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JANUARY 2013 CORPORATE PRESENTATION – Africa Oil Corp.

Africa Oil Corp. · Jan 10, 2013 · 37 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. JANUARY 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 1
    A Lundin Group Company Opening a New Oil Frontier in East Africa Corporate Presentation January, 2013 1
  2. JANUARY 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 2
    2012 A Transformational Year for AOI Drilled 2 new discoveries with Tullow in the Tertiary rift which opened up a new basin. Very thick pays with reservoir quality to be confirmed. Drilled 2 wells in Puntland with no security…
  3. JANUARY 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 Four separate petroleum systems proven to…
  4. JANUARY 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…
  5. JANUARY 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 5
    AOC Assets & Index Map Africa Oil Corp. Interests in Blocks Country AOC WI% Operator Tertiary Rift Trend 10BB Kenya 50% Tul l ow Oil plc Dharoor Adigala 10BA Kenya 50% Tul l ow Oil plc 12A Kenya 20% Tul l ow Oil plc Nugaal…
  6. JANUARY 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 6
    Southern String of Pearls Lokichar Sub-basin Lead Time Structure Map Two new major discoveries at F Top Lokhone Shale Ngamia and Twiga significantly de- risk Lokichar Basin 6 Additional similar prospects on trend Lead Sw ala…
  7. JANUARY 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 7
    Reservoir Quality: Ngamia-1 & Twiga South-1 Auwerwer Sandstones- PRIMARY RESERVOIR IN LOKICHAR BASIN: Thin sections from Ngamia-1 (formerly Upper Lokhone Sandstones) 30-100m estimated net pay in Twiga and Ngamia, Net/gross 30% Oil…
  8. JANUARY 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 8
    Ngamia-1 Discovery Block 10BB Ngamia-1 Discovery W E Dip Line 13T 10BB Ngamia-1 2 KM Dip Line Time Structure Map Upper Lokhone Sandstone Ekales S (formerly Kongoni) Ngamia-1 Discovery Strike Line N Strike Line S…
  9. JANUARY 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 9
    Ngamia-1 Cross Section Miocene Pliocene Oil in Tests MDT (Planned) Auwerwer Sandstones Auwerwer 4 Sandstones 775m gross interval with shows Net pay greater than 100m Porosities: 23-29% 3 Oil recovered from 7 MDTs 30 deg.…
  10. JANUARY 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 10
    Twiga South-1 Discovery, Block 13T Twiga South-1 W E Volcanic1 Lokichar Sub-basin Lead Time Structure Map F Top Lokhone Shale Auwerwer Spud August 21, 2012 Testing Lead E Ngamia look-alike Similar targets Tw iga Lokhone…
  11. JANUARY 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 11
    Twiga South-1 Cross Section Miocene Pliocene Oil in Tests MDT (Planned) Auwerwer Sandstones Auwerwer Sandstones 515m gross interval with shows 5 70m of reservoir quality sands 4 Net pay greater than 30m 3 Prospective…
  12. JANUARY 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 12
    Twiga South-1: Wellbore Position at Shallow & Deep Targets Time Structure: Top Auwerwer Sandstones Time Structure: Base Auwerwer Sandstones Twiga South-1 located Twiga South -1 within outside of closure for Top closure at base…
  13. JANUARY 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 13
    Paipai Prospect, Block 10A Sirius-1 Bellatrix-1 Paipai Prospect Recent Play Lake Miocene Lower Tertiary Upper Cretaceous Lower Cretaceous Jurassic Basement Source: Tullow Spud September 29, 2012 and drilling…
  14. JANUARY 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 14
    2013 Potential Drilling Candidates Tullow-Operated: Testing: Shimela Twiga South Ngamia Sabisa Tullow-Operated: Testing Additional testing in contingent budget Exploration Appraisal Exploration: AOC-Operated Exploration…
  15. JANUARY 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 15
    Potential 2013 Lockichar Basin Wells Lokichar Sub-basin Lead Time Structure Map F Top Lokhone Shale Tullow-Operated: Testing Sw ala Exploration Appraisal AOC-Operated Exploration Etuko Twiga S. Test Twiga-2 Loperot…
  16. JANUARY 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 16
    Ekales S & D (formerly Kongoni), Block 13T Ekales S D W Dip Line E Lokichar Sub-basin Lead Time Structure Map F Top Lokhone Shale Volcanic1 Spud Q1, 2013 Auwerwer Ngamia look-alike Lead Similar trap & reservoir targets E…
  17. JANUARY 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 17
    Ekales (formerly Kongoni) Cross Section Auwerwer Sandstone Targets Lokhone Shale Source Rocks L. Lokhone Sandstone Targets 17
  18. JANUARY 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 18
    Etuko (formerly Kamba), Block 10BB Etuko Prospect SW Dip Line NE Lead Lokichar Sub-basin Time Structure Map Large structures: 70 km2 F Top Lokhone Shale Auwerwer & 700 m vertical relief Stacked Tertiary Lokhone Sh sandstone…
