Risks Related to an Investment in the Company Investing in the Company involves a high degree of risk. The Groups operations are to explore, develop and ultimately produce oil and gas resources in developing countries. Such operations…
Offering Summary Issuer: African Petroleum Corporation Limited Trading Platform: Oslo Axess (OAX) Issuer Code: APCL Offer Size: Up to NOK 115 million (US15 million) Up to 329,000,000 new ordinary shares Terms: Priced at NOK 0.35…
Investment Highlights World Class Exploration Acreage Position Market Statistics (03.02.15) Large acreage position in West Africa Margin: 5 countries, 10 licences Listing OAX (APCL) NSX (AOQ) 7.3bn+ barrels unrisked prospective oil…
Experienced Management Team Stuart Lake: Chief Executive Officer and Executive Director 28+ years of experience in Hess Corp., Apache Corp. & Shell Proven oil finder, drilled 300+ wells in 11 countries with 85% geological success…
World Class Exploration Acreage WEST AFRICA SENEGAL 31 DISCOVERIES (2010 2014) 2 adjacent discoveries in 2014 63 WELLS PLANNED 2 licences: 14,8042 (net) Prospective Oil Resources: (2014 2016) 7.3Bnbbls* 81% WI SIERRA LEONE &…
APCLs Net Acreage Position relative to other Listed Operators in West Africa Liberia Sierra Leone Operated offshore acreage in km2 Operated offshore acreage in km2 No.1 No.1 Operators Operators Cte dIvoire Senegal & The Gambia…
Growth Strategy Proven deep-water operator with one discovery Exploration Diverse oil rich multi-play portfolio Focused Drilling high impact exploration wells Pre-trade seismic and well data to aid knowledge pre drill West…
Delivering on Milestones Achieved in 2014 Targeted in 2015 New Management & Governance Fundraising Revised strategy and plan Upgrade Prospective Resource numbers new CPR to be published end Q1 2015 Private Placement with supportive…
The Current Market: Time to invest APCL is benefitting from a decrease in prices for drill-rigs and seismic work Focus on the longer-term market stability, long term strategy to realise potential and value of 7.3bnbbls+ assets…
Economic Summary Excellent fiscal terms Benefit from low cost exploration and appraisal cost environment in 2015/16 Drilling…
Significant Potential Value Creation Value 1.2B - 2.3B Value of 500MMbbl discovery 1.13 - 2.07 per share 2,835% to 5,187% Potential Value Increase US55m 0.08 /share NPV10 value based on internal calculations and…
Company Portfolio 2011 2014 Current Material growth in our prospect inventory since 2011 The Gambia 3 material oil discoveries made by others during 2014 in acreage adjacent to APCL 2,393 Cte dIvoire 7.3 Future MMstb MMstb…
Prospects & Plays Cte dIvoire to Sierra Leone Pure play deep-water exploration 2014 Exploration was transformational in Senegal and Cte dIvoire CPR Inventory is diverse and material Our large equity position provides room for…
Third Party Catalyst Activity 2014/2015 COP & SOSP: Kosmos farm-in for APCL Licences 60% equity (2014)* Positive Results APCL Gambia licences re-instated Awaiting Results (Nov 2014) 2015 Activity New 3D seismic Sangomar -…
Liberia LB-08 and LB-09 Farm-out term sheet signed for LB-08 (Dec 2014)* Attractive early mover fiscal terms 4 discoveries in the Liberia Sierra Leone basin by others Narina-1 oil discovery in LB-09 by African Petroleum…
Liberia LB-09: Narina West Appraisal Narina-1 found 31 metres net pay Turonian and Prospect Narina West underlying Albian reservoirs (38-40 API) Water Depth 900-1200m Mean prospective un-risked resources: 184 MMstb* Play Fairway…
Cte dIvoire CI-509 and CI-513 High quality proprietary 3D seismic. New PSDM delivered in March 2014 April 2014 Total oil discovery at Saphir-1XB (Block CI-514) 40m net oil pay 34 API Developed a deeper & expanded inventory post April…
Cte dIvoire CI-513 Ayam West Ayame Turonian Upper Fan Depth and Sum Negative Values showing Reservoir Prospect Ayam West Water Depth 2800-2900m Play Fairway Turonian and Cenomanian Mean Prospective Net *800 MMstb (Combined Unrisked…
Cte dIvoire CI-509 Agnby Prospect Agnby Water Depth 2500 - 2750m Play Fairway Santonian/Turonian and Cenomanian Mean Prospective Net *414 MMstb (Turonian Unrisked Resources only) *Resource volumes taken from ERC Equipoise CPR,…
Gambia and Senegal Overview Platform edge Vega Lead on Cairn(op.)/CoP/FAR 3Ddiscoveries oil data in SL- in adjacent 03 block Senegal ROP High potential frontier exploration area Gambia A1 A4 Multiple plays…
Recent Discoveries on Trend with APCL Acreage SNE-1 Sangomar Block* FAN-1 Cairn Energy SNE-1 discovery: (Cairn operated) Line A 95m gross oil bearing column with a gas cap Excellent net oil pay of 36m Oil of 32 degrees API…
