Company Presentation: Pareto E&P Independents Conference 13 March 2014
The Investment Case for African Petroleum About Us Whats Changed Why Today High Impact Exploration (5.2bn barrels New Governance new Chairman, CEO, Attractive valuation in the market unrisked*) Finance Director Diverse portfolio options…
Whats New in 2014 Board Re-organised, Majority Independent, New Corporate Governance Structure being implemented New Board Members and Senior Management in 2013 / 14 Charles Matthews, OBE: Chairman Over 10 years experience in chairman…
Blue Chip Shareholder Base Australia Walker Crips Stockbrokers Knighthead Capital Mgt Colonial First State WMG Capital Lighthouse Partners UK Marquest Asset Mgt Amiya Capital Europe Perella Weinberg Partners BlackRock Investment Mgt…
African Petroleum Assets & Portfolio West African Transform Margin APCLs Operations 2014 Totals Countries 4 Licenses 8 Net Acreage 28,295km2 Sierra Working interest 81-100% Leone 434 Estimated Net 5.2 Bnbbls* Unrisked…
APCLs Portfolio Growth of Net Unrisked MMstb Cte dIvoire Future Material growth in number of licences and prospects since 2011 2,393 5,224 Senegal and Sierra Leone Resources MMstb MMstb to be added post 3D Seismic Sierra…
APCLs Net Acreage Position relative to other Major Operators in West Africa Sierra Leone Liberia Operated offshore acreage in km2 Operated offshore acreage in km2 Operators Operators Senegal Cte dIvoire Operated offshore acreage in…
High Success Rate and Upcoming Activity throughout APCLs Focus Area Activity between 2010-16 2010 - 2013 * 28 Discoveries 2014 - 2016 Wells 63 Planned Historic Wells 12 drilled Exploration 73% Success Wells 9 drilled…
Strategic Focus The Way Forward Current 12 months Future 36 months Long Term 5 years Objective: Consolidate Position: Maximise Objective: Develop Our High-Potential Assets Objective: Commercialise & Expand Efficiency of External…
Liberia LB-08 and LB-09 Key Prospect LB-10 Narina-1 Appraisal Anadarko/ Mitsubishi/ Repsol wells planned 2014 Attractive early mover fiscal terms 5 discoveries in the Liberia Sierra Leone basin Narina-1 oil discovery in…
Liberia Block 9 - Night Heron Prospect Prospect Night Heron Block LB-09 D Night Heron D Bee Eater-1 Licence Area 2,634km2 Water Depth 1000-2300m Campanian Play Fairway Turonian Mean Prospective Unrisked Resources 759 MMstb* Turonian…
Liberia Block 9 Narina West Narina-1 21 metres net pay Turonian (37 API) Prospect Narina West Updated CPR Narina West 184 MMstb (mean unrisked prospective Block LB09 resource) Licence Area 2,634km2 Lateral limit - stratigraphic…
Sierra Leone SL-03 and SL-4A-10 Block SL-03 covered by 3D, SL-04A-10 2D coverage and partial 3D New infill 2D available Q2 2014, potential new seismic acquisition over SL-04A-10 Prospective at multiple levels within the…
Sierra Leone SL 04/03 Vega Lead Prospect Vega Block SL-03 & SL-4A-10 License Area 5,855 km2 Water Depth 3500-3800m Play Fairway Campanian Vega Vega Lead A A N SW NE Top Campanian Depth Structure SL-03 A Vega N…
Cte dIvoire CI-509 and CI-513 High quality 3D seismic has been acquired on a proprietary basis over Cte dIvoire blocks The final processing product, the PSDM will be delivered in March 2014 Commercial size primary prospects…
Senegal ROP and SOSP High potential frontier exploration area Industry drilling activity on trend in 2014 (Mauritania, Senegal, AGC) Multiple plays -Cretaceous deep-water fan systems and platform margin carbonates Extensive 3D…
Poised to Recommence Drilling Initial Refinancing Value Growth through Partnering and Drilling Program Execution Private Placement Value Initial Partnering Drilling Drilling Program Execution Public Listing on new exchange Refinancing…
Operational Timeline: History and Outlook Control Over Direction & Execution of Exploration Strategy Control Over Direction & Execution of Exploration Strategy West African Focus Africa & Beyond FIRST OIL* Seismic Drill…
Corporate Social Responsibility, examples in action Sightsavers Gbowee Peace Foundation University of Liberia Student Sponsorship Computer Lab APCL sponsored trainees Worked with Nobel G&G scholarship, will deliver preventative eye…
Why Today Primed for Growth: A Uniquely Attractive Investment Proposition Operational New Wave of Volume Potential Value Environment Exploration 5.2 billion barrels net Low-cost deep-water We are seeking partners to 16 exploration…
Q&A 22
Appendix: Sierra Leone SL-03 Altair Prospect Altair C C Altair has excellent trap geometry, fed by up-dip canyon Amplitude supported - evidence for good reservoir and possible hydrocarbons Working petroleum system proven by offset…
Appendix: Cte dIvoire CI-513 Ayam Prospect Prospect Ayam/ Ayam West Block CI-513 License Area 1,446km2 Water Depth 900-3150m Play Fairway Turonian Mean Prospective Unrisked Resources 922* MMstb Ayam/ Ayam West B B B 9++B(C'(…
Appendix: Senegal Sangomar Drilling Q1/Q2 2014 Clastic fan play and carbonate margin play Cairn/CoP/FAR* Modified from Daison (2005) Two wells will be drilled in Q1/Q2 2014 in Sangomar Success here will have a positive…
Appendix: Senegal SOSP N Recent work on the final 3D volume has revealed multiple carbonate leads A pre-stack depth migration is expected to enhance the ability to de-risk these prospects Eroded Reef and fore-Reef 10km…
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