Faroe Petroleum Corporate Presentation September 2017 1 Slide 1
Faroes 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…
Faroe Petroleum overview Building the leading pan-North Sea independent E&P company Material growth from existing portfolio Total average production1) 2016 Potential to more than treble production in next 5 years 17,395 boepd…
Strategic summary Positioned for organic & inorganic growth Strategically well Growth Financial flexibility positioned focused Diversified high quality Robust Strong growth pan North Sea portfolio balance sheet from existing…
Track record of delivery Combining full cycle projects with M&A to create significant value Year end 2016 2P Reserves 2016 Average Production 81 17,395 mmboe boepd increase increase between 57.4 between 2012-2016 2012-2016…
Delivering material organic growth in production & cashflow Visible growth route over coming 5 years - field investment locking in low costs 60 30 50 25 Fogelberg (33%) 40 20 Fenja (25%) Production boe/d 30 15 Brasse…
Transformational 2016 acquisition in Norway Significant value creation + rapid payback July 2016: Announced acquisition of Ula, Tambar, Trym and Oselvar from DONG for 70.2m. The four fields produced 9,810 boepd (FY2016) and contained…
Core hub areas Attractive projects with excellent upside Focus on value growth to realise synergies Greater NJORD hub area Njord Future Project (including new Bauge) on track for 2020 Fenja (Pil & Bue) FEED underway FDP expected late…
Brage hub area Brasse - robust, simple subsea development project with excellent address Brasse: (Faroe 50% and operator) PL740 Brasse oil and gas discovery July 2016 similar to Brage Preliminary estimates of 56-92 mmboe recoverable…
Ula hub area Tambar, Oda, Blane and Ula: new production and reduction in unit opex Ula: (Faroe 20%) Oda (15%) Upside potential Ula Hub Renewed exploitation drive underway led by AkerBP (20%) Tambar Additional oil and gas from…
Njord hub area Attractive projects with excellent upside Njord: (Faroe 7.5%) Njord Future Project Gross reserves of more than 340 mill boe via Njord hub Progressing to plan - dry dock period completed Planned to come back on stream in…
Finances
Financial summary highlights and outlook Strong balance sheet, undrawn RBL, good hedging, production cash flow Healthy cash o 117.5 at 30 Jun-17 (unaudited) balance o 78% tax rebate for Norwegian o mainly PUTs E&A o 87% 2017 gas…
Summary Diversified portfolio, high upside, funded programme - material value growth Solid and proven pan-North Sea model with world class team delivering sustainable value growth Greatest exposure to Norway of all London quoted E&Ps…
Share price Slide 18
Faroe Petroleums shares Number of Average traded shares in issue volume per day in 2016 366.5m 1.3m Quoted on AIM, Shares in free London float approx. 84%* *Source: RDIR Blue chip shareholder base Slide 19
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