Dno Asa Class A · OSL:DNO
Dno Asa Class A — Dno Asa Ord — Q2 2024 Earnings Presentation
9 slides from Dno Asa Class A's earnings presentation, Aug 15, 2024
Slide 1: Q2 2024 Interim Results Presentation
Q2 2024 Interim Results Presentation
Slide 2: Q2 2024 summary and post-quarter developments
Q2 2024 summary and post-quarter developments • Doubling of net profit to USD 35 million on revenue of USD 137 million in Q2 2024 Net production thousand boepd • Net production rose six percent to 79,400 barrels of oil equivalent per day (boepd), of 79.4 74.8 which Kurdistan 59,800 boepd, North Sea
Slide 3: Scaling up in Kurdistan
Scaling up in Kurdistan • Increased spending in Kurdistan to optimize production from existing wells at the flagship Tawke license (Tawke and Peshkabir fields) (DNO 75 percent and operator) • Gross Tawke license production continuing to rise, averaging 83,500 boepd in the first half of Q3 2024, up f
Slide 4: North Sea operations update
North Sea operations update Norway Pre-drill Chance Post-drill volumes of DNO 2024 volumes License Name Type (MMboe) Success* interest Q1 Q2 Q3 Q4 (MMboe) Hummer/ Exploration/ 7 1 PL827S 19-34 Medium 49% Hummer: 1-4 Heisenberg appraisal Heisenberg: 24-56 P248F/ 2 Cuvette Exploration 7-28 High 20% 16
Slide 5: Financial results – key figures
Financial results – key figures Revenues Operating profit Net profit USD million USD million USD million 199 183 141 137 58 61 40 38 35 17 4 -3 -15 -19 -55 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 • Revenue decline since
Slide 6: Cash flow
Cash flow Q2 2024 cash flow • Q2 2024 operational cash flow of USD 139 million USD million (USD 100 million in Q1 2024) • There were no tax payments or refunds during Q2 2024 (same as in Q1 2024) • Net investing activities of USD 121 million (USD 51 million in Q1 2024) largely consist of USD 61 mill
Slide 7: Capital structure
Capital structure Cash deposits Net cash Equity ratio USD million USD million percent 943 50 49 48 743 47 708 719 42 606 177 171 158 142 153 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 • Solid balance sheet with cash deposit
Slide 8: Important notice
Important notice This presentation (the “Presentation”) has been prepared and delivered by DNO ASA (“DNO” or the “Company”). Copyright of all published material including photographs, drawings and images in this document remains vested in DNO and third party contributors as appropriate. Accordingly,
Slide 9: Slide 9