The Gambia A1 & A4 FAN-1 Discovery Gambian Licences re-instated 1 December 2014 with 100% working interest 2,500km2 3D seismic acquired over licences SNE-1 Discovery Discoveries by Cairn Energy in Senegal confirm our Al…
Gambian Licences: Multiple Analogues to SNE-1 FAN-1 Discovery SNE-1 Pre-drill Images (Senegal) Y Y Y Y Time Depth SNE-1 Al Hamdulilah Discovery Paprika Sami Nema Rosewood X Mahogany X Acacia Lamia Far Ltd. Investor…
Sierra Leone SL-03 and SL-4A-10 N Lukoil Savannah discovery announced in 2013* Djemba Altair Vega Block SL-03 covered by 3D seismic, SL-4A-10 3D seismic acquired Q3 2014 Prospective at multiple levels within the…
Sierra Leone SL-03/04a: Vega Lead Lower Campanian Fan System Amplitudes Prospect N Vega Water Depth 3400-3640m Play TGS 2012Fairway 3D Campanian TGS 2014 3D Brute Stack SL-03 Mean Prospective Net Under assessment Unrisked…
Poised to Recommence Drilling Value Growth through Partnering and Drilling Programme Execution Active Programme Offset wells by third parties to de- Value Drilling Programme Execution risk prospects EV = 500 MMBO (risked) Further…
Conclusion: Value Creation for the Near and Long Term Assets Capabilities Diverse portfolio in 5 countries with Highly experienced management team 24+ drillable prospects Members of APCL technical team were 7.3bnbbls+ net unrisked…
Advisers & Contact Details African Petroleum Corporation Ltd BROKERS Stratton House EAS Advisors LLC (New York) 5 Stratton Street First Energy/Mirabaud Securities Limited (UK) London, W1J 8LA Pareto Securities (Norway) Dundee Securities…
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Vision To be the leading Independent Oil Exploration Company of choice Mission Finding and exploiting commercial hydrocarbon deposits, whilst generating sustainable benefits for local communities and minimising our environmental…
Board Composition and Committees Board of Directors Charles Matthews Independent Non-Executive Chairman Nomination Committee Audit Committee Remuneration Committee Continuous Disclosure Committee Members: Members: Members:…
Operational Timeline- History and Outlook Control Over Direction & Execution of Exploration Strategy Control Over Direction & Execution of West African Focus Exploration Strategy Africa & Beyond FIRST OIL* Seismic Drill…
Net Acreage Comparison Gulf of Mexico and North Sea 36
Country Profile Senegal Cte dIvoire GDP Projected Growth (14): 5.1% GDP Projected Growth (14): 9.8% Population (12): 13.2m Population (12): 20.6m Population Growth Rate: 2.6% Population Growth Rate: 2.2% Language: French Language: French…
APCL Activities to Date Country Blocks Net Acreage km2 Activities to Date Awarded both blocks November 2011 Rufisque Offshore Profond May 2012 APCL acquired 3,600km2 3D seismic data 14,804 Senegal & Senegal Offshore Sud Currently…
Block LB-08 & LB-09 Main Prospective Play Fairways Bee-Eater-1 Apalis-1 Bee-Eater Fairway: Narina-1 Tested by Narina-1 (oil) Sedimentary source Bee-Eater-1 (shows) and * (blue arrows) Iroko-1 Apalis-1 Bee-Eater-1 Narina-1…
FAN-1 Analogues in APCL Acreage FAN-1 Cairn Operated Sangomar Licence Reprocessed 3D delivered Q4 2014 APCL ROP Licence Baobab Prospect Y Y X X X X ROP License Y Y A1 A4 SOSP License SOSP Slope fan systems Lateral…
Gulf of Guinea Well Benchmarking Drilled Interval 45.0 African Petroleum historical performance within the Gulf of Guinea region Spud to End of the Well. Countries: Liberia, Cote dIvoire, Sierra Leone, Senegal, Benin, Togo (up to…
Two Casing String CDI Exploration Well Less than 50mm USD cost/well Simple design and fast drilling Potential rig time savings (2-3 days) Reduced casing requirements (both 20 & 13 3/8) Reduced cement requirements Simplified…
Onshore Niger Licences APCLs 14% shareholder in International Petroleum Savannah FTG Technology used Petroleum Four CNPC by Tullow in Uganda Signature Bonuses White discovered and Africa Oil in 34 Million USD Blocks IOP 800MMbbls P2…
Corporate Social Responsibility, examples in action Sightsavers Gbowee Peace University of Liberia Student Foundation Computer Lab Sponsorship APCL sponsored trainees will deliver Worked with Nobel laureate to design Increased…
Risk factors related to an investment in the Company, cont. Regulation of the oil industry. The Group's operations are or will be subject to laws and regulations of general Group anticipates making further losses in the foreseeable…
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