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 Substantial potential being…
Faroes growth model Building core value and scale Maintain significant portfolio of Prospective Resources Participate in Licence Rounds excellent track record of awards Proactive approach to farm-ins/farm-outs Grow 2C Contingent…
Robust company going forward Faroe well positioned to grow in lower oil price environment Financially robust Cash on the balance sheet (91m at 31 Dec-15) Significant head-room in existing debt facilities Material cost reductions…
Exploration and appraisal Drilling programme: E&A continuing - benefiting from lower costs in 2016 All near term exploration wells are in Norway benefiting from 78% tax rebate incentive Several prospects identified for possible 2017…
Exploration/appraisal Kvalross frontier exploration well currently drilling PL611 - Faroe 40% - 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 The Brage area Very prospective area Contains the giant Oseberg field and large oil fields such as Brage and Veslefrikk Krafla is a recent exploration…
Exploration and appraisal Njord North Flank exploration well expected in Q3 2016 The Njord area Very prospective area Contains the Njord field and Draugen field Snilehorn, Pil, Bue and Boomerang are recent exploration successes…
Producing and Development 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 North Sea Wintershall-operated 2P…
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…
Greater Njord Area (Norway) Strategic position Njord, Hyme and Snilehorn: Njord and Hyme producing in excess of forecast but declining due to drill stop Facility needs lifetime extension - tow-to-shore in summer 2016 Njord Future…
Contingent Resources Converting 2C Contingent Resources to 2P Reserves Faroe Observations 2C Resources (1 Jan-16) Field WI Operator Others Bue and Boomerang 25% VNG 2014 and 2015 discoveries (Norway) Being matured to concept…
2015 / 2016 Financials Highlights Production 2015 economic production* approximately 10,530 boepd 2016 production expected to be 7-9,000 boepd (approximately 55% liquids and 45% gas) 2016 gas hedging: 65% of gas production hedged at…
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 production Balanced portfolio…
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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