Q3 2015 IR Report Rig-less exploration and monitoring Steinar Bakke Oslo, 29-October-2015 Gunnar Dolven Stavanger, 30-October-2015
Agenda 1.Development Program - status 2.Partners 1.Statoil 2.CNPC-DR 3.Other 3.Industrial Partners 4.Financials 5.Outlook
Development Program Milestone 1 Milestone 1 in the Development Program is due December 2015. The projects included in Milestone 1 will ensure progress on critical areas in the Badger Explorer concept, and are important building blocks…
Solid State Locomotion system Project with CEDRAT BXPL has together with CEDRAT investigated the potential of using piezoelectric actuators to make a small step - high frequency inchworm locomotion solution. The first part of the…
Ultrasonic transducer for compaction Project with ETREMA BXPL are developing ultrasonic transducers primarily for the compaction system. Assembly of prototype is finished, initial testing is started. Some challenges with the Galfenol…
Cuttings transport system Project with Honeybee Robotics Honeybee Robotics is designing, building and testing a disc conveyor system for cuttings transport. Phase 2 of the project is on-going, where cuttings intake and discharge as…
Forward 2016 Milestone 2 outline presented to the sponsors BXPL has applied for one soft funding grant for 2016. FORNY2020 is a grant to prove concepts originating from universities and R&D institutes. BXPL have access to this…
Proposed Milestone 2 (Q2-2016) Milestone 2 Development Program Milestone HPHT Ultrasonic project: Design for piezoelectric ultrasonic transducer complete and approved HPHT function test of magnetostrictive transducers capability to…
Agenda 1.Development Program - status 2.Partners 1.Statoil 2.CNPC-DR 3.Other 3.Industrial Partners 4.Financials 5.Outlook
Partners Statoil BXPL signed contract for the first phase of Development Program 1.5 MNOK sign-on fee 6.0 MNOK for delivery of Milestone 1 (MS1) MS1 expected to be completed in December 2015 Revised transport system operated for…
Partners CNPC DR Meeting with CNPC-DR in Beijing on September 22de The below MoU was signed Memorandum of Understanding On September 22, 2015 CNPC-DR and BXPL conducted workshop/seminar at CNPC-DR HQ offices. It was agreed on the…
Partners CNPC DR The political situation is definitively what is holding the signature back This was confirmed in a meeting with the Norwegian Ambassador in Beijing on September 23de. The Ambassador has assisted us in opening the…
Other Petronas: Initial contact in 2010 Contact revitalized Q3-14, follow-up meeting in London Currently discussing physical meeting in Stavanger
Agenda 1.Development Program - status 2.Partners 1.Statoil 2.CNPC-DR 3.Other 3.Industrial Partners 4.Financials 5.Outlook
Industrial Partners Industrial Partner The dialog with the large international industry players is continuing at a high level
Agenda 1.Development Program - status 2.Partners 1.Statoil 2.CNPC-DR 3.Other 3.Industrial Partners 4.Financials 5.Outlook
Income Statement
Statement of Financial Position (I)
Statement of Financial Position (II)
Statement of Cash Flow
Misc Admin 2015 Cost cutting implemented Rental Staff External services etc. Further cost cut look at every item (EVRY cut by 50 %) Credit line with our bankers Secured public funding 2016 and beyond SkatteFunn RCN approval…
20 Largest Shareholders as of 30 September 2015
SkatteFUNN Approval 2015 - 2017
Agenda 1.Development Program - status 2.Partners 1.Statoil 2.CNPC-DR 3.Other 3.Industrial Partners 4.Financials 5.Outlook
Outlook The oil business is currently undergoing comprehensive changes and cost cuttings which also have a serious effect for BXPL. 2015 has to be completed at minimum cost. BXPL is confident that the agreed technical deliveries…
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