Investor Presentation 9th April 2014 Geographically-focused West Africa E&P with attractive assets in Gabon & Nigeria
Panoro Energy ASA Corporate Snapshot Panoro is an Oslo-listed Exploration and Production company with near-term development assets in West Africa and substantial exploration and appraisal upside Key Corporate Information Overview of…
Panoro Energy Investment Highlights During 2013 and 2014 Panoro was successfully repositioned strategically and financially through the divestment Corporate of its MKB (Congo) and Manati (Brazil) assets and the resulting repayment of…
Panoro Energy Investment Highlights Continued Panoro has meaningful near and medium-term organic newsflow potential from its portfolio Nigerias DPR has approved the Aje FDP and the JV partners are targeting first oil in Q4 2015 The…
Delivery on Strategy and Divestment Process Panoro has delivered on its announced divestment process, concluded its strategic review process and announced a formal Sales Process Successful divestment processes: MKB sold and proceeds…
Overview of Financing Position Post Manati Divestment With the completion of the Manati transaction and repayment of the bond, Panoro has a net cash position of approx. 66m 200 140 3 180 160 140 120 100 USm 80 66 60…
Portfolio Overview Resources and Production Working Interest Production of approximately 2,300 bbl/d is forecast in 2016, rising to over 9,500 bbl/d by 2017 Panoro Energy Discovered Resources: Net Working Interest 2C(1) Panoro Energy 2C…
Dussafu & Aje Field Development: Indicative Cash Flows Panoros assets are forecast to deliver significant positive cash flow from 2017 onwards and the company would expect project financing to be available to help fund the Dussafu…
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…
Key Corporate Milestones and Work Programme Panoro has a strong pipeline of newsflow from its asset base 2014 2015 2016 J F M A M J J A S O N D 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Nigeria FDP Aje FDP Submission Submission & Approval Aje FID…
OML 113
Introduction to Aje Fast track early oil development with fully aligned partnership (since Chevrons exit in July 2013) with subsequent gas / condensate and material exploration potential OML 113 Aje (Nigeria) OML 113 West African Gas…
Aje Project Overview and Hydrocarbon Reservoirs Aje Project Overview Existing Aje Wells The Aje Field includes discoveries over four reservoirs: The Turonian which is a gas condensate discovery Turonian The Cenomanian which includes 2…
Aje Development Concept and Fiscal Regime Field Development Plan Diagrammatic Representation Field Fiscal Regime FPSO OML 113 is a 835km2 Sole Risk licence and the fiscal terms comprise a 10% oil (Water depth approx. 100m) royalty…
Ogo Discovery and Syn Rift Potential Aje also brings exciting exploration potential from the new syn-rift play analogous to the neighbouring Ogo field Syn Rift Potential in OML 113 Insights into Ogo Discovery in OPL 310 Source:…
Dussafu
Dussafu Overview Proven hydrocarbon Gamba and Dentale fairway with attractive economics, PSC with excellent fiscal terms, shallow water and low cost development, production infrastructure with available capacity nearby Dussafu Dussafu…
Dussafu Conceptual Development Plan & Fiscal Terms The exploration phase of Dussafu has been highly successful and the development stage is now commencing: gross field 2C of 33.4 mmbbl has been delivered on the block so far Overview of…
Dussafu Outboard / Exploration Potential Considerable interest in Southern Gabon pre-salt is demonstrated by recent awards in deep water to major oil companies. Signature bonuses reported to range from 20-40m Dussafu Outboard Leads in…
Conclusion
Why Invest in Panoro Panoro has undergone a transformational period in 2013 and with the completion of the Manati transaction is a debt-free company with approx. US66m of cash Panoro is now a geographically-focused West African E&P…
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