AZONTO PETROLEUM Corporate Presentation October 2014
BUSINESS UPDATE Gazelle gas-to-power project in Cote dIvoire progressing towards FID Upstream segment (Vioco): Field Development Plan approved Preferred (EPIC) contractor identified Gas sales term sheet near to agreement Bank…
AZONTO SNAPSHOT Small E&P Company focussed currently on West Africa: Cote dIvoire : development/exploration Ghana : exploration Market Capitalisation A13mm Dual listed ASX/AIM Emphasis on discovered hydrocarbons With material…
EXPERIENCED MANAGEMENT TEAM Skin in the game: 2.5% of ISC + up to 13%* via LTIP * % of fully diluted Issued Share Capital 5
WHY (WEST) AFRICA GDP growth forecast to outpace the rest of the World: Strong growth is fuelling demand for more: power and hence demand for more domestic gas production; and Government investment that, in conjunction with…
WHY APPRAISAL AND DEVELOPMENT OVER EXPLORATION According to a report recently published by Tudor Pickering (a specialist Energy advisor): Of their 20 exploration wells to watch in 2013, four were commercial discoveries (1 in 5);…
COHERENT GROWTH STRATEGY Discovered Better Risk/reward Hydrocarbons: Faster conversion to cash flow onshore or Selective exploration, farm out pre-drill shallow water Opportunities in discovered hydrocarbons West Africa Cote…
COTE DIVOIRE BLOCK CI-202 : VIOCO PETROLEUM JV: Azonto 35%, Vitol 65% Vitol to fund first 50m of capex for Field Development Plan Gas development project: Gazelle: 92bcf 2C, 47bcf 1C awaiting development approval Additional…
GAZELLE GAS DEVELOPMENT 2 new wells + 1 re-completion to give 3 gas producers 50 mmscfd initial production Simple platform with minimal offshore processing FID objective remains year-end 2014 Gross capex to first gas now 230mm…
COTE DIVOIRE : BEYOND GAZELLE 24 525 101 523 Independence 1X and 2 Appraisal 2014 2014 Prospect maturation ongoing 2015 Drilling shallow prospects Deep Arius prospects depend on agreement with holders of…
GHANA : ACCRA BLOCK Azonto Ghana (Azonto 57%) has a Key Facts Gross Acreage: 2,000 sq km 45% interest* in the Accra Block and Operator: Azonto Exploration Period: max. 7 years acts as Operator. Agreement Term: 30 years Ophir, Tap,…
ACCRA BLOCK PLAY DIAGRAM Starfish-1 not Tested the Potential of the Cenomanian-Turonian or Syn Rift Plays 13
CURRENT UNDERSTANDING OF THE PROSPECT INVENTORY Play Test Option (1): Albian tilted fault blocks Nautilus, Seahorse Analog: Espoir field, Cote dIvoire Play Test Option (2): Cenomanian/Turonian hinge inversion Sealion, Sealion…
MANAGING THE CHALLENGES Existing relationships, local credibility Doing Business in Africa Extensive experience in region French language speakers Project team experience Getting Gazelle to FID Vitol relationships in Cote…
FINANCIAL POSITION / COST REDUCTION Cash at 30.6.14 of A8.5mn G&A funded till mid-2015, but new projects will require fresh capital 16
LATENT VALUE IN EXISTING ASSETS ASSUMPTIONS Gazelle value from May 2014 CPR (assuming Petroci 16% back-in), adjusted to 12% discount rate (from 15%) & discounted by a further year to reflect mid 2016 start-up Corporate Overhead…
A COMPANY TO WATCH Total focus on growing shareholder value: no lifestyle managers Balanced and experienced management team with strong African Experience Management are aligned with shareholders with substantial skin in the…
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