AFRICA OIL CORP. September 2015 A Lundin Group Company AOI TSX and Nasdaq Stockholm
2015 Progress Moving Towards Development Strong Balance Sheet with new Long-term Core Investors Helios and IFC join Lundin Family and institutional investors to give us strength to continue project moving forward in difficult low…
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…
South Lokichar Basin Appraisal Highlights 2015 Exploration/Appraisal wells Amosing North well currently drilling Etom 2 Wells under review well to follow later this year. New deep horizon penetrated at Twiga 3 which will be further…
Amosing Field EWT Successfully completed EWT main production flows Sustained free-flowing production from all oil-bearing intervals Water injection testing still ongoing, early results of injection rates are being evaluated…
Ngamia EWT Progress Update Ngamia-8, -6, -3 well completions run successfully and full zonal pressure integrity achieved Ngamia Field Well clean-ups completed on all wells EWT Well test permeabilities in-line with expectation;…
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 and Ekales Field Appraisal Underway Tw-3 Twiga Field Tw-2 Ekales Field Ekales Deep discovered several new pools 3D shows larger structure north of Ekales-1 Twiga-3 confirmed limit of Auwerwer pools but…
Twiga Field Appraisal based on 3D Seismic Time Structure near Top Auwerwer Pool-1 Upside in Deeper targets 1 km Alluvial Fan/ Rift Facies 3D-Seismic Coherency Twiga-3 confirmed limit of near Top Auwerwer Pool-1 shallow…
Upcoming Appraisal Wells- South Lokichar Basin Block 10BB S. Lokichar Sub-basin Time Structure Map Top Lokhone Shale 3D Etom Amosing North (Drilling) North Etom Etom-2 Etom East Agete Twiga Candidates under review:…
Amosing North Prospect (Drilling) Test 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…
Etom Discovery De-Risks Northern Prospects Etom discovery extends play fairway north 10-20m net pay with oil recovered to surface 400m of shows in high quality reservoirs De-risked prospects Etom to Agete Correlation Shows…
3D Seismic Identifies Etom Appraisal Upside Etom-2 North South Time Structure Top Lower Auwerwer Etom-2 Etom-1 Etom-3 Etom-1 encountered 20-80m of net pay New 3D seismic shows the Etom-1 well was drilled in a 3D…
South Lokichar Basin: Basin Center Fan Reservoirs Twiga South wells tested oil at high rates from sandstones within source rocks (rates up to 3270 bopd 10,000+ flow rates unconstrained); apparent inflow from sandstones at Ngamia…
South Lokichar Basin - World Class Discovered Resource Base (Based on CPR reports dated Aug 2012, Sept 2013 & Sept 2014) Gross Contingent Resources1,2 2014 CPR report data completed using mid- (Excluding Prospective Resources Upside)…
East Africa regional oil export pipeline status Kenya & Uganda Governments committed 6 BBO Sudan Oil Fields to regional crude oil pipeline from Uganda through Kenya northern route agreed Pipeline Pre-FEED, routing and…
South Lokichar Basin World Class Development Established material resource base in South Lokichar basin that significantly exceeds threshold for development, still huge upside for resource growth through exploration in both the…
Exploration Update Large exploration acreage position: 110,000 sqkm gross within Tertiary Rift Play of Kenya & Ethiopia; 15,000 sqkm in Cretaceous play Reduced capital spend in 2015, but active exploration integrating well and…
Block 13T- North Lokichar Basin Emesek (Tausi) Prospect Emesek-1 (Tausi Prospect) Based on newly acquired 2013 -2014 seismic 25km Emesek-1 (Tausi Prospect) 20km Immediately north of the South Lokichar producing trend…
Block 12A- Kerio Valley 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…
Rift Basin Area Block On trend, extremely large, completely unexplored Possible extension of Tertiary Rift Play Fieldwork confirmed source rocks within block Recording of 600km 2D seismic program underway Possible…
2015 Drilling Plan (Timing of well results) 1Q 2Q 3Q 4Q Firm Basin Openers Epir Engomo Emesek (proposed)) Cheptuket (N.Kerio) (N.Turkana) North Lokichar (13T) (Kerio Valley) Lokichar Drill Out Ekales Amosing North Etom-2…
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…
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