A Lundin Group Company A Major Emerging Oil Company in East Africa Twiga South-1 Test, Block 13T, Kenya Annual General Meeting June, 2013 1 Ngamia-1 Test, Block 10BB, Kenya
2013 The Proof in the Pudding Drilling program opens 3 new basins Lokichar, North Anza and North Turkana 2013 program now focused on 3 major areas Drilling up exploration prospects in proven Lokichar Basin Opening up new basins…
Location, Location, Location First mover advantage g in securing unequalled acreage position in what is now the worlds world s top exploration spot Over 250,000 sq km or 62 million acres gross Rift Basin Area Four separate…
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 Wells:…
Lokichar Basin Low Risk Proven Hydrocarbon System Lokichar Sub-basin Lead F F Time Structure Map Discoveries at Ngamia and Twiga confirm highly Top Lokhone Shale prospective source rock, traps and reservoirs Numerous low risk…
Ngamia-1 Discovery Block 10BB Ngamia-1 Discovery W E Dip Line Ngamia-1 Prospective Area Dip Line Ekales S (formerly Kongoni) St ik Line Strike Li Ngamia-1 Ngamia 1 Discovery 13T 10BB N Strike Line S 2 KM Time…
Ngamia-1 Cross Section Miocene Pliocene Oil in Tests MDT (Planned) 6 Auwerwer Sandstones 775m gross interval with shows ndstones Net pay greater than 100m uwerwer 5 Porosities: 23-29% 4 High permeabilities…
Twiga South-1 Cross Section Core and test data confirm excellent reservoirs in Upper Auwerwer sands: o 23-29% porosity o 100 md - 3 darcy permeability Well produced 2,812 bopd from 3 tests With optimized artificial lift…
2013 Potential Drilling Candidates Tullow-Operated: RIFT BASIN AREA Testing: Twiga Twiga South-1 South 1 Ngamia-1 Shimela Additional testing in contingent budget Sabisa-1 Tullow-Operated: Testing Exploration: Exploration…
Current Rig Schedule Weatherford 804 OGEC 75 Currently C tl ttesting ti N Ngamia-1 i 1 wellll Currently drilling Sabisa Plan to move to Ekales location next Plan to drill Tultule and Shimela wells Likely to continue drilling…
Aggressive 2013 Seismic Program 2013 Program: 4,330 km 2D 3D seismic crew mobilizing into 550 sqkm 3D Lokichar Basin for detailed structural mapping Three 2D onshore seismic crews and one 2D offshore seismic crew to remain…
Ekales (formerly Kongoni) Cross Section Lokichar Sub-basin 24 64 144 Lead F Time Structure Map Top Lokhone Shale Future appraisal of Auwerwer & Ekales-1 deeper targets Etom Twiga South Discovery Agete Ekales Etuko…
Etuko Prospect (formerly Kamba), Block 10BB Etuko Prospect (formerly Kamba) SW Dip Line NE Lokichar Sub-basin Lead F Time Structure Map Top Lokhone Shale Large structures: 70 km2 & 700 m relief Auwerwer Lokhone Sh…
Additional Lokichar Basin Ramp Prospects Possible follow-up to Etuko Prospect Shallow…
South Omo Block Northern String of Pearls AOC 30% WI, Tullow Operates with 50% Sabisa Sabisa-1 1 spud Jan. 2013, potential Basin-Opener Basin Opener Extension of Tertiary rift trend north of Lake Turkana Unexplored, no previous…
Sabisa-1, South Omo Block, Turkana Basin Sabisa-1 drilling ahead in Tertiary clastics Ngamia-style trap, younger Tertiary section Sabisa -1 Tultule Prospect W Dip Line E Testing a new sub-basin A Time Structure Map Sabisa North…
South Omo Basin Ramp Play Sabisa-1 Sabisa West Tultule Projected Prospect Prospect Ramp Play Prospects W River E Shale Mrkr Tertiary Marker 5 Mrkr 3 Base Tertiary, Basement 17
Uganda Lake Albert Ramp Play Discoveries Lake Albert River Nile Kasamene-1 Nigiri-1 Rii-1 Jobi-1 Jobi-East-1 SW 5.6km NE 10.8km 5.5km 4.4km Stratigraphic Trap / Tar Sand 0mSec 500 OWC 1000mSec Wells planned Wells…
