MADAGASCAR OIL LIMITED Company Presentation October 1st 2013
Introduction 1. Tsimiroro Steam Flood Pilot Performance to date Steam Flood Pilot fully commissioned Steady progress achieved on cyclic phase and extensive data gathering ongoing Continuous steam injection commenced 2. Full Field…
Tsimiroro Steam Flood Pilot Year to Date 2013 Performance
Madagascar Oil Limited Block 3104 Tsimiroro Tsimiroro Block 3104 The Tsimiroro Field is a giant heavy oil reservoir 60 Km North South, 5-10 Km East West Stock Tank Oil Originally In Place Netherland Sewell 2011 Contingent Resources…
Madagascar Oil Limited Block 3104 Tsimiroro Steam Flood Pilot Conceived after 2008 CSS Huff and Puff success Designed as a test of the thermal recovery method successfully applied in California, Indonesia Typical steam flood recovery…
Tsimiroro Steam Flood Pilot 2013 Commissioning Milestones MILESTONES 2013 Construction Completion - a significant achievement 7 Company Presentation 1 October 2013
Tsimiroro Steam Flood Pilot 2013 Commissioning Milestones MILESTONES 2013 8 Company Presentation 1 October 2013
Tsimiroro Steam Flood Pilot 2013 Commissioning Milestones MILESTONES - Production Train Commissioning 9 Company Presentation 1 October 2013
Tsimiroro Steam Flood Pilot 2013 Progress on Operations and Data Gathering Commissioning Issues overcome; good progress now being made Jan - March Preparation for operations completed, new Field team in place 8 April Commencement of…
Tsimiroro Steam Flood Pilot CSS (Huff and Puff) Operations Initial wells are into their 3rd Huff and Puff Cycle eg PSF-2 Tsimororo Steam Flood Pilot - Well Perfomance PSF-2 April to September 2013 200 8,000 Cumulative Steam…
Tsimiroro Steam Flood Pilot Steam Flood Operations ISF-1, 2, 5 and 9 are on continuous steam injection Tsimororo Steam Flood Pilot - Well Perfomance ISF-1 April to September 2013 400 12,000 Water Prod Cumulative Steam…
Tsimiroro Steam Flood Pilot Early Steam Flood Temperature Response A small but significant temperature response is developing in Observation Well-1 Temperature Observation Well OBS-01 Response 13 Company Presentation 1 October…
Tsimiroro Steam Flood Pilot Good Uniform Reservoir Quality in the SFP Area A Wireline Log Cross Section shows the good oil leg, reservoir continuity in the SFP Area SW NE PSF-05 OBSF-01 PSF-06 ISF-05A OBSF-02 ISF-09 OBSF-03…
Tsimiroro Steam Flood Pilot Current Challenges Individual Steam Injection rates are lower than initially predicted Typically 50-250 BWEPD compared to 300 BWEPD expectation Being addressed through increased injection pressures…
Tsimiroro Full Field Development Plan
Tsimiroro Development Planning Development Plan - Document The Development Plan will integrate all Geological & threads of technical, commercial and Geophysical non-technical (Stakeholder) issues Reservoir Exploration Drilling…
Tsimiroro Field Development Planning Development Plan Timeline Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Main Deliverables Declaration of Commerciality (DoC) Development Plan Submission Process - PSC requires 180 Days from DoC…
Tsimiroro Development Planning Tsimiroro Field Development Phases Proposed phased Field Development Plan Steam Flood Pilot Phase 1 Phase 2 Phase 3, 4, 5 The phases will encompass ever larger areas of the field and will include…
Tsimiroro Development Planning Notional Phased Development Phases - Key Characteristics Steam Flood Phase 1 Phase 2 Phases 3, 4, 5 Pilot STOOIP 3 MMb 50-100 MMb 300-500 MMb 1,700 MMb Recovery Cyclic to Steam Cyclic to Steam Flood…
Tsimiroro Field Development Planning Sub-Surface - Geological and Engineering Geological Tsimiroro Full Field Interpretation in progress incorporating ALL QCd data-sets Wells (Logs, Core and Cuttings), 2D Seismic, AGG, ERT, Surface…
Tsimiroro Field Development Planning Facilities Engineering Tsimiroro Phase 1, Early Production System (EPS) Maximum use of existing Steam Flood Pilot Plant Will involve oil transportation by trucking Use existing 3 oil storage…
Tsimiroro Field Development Planning Drilling Drilling and Approach Completions Cost Estimate Multiple Well Designlight andtruck mounted drilling Construction rigs in operation for shallow wells Planning Wells designed…
Tsimiroro Field Development Planning Stakeholder Issues Drilling Currentand focusCompletions areas Cost Estimate Benefits Well Designto and Madagascar Construction Planning Environmental Equipment and&Consumables Social…
Tsimiroro Development Planning Road sections East and West of Tsimiroro SFP may require upgrades Trucking Crude Oil in Phase I to Tana and Maintirano 3 Madagascar Downstream companies have received Tsimiroro crude samples for…
Tsimiroro Field Development Planning Phase One Markets Local & International South Africa Tsimiroro crude sample received in Rotterdam in September for Refinery Assay 26 Company Presentation 1 October 2013
Progress on Exploration Blocks
Madagascar Oil Exploration Licences Blocks 3105, 3106, 3107 Block Summaries Block 3105 - Manambolo Concession Operator: Madagascar Oil 100% Legacy Well Control - 6 Wells 1971-1993 Area: 3980 sq km (0.980 MM Ac) Bemolanga…
Madagascar Oil Exploration Licences Blocks 3105, 3106, 3107 Data Consolidation 2013 Work Program started with Data QC Data Consolidation of the Exploration Licences is nearing completion Seismic Data AGG (Airborne Gravity…
Madagascar Oil Exploration Licences Blocks 3105, 3106, 3107 ERCL (Henley) are completing the data Consolidation and Interpretation Completed Work April to August 2013 Data QC, correction and consolidation; incorporation of newly…
Madagascar Oil Exploration Licences Blocks 3105, 3106, 3107 Farm Out Schedule Exploration Farm-Out Process Completion of subsurface interpretation and compilation of a Prospect Inventory Invitations to selected third parties to…
Current & Future Funding
Financial Update & Future Company Funding Financial Update February 2013 - approximately 78m (gross) raised in a Placing and Open offer 30 September 2013 - 37.0m cash on hand, plus further restricted cash of 1.1m Funded well into…
Summary Significant operational progress made Completion of SFP Construction Work Cumulative oil Production to 30 September 2013 nearly 15,000 BBLS Encouraging thermal responses from recent well performance Tsimiroro Field…
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