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FEBRUARY 2012 INVESTOR PRESENTATION – North Energy

North Energy · Feb 9, 2012 · 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. FEBRUARY 2012 INVESTOR PRESENTATION – North Energy – slide 1
    NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES North Energy Company presentation 9 February 2012
  2. FEBRUARY 2012 INVESTOR PRESENTATION – North Energy – slide 2
    Agenda Introduction to North Energy Two discoveries Exploration update Financial update Outlook & Summary North Energy ASA, Markedsgata 3, Alta, Norway. 3 Phone: (+47) 78 60 79 50 Fax: (+47) 78 60 83 50 E-Mail:…
  3. FEBRUARY 2012 INVESTOR PRESENTATION – North Energy – slide 3
    Introduction to North Energy Oil and gas company headquartered in Portfolio development, of licenses Alta in Northern Norway 24 Listed on Oslo Axess (ticker: NORTH) 14 Market cap of USD 50 million 8 24 licenses offshore Norway,…
  4. FEBRUARY 2012 INVESTOR PRESENTATION – North Energy – slide 4
    Agenda Introduction to North Energy Two discoveries Exploration update Financial update Outlook & Summary North Energy ASA, Markedsgata 3, Alta, Norway. 5 Phone: (+47) 78 60 79 50 Fax: (+47) 78 60 83 50 E-Mail:…
  5. FEBRUARY 2012 INVESTOR PRESENTATION – North Energy – slide 5
    Strong track record and exciting outlook PROSPECTS PRE-DRILL ESTIMATES POST-DRILL ESTIMATES License Prospect Equity Gross POS Net risked Well result Gross Net interest unrisked (P50) (P50) PL 4331 DRILLED WELLS Fogelberg 12%…
  6. FEBRUARY 2012 INVESTOR PRESENTATION – North Energy – slide 6
    Fogelberg discovery sold for NOK 70 million Fogelberg discovery sold to Centrica for NOK 70 million North farmed into the license prior to the discovery in 2010 The timing is right for North to monetize Fogelberg PDO is expected to…
  7. FEBRUARY 2012 INVESTOR PRESENTATION – North Energy – slide 7
    Norvarg a major gas discovery Feasibility Conceptual Pre- Detailed Eng, Appraisal Production Studies Studies engineering Construction Jan 2012 BOK BOV PDO mmboe Increased expectations to Norvarg 600 Results from internal…
  8. FEBRUARY 2012 INVESTOR PRESENTATION – North Energy – slide 8
    Positive signals for Norvarg last month Gassco1 published a study in January recommending an extension of the North Sea gas grid to the Barents Sea North Energy preliminary calculations indicates reduced commercial threshold…
  9. FEBRUARY 2012 INVESTOR PRESENTATION – North Energy – slide 9
    Positive regional effects of Norvarg Break through gas production test from the Kobbe formation Has lifted the potential in large Norvarg areas towards the north and east Future exploration success depends on differentiating…
  10. FEBRUARY 2012 INVESTOR PRESENTATION – North Energy – slide 10
    Soaring interest for the Barents Sea With multiple large discoveries, the interest for exploration in Barents Sea wildcats the Barents Sea is soaring 8 100% 7 Skrugard (160 - 250 million boe1) 80% Average success rate No. of…
  11. FEBRUARY 2012 INVESTOR PRESENTATION – North Energy – slide 11
    Strong position in new growth area In competition with 25 'old' and BARENTS SEA PLAYERS 'new' players in the Barents 1 Company Statoil Licenses 23 km2 4 746 Sea, North Energy has built up 2 3 Petoro RWE Dea 20 11 2 553…
  12. FEBRUARY 2012 INVESTOR PRESENTATION – North Energy – slide 12
