Tangiers Petroleum & Jacka Resources Creation of a premier small to mid-cap African focused upstream oil & gas company RECOMMENDED TAKEOVER OFFER BY TANGIERS PETROLEUM FOR JACKA RESOURCES 5 December 2013
Summary of the Offer Recommended takeover offer by Tangiers Petroleum for Jacka Resources Transaction Tangiers Petroleum Limited (Tangiers) to acquire Jacka Resources Limited (Jacka) via Overview off-market takeover (Offer) Tangiers…
Transaction Rationale Creation of a premier small to mid-cap African focused upstream oil & gas company The combined entity will possess a portfolio of highly prospective exploration, appraisal and development acreage in Morocco,…
Exposure to African Basins Accelerated growth through a combined and diversified portfolio of frontier exploration together with near-term appraisal and development opportunities Africa Diversified Asset Portfolio 1 TARFAYA BLOCK,…
Indicative Work Plan The combined work plan consists of multiple operations from high-impact exploration to near-term appraisal and development activities Activity Area Q4 2013 H1 2014 H2 2014 Morocco Tarfaya Well Planning Drill TAO-1…
Experienced Board The Board of Directors of the combined entity will comprise three nominees from Tangiers and two nominees from Jacka Ms Howell is an experienced explorationist, executive and company director having worked over 40…
Strengthened Balance Sheet Well funded for multiple high-impact drilling events throughout 2014 (HW3-ST2 appraisal and TAO-1 exploration wells) Proforma Balance Sheet (estimate as at 29 Nov 2013) Jacka Interim Funding Cash Am Tangiers…
Enhanced Scale The combined entity will benefit from enhanced scale (liquidity, coverage, institutional reach) ASX-Listed Peer African Focused Companies (Am market cap) 100 90 80 70 60 50 40 30 20 10 0 FAR Ltd…
Key Metrics Transaction Metrics (as at 29 November 2013) Offer Summary(1) Current TPT shares outstanding (m) 175 Under the takeover bid, Tangiers is offering Implied TPT equity valuation (Am) 41 0.468 Tangiers shares for every Jacka…
Indicative Timetable Announcement 5 December 2013 Bidders Statement & Targets Statement 20 January 2014 expected to be lodged Offer period commences 4 February 2014 10
Further Information TANGIERS PETROLEUM LTD JACKA RESOURCES LTD Eve Howell, Executive Chairman Bob Cassie, Managing Director Tangiers Petroleum Ltd Jacka Resources Ltd +61 8 9485 0990 +61 419 945 232 ehowelltangierspetroleum.com.au…
Appendix Asset Summaries
Morocco Tarfaya Block High impact prospective acreage with 25%(1) equity Large block size: 11,282 km2 Located in an area of recent global interest and high level of planned drilling activity Favourable fiscal terms Major company JV…
Tunisia Bargou Block Large block 4,616 km2 Equity 15% Near term field appraisal plus exploration leads and prospects Low cost shallow water development Hammamet West (HW) oil field Areal extent: 205 km2, defined on 3D seismic 4…
Nigeria OML 113 Aje Field West African Transform Margin prolific petroleum fairway e.g. Jubilee Aje Field: 5% net revenue interest near term development opportunity full 3D seismic coverage 4 wells drilled on Aje structure 3…
Somaliland Odewayne Block Frontier acreage - billion barrel potential Equity 15% (option on additional 5%) Large block 22,000 km2 Active exploration program fully funded through to May 2016 22,000 km2 airborne gravity / magnetic…
Tanzania Ruhuhu Basin Early stage exploration block East Africa now highly attractive and sought after since onshore discoveries in Uganda, Kenya, offshore Tanzania, Mozambique 100% equity and Operator Four year term Large block:…
Petroleum Resources Net Contingent Resources Asset Interest Unit Net Contingent Resource Evaluator Estimation Previous Announcement (Location) (Evaluation Date) Method 1C 2C 3C Bargou Block Jacka AGM Presentation (Tunisia) (1) (8…
Petroleum Resources Qualified Petroleum Reserves and Resources Evaluator: This report is based on, and fairly represents, information and supporting documentation prepared by, or under the supervision of the qualified petroleum reserves…
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