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NOVEMBER 2013 CORPORATE PRESENTATION – Africa Oil Corp.

Africa Oil Corp. · Nov 1, 2013 · 28 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. NOVEMBER 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 1
    A Major j Emerging g g Oil Company in East Africa Corporate Presentation November, 2013 A Lundin Group Company
  2. NOVEMBER 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 2
    2013 The Proof in the Pudding Moving to development Exceeds threshold volumes for development Working with host governments and partners to put development plans in place Appraisal programs initiated (drilling and 3D seismic) Still…
  3. NOVEMBER 2013 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. NOVEMBER 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 4
    The Opening of the First New Basin Lokichar Ngamia-1 discovery is Tertiary Rift Play Opener - Over 100 undrilled prospects and leads Tertiary/Cretaceous Rifts North Sea Reserves: Unrisked Gross Best Estimate of 60+ BBO Prospective…
  5. NOVEMBER 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 5
    Lokichar Basin Low Risk Proven Hydrocarbon System 100% success rate to date 4 for 4 on exploration Lokichar Sub-basin wells Time Structure Map Top Lokhone Shale Etuko oil discovery confirms extension of productive Etom fairway…
  6. NOVEMBER 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 6
    Ngamia & Twiga South Discoveries Ngamia 1: Ngamia-1: Twiga South South-1: 1: Test data confirms excellent reservoir quality in Upper Core and test data confirm excellent reservoirs: Auwerwer sands: 23-29% porosity 23-29% porosity…
  7. NOVEMBER 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 7
    Lokichar Basin Exploration through 2014 Etom North Best-Estimate Gross Resources: Gross Best Estimate Contingent (2C) Prospective : 234 MMBO Resources to date: Upcoming Wells: 368 MMBO (gross)1 Etom Complex Spud 1H, 2014 B…
  8. NOVEMBER 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 8
    Ekales-Twiga-Agete-Etom Prospects Etom North Best-Estimate Gross Resources 234 MMBO Etom Northwest Enlarged Map Best-Estimate Gross COS: 21-25% Kenya Resources 81 MMBO Etom COS: 29% Etom East Best-Estimate Gross Resources…
  9. NOVEMBER 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 9
    Ngamia-Amosing Area Enlarged Map Kenya Etom Agete Twiga South Etuko Ewoi Ekales Loperot Ekunyuk Ngami West Ngamia-1 Ngamia Lokichar Amosing Basin Ekosowan Block 13T Block 10BB Block 12A 10km Ngamia…
  10. NOVEMBER 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 10
    Ewoi-Ekunyuk Prospects- The Rift Flank Play Enlarged Map Kenya Large Structural Traps Etom Depth Structure: Top o o e Sou Lokhone Source ce Rock oc Agete Possible Stratigraphic 5km Twiga Etuko Component South Ewoi Ekales…
  11. NOVEMBER 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 11
    South Lokichar Basin Building World Class Resource Base Best Estimate (2C) and Upside (3C) Gross Contingent Unrisked prospect average mmbo Resources size increased from 1,000 81 mmbo (2012) to 851 204 mmbo (2013) 800 Lokichar Basin…
  12. NOVEMBER 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 12
    Focus on Opening New Basins North Turkana (South Omo Block) S bi W Sabisa Wellll proved d source, seall and d reservoir i Tutule well should prove up trap and concept Chew Bahir Basin (South Omo Block) New seismic identified…
  13. NOVEMBER 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 13
    North Turkana Basin (South Omo Block) Sabisa-1 TDd with oil and gas shows Sabisa -1 Tultule Prospect E W Dip Line Possible trap failure A Tultule T lt l to t test t t upthrown th fault-trap f lt t Depth Structure Map…
  14. NOVEMBER 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 14
    Chew Bahir Basin (South Omo Block) Zorit Chew Bahir Basin Wemay NESIR Jigra Sila Best-Estimate Gross Jigra S. Resources 241 MMBO Shimela Best-Estimate Gross Resources 48 MMBO East BM Shimela S. Gardim…
