Petronor E&p Asa · OSL:PNOR
Petronor E&p Asa — Q1 2021 Earnings Presentation
11 slides from Petronor E&p Asa's earnings presentation, Jun 1, 2021
Slide 1: SB1 Webinar: 2021 Q1 Update
SB1 Webinar : 2021 Q1 Update June 1st 2021, E. Alhomouz (Chairman), K. Søvold (CEO), C. Frimann-Dahl (CTO), M. Barrett (Geosc. Director) Teodor Sveen-Nilsen (SB1) March 2020
Slide 2: Balanced portfolio across the E&P value chain
Balanced portfolio across the E&P value chain Portfolio Overview 1 Production base – Congo-Brazzaville – PNGF Sud/Bis > Net production of 3850 bopd > Low cost and high margin production with significant organic growth potential > Operated by Perenco, a world-class operator of mature assets in emergi
Slide 3: Key financials
Key financials Q1 2021 highlights Key financials Q1 20211 vs. Q1 2020 > Completed a capital raise of NOK 340 million in March 2021 - Tranche 2a Total revenue Cash and cash equivalents and 2b Offer shares to be issued in June. USD 22.9m USD 19.6m (Q1 2020: USD 19.7m) (Dec 2020: USD 14.1m) > Received
Slide 4: Increasing ownership in PNGF Sud to 16.8% through a successful Private Placement of NOK 340m
Increasing ownership in PNGF Sud to 16.8% through a successful Private Placement of NOK 340m in March Overview of transactions Key information PNGF Sud > NOK 340m equity financing strongly supported by key shareholders > Petromal and NOR has strongly supported the capital raise > Two tranches due to
Slide 5: Production Base – PNGF Sud
1 2 3 Production Base – PNGF Sud1 High margin producer with growth potential Key facts PNGF Sud '000 bopd gross mmbbl gross 40 200 > Mature oil asset which came on stream in 1987 and holds a 30 150 significant remaining potential 20 100 > Located in shallow waters (80-100m) with significant infrastr
Slide 6: PNGF SUD - Material increase in production and cash flow
PNGF SUD - Material increase in production and cash flow Becoming a significant producer in Congo 15 well infill drilling program Production outlook (2P+2C+PNGF BIS 2C)1) kbbl/d Current 2P 10.5% 8 2C PNGF BisMGI enforcement (23.56%) IOR potentialSymero 16.8% (16.83%) 7 PNGF Sud 2C Maintain plateau t
Slide 7: Consistent y-o-y reserves growth driven by strong production performance
Consistent y-o-y reserves growth driven by strong production performance Gross / net reserves increased 2.4x / 3.6x respectively1 Significant historical operational improvements 2020 : 2P reserves replacement ratio of ~300% PNGF Sud embarking on infill drilling programs expecting continued reserves
Slide 8: The Aje field: Intention to revitalize license
1 2 3 The Aje field: Intention to revitalize license Key redevelopment Aje field location and partnership overview > Participating interest pending ministerial approval - process well advanced > Producing asset1 with significant upside potential to be unlocked through new partnership and different t
Slide 9: West African exploration “hotspot” – the MSGBC basin
1 2 3 West African exploration “hotspot” – the MSGBC basin The MSGBC exploration hotspot Overview map The MSGBC Basin – Mauritania - Senegal - Gambia - Guinea Bissau - Guinea Conakry – Sangomar Field1 is the key analogue for the MSGBC basin – Target production of 100.000 bopd in 2023 PetroNor – Re-e
Slide 10: Robust financial position enables further growth
Robust financial position enables further growth Financial platform and key principles for growth > Healthy balance sheet Robust capital structure > PetroNor aims to maintain a low financial leverage and conservative capital structure Positions PetroNor with the financial capacity and flexibility to
Slide 11: PetroNor 3-Year Target
PetroNor PetroNor 3-Year Target Reserves Production 300 mmbbl 30,000 boepd