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Q4 2012 – North Energy

North Energy · Feb 20, 2013 · 34 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Q4 2012 – North Energy – slide 1
    North Energy Q4 2012 20. February 2013
  2. Q4 2012 – North Energy – slide 2
    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…
  3. Q4 2012 – North Energy – slide 3
    Agenda Highlights Q4 Financial update Exploration update Introducing new technology in Norway Outlook North Energy ASA, Markedsgata 3, Alta, Norway. Phone: (+47) 78 60 79 50 Fax: (+47) 78 60 83 50 E-Mail: postnorthenergy.no…
  4. Q4 2012 – North Energy – slide 4
    Highlights Q4 and later events Dry well on PL 498 Skagen Other prospects in the license under evaluation Gas discovered in PL 385 Jette Commercial potential undecided PL 510 Scarecrow new firm well in the Norwegian Sea Wide 22nd…
  5. Q4 2012 – North Energy – slide 5
    Agenda Highlights Q4 Financial update Exploration update Introducing new technology in Norway Outlook North Energy ASA, Markedsgata 3, Alta, Norway. Phone: (+47) 78 60 79 50 Fax: (+47) 78 60 83 50 E-Mail: postnorthenergy.no…
  6. Q4 2012 – North Energy – slide 6
    North Energy ASA Profit & Loss Q4 Q4 Year Year MNOK 2012 2011 2012 2011 Profit - - (46,9) - Payroll 11,5 16,5 56,8 70,9 Less no of staff Depreciation 2,6 2,1 10,2 7,2 Exploration expenses 257,1 198,2 540,1 340,2 See detailed overview…
  7. Q4 2012 – North Energy – slide 7
    High activity level driving exploration costs Exploration expenses Q4 MNOK Undecided well PL 385 Jette 95 Dry well PL 498 Skagen 92 Seismic data 22nd Concession Round 51 General exploration 19 Sum 257 North Energy ASA, Markedsgata…
  8. Q4 2012 – North Energy – slide 8
    North Energy ASA - Balance sheet Year end Year end Year end MNOK 2012 2011 2010 Assets Fixed Assets 304,2 418,6 161,9 Capitalized drilling cost Short term receivables 540,6 608,4 385,5 Cash and cash equivalents 28,5 34,2 90,7 Total…
  9. Q4 2012 – North Energy – slide 9
    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 current…
  10. Q4 2012 – North Energy – slide 10
    Agenda Highlights Q4 Financial update Exploration update Introducing new technology in Norway Outlook North Energy ASA, Markedsgata 3, Alta, Norway. Phone: (+47) 78 60 79 50 Fax: (+47) 78 60 83 50 E-Mail: postnorthenergy.no…
  11. Q4 2012 – North Energy – slide 11
    Firm Drilling Programme 2013 2014 - Dec. Aug. Sep. Nov. Mar. Feb. May Jan. Jun. Oct. Apr. Jul. License NE Share Operator Rig PL 535 Norvarg 2 20 % Total Leiv Eiriksson PL 299 Frode 20 %…
  12. Q4 2012 – North Energy – slide 12
    PL 535 Norvarg significant gas discovery PL 535 in the Barents Sea Awarded 20th round (2009) Main prospect Norvarg Operator Total (40%) Hydrocarbons Gas Partners North Energy (20%) Det Norske (20%) Valiant (13%) Rocksource (7%) Gross…
  13. Q4 2012 – North Energy – slide 13
    Well Norvarg-2 planned for spring 2013 Norvarg-2 position Spud expected March-April 2013 with Leiv Eiriksson rig Norvarg-2 will test geological model and provide further information on Reservoir productivity, especially channel…
  14. Q4 2012 – North Energy – slide 14
    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 Agora (28.5%) Expected drilling Q2 2013 Dong (20%) North Energy (20%) Prob. of…
  15. Q4 2012 – North Energy – slide 15
    Frode in the fairway of discoveries The volume is decided by the sealing fault Dry well to the NE indicates that the main fault is sealing If fault does not seal, still sufficient oil to give commercial accumulation in the…
  16. Q4 2012 – North Energy – slide 16
    PL 510 Firm 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 Prob. of success 40% (20%)…
  17. Q4 2012 – North Energy – slide 17
    PL 510 New firm well for North New license group from 1.2.2013 Maersk oil 50% operator Edison 30% North Energy 20% 5 prospects with potential cluster development: Breitind Scarecrow Toto Dorothy Henry Breitind Wet gas…