  15. NOVEMBER 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 15
    Chew Bahir Basin Prospects (South Omo Block) Shimela: Shi l 48 MMBO Jigra: 5 MMBO Sila: 241 MMBO SW Best-Estimate Gross Resources NE NW Best-Estimate Gross Resources SE Best-Estimate Gross Resources CB Marker 3 CB Marker 5…
  16. NOVEMBER 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 16
    Newly-Awarded Rift Basin Area PPSA PPSA award follows 3-year Joint Study Extends AOC position in Tertiary Rift Basins Rif B i A Rift Basin Area 42,519 sq km Frontier area, no existing seismic data or wells Initial exploration…
  17. NOVEMBER 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 17
    Lake Turkana Western Shore Prospects (Block 10BA) 1,350 km of new onshore and marine seismic significantly significantl increased prospect inventory S Seismic i i acquisition i iti concentrated t t d along western shore…
  18. NOVEMBER 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 18
    Lake Turkana Western Shore Prospects (10BA) Line 2012-08 Shaba Kifaru Mrkr 5 Western Plio. Volcanic Shore Kiboko Best-Estimate Gross Resources 106 MMBO 3 km Shaba Best-Estimate Gross Resources Lake 19 MMBO Turkana…
  19. NOVEMBER 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 19
    South Kerio Prospects (Block 10BB) New prospects from Tertiary ongoing seismic program Marker 2 Estimated prospective S Kerio D S. South Kerio resources in the 50-100 MMBO class, pending CPR audit S. Kerio C 100 km S. Kerio…
  20. NOVEMBER 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 20
    Anza Graben, Block 9: Extension of the Sudan Play Cretaceous Basin on trend with South Sudan with over 6 billion barrels of oil discovered along trend SW Bahasi-1 NE Play concept confirmed at Paipai well Drill Bahasi and Sala…
  21. NOVEMBER 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 21
    Basin Opening Strategy 2013/2014 New Basin De-Risking Schedule New Basin De-Risking Gross Best Estimate Unrisked Prospective Resources Best Estimate Net Unrisked & Risked Prospective Resources Q4 1H 2H mmbo 2015+ 2013 2014 2014…
  22. NOVEMBER 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 22
    World Class Development Project Ngamia, Twiga South and Etuko discoveries prove prolific light oil South Lokichar basin with significant running room South Lokichar Basin exceeds threshold volumes for development Kenyan &…
  23. NOVEMBER 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 23
    What you will see by end 2014 2013 1H 2014 2H 2014 Basin Openers Tultule Bahasi Sala Shimela S. Kerio Gardim W. Turkana Ngamia W Etom Lokichar Drill Out Agete Amosing Ewoi Ekunyuk Ekosowan Lokichar Appraisal Etuko-2 Twiga-2…
  24. NOVEMBER 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 24
    AOI Corporate Summary Funding 450MM equity issuance completed Oct Oct-2013 2013 2013 Forecast O&G Expenditures (gross): 567MM Funding in place through mid-2015 63.0 Expect to enter 2014 with cash in excess of 500MM 99.9…
  25. NOVEMBER 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 25
    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 y Valkyries 0.45/share / 16.00/share / Sold to Lundin Petroleum 2006 4 million MC…
  26. NOVEMBER 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 26
    Corporate Social Responsibility Commitment Risk Management and Value Creation Africa Oil is committed to addressing the challenge of sustainability - delivering value to our shareholders, while providing economic and social benefits to…
  27. NOVEMBER 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 27
    Opportunity Summary Africa Oil has the best onshore acreage position in East Africa Africa, and perhaps the largest upside portfolio in the world The Ngamia, g Twiga, g Etuko and Ekales discoveries have significantly g y…
  28. NOVEMBER 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 28
    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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