 2014 200,000 150,000 New…
Drilling and appraisal outlook Q2 13 Q3 13 Q4 13 Kurdistan Tawke-17 well testing deep Tawke-21 production well Tawke-22 production well spud exploration potential spud Summail-3 production well Tawke-20 well completion Summail-1…
Operations update DNO International Q1 2013 results presentation Oslo, 7 May 2013
2013 technical and operational overview Tunisia Ras Al Khaimah 6 1 Kurdistan region of Iraq 2 Fkirine drilling decision Saleh redevelopment Tawke production capacity expansion Hammamet prospect selection Phase 1 Summail devlopment…
Tawke field CPF and refinery Ceyhan terminal (Turkey) Current 100,000 bopd capacity (gross) Planned increase to to 200,000 bopd by end 2014 Pipeline tie-in point Peshkabir-1 oil discovery Loading station for trucks…
Tawke-17 (Deep) exploration well Seismic line through Well objectives Tawke-17 well location Test resource potential of deeper Triassic and Jurassic intervals Pre-drill gross unrisked resource estimate 200 - 300 MMbbls Good oil…
2013 production wells at Tawke New production wells planned in 2013 Tawke-20 Tawke-22 Tawke-23 Tawke-21 Existing well 2013 current / planned well (Tawke-20+) Existing well 2013 current / planned well (Tawke-20+) Four…
Tawke-20 production well Horizontal well being drilled high in the reservoir to penetrate numerous vertical fracture and fault systems Objective to maximize oil rate and minimize pressure draw down The well has successfully…
Peshkabir oil discovery 200 km2 3D seismic survey completed New data is significantly improving imaging of northern and southern flanks of the structure Early interpretations indicate significant bulk volume upside potential…
Dohuk license Cretaceous gas development to supply local power/thermal generation plant Gas sales and pricing agreements under negotiation Studies ongoing to define future development potential of heavy oil resource Map of top…
Erbil license Bastora-2 well (currently drilling) Objective to test Qamchuqa reservoir 90 meters higher on structural prognosis Bastora-2A sidetrack Drill as a horizontal producer in Bekhme reservoir Applying learnings from…
Erbil license Interference test plan and Benenan-3 well concept Originally planned as horizontal producer in Upper Najmeh reservoir Encountered movable oil in Bekhme formation and proved an additional 210 m oil column in lower…
Block 8 offshore Oman West Bukha -4 and -5 contributed strong Q1 production performance 26,748 boepd gross (+115% increase on Q1 2012 rate of 12,425 boepd) Well interventions ongoing at West Bukha-3 and -5 to add production…
Ras Al Khaimah Saleh field A deeper un-depleted Thamama reservoir is targeted for the field re-development Drilling of Saleh-8 well commenced 18 April - initial step in re-development of the field 130 days to drill, stimulate, test and…
Yemen activities Block 32 Plan to drill Godah-13 infill production well Salsala-1 exploration well Block 43 Nabrajah-9S3 being drilled to test Shuqra and Basement formations 3D seismic on Raydah lead Block 47 Yaalen-4 and…
Yemen exploration Gabdain-3 well (Block 72) high impact basement prospect Gross unrisked prospective resources of 40 MMbbls Expect to spud mid- year Operated by Total Q1 2013 results presentation Slide 19
SL-18 license onshore Somaliland SRTM Satellite Radar Topographic Mission - (90m resolution) Palaeo-geographic reconstruction suggests analogous geology Yemen An estimated 6 billion bbls has been discovered to date in Yemen Only…
12 month look ahead of firm and contingent wells 6 May Country Rig 2013 2014 Kurdistan Rig-9 Bastora-2 Benenan-4 Bastora-2H Bastora-3 Rig-10 Tawke-20 Tawke-23 Summail-2 Summail-3 Tawke-24 Rig-32 Tawke-17 drilling and testing…
Financial summary DNO International Q1 2013 results presentation Oslo, 7 May 2013
Q1 2013 financial results key figures Quarterly key financials 800 Key figures in line with April operations update 700 Revenues Netback Operating Profit Lower Q1 sales in the Kurdistan 600 region of Iraq influenced quarterly…
Quarterly CWI production (boepd) 50,000 45,000 40,000 10,983 3,745 Oman 6,213 35,000 CWI boepd 30,000 Kurdistan 2,003 25,000 13,374 33,851 20,000 31,734 30,914 Yemen 15,000 17,279 11,332 10,000 5,000 4,169…
Q1 2013 revenue and gross profit distribution Revenues NOK million Gross Profit NOK million Kurdistan Oman 228 219 Oman 120 Kurdistan 153 Yemen 135 Yemen 43 Q1 2013 results presentation Slide 25
Strong operational cash flow and capex as planned Capex and capitalized exploration Investment program in line with plan 400 Capex and capitalized exploration of 350 Other Oman NOK 368 million in Q1 Kurdistan Yemen Funded by…
Robust capital structure Cash position Net debt/cash Equity ratio NOK million NOK million Percent 1,800 1,755 500 60 % 1,645 393 55 % 56 % 1,508 400 1,600 50 % 1,385 300 1,400 43 % 183 200 39 % 1,200 40 % 100 1,000 2 0…
Q1 2013 income statement Full year Q1 Highlights NOK million Q1 2013 Q1 2012 2012 Sales 581.4 711.5 2,841.8 Lower Q1 sales in the Kurdistan region of Iraq Cost of goods sold -281.0 -260.3 -1,212.7 influenced quarterly revenues…
Q1 2013 cash flow statement Full year Q1 Highlights NOK million Q1 2013 Q1 2012 2012 Increased Profit/(loss) before income tax 247.0 390.8 1,322.5 investments funded Non cash items and changes in working 421.3 -1.9 563.1 by…
Q&A DNO International Q1 2013 results presentation Oslo, 7 May 2013
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