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CORPORATE PRESENTATION – Africa Oil Corp.

Africa Oil Corp. · Feb 28, 2013 · 31 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. CORPORATE PRESENTATION – Africa Oil Corp. – slide 1
    A Lundin Group Company Opening a New Oil Frontier in East Africa Corporate Presentation February, 2013 1
  2. CORPORATE PRESENTATION – Africa Oil Corp. – slide 2
    2012 A Transformational Year for AOI Drilled 2 new oil discoveries with Tullow in the Tertiary rift that opened up a new basin. Wells encountered stacked high quality Tertiary reservoirs with flows tests producing 450-1800 bopd from…
  3. CORPORATE PRESENTATION – Africa Oil Corp. – slide 3
    Location, Location, Location First mover advantage in securing unequalled acreage position in what is now the worlds top exploration spot Over 250,000 sq km or 62 million acres gross Rift Basin Area Four separate petroleum…
  4. CORPORATE PRESENTATION – Africa Oil Corp. – slide 4
    The Opening of a New Basin Ngamia-1 discovery is Tertiary Rift Play Opener Tertiary/Cretaceous Rifts Resource Estimate North Sea Reserves: (Unrisked): 23 BBO 60 BBO 60+ Exploration Wells: Tertiary: 4, Cretaceous: 7 Exploration…
  5. CORPORATE PRESENTATION – Africa Oil Corp. – slide 5
    Southern String of Pearls Lokichar Sub-basin Two new major discoveries at Ngamia Lead F Time Structure Map Top Lokhone Shale and Twiga South significantly de-risk Lokichar Basin 6 Additional similar prospects on trend Etom…
  6. CORPORATE PRESENTATION – Africa Oil Corp. – slide 6
    Reservoir Quality: Ngamia-1 & Twiga South-1 Auwerwer Sandstones- PRIMARY RESERVOIR IN LOKICHAR BASIN: Twiga South-1 Lithology Fine to coarse grained braided fluvial to marginal lacustrine sandstones Porosities: 23-29% from core…
  7. CORPORATE PRESENTATION – Africa Oil Corp. – slide 7
    Ngamia-1 Discovery Block 10BB Ngamia-1 Discovery W E Dip Line 13T 10BB Ngamia-1 2 KM Dip Line Time Structure Map Upper Lokhone Sandstone Ekales S (formerly Kongoni) Ngamia-1 Discovery Strike Line N Strike Line S…
  8. CORPORATE PRESENTATION – Africa Oil Corp. – slide 8
    Ngamia-1 Cross Section Miocene Pliocene Oil in Tests MDT (Planned) Auwerwer Sandstones 4 775m gross interval with shows Net pay greater than 100m es Porosities: Porosities: 23-29% er Sandstone Auwerwe 3 High…
  9. CORPORATE PRESENTATION – Africa Oil Corp. – slide 9
    Twiga South-1 Discovery, Block 13T Twiga South South-1 1 W Dip Line E Lead F Lokichar Sub-basin Time Structure Map Oil discovery in Miocene Volcanic Top Lokhone Shale Auwerwer Sandstones similar to Ngamia Ngamia-1 1…
  10. CORPORATE PRESENTATION – Africa Oil Corp. – slide 10
    Twiga South-1 Cross Section Miocene Pliocene Oil in Drill Stem MDT Tests Auwerwer Sandstones Auwerwer 515m gross interval with shows Sandstones Net pay greater than 30m 5 Thicker Thicker prospective reservoirs up up-dip…
  11. CORPORATE PRESENTATION – Africa Oil Corp. – slide 11
    Twiga South-1 Tests First Potentially Commercial Oil in Kenya Well produced 2,812 bopd from 3 tests With optimized artificial lift equipment this rate would increase to a cumulative rate of around 5,200 bopd Miocene Oil in…
  12. CORPORATE PRESENTATION – Africa Oil Corp. – slide 12
    Paipai Prospect, Block 10A Sirius-1 Bellatrix-1 Paipai-1 Recent Play Lake Miocene Lower Tertiary Upper Cretaceous Lower Cretaceous Jurassic Basement TD: 4255m After Tullow Spud September 29, 2012 Drilled to total…
  13. CORPORATE PRESENTATION – Africa Oil Corp. – slide 13
    2013 Potential Drilling Candidates Tullow-Operated: RIFT BASIN AREA Testing: Twiga South-1 Firm Ngamia-1 g Shimela Additional testing in contingent budget Sabisa-1 Tullow-Operated: Testing Exploration: Exploration Sabisa…
  14. CORPORATE PRESENTATION – Africa Oil Corp. – slide 14
    Ekales Prospect (formerly Kongoni), Block 13T Ekales Lokichar Sub-basin W Dip Line E Time Structure Map Lead F Top Lokhone Shale Volcanic Spud Q2, Q2 2013 Auwerwer Ngamia & Twiga S. look-alike Etom Similar trap & reservoir…
  15. CORPORATE PRESENTATION – Africa Oil Corp. – slide 15
    Ekales (formerly Kongoni) Cross Section Future appraisal of Auwerwer & deeper Ekales-1 targets Primary Objective: Auwerwer Sandstones Lokhone Shale Source Rocks L. Lokhone Sandstone Targets 15
  16. CORPORATE PRESENTATION – Africa Oil Corp. – slide 16