    Agenda Introduction to North Energy Two discoveries Exploration update Financial update Outlook & Summary North Energy ASA, Markedsgata 3, Alta, Norway. 13 Phone: (+47) 78 60 79 50 Fax: (+47) 78 60 83 50 E-Mail:…
  13. FEBRUARY 2012 INVESTOR PRESENTATION – North Energy – slide 13
    License map Partner in 24 licenses post Fogelberg sale Barents Sea (8) Norwegian Sea (8) North Sea (8) Two operatorships in the Norwegian Sea Two awards in APA1 2011 PL 656 in the Norwegian Sea PL 616 in the North Sea 1)…
  14. FEBRUARY 2012 INVESTOR PRESENTATION – North Energy – slide 14
    PL 450 Storebjrn high POS oil prospect PL 450 in the North Sea Acquired 2011 Main prospect Storebjrn Operator Det norske (60%) Hydrocarbons Oil Partners North Energy (15%) Drilling Ongoing Dana Petroleum (25%) PoS 49% Gross mean…
  15. FEBRUARY 2012 INVESTOR PRESENTATION – North Energy – slide 15
    PL 450 Storebjrn one of the few remaining undrilled classical pods in the Southern North Sea Second highest POS (49%) in North Energys current and past exploration portfolio Only next to Fogelberg which came in as a discovery…
  16. FEBRUARY 2012 INVESTOR PRESENTATION – North Energy – slide 16
    PL 450 Storebjrn two reservoirs and two chances with surrounding discoveries in both Same two reservoirs as Tambar Same source kitchen Storebjrn Similar trap concept Gyda Tambar Storebjrn Tambar Storebjrn Tambar Ula…
  17. FEBRUARY 2012 INVESTOR PRESENTATION – North Energy – slide 17
    PL 450 Storebjrn fast track development through infrastructure with spare capacity Drilled by Mrsk Guardian Close to existing infrastructure 8 km to Ula field Subsea wells tied in to Ula Oil export through pipeline via Ekofisk…
  18. FEBRUARY 2012 INVESTOR PRESENTATION – North Energy – slide 18
    PL 370 / 370 B Kakelborg drilling Q2 2012 PL 370 / PL 370 B in the North Sea Acquired 2011 Main prospect Kakelborg Operator Wintershall (40%) Hydrocarbons Oil Partners North Energy (10%) Expected drilling Q2 2012 Agora (30%) PoS…
  19. FEBRUARY 2012 INVESTOR PRESENTATION – North Energy – slide 19
    PL 370 / 370 B Kakelborg prospect display Kakelborg reservoir 33/5-2 33/6-4 anomaly Seismic anomalies known to indicate oil and/or gas Classical type III anomaly Inversion responses of Kakelborg ratio suggest a sandy…
  20. FEBRUARY 2012 INVESTOR PRESENTATION – North Energy – slide 20
    PL 370 / 370 B Kakelborg two proven reservoir models and two chances 33/6-4 33/5-2 HC shows in well 33/5-2 Valid traps on both levels Kakelborg anomaly PL 370 PL 370B N North Energy ASA, Markedsgata 3, Alta, Norway. 21…
  21. FEBRUARY 2012 INVESTOR PRESENTATION – North Energy – slide 21
    PL 370 / 370 B Kakelborg drilling and development Exploration well spud April 2012 Rigg: Borgland Dolphin Optional production test (DST) Development Stand-alone FPSO if large 35 km Offshore loading of oil Fast track development…
  22. FEBRUARY 2012 INVESTOR PRESENTATION – North Energy – slide 22
    PL 385 Jette drilling expected mid 2012 PL 385 in the Norwegian Sea Acquired 2009 Main prospect Jette Operator Statoil (45%) Hydrocarbons Gas cond. Partners North Energy (35%) Expected drilling Q2/Q3 2012 Noreco (20%) PoS 37% Gross…
  23. FEBRUARY 2012 INVESTOR PRESENTATION – North Energy – slide 23
    PL 498 Skagen drilling in 2012 PL 498 in the North Sea Acquired 2009 Main prospect Skagen Operator Lotos (25%) Hydrocarbons Oil Partners North Energy (25%) Expected drilling 2012 Edison Int. (25%) PoS 36% Skagen 44 (25%) Gross mean…
