Petronor E&p Asa · OSL:PNOR
Petronor E&p Asa — 2023 Pareto Securities' 30th annual Energy Conference
11 slides from Petronor E&p Asa's conference presentation, Sep 20, 2023
Slide 1: 2023 Pareto Securities' 30th annual Energy Conference
2023 Pareto Securities’ 30th annual Energy Conference 20th September 2023, Jens Pace (Interim CEO) Tchendo well-head platform ready for deployment 4Q 23
Slide 2: Disclaimer
Disclaimer This Presentation has been prepared by PetroNor E&P ASA (Company). Investment risk An investment in the Company shares is subject to investment and other known and unknown risks, Summary information some of which are beyond the control of the Company Group. The Company does not guarantee
Slide 3: PetroNor E&P ASA
PetroNor E&P ASA Ø Africa focused full cycle E&P independent Ø Listed on Oslo stock exchange (ticker: PNOR) Ø Market capitalisation NOK 1.20 bn (USD 112 m) Ø Major shareholder is UAE based Petromal (34%) Ø So far this year: • 2023 1H average net production of 5,119 bopd • 2023 entitlement oil of 833
Slide 4: H1 2023 Financial Delivery: The best year ever so far
H1 2023 Financial Delivery: The best year ever so far… BALANCE SHEET HIGHLIGHTS Oil sales from barrels Cash at bank at 30 June 2023 H1 2023 revenue lifted 1,000 Planned Q4 USD 26.5 million USD 93.9 million 900 Lifting Bbls Thousands 31 December 2022: USD 24.8 million H1 2022: USD 36.8 million 800 70
Slide 5: Balanced portfolio across the E&P value chain
Balanced portfolio across the E&P value chain 1 Production base – Congo-Brazzaville – PNGF Sud/Bis > Gross field production of ~30,000 bopd > High margin production - $9/bbl opex > Operated by Perenco (PetroNor 16.83%) 2 Re-development – Nigeria – Aje Field (OML 113) > Development plan of 25,000 boe
Slide 6: Production base – Congo-Brazzaville – PNGF Sud/Bis
Production base – Congo-Brazzaville – PNGF Sud/Bis 1 Congo Production Strong operational delivery from Congo assets Ø PNGF Sud field complex 2 Bnbbls STOOIP and less than 500 mmbbls recovered to date. Ø Track record of adding production via work-overs of existing wells and infill drilling. Ø Six new
Slide 7: Production growth from disciplined investment in a large field
Production growth from disciplined investment in a large field PetroNor at net working interest 16.83% Indicative range 6.00 5.00 5.2 High margin production Net oil production, 000 bopd 5.0 4.7 4.00 4.1 Total OPEX: 3.7 $9-10/bbl 3.00 New CAPEX infill: 2.00 $10-15/bbl 1.00 0.00 Q2 2022 Q3 2022 Q4 202
Slide 8: Aje re-development as a gas field
Re-development – Nigeria – Aje Field (OML 113) 2 Aje re-development as a gas field Aje re-development planning is advancing1 Ø Completion of deal with YFP for 52% interest in jointly owned Aje Production AS in process. Ø Advancing plan for re-development with partners comprising: • FPSO with gas han
Slide 9: West African high impact exploration – monetising value
Exploration – large scale prospects 3 West African high impact exploration – monetising value Attractive exploration portfolio Ø Guinea Bissau deal demonstrates value of exploration portfolio. Ø 100% farm-out agreement secures USD 25m cash on completion with conditional payments of up to USD 60m. Ø
Slide 10: 1H 2023 lays the foundation for the best year ever
1H 2023 lays the foundation for the best year ever Ø Continued strong operational delivery from Strengthening balance sheet and Congo assets underpinned by regular liftings positive operational outlook provides to sell oil inventory and generate cash flow. PetroNor with the financial capacity to: Ø
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