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MAY 2013 CORPORATE PRESENTATION – Africa Oil Corp.

Africa Oil Corp. · May 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. MAY 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 1
    A Lundin Group Company A Major Emerging Oil Company in East Africa Twiga South-1 Test, Block 13T, Kenya Corporate Presentation May, 2013 1 Ngamia-1 Test, Block 10BB, Kenya
  2. MAY 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 2
    2013 The Proof in the Pudding Drilling program opens 3 new basins Lokichar, North Anza and North Turkana 2013 program now focused on 3 major areas Drilling up exploration prospects in proven Lokichar Basin Opening up new basins…
  3. MAY 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 3
    Location, Location, Location First mover advantage g in securing unequalled acreage position in what is now the worlds world s top exploration spot Over 250,000 sq km or 62 million acres gross Rift Basin Area Four separate…
  4. MAY 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 4
    The Opening of a New Basin Ngamia-1 discovery is Tertiary Rift Play Opener Tertiary/Cretaceous Rifts Resource Estimate North Sea Reserves: (Unrisked): 23 BBO 60+ BBO Exploration Wells: Tertiary: 4, Cretaceous: 7 Exploration Wells:…
  5. MAY 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 5
    Lokichar Basin Low Risk Proven Hydrocarbon System Lokichar Sub-basin Lead F F Time Structure Map Discoveries at Ngamia and Twiga confirm highly Top Lokhone Shale prospective source rock, traps and reservoirs Numerous low risk…
  6. MAY 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 6
    Ngamia-1 Discovery Block 10BB Ngamia-1 Discovery W E Dip Line Ngamia-1 Prospective Area Dip Line Ekales S (formerly Kongoni) St ik Line Strike Li Ngamia-1 Ngamia 1 Discovery 13T 10BB N Strike Line S 2 KM Time…
  7. MAY 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 7
    Ngamia-1 Cross Section Miocene Pliocene Oil in Tests MDT (Planned) 6 Auwerwer Sandstones 775m gross interval with shows ndstones Net pay greater than 100m uwerwer 5 Porosities: 23-29% 4 High permeabilities…
  8. MAY 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 8
    Twiga South-1 Cross Section Core and test data confirm excellent reservoirs in Upper Auwerwer sands: o 23-29% porosity o 100 md - 3 darcy permeability Well produced 2,812 bopd from 3 tests With optimized artificial lift…
  9. MAY 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 9
    2013 Potential Drilling Candidates Tullow-Operated: RIFT BASIN AREA Testing: Twiga Twiga South-1 South 1 Ngamia-1 Shimela Additional testing in contingent budget Sabisa-1 Tullow-Operated: Testing Exploration: Exploration…
  10. MAY 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 10
    Current Rig Schedule Weatherford 804 OGEC 75 Currently C tl ttesting ti N Ngamia-1 i 1 wellll Currently drilling Sabisa Plan to move to Ekales location next Plan to drill Tultule and Shimela wells Likely to continue drilling…
  11. MAY 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 11
    Aggressive 2013 Seismic Program 2013 Program: 4,330 km 2D 3D seismic crew mobilizing into 550 sqkm 3D Lokichar Basin for detailed structural mapping Three 2D onshore seismic crews and one 2D offshore seismic crew to remain…
  12. MAY 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 12
    Ekales (formerly Kongoni) Cross Section Lokichar Sub-basin 24 64 144 Lead F Time Structure Map Top Lokhone Shale Future appraisal of Auwerwer & Ekales-1 deeper targets Etom Twiga South Discovery Agete Ekales Etuko…
  13. MAY 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 13
    Etuko Prospect (formerly Kamba), Block 10BB Etuko Prospect (formerly Kamba) SW Dip Line NE Lokichar Sub-basin Lead F Time Structure Map Top Lokhone Shale Large structures: 70 km2 & 700 m relief Auwerwer Lokhone Sh…
  14. MAY 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 14
    Additional Lokichar Basin Ramp Prospects Possible follow-up to Etuko Prospect Shallow…
  15. MAY 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 15
    South Omo Block Northern String of Pearls AOC 30% WI, Tullow Operates with 50% Sabisa Sabisa-1 1 spud Jan. 2013, potential Basin-Opener Basin Opener Extension of Tertiary rift trend north of Lake Turkana Unexplored, no previous…
  16. MAY 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 16
    Sabisa-1, South Omo Block, Turkana Basin Sabisa-1 drilling ahead in Tertiary clastics Ngamia-style trap, younger Tertiary section Sabisa -1 Tultule Prospect W Dip Line E Testing a new sub-basin A Time Structure Map Sabisa North…
  17. MAY 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 17
    South Omo Basin Ramp Play Sabisa-1 Sabisa West Tultule Projected Prospect Prospect Ramp Play Prospects W River E Shale Mrkr Tertiary Marker 5 Mrkr 3 Base Tertiary, Basement 17
  18. MAY 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 18
    Uganda Lake Albert Ramp Play Discoveries Lake Albert River Nile Kasamene-1 Nigiri-1 Rii-1 Jobi-1 Jobi-East-1 SW 5.6km NE 10.8km 5.5km 4.4km Stratigraphic Trap / Tar Sand 0mSec 500 OWC 1000mSec Wells planned Wells…
  19. MAY 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 19
    Chew Bahir Basin Completed 1,250 km 2D seismic Large number of prospects and leads Chew Bahir Basin AVO anomalies (hydrocarbon indicators) present First Fi t wellll iin new sub-basin b b i planned l d ffor end d off 2013 A…
  20. MAY 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 20
    Newly-Awarded Rift Basin Area PPSA PPSA award follows 3-year Joint Study Rif B i A Rift Basin Area 42,519 sq km Extends AOC position in Tertiary Rift Basins Frontier area, no existing seismic data or wells Initial exploration…
  21. MAY 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 21
    South Anza Basin: Bahasi-1 Prospect (formerly Kinyonga) Block 9 Cretaceous Basin on trend with South Sudan with over 6 billion barrels of oil discovered along trend Bahasi-1 SW NE Pl conceptt confirmed Play fi d att P Paii P…
  22. MAY 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 22
    Jurassic Rift Exploration (Horn Petroleum) Prolific, proven play in Yemen expected Shabeel 1& 2 to extend into Puntland, which shares a common geologic history Shabeel 1, 2 Two wells drilled/operated by Horn Petroleum in Dharoor…
  23. MAY 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 23
    Estimated Prospective Oil Resources SUMMARY OF PROSPECTIVE OIL RESOURCES 1 Current Working Interests Geographic PSC/PSA Operator UNRISKED AOC UNRISKED RISKED4 Region Gross Best Working Net Best Net Best Estimate Interest Estimate…
  24. MAY 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 24
    AOI Corporate Summary Funding g 2013 work program fully funded 2013 Forecast O&G Expenditures (gross): 566MM 272.2MM Cash (31-Dec-2012) 73.6 43.5MM 43 5MM Marathon farmout carry dedicated to Block 9, Block 12 and Rift Basin…
  25. MAY 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 4 million MC 750…
  26. MAY 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 26
    Corporate Social Responsibility Commitment Africa Oil is committed to addressing the challenge of sustainability - delivering value to our shareholders, while providing idi economic i andd social i lb benefits fit tto iimpacted t…
  27. MAY 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 27
    Opportunity Summary Africa Oil has the best onshore acreage position in East Africa Africa, the worlds hottest exploration location The Ngamia g and Twiga g discoveries have significantly g y de-risked the Lokichar sub-basin and…
  28. MAY 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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