9:00 - 9:20
Chairman’s Introduction

Chris Prior, Partner, LeBoeuf, Lamb, Greene & MacRae

9:20 - 9:30
Opening Remarks

Brian C Nixon, Director of Energy, Scottish Enterprise

9:30 - 10:15
The future of the UKCS – Activity levels up to 2030

• Understand how the price of oil & gas effects your business in the North Sea
• Hear about the potential level of production from both new discoveries and brownfield developments – and how to plan your North Sea strategy accordingly
• Find out how your company can help to achieve the PILOT production targets
• Evaluate the importance of the recent PILOT initiatives including those on: fallow blocks/discoveries, Infrastructure Code of Practice and Stewardship – and their impact on your business in the North Sea

Alex Kemp, Professor of Petroleum Economics, University of Aberdeen

11:00 -11:30
The DTI – maximising UKCS production for years to come!

• Find out how the reforms to the fallow field initiative are designed to speed up the development of older reserves and how this will affect your North Sea operation
• Learn about the recently launched stewardshipinitiative, how it aims to maximise production from existing fields and how your business can profit!
• Hear about the latest UKCS licensing round, discover how you can take an advantage of upcoming rounds including information about the new licence types that are sparking interest in unexplored areas of the North Sea
• Understand the latest changes to the regulatory
  requirements and how they will impact your company

Peter Haile, Deputy Director, DTI

11:15 - 12:00
Maximising NCS opportunities for operators - Facilitating long-term A&D activity

• Learn about the remaining production potential of the NCS, the NPD’s production targets for the next 25-50 years and how your company take advantage of the opportunities
• Hear how the NPD licensing rounds allow you to take advantage of the future exploration, EOR and late life opportunities in the Norwegian North Sea
• Find out how the NPD are ensuring long term productivity by encouraging companies to maximise production from mature assets or to sell them!
• Understand how you company can access infrastructure in the NCS and maximise Norwegian production

Rolf Wiborg, Chief Engineer and Senior Advisor, NPD

• From debt to equity and everything in between - Hear about the different options available for new entrant financing in the North Sea
• Hear how to stand out from the crowd and differentiate your company from your competition when sourcing fund raising in a lenders market
• Hear about a recent successful LLGM case study where the company involved sourced adequate funds and entered the North Sea successfully

Nicholas Kelly, Associate, LeBoeuf, Lamb, Greene & MacRae

2:00 - 2:30
CASE STUDY Ongoing exploration and development trends in the NCS

• Find out why the increased demand for energy, strict environmental requirements and the desire to maintain technological competences is causing operators are taking on more challenging opportunities in the NCS because of
• Unlocking the Barents Sea, the Arctic region north of Norway and Russia – Learn why more companies are taking on frontier exploration in areas with higher geological risk more hostile environments – and the importance of ensuring clean operations
• Hear about the development of new technologies
  including: solutions for flow-assurance over long
  distances and subsea methods for installation of
  flowlines on uneven sea beds are helping to develop
  fields in demanding locations
• Learn about recent field development trends in the NCS
  including information on drilling of extreme long reach
  production wells with conventional well design and the
  future use of monodiameter wells that will make longer
  wells possible
• Discover how to improve support and decision
  processes with high capacity communication systems
  and use of operation centre technology

Morten Mikkelsen, Strategy Director, Norsk Hydro

2:30 - 3:00
CASE STUDY The development of oil and gas fields in the North Sea - $335 million equity fund

• Learn how to fund up to 100% of the required development capex to bring an undeveloped discovery into production and deliver the technical resources to engineer and execute the field development plan
• Understand how current owners of undeveloped discoveries can take advantage of a higher value alternative to disposal
• Hear how exploration focused companies (such as promote license holders) can take a route towards production and cash flow without tying up their resources
• Find out about the Wareham/Wytch Farm case study and hear how EDP successfully executed a work programme on the BP site.

