Professional Documents
Culture Documents
12 May 2006
Fondsfinans
Company Background
Extensive due diligence prosess and initial financing until September 2005
by the founders Nils N. Trulsvik, Gian Angelo Perrucci and Mrten Rd
Equity issue of USD 45 mill. together with debt financing of USD 42 mill.
12 May 2006
Fondsfinans
Key Data
Production (April 2006)
Peru
Colombia
Total
2 500 bbl.
1 057 bbl.
3 557 bbl.
Fondsfinans
Latin America is under-explored with large oil and gas reserve potential
- Only 11% of Colombias total sedimentary area has been licensed : Oil & Gas Conference,
Cartagena, May 2005
Fondsfinans
Organizational development
o Build up local technical and operational competence in order to facilitate local
demands and keep costs to a minimum
o Build up a small and effective multi-disciplinary team of key professionals and
outsource all services to the extent practical
12 May 2006
Fondsfinans
Nils N Trulsvik
Managing Director
Fredrik von Zernichow
Petroleum Econ. / IR
Jon Wiggen
CFO
Ren Graf
CTO
InterOil E&P
Africa AS
InterOil E&P
Latin America AS
Peru
Pedro Timana
General Manager
Number of staff: 80
12 May 2006
Pascal Berthou
General Manager
Colombia
Mauricio de la Mora
General Manager
Number of staff: 46
Angola
Fondsfinans
Congo
12 May 2006
Fondsfinans
INOX
Q4 2005
Proforma
Year 2005
221 367
927 920
144 249
611 311
Operating revenue
7 991
28 495
EBITDA
3 200
18 900
-100
Capitalised Expenditures
3 500
12 May 2006
Fondsfinans
8 800
Political: Republic
Capital:
Bogota
Political: Republic
Capital:
Lima
Fondsfinans
Peruvian assets
Block IV
Number of Employees
Total number of wells
Area
80
approx. 800
164,000 acres (663 km2)
Production
Production
Annual production
000 bbl
623
465
1,706
1,275
OPEX
000 USD
3,074
2,351
OPEX
USD/bbl
4.9
5.1
Reserves
RESERVE CATEGORY / BLOCK
Block III
2004
bbl/d
2005
PERU TOTAL
10,4
6,0
Corporate tax: 30 %
1)
2)
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Fondsfinans
10
Colombian assets
Number of employees
Wells in production
Area
46
42
62,945 acres (258 km2)
Production
Production
Annual production
2005
000 bbl
305
290
bbl/d
836
794
OPEX
000 USD
2,303
1,546
OPEX
USD/bbl
7.5
5.3
Reserves
RESERVE CATEGORY
2004
COLOMBIA TOTAL
5,6
4,7
12 May 2006
Fondsfinans
11
Modification of planned
program dependent on
success factors
6
5
Colombia
4
3
2
Peru
1
0
2001
12 May 2006
2002
2003
2004
2 005
2006E
2007E
2008E
2009E
2010E
Fondsfinans
12
USDm
20.0
18.0
16.0
14.0
Colombia
Colombia
12.0
10.0
8.0
6.0
Peru
Peru
4.0
2.0
0.0
2001
12 May 2006
2002
2003
2004
Fondsfinans
13
USD 11 million
7 New Wells
20 24 rehabilitations
20 24 workovers
14 20 workovers
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Fondsfinans
14
Block IV
Area of Focus
Block III
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Fondsfinans
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Well location
Drilled
Well 13004
Well 13006
Well 13009
To be Drilled 2006
Well 13014
Well 13018
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Fondsfinans
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Well location
Drilled:
Well 12612
Well 12616
Well 12617
Well 12618
To be drilled (2006)
Well 12619
Well 12621
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Fondsfinans
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Fondsfinans
18
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Fondsfinans
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12 May 2006
5 km
Fondsfinans
20
3D: ~ 80 km2
~ 2.7 MM USD
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Fondsfinans
21
12 May 2006
Fondsfinans
22
Colombia
9
9
9
9
9
9
9
9
9
Review and refine the sedimentological model together with staff in Bogot
Calibrate the seismic data with well logs
Refine the quick interpretation done based on 2D-lines, establish an agreed fault system
On-the-job training for local staff in seismic interpretation
Get and load all production data into Geographix production database
Consider a 3D-seismic survey
Discuss with Ecopetrol and ANH the possibility of swapping commitment wells for 3D-seismic
Consider a Spectraseis survey to directly map hydrocarbons
Check possibility of drilling horizontal wells
12 May 2006
Fondsfinans
23
Angola Licensing
Interoil Awarded (May 10th, 2006)
40% Block 5
20% Block 6
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Fondsfinans
24
Angola Block 5
Block 5 Angola
5708 km
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Fondsfinans
25
Angola Block 6
Block 6 Angola
4930 km
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Fondsfinans
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%Ownership
5 225 000
24,59
EKSPORTCONSULT AS
5 225 000
24,59
Mrten Rd
1 870 600
8,80
1 618 800
7,62
800 000
3,77
NORINVEST LTD
500 000
2,35
AWILCO INVEST AS
450 000
2,12
MUSLIK AS
443 450
2,09
400 000
1,88
STOREBRAND LIVSFORSIKRING AS
392 420
1,85
387 800
1,83
319 200
1,50
AWECO INVEST AS
300 000
1,41
281 250
1,32
CONSAFE INVEST AB
275 000
1,29
269 500
1,27
200 000
0,94
KLP AKSJENORGE
120 000
0,56
FOLLUM INVEST AS
100 000
0,47
98 750
0,46
INTERTRADE SHIPPING AS
97 500
0,46
19 374 270
91,19
Total
Number of shareholders
119
21 450 000
12 May 2006
Fondsfinans
Nils N Trulsvik
27
Large growth
potential
Positioned to grow
in West Africa
Experienced team
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Fondsfinans
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