UBIMA FIELD ACQUISITION AUGUST 2014 Ubima Creek Review Slide 1 11
Background Eland is an independent West African focused exploration and production company OML 40, Elands core asset, is located in the North West Niger Delta region. OML 40 produces at 3,500 bopd from two existing wells OML 40…
Ubima Asset Overview The licence area is 64.57km2, located onshore in the northern part of Rivers State and has been carved out of OML 17, operated by the Shell Petroleum Development Company 2C resource estimates of 34 mmbbl of oil…
Ubima Field Map The Ubima Field is located onshore with excellent road access and 14 km from Port Harcourt International Airport. The proposed export pipeline will be tied into the existing pipeline network and oil exported via…
Ubima Transaction Highlights Wester Ord Oil & Gas Ltd (the Company), a wholly owned subsidiary of Eland, has acquired a 40% interest in the Ubima Field from Allgrace Energy Limited Farm-in fee of 7 million Production bonus of 3…
Ubima Development Plan Stage 1 Stage 2 Stage 3 H2 2014 H1 2015 H2 2015 Full subsurface review Early production Drilling of 4 and Field through the re-entry development wells Development Plan of Ubima-1 Subsurface Studies - Use…
Ubima Financial Summary Field Economics Deal Terms New entrant tax status (65.75%) has been 7m plus 3m assumed for the first 5 years of production, Acquisition cost production bonus thereafter rising to standard 85% PPT rate…
Ubima Opportunity Overview 2C resources of 34 mmbbl* Excellent Resource Base 2C gas resources of 97 Bcf of non-associated gas to support viable gas commercialisation projects Well Defined Well appraised field with four wells…
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