AFRICA OIL CORP. March 2017 A Lundin Group Company AOI TSX and Nasdaq Stockholm Moving Forward to Development
In Pole Position for Oil Price Recovery Highly Enviable Financial Position US463MM (Dec 31th 2016) in cash with no debt due to Maersk farmout and 2015 fund raising efforts New key shareholders include Helios and IFC Potential for up…
A Strategic Position in a World Class Oil Project Onshore East Africa Significant World Class onshore oil discovery in the South Lokichar Rift Valley Basin in Kenya Land Base Discovered oil resources of over 760 MM barrels with an…
South Lokichar Basin Huge Upside Remaining Resources have grown Year on Year by an average of 50% since 2012 Erut discovery further unlocks northern play fairway Etom 2 discovery encounters some of the best quality reservoir…
Etete, Erut and Northern Prospects Enlarged Area E Erut East Erut Ekadelli Ekadelli (3.6 sqkm) West Elim Block 13T Block 10BB Emekuya Elim (7 sqkm) (4.7 sqkm) Etom Field (5.5 sqkm) -Many Large Undrilled…
Erut Prospect TD of 1317m reached in January Overall oil column between 100 and 125m Erut 55m Gross Oil Interval 25m Net Oil Pay Time Structure Has de-risked other prospects near Top Lokone 2 km Emekuya Etom Field…
Etete Prospect Tests southern side of Etom Complex Auwerwer and Lokone targets less than 1,800 meters North South Emekuya Etom-2 Etete Etom Field Etiir Etete Lokone Time Prospect Structure 1km 7
Etiir Prospect Upside prospectivity within Etom Complex Etiir (dip line) Auwerwer and Lokone < 1500 meters W Etom-1 Etom-2 E Volc Auw Emekuya Etiir Etom Field Etiir (strike line) S N Volc Auw Etete Lokone Time…
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…
Ongoing Appraisal Drilling Ngamia Ngamia South & Amosing Updip Appraisal Drilling nearing completion Amosing Lopara Testing flanks of existing fields Ekosowan 10km Ngamia Field Amosing Field Ngamia Amosing South…
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 Near-term Basin Openers: South Kerio (Block 10BB) Separated from Central, North Kerio Basins by strike slip faults, could share same source rocks as South Lokichar Tulya, Thilli,…
North Lake Abaya Prospects LEAD B Acquired Infill Seismic over North Lake Abaya Prospects LEAD A 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 SOUTH 6 BBO…
2017 Objectives Increase resource size and certainty Ongoing Drilling Program Key to Growth of both 2C and 1C resources Continue with technical and core studies, water injection testing Progress Development Studies Prepare for…
Summary Strong Financial Position US463MM (Dec 31st 2016) 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…
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