Strategy Exploration Led Growth Significant acreage positions with technical and commercial value Range of opportunities with appropriate spectrum of risk Focus on Create Material discoveries monetisation of Value and prospectivity…
Finance 2015 Cashflow USm Pre-award costs and E&A capex 869 114 106 24 15 114 52 603 55 Opening cash Senegal UK/Norway Other Development Farm-down Norway tax Admin, Closing cash proceeds rebate financial, FX 7…
Finance Group Funding to End 2017 USm Existing sources of capital Current uses of capital 260 33 603 135 465 Opening cash Norwegian RBL 2017 Operating UK development Committed Discretionary tax receivable availability…
Finance Committed Capital Expenditure Committed forecast E&A expenditure: 135m 2016 / 2017 Catcher and Kraken forecast development expenditure: 465m 10m 25m 115m 100m 350m 2016: 230m 2017: 235m Senegal UK & Norway Other…
Finance Kraken - On Track and Driving Down Capex First oil H1 2017*, plateau production 50,000 boepd Batch drilling programme ahead of schedule; reservoir quality and injectivity tests at or above expectations 2015 subsea installation…
Finance Catcher - Significant Progress and Under Budget First oil H2 2017*, plateau production 50,000 boepd Development drilling commenced mid 2015, three wells completed confirming reservoir characteristics and productivity at or…
Finance Robustly Positioned in a Low Oil Price World Reported administrative costs reduced 50% to US30m, recurring cash administrative costs for 2015 US11m Active portfolio management and capital programme flexibility: Catcher farm…
Exploration and Appraisal Senegal Overview Cairn (Operator) 40%, Two Basin-opening discoveries in 2014; FAN-1 and SNE-1 ConocoPhillips 35%, 3 year evaluation plan underway 2,500 km2 3D seismic FAR 15%, acquired. Appraisal drilling…
Exploration and Appraisal - Senegal Evolution of SNE Discovery Volumes Pre Drill Post SNE-1 Post SNE-2 (October 2014) (March 2015) (February 2016) Mean Prospective Resource 2C Contingent Resource 2C Contingent Resource 185 mmbbls…
Exploration and Appraisal - Senegal Evaluation Programme: Outline and Progress 2,500 km2 3D seismic BEL-1 SNE-2 SNE-1 SNE-3 3 firm wells + further wells N Currently Operating S Evaluate the full block Bellatrix potential,…
Exploration and Appraisal - Senegal SNE-1 : Review, Initial Resources and Updates Dual target well Albian clastics and Aptian NW A SNE-1 A SE carbonates Oil and gas discovered 2C resource 330mmbbls Reservoirs Upper and Lower units…
Exploration and Appraisal - Senegal SNE-2 : Results and Impact Crest of field location 2,677m Depth conversion confirmed well on prognosis Sand quality and correlation confirmed Upper and Lower reservoirs Oil quality confirmed…
Exploration and Appraisal - Senegal SNE-3 : Results and Impact DST 1a max 5,400 bopd SNE-2 SNE-1 SNE-3 Main flow 4,000 bopd Gas Cap 15m interval Oil Column DST 1b combined max flow 5,200 bopd Main flow 4,500 bopd 15 + 5.5m…
Exploration and Appraisal - Senegal BEL-1 : Update and Aims Currently operating Combined Exploration and Appraisal targets Bellatrix Exploration BEL-1 Primary objective shallower targets 0 1 2 3 Mean prospective resource km…
Exploration and Appraisal - Senegal Exploration Potential Multiple prospects in multiple plays matured on 2007 3D seismic reprocessed to PSDM in 2015 High quality reservoirs like SNE New 3D seismic Impact of SNE appraisal wells…
Exploration and Appraisal - Senegal Senegal Forward Programme Evaluation programme aims to confirm volumes, connectivity and productivity Preliminary foundation development concept for SNE Standalone FPSO with expansion capability…
Exploration and Appraisal Norway and UK : Developments and Exploration Norway Skarfjell (20% Cairn) early stage Norwegian Sea 23rd Round core area development planning Exploration Exploration Post-APA 2015: six Multiple…
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