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PARETO EP CONFERENCE – North Energy

North Energy · Jan 19, 2012 · 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. PARETO EP CONFERENCE – North Energy – slide 1
    North Energy at Pareto E&P conference London 19 January 2012
  2. PARETO EP CONFERENCE – North Energy – slide 2
    Agenda Introduction to North Energy Two discoveries Exploration update Financial update Outlook & Summary North Energy ASA, Markedsgata 3, Alta, Norway. 2 Phone: (+47) 78 60 79 50 Fax: (+47) 78 60 83 50 E-Mail:…
  3. PARETO EP CONFERENCE – North Energy – slide 3
    Introduction to North Energy Oil and gas company headquartered in Portfolio development, of licenses Alta in Northern Norway 25 Listed on Oslo Axess (ticker: NORTH) 14 Market cap of USD 50 million 8 25 licenses offshore Norway,…
  4. PARETO EP CONFERENCE – North Energy – slide 4
    Agenda Introduction to North Energy Two discoveries Exploration update Financial update Outlook & Summary North Energy ASA, Markedsgata 3, Alta, Norway. 4 Phone: (+47) 78 60 79 50 Fax: (+47) 78 60 83 50 E-Mail:…
  5. PARETO EP CONFERENCE – 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) DRILLED WELLS PL 433* Fogelberg 12%…
  6. PARETO EP CONFERENCE – North Energy – slide 6
    Fogelberg moving towards sanction Jan 2012 Feasibility Conceptual Detailed Engineering, Pre-engineering Production Production Studies Studies Construction, Start-up BOK BOV PDO Resource estimates by operator indicate…
  7. PARETO EP CONFERENCE – North Energy – slide 7
    Norvarg a major gas discovery Jan 2012 Feasibility Conceptual Pre- Detailed Eng, Appraisal Production Studies Studies engineering Construction BOK BOV PDO Increased expectations to Norvarg 600 volumes Results from internal…
  8. PARETO EP CONFERENCE – North Energy – slide 8
    A great day for Norvarg the day before yesterday Gassco, industry coordinator of all pipeline development in Norway, published a recommendation to the industry to extend the North Sea gas grid to the Barents Sea 17.01.12 North…
  9. PARETO EP CONFERENCE – North Energy – slide 9
    Positive regional effects of Norvarg Break through gas production test from the Kobbe formation Has lifted the potential in large areas towards the north and east Future exploration success depends on differentiating between…
  10. PARETO EP CONFERENCE – North Energy – slide 10
    Soaring interest for the Barents Sea With multiple large discoveries, Barents Sea wildcats the interest for exploration in 8 100% the Barents Sea is soaring 7 80% Average success rate Skrugard (160 - 250 million boe1) No.…
  11. PARETO EP CONFERENCE – North Energy – slide 11
    Strong position in new growth area In competition with 25 'old' and Company BARENTS SEA PLAYERS Licenses km2 'new' players in the Barents 1 2 Statoil Petoro 23 20 4 746 2 553 Sea, North Energy has built up 3 4 RWE Dea GDF…
  12. PARETO EP CONFERENCE – North Energy – slide 12
    Agenda Introduction to North Energy Two discoveries Exploration update Financial update Outlook & Summary North Energy ASA, Markedsgata 3, Alta, Norway. 12 Phone: (+47) 78 60 79 50 Fax: (+47) 78 60 83 50 E-Mail:…
  13. PARETO EP CONFERENCE – North Energy – slide 13
    License map Partner in 25 licenses Barents Sea (8) Mid Norwegian Sea (9) North Sea (8) Two operatorship in the Mid - Norwegian Sea Two awards in APA 2011 (Application of Pre-defined Areas) North Energy ASA, Markedsgata…
  14. PARETO EP CONFERENCE – North Energy – slide 14
    PL 450 Storebjrn oil prospect PL 450 in the North Sea Acquired 2011 Main prospect Storebjrn Operator Det norske (60%) Hydrocarbons Oil Partners North Energy (15%) Drilling Spud Jan 12 Dana Petroleum (25%) PoS 49% Gross mean 141…
