OVERVIEW Near-term gas and liquids commercialisation opportunity in Cote dIvoire Overview High impact exploration potential Refocused following significant Board and senior management changes Cote dIvoire: Multiple existing…
COTE DIVOIRE BLOCK CI-202 OVERVIEW Proven basin with five discovered, undeveloped oil and gas fields Gazelle (1977) April 2013: Vitol Farm-In for 65% of Rialto Cote Addax (1977) dIvoire Impala (1978) Multiple high-impact…
ACTIVE FIRST NINE MONTHS OF 2013 Wholesale change of key personnel: Only one of current five man Board (1 exec, 4 NEDs) was a director at the start of September 2012; None of the 2012 executive team remains with the Company (CEO,…
ACTIVE FIRST NINE MONTHS OF 2013 (CONTINUED) Protocol dAccord / Memorandum of Understanding signed with CdI Government in September: New PSC to be awarded, replacing existing agreement New EEA to be issued for Gazelle once…
KEY MANAGEMENT AND NON-EXEC DIRECTORS Rob Shepherd (CEO) 19 years industry experience Dominion Petroleum, ABN AMRO, Shell Andrew Rose (Interim CFO): Previously CFO of Burren Energy, Gulfsands Petroleum NEDs: Andy Bartlett…
OUTLINE FORWARD PLAN CdI: Finalise new PSC for CI-202 and EEA for Gazelle; Close CdI transaction with Vitol; FID on Gazelle followed by execution of project; Pursue additional opportunities: On Block CI-202 - contingent…
OUTLINE PLAN FOR DEVELOPMENT OF GAZELLE Low cost, minimum facilities: 3 production wells planned (plus one contingent) targeting around 40 bcf P90 / 85 bcf P50; Conductor supported offshore facility; Multiphase pipeline to beach…
COTE DIVOIRE GAS MARKET Power Generation Gas Fired Power Generation Cote dIvoire is a net exporter of electricity The current installed capacity of gas fired power plants in country is 900MW, with gas intake of up to 260 mmscf/d…
REGIONAL DEVELOPMENT CONCEPT Mature Gas Market and Onshore Infrastructure Cote dIvoire has a mature power generation network and exports electricity from gas fired power stations Major new energy-intensive mining projects…
FUTURE COTE DIVOIRE EXPLORATION POTENTIAL A new understanding of CI-202 subsurface potential Single seamless dataset of 860km2 covers entire block for the first time First PSTM processed data represents a step change in data…
3D SEISMIC COMPARISON 2010 TRICON MERGED REPROCESSING (POOR) 2012 FAST TRACK PSDM Gazelle Gazelle Bubale Bubale Hippo Hippo Chouette Chouette Condor Arius Arius Condor Top Albian Top Albian Tricon 2012 merged…
SELECTED PROSPECTIVE AREAS 1: GAZELLE-CONDOR 3: INCISED CANYONS Appraisal of Lower Appraisal of oil and gas Cenomanian gas-bearing bearing canyon fills at: reservoirs, initially Gazelle - Hippo - Bubale - Chouette Undrilled…
VOLUMETRICS GROSS MEAN UNRISKED RESOURCES Prospective Resources 1,387 mmboe* & Contingent Resources 85 mmboe* Mean Prospective Resources, Unrisked Prospects Mean Resources, Unrisked 1387mmboe* Mean Prospective v Contingent…
ACCRA BLOCK OVERVIEW GHANA Starfish-1 well, drilled on budget, Proved Cretaceous Reservoir fairway Key Facts Block: Offshore Accra ACCRA BLOCK Ratified by Parliament: March 2010 Gross Acreage: 2,000 sq km Operator: Ophir…
SUMMARY A TRANSFORMATIONAL YEAR New management and board Vitol partnership announced Successful placing raised 14m in July Good shareholder register Active programme with near-term focus on Gazelle project Actively…
APPENDICES 18
MARKET INFORMATION Listing Information Significant Shareholders Shares in Issue 1,155,765,100 As at 4 September Options/Warrants outstanding 66,975,157 Artemis Global Energy 8.65% Fully Diluted 1,222,740,257 Fund Share Price (at close…
FINANCIAL RESULTS FOR Y/E 30 JUNE 2013 Net loss of A170.6 million arising from : A150.8 million impairment of investment in CdI as result of the Vitol deal Expenditure of A11.6 million in terminating 2013 drilling campaign in CdI…
INCOME STATEMENT Income Statement A million 2013 2012 Revenue 0.1 0.7 Interest income Exploration costs (11.6) Mainly termination of rig contract Impairment (150.8) Write down of CdI carrying value G&A (7.9) (11.5) 3.6mm…
CASH FLOW Cash Flow A million 2013 2012 Payments to suppliers & employees (6.4) (6.7) Payment for drilling rig cancellation (10.3) Interest received, less tax paid 0.2 0.6 Net cash from operations (16.6) (6.1) Purchase of…
BALANCE SHEET Balance Sheet A million 2013 2012 Cash 5.8 74.0 Trade & Other Receivables 1.4 1.9 Other Current Assets 1.2 8.3 Current Assets 8.4 84.2 E&E 39.2 139.4 Mainly Cote d'Ivoire PP&E 0.7 0.9 TOTAL ASSETS 48.3 224.4…
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