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APRIL 2014 CORPORATE PRESENTATION – Africa Oil Corp.

Africa Oil Corp. · Apr 10, 2014 · 31 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. APRIL 2014 CORPORATE PRESENTATION – Africa Oil Corp. – slide 1
    An Oil Pioneer of Onshore East Africa Corporate Presentation April, 2014 A Lundin Group Company
  2. APRIL 2014 CORPORATE PRESENTATION – Africa Oil Corp. – slide 2
    A FRONTIER EXPLORATION SUCCESS STORY Size Does Matter Secured exploration area the size of the entire North Sea First Mover Advantage Brought in strong partners to fund and collaborate on exploration program (Tullow, Marathon)…
  3. APRIL 2014 CORPORATE PRESENTATION – Africa Oil Corp. – slide 3
    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 60+ BBO Prospective Resources 23 BBO1…
  4. APRIL 2014 CORPORATE PRESENTATION – Africa Oil Corp. – slide 4
    2014 PROGRAM GOALS Continue to add resources and de-risk South Lokichar Basin Drill out remaining prospect inventory Appraise existing and future discoveries with aid of new 3D seismic Update third party resource report in early 2nd…
  5. APRIL 2014 CORPORATE PRESENTATION – Africa Oil Corp. – slide 5
    STEP UP COMMUNITY ENGAGEMENT Local Employment and Contracts Ensure a transparent process for awarding local contracts and hiring local staff community involvement critical Capacity Building Opening new local vocational training…
  6. APRIL 2014 CORPORATE PRESENTATION – Africa Oil Corp. – slide 6
    IMPROVE DRILLING PERFORMANCE Tullow Kenya Drilling Performance (Days/1000m excludes testing) 80 Smectite clays cause hole problems with 70 water based drilling muds, controlled with Basin opening well - sidetracked 60 improved…
  7. APRIL 2014 CORPORATE PRESENTATION – Africa Oil Corp. – slide 7
    2014 Exploration Tullow-Operated: Exploration: Shimela Amosing (Discovery) Ewoi (Discovery) Gardim Emong (sub-commercial oil disc.) Ekunyuk (drilling) Kiboko Etom Ekosowan Dyepa Aze Kiboko El Kuran (off map) Shimela…
  8. APRIL 2014 CORPORATE PRESENTATION – Africa Oil Corp. – slide 8
    Lokichar Basin Exploration & Appraisal through 2014 Etom North Gross Best Estimate Contingent (2C) Best-Estimate Gross Resources: Resources to date: Upcoming Wells: Prospective : 234 MMBO 368 MMBO (gross)1 Etom Complex Spud 1H,…
  9. APRIL 2014 CORPORATE PRESENTATION – Africa Oil Corp. – slide 9
    Schematic Section, South Lokichar Basin Main Reservoir Types 2 1 1 2 1 Primary Reservoirs Secondary/Prospective Reservoirs Enhanced Recovery Potential: 1 Fracture and/or Acid Stimulation 2 Horizontal Drilling 9
  10. APRIL 2014 CORPORATE PRESENTATION – Africa Oil Corp. – slide 10
    Ekales-Twiga-Agete-Etom Prospect Area Etom North Best-Estimate Gross Enlarged Map Resources 234 MMBO COS: 21-25% Etom Northwest Etom East Best-Estimate Gross Best-Estimate Resources Gross Resources 81 MMBO 42 MMBO COS: 29% COS:…
  11. APRIL 2014 CORPORATE PRESENTATION – Africa Oil Corp. – slide 11
    The Rift Flank Play - Ewoi Discovery & Ekunyuk Prospect Large Structural Traps Depth Structure: Top Lokhone Source Rock Enlarged Map Possible Stratigraphic 5km Component Etuko-1 Discovery (2013) Ewoi- Discovery Best-Estimate…
  12. APRIL 2014 CORPORATE PRESENTATION – Africa Oil Corp. – slide 12
    High Quality Auwerwer Reservoir Auwerwer Core Data Ekales Core Plug Porosity 23.6% & Perm 13.2 Darcies 100000 Twiga Ekales Ngamia 10000 Etuko Permeability md 1000 100 10 Porosity 15% to 30% Permeability 50 mD to…
  13. APRIL 2014 CORPORATE PRESENTATION – Africa Oil Corp. – slide 13
    South Lokichar Basin Significant Discovered Resource Upside (Based on most recent CPR report effective July 31, 2013) Gross Contingent Resources* mmbo Appraisal Candidates by end 2014 1000 3C 2C 851 800 Ngamia & Twiga South to…
  14. APRIL 2014 CORPORATE PRESENTATION – Africa Oil Corp. – slide 14
    South Lokichar Basin Building World Class Resource Base South Lokichar Basin Exploration Candidates by end 2014 Best Estimate Gross Contingent Resources, Gross Risked and Unrisked Prospective Resources mmbo 4,000 3,500 Drilling…
  15. APRIL 2014 CORPORATE PRESENTATION – Africa Oil Corp. – slide 15
