Dno Asa Class A · OSL:DNO
Dno Asa Class A — Dno Asa Ord — Q1 2025 Earnings Presentation
11 slides from Dno Asa Class A's earnings presentation, May 15, 2025
Slide 1: Q1 2025 Interim Results Presentation
Q1 2025 Interim Results Presentation
Slide 2: Q1 2025 summary and post-quarter developments
Q1 2025 summary and post-quarter developments • Revenue of USD 188 million and operating profit of USD 28 million Net production thousand boepd • Q1 2025 net production of 84,200 barrels of oil equivalent per day (boepd), up 84.2 79.4 eight percent from previous quarter 74.8 77.2 77.6 • Kurdistan co
Slide 3: On track to close Sval acquisition
Norne area NEW DNO On track to close Sval acquisition Dvalin (MMboe at end 2024) 2P reserves Maria 2C resources • Acquisition on track to close mid-year 2025 Fenja • Post-closing, DNO’s North Sea proven and probable (2P) reserves quadruple to 189 MMboe and 2C resources climb to 246 MMboe from 144 MM
Slide 4: DNO quickly moves to commercialize Kjøttkake discovery
DNO quickly moves to commercialize Kjøttkake discovery • Q1 2025 oil and gas discovery in Northern North Ofelia Kyrre Sea license PL1182 S (40 percent and operator) • Estimated to hold 39 to 75 MMboe in Paleocene injectite sandstones of excellent reservoir quality (mean of 55 MMboe) Gjøa field • Loc
Slide 5: North Sea 2025 exploration program
North Sea 2025 exploration program 1 4 Pre-drill Chance Post-drill volumes of DNO 2025 volumes License Name Type (MMboe) Success* interest Q1 Q2 Q3 Q4 (MMboe) 1 PL1119 Mistral Exploration 21-63 Medium 10% 19-44 2 PL1182S Kjøttkake Exploration 22-53 Medium 40% 39-75 Norway 3 PL1109 Horatio Exploratio
Slide 6: Kurdistan operations update
Work in progress Kurdistan operations update • At Tawke license (75 percent and operator), DNO increased gross production from its Tawke and Peshkabir fields to 82,100 boepd in Q1 2025 • With uninterrupted operations, Kurdistan production rose 11 percent quarter- on-quarter • In Q1 2025, DNO conduct
Slide 7: Financial results – key figures
Financial results – key figures Revenues Operating profit Net profit USD million USD million USD million 183 188 170 177 137 61 31 28 35 17 20 -3 -4 -82 -98 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 • Revenue increase from
Slide 8: Cash flow
Cash flow • Q1 2025 operational cash flow of USD 100 million Q1 2025 cash flow (USD 82 million in Q4 2024) USD million • There were no tax payments or refunds during Q1 583 1473 2025 (USD 1 million payment in Q4 2024) • Net investing activities of USD 109 million (USD 85 million in Q4 2024) largely
Slide 9: Capital structure
Capital structure Cash deposits Net cash Equity ratio USD million USD million percent 1473 49 42 40 943 919 36 899 29 606 171 158 134 99 43 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 • Cash build-up in Q1 2025 following new
Slide 10: 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 11: Slide 11