Det norske oljeselskap ASA covers all of Norway Det norske License trade E&P E&P Exploration Stavanger Oslo Trondheim Harstad 3 employees 25 employees 43 employees 10 employees
Present Situation 97,5% Merger process initiated
During 2008 Merger expected to be completed in April 2008 DNO International ASA to be diluted below 25% no later than December 2008
Management CEO Erik Haugane CFO/IR HSE *Quarantined to Paul Hjelm Hansen Anita Utseth* ultimo March 08 G&G. advisor Bus. dev. Sigmund Hanslien Vidar B. Larsen VP. Technology Exploration Man. Discovery Man. VP Drilling and…
Finance and Accounting Det norske has converted all accounting to IFRS in record time Bank facility of 1,5 billion NOK will cover exploration engagements throughout 2009 Development investments to be covered by - lease…
Summary of Q3 Financial Position (unaudited) MNOK / % Det norske ASA NOIL Energy ASA Consolidated IFRS IFRS pro forma IFRS Equity 787.4 672.8 3 368.8 Equity ratio 74 42 54 Interest-bearing debt 0 500.5 *) 328.1 Cash and equivalents…
38 Licences, 18 Operated 3 producing fields generating 2,000 boepd Varg (5%), Glitne (10%) and Enoch (2%) 8 discoveries and 3 field developments Yme (10%), Fry (50%), and Goliat (15%) Expected production of close to 30,000 boe/day…
Det norske is positioned as the Norwegian no 2 No of Operatorships on the NCS
Area focus on Fry to enhance value Det norske owns 50% in Fry and has equity in 3 licenses within the circle The Fry PDO will target 60 MBO PL 364 is likely to produce100 millions bbls, total production within circle in the…
Fry the Platform for a Larger Production 100 MBO Upside potential. inside the Top Updip of license Reservoir twt waterbearing 2-14 well A- 6 Segment Segment 7, 3.3 5, 0.1 Segment Segment 1, 14.2 4, 16.8 Southeast…
Goliat largest oil discovery in the Barents Sea 5 wells drilled discovered 2000 Hydrocarbons in four reservoirs Several compartments or segments Central Segment Complex reservoir and fluid systems Main Segment Several horizontal…
Storskrymten Oil in Ty sand (10 MBO) and Heimdal sand (40 MBO) Thickness of Heimdal uncertain Oil in Heimdal fm is promising for the Paleocene prospects in PL 408 Additional exploration or an appraisal well Oil in good Spill…
RagnarrockPL 265 Block 16/2 Licensees Statoil (op) 30%, Det norske 30%, Petoro 30%, Talisman 10% Water Depth 113 m Exploration / Appraisal wells : 16/2-1 1967 TD 1906m RKB Oil discovery in chalk, shows in Basement (drilled in PL…
Discoveries and Upside Potential Only Yme and Fry is decided for development
Rig Secured for an Extensive Programme Approved by License Decided by Operator Pending Optional Det norskes operated exploration wells only
Strategic Farm-in PL 027B Eitri/Phi PL027B Det norske oljeselskap Eitri prospect 25% PL027B Ty sand (same as Ringhorne, which is in ExxonMobil (operator) production) 25%, 40 MBO recoverable Dana Petroleum Phi prospect (target…
Ambitions Maintain and develop the position as one of the most successful Norwegian exploration companies Recent exploration success with Ragnarrock and Storskrymten discoveries (50 MBO net) Ongoing exploration campaign targeting 20…
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