Tom Reynolds, Commercial Director Energy Development Partners Limited

3:00 - 3:30
Financial Risk Management

• Discover how to understand and evaluate movements in interest rates and FX that causes volatility in earnings
• Find out how to build a flexible hedging strategy that is aligned to your corporate objectives and promotes stable returns and understand why some strategies work better than others
• Learn how to identify and exploit any natural hedges already within your business
• Evaluate the differing prices and rates provided by banks ensuring fair and competitive pricing of hedging instruments
• Work through a case study application of FX hedging which will illustrate an optimal hedging strategy and discuss the pros and cons of adopting such an approach

James Stretton, Director, J. C. Rathbone Associates Ltd

4:00 - 4:30
Private Equity in the North Sea - What’s Up?

• Take away a complete overview of the private equity market over the last year
• Find out which company’s have been funded, the strategies they used to stand out from the crowd and why the equity providers chose them above others
• Understand what a private equity player looks for in a management team and an investment opportunity and how your company can plan its strategy and pitch accordingly
• Case study of a recent Lime Rock investment and the key features that differentiated that one opportunity from the others

Simon Munro, Principle, Lime Rock Partners

4:30 - 17:00
Discover how your company can value assets accurately and quickly

• Understand the level of commitment that is needed by
  your company to fully evaluate and value an acquisition
  opportunity and its impact on your internal resources
• Learn why in a highly competitive acquisition market
  your company will need to evaluate a large number
  of acquisition opportunities to find the right one - and
  how to make this process as quick and accurate as
  possible!
• Hear how a high level of screening & data gathering
  can not only be time and cost effective but allows a
  more focused evaluation approach of the seller’s data if
  an acquisition decision is taken

Andy Crouch, CEO, Gaffney Cline & Associates

17:00 - 17:30
Hear what banks can offer

• Discover the criteria being used by financiers for
  securing finance in a competitive acquisition and
  development market
• Hear about and understand the different funding
  products available to your company including:
  traditional debt, mezzanine finance, equity and a
  full examination of the different term and conditions
  on offer
• Learn what information you will need to prepare when
  applying for finance, the factors that will influence the
  lender’s decisions and how you can differentiate your
  company from the crowd

Steve Mills, Head of Oil & Gas Project Finance, Royal Bank of Scotland

9:00 - 9:20
Chairman’s Thoughts on Day 2

Chris Prior, Partner, LeBoeuf, Lamb, Greene & MacRae

9:20 - 10:00
Sustaining success in a mature province

After 40 years of production the UKCS is still a national asset which will provide energy and employment for generations to come. Over £220 billion has been invested and the North Sea has contributed over £200 billion in taxes and spent over £110 billion in Operations.

• Understand the importance of the continued investment and commitment of individual companies, small and large, in maximising recovery and pushing back decommissioning
• Despite current levels investment the rate of production is halving every years decline – Find out how your company can take up the challenge of stemming the declining production in the North Sea
• Understand why a stable fiscal regime is vital in attracting new investors – who are now making a substantial contribution to the future of the UKCS
• Learn how the industry must act to sustain the global competitiveness of the UKCS by continuing to unlock the value of our mature assets and by increasing the rate of development in exploration and new developments
• Find out how your company can take advantage of up to 28 billion boe of oil still up for grabs in the North Sea

Augustin Rivara, Official Issue Manager, UKOOA

10:00 - 10:30
CASE STUDY BP’s North Sea Asset Management

• Hear about BP’s current asset strategy in the North Sea, including information on upcoming divestments, farm-in and production sharing agreements
• Learn how important the price of oil is in BP’s North Sea divestment decisions
• Find out how the fallow fields and stewardship initiatives are effecting BP’s production and divestment strategy in the North Sea

Ian House, Business Development Manager, BP

11:00 -11:30
CASE STUDY Building a Successful Exploration Business in the North Sea

• Hear how Faroe Petroleum have structured their Atlantic Margin exploration business model and understand how they took the business from an opportunity to reality
• Find out about the importance of strong partnerships and relationships with established North Sea players and how this will make your North Sea business a success
• Discover how Faroe Petroleum raised adequate finance for the company using different sources including: private equity and the IPO
• Understand the importance of having a focused entry strategy and taking the portfolio approach to the success of your strategy in the North Sea

