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 is…
Introduction to North Energy ASA Oil and gas company headquartered in Alta in Northern Norway 14 licenses offshore Norway Listed on Oslo Axess (ticker: NORTH) Market cap of USD 90 million Five firm wells in the period 2011-2012…
Focused explorer with a strong position in Northern Norway mmboe Commercially focused exploration Accumulated net risked resource estimate 90 strategy targeting prospects- Net unrisked pre-drill resource estimate 80 With high…
PL 433 Fogelberg a promising discovery Gas/condensate discovery close to new infrastructure Within 18 km from sgard B Discovered in the spring of 2010 Volume estimates indicate commercial discovery Expected recoverable volume of…
PL 341 Stirby Wildcat exploration well completed in December 2010 Well drilled above reservoir pinch-out of Upper Stirby. No data collected Gas Sand Strong indications of hydrocarbons in Stirby Deep Low porosity sand (8 10%) Low…
Drilling programme Net mean Rig Timing Prospect Licence Interest Operator Location risked secured 2011 2012 Norvarg PL 535 20% Total Barents Sea 13 mmboe West Phoenix Heilo PL 530 20% GdF Suez Barents Sea 24 mmboe Aker Barents…
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%) Prob.…
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 S (TWT) Partners…
PL 518 Ypsilon - well late in 2011 PL 518 and PL 518B in the Barents Sea Awarded APA 2008 Main prospect Ypsilon Operator DONG (40%) Hydrocarbons Oil Partners North Energy (30%) Expected drilling Q4 2011 Front Exploration (20%) Prob. of…
PL 385 Jette firm well late in 2011/early 2012 PL 385 in the Norwegian Sea Acquired 2009 Main prospect Jette Operator Statoil (45%) Hydrocarbons Gas Cond. Partners North Energy (15%) Expected drilling Q4 2011 Wintershall (20%) Prob. of…
PL 498 Skagen drill decision taken PL 498 in the North Sea Acquired 2009 Main prospect Skagen Operator Lotos (25%) Hydrocarbons Oil Partners North Energy (25%) Expected drilling 2012 Edison Int. (25%) Prob. of success 36% Skagen 44…
Large resource potential in the previously disputed area to the East Industry estimates indicate recoverable resources of 3,365 mmboe Acreage may be included in the next numbered licensing round (22nd) North Energys location ideal…
Actively participating in the discussion around the opening of the LoVe area Significant resources close to shore The authorities estimate recoverable resources of 1,208 mmboe, mainly oil Acreage may be included in the 23rd licensing…
Positioned for success in future rounds. Yesterdays awards: PL 594 Barents Sea PL 595 PL594 (3 mmboe) North Energy 20% PL 595 (19 mmboe) North Energy 40% Norwegian Sea PL 587 (8 mmboe) PL 590 North Energy 40% PL 587 PL590 (12…
Fully funded exploration programme Net cash position of NOK 452 million as of end Q3 2010 Cash balance of NOK 107 million Expected tax reimbursement of NOK 345 million No interest bearing debt Exploration loan facility of NOK 760…
North Energy investment highlights One commercial discovery maturing towards PDO 6 mmboe net to North Energy Timetable stipulates PDO to be submitted in 2013 Five firm wells to be drilled next 18 months targeting 54 mmboe net…
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