A Lundin Group Company www.africaoilcorp.com Africa Focused Independent E&P Third Quarter 2021 Results 16 November 2021
GOING FROM STRENGTH TO STRENGTH YTD received 3 dividends for total of 150m Dividends From 350m received since the acquisition = 67% of closing cash Prime payment Paid down 91% of corporate debt and 44% of Prime debt Deleveraging…
QUARTERLY PRODUCTION HIGHLIGHTS Production at Higher End of 2021 Management Guidance Range W.I. Production (BOE/d) Entitlement Production (BOE/d) 31000 31000 29000 29000 27000 27000 25000 25000 23000 23000 21000 21000…
PRIMES QUARTERLY CASH FLOW HIGHLIGHTS Primes Cashflow From Operations ( million) Net to Africa Oil 600 500 Upper end of guidance (440m) 400 Lower end of guidance (310m) 300 200 100 0 Q1'21 Q2'21 Q3'21 Q4'21 FY21 CFFO…
PRIMES OPERATIONAL HIGHLIGHTS Off-take and Four Prime oil liftings with 2.0MMbbl net to AOC Sales Average sales price of 58.6/bbl OPEX 5.2/BOE compares to Q221 unit cost of 5.6/BOE CAPEX 9.6m net to AOCs interest in Prime…
AFRICA OIL FINANCIAL HIGHLIGHTS Net Income ( million) Q321 Net income of 58.5m 100.00 (9M: 135.8m) 50.00 Repaid 227m of 250m corporate 0.00 loan facility since Q4'19 Q1'20 Q2'20 Q220 Q3'20 Q320 Q4'20 Q420 Q1'21 Q121 Q2'21…
AFRICA OIL FINANCIAL HIGHLIGHTS Corporate Loan Refinancing Closed on July 16, 2021 Facility amount and Significant interest Maturity extended commitments reduction 1st year from Jan22 to increased to 160m LIBOR+6.5% May24 62m…
PRIME FINANCIAL HIGHLIGHTS (NET TO AOCS 50%) 50% of Primes EBITDA ( million) Q321 EBITDA 300.00 EBITDA CFFO 191.5m (9M: 489.8m) 250.00 Q321 CFFO 200.00 128.4m (9M: 466.6m*) 150.00 End Q321 cash 100.00 244.9m 50.00 End…
USE OF FREE CASH FLOWS DELEVERAGING NEW ACQUISITION SHAREHOLDER OPPORTUNITIES RETURNS AOC corporate debt reduced by 91% since Disciplined search Strong cashflows January 2020 for new accretive support plans for return…
NEAR TERM EXPLORATION NAMIBIA AND SOUTH AFRICA Block 2912 Isochron Map Basin floor fan Venus Prospect 1,880 km2 3D 600+ sqkm Target spud: Q421 Gazania Strong AVO anomaly Prospect confirmed-Amplitude shutoff conforms to…
KENYA DEVELOPMENT REDESIGNED AND OPTIMIZED Progressing the Project Draft Field Development Plan (FDP) submitted to the Government of Kenya On track to meet licence extension commitments at year end Actively seeking strategic…
AFRICA FOCUSED FULL CYCLE E&P COMPANY Building on strong cash flows to strengthen and grow our full-cycle business. AGC Profond Guyana Nigeria Kenya Namibia Exploration Development South Africa Production RESERVES1…
READER ADVISORY Accounting for Africa Oils (Africa Oil, AOC or the Company) Interest in Prime The terms BOE (barrel of oil equivalent) is used throughout this press release. Such terms may be misleading, particularly if used in…
FORWARD LOOKING STATEMENTS This document has been prepared and issued by and is the sole responsibility of Africa Oil Corp. (the Company) and such information, such as market prices for oil and gas and chemical products, the Companys…
www.africaoilcorp.com 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)…
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