Petronor E&p Asa · OSL:PNOR
Petronor E&p Asa — Q2 2026 Earnings Presentation
11 slides from Petronor E&p Asa's earnings presentation, Aug 28, 2026
Slide 1: Q2 2026 Results Presentation
Q2 2026 Results Presentation 28 August 2026, Jens Pace (CEO) Djeno oil terminal
Slide 2: Disclaimer
Disclaimer This Presentation has been prepared by PetroNor E&P ASA (Company). Investment risk An investment in the Company shares is subject to investment and other known and unknown risks, Summary information some of which are beyond the control of the Company Group. The Company does not guarantee
Slide 3: Q2 2026: Increased production and oil sales support return of capital
Q2 2026: Increased production and oil sales support return of capital Average Net Working Interest Production1) ➢ Q2 improved production capacity from new wells and reduced work- 000 bopd over queue. ➢ Stable infrastructure uptime 5.0 delivered 93% production efficiency. 4.6 4.7 4.3 4.3 4.1 ➢ Lifted
Slide 4: 2026 Financial Delivery
2026 Financial Delivery: BALANCE SHEET HIGHLIGHTS Oil sales from barrels Cash at bank at Revenue for half year ended lifted 30 June 30 June Thousands 1,800 USD 85.2 million USD 162.9 million 1,600 31 December 2025: USD 58.9 million H1 2025: USD 27.6 million 1,400 Q4 Gross assets at EBITDA for half y
Slide 5: H1 2026 – Source and Use of cash
H1 2026 – Source and Use of cash Amounts in USD million -41.5 51.0 -11.3 -5.5 -4.1 -13.8 -50.0 111.9 -10.3 85.3 58.9 Cash at 1 Oil sales Tax oil and Overlift OPEX CAPEX ADMIN Working Return of Dividend Cash at 30 January 2026 royalties adjustment capital capital to to NCI June 2026 adjustment shareh
Slide 6: Congo reinvestment in new opportunities
Production base – Congo-Brazzaville – PNGF Sud/Bis 1 Congo reinvestment in new opportunities Operational update PNGF Sud PNGF Bis ➢ Perenco operated field complex ➢ 2.3 bnbbls STOOIP with about 500 mmbbls recovered PNGF Sud ➢ Long lived production with rate responding to investment in new wells ➢ Ne
Slide 7: Aje re-development as a gas field
Re-development – Nigeria – Aje Field (OML 113) 2 Aje re-development as a gas field Aje re-development project focus ✓ Aligned partnership and consolidated position* ✓ Defined project with attractive economics ✓ Improved subsurface description • Static modelling and dynamic reservoir modeling complet
Slide 8: Økokrim indictment of Hemla Africa Holding AS
Økokrim indictment of Hemla Africa Holding AS ➢ Hemla Africa Holding AS ("Hemla") is indicted in relation to suspected corruption. ➢ Hemla is a 100% indirect subsidiary of PetroNor, and the majority shareholder of Hemla E&P Congo, which is the holder of a 20 per cent interest in the PNGF Sud license
Slide 9: Shareholder value
Shareholder value Focus on near term shareholder return: Share Price: ➢ Operational delivery and focused strategy has generated cash to support shareholder distributions ➢ 4.2 NOK per share repayment of capital during 2025 ➢ 3.25 NOK per share repayment of capital in June 2026 ➢ Total shareholder re
Slide 10: Summary
Summary ➢ Production capacity increased by new wells to over 5,000 bopd net for Q2 ➢ Preparing for additional infill drilling investments in 2027 ➢ Realized lifting of 965,000 bbls generating USD 112 million ➢ Rebuilding inventory of entitlement oil at ca 100,000 bbls per month ➢ Advisor appointed f
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