dno asareports.huginonline.com/833471/94245.pdf · oil & gasoil & gas det norske...

PRESENTATION

PARETO OIL & OFFSHORE

SEMINAR

5. SEPTEMBER 2001

DNO ASA

DNO ASA

Helge EideManaging Director

Pareto Oil & Offshore Seminar

5 September 2001

PRESENTATION


SEMINAR

5. SEPTEMBER 2001

DNO ASA

• Introduction

• Financial Performance

• Overview of Activities

• Short Term Outlook

PARETO OIL & OFFSHORE SEMINAR 2001

PRESENTATION


SEMINAR

5. SEPTEMBER 2001

DNO ASA

• Niche Oil Company

DNO ASA

• Substantial expansion during past 5 years

• Solid basis for further growth

PRESENTATION


SEMINAR

5. SEPTEMBER 2001

DNO ASA

• Operator or active Partner

• Project-oriented Network

• Investments in Rigs and Oil Service

KEY STRATEGIES

PRESENTATION


SEMINAR

5. SEPTEMBER 2001

DNO ASA

”DNO shall be a leading, international niche player

DNO’S VISION

engaged in both the development ofsmaller oil & gas fields,

and in extended production andincreased recovery from mature

petroleum fields.”

PRESENTATION


SEMINAR

5. SEPTEMBER 2001

DNO ASA

BUSINESS STRUCTURE

DNO ASADNO ASA

Offshore & Services

Offshore & Services

Oil & GasOil & Gas

Det Norske Oljeselskap AS

Det Norske Oljeselskap AS

DNOInternational

DNOInternational

DNO Britain Ltd

DNO Britain Ltd

PDR ASA 37,2%IOT AS 100,0%Clampon AS 36,0%

PDR ASA 37,2%IOT AS 100,0%Clampon AS 36,0%

12 Petroleum Licenses

Staff = 130

+ Network Companies

PRESENTATION


SEMINAR

5. SEPTEMBER 2001

DNO ASA

UK

License Interest Operator

Heather 100.00% DNO

W. Heather 100.00% DNO

P. 250 100.00% DNO

Claymore 1.00% Talisman

Solan 3.70% Am. Hess

UK


Heather 100.00% DNO


P. 250 100.00% DNO



YEMEN


Tasour 41.00% DNO

Sharyoof 24.45% Dove Energy

YEMEN


Tasour 41.00% DNO


NORWAY

Lisence Interest Operator

Jotun 3.25% Exxon/Mobil

Glitne 10.00% Statoil

PL 203 15.00% N. Hydro

Tyr 10.00% Amerada Hess

PL 148 30.00% Amerada Hess

NORWAY




PL 203 15.00% N. Hydro



LICENSE PORTEFOLIO

PRESENTATION


SEMINAR

5. SEPTEMBER 2001

DNO ASA

• Introduction





PRESENTATION


SEMINAR

5. SEPTEMBER 2001

DNO ASA

Average Oil Production: 13.011 BOPD

Operating Revenue: MNOK 561,5

Free Cash Reserves as of June 2001: MNOK 474,5

EBITDA: MNOK 293,1

Operating Profit: MNOK 189,2

HIGHLIGHTS 1. H 2001

Bond Issue: MNOK 500

PRESENTATION


SEMINAR

5. SEPTEMBER 2001

DNO ASA

BOPD

6.303 6.695 6.0488.638

13.174 12.881

0

5.000

10.000

15.000

20.000

1. Q 00 2. Q 00 3. Q 00 4.Q 00 1. Q 01 2. Q. 01

OIL PRODUCTION 2000-2001

PRESENTATION


SEMINAR

5. SEPTEMBER 2001

DNO ASA

MNOK

-

50100

150

200

250300

350

1. Q 00 2. Q 00 3. Q 00 4. Q 00 1. Q 01 2. Q 01

OPERATING REVENUE

BUSINESS PERFORMANCE 2000-2001

PRESENTATION


SEMINAR

5. SEPTEMBER 2001

DNO ASA

MNOK

-

50100

150

200

250300

350

1. Q 00 2. Q 00 3. Q 00 4. Q 00 1. Q 01 2. Q 01

OPERATING REVENUE OPERATING PROFIT


PRESENTATION


SEMINAR

5. SEPTEMBER 2001

DNO ASA

MNOK

-

50100

150

200

250300

350

1. Q 00 2. Q 00 3. Q 00 4. Q 00 1. Q 01 2. Q 01

OPERATING REVENUE OPERATING PROFIT EBITDA


PRESENTATION


SEMINAR

5. SEPTEMBER 2001

DNO ASA

Main Financials 1. H 1. HNOK mill. 2001 2000Average Oil Production (BOPD) 13 011 6 604Operating Revenue 561,5 302,1 Operating Profit 189,2 90,9 Result before tax 161,4 98,5 Result after tax 67,9 67,5 EBITDA 293,1 133,1

