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March 2016 Presentation – Africa Oil Corp.

Africa Oil Corp. · Mar 31, 2016 · 20 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. March 2016 Presentation – Africa Oil Corp. – slide 1
    AFRICA OIL CORP. March 2016 A Lundin Group Company AOI TSX and Nasdaq Stockholm
  2. March 2016 Presentation – Africa Oil Corp. – slide 2
    2015 When the Going Gets Tough. Able to Raise 275MM in a Difficult Market Helios and IFC join Lundin Family and institutional investors that gave us the financial strength to continue moving project forward in difficult low oil…
  3. March 2016 Presentation – Africa Oil Corp. – slide 3
    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…
  4. March 2016 Presentation – Africa Oil Corp. – slide 4
    A Strategic Position in a World Class Oil Project Onshore East Africa An Area the Size of the World Class onshore oil discovery in the South Lokichar Basin in Kenya North Sea Discovered oil resources of over 600 MM barrels with an…
  5. March 2016 Presentation – Africa Oil Corp. – slide 5
    South Lokichar Basin Appraisal Highlights 2015 Exploration/Appraisal wells Wells under review Ngamia, Amosing, Ekales, Etom, Twiga appraisal wells demonstrate reservoir continuity and field Proposed AOI extensions extension Etom 2…
  6. March 2016 Presentation – Africa Oil Corp. – slide 6
    Etom Discovery De-Risks Northern Prospects Etom-1 recovered oil from Lokone reservoirs Block 10BB S. Lokichar Sub-basin Time Structure Map Etom-2 confirms 100m net oil pay in good-quality Auwerwer Top Lokhone Shale and Lokone…
  7. March 2016 Presentation – Africa Oil Corp. – slide 7
    Etom-2 Discovery Etom-2 Etete Prospect North South Time Structure Top Lower Auwerwer Etom-2 Discovery Etom-1 Etete Etom-1 encountered 20- 3D seismic shows Etom-1 was drilled in a structurally-low graben, with 30m of…
  8. March 2016 Presentation – Africa Oil Corp. – slide 8
    Etom Follow-On Potential Erut Enlarged Area Laboria Ekadeli Etom Ebenyo Elim Etete Ekamongo Block 13T Block 10BB Agete Time Structure near Top Late Miocene Volcanic 5 km 8
  9. March 2016 Presentation – Africa Oil Corp. – slide 9
    Amosing-5 (North) Discovery Amosing-5 recovered oil from Auwerwer Sandstones Some pools encountered near oil-water contacts Sidetrack 5A drilled updip encountered 15-28 m of net pay in Auwerwer sandstones Possible static…
  10. March 2016 Presentation – Africa Oil Corp. – slide 10
    Potential Further Resource Additions Block 10BB S. Lokichar Sub-basin Upside to current view of contingent Time Structure Map Top Lokhone Shale resources to come from the Lokichar Basin 3D Laboria Erut and/or new basins Ekadeli…
  11. March 2016 Presentation – Africa Oil Corp. – slide 11
    Basin-Center Sandstones within Lokone Source Rocks Downdip wells at Ngamia, Etuko, Ewoi, Ekales Deep, and Twiga-3 encountered oil-bearing sandstones that confirm play Turbidite or storm deposits could be prolific and widespread…
  12. March 2016 Presentation – Africa Oil Corp. – slide 12
    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)…
  13. March 2016 Presentation – Africa Oil Corp. – slide 13
    Basin-Opening Prospects Drill-Ready for Future Proven major basin Partially tested basin with material undrilled oil plays Partially tested basin under review Near-term Basin Openers: Untested basin with wells planned Untested…
  14. March 2016 Presentation – Africa Oil Corp. – slide 14
    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…
  15. March 2016 Presentation – Africa Oil Corp. – slide 15
    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 Possible direct-hydrocarbon-indicators…
  16. March 2016 Presentation – Africa Oil Corp. – slide 16
    North Lake Abaya Prospects LEAD A LEAD B Acquired Infill Seismic over North Lake Abaya Prospects Ngamia-style structures reachable from shore Lakeshore Large structures offshore could provide materiality once basin is proven LEAD…
  17. March 2016 Presentation – Africa Oil Corp. – slide 17
    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…
  18. March 2016 Presentation – Africa Oil Corp. – slide 18
    2016 Objectives Continue to increase resource certainty Continue with technical and core studies Continue to develop reservoir models (both static and dynamic) as additional testing and studies are complete Progress Development…
  19. March 2016 Presentation – Africa Oil Corp. – slide 19
    Near Term Catalysts Oil Price Recovery Resource Update expected shortly Expecting significant increase due to appraisal well drilling, EWTs and core analysis Will confirm Interim Carry amount (75MM) and initial portion of…
  20. March 2016 Presentation – Africa Oil Corp. – slide 20
    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…

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