An Oil Pioneer of Onshore East Africa Corporate Presentation September, 2014 A Lundin Group Company AOI TSX and NASDAQ OMX
A FRONTIER EXPLORATION SUCCESS STORY Share Valuation Underpinned with Lokichar Discoveries Petroleum System proven with 8 discoveries with over 600 MMBO discovered oil and upside potential of 1 to 3 billion barrels of oil.…
THE NEXT NORTH SEA Lokichar Basin Confirmed as major oil province 11 more basins and 100+ prospects to go Tertiary/Cretaceous Rifts North Sea reserves: Unrisked gross best estimate of prospective resources: 23 BBO1 60+ BBO…
South Lokichar Basin- 2014 Highlights 2014 Wells: Lokichar Sub-basin Time Structure Map Top Lokhone Shale Amosing-1, 2, 2A Discoveries 3D Extension Etom Ewoi-1 Discovery North Etom Etom Emong-1 Sub-commercial East…
Main Reservoir Types- South Lokichar Basin 1 Auwerwer Sandstones: stacked good quality thick reservoirs along western side of basin. Rates in the 1000s of barrels per day. Prospective along eastern side (oil shows present). 1 2…
Appraisal Progressing at Ngamia & Amosing Field limits extended by recent wells Formline Structure Ng-2 Ng-3 Ngamia and Amosing appraisal wells extend field Ng-4 Ngamia 1a limits Ngamia Am-2 Wells confirm high net pays Field…
Ekosowan-1 (Drilling) Well located with newly-acquired 3D Will test southerly extent of Lokichar Basin Also tests extension of Amosing pools that appear to have stratigraphic trapping component 3D Mapping Enlarged Map…
South Lokichar Basin Exploration & Appraisal Plans Program to be completed by end 1Q 2015 Aggressive Exploration & Appraisal Plans Simultaneous with Development Planning Exploration wells Appraisal wells Development planning focussed…
South Lokichar Basin - World Class Discovered Resource Base (Based on CPR reports dated Aug 2012, Sept 2013 & Sept 2014) Gross Contingent Resources1,2 (Excluding Prospective Resources Upside) mmbo 1400 3C 1291 1200 2C Significant…
East Africa regional oil export pipeline taking shape Kenya & Uganda Governments agree regional crude oil pipeline from Uganda through Kenya Lapsset road from Lamu to Nadapal on Kenya-Sudan border in detailed design by Kenya…
Fast track World Class development project CPF Schematic Ngamia-1 Well Site Proven prolific light oil South Lokichar basin that exceeds threshold volumes for development Explore, appraise and develop simultaneously Modular CPF…
New Basin Exploration, Next 18 months Anza- Sala-1 Discovery, Sala-2 Appraisal Central Kerio- Kodos-1 (Drilling) North Kerio- Epir Spud Q4, 2014 East Kerio Ranking prospects for 2015 spud Abaya-Chamo West Omo- Engomo Spud end…
Comparison of Central Kerio & South Lokichar Basins South Turkana Lake Basin Closest connection with North Kerio source rock seen on seismic Basin Block 10BA Similar basin style: Epir-1 asymmetric half-graben North Lokichar…
Kodos Prospect, Central Kerio Basin Kodos-1 (Drilling) Kodos Possible basin-opener for South Kerio Dyepa S Kerio G Ngamia-style traps Tilia 20km Several follow-on prospects mapped S Kerio D S Kerio E Lukwa (formerly…
Epir Prospect (formerly Aze) North Kerio Basin Time Structure Lower Pliocene Marker 5km Block 10BA Block 10BB Epir: 343 MMBO Best-Estimate Gross Resources Resource estimates are gross best estimates of prospective…
North Turkana Basin: Engomo & N.Samaki Prospects Engomo Mrkr 5 Western Shore Engomo Mrkr 1 Lake Shaba Turkana Kifaru N. Samaki (projected) Kifaru Onshore Marine Large prospects, different Gas play types,…
New Basin Resource Potential New Basin De-Risking Schedule New Basin De-Risking Gross Best Estimate Unrisked Prospective Resources Best Estimate Net Unrisked & Risked Prospective Resources mmbo mmbo 4Q 2014 2015 7,000 9,000 6,340…
What you will see by end 1Q 2015 (Timing of well results) 3Q 2014 4Q 2014 1Q 2015 Engomo (N. Turkana 1) Basin Openers Sala-2 Kodos Epir N. Samaki (Anza) (C. Kerio 1) (N.Kerio 1) (N. Turkana 2) Lokichar Drill Out Etom Ekosowan…
AOI Corporate Summary Graduated to TSX May 2014 and NASDAQ OMX main board July 2014. Funding 2014 Forecast O&G Expenditures (gross): 814MM Funding in place through mid-2015 79.7 Drilling 450MM equity issuance completed Oct-2013…
Enhanced Community Engagement Social License to Operate Increased stakeholder engagement through formal and informal forum at local levels (Turkana Leaders Forum, town hall meetings, grievance procedures, outreach programs). Expand…
Opportunity Summary Africa Oil has the best onshore acreage position in East Africa, and perhaps the largest upside exploration portfolio in the world The Ngamia, Twiga, Etuko, Ekales, Agete, Amosing, Etom and Ewoi discoveries have…
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 2006 4 million MC 750 million MC…
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