AFRICA OIL CORP. N November b 201 2015 A Lundin Group Company AOI TSX and Nasdaq Stockholm
2015 When the Going Gets Tough. Able to Raise 275MM in a Difficult Market Helios and IFC jjoin Lundin Family y and institutional investors that g gave us the financial strength to continue moving project forward in difficult low…
Maersk Deal Transformational Project Attractive to Large Companies Even in Low Price Oil Environment Low Cost, Good Terms, Big Volume Maersk Ideal Partner to Move Project Forward Strong Experience in International Oil Projects…
A Strategic Position in a World Class Oil Project Onshore East Africa An Area the Size of the World o dC Class ass o onshore s oeo oil d discovery sco e y in the e Sou South Lokichar o c a Basin in Kenya North Sea Discovered…
South Lokichar Basin Appraisal Highlights 2015 Exploration/Appraisal wells Amosing-5 completed as a field extension Wells under review Etom 2 well to follow later this year. Ngamia, Amosing and Ekales appraisal wells Proposed AOI…
Potential Further Resource Additions Block 10BB S. Lokichar Sub-basin Time Structure Map Top Lokhone Shale Upside to current view of contingent 3D Erut resources to come from the Lokichar Basin and/or new basins Etom-2 Elim…
Amosing-5 (North) Discovery Amosing 5 recovered oil from Auwerwer Sandstones Amosing-5 Some pools encountered near oil-water contacts Sidetrack 5A drilled updip encountered 15-28 m of net pay in Auwerwer sandstones Possible static…
Etom Discovery De-Risks Northern Prospects Etom discoveryy extends pplayy fairwayy north 10-20m net pay with oil recovered to surface 400m of shows in high quality reservoirs De-risked prospects Etom to Agete Correlation…
3D Seismic Identifies Etom Appraisal Upside Etom-2 North South Time Structure Top Lower Auwerwer Etom-2 Etom-1 Etom-3 Etom-1 encountered 10-20 m 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 1800 bopd) Apparent inflow from sandstones at Ngamia (while drilling), prospective…
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)…
4 Basin-Opening Prospects Drill-Ready for Future Proven major basin Near-term Basin Openers: Partially tested basin with material undrilled oil plays Partially tested basin under review Untested basin with wells planned North…
Block 13T - North Lokichar Basin Emesek (Tausi) Prospect Emesek-1 (Tausi Prospect) Based on newly acquired 2013 -2014 seismic 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 T I lacustrine l t i oilil prone source rocks Early…
Rift Basin Area Block On trend, extremely large, completely unexplored Possible extension of Tertiary Rift Play Fieldwork confirmed source rocks within block Completed 600km 2D seismic program g Possible…
East Africa regional oil export pipeline status Kenya & Uganda Governments committed to regional crude oil pipeline from Uganda through Kenya northern route agreed 6 BBO Sudan Oil Fields Pipeline Pre-FEED, routing and…
2015 Drilling Plan (Timing of well results) 1Q 2Q 3Q 4Q Firm Basin Openers Epir Engomo Emesek Cheptuket (N.Kerio) (N.Turkana) North Lokichar (13T) (Kerio Valley) Lokichar Drill Out Ekales Ek l -22 Amosing-5 A i 5 Et…
Near Term Catalysts Oil Price Recovery Finalize Export Pipeline Details Commercial structure, security plan and detailed routing Drilling two high impact wells in next two months Etom-2 Well which has potential to open up new…
Summary Recent Maersk farmout and IFC/Helios financings give AOI an extremely strong balance sheet funds allow AOI to finance its share of development costs to reach first oil without further equity raises South Lokichar project…