A Major j Emerging g g Oil Company in East Africa SEB Nordic Seminar Copenhagen, January 2014 A Lundin Group Company
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…
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…
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…
Lokichar Basin Low Risk Proven Hydrocarbon System 100% success rate to date 5 for 5 on exploration wells Lokichar Sub-basin Time St Ti Structure t Map M Etuko oil discovery confirms extension of productive Top Lokhone Shale…
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…
Lokichar Basin Exploration through 2014 Etom North Best-Estimate Gross Resources: Gross Best Estimate Contingent (2C) Upcoming Wells: Prospective : 234 MMBO Resources to date: Etom Complex Spud 1H, 1H 2014 1 368 MMBO (gross)1…
Ngamia-Amosing Area Etom Kenya North Et Etom Agete Twiga South Etuko Ewoi Loperot Ekales Enlarged Map Ngamia West Ngamia-1 Ekunyuk Ngamia (Emong) Lokichar Ngamia West (Emong) Amosing Basin as Ekosowan 13T…
Ewoi-Ekunyuk Prospects- The Rift Flank Play Etom Kenya Large Structural Traps North Depth Structure: Top Etom o o e Sou Lokhone Source ce Rock oc Agete Enlarged Map Possible Stratigraphic 5km Twiga Component South Etuko…
South Lokichar Basin Building World Class Resource Base Best Estimate (2C) and Upside (3C) Gross Contingent mmbo Resources Unrisked prospect average 1,000 size increased from 851 81 mmbo (2012) to 800 Lokichar Basin Upside (3C) 204…
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…
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…
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…
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…
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…
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…
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…
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.…
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…
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…
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 &…
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…
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…
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…
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…
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, Ekales and Agete g discoveries have significantly…
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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