Chew Bahir Basin Completed 1,250 km 2D seismic Large number of prospects and leads Chew Bahir Basin AVO anomalies (hydrocarbon indicators) present First Fi t wellll iin new sub-basin b b i planned l d ffor end d off 2013 A…
Newly-Awarded Rift Basin Area PPSA PPSA award follows 3-year Joint Study Rif B i A Rift Basin Area 42,519 sq km Extends AOC position in Tertiary Rift Basins Frontier area, no existing seismic data or wells Initial exploration…
South Anza Basin: Bahasi-1 Prospect (formerly Kinyonga) Block 9 Cretaceous Basin on trend with South Sudan with over 6 billion barrels of oil discovered along trend Bahasi-1 SW NE Pl conceptt confirmed Play fi d att P Paii P…
RIFT VALLEY EXPLORATION East Africa June 2013
Nugaal & Dharoor Blocks - Puntland, Somalia Horn Petroleum (Operator): 60% Red Emperor: 20% Range Resources: 20% Drilled two wells in 2012 in Dharoor Block Entered Second Exploration Period in October, October 2012 Valid until…
Location Map with Wells and Seismic Dharoor Nugaal 24
Somalia/Puntland political up-date New Somali Federal government was established in September 2012. Working with Federal Member States on division on W ki ith F d l M b St t di i i powers and responsibilities Major issues…
Shabeel 1 Summary Shabeel 1 drilled to 3,470 m MD in basement. Evidence of hydrocarbons and reservoir is present throughout the Upper Cretaceous Jesomma and Tisje Formations. Wireline logging including pressure data indicated…
Shabeel North-1 Summary Sh b l Shabeel North1 drilled to 3,945 m MD, total depth in basement. h d ill d 3 9 ld hi b Evidence of hydrocarbons and reservoir was present throughout the Upper Cretaceous Jesomma and Tisje…
Shabeel Wells Post Drill SW Line AOC-08-052 NE EAR Unconf Taleh Mrkr Auradu Mrkr Jesomma Intra Gumburo Mrkr Qishn 28
Dharoor Proposed p Seismic 2013 PROPOSED SEISMIC PROGRAM 1000 km 0 40km 29
Dharoor Proposed Seismic 2013 LEAD D LEAD D LEAD C LEAD B LEAD A 0 20 km 30
Dharoor Proposed Seismic 2013 SW LEAD A LEAD B NE EAR Unconf Taleh Mrkr Auradu Mrkr Intra Gumburo Mrkr Jesomma Qishn 31
The Future Continue to work to resolve Puntland / Federal Government issues so that work program can continue Pursue new ventures in Southern Africa Tertiary Rift trend Build a exploration focused vehicle using the same principles…
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…
AOI Corporate Summary Funding g 2013 work program fully funded 2013 Forecast O&G Expenditures (gross): 566MM 272.2MM Cash (31-Dec-2012) 73.6 43.5MM 43 5MM Marathon farmout carry dedicated to Block 9, Block 12 and Rift Basin…
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 y Valkyries 0.45/share / 16.00/share / Sold to Lundin Petroleum 4 million MC 750…
Corporate Social Responsibility Commitment Africa Oil is committed to addressing the challenge of sustainability - delivering value to our shareholders, while providing idi economic i andd social i lb benefits fit tto iimpacted t…
Opportunity Summary Africa Oil has the best onshore acreage position in East Africa Africa, the worlds hottest exploration location The Ngamia g and Twiga g discoveries have significantly g y de-risked the Lokichar sub-basin and…
AOI has a Strong Management Team Keith Hill, President and CEO Mr. Hill has over 25 years experience in the oil industry including international new venture management and senior exploration positions at Occidental Petroleum and Shell…
Cautionary Statements This document has been prepared and issued by and is the sole responsibility of Africa Oil Corp. (the Company) and its subsidiaries. It comprises the written materials for a presentation t ti to t investors i t…
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