A Lundin Group Company 1 Hunting Elephants in East Africas Rift Basins January, 2012
2 Exploring in Four Major Rift Systems Africa Oil Assets Tertiary rifts (Kenya & Ethiopia) Cretaceous rifts (Kenya, Mali) Jurassic rifts (Puntland- Somalia) Permo-Triassic rifts (Ethiopia) All of AOC plays are extensions t…
3 East Africa: Vastly Under Explored Proven Petroleum System 4,610 wells 210,000 km2 Norway 61 wells before commercial oil in the North Sea North Sea United Kingdom 50 billion billi b boe reserves 0 200 km 5.5…
4 Play Summary H Have spentt pastt 5 years assembling bli 300,000 km2 (74 MM A 300 000 k Acres)) lland d position 5 corporate deals, 6 farmouts Acquired Seismic and FTG on most blocks 3 seismic crews working to complete all…
5 Tullow Partnership in Tertiary and Cretaceous Rift Trend Tullows Ugandan discoveries now likely exceed 2.5 BBO* in the Lake Albert region. Tullow brings a 97% success rate to our new partnership. Tullow paid 10 MM past costs…
6 Tullow Using New FTG Technology Traditional Gravity New Full Tensor Gravity New technology developed by Bell Labs for US Tullow used FTG very successfully in submarine mapping - released to public in late 90s Uganda Albert…
7 Tertiary Rift Exploration Block 10BB, 10BA, 12A, 13T in Kenya South Omo and Rift Valley Study Blocks in Ethiopia Tullows Uganda discoveries now at 2.5+ billion barrels of reserves Tertiary rift in Kenya/Ethiopia contains the…
8 First Well on Block 10BB, Kenya Ngamia Prospect Area = 12,638 km2 AOC holds a 50% working interest Loperot oil discovery (1991/Shell) and oil recovered in uphole de- 13T N-Kerio risks i k oil il charge h Lake S-Kerio…
9 Block 10BB Ngamia Prospect: Play opener SW NE Metres Ngamia1 Line LOK-10-24 WESTERN RIFT BOUNDING FAULT LOKHONE SH LOKHONE SH MRKR LOKHONE SS Ngamia--1 well Ngamia 5km Closure: P50: 5.0 km2 (1,300…
10 Waraga, Lake Albert Uganda: Tullow Play Opener Waraga-1 Waraga1 DST 3 Wells drilled 3 650 bopd 3,650 (1 choke) 33.80 API H15 15.4m net pay 0.5 Sec DST 2 4,200 bopd (1 choke) 33.80 API 1 6.7m net pay Sec 3…
11 Ngamia Drill Site
12 Another Key Prospect on Block 10BB - Kamba Prospect SW NE P50 P10 KAMBA PROSPECT Depth Structure, CI: 20m 5 KM Vertical relief: 730 m Internal Estimated Resource (100%): Stacked Tertiary SS Reservoirs P50: 200 MMBO…
13 Block 10BA- North Lake Turkana AOC acquired i d 50% WI th through hCCentric t i acquisition i iti Tullow operates with 50% WI, paying 80% Multiple oil slicks interpreted from satellite data FTG survey completed 1,350 km…
2011 Seismic Program on South Omo Block, Ethiopia AOC holds 30% WI, Tullow Operates with 50% Extension Extension of Tertiary rift trend of Tertiary rift trend north of Lake Turkana Unexplored with no previous seismic or wells…
15 Cretaceous Rift Exploration Block 10A and 9 in Kenya Blocks 7 and 11 in Mali Over 6 billon barrels of oil discovered on trend in the analogous system in Sudan Thick oil stained section in 1980s vintage Amoco/Total wells…
16 Block 10A Area = 14,597 km2 AOC 30% CWI, Tullow (OP): 50% Lake Anza Rift: Cretaceous rift Turkana extending into Kenya from Sudan Block 10 BA 3 wells drilled in the 80s by Amoco Block 10A Wells drilled on breached…
17 Regional Seismic line- Pai Pai Sirius-1 Bellatrix-1 Paipai Recent Play Lake Proposed Pliocene Volcanics Maikona formation Miocene Lower Tertiary Upper Cretaceous Lower Cretaceous Jurassic Basement AOC…
