Disclaimer This presentation does not constitute an offer to buy or sell shares or other financial instruments of Panoro Energy ASA (Company). This presentation contains certain statements that are, or may be deemed to be,…
Operational Review Kjetil Solbrkke, CEO
Highlights Second Quarter 2012 and subsequent events EBITDA of USD 6.5 million Continued strong production from the Manati field, averaging 6.6 MMm3/day Exploration drilling commenced on the Sabi well in Block BM-S-72 in the…
Manati (10%) Continued strong production BCAM-40 Manati (Brazil) Operator Petrobras (35%) Working Interest 10% Other Partners Queiroz Galvo (45%), Brasoil (10%) 1st Prod 2007 Current stage Production through Aug 2 Gas price of…
Round 9 exploration blocks Drilling campaign in southern Santos basin commenced Round 9 (Brazil) BM-S-63, BM-S-71, BM-S-72 Operator Vanco (40%) Sabi well spudded on July 7 Panoros working interest 15% First of 3 well drilling campaign…
BS-3 area Santos Basin developments - Cavalo Marinho (50%), Estrela do Mar (65%) BS-3 area (Brazil) Operator Petrobras (35-100%) Working Interest 35-65% Other Partners Queiroz Galvo (0-15%), Brasoil (0-15%) 1st Prod To be decided Current…
Mengo-Kundji-Bindi (20%) Kundji pilot program completed MKB (Congo) MKB Drilling completed on wells KUN-204, KUN- Operator SNPC - Congo National Oil Company (60%) 205 and KUN-206, with log results in line Working Interest 20% Other…
Kundji development strategy Pilot program Potential development program Gross oil Net pay Well (meters) (meters) KUN-4bis 136 64 KUN-5 142 39 KUN-201 183 57 5 4 bis KUN-202 129 52 KUN-203 134 27 KUN-204 158 49 201 205 KUN-205…
Development Asset Aje Large gas, condensate and oil discovery OML 113 Aje (Nigeria) Gas, condensate and oil discovery in Operator YFP Participating Interest 6.502%* range of water depth 100 1,500m, 24 Other Partners Vitol, Jacka…
Exploration asset Dussafu (33.33%) Large exploration license with multiple prospects Dussafu (Gabon) Exploration portfolio Entered into the 3rd exploration period Operator Harvest Natural Resources (66.67%) in May - four years with one…
Review of the Companys assets Retained FirstEnergy Capital LLP to explore and evaluate strategic alternatives for the West African portfolio Strategic alternatives may include: Sale or partial sale Merger(s) Other alternatives…
Outlook Expecting continued strong gas demand and high production on Transocean Arctic I Manati throughout the year Drilling 3 high impact wells in the Santos basin Completion of pilot program on MKB, with test production of the…
Financial Review Anders Kapstad, CFO
Financial highlights Q2-2012 and subsequent events EBITDA of USD 6.5 million Positive cash flow from operations of USD 5.3 million Solid financial position Total assets of USD 418 million, equity ratio of 56% Cash position of USD…
Profit & Loss Statement (USD 000) Condensed consolidated statement of comprehensive income (USD 000) Q1-2012 Q2-2012 Oil and Gas revenue 10,949 12,135 Other income - - Total revenues and other income 10,949 12,135 Production costs (1,222)…
Group P&L items Q2-2012 (USD million) 8,0 6,0 (2.0) 4,0 (0.4) 6,5 2,0 (3.5) 0,0 (0.9) -2,0 (5.4) -4,0 (8.7) -6,0 (3.1) -8,0 -10,0 EBITDA Depreciation Share-based Net interest Net other Net foreign Income tax Net Income…
Group balance sheet Per June 30, 2012 Balance sheet (USD 000) Mar 31, 2012 Jun 30, 2012 Licenses and production assets 307 413 293 955 Other non-current assets 11 662 8 808 Total non-current assets 319 075 302 763 Trade and other…
Second Quarter 2012 Financials Q&A Please visit www.panoroenergy.com for more information
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