About African Petroleum Corporation Significant net acreage holder in West African Transform Margin (4 countries, 8 licences) Exposed 5.2bn barrels unrisked resources liquid rich diverse portfolio* 81100% working interest Strong…
Experienced Management Team and Organisation Charles Matthews, OBE: NonExecutive Chairman Over 10 years of experience in chairman and director positions Charles is currently Chairman on LSE listed Porvair Plc, he has previously held…
Strategic Focus The Way Forward Current 12 months Future 36 months Long Term 5 years Objective: Consolidate Position Objective: Develop Our High Objective: Assuming Success, New Management & Potential Assets Commercialise & Expand…
Strategic Steps to Success: Entering a New Phase Exploration led strategy leveraging a balanced portfolio of high impact prospects/plays and new acreage capture. X-ray focus on sustainable value growth and shareholder returns with…
African Petroleum Assets & Portfolio West African Transform Margin APCLs 2014 Totals Operations Countries 4 Sierra Licenses 8 Leone 434 Net Acreage 28,295km2 Working 81100% Cte interest Liberia dIvoire 3230 1560 Estimated…
APCLs Net Acreage Position relative to other Listed Operators in West Africa Liberia Sierra Leone Operated offshore acreage in km2 No. 1 Operated offshore acreage in km2 No. 1 Operators Operators Cte dIvoire APCLs countries combined…
APCLs Portfolio Growth of Net Unrisked MMstb Current Cte Material growth in a dIvoire number of licences and prospects since 2011 2,393 5,224 MMstb MMstb Future Senegal and Sierra Leone Sierra Liberia Leone Resources to be…
High Success Rate & Activity throughout APCLs Focus Area Activity between 201016 2010 2013 28 Discoveries 2014 2016 63 Wells Planned Historic 12 Wells drilled 73% Exploration Success 9 Wells drilled 67% Exploration…
Entering the third phase of West African Transform Margin Exploration In 2014, a new wave of A Schematic Section exploration targeting outboard and downdip (deeper water) will commence Anticipate that there will be better…
Diverse Exploration Plays in APCLs Asset Portfolio Inventory has a range Commercial threshold for FPSO deepwater oil development of technical maturity Turonian Third party drilling in Cenomanian 2014 in adjacent acreage,…
African Petroleum Third Party Triggers Dolphin Cayar Offshore Profond and St Louis Offshore Profond Positive results Kosmos farmin Timis Corp for Awaiting results 60% equity **** Deferred well to 2015 Sangomar:COP/Cairn/FAR Oil…
Liberia LB08 and LB09 Attractive early mover Key fiscal terms Key appraisal Prospect 4 discoveries in the Key Liberia Sierra Leone Prospect basin by others Narina1 oil discovery in LB09, found 31 metres net pay in 2…
Liberia LB09: Narina West Appraisal Narina1 found 31 metres net pay Turonian Prospect Narina West and underlying Albian reservoirs (3840 API) Block LB09 Updated CPR Narina West at 184 MMstb Licence Area 2,634km2 (mean unrisked…
Liberia LB09: Night Heron Prospect Night Heron Prospect Prospect Night Heron Block LB09 Bee Eater1 Licence Area 2,634km2 Seabed Campanian Water Depth 10002300m Play Fairway Turonian Turonian SF Santonian Mean Prospective Unrisked 759…
Liberia Block 8 & 9 New Prospects and Ghana Analogue in the Same Play Setting HESS Analogues between Ghana and Liberia Hess drilled Pecan1 in 2013 75m net oil pay in Turonian reservoir. A potential hub for Hess Deepwater FPSO…
Block LB08 & LB09 Main Prospective Play Fairways BeeEater1 Apalis1 BeeEater Fairway: Narina1 Tested by Narina1 (oil) Sedimentary source BeeEater1 (shows) and * (blue arrows) Iroko1 Apalis1 BeeEater1 Narina1 Firefinch…
Firefinch Prospect Liberia LB09: Firefinch Prospect Bee Eater1 Prospect Firefinch A B Block LB09 Oil shows in Licence Area 2,634km2 equivalent section Water Depth 10002300m Play Fairway Turonian Prospect Area 100150 sqkm B…
Recent commercial discoveries in Ghana look Analogues to Liberia Blocks LB08 and LB09 Hess: Ghana Hess Ghana Discoveries Graphics source: 20th Africa Oil Week Presentation, 29.11.2013 Pecan 1 encountered 75m (245ft*) of oil pay…
