North Energy DNB Markets Oil, Offshore & Shipping Conference Oslo, 4 March 2015 Knut Sberg, acting CEO
Agenda North Energy at a glance Operational and financial update Outlook Q&A North Energy ASA postnorthenergy.no (+47) 78 60 79 50 www.northenergy.no
North Energy at a glance Norwegian exploration company focusing Wells 2015 solely on the NCS Leading G&G expertise in the Norwegian Sea and Barents Sea Strong track record in licensing rounds 28 awards since 2009 70% technical…
Our business model: Explore for commercial oil were we can make a difference 2 Drill 3 1 Identify & State of Discover mature quality the art commercial oil prospects G&G 4 Divest and reallocate North Energy ASA…
Why NCS and the Barents Number of wells NCS remains an attractive basin to explore 13 wells with stable terms and significant yet to be 33 wells found resources 10 wells The industry is looking to the north as hit rates…
Barents Sea focus breakthrough with largest remaning resource potential Barents Sea awards since Barents Sea licences today start-up Statoil 21 North Energy 17 OMV 15 Eni 13 Lundin 12 Det norske 9 Wintershall 8 Edison 8…
Agenda North Energy at a glance Operational and financial update Outlook Q&A North Energy ASA postnorthenergy.no (+47) 78 60 79 50 www.northenergy.no
PL 616 Haribo well close to Hod field, south in North Sea PL 616 in the North Sea Awarded APA 2011 Main prospect Haribo Operator Edison (25%) Hydrocarbons Oil Partners Concedo (20%) Expected drilling Q3 2015 Noreco (20%) Reservoir…
PL 591 Zumba significant prospect next to Heidrun PL 591 in the Norwegian Sea Awarded APA 2011 Main prospect Zumba Operator Tullow (80%) Hydrocarbons Gas and Oil Partners North Energy (15%) Expected drilling Q3 2015 Lime Petroleum…
PL 708 rnen exciting Permian well PL 708 in the Barents Sea Awarded 22. round Main prospect rnen (Seiland east) Operator Lundin (40%) Hydrocarbons Oil Partners North Energy (10%) Expected drilling Q4 2015 Edison (20%) Reservoir Upper…
2016/17 candidate: PL 722 Skaidi PL 722 in the Barents Sea Awarded 22. round Main prospect Skaidi/Inca Operator GDF (30 %) Hydrocarbons Oil Partners North Energy (10%) Expected drilling 2016/2017 Tullow (15%) Reservoir Snadd…
2016/17 candidate PL 590 Sierra PL 590 in the Norwegian Sea Awarded APA 2010 Main prospect Sierra Operator North Energy (30%) Hydrocarbons Gas Condensate Partners Faroe (30%) Expected drilling 2016/2017 Wintershall (30%) Reservoir…
2016/17 candidate: PL 762 Vgar PL 762 in the Norwegian Sea Awarded APA 2013 Main prospect Vgar Operator Noreco (20%) Hydrocarbons Oil&gas Partners North Energy (20%) Expected drilling N/A Fortis (20%) Reservoir Permian Lime (20%) Prob.…
Recent APA award: PL 805 a Barents Sea licence in an attractive neighbourhood Licence with multiple Alta prospects close to the Gotha Highbury recent Gotha and Alta PL 805 discoveries Leads Fits into Norths core focus area…
A robust financial position Q4 2014 net cash Net cash* position Q4 2014 position of NOK 325 million 20 Unused exploration loan facility NOK 895 million 56 Historical track record of securing sufficient funds to match future…
Responding to the challenging market conditions In parallel with ongoing strategic review the Company has initiated a significant cost cutting programme Annual operating cost base to be reduced down to NOK 100 million Northern…
Agenda North Energy at a glance Operational and financial update Outlook Q&A North Energy ASA postnorthenergy.no (+47) 78 60 79 50 www.northenergy.no
Summary and outlook Three wells scheduled for 2015 Testing a total of approx. 600 mmboe of which approx. 75 mmboe net to North Energy 2015 programme fully funded Focusing on maturing quality opportunities for 2016 and beyond…
Q&A North Energy ASA postnorthenergy.no (+47) 78 60 79 50 www.northenergy.no
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