Dno Asa Class A · OSL:DNO

Dno Asa Class A — DNO International — Investor Day (2008)

10 slides from Dno Asa Class A's investor day presentation, 2008

  1. Slide 1: Global Competition

    CAPITAL MARKETS DAY 2008 GLOBAL COMPETITION

  2. Slide 2: Competing in a Global Environment: Key Attributes

    COMPETING IN A GLOBAL ENVIRONMENT EXPLORATION DRIVEN STRATEGY • With suitable risk mitigation VALUE CREATION KEY ATTRIBUTES ENTREPRENEURIAL COMPANY • Quick decisions/Risk taker OPERATING COMPANY • Controlling the asset base FOCUS ON LOW COST/HIGH MARGINS • Onshore fields desired basins

  3. Slide 3: Market Capitalization and Reserves

    Market capitalization (USD billion) 0 2 4 6 8 10 Tullow Oil Cairn Lundin Oil Soco International Maurel et Prom MARKET CAPITALIZATION AND RESERVES Premier Domestic Reserves Dana Venture INTERNATIONAL PEER GROUP DNO PA Resources International Reserves Melrose Resources Revus Noreco CAPITAL MARKETS DAY

  4. Slide 4: Exploration Driven Company

    EXPLORATION DRIVEN COMPANY PROMOTE EXPLORATION PRODUCTION Market Value Acquire Explore Appraise Development commitment Develop and produce E&P Cycle CAPITAL MARKETS DAY 2008 │ 4

  5. Slide 5: Adding Value Through the Drill Bit

    ADDING VALUE THROUGH THE DRILL BIT CLASS 1-5 RESERVES* DNO ANNUAL AVERAGE FD&A COST 150 10 120 8 90 6 USD/boe MBOE 60 4 30 2 0 0 2005 2006 2007 2004 2005 2006 2007 *Continued operations, excluding associated reserves CAPITAL MARKETS DAY 2008 │ 5

  6. Slide 6: Controlling Operations Internationally

    CONTROLLING OPERATIONS INTERNATIONALLY POSITIONING OF AN INTERNATIONAL E&P COMPANY DNO Operator Cairn Venture Soco Muriel&Prom PA Resources Lundin Premier Dana Noreco Tullow Partner Revus AIM Companies Domestic International CAPITAL MARKETS DAY 2008 │ 6

  7. Slide 7: Controlling the Pace of Development

    CONTROLLING THE PACE OF DEVELOPMENT PROJECT TIMING Tullow Uganda Nexen Buzzard Cairn India Tullow Ghana DNO Yemen DNO Iraq 2 4 6 8 10 Number of Years CAPITAL MARKETS DAY 2008 │ 7

  8. Slide 8: Cost Efficiency Drives Recycle Ratios

    COST EFFICIENCY DRIVES RECYCLE RATIOS RECYCLE RATIO NETBACK PER BARREL 5 25 4 20 3 15 Times USD 2 10 1 5 0 0 2005 2006 2007 2005 2006 2007 CAPITAL MARKETS DAY 2008 │ 8

  9. Slide 9: Total Shareholder Return

    TOTAL SHAREHOLDER RETURN COMPOUND ANNUAL GROWTH RATE (2003-2007) 109,0 87,2 65,4 Percent 43,6 21,8 0 DNO Lundin Oil Tullow Oil Cairn Venture Dana Soco Maurel et Prom Premier Melrose Resources CAPITAL MARKETS DAY 2008 │ 9

  10. Slide 10: Disclaimer: Forward Looking Statement

    DISCLAIMER: FORWARD LOOKING STATEMENT This Presentation includes and is based, inter alia, on forward-looking information and statements that are subject to risks and uncertainties that could cause actual results to differ. These statements and this Presentation are based on current expectations, est

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