COMPETING IN A GLOBAL ENVIRONMENT EXPLORATION DRIVEN STRATEGY With suitable risk mitigation VALUE CREATION KEY ATTRIBUTES ENTREPRENEURIAL COMPANY Quick decisions/Risk taker OPERATING COMPANY Controlling the asset base…
Market capitalization (USD billion) 0 2 4 6 8 10 Tullow Oil Cairn Lundin Oil Soco International Maurel et Prom MARKET CAPITALIZATION AND RESERVES Premier Domestic Reserves Dana Venture…
EXPLORATION DRIVEN COMPANY PROMOTE EXPLORATION PRODUCTION Market Value Acquire Explore Appraise Development commitment Develop and produce E&P Cycle CAPITAL MARKETS DAY 2008 4
ADDING VALUE THROUGH THE DRILL BIT CLASS 1-5 RESERVES* DNO ANNUAL AVERAGE FD&A COST 150 10 120 8 90 6 USD/boe MBOE 60 4 30 2 0 0 2005 2006 2007 2004 2005 2006 2007 *Continued operations, excluding…
CONTROLLING OPERATIONS INTERNATIONALLY POSITIONING OF AN INTERNATIONAL E&P COMPANY DNO Operator Cairn Venture Soco Muriel&Prom PA Resources Lundin Premier Dana Noreco Tullow Partner Revus AIM Companies…
CONTROLLING THE PACE OF DEVELOPMENT PROJECT TIMING Tullow Uganda Nexen Buzzard Cairn India Tullow Ghana DNO Yemen DNO Iraq 2 4 6 8 10 Number of Years CAPITAL MARKETS DAY 2008 7
COST EFFICIENCY DRIVES RECYCLE RATIOS RECYCLE RATIO NETBACK PER BARREL 5 25 4 20 3 15 Times USD 2 10 1 5 0 0 2005 2006 2007 2005 2006 2007 CAPITAL MARKETS DAY 2008 8
TOTAL SHAREHOLDER RETURN COMPOUND ANNUAL GROWTH RATE (2003-2007) 109,0 87,2 65,4 Percent 43,6 21,8 0 DNO Lundin Oil Tullow Oil Cairn Venture Dana Soco Maurel et Prom Premier Melrose Resources CAPITAL…