Atlantic Petroleum P/f · OMXCOP:ATLA_DKK
Atlantic Petroleum P/f — H1 2012 Earnings Presentation
15 slides from Atlantic Petroleum P/f's earnings presentation, Aug 29, 2012
Slide 1: Webcast Presentation 1H 2012 Results
WEBCAST PRESENTATION 1H 2012 RESULTS 29th August 2012
Slide 2: Disclaimer
Disclaimer This presentation includes statements regarding future results, which are subject to risks and uncertainties. Consequently, actual results may differ significantly from the results indicated or implied in these statements No representation or warranty (expressed or implied) is made as
Slide 3: 1H 2012 Highlights
1H 2012 Highlights Revenue in 1H 2012 was DKK 279.4MM which is the highest ever EBIT in 1H 2012 was DKK 77.2MM EBITDAX in 1H 2012 was DKK 206.1MM which is the highest ever Cash and cash equivalents at end 1H 2012 was DKK 231.2MM, compared to DKK 114.3MM at year end 2011. Cash and cash equiva
Slide 4: Income Statement
Income Statement 1H 2012 6 months 6 months to 30th June to 30th June 2012 2011 DKK DKK Revenue 279.439.202 241.043.078 Cost of sales -167.519.519 -145.463.749 Gross profit 111.919.683 95.579.329 Exploration expense -15.238.649 -6.324.950 Pre-licence exploration costs -2.195.597 -504.606 General and
Slide 5: Balance Sheet and Cash Flow
Balance Sheet and Cash Flow 1H 2012 DKK MM Balance Sheet End 1H 2012 End 2011 Total assets 898.3 776.9 - Cash and cash equivalents 231.2 114.3 Equity 473.4 429.3 Bank debt 97.7 105.0 - Long term 78.0 65.0 - Short term 19.7 40.0 Cash Flow 1H 2012 1H 2011 Net cash from operating activities 173.6 168.1
Slide 6: 2012 Production & Guidance
2012 Production & Guidance Atlantic Petroleum Production 2012 Boe 900000 Actual Production 800000 Production Guidance Interval 700000 REVISED Production Guidance Interval 600000 500000 400000 300000 200000 100000 0 6 August 2012
Slide 7: Business Model and Strategy
Business Model and Strategy Main Focus on Offshore North West Europe Mature basin but significant opportunities remain for Small to Mid Cap players Provide Steady Growth from the Existing Base Reserve/production growth in existing producing assets Retain Flexibility to Manage and Capitalise on Curre
Slide 8: Faroes, L006 - Brugdan II
Faroes, L006 - Brugdan II Brugdan Deep was spudded in June 2012 Water Depth 400 – 500m Equities: Statoil 50%, ExxonMobil 49%, Atlantic Petroleum 1% P50 prospective resources net to AP 9.2mmboe unrisked. Risked: 1.2mmboe Brugdan outline v’s Johan Sverdrup Norway 8 August 2012
Slide 9: AP Licences & Wells planned for 2012 – 2013
AP Licences & Wells planned for 2012 – 2013 Spaniards – 2012 well – Premier Oil Orchid – Feb 2012 well - Summit Pegasus West – 2013 well - Centrica Endymion – 2013 well - Centrica + 2 additional E&A Wells Brugdan II – 2012 well – Statoil 9 July 2012
Slide 10: Exploration & Appraisal
Exploration & Appraisal Y X 10 August 2012
Slide 11: Planned Activities (2012 to 2013)
Planned Activities (2012 to 2013) 2012 2013 Planned Activities (2012 to 2013) 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q L.006 Brugdan Deep Brugdan II well Faroe L.014 Marselius 2D Seismic Islands L.016 Kúlubøkan 3D Seismic (proposal) P.1556 Orchid Orchid well Exploration P.1655 Spaniards Spaniards well P.1724 Pegasus
Slide 12: Net Cash & Market Cap.
Net Cash & Market Cap. 12 August 2012
Slide 13: Net Cash & Market Cap.
Net Cash & Market Cap. 13 August 2012
Slide 14: Outlook
Outlook New production guidance is in the range 800,000 – 870,000 boe New EBITDAX guidance is in the range DKK 270MM – DKK 350MM On the Perth field, await engagement with new operator Parkmead and await feedback on the Field Development Plan from DECC Complete the drilling of the Brugdan Dee
Slide 15: Contact
Contact Headquarters, Faroe Islands P/F Atlantic Petroleum P.O. Box 1228 Gongin 9 FO-110 Tórshavn Faroe Islands Tel +298 350 100 Ben Arabo, CEO UK offices, London Tel +298 350 100 Atlantic Petroleum (UK) Limited Mobile +298 550 100 26/28 Hammersmith Grove E-mail: ben.arabo@petroleum.fo London W6 7BA
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