Investor Presentation September 2014 Shaping the Future of Oil Exploration in Africa
Who we are Africa focused exploration and production company with assets in West and Southern Africa. Management team and Board with strong relationships and experience in global financial markets. Strong technical team with deep…
Management Team Lekan Akinyanmi, Executive Board Member Chief Executive Officer Formerly the international Energy Sector Head at AllianceBernstein L.P. (Global asset manager with over 400 Billion under management) with direct…
Corporate Strategy: Pan African Focus Otakikpo 40% interest Dahomey Basin Niger Delta New Basins Exploit overlooked opportunities in new and existing basins 4
OPL 310: Background and update Dahomey basin block identified as a key target by LEKOIL- commissioned regional basin study. In 2013, Lekoil funded first 50M towards drilling an exploration well and sidetrack that resulted in the…
OPL 310: Ogo well Previous predicted sequence 8
OPL 310: Updated structure map post Ogo-well 9
OPL 310: Syn-rift upside scenario 10
Otakikpo Marginal Field: Producing asset Awarded to Green Energy in 2011 Located in swamp location in OML 11 adjacent to shoreline Otakikpo field has partial 2D coverage with some 3D seismic in the Southern Area 3 wells have been…
Otakikpo Marginal Field: Transaction highlights Lekoil acquired 40% stake in Otakikpo marginal field from Green Energy (Net 2C recoverable resources of 14mmbbls). Farm-in fee of 7M (implied 0.5/bbl acquisition price). Production bonus…
Otakikpo Marginal Field: A compelling transaction to showcase our technical capability Near-term oil production potential (Potential to achieve production within 18 months) The acquisition will showcase Lekoils ability to operate…
Otakikpo Marginal Field: Notional development plan Re-enter and test Otakikpo 2 and 3, sidetrack Otakikpo 1 (optional) Install Early Production Facility - EPF PHASE 1 Evaluate feasibility of Small Scale Gas Utilisation Project…
Otakikpo Marginal Field: Financial Summary Funding Lekoil acquired stake (%) 40% Equity funding of 15M - 20M expected in combination with Reserves Based Lending (RBL) Net resources acquired (bbl) 14.41 facility Project unit costs…
Corporate Strategy: Near term objectives Medium Term (18 to 36 Months) Long Term (36+ Months) Objectives 1. Commence and grow production from 1. Continue phased implementation of Otakikpo Marginal field. Otakikpo development. 2.…
Non-Executive Directors Sam Adegboyega, Non-Executive Board Member Chairman Over 32 years of oilfield experience including working with Dowell Schlumberger in Iraq, Abu Dhabi, Venezuela, Canada, Syria, France and Nigeria. Founder and…
Non-Executive Directors Gregory Eckersley, Non-Executive Board Member Currently the global head of the Abu Dhabi Investment Authoritys internal equities department where he oversees portfolios, risk management and the due- diligence…
Dahomey Basin 22
Key Institutional Shareholders Re-enter and test Otakikpo 2 and 3, sidetrack Otakikpo 1 (optional) Install Early Production Facility - EPF BLAKENEY MANAGEMENT Evaluate feasibility of Small Scale Gas Utilisation Project (SSGUP)…
www.lekoil.com NIGERIA 179A MOSHOOD OLUGBANI ST VICTORIA ISLAND, LAGOS T. +234 1 277 0560 Contact Details USA Hamilton Esi VP Corporate Communications 136 MAIN STREET SUITE 301 hamiltonLEKOIL.com PRINCETON, NJ 08540…
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