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STOCKHOLM – North Energy

North Energy · Mar 17, 2010 · 32 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. STOCKHOLM – North Energy – slide 1
    North Energy Stockholm 17 March 2010 This presentation is prepared for discussion purposes only, and does not constitute and does and will not form part of, and should not be construed as, any offer or invitation or recommendation to buy…
  2. STOCKHOLM – North Energy – slide 2
    Introduction to North Energy ASA Barents Sea North Energy is an independent E&P company headquartered in Alta in the province of Finnmark Incorporated in the autumn of 2007 with Alta capital from investors in Northern Norway Head…
  3. STOCKHOLM – North Energy – slide 3
    North Energy highlights Fully funded 8 well exploration program fully funded exploration Targeting average prospect size of 50 mmboe1 net to North Energy program Expecting to make two to three discoveries 90% probability of making…
  4. STOCKHOLM – North Energy – slide 4
    Rapid build-up NOVEMBER 2007 2,5 YEARS MARCH 2010 Organization CEO, Erik Karlstrm, hired November 2007 Experienced organization with 42 employees in Alta and Oslo Capital A total of MNOK 253 equity capital raised from investors…
  5. STOCKHOLM – North Energy – slide 5
    Unique position Awards in the 20th licensing round Recognised by the authorities 20th LICENSING ROUND Licenses Operatorships Norwegian Sea Barents Sea Minister of Petroleum and Energy, Mr. Terje Riis- Statoil Noreco 7 5 5 4 5 3…
  6. STOCKHOLM – North Energy – slide 6
    Experienced management Johan Petter Barlindhaug, Chairman Founder of Barlindhaug, the largest combined consulting, development and engineering group in Northern Norway Awarded the Order of St. Olav in November 2009 for his…
  7. STOCKHOLM – North Energy – slide 7
    Solid financial situation Liquidity as of Cash balance of MNOK 46 Q4 2009 Expected tax reimbursement of MNOK 149 MNOK 45 drawn on a NOK 300 million exploration loan facility with SEB Net cash of NOK 150 million 4sea energy The…
  8. STOCKHOLM – North Energy – slide 8
    Fully funded exploration program Operational targets Current well program Build a portfolio of between 14 and 20 licenses Well Prospect Licence Interest 2010 2011 2012 before the end of 2010 February Rig: West Alpha 1 Fogelberg PL 433…
  9. STOCKHOLM – North Energy – slide 9
    Fogelberg North Energys first well (ongoing) 6506/9-2 6506/12-12A, S A B PL 433 in the Norwegian Sea 2500 Acquired 2009 Main prospect Fogelberg Operator Centrica (28%) Hydrocarbons Gas Cond. 3000 Partners North Energy (12%) Expected…
  10. STOCKHOLM – North Energy – slide 10
    In total, two firm wells in the Norwegian Sea in 2010 Norwegian Sea license map Licence PL 385 Interest 15% Operator Statoil Main target Jette Two licenses with firm wells PL 433 12% Centrica Fogelberg close to infrastructure…
  11. STOCKHOLM – North Energy – slide 11
    The Norwegian Sea is in its golden phase of exploration Discovery rates and sizes Mid/golden phase Norwegian Sea The Norwegian Sea is in its golden phase of 300 Early phase Mid phase 60 % exploration where the North Sea was in the…
  12. STOCKHOLM – North Energy – slide 12
    Three firm wells in the Barents Sea in 2011 Barents Sea license map Licence PL 518 Interest 30% Operator DONG Main target Tana Three firm, high impact wells PL 518B 30% DONG Omega in 2011 PL 530 20% GDF Suez Heilo PL 535 20%…
  13. STOCKHOLM – North Energy – slide 13
    Summary Sound business Uniquely positioned as a leading Northern Norwegian E&P player case Focused on high PoS prospects with short lead time to production 8 well exploration program fully funded through proposed equity issue…
  14. STOCKHOLM – North Energy – slide 14
    Appendix Resource potential 16 Regulatory framework 17 License portfolio 19 14
  15. STOCKHOLM – North Energy – slide 15
    Still vast undiscovered resources Total resources on the Norwegian continental shelf Resources in the Norwegian Sea (20.2 bn. bbl o.e.) Resources in the North Sea (54.0 bn. bbl o.e.) Produced 14 % Produced 19 % Remaining reserves…
  16. STOCKHOLM – North Energy – slide 16
    Regular access to more exploration acreage Licensing rounds Annual awards of licenses in mature areas in the APA-rounds (Awards in Predefined Areas) Ordinary licensing rounds in frontier areas every second or third year Next…
