Expanding South Lokichar, Kenya Amosing-1 well site Our Horizons Corporate Presentation September 2019 A Lundin Group Company Turkwell River Northern Kenya Rainy Season AOI TSX and Nasdaq Stockholm Kenya first oil cargo South…
AFRICA OIL AT A GLANCE Company Profile Recent Achievements: Kenya: First oil cargo exported Guyana: Tertiary Jethro oil discovery (pre-drill estimate 220 mmbbl, gross) Dual-Listed Market Cash Equity Kenya Phase 1 Kenya: Heads of…
A NEW DAWN COMPELLING VALUATION An African full cycle growth vehicle with Compelling valuation with cash and market production1, cashflow, large exploration upside value of equity investments accounting for more and a world class…
NIGERIA DEEPWATER BUYING PRODUCTION1 Acquiring effective 12.5% interest in the company (POGBV) holding interests Assets Location in offshore Nigeria deepwater producing assets including the world-class Agbami, Egina and Akpo fields…
NIGERIA DEEPWATER AGBAMI, EGINA & AKPO FIELDS Egina FPSO Three giant world-class fields that together account for more than 500,000 bopd or about 20% of Nigerian oil production Exceptional production and reserve replacement history…
KENYA DEVELOPMENT STATUS ALIGNMENT ON PRE-DEVELOPMENT CONTRACTUAL REMAINING DEVELOPMENT PLAN ACTIVITIES AND FISCAL DELIVERABLES EOPS STARTED PROGRESSING WELL TERMS FOR FID Partners and Government Completed FEED studies for Heads of…
KENYA DEVELOPMENT FIRST OIL CARGO First Oil Cargo Heralds Emergence of Kenya as an Oil Exporter First oil cargo destined for Malaysia sailed away from Mombasa on 26th August 2019 Cargo size of 200,000 barrels The ceremony attended by…
SOUTH LOKICHAR DEVELOPMENT PHASES 10km 3D Seismic Phase 2 Phase 3 (Contingent) (Contingent) Phase 1 (Firm) (gross) Discovered Fields Prospects Stratigraphic traps/ prospects Production profiles are indicative and…
NEW EXPLORATION PORTFOLIO APPROACH Portfolio approach allows Africa Oil to access a larger number of highly prospective blocks, for a low entry cost and limited future capital commitments Two major discoveries Brulpadda (South Africa,…
EXPLORATION PORTFOLIO CURRENT VALUATION1 35% 18% 30% Shareholding Shareholding Shareholding USD 125m USD 345m USD 220m* Market Cap Market Cap Market Cap USD 45m USD 62m USD 66m Net Value Net Value Net Value Primary value…
LOCATION OF EXPLORATION BLOCKS Africa Oil, Africa Energy, Impact, & Eco Atlantic Significant costs carried by Majors through 2020 wells Eco (15%) Orinduik Block, Guyana Tullow-Operated Impact (20%)-AGC Profond Jethro oil discovery…
AFRICA ENERGY / IMPACT OIL & GAS SOUTH AFRICA Brulpadda, Block 11B/12B: major condensate and light oil discovery in proximity to existing infrastructure and market Significantly de-risked four Paddavissie and Deep Prospects Massive…
BLOCK 11B/12B WORLD CLASS RESOURCE POTENTIAL Amplitude Variations with Offset (AVO) conformance to 4 Paddavissie Prospects structure and flat spots on Deep Prospect Paddavissie Prospects Leads Oil Field Condensate Field High…
ECO ATLANTIC GUYANA Jethro discovery, Orinduik Block: major Tertiary oil discovery with pre-drill estimate of 220 mmboe (gross)1 Second Tertiary well (Joe-1) is currently drilling with results expected soon The block is up-dip of the…
ECO ATLANTIC JETHRO DE-RISKS TERTIARY PLAY Major discovery, confirms geological model and seismic interpretation Potential upside in adjacent Jethro channel De-risks multiple other Tertiary prospects across the block with further…
IMPACT (20% WI1) NAMIBIA BASIN FLOOR FAN PROSPECT Large basin floor fan supported by AOC participating interest Isopach Map- Venus Prospect Basin floor fan DHI seismic signature AOC affiliate interest (Africa Energy and Impact) 600+…
KEY DRIVERS TO UNLOCK VALUE EXPLORATION KENYA NIGERIA SOUTH AFRICA PORTFOLIO Move forward Close deal and release Brulpadda resources are Drill wells in Guyana and aggressively on project third party being updated with Namibia.…
PROSPECTIVE AND CONTINGENT RESOURCES There is no certainty that any discovered resources referred to in this presentation will be commercially viable to Ability to Execute Exploration and Development Program: produce. There is no…
GLOSSARY OF TERMS AND DISCLAIMERS Glossary of Terms wells and/or operations that are in geographical proximity to or on-trend with prospective lands held by Africa Oil and its investee companies and production information related to…
Thank You Africa Oil Corp. Suite 2000 - 885 West Georgia Street Vancouver, BC Canada V6C 3E8 Email: aoinamdo.com Telephone: (604) 689-7842 Fax: (604) 689-4250 www.africaoilcorp.com
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