Norsk Hydro Asa · OSL:NHY
Norsk Hydro Asa — Norsk Hydro A S A — Merger or Acquisition (September 2005)
12 slides from Norsk Hydro Asa's merger presentation, Sep 19, 2005
Slide 1: Hydro announces agreement to acquire Spinnaker Exploration
Hydro announces HYDRO Strategic 2005-09-19growth inagreement Gulf of Mexico to acquire Spinnaker Exploration
Slide 2: Agreement to acquire Spinnaker Exploration
Agreement Listed Significant Excellent HYDRO Houston-based exploration Gulf to acquire of Mexico track Spinnaker exploration record portfolio Exploration company
Slide 3: Strategic acquisition and perfect fit for Hydro and Spinnaker
Hydro andacquisition Strategic Attractive Significant High-quality Substantial World-class HYDRO and Spinnaker high-margin exploration competence deepwater broad and portfolio – potential adevelopment production joining strong perfectinternational forces fit opportunities expansion
Slide 4: The price and transaction terms
Theprice Value All-cash Earnings Long-term Oil Near-term Hedging Principal Spinnaker Regulatory Closing HYDRO transaction ofexpected transaction offer planned assumptions per conditions shareholders’ production oil clearances share USD price to inand 65.50 in secure fourth USD tobased the close cash
Slide 5: Spinnaker: attractive Gulf of Mexico portfolio
Spinnaker Attractive The Highly 45 7 Proven Expected 62 129 Production 23,000 Exploration 50,000 No. Total Deepwater Average 55% 35% Operating: 350 181 169 Large 60% 45% 80% Full Extensive High-impact Key Shelf Front Eastern 18.33 Spiderman San 26.67 50.00 Q2) Thunder -25.00 1) 2) 3) 4) HYDRO Apprai
Slide 6: Strong deepwater portfolio complements Hydro's position
Strong Hydro Spinnaker Seventeen San Thunder F Q Lorien Zia Independence 5 0 Km Telemark 200 150 100 0rontJacinto Runner leases deepwater Hawk deepwater Hands &and Hub Spiderman fields portfolio leasescomplements and fields Hydro’s position
Slide 7: Combined exploration portfolio and competence
Solid Highly Strong 104 21 (60%) (65%) Aggressive Balanced Promising Rig Excellent Combined Extensive Large 1) 2) HYDRO Including Pre deepwater capacity discoveries platform PSDM2) Stack Spinnaker skilled combined longer-term G&G combined competence portfolio short-term Depth 93 secured discoveries
Slide 8: Gulf of Mexico: large deepwater petroleum province
Gulf Large Cutting-edge Attractive Yet-to-find Remaining IReserves 0 10,000 20,000 30,000 40,000 50,000 Eq. Indonesia Mauritania US Australia Source: Egypt UK India Brazil Malaysia Congo Angola Mexico Nigeria Canada Norway HYDRO vory GoM Guinea ofCoast yet-to-find Mexico WoodMackenzie (mm and reserv
Slide 9: Building on strong exploration growth
Building Strong Excellent Exploration Ambitious Extensive Continued HYDRO production aoperational business first-class stronger exploration strategy growth development Hydro paying project performance program andoff execution international –continues activities 9 Hydro discoveries ongoing expansion
Slide 10: Forward-looking statements
Forward-looking use This historical “expects,” to performance signed companies results integration but With “SEC”). the reports HYDRO significant most not ofpress respect non-GAAP to aand limited merger directly differ facts release “anticipates,” do of other to of risks, Spinnaker not and to, each
Slide 11: Cautionary note to US investors
Cautionary The production expected No. HYDRO 1-9159, United recoverable or Note States available conclusive Securities resources, from formation usand atthat our Exchange tests the Corporate SEC’s to be Commission economically guidelines Headquarter: permits strictly and Norsk legally oil prohibit H
Slide 12: Hydro is an integrated aluminium and energy supplier
Hydro is of integrated viability Progress HYDRO www.hydro.com of a aluminium Fortune the a different customers 500supplier nature energy and communities and and aaluminium pioneerwe in supplier renewable serve. founded energyinand 1905, energy-efficient with 36,000 employees solutions. As in nearly
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