North Energy ASA Nordic Energy Summit, 6th April 2011
Important information This presentation and its appendices (together the Presentation) have been prepared and delivered by North Energy ASA (North Energy or the Company). The Presentation is prepared for information purposes only, and…
Introduction to North Energy Oil and gas company headquartered in Portfolio development, of licenses Alta in Northern Norway 21 Listed on Oslo Axess (ticker: NORTH) 14 Market cap of USD 110 million 8 21 licenses offshore Norway,…
Solid financial platform NOK 397 million in net cash YE 2010 Net cash break-down, NOK million Cash balance: NOK 91 million 397 Tax reimbursement: NOK 348 million 41 No interest bearing debt 348 91 NOK 760 million exploration…
Management delivering on strategy Build up and execution of exploration program according to plan Two wells completed one discovery expected to be commercial Six firm wildcat exploration wells next 15 months Two contingent sidetrack…
Recognized by the authorities solid awards in recent licensing rounds Top 10 in recent licensing rounds and runner-up in the north Statoil 26 Statoil 13 Det norske 20 North Energy 11 Lundin 19 Noreco 9 Wintershall 16 Wintershall…
Strong platform for growth Commercially based exploration High PoS* prospects Close to infrastructure low capex yields high asset values Strong Northern Norwegian identity Working closely with fisheries to solve potential…
Attractive portfolio In total, 21 licenses currently in Licenses in the Barents, Norwegian and North Sea the portfolio 7 licenses are located in the Norwegian Sea Of which two are operated 8 licenses in the Barents Sea A major…
PL 433 Fogelberg maturing a promising discovery Gas/condensate discovery close to infrastructure Discovered in the spring of 2010 Export options via Gassled, Haltenpipe or new line LLN via Heidrun Volume estimates indicate…
High-impact exploration program coming up Drilling program set to test 258 mmboe Drilling program, firm wells net unrisked resources over the next 15 months mmboe 90 6 firm wells in place of which 3 are in 2011 80 Two…
PL 535 Norvarg first high-impact well in 2011 PL 535 in the Barents Sea Awarded 20th round (2009) Main prospect Norvarg Operator Total (40%) Hydrocarbons Gas Partners North Energy (20%) Expected drilling Q2 2011 Det norske (20%)…
PL 530 Heilo second high-impact well in 2011 A B PL 530 in the Barents Sea 0.500 Seabed Awarded 20th round (2009) Main prospect Heilo Heilo ,1270m Operator GDF Suez (40%) Hydrocarbons Oil w/gas cap 1.000 Partners North…
PL 518 Zapffe third high-impact well in 2011 PL 518 and PL 518B in the Barents Sea Awarded APA 2008 Main prospect Zapffe Operator DONG (40%) Hydrocarbons Oil Partners North Energy (30%) Expected drilling Q4 2011 Front Exploration…
APA 2011 offers new acreage close to LoVe Previously unavailable parts of Nordland III and V have been included in APA 2011 One of North Energys core area is just south of Nordland VI Areas in Nordland VI, where impact studies…
New acreage available in the Barents Sea The boundary agreement was ratified in Q1 2011 Impact assessment of the area will be initiated shortly New acreage closer to shore available The zone were no petroleum activity is New…
Summary Management delivering on strategy High-impact drilling program coming up Attractive portfolio in place and continuously growing Strong position in Northern Norway Solid balance sheet North Energy ASA, Markedsgata…
Thank you for your attention North Energy ASA, Markedsgata 3, Alta, Norway. 17 Phone: (+47) 78 60 79 50 Fax: (+47) 78 60 83 50 E-Mail: postnorthenergy.no www.northenergy.no
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