Introduction Faroes consistent strategy to grow reserves & resources is delivering results Significant success achieved with the drill bit, coupled with a substantial increase in 2P reserves and 2C resources Production base…
Highlights recent exploration success Three successful discoveries Snilehorn well 57101 million bbl (gross) Pil well production test underway Hyme / Rodriguez well currently being appraised by the Solberg well Snilehorn Njord…
Highlights growth in portfolio, 2P and 2C Continued success in building exploration portfolio APA awards 18 awards since January 2013 22nd Round award Iceland award Maximising potential through balanced portfolio Seven further E&A…
Pil oil and gas discovery DST underway PL586, Faroe 25%, VNG operator Gross columns of ca 135 metres of oil and 91 metres of gas Reservoir sands with a very high net to gross ratio Drill Stem Testing underway to acquire fluid…
Pil follow up substantial upside to be tested Further potential upside additional prospects on block, identified along the prospective fault margin Halten Draugen Terrace basins Frya High Likely Pil followup well with Transocean…
Snilehorn significant oil discovery PL348, Faroe 7.5%, Statoil operator Snilehorn building on success of Hyme (3.5 years from discovery to production) Satellite development opportunity to Hyme (4 km) Recoverable resource…
Solberg: appraisal well ongoing PL475, Faroe 20%, Wintershall operator Gas condensate discovery announced January 2013 Significant further upside in PL590 and in PL475 Spudded February 2014 with Borgland Dolphin Substantial carry…
Butch: two nearfield exploration wells ongoing Butch discovery November 2011 PL405, Faroe 15%, Centrica operator 66m water depth, close to infrastructure Ula and Gyda Excellent quality reservoir, light oil Butch already commercial…
Drilling programme outlook Continuous drilling: targeting 45 highimpact, wells per annum Balance of: Lowrisk, high potential value, nearfield exploration wells Potential company maker frontier exploration wells (West of Shetlands…
Converting contingent resources into reserves Maximise project values through lowcost predevelopment activities Field WI Operator Faroe Observations Snilehorn 7.5% Statoil 2013 discovery (Norway) Further appraisal may be required…
Perth and Lowlander presanction project Faroe acquired 100% of Lowlander in two separate transactions in 2013 Faroe and Parkmead plan to bring Perth and Lowlander to development as a joint project sharing the same facilities…
Producing assets Diversified production base with infill and nearfield upside potential to boost production Brage Oil field in Norwegian North Sea Wintershall operated Njord Area (Faroe: 14.25%) Infill programme underway Two wells being…
Producing assets Greater Njord Area Longterm growth potential despite temporary Njord shutin Asset overview Snilehorn Draugen Hyme Faroe acquired 7.5% working interest in 2011; producing since 1997, Statoil operated Njord Hyme…
Highlights outlook Multiple opportunities for stepchange in value growth ahead Exciting exploration and appraisal continues with significant programme 2014 well programme capex approx. 135 million 110 million on exploration…
Summary Solid and proven business model delivering sustainable value growth, principally through drillbit Worldclass technical team Explorationled strategy with strong focus on high impact opportunities in Northern Seas (Norway and…
Executive team Graham Stewart Chief Executive Instrumental in founding Faroe Petroleum in 1998 Over 25 years experience in oil and gas technical and commercial affairs Previously finance director and commercial director at Dana…
Appendices 20
Faroe overview Explorationled and productionbacked E&P company Faroe has built the largest acreage position in Norway of any UK independent, and also has major frontier position Faroe has an excellent track record of success…
Consistent and proven strategy Exploration Target 45 material wells per year High Impact near field and frontier Leverage competitive edge Win licences, drill wells and make discoveries Monetisation Realise value of exploration…
Proven track record 2P reserves Production* * Economic production figures differ to those used for accounting purposes. For example, in 2013 Faroe received the economic benefit from East Foinaven for the full year increasing…
Faroe: leading explorer in Norway An area where Faroe holds an established competitive advantage Faroe has made 6 commercial discoveries in 12 wells in Norway (Maria, Fogelberg, Butch, Rodriguez, Snilehorn and Pil) Faroe ranks 9th…
Norway world class exploration region One of the most attractive OECD exploration regions in the world World class discoveries still being made Skrugard and Havis fields (Barents Sea) and Johan Sverdrup (Norwegian Sea) Offers huge…
Loading...
