AFRICA OIL June, 2015 A Lundin Group Company AOI TSX and Nasdaq Stockholm
A Strategic Position in a World Class Oil Project Onshore East Africa An Area the World Class onshore oil discovery in the Size of the South Lokichar Basin in Kenya North Sea Discovered oil resources of over 600 MM barrels with an…
2015 MOVING TOWARDS DEVELOPMENT KEY GOALS FOR 2015 Confirm Reservoir Quality and Deliverability Primary drivers are Extended Well Tests (EWTs) and core analysis both are well underway and yielding encouraging preliminary results…
South Lokichar Basin Highlights Amosing EWT is exceeding expectations: 2015 Appraisal (Firm) (Contingent ) Amosing-1, 2A wells flowed 5,600 and 6,000 Extended Well Testing bopd, 31-38o API Appraisal well drilling yielding highly…
Extended Well Tests (EWTs) Amosing and Ngamia EWTs will test reservoir connectivity at the proposed development well EWT results in conjunction spacing in multiple reservoir horizons with core programs, will Hydraulically-controlled…
Initial Amosing EWT results exceed expectations SW NE Strong NE initial clean-up flow tests: Amosing-1 Amosing-2A Perforated High productivity zones produced 31-38oAPI dry oil Interval under natural flow Amosing-2 Amosing-1 flowed…
Ngamia Field appraisal program demonstrates reservoir continuity Ngamia Field Ngamia-7 extends field limits to east; up to 125 metres of net oil pay in Auwerwer, Intra-Lokone and Lokone EWT reservoirs Ngamia-8 encountered 200…
Special Core Analysis results support resource assumptions Ngamia-3 Core High Quality Oil Bearing Sands Over 1100m of core from South Lokichar wells Dean Stark Total Water Saturation Permeability (mD) Extensive program of routine and…
Appraisal Drilling with New 3D Seismic New 3D Seismic Line through Ngamia-1 : Predrill 2D Seismic Interpretation Pronounced anticlinal form at depth through Ngamia-1 Discovery: Better imaging of crestal faulting Ngamia-1 Better…
Twiga Field Appraisal based on 3D Seismic Time Structure near Top Auwerwer Pool-1 Twiga-2 and 2A Sidetrack (13 to 115m net pay) Projected to vertical TVD Upside in Deeper 1 km targets Alluvial Fan/ Rift Facies…
Appraisal Drilling is Extending Ngamia & Amosing Field Limits Ngamia and Amosing appraisal wells extend field limits Wells confirm high net pays and stratigraphic 7 continuity in multiple pools 8 Increasing 1C and 2C contingent…
Amosing North Prospect: Test for connection between Ngamia & Amosing Fields 3D seismic confirms stratigraphic continuity of Auwerwer sandstones between Ngamia Field and Amosing North Prospect Amosing North will test extension of…
3D Seismic Identifies Etom Appraisal Upside North South Time Structure Top Lower Auwerwer Etom-2 Etom-1 Etom-3 Etom-1 encountered 20m of net pay New 3D seismic shows the Etom-1 well was drilled in a 3D mapping…
South Lokichar Basin - World Class Discovered Resource Base (Based on CPR reports dated Aug 2012, Sept 2013 & Sept 2014) Gross Contingent Resources1,2 Net Finding (Excluding Prospective Resources Upside) Cost to Date: 2C 1.93 /bo…
East Africa regional oil export pipeline status 6 BBO Sudan Oil Fields Kenya & Uganda Governments committed to regional crude oil pipeline from Uganda through Kenya Governments of Kenya and Uganda appointed technical pipeline…
Exploration Update Large exploration acreage position: 110,000 sqkm gross within Tertiary Rift Play of Kenya & Ethiopia Reduced capital spend in 2015, but active exploration integrating well and seismic data Abaya-Chamo…
Rift Basin Area Block On trend, extremely large, completely unexplored Frontier area, no existing seismic data or wells Possible extension of Tertiary Rift Play Completed 37,000 sq km FTG survey Fieldwork confirmed source rocks…
Block 12A- Kerio Cheptuket (formerly Lekep) Prospect Miocene Poi Shales in Outcrop: 8 of 16 samples show good to very good source quality with TOCs 3% Type I lacustrine oil prone source rocks Early oil-generation window with…
What you will see in 2015 (Timing of well results) 1Q 2Q 3Q 4Q Firm Contingent Basin Openers Epir Engomo Cheptuket (N.Kerio) (N.Turkana) (Kerio Valley) Lokichar Drill Out Ekales Amosing Etom North Deep 3 Ngamia EWT North…
Summary South Lokichar project still remains one of the top new oil developments in the world with sound fundamentals in terms of resources, reservoir quality, economics and upside Gross Contingent Resources increased by 60 % in…