Cte dIvoire CI509 and CI513 High quality proprietary 3D seismic Final PSDM delivered in March 2014 Commercial size primary prospects, deep & expanded inventory post April 2014 CPR Amplitude support for hydrocarbons may be…
Cte dIvoire Turonian Basin Floor Fans Terrace feeder Updip trapping prospects fault Well defined feeder canyons Block CI514 Total Operated. Saphir Soubre 1XB Turonian discovery Buyo/La Me Lobo Sassandra Basin floor fan…
Cte dIvoire CI513 Ayam Prospect Prospect Ayam/ Ayam West Block CI513 License Area 1,446km2 Water Depth 9003150m Play Fairway Turonian Mean Prospective Unrisked 922* MMstb Resources Ayam/ Ayam West B B B Welldefined…
CI509 Agneby Prospect Top Agneby Fan Agneby Fan Agneby Fan Prospect Agneby Depth Map Thickness RMS Amplitude Block CI509 Licence Area 1,091km2 Water Depth 2,560m Play Fairway Turonian Mean unrisked 414 MMstb, POS prospective 16%…
Sierra Leone SL03 and SL4A10 Block SL03 covered by 3D seismic, SL4A10 3D seismic now being acquired Prospective at Altair multiple levels within the Cretaceous Vega On trend with oil discoveries 3 discoveries by…
Sierra Leone SL03/04: Vega Lead Lead Vega Block SL03 & SL4A10 N License Area 5,855 km2 A Water 3,5003,800m Vega Depth Play Fairway Campanian/Turonian/ N A Top Campanian Depth Structure Cenomanian/Albian SW N NE A Vega Lead A…
Senegal ROP and SOSP Kosmos farmin Timis High potential frontier exploration area Corp in 2 blocks for 60% equity * Industry drilling activity on trend in 2014 Sangomar (Mauritania, Senegal, AGC) COP/Cairn/FAR Oil samples…
Poised to Recommence Drilling Initial Refinancing Private Placement (20m Feb 2014) Value Growth through Partnering and Drilling Programme Execution IPO on new exchange Value Initial Partnering Drilling Drilling Program Execution…
Gulf of Guinea Well Benchmarking Drilled Interval Spud to End of the Well 45.0 Countries: Liberia, Cote dIvoire, Sierra Leone, Senegal, Benin, Togo (up to 2014) 40.0 Top Quartile African Petroleum 35.0 drill performance…
Target Price of NOK1.7 based on fair P/NAV of 0.5x Peer group consists of P/NAV a range of small and 1.00 medium sized E&P 0.86 companies listed in 0.80 Norway and Sweden, 0.58 with a wide 0.60 geographical asset…
Significant Milestones Achieved in 2014 IPL closure Further Farm out CI509 with Farmouts Buried Hill Licence Extensions Order well heads for Q3 2015 drill campaign New New List on OSX Management Strategy Raise Capital…
Conclusions: Value Creation for the Near to Long Term Valuable Assets 5.2bnbbls net unrisked prospective resources* Extensive exploration in surrounding acreage Built material and enviable portfolio Positioned for profitable growth…
Appendix: Blue Chip Shareholder Base UK Europe Amiya Capital Knighthead Capital Mgt Banque Heritage BlackRock Investment Mgt Lighthouse Partners Bank Julius Baer Charlemagne Capital Marquest Asset Mgt Banque de Luxembourg Cheyne…
Appendix: Financial Strategy SNAPSHOT Broaden the sources of funding for the Cash (30 June 2014) Company whilst ensuring an appropriate Unrestricted = US16.6m capital structure, in order to support the Restricted = US12.1m Groups…
Appendix: 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…
Appendix: Activities & Licence Terms of Assets Interest Block(s) Contract Type in PSC Activities to Date Cte CI509 and CI513 Production 90% APCL was awarded block CI509 in March 2012 & CI513 in December 2011 dIvoire Sharing Contract…
Appendix: Applying Industry Leading Technology Seismic Acquisition and Processing High quality 3D seismic data acquisition from leading contractors (high resolution 3D planned) PSDM volumes executed for Liberia and Cte dIvoire and…
Appendix: Corporate Social Responsibility, examples in action Sightsavers Gbowee Peace University of Liberia Student Sponsorship Foundation Computer Lab APCL sponsored G&G scholarship, trainees will deliver Worked with…
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