Panoro Energy ASA · OSL:PEN
Panoro Energy ASA — Pareto E&P Conference 2019
18 slides from Panoro Energy ASA's conference presentation, Jan 16, 2019
Slide 1: Pareto E&P Conference
Pareto E&P Conference January 16, 2019 OSE Ticker PEN www.panoroenergy.com Corporate Presentation |
Slide 2: Disclaimer
DISCLAIMER This presentation does not constitute an offer to buy or sell shares or other financial instruments of Panoro Energy ASA (“Company”). This presentation contains certain statements that are, or may be deemed to be, “forward-looking statements”, which include all statements other than state
Slide 3: Panoro at a Glance
PANORO AT A GLANCE FULL-CYCLE OIL AND GAS COMPANY WITH ASSETS IN TUNISIA, GABON AND NIGERIA GEOGRAPHICAL OVERVIEW MARKET CAP TOP SHAREHOLDERS # Shareholder1 # Shares (%) 1 KISTEFOS 4,968,944 7.96 % 2 F2 FUNDS AS 3,696,329 5.92 % JULIEN BALKANY AND ASSOCIATED 3 3,085,226 4.95 % Tunisia INVESTMENT COM
Slide 4: Team with strong track-record of value-creation
TEAM WITH STRONG A TRACK-RECORD OF VALUE-CREATION EXECUTIVE MANAGEMENT TEAM John Hamilton Qazi Qadeer Richard Morton Chief Executive Officer Chief Financial Officer Technical Director Joined 2015 Joined 2010 Joined 2008 BOARD OF DIRECTORS Mr. Julien Balkany Ms. Alexandra Herger Mr. Torstein Sanness
Slide 5: 2018 a transformational year: building a full-cycle E&P
2018 A TRANSFORMATIONAL YEAR: BUILDING A FULL-CYCLE E&P PRODUCTION WELLS RESERVES EMPLOYEES LICENCES bopd MMboe January ~400 2 21.6 5 2 2018 January 2019 ~2,500 18 28 28 9 Current net (After adjusting for (not including TPS) production 2018 production) Corporate Presentation | 5
Slide 6: Corporate Vision
CORPORATE VISION Sustain materiality NIGERIA (Aje) Producing field with Continue to build existing production significant oil and base in Tunisia and Gabon gas potential Unlock the exploration potential in GABON existing asset base (Dussafu) Large development block with multiple TUNISIA (TPS)
Slide 7: Dussafu Gabon
Corporate Presentation DUSSAFU Gabon Corporate Presentation |
Slide 8: Recent highlights from Panoro and BWO
RECENT HIGHLIGHTS FROM PANORO AND BWO INITIAL PRODUCTION MIDDLE OF RANGE TORTUE PHASE 2 RESERVES PRODUCTION Tortue Phase 2 planning 30-40 mmbo estimated Phase 2 production projected to well underway, in Tortue (excluding contingent start early 2020 and could peak mid up to 4 new producers resources)
Slide 9: Dussafu at the start of 20 year license term
DUSSAFU AT THE START OF 20 YEAR LICENSE TERM Production maintained ca 18-20,000 bopd FPSO Capacity 25,000 bopd 2002 2018 FUTURE Initial Reserves 100+mmbo 150+mmbo ETAME 20 mmbo Initial Reserves Torte Ruche Area Moubenga and Walt New 23 mmbo Phase 2 Development Whitman Discoveries Discoveries DUSSAFU
Slide 10: Tortue is just the beginning: recent oil discovery announced
TORTUE IS JUST THE BEGINNING: RECENT OIL DISCOVERY ANNOUNCED Nine consecutive successful well FIELD OVERVIEW penetrations since 2011 Moubenga and Walt Whitman discovered Ruche Area EEA1 previously Recent oil discovery in the Ruche NE Moubenga Current reserve estimates have only focused on To
Slide 11: Tunisia
Corporate Presentation Tunisia Corporate Presentation |
Slide 12: Transformational acquisition of OMV Tunisia Upstream
TRANSFORMATIONAL ACQUISITION OF OMV TUNISIA UPSTREAM PORTFOLIO OF LOW COST ONSHORE AND NEAR SHORE OIL PRODUCING ASSETS IN TUNISIA Panoro 60% subsidiary has acquired OMV Tunisia Upstream GmbH OMV TUNISIA – PORTFOLIO OVERVIEW – 49% interest in five low risk, producing onshore and shallow offshore oi
Slide 13: Establishing a new core area
ESTABLISHING A NEW CORE AREA HIGHLY PROSPECTIVE AREA WITH LOW COST PRODUCTION AREA OVERVIEW AND HIGH TRANSACTION ACTIVITY Assuming Brent $65 per barrel TRANSACTION June 2018 Chergui (45%) Buyer: Perenco Seller: Petrofac MARGIN ~$18‐23 TRANSACTION Sept. 2018 5 Concessions (49%) Buyer: Panoro Energy M
Slide 14: Tunisia future upside activity
TUNISIA FUTURE UPSIDE ACTIVITY El Ain 01 and Salloum El Ain 03 Salloum West Cercina workovers well and Infill Drilling eventual extended production test Chergui South Appraisal Hbara Exploration Well Guebiba Workovers Ras El Besh and appraisal FDP revision and FID Substantial 3,228 km2 exploration p
Slide 15: Nigeria
Corporate Presentation Nigeria Corporate Presentation |
Slide 16: OML 113 "Aje" license overview
OML 113 “AJE” LICENSE OVERVIEW PRODUCING FIELD WITH SIGNIFICANT OIL AND GAS POTENTIAL Large oil and gas accumulation offshore Nigeria FIELD OVERVIEW – Discovered in 1997 in water depth of 100-1,500m – Fully appraised field by four wells in three reservoirs – 127.1 MMboe certified 2P reserves (20.0
Slide 17: Looking forward
LOOKING FORWARD 2019 2020 2021+ Up to 4 new wells drilled 3-6 wells drilled Dussafu Phase 2 Dussafu Phase 2 Dussafu 2 Production wells drilling New production wells Dussafu Ruche (entering production Q1 2020) onstream development 1 new exploration prospect ‐ First two in Q1 2020 Developm
Slide 18: Contact Details
Contact Details: PANORO ENERGY 78 Brook Street London W1K 5EF United Kingdom Tel: +44 (0) 203 405 1060 Fax: +44 (0) 203 004 1130 info@panoroenergy.com Corporate Presentation | 18