North Energy at DNB Markets Oil, Offshore & Shipping Conference Oslo, 6 March 2013
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…
Agenda North Energy in brief Exploration status Funded for new commitments North Energy ASA, Markveien 38b, Postboks 1243,9504 Alta, Norway. Phone: (+47) 78 60 79 50 Fax: (+47) 78 60 83 50 E-Mail: postnorthenergy.no…
Introduction to North Energy The most northern oil and gas Portfolio development, of licences company. Headquartered in Alta in 24 Finnmark, Northern Norway 14 Listed on Oslo Axess (ticker: NORTH) 8 Market cap of 35 MUSD 24…
Exploration success in core the Norwegian Sea and the Barents Sea right from the start The Fogelberg discovery Discovery Area Mmboe First exploration well 1 Norvarg Barents Sea 290* The Norvarg discovery 2 Skrugard Barents Sea 260…
Competition for resources on the Norwegian Continental Shelf NCS is maturing. Almost half of 50 cos 30 cos 20 cos the resources are produced and rate of discovery is dropping With a most likely outcome, the opened part of the…
First 5 year plan is fulfilled Build up and execution of exploration program Two commercial discoveries Northern profile recognized by the authorities Solid awards in all licensing rounds Well-positioned for the upcoming licensing…
Agenda North Energy in brief Exploration status Funded for new commitments North Energy ASA, Markveien 38b, Postboks 1243,9504 Alta, Norway. Phone: (+47) 78 60 79 50 Fax: (+47) 78 60 83 50 E-Mail: postnorthenergy.no…
Licence map Partner in 24 licences on the Norwegian Continental Shelf 8 in the Barents Sea 8 in the Norwegian Sea 8 in the North Sea Operator in two licences (Norwegian Sea) Licence award in Norwegian Sea in latest licence…
Firm and possible wells 2013 - 2015 Two wells firmed up for 2013 Wells 2013 PL 535 Norvarg appraisal (20%) Wells 2014-2015 operated by Total Drill or Drop Decision PL 299 Frode (20%) operated by next 6 months Talisman Drilling…
Firm Drilling Programme North Energy 2013 2014 - Dec. Aug. Sep. Nov. Feb. Mar. May Jan. Jun. Oct. Apr. Jul. Licence NE Share Operator Rig PL 535 Norvarg 2 20 % Total Leiv Eiriksson PL 299 Frode…
PL 535 Norvarg significant gas discovery PL 535 in the Barents Sea- pre drill Awarded 20th round (2009) Main prospect Norvarg Operator Total (40%) Hydrocarbons Gas Partners North Energy (20%) Det norske (20%) Valiant (13%) Rocksource…
Well Norvarg-2 planned for spring 2013 Norvarg-2 position Spud expected April 2013 with Leiv Eiriksson rig Norvarg-2 will test geological model and provide further information on Reservoir productivity, especially channel…
PL 299 Frode - oil in the North Sea PL 299 Frode in the North Sea Acquired 2012 Main prospect Frode Operator Talisman (31.5%) Hydrocarbons Oil Partners Dong (20%) Expected drilling Q22013 Agora (28.5%) North Energy (20%) Prob. of…
PL 510 new partnership has decided to drill a well in 2014 - 15 PL 510 in the Norwegian Sea Awarded APA 2008 Main prospect Scarecrow Operator Maersk (50%) Hydrocarbons Gas Cond. Edison (30%) Expected drilling 2014 - 15 North Energy…
PL 526 Vgar Drill or drop in spring of 2013 6609/7-1 A B PL 526 in the Norwegian Sea Depth (MSLm) Awarded 20th round (2009) Main prospect Vgar Nordland Group 1000 Vgar Prospect Operator North Energy Hydrocarbons Oil (66,67%)* Base…
PL 590 extension of drill or drop PL 590 in the Norwegian Sea Awarded APA2010 Main prospect Lange Operator North Energy (40%) Hydrocarbons Oil Partners Faroe Petroleum Norge AS Expected drilling 2014 (30%) Wintershall Norge ASA…
First possible addition to Drilling Programme from operated DoD license 2013 2014 Dec. Aug. Sep. Nov. Feb. Mar. May Jan. Jun. Oct. Apr. Jul. License NE Share Operator Rig PL 299 Frode 20 % Talisman…
Agenda North Energy in brief Exploration status Funded for new commitments North Energy ASA, Markveien 38b, Postboks 1243,9504 Alta, Norway. Phone: (+47) 78 60 79 50 Fax: (+47) 78 60 83 50 E-Mail: postnorthenergy.no…
Q4 report: Company financed well into 2014 Net cash position Q4 2012 Net cash position of NOK 259 million 600 Unused exploration 500 16 87 loan facility of NOK 753 million 400 187 Company financed 300 489 well into 2014 with 200…
Rex - North Energys new partner is using Virtual Drilling, measuring resonance The theory at the base of Virtual Drilling (VD) is known as resonance Requires calculating the resonating frequency of a certain quality of oil in a…
North Energy has blind tested Rex based on unknown 2D seismic over unknown wells Of the 8 blind prospects Rex would have drilled only 3 (moved well 7) and made 3 discoveries North Energy plans to provide Rex with 30 prospects for…
Technology and financial cooperation with Rex See notice of EGM posted 1st March 4 year Virtual Drilling technology agreement 4 year credit facility of MNOK 100 to cover Virtual Drilling No commitments or obligations 8% interest…
Cooperation with seismic company TGS TGS NOPEC has a market leading position in the Barents Sea Large library of existing seismic data Ambitious plans for the Barents Sea and new open areas From TGS NOPEC at Pareto…
Financial cooperation with TGS See notice of EGM posted 1st March Covering purchase of seismic data and services over 4 years Cash payment of 35% Credit facility of MNOK 200 No commitments or obligations 8% interest payable, no…
Agreements positions North before 22nd and future concession round awards Strengthen financial capacity and enable North to financially take on significant 22R commitments Provides time to mature the Norvarg gas discovery Funding…
Thank you for your attention North Energy ASA, Markveien 38b, Postboks 1243,9504 Alta, Norway. Phone: (+47) 78 60 79 50 Fax: (+47) 78 60 83 50 E-Mail: postnorthenergy.no www.northenergy.no
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