Graham Stewart, CEO, Faroe Petroleum

• Learn about Centrica’s upstream strategy that builds on its existing gas and oil production operations, onshore and offshore, within the UK Continental Shelf
• Learn how Centrica Energy has used acquisition or disposal interests to ensure a portfolio that is a good fit with Centrica’s gas supply position.
• Understand how Centrica Energy plans the forward development of their assets for maximum long-term benefit
• Hear how Centrica Energy aim to ensure security of supply by investing in the infrastructure to support major gas imports

John Shears, Director of Upstream Production & Development, Centrica

• Understand the importance of a focused North Sea strategy when bidding for licenses, acquiring North Sea assets and sourcing funding.
• Learn how to structure acquisition deals in the North Sea for maximum success.
• Consider how to establish relationships with established North Sea players and benefit from farmins, jv’s and transportation agreements.

Bob Ruddiman, Partner, Ledingham Chalmers Energy

• Discover what the current UK tax regime means for your company in the North including information on Petroleum Revenue Tax, Ring Fence, supplementary charge and allowances on investment
• Compare the differences between the UK and Norwegian tax systems and their different impacts on your company in the North Sea
• Find out the best ways to manage your taxes better when financing and selling assets, how to mitigate negative effects and how your choice of Project Finance will affect your company’s tax payments
• Hear how to structure the transaction and documentations from pre-sale tax planning advice for a seller through to post-acquisition tax planning for the buyer
• Understand the recent trends and future of taxation and in deal structuring in the North Sea

Roman Webber, Director International Tax, Deloitte & Touche LLP

2:30 - 3:00
CASE STUDY Risky Business

• Learn how to identify, analyse and address the price, reserves and production potential risks when buying assets in the North Sea
• Analyse the importance of contractual risk management in mitigating the risk of oil and gas deals in the North Sea
• Learn how to understand environment you are investing in – whether seller or buyer biased – and ensure that you are aware of the key risk factors in making a purchase decision

Rob Shepherd, Senior Vice President , ABN AMRO

3:00 - 3:30
CASE STUDY Reach for the Sky – the Petro-Canada / Reach joint partnership

Understand how Petro-Canada identified the right partner in Reach Exploration, structured the right deal and maximised their joint resources to create a successful portfolio:

• Understand the ins and outs of blending the philosophies of an established player and a promote company
• Learn how to be part of a win - win strategy to build a portfolio with an existing player
• Find out how you can streamline your legal, tax and commercial review
• Discover their success the partnership has had and find out how the relationship may develop in the future

Sean Rush, Senior Legal Counsel, Petro-Canada UK Limited

4:00 - 4:30
AIM high – by sourcing alternative financing your company

• Find out the companies that have successfully sourced up to hundreds of millions £’s in alternative financing by listing on AIM
• Understand the process involved to list on AIM and source up to one hundred million £’s in additional finance for your company
• Learn about the regulatory advantages and disadvantages of using AIM as a financing source for  your company
• Hear case studies of how AIM has been used successfully as an additional financing source for North Sea businesses!
• Learn about the market and strategic trends that companies on AIM tend to follow – how to avoid the mistakes they make and follow their successes

Craig Beattie, Assistant Director, Mergers & Acquisitions, Ernst & Young

4:30 - 17:00
PANEL DISCUSSION Same Asset – Different Valuations

• Find out why some companies place a higher value
  on an asset than others and how can apply this to the
  success of your acquisition strategy
• Understand how different E&P strategies affect the
  definition of an under-invested asset
• Discover the importance of tracking their strategies
  and asset productivity rate of the larger players in the
  North Sea – and how this can make your company the
  frontrunner when assets become available
• Learn why finding the right type asset for your company
  is crucial to strategic success in the North Sea

Stuart Paton, Commercial Manager, Dana Petroleum
Mike Wagstaff, CEO, Venture Production
Iain House, Business Development Manager, BP
Craig Beattie, Assistant Director, Mergers & Acquisitions, Ernst & Young