18 Block 9 Lake Turkana AOC 100% Anza Rift: Cretaceous Rift Block 10BA extending into Kenya from Sudan. Block 10A 2010 B Bogal-1 l 1 encountered t d thick thi k Block 09 sequences of gas shows Block 10BB Marsabit…
19 Block 9- Bogal-1 Bogal1 Cretaceous clastics (2800-5000 m) 100 sq km closure Tertiary Sand/Shale 91 m possible net gas pay with 5-11% porosity Upper Cretaceous Sand/Shale Tests inconclusive, inconclusive severe losses 2-3…
20 Kenyan Energy Market Kenya Total Primary Energy Supply 20000 Geothermal/Wind 6%, 18000 16000 14000 Biomass 77% 12000 ktoe 10000 8000 6000 Hydro 1% 4000 2000 Oil 16% 0 Source: IEA, 2010 Demand growth is…
21 Jurassic Rift Exploration Dharoor and Nugaal Blocks in Puntland, Somalia Adigala Block in Ethiopia Prolific, proven play in Yemen expected to extend into Puntland, which shares a common geologic l i history hi t Yemen fields…
New Puntland Focused Vehicle DEAL Share exchange agreement between AOC and Denovo (Horn Petroleum Corporation) AOC transfer of its 60% interest in both Dharoor and Nugaal FINANCING AOC put in 10 MM cash and additional 31 MM raised…
Dharoor Block, Puntland DARIN1 Darin1 well drilled in 1958 on the flank of the rift; found oil across several zones. AOC, with new seismic data, has mapped several large prospect including: SHABEEL NORTH Shabeel: Most Likely…
24 Permo-Triassic Rift Exploration Blocks 7/8 in Ethiopia Multi-TCF gas reserves have been discovered in Triassic sandstones Light oil has been tested in fractured Jurassic carbonates El Kuran field discovered by…
25 El Kuran Appraisal, Ogaden Block 8 W E Structure Map Top Jurassic El Kuran-1 El Kuran-2 W E El Kuran-1 5 km AOC Operates with 55% WI Light Light oil recovered from Jurassic limestones in El Kuran1 oil…
26 Community Development CD projects must have: p j CD projects include: Religious neutrality School rehabilitation Sustainability Bursary Fund Local content Farm tools Potential for capacity building Birkahs (water…
27 National Initiatives in Association with Lundin Foundation FOOD SECURITY y p p g Fiveyear partnership with FARM AFRICA on longterm livestock and agriculture; access to improved inputs, microirrigation, VSL, livestock and…
28 World Class Potential in Multiple Petroleum Systems Africa Oil Corp Summary of Unrisked and Undiscovered Oil Prospective Resources1 Current Working Interests Current Working Interests Geographic PSC/PSA Operator Gross Best…
29 Size of the Prize Prospective Resources Indicative Risked Potential Potential Net Best Estimate Risk Factor Prospective Resources Value (MMbbl) (MMbbl) (MM) 20% 1,065 4,506 5,326 10% 533 2,253 1% 53 225 Recently…
30 A History of Value Creation Company 2002 Present 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 illi MC 4 million MC…
31 Summary AOC has assembled a robust highly prospective East African portfolio that spans 4 different proven petroleum provinces with multi-billion barrel potential AOC has experienced management and staff with offices in…
32 AOI has a Strong Management Team Keith Hill, President and CEO M Hill h Mr. Hill has over 25 years experience in the oil industry including international new venture management and senior exploration positions at Occidental…
33 Cautionary Statements This document contains statements about expected or anticipated future events and financial results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties,…
Loading...
