Q2/1H 2013 Investor Presentation Rig-less exploration and monitoring David Blacklaw CEO Oslo, 23-August-2013 Gunnar Dolven - CFO Stavanger, 26-August-2013 1
Disclaimer This presentation includes forward-looking statements which are subject to risks and uncertainties that could cause actual results and events to differ. Even though the Company believes that the expectations reflected…
Agenda I. Summary and Update II. Development Program III. Markets and Applications IV. Financials V. Outlook 3
What Badger Explorer ASA Will Deliver Badger Explorer ASA is developing a patented concept to explore and monitor the subsurface without the need for conventional drilling rigs The Badger tool drills autonomously, carries advanced…
Increase in Effectiveness of the Exploration Budget In target applications, Badger provides significant economic benefits Subsurface exploration data can be acquired by the Lower exploration risk/cost Badger Explorer rather than…
Highlights and Update (1) New CEO Steinar Bakke Appointed Hand-over already started; will be completed during September Broad experience over 40 years of both large and small organizations, including drilling-related start-ups,…
Highlights and Update (2) Badger Demonstrator Program New Sponsors Monthly Progress Reports to Sponsors issued on schedule Updates with both XOM and CVX in Houston during July All sponsors informed of change in CEO ExxonMobil…
Highlights and Update (3) Beta Tool Build is on Track HPU (Mechanical hardware project) PGS (Pressure Generation Sub) LHC (Local Hydraulic Controller) Local Hydraulic Control System (Electronics control circuits and associated…
Agenda I. Summary and Update II. Development Program III. Markets and Applications IV. Financials V. Outlook 9
Development Program, Overview Concept Declaration of demonstrated commercial product 1 2 3 Prototype phase Pre-commercial phase Commercial sales Milestone 1 Milestone 2 Milestone 3 BE Demonstrator Sale and delivery of…
Agenda I. Summary and Update II. Development Program III. Markets and Applications IV. Financials V. Outlook 11
Field Pilot Program: Establish Commercial Applications 3 Commercial phase Field Pilots establish basis for commercial applications Delivery Value Proposition Objectives Technical Challenges Commercial Activity FPP 1: 2015 Validate…
Badger Explorer Field Pilot 13
Early commercial applications 3 Commercial sales De-Risking Calibration of Surface In-fill exploration Shallow Hazards Subsurface Monitoring Exploration Seismic from Existing Wells Badger Explorer augments or Badger Explorer…
Agenda I. Summary and Update II. Development Program III. Markets and Applications IV. Financials V. Outlook 15
Calidus Engineering Ltd./Severn Subsea Technologies Ltd. 1H 2013 1H 2012 2012 Turnover MNOK 8.8 6.9 13.2 BXPL Turnover MNOK 5.6 1.7 5.7 EBT MNOK -2.4 -0.8 -2.5 Equity Ratio 22.4% 37.5% 31.7% Deliveries to BXPL at high level…
BXPL Group: Consolidated Income Statement 17
BXPL Group: Consolidated Statement of Financial Position I 18
BXPL Group: Consolidated Statement of Financial Position II 19
BXPL Group: Consolidated Cash Flow Quarters Year to date Year end Unaudited figures in NOK 1000 2Q 2013 1Q 2013 2Q 2012 Note 30.06.2013 30.06.2012 31.12.2012 Contribution from operations* -5,450 -5,365 -4,168 -10,816 -8,815 -15,969…
Company Structure and Financials: Spending/Investment Capitalised developments costs Badger Explorer has funded its operations through a) equity issues, b) oil company partner funding and c) various government grants 75 MNOK was…
Funding 2013/2014 2H2013 Cash Balance 30.06.2013 (including the net sale consideration of CEL) 26.1 MNOK Badger Demonstrator program, Milestone 3 15.2 MNOK Innovasjon Norge AS (IN) 3 MNOK SkatteFUNN 2 MNOK Research Council of…
20 Largest Shareholders as of 30-June-2013 810 shareholders as of 30-Jun-2013 63.77 % Norwegian shareholders 20 largest shareholders held 71.63% Primary insiders held 7.4% 23
Agenda I. Summary and Update II. Development Program III. Markets and Applications IV. Financials V. Outlook 24
Outlook Four strong sponsors Funding Access to world-class expertise Technical focus is on completing the Beta Tool design and build (M3), ready to start testing in Q4 Incorporate design improvements from Structured Evaluation…
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