1. H 2001

PRESENTATION


SEMINAR

5. SEPTEMBER 2001

DNO ASA

0

5000

10000

15000

1996 1997 1998 1999 2000 2001 *

BOPD

* 1 H 2001

OIL PRODUCTION 1996 - 2001

PRESENTATION


SEMINAR

5. SEPTEMBER 2001

DNO ASA

0

100

200

300

400

500

600

700

1996 1997 1998 1999 2000 2001 *

Operating Revenue

REVENUE & EBITDA 1996 - 2001

* 1 H 2001

MNOK

PRESENTATION


SEMINAR

5. SEPTEMBER 2001

DNO ASA

0

100

200

300

400

500

600

700

1996 1997 1998 1999 2000 2001 *

Operating RevenueEBITDA

REVENUE & EBITDA 1996 - 2001

* 1 H 2001

MNOK

PRESENTATION


SEMINAR

5. SEPTEMBER 2001

DNO ASA

0

500

1000

1500

2000

2500

3000

MNOK

140

DEC 1995

BOOK VALUE OF TOTAL ASSETS 1995 - 2001

PRESENTATION


SEMINAR

5. SEPTEMBER 2001

DNO ASA

0

500

1000

1500

2000

2500

3000

MNOK

140

2294

JUNE 2001DEC 1995

BOOK VALUE OF TOTAL ASSETS 1995 - 2001

PRESENTATION


SEMINAR

5. SEPTEMBER 2001

DNO ASA

• Introduction





PRESENTATION


SEMINAR

5. SEPTEMBER 2001

DNO ASA

UK


Heather 100.00% DNO


P. 250 100.00% DNO



UK


Heather 100.00% DNO


P. 250 100.00% DNO



LICENSEPORTEFOLIO - UK

PRESENTATION


SEMINAR

5. SEPTEMBER 2001

DNO ASA

UK LICENSES

PRESENTATION


SEMINAR

5. SEPTEMBER 2001

DNO ASA

HEATHER AREA

1

eyds

1 18

5

3

ALLION

206

272625

ND

20

1312

19BEATRICE

1207ShetlandIslands

6 7

CLAYMORE

14

CAPTAIN

ROSSTARTAN

SCOTT

DAUNTLESSDURWARD

BUCHAN

KITTIWAKEFORTIES

BRITANNIA,ALBA

EIDER

HEATHERPELICAN

CORMORANTHUDSON

TERN

DUNLIN/MERLIN

2

8

EMERALDNINIAN/

COLUMBA

BRAE AREASEDGWICK15

21

PIPER

ELGIN,FRANKLIN

ETAPGUILLEMOT

GANNET

16

22

BEINN

LYELL

9

3

BRUCENESSNEVIS

DUNBAR

CURLEW

4

10FRIGG

BERYLGRYPHON

HARDING

EAST BRAE

T BLOCK

MILLERKINGFISHER

LARCHBIRCH

MAUREENARMADA

BRENT

ELLON

BALMORAL,GLAMIS, STIRLING

MURCHISONSTATFJORD

STRATHSPEYALWYN NORTH

30MACHARERSKINE

23

EVEREST

PIERCELOMOND

MONTROSE,ARBROATHNELSON

HUTTON / NW HUTTON

JOANNE/JUDY

02000400060008000

10000

JAN FEB MAR APR MAI JUN

2/52/4 3/1

Heather Alpha

BOPD

Net to DNO

(100 %)

2001

PRESENTATION


SEMINAR

5. SEPTEMBER 2001

DNO ASA

2/52/4 3/1

P + P Reserves50 MILL. FAT

Heather Main

North Terrace

South-West Heather

South Terrace

Prospect with60 – 220 mill. bblsResource potential

HEATHER RESOURCES

+

SS “ PETROLIA”

West Heather

PRESENTATION


SEMINAR

5. SEPTEMBER 2001

DNO ASA

Heather + West Heather

Development Concept

HEATHER & WEST HEATHER

50 Mill. BOE

PRESENTATION


SEMINAR

5. SEPTEMBER 2001

DNO ASA

NORWAY




PL 203 15.00% N. Hydro



LICENSE PORTEFOLIO - NORWAY

PRESENTATION


SEMINAR

5. SEPTEMBER 2001

DNO ASA

NORWAY

JOTUN FIELD - 3.25 %

(EXXON/MOBIL OPERATOR)

