AFRICA OIL CORP. September 2016 A Lundin Group Company AOI TSX and Nasdaq Stockholm Moving Forward to Development
In Pole Position for Oil Price Recovery Highly Enviable Financial Position US500MM in cash with no debt due to Maersk farmout and 2015 fund raising efforts New key shareholders include Helios and IFC Potential for up to 480MM in…
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 760 MM barrels with an…
South Lokichar Basin Huge Upside Remaining 2015 Exploration/Appraisal wells Wells under review Resources have grown Year on Year by an average of 50% since 2012 Proposed AOI extension Etom 2 discovery encounters high net pay and…
Etete, Erut and Northern Prospects Enlarged Area Erut Ekadeli (5.2 sqkm) (30 sqkm) Elim (3.6 sqkm) Elim Block 13T Block 10BB Ebenyo Elim East (7 sqkm) (4.7 sqkm) Etom Field (5.5 sqkm) Ekamongo (2 sqkm) -Many…
Etete Prospect Spud in Q4, 2016 Tests southern side of Etom Complex Auwerwer and Lokone targets less than 1,800 meters North South Etom-2 Etete Etom Field Etom West Etete Lokone Time Prospect Structure 1km 6
Erut Prospect Spud in Q4, 2016 Tests northern extent of South Lokichar Basin Erut (30 sqkm) Auwerwer and Lokone at less than 1,600 meters Large upside Time Structure Potential to de-risk northern prospects near Top Lokone 2…
West Etom Prospect Upside prospectivity within Etom Complex West Etom (dip line) Auwerwer and Lokone < 1500 meters W Etom-1 Etom-2 E Volc West Auw Etom Etom Field West Etom (strike line) S N Volc Auw Etete…
Inventory of High-impact Prospects Agete and Twiga Deep Block 10BB S. Lokichar Sub-basin Time Structure Map Test upside in Lokone Sandstones 3D Erut Top Lokhone Shale Plays partially confirmeddrill complete section Etom…
Inventory of High-impact Prospects Lopara & Ekosowan North Prospects Tests large stratigraphic trap between Amosing & Ekosowan Pinchout of Auwerwer and Lokone at basin edge Potential to add significant resources & extend Amosing…
Basin-Centered Fan Plays Ekales Basin-Centered Fan One of several prospects to target basin-centered fan encapsulated within thick source rock interval Multiple reservoir targets within thick (600-900m) interval Potential to add…
Upcoming Appraisal Drilling Ngamia Ngamia South & Amosing Updip Appraisal Drill and Complete in Q1, 2017 Amosing Lopara Potential to add significant 1C resources within Ekosowan discovered fields 10km Ngamia Field Amosing…
South Lokichar Basin - World Class Discovered Resource Base (Based on CPR reports dated Aug 2012, Sept 2013, Sept 2014 & Dec 2015) Gross Unrisked Contingent Resources1,2 mmbo (Excluding Prospective Resources Upside) 1800 Over 50%…
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…
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…
Kenya oil export pipeline status Kenya Government committed to northern route crude oil pipeline Still leaving open potential to add Uganda and/or South 6 BBO Sudan Oil Fields Sudan into regional pipeline SOUTH Pipeline Joint…
2016 Objectives Increase resource size and certainty Upcoming Drilling Program Key to Growth of both 2C and 1C resources Continue with technical and core studies, water injection test Progress Development Studies Prepare for…
Summary Strong Financial Position US500MM in bank and potential for up to US480MM in additional development carries South Lokichar project still has huge growth potential in new and existing discoveries and play types expect…
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