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,…
Highlights Third Quarter 2012 and subsequent events EBITDA of USD 6.7 million Continued strong production from the Manati field, averaging 6.7 MMm3/day Completed drilling of two exploration wells in the southern Santos basin…
Update on strategic review of asset portfolio We are exploring and evaluating the strategic alternatives for our business Received contingent offers for parts of the West African assets in October The offers are still being…
Panoro Energy ASA Company snapshot - Listing: Oslo Stock Exchange (OSE) - Offices: Rio de Janeiro (HQ) , London and Oslo - Assets: Brazil Manati Production Manati BS-3 (Santos) - Development Santos - Exploration West Africa…
Manati field Continued strong production Manati gross production 8,0 Manati (Brazil) BCAM-40 7,0 MMm3/day Operator Petrobras (35%) 6,0 5,0 Working Interest 10% 4,0 Other Partners Queiroz Galvo (45%), Brasoil (10%) 3,0 6,6 6,7…
Round 9 exploration blocks Drilling campaign in southern Santos ongoing Round 9 (Brazil) BM-S-63, BM-S-71, BM-S-72 Sabi well completed in Q3-2012 Operator Vanco (40%) Working Interest 15% Canrio well completed in Q4-2012 Other partners…
Sabi and Canrio wells The well targeted the Sabi prospect (Block BM-S-72) was completed in September The well reached a depth of 4,200 meters Multiple hydrocarbon bearing zones Operator is completing studies of well results Joint…
Drilling of the Jandia prospect ongoing Block BM-S-71 5 km Spud November 1st Currently drilling at 1250 metres Reservoir: Albian carbonate oolite sandstones Main target are limestone reservoirs Expected Hydrocarbons: Light…
BS-3 area Santos Basin developments - Cavalo Marinho (50%), Estrela do Mar (65%) BS-3 area (Brazil) Operator W.I. range Petrobras (35-100%) Working Interest range 35-65% Other Partners Queiroz Galvo (0-15%), Brasoil (0-15%) 1st Prod To be…
Growth opportunities in Brazil Basins to be included in 11th Round 11th license Round coming up Preparing for Equatorial margin offshore Parnaba Reviewing onshore opportunities Sergipe- Alagoas Approximately 150,000 km 2D…
Mengo-Kundji-Bindi Kundji pilot program completed MKB (Congo) Offers received Operator Working Interest SNPC - Congo National Oil Company (60%) 20% Divestment process ongoing Other Partners PetroCI (20%) Production commenced on wells…
Aje Large gas, condensate and oil discovery OML 113 Aje (Nigeria) Operator YFP Participating Interest 6.502%* Other Partners Vitol, Jacka Resources, Chevron 1st Production TBD Current stage Field Development Planning Gas,…
Exploration asset Dussafu Large exploration license with multiple prospects Exploration portfolio Dussafu (Gabon) Key Facts Operator Harvest Natural Resources (66.67%) Working Interest 33.33% Dussafu license 2,775 Km2 Other Partners No…
Dussafu Phase 3 Exploration Dussafu exploration New 3D in North West identifying and generating new synrift prospects Additional prospectivity identified in the deeper portion of the license Image courtesy of Harvest Natural…
Tortue Exploration Well Tortue Post & Pre-salt plays with stacked targets 4-way closure at pre-salt Gamba and Dentale levels Gamba crest at 2780 metres Middle Dentale crest at 3045 metres Gamba Structure Gross consolidated mean…
Financial Review Anders Kapstad, CFO
Financial highlights Q3-2012 and subsequent events EBITDA of USD 6.7 million Positive cash flow from operations of USD 5.9 million Comfortable financial position Total assets of USD 425 million, equity ratio of 54% Cash position of…
Profit & Loss Statement (USD 000) Condensed consolidated statement of comprehensive income (USD 000) Q2-2012 Q3-2012 Oil and Gas revenue 12,135 12,010 Other income - 891 Total revenues and other income 12,135 12,901 Production costs…
Group P&L items Q3-2012 (USD million) 20
Group balance sheet Per Sep 30, 2012 Balance sheet (USD 000) Jun 30, 2012 Sep 30, 2012 Licenses and production assets 293,955 297,472 Other non-current assets 8,808 8,484 Total non-current assets 302,763 305,956 Trade and other…
Outlook Jan Kielland, CEO
Outlook Currently negotiating offers for West African assets Manati gas production estimate 6.0 MMm3/day for 2012 Drilling Jandia prospect, a high impact well in the Santos basin Drilling Tortue prospect in Gabon Preparation…
Third Quarter 2012 Financials Q&A Please visit www.panoroenergy.com for more information
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