Q4 2013 Investor Presentation Rig-less exploration and monitoring Steinar Bakke CEO Oslo, 14 - Feb -2014 Gunnar Dolven - CFO Stavanger, 13 - Feb -2014 London, 27 Feb - 2014 1
Disclaimer This presentation includes forward-looking statements which are subject to risks and uncertainties that could cause actual results and events to differ. Even though the Company believes that the expectations reflected…
The Mission A large portion of the undiscovered oil and gas resources are expected to be located in the Arctic. The cost of exploring these areas has increased to a level where the oil and gas companies now are turning down proposals…
Agenda I. Highlights from Q4 II. Technical update III. Development Program IV. Financials V. Outlook 4
Highlights from Q4 Badger Demonstrator Steering Committee SCM held on October 29th 2013 Approved MS3 Several members of the SCM with technical experts from their respective companies visited BXPL for a technical update on October…
Agenda I. Highlights from Q4 II. Technical update III. Development Program IV. Financials V. Outlook 6
Technical update: BE 125 Demonstrator Summary BE 125 Demonstrator: Beta version delivered for Milestone 3 Testing of Beta version for Milestone 4 Drilling Module Transport System Compaction Module Hydraulic Power Unit PGS LHU…
Technical update: Plans forward BE 125 Demonstrator Testing and qualification Milestone 5 Horizontal function test of the complete tool to be executed at BXPLs premises Expected to be completed in August 2014 Milestone 6…
Technical update: R&D Activity R&D Activities Continue work on ultrasonic technology Reduce friction between tool and formation Improve compaction Improve cutting transport Optimize Drill Bit design Tool locomotion and friction…
Agenda I. Highlights from Q4 II. Technical update III. Development Program IV. Financials V. Outlook 10
Overview: Development Program Outline 125 Demonstrator FT Full scale tests - 100 meter - 3 sections FP Field Pilots (separate - 125 C program) - Full scale tests + R&D activities - Drill bits - Ultrasonic - Transport Development…
Agenda I. Highlights from Q4 II. Technical update III. Development Program IV. Financials V. Outlook 12
BXPL Group: Consolidated Income Statement 13
BXPL Group: Consolidated Statement of Financial Position I 14
BXPL Group: Consolidated Statement of Financial Position II 15
BXPL Group: Consolidated Cash Flow 16
Company Structure and Financials: Spending/Investment Capitalised developments costs Badger Explorer has funded its operations through a) equity issues, b) oil company partner funding and c) various government grants 75 MNOK was…
20 Largest Shareholders as of 31 December 2013 785 shareholders as of 31-Dec-2013 63.9 % Norwegian shareholders 20 largest shareholders held 71.2% Primary insiders held 7.4% 20
Agenda I. Highlights from Q4 II. Technical update III. Development Program IV. Financials V. Outlook 21
Outlook Completion of Badger Demonstrator Program by end of 2014 Badger Beta versions, comprehensive test phases to conclude with MS5 and MS6 Strengthen sponsor/partner relations Increased technical co-operation with our…
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