IN POLE POSITION FOR THE RECOVERY Corporate Presentation September 2020 A Lundin Group Company www.africaoilcorp.com
FULL CYCLE AFRICA FOCUSED Africa Oil is a full-cycle E&P with producing and development PRODUCTION Nigeria Deepwater assets in deep water Nigeria, development assets in Kenya and an E&A portfolio in Africa and Guyana. DEVELOPMENT…
VALUE CREATION STRATEGY Deleverage: use dividends from Prime in priority towards the repayment of the corporate loan Work with JV partners to progress the South Lokichar project to FID while considering all strategic alternatives…
DIRECTING STRONG CASHFLOW TOWARDS DELEVERAGING Africa Oil: No Near-Term Loan Maturity YTD Net Debt (Q220) Debt Maturity 73.1m USD 155.2m Jan. 2022 corporate loan Targeting a minimum further H120 Net Income (adj.) H219 Net Income (adj.)…
PERFORMANCE PEER GROUP BENCHMARKING Africa Oil Share Price Performance (YTD) Prime (gross): FY19 Production Prime (gross): FY19 EBITDA Prime (gross): FY19 Cash Flow 4
NIGERIA KEY CASH FLOW GENERATING ASSETS Egina 50% shareholding in Prime Oil & Gas B.V. 3 of the top 5 oil producing fields in West Africa Akpo 420 kbopd aggregate H120 gross oil production Agbami Low opex 5.1 per boe…
NIGERIA ROBUST PRODUCTION W.I. Production Net to Africa Oils 50% Shareholding in Prime (kboepd) Range contingent on OPEC+ quotas for Q320 - Q420 6
NIGERIA INDUSTRY LEADING HEDGING POSITION 10 cargoes representing a sales volume of 9.50 mmbbl or 4.75 mmbbl net to Africa Oil sold in H120 at an average price of 68.95 Prime has sold forward all 10 planned cargoes for H220 and…
KENYA GROWTH OPPORTUNITY Successfully completed the Early Oil Production System and 500 mmbbl gross field exported Kenyas 1st ever oil cargo recoverable resource potential Block licenses Optimise Formalise extended,…
COMMITTED TO EXPLORATION 3-4 Africa Oil has direct exploration interests in Kenya and South High impact Africa. Through its equity investments in Africa Energy, Eco exploration wells (Atlantic) and Impact Oil and Gas, it also has…
NEAR TERM HIGH IMPACT EXPLORATION
ESG COMMITMENTS Enhanced monitoring and reporting of Fully committed to the goal of operated and non-operated assets will be reducing GHG emissions a key governance tool for the Board of Directors ESG reporting will be included in…
VALUE CREATION STRATEGY Deleverage: use dividends from Prime in priority towards the repayment of the corporate loan Work with JV partners to progress the South Lokichar project to FID while considering all strategic alternatives…
READER ADVISORY This document has been prepared and issued by and is the sole responsibility of Africa Oil Corp. (the Company) and and, as such, undue reliance should not be placed on forward-looking information. The Company assumes no…
Thank You For further information, please contact: Shahin Amini IR and Commercial Manager shahin.aminiafricaoilcorp.com +44 (0) 203 982 6800 Sophia Shane Corporate Development sophiasnamdo.com T: +1 (604) 806-3575…
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