    Etuko Prospect (formerly Kamba), Block 10BB Etuko Prospect (formerly Kamba) SW Dip Line NE Lokichar Sub-basin Lead F Time Structure Map Top Lokhone Shale Large structures: 70 km2 & 700 m relief Auwerwer Lokhone Sh…
  17. CORPORATE PRESENTATION – Africa Oil Corp. – slide 17
    Prospects Updip of Etuko & Loperot Possible follow-up to Etuko Prospect Shallow…
  18. CORPORATE PRESENTATION – Africa Oil Corp. – slide 18
    South Omo Block Northern String of Pearls AOC 30% WI, Tullow Operates with 50% Sabisa-1 spud Jan. 2013, potential Basin-Opener Extension E t i off Tertiary T ti rift ift trend t d north th off Lake L k Turkana T k Unexplored,…
  19. CORPORATE PRESENTATION – Africa Oil Corp. – slide 19
    Sabisa-1, South Omo Block, Turkana Basin Sabisa-1 drilling ahead in Tertiary clastics Ngamia-style trap, younger Tertiary section Sabisa -1 Tultule Prospect W Dip Line E Testing a new sub-basin A Time Structure Map Sabisa North…
  20. CORPORATE PRESENTATION – Africa Oil Corp. – slide 20
    South Omo Basin Ramp Play Sabisa-1 Sabisa West Tultule Projected Prospect Prospect Ramp Play Prospects W River E Shale Mrkr Tertiary Marker 5 Mrkr 3 Base Tertiary, Basement 20
  21. CORPORATE PRESENTATION – Africa Oil Corp. – slide 21
    Newly-Awarded Rift Basin Area PPSA PPSA award follows 3-year Joint Study. Rift Basin Area 42 519 sqkm 42,519 sqkm Extends AOC p position in Tertiary y Rift Basins Frontier area, no existing seismic data or wells. Initial…
  22. CORPORATE PRESENTATION – Africa Oil Corp. – slide 22
    Bahasi-1 Prospect (formerly Kinyonga) Block 9 Over 6 billon barrels of oil discovered along trend in Bahasi-1 Sudan in a similar geologic setting SW NE Large g ((60 sqkm) q ) anticlinal structure Tertiary Play Tertiary and…
  23. CORPORATE PRESENTATION – Africa Oil Corp. – slide 23
    Sala Prospect (formerly Pundamilia), Block 9 SW Sala (Proj) NE A Large (100 sqkm) structural closure downthrown of rift-bounding fault Tert. Marker Tertiary and Cretaceous sandstone targets Gross Oil Prospective Resources…
  24. CORPORATE PRESENTATION – Africa Oil Corp. – slide 24
    Blocks 7/8 El Kuran-3: Spud by July 2013 New Age has assumed operatorship with 40%WI AOC 30% 40%WI, 30%, Afren 30% 2013 plan is to drill a well to appraise reservoir characteristics of Jurassic carbonates. carbonates El…
  25. CORPORATE PRESENTATION – Africa Oil Corp. – slide 25
    Jurassic Rift Exploration (Horn Petroleum) Prolific, proven play in Yemen expected Shabeel 1& 2 to extend into Puntland, which shares a common geologic history Sh b l 1 Shabeel 1, 2 Two wells drilled/operated by Horn Petroleum…
  26. CORPORATE PRESENTATION – Africa Oil Corp. – slide 26
    Estimated Prospective Oil Resources SUMMARY OF PROSPECTIVE OIL RESOURCES 1 Current Working Interests Geographic PSC/PSA Operator UNRISKED AOC UNRISKED RISKED4 Region Gross Best Working Net Best Net Best Estimate Interest Estimate…
  27. CORPORATE PRESENTATION – Africa Oil Corp. – slide 27
    AOI Corporate Summary Completed 232MM fund raising in December of 2012 Sufficient funding to last into 2014, even in acceleration case 2013 Oil & Gas Expenditures (gross): 468MM p (g ) Board approved exploration budget of 468MM…
  28. CORPORATE PRESENTATION – Africa Oil Corp. – slide 28
    A History of Value Creation Company 2002 Recent Notes Tanganyika 0.55/share / 31.50/share / Sold to Sinopec 2008 13.5 million MC 1.9 billion MC Valkyries 0.45/share 16.00/share Sold to Lundin Petroleum 4 million MC 750 million MC…
  29. CORPORATE PRESENTATION – Africa Oil Corp. – slide 29
    Corporate Social Responsibility Commitment Africa Oil is committed to addressing the challenge of sustainability - delivering value to our shareholders, while providing economic and social benefits to impacted communities iti and d…
  30. CORPORATE PRESENTATION – Africa Oil Corp. – slide 30
    Opportunity Summary Africa Oil has the best onshore acreage position in East Africa, the worlds world s hottest exploration location The Ngamia and Twiga discoveries have significantly de-risked the Lokichar sub-basin and more…
  31. CORPORATE PRESENTATION – Africa Oil Corp. – slide 31
    AOI has a Strong Management Team Keith Hill, President and CEO Mr. Hill has over 25 years experience in the oil industry including international new venture management and senior exploration positions at Occidental Petroleum and Shell…

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