DNO International Q4 2012 Presentation 12 February 2013
2012 Highlights Net profit of more than NOK 1 billion on operating revenues of NOK 2.8 billion all time DNO high Company Working Interest production steady at 38,354 boepd, while gross operated production capacity climbed to 140,000…
Net profit 1,200 1,000 Increased profitability in 800 2011 reflects higher production, Tawke 600 export receipts and sale NOK million 400 of financial assets 200 Improvements in 2012 0 driven by strong -200…
Building production capacity 160,000 Gross annual production Gross yearend capacity Active investment 140,000 program across 120,000 portfolio 100,000 Tawke production capacity now 100,000 boepd 80,000 bopd and growing…
Exploration & development spending 1,400 Stepped up spending 1,200 in Kurdistan, funded by export payments 1,000 and local sales NOK million 800 Drilled two wells in 600 Oman in 2012, more than doubling offshore 400 oil…
Significant increase in 2P (CWI) reserves at low cost 600 2P reserves increased 500 381 million boe in past three years 400 Total finding & development Million boe costs of USD 1.5 per boe 300 on three year rolling…
2012 Quarterly CWI production (boepd) 50,000 45,000 40,000 10,983 3,745 6,213 35,000 Oman Kurdistan boepd 30,000 2,003 Yemen 25,000 33,851 20,000 31,734 30,914 15,000 17,279 10,000 5,000 4,169 3,952 3,948…
Diversified production drives Q4 results Production (CWI) - boepd Gross Profit NOK million Oman 10 983 Oman 287 Kurdistan Yemen 30 914 4 501 Yemen 52 Kurdistan 737 Q4 2012 Presentation 8
Growing DNO Development Exploration 2000 2013 Program 1800 1600 Development: NOK 1,400 million 1400 Exploration: NOK 350 million NOK million 1200 1000 800 Expenditures expected to be funded from operating cash flow…
Delivering on our strategy 2014: Doubling of operated 2013: production capacity Continue organic Establish presence in 2012: growth through new MENA countries the drill bit Completed RAK Further 2011: merger…
Financial Summary DNO International Q4 2012 Presentation 12 February 2013
Record revenues and profits Q4 2012 Q3 2012 Q4 2011 Full year Full year Q4 Highlights 2012 2011 Sales 1,434.3 540.6 904.6 2,841.8 2,070.2 USD 116 million -346.5 Cost of goods sold -373.5 -539.0 -1,212.7 -1,165.7 in export revenues…
Growth funded by cash flow Growth in revenue and cash flow Increased investments Investments funded from cash flow Revenue Netback Capex & exploration Netback/Investments 3,200 1,400 3.0 2,842 1,225 2,800 2.5 1,200 2.5 2,400…
Q&A DNO International Q4 2012 Presentation 12 February 2013
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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