Onshore Kenya and Offshore Kenya and the Seychelles November 26th, 2013 Sam Malin Upstream Africa Conference Cape Town
Large Scale Projects in High Potential Basins Extensive East Africa portfolio in areas of great industry interest: assets in Kenya, Seychelles Strong established partners (Ophir, Afren) Balanced risk through: geographical and…
Clearly Articulated Strategy for Value Creation Exposure to high impact oil exploration upside in East Africa Commitment to timely delivery of results in the development of assets Focus on a strong Catalyst-rich story with…
Rapidly Delivering Tangible Results The last six months have yielded transformational progress for Vanoil Q4 12 New CEO Avana deal Fluormin deal appointed announced announced Asset diversification Access to capital Vanoil…
East Africa: A Prolific Source Of Oil & Gas Discoveries Of the largest hydrocarbon discoveries made around the globe in 2012, seven were in East Africa Kenya Ethiopia Africa Oil (50%) Tullow (50%) Ethiopia is underexplored. The most…
A Diverse Portfolio Encompassing 45,000km2 Kenya 3A and 3B onshore 100% interest 24,912 km2 * Operator: Vanoil * Proposal for 35% relinquishment submitted on April 30, 2013 Kenya Kenya Block L9 offshore 10% participating…
Kenya Onshore: Cornerstone Properties in Desirable Exploration Area 100% interest in blocks 3A/3B operated by Vanoil 24,912 km2 845 km of 2D and 100 km2 of 3D seismic acquired to date Block 3A the only 3D survey acquired Block…
Kenya Onshore: On Trend with Large Scale Oilfields and Recent Discoveries Home to multi-billion barrel oilfields Paipai Cretaceous oil suspended for further testing Attracting major players to Kenya Tullow, Marathon, Afren…
Kenya Onshore: Similar in Structure and Scale to Sudans Great Palogue Field The Great Palogue field is estimated to contain in excess of 2.9 billion barrels of oil Vanoils Anza basin is the same family of cretaceous rift systems as the…
Kenya Onshore: Madogashe-1 is Vanoils First Well Madogashe-1 sits in the middle of Vanoils 3D seismic survey and is one of our two drill targets Flower structure with multiple vertically-stacked, fault-trapped closures Madogashe-1:…
Kenya Onshore: Drilling Success Will De-Risk Giant Potential Along Trend Success with Madogashe will have added bonus of proving a play concept that extends across both blocks NORTH STRUCTURE 1 NORTH STRUCTURE 3 Sample of leads on…
Kenya Onshore: Drill-Ready Probable Timeline Madogashe-1: Run Liner cumulative andand cost Test drilling 10 days days Days Sinopec rig secured (last available rig in Kenya) 0 20 40 60 80 100 30 0 Committed to two wells with an…
Kenya Onshore: Low Thresholds for Commerciality Kenya Oil Pipeline Scenarios Low commerciality threshold: assuming 32 API discovered crude, 106.40/bbl Brent base case price and a Lamu pipeline scenario, the threshold for…
Kenya Onshore: Madogashe Well site 15
Kenya Onshore: Madogashe Well site 16
Kenya Offshore: Block L9 is Surrounded by IOCs and Borders a Discovery 10% interest in offshore block L9 operated by Ophir (90%) 5,065km2; water depths ranging from 300m to 1,200m 2,096 km2 3D seismic acquired to date in two 2012…
Kenya Offshore: Multiple Oil and Gas Plays Mapped on 3D Seismic Varied structural setting straddling both the Prospects along Lamu and Tanzania coastal basins zone of strike slip deformation and Major Cretaceous and Tertiary…
Seychelles: Highly Prospective Oil Play 25% of Areas A & B in Seychelles, operated by Afren (75%) 14,319 km2 total area Amoco found hydrocarbon shows in three wells drilled during the 1980s active petroleum system evidenced by…
Busy Programme with a Range of Catalysts Licence 2013 1H 2013 2H 2014 1H 2014 2H Kenya Block 3A and 3B onshore Drill two wells in succession Farm-out process initiated by Potential Block L9 offshore Ophir drilling in 2014…
Experienced Team with Solid Track Record James Passin Sam Malin Don Padgett Chairman Chief Executive Director Managing partner and co- Geophysicist with 20+ years Extensive experience in public founder of Firebird Global Fund…
Active Approach to Corporate Responsibility Experience operating in East Africa Serious approach to the local issues that matter to protect license to operate In close discussions with local governments and communities in Kenya to…
Vanoil in Summary: a Compelling Proposition for Investors Large-scale opportunity in highly prospective areas Reduced risk exposure through diversification and established partners A wide range of potential catalysts to unlock value…
Appendix
Capital Structure Recent mergers One-year performance Vanoils recently announced mergers with Fluormin and 1.40 350,000 Avana Petroleum have left the company with more cash, a 1.20 300,000 deeper shareholder register with an…
Summary of 3A/3B Production Service Contract Terms 15% carried interest for government through exploration phase, with option to convert to WI at commercial phase Additional Government option to acquire (i.e. purchase) 15% WI at…
Summary of 3A/3B Production Service Contract Terms 27
Vanoil Existing 2D Seismic Grid and Mapped Anomalies 28
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