AFRICA OIL CORP. SEPTEMBER, 2017 A Lundin Group Company AOI TSX and Nasdaq Stockholm Moving Forward to Development
In Leading Position for Oil Price Recovery Highly Enviable Financial Position US437MM (Aug 10th 2017) in cash with no debt due to Maersk farmout and 2015 fund raising efforts A further 75MM of proceeds from Maersk farmout to be…
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 760 MM barrels with an upside…
South Lokichar Basin Upside Still Remains Steady growth in resources Year on Year since 2012 Erut and Emekuya discoveries further re-enforces potential of the northern play fairway Extended well production and successful…
Etete, Erut and Northern Prospects Enlarged Area Erut E Erut East Ekadelli Ekadelli (3.6 sqkm) West Elim Block 13T Block 10BB Emekuya-1 Elim (4.7 sqkm) Etom-3 Etom Field -Many Large Undrilled Prospects Etiir -…
Erut-1 Discovery TD of 1317m reached Overall oil column between 100 and 125m Erut E Erut East 55m Gross Oil Interval 25m Net Oil Pay Time Structure near Top Lokone 2 km Emekuya-1 Etom-3 Etiir-1 (P&A) Etom…
Emekuya-1 Discovery Reached Total Depth of 1,356m after testing main Auwerwer and Lokone Pools Approximately 75m Net Oil Pay Pressures indicate continuity with Etom-2 Proven Oil-water contact extended deeper than pre-drill…
Etom-3 Discovery Reached total depth of 1,244m after penetrating Auwerwer and Lokone formations Approximately 29m net oil and gas pay Pressures indicate continuity with greater Etom field Well confirmed increasing amount of rift…
Etete Prospect Tests southern side of Etom Complex Auwerwer and Lokone targets less than 1,800 meters Emekuya North Etom-2 Etete South Etom Field Etete Lokone Time Prospect Structure 1km 9
Ngamia and Amosing Appraisal Drilling Results Ngamia Ngamia South 65m net oil pay Amosing Lopara Amosing Updip Appraisal Ekosowan 35m net gas and oil pay 10km Ngamia Field Amosing Field Ngamia Amosing South Updip…
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 Steady…
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…
Lamu Port progressing Add Picture(s) 13
Lamu Port progressing Add Picture(s) 14
Lamu Port progressing Add Picture(s) 15
Ethiopia - 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…
2018 Objectives Resource size and certainty Ongoing operational activities, including water injection pilot, Single Well Tracer Testing (SWTT) will enhance predictions for waterflood results and selected production testing will…
Summary Strong Financial Position US437MM (Aug 10th 2017) in bank with 75MM to be received in 2018 from Maersk farmout and potential for up to US405MM in additional development carries South Lokichar project still has growth…