  15. PARETO EP CONFERENCE – North Energy – slide 15
    Storebjrn is one of the few remaining undrilled classical pods in the Southern North Sea Second highest POS (49%) in North Energys portfolio (Fogelberg at 57% was a discovery) Located between producing fields Tambar and Ula and…
  16. PARETO EP CONFERENCE – 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. PARETO EP CONFERENCE – North Energy – slide 17
    PL 450 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 to…
  18. PARETO EP CONFERENCE – North Energy – slide 18
    PL 370 / PL 370B 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. PARETO EP CONFERENCE – North Energy – slide 19
    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 lithology Rock…
  20. PARETO EP CONFERENCE – North Energy – slide 20
    Two proven reservoir models and two chances in PL 370 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. 20 Phone: (+47) 78…
  21. PARETO EP CONFERENCE – North Energy – slide 21
    Drilling and Development of Kakelborg Exploration well spud April 2012 Rigg: Borgland Dolphin Optional production test (DST) Development 35 km Stand-alone FPSO if large Offshore loading of oil Fast track development to spare…
  22. PARETO EP CONFERENCE – North Energy – slide 22
    PL 385 Jette drilling expected mid 2012 PL 385 in the Norwegian Sea Aquired 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. PARETO EP CONFERENCE – North Energy – slide 23
    PL 498 Skagen drilling in 2012 PL 498 in the North Sea Aquired 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. PARETO EP CONFERENCE – North Energy – slide 24
    Exploration track record and outlook North Energy ASA, Markedsgata 3, Alta, Norway. 24 Phone: (+47) 78 60 79 50 Fax: (+47) 78 60 83 50 E-Mail: postnorthenergy.no www.northenergy.no
  25. PARETO EP CONFERENCE – 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. 25 Phone: (+47) 78 60 79 50…
  26. PARETO EP CONFERENCE – North Energy – slide 26
    2012 Drilling activity and Drill or Drop decisions Four wells to be drilled in 2012 Starting Jan 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. PARETO EP CONFERENCE – North Energy – slide 27
    Agenda Introduction to North Energy Two discoveries Exploration update Financial update Outlook & Summary North Energy ASA, Markedsgata 3, Alta, Norway. 27 Phone: (+47) 78 60 79 50 Fax: (+47) 78 60 83 50 E-Mail:…
  28. PARETO EP CONFERENCE – North Energy – slide 28
    Net cash according to plan Net cash position as of Q3 2011 31 Net cash position of NOK 238 million as per Q3 2011 363 450 NOK 310 million undrawn of NOK 760 238 million exploration 350 financing facility Developing in…
  29. PARETO EP CONFERENCE – North Energy – slide 29
    Agenda Introduction to North Energy Two discoveries Exploration update Financial update Outlook & Summary North Energy ASA, Markedsgata 3, Alta, Norway. 29 Phone: (+47) 78 60 79 50 Fax: (+47) 78 60 83 50 E-Mail:…
  30. PARETO EP CONFERENCE – North Energy – slide 30
    Outlook 6 months outlook Storebjrn exploration well in North Sea Kakelborg exploration well in the North Sea Decision on appraisal program for Norvarg Drill or drop decision on operated licenses 526 and 590 in the Norwegian Sea…
  31. PARETO EP CONFERENCE – North Energy – slide 31
    Summary Strong track record after 5 wells Two promising discoveries Exploration portfolio with strong footprint in the Barents Sea 4 firm exploration wells in 2012 Oil prospects close to infrastructure North Energy ASA,…
  32. PARETO EP CONFERENCE – North Energy – slide 32
    Thank you for your attention North Energy ASA, Markedsgata 3, Alta, Norway. 32 Phone: (+47) 78 60 79 50 Fax: (+47) 78 60 83 50 E-Mail: postnorthenergy.no www.northenergy.no

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