Highlights First quarter 2014 and subsequent events EBITDA of USD -2.2 million, down from USD 14.4 million in the previous quarter Completed closing of sales transaction of Rio das Contas Repayment of bonds: Leaving the Company…
Financial review
Financial and accounting highlights Q1-2014 and subsequent events Sales transaction of Rio das Contas (Manati) completed in Q1 EBITDA of USD -2.2 million in Q1-14, down from USD 14.4 million in Q4-13 No oil & gas revenues and…
Profit & Loss statement (USD 000) Condensed consolidated statement of comprehensive income Q4-2013 Q1-2014 Oil and gas revenue 10,642 - Other income 10,500 - Total revenues 21,142 - Production costs (2,876) - Exploration related costs…
Group balance sheet Per Mar 31, 2014 Balance sheet (USD 000) Dec 31, 2013 Mar 31, 2014 Licenses and production assets 94,755 95,874 Other non-current assets 12,088 175 Total non-current assets 106,843 96.049 Trade and other receivables…
Operational Review 9
Dussafu Large exploration license with multiple discoveries and prospects Dussafu (Gabon) Exploration portfolio Project Status Operator Harvest Natural Resources (66.67%) 2,775km2 license in Southern Gabon pre-salt Working Interest…
Gaffney Cline Report Summary Final GCA report received on March 21st 2014 The cash flows presented in the GCA report supports commerciality of the discoveries Gaffney Clines volumes were 36.3MMbbl Contractor Cash flows…
Dussafu Progress of Field Development Activities Declaration of Commerciality (DoC) Process underway for issuance of DoC Once DoC is made the JV has two months to apply for Exclusive Exploitation Authorization (EEA) - defines…
Material Dussafu Exploration potential 1,130km2 outboard 3-D acquired in Q4 2013 Dussafu Outboard Leads Key to de-risking substantial outboard leads Based on 2D seismic Processing underway with preliminary seismic products expected…
Outboard 3D seismic Panoro Properties 3D is targeting unrisked prospective resources Ebouri Lucina Gamba Prospects / Leads Other Prospects / Leads of around 1billion bbl (gross) as well as Etame Oil Fields Gas Discoveries…
Aje Near term development with exploration upsides Project Status Partners are focused on 2015 oil production Early 2 well oil project, agreed by all license partners FDP approval received end March Ongoing discussions with FPSO…
Aje Cenomanian Oilfield Development Concept Aje Field Appraisal and Development Scheme Aje-4 will be completed as a Cenomanian oil producer Aje-5 will be a new well designed to target the Cenomanian reservoir close to existing…
Ogo-1 Discovery and Syn Rift Potential Exciting exploration potential from the new syn-rift play Syn Rift Potential in Aje Insights into Ogo Discovery in OPL 310 Source: Lekoil Surface View of Syn-Rift Potential Source:…
OML 113 Seismic acquisition completed Quality of data is improved compared to existing 3D Processing due to start imminently Fast Track PSTM due for delivery mid 2014 with PSDM in 2H 2014 Data will be used to mature prospect…
Panoro Sum of the Parts Valuation Panoro is currently trading below the P90 / low case value of its assets and its cash position Core NAV (10) Core NAV (10) & Potential Upside NAV (10) USm NOK p/s USm NOK p/s 500 12.7 1,000 25.5 Core…
Corporate Sales Process Sales process fully launced after closing of the Manati transaction Progressing according to plan The Company will announce results after completing the process 20
Outlook Restructuring according to plan Significant reduction in costs Ongoing exit from Brazil Company debt free with two high quality assets Company well positioned Aje field Final Investment Decision (FID) expected in Q3…
First quarter 2014 financials Q&A Please visit www.panoroenergy.com for more information
Loading...
