Faroe overview Introduction Faroes exploration-led and production-backed strategy is delivering exceptional results Material exposure to Norwegian exploration upside - benefiting from tax refund incentive Continuing exploration…
Faroes growth model Prospective to 2C contingent to 2P reserves value realisation 1 bn boe* 109 mmboe* 30.6 mmboe* Prospective 2C resources 2P reserves un-risked resource * 31 December 2014 discoveries FDP and deals…
Robust company going forward Faroe well positioned to grow in lower oil price environment Financially robust Cash on the balance sheet (105m at 30 June 2015) Significant head-room in existing debt facilities Material cost reductions…
Exploration and appraisal Drilling programme: E&A continuing - benefiting from lower costs in 2016 Prospect Equity 2015 2016 Q3 Q4 Q1 Q2 Q3 Q4 Boomerang (Pil follow up well) *** 25,0% Portrush *** 20,0% Blink (Pil follow up well) ***…
Exploration and appraisal Significant Pil, Bue and Boomerang discoveries (Norway) 2014 Pil and Bue discoveries Faroe 25% Significant success - gross columns ca 135m oil & 91m gas Zircon Flowed at stable rate 6,710 bopd of 37 API oil,…
Exploration/appraisal Kvalross frontier exploration well scheduled for 2016 Faroe 40% - PL611 - Wintershall operator Awarded in May 2011 in the Norwegian 21st Licensing Round Located in the Barents Sea to the south of OMVs significant…
Exploration and appraisal Brasse near field exploration well - expected 2016 PL740 Brasse prospect near the Brage field The Brage area Very prospective area Contains the giant Oseberg field and large oil fields such as Brage and…
Exploration and appraisal Njord North Flank exploration well expected in Q3 2016 PL107C Njord North Flank prospect north of the Njord field The Njord area Very prospective area Contains the Njord field and Draugen field Njord…
Producing assets Building production base and growing reserves Diversified production base with infill and near-field upside potential to boost production Brage Oil field in Norwegian Sea Wintershall-operated 2P Reserves (1 Jan-15)…
Production Blane (UK) consolidated position Acquisition of Roc Oil UK announced on 1 September 2015 Faroe to hold 30.5% of Blane (pre-acquisition 18%) and 13.86% of Enoch (Pre-Acquisition interest 1.86%) Consideration of 17million,…
Greater Njord Area (Norway) Strategic position Njord and Hyme: Currently producing in excess of forecast Njord A facility needs lifetime extension to exploit existing and new resources in area - scenarios under assessment Suspension…
Contingent Resources Converting 2C Contingent Resources to 2P Reserves Faroe Observations 2C Resources (1 Jan-15) Field WI Operator Others Butch 15% Centrica Lowlander/Perth/Dolphin (Norway) 2011 discovery Butch (N) (UK) Concept…
Butch (Norway) Excellent value creation opportunity Butch discovery (Faroe 15%) Southern North Sea; 66m water depth Close to infrastructure: Ula and Gyda Excellent quality reservoir, light oil Centrica operator Development project…
2015 Interim results Financial highlights Interim results for six months ended 30 June 2015 (unaudited) Turnover 55.3m (1H 2014: 53.5m) adjusted revenue (post under lifts/over-lifts) 67.9m (1H 2014: 40.1m) Production of 10,971 boepd…
Summary and outlook Solid and proven business model delivering sustainable value growth, through drill-bit and transactions Exploration-led strategy continues to deliver material success, underpinned by strong cash flow Balanced…
Executive team Graham Stewart Helge Hammer Jonathan Cooper Chief Executive Officer Chief Operating Officer Chief Financial Officer Instrumental in founding Faroe Joined Faroe Petroleum in 2006 Joined Faroe Petroleum as Chief…
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