  18. Q4 2012 – North Energy – slide 18
    PL 526 Vgar Drill or drop in spring of 2013 6609/7-1 A B Depth PL 526 in the Norwegian Sea (MSLm) 1000 Awarded 20th round (2009) Main prospect Vgar Nordland Group Vgar Prospect Operator North Energy Hydrocarbons Oil and /or Base…
  19. Q4 2012 – North Energy – slide 19
    PL 526 Vgar, evaluated with new technology, is possibly the first drill decision in DoD licenses Vgar prospect - a big prospect with possible oil and gas cap on the doorstep to Lofoten area Well 6609/7-1 indicate presence of gas…
  20. Q4 2012 – North Energy – slide 20
    PL 590-Mikkeli 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…
  21. Q4 2012 – North Energy – slide 21
    Lange discovery Rodriguez 6407/1-6S (Rodriguez) The well encountered 3 thin sand intervals over a zone of 52 m The operator Wintershall in PL 475 has estimated the recoverable Lange gas/cond discovery volumes to 20 - 125 Mmboe…
  22. Q4 2012 – North Energy – slide 22
    Rodriguez an interesting discovery - May extend into PL 590 acreage A strong seismic anomaly of the Lange formation in PL 590 may represent an extension of the recent Rodriguez discovery Lange anomaly North Energy ASA,…
  23. Q4 2012 – North Energy – slide 23
    Rodrigues discovery reservoirs may have significant improvement towards PL 590 Rodriguez PL 590 North Energy ASA, Markedsgata 3, Alta, Norway. Phone: (+47) 78 60 79 50 Fax: (+47) 78 60 83 50 E-Mail: postnorthenergy.no…
  24. Q4 2012 – North Energy – slide 24
    Drill or Drop (DoD) licenses Drill or drop decisions to be made the next six months Decissions in drill or drop licences PL 526 granted 6 months extension to Licenses to be Relinquished Licences to be May 2013 Relinquished PL…
  25. Q4 2012 – North Energy – slide 25
    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 535 Norvarg 2 20 % Total…
  26. Q4 2012 – North Energy – slide 26
    Agenda Highlights Q4 Financial update Exploration update Introducing new technology to Norway Outlook North Energy ASA, Markedsgata 3, Alta, Norway. Phone: (+47) 78 60 79 50 Fax: (+47) 78 60 83 50 E-Mail: postnorthenergy.no…
  27. Q4 2012 – North Energy – slide 27
    A 3D image from Rex for interpretation Well 6609/7-1 North Energy ASA, Markedsgata 3, Alta, Norway. Phone: (+47) 78 60 79 50 Fax: (+47) 78 60 83 50 E-Mail: postnorthenergy.no www.northenergy.no
  28. Q4 2012 – North Energy – slide 28
    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…
  29. Q4 2012 – North Energy – slide 29
    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…
  30. Q4 2012 – North Energy – slide 30
    A process for finding oil in 2013-2017 Seismic 1. Rex 2. 3. North partner Screening Rex Detail Energy 3D database. VD on 3D G&G VD on 20.000 before G&G evaluations prospects km2/year Strength Volume Shape POS QC,…
  31. Q4 2012 – North Energy – slide 31
    Agenda Highlights Q3 Financial update Exploration update Introducing new technology to Norway Outlook North Energy ASA, Markedsgata 3, Alta, Norway. Phone: (+47) 78 60 79 50 Fax: (+47) 78 60 83 50 E-Mail: postnorthenergy.no…
  32. Q4 2012 – North Energy – slide 32
    Outlook 6 months outlook First appraisal well on Norvarg in the Barents Sea Frode exploration well in the North Sea Drill or drop decision on PL 526 Drill or drop decision on PL 562 22nd round application award 12 months outlook…
  33. Q4 2012 – North Energy – slide 33
    Q&A North Energy ASA, Markedsgata 3, Alta, Norway. Phone: (+47) 78 60 79 50 Fax: (+47) 78 60 83 50 E-Mail: postnorthenergy.no www.northenergy.no
  34. Q4 2012 – North Energy – slide 34
    Thank you for your attention North Energy ASA, Markedsgata 3, 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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