Atlantic Petroleum P/f · OMXCOP:ATLA_DKK

Atlantic Petroleum P/f — Atlantic Petroleum — Merger or Acquisition (November 2012)

15 slides from Atlantic Petroleum P/f's merger presentation, November 2012

  1. Slide 1: Acquisition of Emergy Exploration – Norway Entry

    Atlantic Petroleum Acquisition of Emergy Exploration – Norway Entry November 2012

  2. Slide 2: Disclaimer

    Disclaimer  This presentation includes statements regarding future results, which are subject to risks and uncertainties. Consequently, actual results may differ significantly from the results indicated or implied in these statements  No representation or warranty (expressed or implied) is made as

  3. Slide 3: Our Strategy & Building Blocks

    Our Strategy & Building Blocks Provide step change growth through high impact exploration and targeted acquisitions GROWTH THROUGH GROWTH BY FARM-IN & DEVELOPMENT ACQUISITIONS Create organic growth through Increase portfolio through development of existing asset selective farm-ins and base acquisiti

  4. Slide 4: The Deal

    The Deal  The offer for 100% of the shares in Emergy Exploration is USD 12.7 million to be paid in cash or a combination of cash and shares, of which 50% will be paid in cash upon acceptance of the Offer and 50% will be paid at the latest on 31st January 2013 in cash, shares or a combination of cas

  5. Slide 5: New Group Structure

    New Group Structure P/F Atlantic Petroleum Faroe Islands Atlantic Petroleum UK Ltd Atlantic Petroleum Norge AS (100% equity) (100% equity) Atlantic Petroleum Ireland Ltd Volantis Exploration Ltd (100% equity) (100% equity) Atlantic Petroleum UK Limited Volantis Netherlands BV (100% equty) 5

  6. Slide 6: Strategic Rationale

    Strategic Rationale  Platform to build material business unit in Norway  Adding high impact exploration and appraisal acreage  Highly experienced team with strong track record on the Norwegian Continental Shelf 6

  7. Slide 7: Transaction Rationale

    Transaction Rationale  Norway remains highly prospective: 2 of the world’s 5 largest discoveries over the last two years  Participation in the 22nd Licencing Round: Emergy Exploration is pre-qualified as a licensee on the NCS and will participate in the upcoming 22nd round  People: Experienced te

  8. Slide 8: Significant Exploration Potential Remains

    Significant Exploration Potential Remains Norway is deviating from the classic creaming curve in 68 that the past several years have seen larger discoveries 66 64 62 Cumulative Discovered oil & gas resources by country 60 by year (offshore only) 2000 2005 2010 Billion boe 2001-2011 statistics: 80 ≈

  9. Slide 9: Norway Assets – PL270

    Norway Assets – PL270  License partnership upon completion of transaction:  VNG 85 % (OP), Emergy (AP Norge) 15 % PL 270  Area: Norway, Northern North Sea, Block 35/3  Water depth: c. 260 m  Block Summary  3 gas discoveries  Additional upside potential to be explored before potential developm

  10. Slide 10: Norway Assets – PL559

    Norway Assets – PL559  License partnership upon completion of transaction:  Rocksource 60 % (OP), VNG 20 %, Skagen44 10 %, PL 559 Emergy (AP Norge)10 %  Area: Norway, Norwegian Sea, Nordland Ridge, Block 6608/10/11  Water depth: c. 380 m  Block summary  Drill or drop early 2013, eventual well

  11. Slide 11: Business concept

    Business concept Knowledge of NCS Stringent Criteria Experience If discovery: & focus on DHI’s swap for production Drill low risk or sell prospects with low to moderate Successful Farm- working interest Select ins or awards in Selectopportunities Opportunities licensing rounds Extensive Network High

  12. Slide 12: Atlantic Petroleum Licences November 2012

    Atlantic Petroleum Licences November 2012 38 LICENCES UK 29 exploration & appraisal licences 3 licences with fields in production Faroe Islands 3 exploration licences Ireland 1 exploration licence Norway 2 exploration licences with potential to increase significantly through licensing rounds and far

  13. Slide 13: Exploration & Appraisal Wells

    Exploration & Appraisal Wells Wells Wells drilled/planned Cum. wells drilled Cum. wells drilled drilled 5 14 12 4 Tentative 10 Norway well 3 8 6 2 4 1 2 0 0 2009 2010 2011 2012 2013 2014 Firm Exploration & Appraisal wells Tentative Norway wells 13

  14. Slide 14: Summary

    Summary Transaction Rationale  Exposure to the highly prolific and prospective Norwegian Continental Shelf  Participation in Norwegian licence applications. Next round has a bid deadline 4th December  Ownership in two licenses  Contingent Resource of 9 mmboe net according to operators’ estimates

  15. Slide 15: Contact

    Contact Headquarters, Faroe Islands P/F Atlantic Petroleum Yviri við Strond 4 P.O.Box 1228 Faroe Islands Tel +298 350100 Norway offices, Bergen Atlantic Petroleum Norge AS Kanalveien 109 5068 Bergen Norway Tel +47 99205989 Ben Arabo, CEO UK offices, London Tel +298 350 100 Mobile +298 550 100 Atlant

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