    2014 Exploration Outside of Lokichar- Focus on Opening New Basins Chew Bahir Basin (South Omo Block) New seismic identified large inventory of prospects Prospects supported direct hydrocarbon indicators 2 wells planned, Shimela-1…
  16. APRIL 2014 CORPORATE PRESENTATION – Africa Oil Corp. – slide 16
    Chew Bahir Basin (South Omo Block) Chew Bahir Basin Zorit Wemay NESIR Jigra Sila Best-Estimate Gross Jigra S. Resources 241 MMBO Shimela Best-Estimate Gross Resources 48 MMBO East BM Shimela S. Gardim 100 km…
  17. APRIL 2014 CORPORATE PRESENTATION – Africa Oil Corp. – slide 17
    Chew Bahir Basin Prospects (South Omo Block) Shimela: 48 MMBO Jigra: 5 MMBO Sila: 241 MMBO Best-Estimate Gross Resources Best-Estimate Gross Resources Best-Estimate Gross Resources SW NE NW SE CB Marker 3 CB Marker 5 CB Marker…
  18. APRIL 2014 CORPORATE PRESENTATION – Africa Oil Corp. – slide 18
    Newly-Awarded Rift Basin Area PPSA PPSA award follows 3-year Joint Study Extends AOC position in Tertiary Rift Basins Frontier area, no existing seismic data or wells Rift Basin Area 42,519 sq km Completed 37,000 sq km Full Tensor…
  19. APRIL 2014 CORPORATE PRESENTATION – Africa Oil Corp. – slide 19
    Dyepa Prospect, South Kerio Basin (Block 10BB) New prospects from ongoing seismic program S Kerio A Estimated prospective South Kerio resources in the 50-100 MMBO class, pending Dyepa CPR audit S Kerio G 100 km S Kerio C…
  20. APRIL 2014 CORPORATE PRESENTATION – Africa Oil Corp. – slide 20
    Aze Prospect- North Kerio Basin (Block 10BB) Time Structure Lower Pliocene Marker 5km Block 10BA Block 10BB Aze: 343 MMBO Best-Estimate Gross Resources (1) (1) Resource estimates are gross best estimates of prospective…
  21. APRIL 2014 CORPORATE PRESENTATION – Africa Oil Corp. – slide 21
    Lake Turkana Western Shore Prospects (Block 10BA) 1,558 km of new onshore and marine seismic significantly increased prospect inventory Seismic acquisition concentrated along western shore Engomo (Kiboko) Large prospects,…
  22. APRIL 2014 CORPORATE PRESENTATION – Africa Oil Corp. – slide 22
    Lake Turkana Western Shore Prospects (10BA) Engomo (formerly Kiboko) Line 2012-36 Mrkr 5 Western Engomo Shore (Formerly Kiboko) Mrkr 1 Best-Estimate Gross Resources 106 MMBO Line 2012-36 Shaba Best-Estimate Lake…
  23. APRIL 2014 CORPORATE PRESENTATION – Africa Oil Corp. – slide 23
    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 Play concept confirmed at Paipai well Sala: Bahasi-1 drilled to 2,900m in…
  24. APRIL 2014 CORPORATE PRESENTATION – Africa Oil Corp. – slide 24
    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 1H 2H mmbo 2015+ 2014 2014 9,000 Net…
  25. APRIL 2014 CORPORATE PRESENTATION – Africa Oil Corp. – slide 25
    What you will see by end 2014 (Timing of well results) 1H 2014 2H 2014 Basin Openers Sala Shimela Dyepa Gardim Aze Engomo (Anza) (Chew Bahir 1) (S. Kerio 1)(Chew Bahir 2) (N.Kerio 1) (ex. Kiboko - W. Turkana 1) Lokichar Drill Out…
  26. APRIL 2014 CORPORATE PRESENTATION – Africa Oil Corp. – slide 26
    World Class Development Project Proven prolific light oil South Lokichar basin with significant running room South Lokichar Basin exceeds threshold volumes for development Kenyan & Ugandan Presidents agree joint export pipeline…
  27. APRIL 2014 CORPORATE PRESENTATION – Africa Oil Corp. – slide 27
    AOI Corporate Summary Funding 2014 Forecast O&G Expenditures (gross): 814MM 450MM equity issuance completed Oct-2013 Funding in place through mid-2015 43.5MM Marathon farmout carry dedicated to Block 9, Block 12 and Rift Basin…
  28. APRIL 2014 CORPORATE PRESENTATION – Africa Oil Corp. – slide 28
    Step Up Community Engagement 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 impacted…
  29. APRIL 2014 CORPORATE PRESENTATION – Africa Oil Corp. – slide 29
    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…
  30. APRIL 2014 CORPORATE PRESENTATION – Africa Oil Corp. – slide 30
    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 and Ewoi discoveries have…
  31. APRIL 2014 CORPORATE PRESENTATION – Africa Oil Corp. – slide 31
    AOI has a Strong Management Team Keith Hill, President and CEO Mr. Hill has over 27 years experience in the oil industry including international new venture management and senior exploration positions at Occidental Petroleum and Shell…

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