  24. FEBRUARY 2012 INVESTOR PRESENTATION – North Energy – slide 24
    Exploration track record and outlook North Energy ASA, Markedsgata 3, Alta, Norway. 25 Phone: (+47) 78 60 79 50 Fax: (+47) 78 60 83 50 E-Mail: postnorthenergy.no www.northenergy.no
  25. FEBRUARY 2012 INVESTOR PRESENTATION – North Energy – slide 25
    Drilling program with timing uncertainties in 2012 Storebjrn Kakelborg Skagen Jette Norvarg appraisal 2011 I 2012 I 2013 Oil Gas-Condensate North Energy ASA, Markedsgata 3, Alta, Norway. 26 Phone: (+47) 78 60 79 50…
  26. FEBRUARY 2012 INVESTOR PRESENTATION – North Energy – slide 26
    2012 drilling activity and Drill or Drop decisions Four wells to be drilled in 2012 Starting January 2012 with PL 450 Storebjrn Four drill or drop decisions in early 2012 PL 536 PL 564 PL 526 PL 590 Drill or Drop decision…
  27. FEBRUARY 2012 INVESTOR PRESENTATION – North Energy – slide 27
    Agenda Introduction to North Energy Two discoveries Exploration update Financial update Outlook & Summary North Energy ASA, Markedsgata 3, Alta, Norway. 28 Phone: (+47) 78 60 79 50 Fax: (+47) 78 60 83 50 E-Mail:…
  28. FEBRUARY 2012 INVESTOR PRESENTATION – North Energy – slide 28
    Financial capacity improved in 2012 Sale of Fogelberg adds NOK 70 million of cash to the balance sheet Exploration loan facility increased to NOK 950 million Facility with DNB, SEB and BNP Paribas Contemplated equity issue of up…
  29. FEBRUARY 2012 INVESTOR PRESENTATION – North Energy – slide 29
    Net cash according to plan Net cash position Q4 2011 -67 Net cash position of NOK 173 million1 -348 Unused exploration loan 554 facility of NOK 412 million 173 Developing in line with 34 funding plans at the IPO Cash…
  30. FEBRUARY 2012 INVESTOR PRESENTATION – North Energy – slide 30
    Agenda Introduction to North Energy Two discoveries Exploration update Financial update Outlook & Summary Risk Factors North Energy ASA, Markedsgata 3, Alta, Norway. 31 Phone: (+47) 78 60 79 50 Fax: (+47) 78 60 83 50 E-Mail:…
  31. FEBRUARY 2012 INVESTOR PRESENTATION – North Energy – slide 31
    Outlook 6 months outlook Storebjrn exploration well in the North Sea Kakelborg exploration well in the North Sea Decision on appraisal program for the Norvarg discovery Drill or drop decision on operated licenses PL 526 and PL 590…
  32. FEBRUARY 2012 INVESTOR PRESENTATION – North Energy – slide 32
    Summary 40% success rate in first five wells Sale of the Fogelberg discovery for NOK 70 million Balanced exploration portfolio with strong footprint in the Barents Sea Four firm exploration wells in 2012 Testing three oil…
  33. FEBRUARY 2012 INVESTOR PRESENTATION – North Energy – slide 33
    Risk Factors Investing in the shares issued by North Energy involves inherent risks. An investor should consider carefully all of the information set forth in this Presentation, and in particular, the specific risk factors set out…
  34. FEBRUARY 2012 INVESTOR PRESENTATION – North Energy – slide 34
    Risk Factors (continued) Changes in the legislative and fiscal framework may affect profitability Changes in the legislative and fiscal framework governing the activities of the companies engaged within the oil and gas sector may have…

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