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 2013 and subsequent events EBITDA of USD 3.8 million, up from USD 3.4 million in the previous quarter Divestment processes: MKB: Completed Aje: Received USD 4 million Lekoil has requested an extension to…
Ongoing divestment procesess SPA with Lekoil for divestment of OML 113 (Aje) for USD 30 million cash consideration Received USD 4 million + USD 3 million bid bond Lekoil has requested an extension to Nov 25 for payment of balance…
Third quarter update Jan Kielland, CEO 5
Manati field Asset held for sale Manati (Brazil) BCAM-40 Manati gross production Operator Petrobras (35%) 7,0 Working Interest 10% 6,0 Queiroz Galvo (45%) 5,0 Other Partners Brasoil (10%) MMm3/day 4,0 1st Prod 2007 6,6 3,0 6,1…
Remaining Brazilian assets: BS-3 area Santos Basin developments - Cavalo Marinho (50%), Estrela do Mar (65%) BS-3 area (Brazil) Project Status Operator W.I. range Petrobras (35-100%) Received letter from ANP requesting Working Interest…
Dussafu Large exploration license with multiple discoveries and prospects Dussafu (Gabon) Exploration portfolio Key Facts Operator Harvest Natural Resources (66.67%) Panoros oil discoveries in Ruche (2011) and Working Interest 33.33%…
3D Seismic acquisition program ongoing in Dussafu Acquiring 1,260 km2 3D in outboard section plus area covering Tortue and Ruche Seeking to identify pre-salt prospectivity, and provide improved data to enhance placement of Tortue…
Gabons latest offshore license round Key info Firm awards still subject to negotiations 13 blocks awarded to 11 companies Marathon and Cobalt bid for block G-13 next to Dussafu Mainly Dentale play Data courtesy of IHS 10
Dussafu Dussafu is a potential company maker Reserves close to commerciality - outboard 3D seismic will upgrade leads to prospects The Dussafu license lies in the heart of Gabons pre-salt play, which is attracting international…
Aje Asset held for sale June 18: Announced SPA for divestment of OML 113 (Aje) to Lekoil for USD 30 million plus working capital adjustments from 1st January September 16: Received initial payment of USD 3 million October 31:…
Financial review Anders Kapstad, CFO
Financial and accounting highlights Q3-2013 and subsequent events Manati and Aje treated as assets held for sale in the balance sheet Manati treated as continued operations in P&L (EBITDA) EBITDA of USD 3.8 million in Q3-13, up from…
Profit & Loss statement (USD 000) Condensed consolidated statement of comprehensive income Q2-2013 Q3-2013 Oil and gas revenue 9,484 10,795 Total revenues 9,484 10,795 Production costs (2,803) (3,981) Exploration related costs (117)…
Group balance sheet Per Sept 30, 2013 Balance sheet (USD 000) Jun 30, 2013 Sept 30, 2013 Licenses and production assets 101,214 101,661 Other non-current assets 20,469 14,201 Total non-current assets 121,683 115,862 Trade and other…
Outlook Continuing discussions with Lekoil regarding Aje Awaiting approval from ANP for the assignment of Rio das Contas to GeoPark Assessing the BS-3 situation and response to ANP together with partners Petrobras and Brasoil…
Third quarter 2013 financials Q&A Please visit www.panoroenergy.com for more information
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