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NORTH ENERGY AT NORDIC ENERGY SUMMIT – North Energy

North Energy · Mar 28, 2012 · 18 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. NORTH ENERGY AT NORDIC ENERGY SUMMIT – North Energy – slide 1
    North Energy at Nordic Energy Summit Oslo, 28 March 2012
  2. NORTH ENERGY AT NORDIC ENERGY SUMMIT – North Energy – slide 2
    Important information This presentation and its appendices (together the Presentation) have been prepared and delivered by North Energy ASA (North Energy or the Company). The Presentation is prepared for information purposes only, and…
  3. NORTH ENERGY AT NORDIC ENERGY SUMMIT – North Energy – slide 3
    Introduction to North Energy Oil and gas company headquartered in Alta in Northern Norway Listed on Oslo Axess (ticker: NORTH) Market cap of USD 80 million 24 licenses offshore Norway, incl. 20% in the Norvarg discovery in the…
  4. NORTH ENERGY AT NORDIC ENERGY SUMMIT – North Energy – slide 4
    Strong exploration track record 20 largest discoveries on the NCS (2005 - 2012) Partner in two of the Discovery Area Million boe Operator Partners 20 largest finds 1 Johan Sverdrup North Sea 1 793 Lundin Statoil, Petoro, Det norske,…
  5. NORTH ENERGY AT NORDIC ENERGY SUMMIT – North Energy – slide 5
    Norvarg1 a major gas discovery Feasibility Conceptual Pre- Detailed Eng, Appraisal Production Studies Studies engineering Construction March 2012 BOK BOV PDO mmboe Increased expectations to Norvarg 600 Results from internal…
  6. NORTH ENERGY AT NORDIC ENERGY SUMMIT – North Energy – slide 6
    Strong financial capacity Successful share issue of NOK 150 million February 2012 Sale of the Fogelberg discovery for NOK 70 million February 20121 Exploration loan facility increased to NOK 950 million February 2012 Facility with…
  7. NORTH ENERGY AT NORDIC ENERGY SUMMIT – North Energy – slide 7
    New capital supports continued high activity level Proceeds from asset sale and share North Energys portfolio growth issue supports a strategy of a continued high activity level 6 Appraisal wells 25 Reduces overall risk 5…
  8. NORTH ENERGY AT NORDIC ENERGY SUMMIT – North Energy – slide 8
    Next eight wells financed1 1000 NOK 890 million raised including Capital raised, incl. proceeds from Fogelberg sale Capital invested 900 proceeds from the Fogelberg sale 800 NOK 497 million invested since start 700 up in 2007:…
  9. NORTH ENERGY AT NORDIC ENERGY SUMMIT – North Energy – slide 9
    Multiple potential value triggers going forward 2012 2013 August August Sept. Sept. Mars Mars June June Dec. Dec. Nov. Nov. April April Feb. Feb. May May Jan. Jan.…
  10. NORTH ENERGY AT NORDIC ENERGY SUMMIT – North Energy – slide 10
    PL 450 Storebjrn drilling ongoing 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…
  11. NORTH ENERGY AT NORDIC ENERGY SUMMIT – North Energy – slide 11
    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…
  12. NORTH ENERGY AT NORDIC ENERGY SUMMIT – North Energy – slide 12
    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…
  13. NORTH ENERGY AT NORDIC ENERGY SUMMIT – North Energy – slide 13
    PL 370 / 370 B Kakelborg drilling and development Exploration well spud May 2012 Rigg: Borgland Dolphin Optional production test (DST) Development 35 km Stand-alone FPSO if large Offshore loading of oil Fast track development…
  14. NORTH ENERGY AT NORDIC ENERGY SUMMIT – North Energy – slide 14
    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%…
  15. NORTH ENERGY AT NORDIC ENERGY SUMMIT – North Energy – slide 15
    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…
  16. NORTH ENERGY AT NORDIC ENERGY SUMMIT – North Energy – slide 16
    Outlook 6 months outlook Storebjrn exploration well in the North Sea Kakelborg exploration well in the North Sea Jette exploration well in the Norwegian Sea Decision on appraisal program for the Norvarg discovery Drill or drop…
  17. NORTH ENERGY AT NORDIC ENERGY SUMMIT – North Energy – slide 17
    Summary 40% success rate in first five wells Preparing critical appraisal well for Norvarg Balanced exploration portfolio with strong footprint in the Barents Sea Four firm exploration wells in 2012 Testing three pure oil…
  18. NORTH ENERGY AT NORDIC ENERGY SUMMIT – North Energy – slide 18
    Thank you for your attention North Energy ASA, Markedsgata 3, Alta, Norway. 18 Phone: (+47) 78 60 79 50 Fax: (+47) 78 60 83 50 E-Mail: postnorthenergy.no www.northenergy.no

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