Corporate Presentation SpareBank 1 Markets E&P Outlook Seminar Stavanger, Norway 9 January 2020
Company Overview 3
Company Overview Portfolio Footprint Full cycle Sub-Saharan Africa focused independent Diversified portfolio: 4 countries, 6 licences Gambia/Senegal Listed on Oslo Axess since May 2014 Supportive strategic shareholder: Petromal,…
PetroNor History 2016 2017 2019 2020 onwards NOR Energy and Petromal Entered 2017 with PNGF Sud Completed business combination Develop PNGF Sud, initially through 2020 joined forces gross production of circa with African Petroleum…
Experienced Board and Management Team Jens Pace: CEO & Executive Director Stephen West: CFO & Executive Director 30 years at BP, and heritage company Amoco, gaining E&P leadership 25+ years of financial and corporate experience from…
Proven Ability to Deliver Shareholder Value PetroNor Value Creation Case Example Demonstrated Ability to Create Shareholder Value USDmm 29x Return On Investment in less than three years on PNGF Sud 150 Determined to continue value…
New Ventures: Targeting Transformational Growth Focused on production enhancement and targeted Reserves BnBbls exploration opportunities in Sub-Saharan Africa 20 5.0 20 0.5 5.0 Leveraging expertise in improved recovery and gas…
Strong ESG Commitment Environmental Social Governance We strive to minimize any adverse Our commitment to operating We adhere to best practice corporate impact on the environment responsibly is evidenced by a history governance…
Asset Overview
Diversified Portfolio in Sub-Saharan Africa SENEGAL2 Net un-risked Prospective Resources BUSINESS 1,779mmbbls DEVELOPMENT 2 licences: 14,216km2 (net) Focusing on 90% WI opportunities onshore and offshore Sub-Saharan…
Portfolio Overview High Margin Production From Congo-Brazzaville Assets Resource and Production Overview Net production of 2,300bbl/d (OPEX USD 12/bbl) Net Resources (mmboe) Net Production 2P 2C Prospective bbl/d 2018 free cash flow…
Congo-Brazzaville: PNGF Sud (10.5% net interest) New license group from 1 January 2017 with Operator Continent 20% 1 10% 10% Perenco as new operator - production Congo S.A. increased 50% combined with significant cost 40% 15%…
Congo-Brazzaville: PNGF Sud Litanzi Infill Drilling Program Litanzi currently developed by one producing well and one water injector drilled from the Tchendo platform Current production 1,100 bbl/d gross (115 bbl/d net) with 9 mmbls…
Congo-Brazzaville: PNGF Bis (14.7% net interest) Operator 57% Adjacent to PNGF Sud, containing the Louissima and Louissima SW discoveries Louissima SW 2C Resource estimate of 29 mmbbls of 41o API oil in 2019 CPR 28%1 PetroNor has…
Nigeria: OML 113 (Aje Field) Transaction Summary Transaction Rationale Partners Low cost entry ticket via acquisition of Panoros Nigerian entities to access significant proven resource potential USD 10M payable in PetroNor shares 1…
Nigeria: OML 113 (Aje Field) Forward Plan Production Profile Current Status and Challenges 18 Underperforming field with material potential 16 History of disputes between shareholders 14 Gross production (000 boe/d) 12 Value…
The Gambia and Senegal Disputed High Impact Assets History Early entry into The Gambia / Senegal margin as a high risk frontier exploration opportunity 90% working interest in Senegal, 100% The Gambia 1 USD 100M invested historically…
Summary Sub-Saharan Africa focused E&P independent with proven track record Full-cycle platform with significant upside Near term reserves and production growth from existing assets Strong operational experience and…
Q & A Session
Contact Details PETRONOR E&P LIMITED UK Office: Norway Office: UAE Office: 48 Dover Street Fryas gate 13 M Floor, Al Heel Tower London W1S 4FF 0273 Oslo Al Khalidiya Abu Dhabi T: +44 (0) 203 655 7810 T: +47 22 55 46 07 F: +44…
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