  19. JANUARY 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 19
    Prospects Updip of Etuko & Loperot Loperot-1 Prospect L Possible follow-up to Kamba A Potential for shallow…
  20. JANUARY 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 20
    South Omo Block Northern String of Pearls AOC 30% WI, Tullow Operates with 50% Sabisa-1 to spud Dec. 2012/Jan. 2013; potential Basin-Opener Extension of Tertiary rift trend north of Lake Turkana Unexplored, no previous seismic or…
  21. JANUARY 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 21
    Sabisa Prospect Sabisa-1 projected spud Dec. 2012 Located after 1,000 km 2D seismic program Sabisa -1 Tultule Prospect W Dip Line Ngamia-style trap, younger Tertiary section A E Time Structure Map Sabisa North Tertiary Marker…
  22. JANUARY 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 22
    South Omo Basin Ramp Play Sabisa Sabisa West Prospect - Tultule Prospect Projected Prospect Ramp Play Prospects W River Line ET-SO-2011-22 and 22ext E Shale Mrkr Tertiary Marker 5 Mrkr 3 Base Tertiary, Basement…
  23. JANUARY 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 23
    Cretaceous Rift Exploration Paipai-1, Block 10A 10A Paipai- Spud 2H, 2012 Drilling ahead Surface Pundamilia volcanics 9 Extension of Ndovu Sirius oil-prone Over 6 billon barrels of oil discovered sub-basin into…
  24. JANUARY 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 24
    2013 Prospects, Block 9 Lower Cretaceous Time Structure 0 20 Km Ndovu Pundamilia Kinyonga Bogal 24
  25. JANUARY 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 25
    Kinyonga Prospect, Block 9 Kinyonga Prospect SW NE Tertiary Play 60 SQ KM 4-WAY CLOSURE Tertiary Mrkr1 Tertiary Mrkr2 5km Tim e Structure Tertiary-Cretaceous Unconformity Tertiary-Cret. Unconformity Basement…
  26. JANUARY 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 26
    Pundamilia Prospect, Block 9 SW Pundamilia (Proj) NE A Large (100 sqkm) structural closure Tertiary and Cretaceous sandstone targets Tert. Marker L. Tertiary Basement L. Cretaceous NW Pundamilia SE 5 km B B Tert.…
  27. JANUARY 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 27
    Blocks 7/8 El Kuran-3: Spud by July 2013 New Age has assumed operatorship with 40%WI, AOC 30%, Afren 30% 2013 plan is to drill a well to appraise reservoir characteristics of Jurassic carbonates. Proposed depth: 2300m 500m…
  28. JANUARY 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 28
    Jurassic Rift Exploration (Horn Petroleum) Prolific, proven play in Yemen expected to extend into Puntland, which shares a common geologic history Two wells drilled/operated by Horn Petroleum in Dharoor Block in 2012 confirm…
  29. JANUARY 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 29
    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…
  30. JANUARY 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 30
    AOI Corporate Summary Completed 232MM fund raising in December of 2012 Sufficient funding to last into 2014, even in acceleration case 2013 Oil & Gas Expenditures (gross): 468MM Board approved exploration budget of 468MM gross,…
  31. JANUARY 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 31
    Major Milestones Over Past Three Years
  32. JANUARY 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 32
    Benchmarked Share Performance Comparison AOI number one constituent by market cap on TSXV TSXV performance -20% AOI performance +356% (+637% at peak 11.35) 32
  33. JANUARY 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 33
    Analyst Coverage Twelve brokerage firms cover Africa Oil to date: Pareto Investec First Energy Scotia Dundee Ambrian RBC Canaccord Nomura Deutsche GMP SBG 3 Outperform, 8 Buy and 1 Sell Target price from 7.60 to 16.50…
  34. JANUARY 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 34
    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 4 million MC 750 million MC 2006 Red…
  35. JANUARY 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 35
    Community Development and Social Investment Locally elected committees to determine project spend Small scale, quick win projects to demonstrate positive impact Medium scale projects to improve community development Longer term…
  36. JANUARY 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 36
    Opportunity Summary Africa Oil has the best onshore acreage position in East Africa, the worlds hottest exploration location The Ngamia and Twiga discoveries have significantly de-risked the Lockichar sub-basin and more discoveries…
  37. JANUARY 2013 CORPORATE PRESENTATION – Africa Oil Corp. – slide 37
    AOI has a Strong Management Team Keith Hill, President and CEO Mr. Hi l l has over 25 yea rs experience in the oil i ndustry i ncluding i nternational new venture management and senior exploration positions a t Occidental Petroleum a nd…

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