Capital Markets Presentation London 19 October 2011 1
Highlights World class African oil and gas resource company 5th largest deepwater acreage holder in Africa Diversified African Interests in 17 Blocks, 8 jurisdictions exploration and Four of the five key emerging sub-Saharan…
Value Creation through the Exploration Lifecycle Ophir is focussed on the early part of the exploration lifecycle Focus for use of proceeds First Production Appraisal FID 1st Discovery Value Growth 3D seismic…
Dominion Transaction Transaction rationale: Create largest independent, net deepwater acreage portfolio in the emerging hydrocarbon province of East Africa Leverages our current technical, competitive advantage in the play…
Why sub-Saharan Africa Emerging Exploration themes There are five key emerging themes in sub-Saharan African exploration at present East Africa Rift Oil focus; exploring rift- Transform margin related lacustrine sections Oil focus;…
Ophir Asset Base Ophir has material positions in four of the five themes East Africa Rift Maintain a watching brief Transform margin Looking to further leverage SADR existing position (4 blocks) Somaliland AGC (1 block) (1…
Ophirs African portfolio Ophir in-house estimates c 2.0Bboe net risked resources Ophir Net risked prospective (MMboe) Diverse pan-African portfolio SADR 4 blocks 50% WI) Somaliland 1 block, AGC 1 block, 75% WI Profond…
Comparison between RPS and Ophir Volume/Risk Estimates RPS only assessed part of the overall portfolio New acreage assessed and additional technical work since RPS report Remapping has increased pre-salt volume estimates in Mbeli…
Rigorous Approach to Portfolio Management Ophir employs best in class portfolio management using accumulated experience and targeted external consultants Geological evaluation: QI evaluation: Well data charge charge…
Exploration portfolio management Balance of drill-ready and maturing prospects The place to be low Substantial new technical work performed since IPO risk and high volume: Drill, appraise, develop Low risk but limited volumes:…
Activity Plan to end 2012 9 to 13 wells: 2011 2012 Country Permit Q3 Q4 Q1 Q2 Q3 Q4 Comments Operator has secured a +300 day rig commitment on the Deepsea Tanzania Blocks 1,3 & 4 Metro-1 and the campaign is expected to commence…
Drilling sequence 9 to 13 wells targeting c 2.4Bboe net unrisked, c 600MMboe net risked Mean resources 2011 2012 Ophir Gas/oil CoS Equity % Bcf MMbbl Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Tanzania Jodari 40%…
Drilling lookahead 2012 drilling programme expected to add 1.2Bboe gross risked (c 600MMboe net risked) resources 14
Finance Summary Expenditure focussed on key assets Exposure managed through farm outs at an appropriate time 85% of spend is on true value adding drilling and seismic activity Expenditure by type Expenditure by country Total…
Key messages Focussed on 4 of 5 key emerging sub-Saharan exploration themes Portfolio currently contains c 2Bboe net risked resources (Ophir estimates) Upcoming 9 to 13 well drilling campaign Tanzania drilling balance between…
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