GLITNE FIELD - 10,00 %

(STATOIL OPERATOR)

PL 203 - 15.00 %

(NORSK HYDRO OPERATOR)

PL 006C - 10.00 %

(BP OPERATOR)

PL 148 - 30.00 %

(AMERADA HESS OPERATOR)

PRESENTATION


SEMINAR

5. SEPTEMBER 2001

DNO ASA

JOTUN

20

60

40

0700 01 02 03 04 05 06 År

INITIAL RESERVERS: 190/33 MMBBL/BSCF

1508 09 10 11 12 13 14

80

100

120

140

160

180

Prod

uksj

on(k

bd)

990

10090

807060

50

40

3020

10

0

Van

ninn

hold

%

Olje Væske Vanninnhold

2000 PRODUCTION- 122.000 BOPD

FIRST OIL NOVEMBER 1999

PRESENTATION


SEMINAR

5. SEPTEMBER 2001

DNO ASA

JOTUN

0

2000

4000


BOPD

Net to DNO

(3.25 %)

Jotun PartnersExxon/Mobil (OP) : 45.00 %DNO : 3.25 %Enterprise : 45.00 %Conoco : 3.75 %SDØE : 3.00 %

2001

PRESENTATION


SEMINAR

5. SEPTEMBER 2001

DNO ASA

Reserves: 25 mill. BOE

Net to DNO 2,5 mill. BOE (10 %)

07.2001 01.2002 01.2003 01.2004

Sm3/dag

7000

6000

5000

4000

3000

2000

1000

0

Production Forecast

GLITNE

PRESENTATION


SEMINAR

5. SEPTEMBER 2001

DNO ASA

Statoil Operator 58.9%

DNO 10.0 %

Total/Elf/Fina 21.8%

Pelican 9.3%

GLITNE

First Oil 29 August 2001

PRESENTATION


SEMINAR

5. SEPTEMBER 2001

DNO ASA

Status:

Field Development Plan for gas late 2001

Development of oil resources now more likely

PL 203

Resources (Net to DNO):

Gas: 7 mill. BOE

Oil: 3 mill. BOE

PRESENTATION


SEMINAR

5. SEPTEMBER 2001

DNO ASA

TYR PROSPECT (PL 006 C)

Resource Potential:

(Net to DNO): 12 mill. BOE

Expected start of drilling:

November 2001

PRESENTATION


SEMINAR

5. SEPTEMBER 2001

DNO ASA

YEMEN


Tasour 41.00% DNO


LICENSE PORTEFOLIO - YEMEN

PRESENTATION


SEMINAR

5. SEPTEMBER 2001

DNO ASA

YEMEN

280.000 bopd production

PRESENTATION


SEMINAR

5. SEPTEMBER 2001

DNO ASA

YEMEN

Tasour Initial Reserves: 8 Mill. BOE (DNO 3.1 Mill. BOE)

Sharyoof Initial Reserves: 25 Mill. BOE (DNO 6.1 Mill. BOE)

SharyoofSharyoof

TasourTasour

PRESENTATION


SEMINAR

5. SEPTEMBER 2001

DNO ASA

YEMEN

0200040006000


BOPD

Net to DNO

2001

Tasour

Fast Track Development - 9 months - MUSD 15

First Oil November 2000

PRESENTATION


SEMINAR

5. SEPTEMBER 2001

DNO ASA

• Introduction





PRESENTATION


SEMINAR

5. SEPTEMBER 2001

DNO ASA

• First Oil on Glitne

MAIN ACTIVITIES 2 H 2001

• Drilling on West Heather

• Drilling in the Tasour Area

• PDO on PL 203

• First Oil on Sharyoof

• Drilling the ”Tyr” Prospect

PRESENTATION


SEMINAR

5. SEPTEMBER 2001

DNO ASA

67

-2,3

10

74,7

-10

10

30

50

70

90

110

AS OF JANUARY 2001PRODUCED 1 H 2001PL 203AS OF JUNE 2001

DNO RESERVES (P+P)

AS OF JUNE 2001MILL BOE

PRESENTATION


SEMINAR

5. SEPTEMBER 2001

DNO ASA

74,7

120

12

0

50

100

150

200

250

TYRWEST HEATHER (P50)AS OF JUNE 2001

DNO RESOURCE POTENTIAL

MILL BOE

PRESENTATION


SEMINAR

5. SEPTEMBER 2001

DNO ASA

• Niche Oil Company

DNO ASA

• Substantial expansion during past 5 years

• Solid basis for further growth

PRESENTATION


SEMINAR

5. SEPTEMBER 2001

DNO ASA

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