  17. STOCKHOLM – North Energy – slide 17
    Attractive tax system for exploration companies Tax on profit The petroleum tax system is a profit based tax system, where the tax is based on the net profits from E&P activities The marginal tax rate on the NCS is 78 %, of which 28…
  18. STOCKHOLM – North Energy – slide 18
    Attractive prospect inventory Probability of Main Hydrocarbon Gross Mean Net Mean License Equity Area Prospect Name Operator Success Phase Unrisked Risked aggregated mmboe mmboe Firm wells 2010 2012 PL 4331 12 % Norwegian Sea Fogelberg…
  19. STOCKHOLM – North Energy – slide 19
    Jette second firm well in 2010 PL 385 in the Norwegian Sea Acquired 2009 Main prospect Jette Operator Statoil (45%) Hydrocarbons Gas Cond. Partners North Energy (15%) Expected drilling Q4 2010 Wintershall (20%) Prob. of success 37%…
  20. STOCKHOLM – North Energy – slide 20
    Heilo first of three high impact wells in 2011 A B PL 530 in the Barents Sea Seabed 0.500 Awarded 20th round (2009) Main prospect Heilo Operator GDF Suez (40%) Hydrocarbons Oil w/gas cap Heilo ,1270m 1.000 Partners North Energy…
  21. STOCKHOLM – North Energy – slide 21
    Norvarg third of three high impact wells in 2011 PL 535 in the Barents Sea Awarded 20th round (2009) Main prospect Norvarg Operator Total (40%) Hydrocarbons Gas Partners North Energy (20%) Expected drilling 2011 Det norske (20%) Prob.…
  22. STOCKHOLM – North Energy – slide 22
    Tana second of three high impact wells in 2011 PL 518 in the Barents Sea Awarded APA 2008 Main prospect Tana Operator DONG (40%) Hydrocarbons Oil Partners North Energy (30%) Expected drilling 2011 Discover (20%) Prob. of success 14%…
  23. STOCKHOLM – North Energy – slide 23
    Skagen first well anticipated in 2011 PL 498 in the North Sea Acquired 20091 Main prospect Skagen Operator Lotos (25%) Hydrocarbons Oil Partners 4sea energy/NE (25%) Expected drilling 2011/2012 Edison Int. (25%) Prob. of success 36%…
  24. STOCKHOLM – North Energy – slide 24
    Dorothy/Toto possible well in 2012 PL 510 in the Norwegian Sea Awarded APA 2008 Main prospect Dorothy/Toto Operator Centrica (40%) Hydrocarbons Gas Cond. Partners North Energy (20%) Expected drilling 2012 Faroe Petroleum (20%) Prob. of…
  25. STOCKHOLM – North Energy – slide 25
    Vgar possible well in 2012 PL 526 in the Norwegian Sea Awarded 20th round (2009) Main prospect Vgar Operator North Energy (40%) Hydrocarbons Oil w/gas cap Partners Noreco (20%) Expected drilling 2012 Dana Petroleum (20%) Prob. of…
  26. STOCKHOLM – North Energy – slide 26
    Elbrus future gas for second LNG train on Melkya PL 536 in the Barents Sea Awarded 20th round (2009) Main prospect Elbrus Operator Statoil (40%) Hydrocarbons Gas Partners North Energy (20%) Expected drilling N/A Discover (20%) Prob. of…
  27. STOCKHOLM – North Energy – slide 27
    Alta promising prospect in the Hammerfest basin PL 5641 in the Barents Sea Awarded APA 2009 Main prospect Alta Operator OMV (50%) Hydrocarbons Oil w/gas cap Partners North Energy (20%) Expected drilling N/A Wintershall (30%) Prob. of…
  28. STOCKHOLM – North Energy – slide 28
    Additional resources table Prospect/ Probability of Main Hydrocarbon Gross Mean Net Mean License Equity Area Lead Name Operator Success Phase Unrisked Risked aggregated mmboe mmboe Additional resources PL 498 25 % North Sea Vgen Lotos…
  29. STOCKHOLM – North Energy – slide 29
    Valberget high risk/high reward lead PL 503 in the North Sea Acquired 20091 Main prospect Valberget Operator Lotos (25%) Hydrocarbons Oil Partners 4sea energy/NE (25%) Expected drilling 2013 Edison Int. (25%) Prob. of success Lead…
  30. STOCKHOLM – North Energy – slide 30
    Omega additional Hammerfest basin prospectivity PL 518 B1 in the Barents Sea Awarded APA 2009 Main prospect Omega Operator DONG (40%) Hydrocarbons Oil Partners North Energy (30%) Expected drilling N/A Discover (20%) Prob. of success…
  31. STOCKHOLM – North Energy – slide 31
    Lepus potential play opener PL 5621 in the Norwegian Sea Awarded APA 2009 Main prospect Lepus Operator Dana Petroleum (30%) Hydrocarbons Oil w/gas cap Partners North Energy (10%) Expected drilling N/A E.ON Ruhrgas (20%) Prob. of success…
  32. STOCKHOLM – North Energy – slide 32

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