2011 London Annual Investor General Briefing Meeting February 2011 31 May 2011
Company Highlights Active exploration programs in Morocco and Australia with multiple drill ready prospects Worldwide petroleum consultants, Netherland Sewell and Associates Inc. (NSAI) conducting an independent evaluation of…
Why Morocco Northern extension to West African oil Circle Oil KSR-11 fields Gas Discovery Morocco is a net importer of both oil 2011 and gas Morocco pays parity price for oil Morocco encourages foreign investment Morocco has good…
Tarfaya will transform Tangiers Very large exploration block of 15,000km Under-explored location, with only 4 wells drilled (i.e. 1 well per 3,750km, 3 wells 1960s, 1 commitment well in 1985) All wells had hydrocarbon shows…
Tarfaya Permit Statistics The Tarfaya Offshore Block comprises of 8 individual permits covering 15,000km Water depth generally less than 200 metres The block is on trend to the Cap Juby field which is 23 kilometres to the west…
Tarfaya Prospectivity Mature project with large structures and abundant hydrocarbon indications Multiple prospects and leads Oil Shale Multiple play types Multiple objectives Proven source rocks Proven generation Proven…
Multiple Objectives and Play Types Contains all the elements necessary for successful hydrocarbon fields (source, trap, seal, migration, reservoir) 4 Prospects identified in the Upper, Middle, and Lower Jurassic intervals 2…
Stratigraphy Zeus Assaka Trident TMA/La Dam 10
Hydrocarbon Indications Onshore oil shale mine Reported oil seep Cap Juby Oil Field Oil Seep Oil Shale Mine 11
Coastal Oil Shale Mine 12
Upper, Middle, Lower Jurassic Prospects Assaka Prospect Trident Prospect Top Kimmeridgian 5 Top Bathonian 5 TMA Prospect La Dam Prospect Top Toarcian 7 Top Toarcian 7 13
Upper, Middle, Lower Jurassic Prospects NW Line 04TS-178 SE NW Line 04TS-178 SE Top Jurassic Top Jurassic Assaka Upper Jurassic Trident Upper Jurassic Middle Jurassic Middle Jurassic Lower Jurassic Lower Jurassic NW Line…
Top Jurassic Zeus Prospects New play concept at Top Jurassic Fractured dolomite reservoir Little Zeus Area =50 Sq km Large upside potential CI=20 ms Crest 1.2 ms Closure 30ms NW Line 04TS-214 SE Zeus Prospect Area 170 Sq km…
Tarfaya Block Cretaceous Leads As mapped by Shell (1992) Stacked sand units with upwards of 25% porosity Majority of Tarfaya Block yet to be evaluated 16
3D Seismic Movie La Dam 17
Tarfaya Seismic Program The Tarfaya Basin has an extensive seismic grid 12,500 km of 2D Seismic 580 km of 3D Seismic 3D seismic covers one of the primary prospects La Dam Data Reprocessed by Fugro 2,209 km 2D seismic…
Seismic Reprocessing (20 May 2011) 2D 3D 19
Netherland Sewell & Associates Independent report NSAI conducted an independent report on the initial prospects La Dam, Assaka, TMA and Trident. Gross (100 Percent) Unrisked Prospective Oil Resources (Million Barrels of Oil)* Low…
Morocco Work Program Period 1 2 years (Dec 2009 to May 2012) Reprocess 250 km2 3D and 2,000 km 2D seismic data Undertake Geotechnical studies Acquire 500 km2 3D seismic data Period 2 2 years (Jun 2012 to May 2014) Drill one…
Turtle Barnett Overview Multiple oil bearing reservoirs intersected on the Turtle Barnett Total Area structures 3,900 km2 Produced 792-920 BOPD (38 API) on drill stem test Evaluating new deep gas play concepts at the Milligan Fan…
Turtle Barnett Schematic Cross Section and STOIP Distribution 23
Turtle Barnett Stratigraphy Milligans Deep Fan Play Bonaparte Deep Gas Play 24
Turtle Barnett Well Tie Traverse N S W E Bonaparte Deep Play 25
Turtle Barnett Deep Fan Play SW 89BO-29A NE Tanmurra Deep Fan Bonaparte Fm Bonaparte Deep Play 26
Turtle Barnett Seismic Program Data Being Reprocessed by Quantum Geophysics 3,200 km 2D Seismic 64 km2 3D Seismic WA-442-P NT/P81 Expected completion Q3 2011 Proposed 3D Survey 320 km2 27
Turtle Barnett Reprocessing (23 May 2011) 28
Turtle Barnett Proposed 3-D 320 km2 29
Turtle Barnett Commitment WA-442-P Work Commitment NT/P81 Work Commitment (Commencing 14/4/2010) (Commencing 13/5/2010) Primary Term Primary Term Year 1 Reprocess all existing 2D in Year 1 Reprocess 2D/3D, Geotechnical permit…
Planned Q3 Activities Tarfaya Independent resource review of Zeus/Little Zeus Cretaceous scoping work to be finalised and new leads developed Vintage 2D and 3D re-processing to be completed 3D Seismic program to be finalised,…
Directors Mr Mark Ceglinski Mr Graham Anderson Chairman Nonexecutive Director Mr Ceglinski is a corporate finance executive and Company Director. Mr Graham Anderson is a graduate of Curtin University and has over 25 years commercial…
Corporate Information Registered Office Suite 2, Mezzanine Floor 35-37 Havelock Street West Perth WA 6005 Postal Address PO Box 389 West Perth WA 6005 Telephone: +61 8 9322 2700 Facsimile: +61 8 9322 7211 Web:…