Eco (atlantic) Oil & Gas Ltd. · TSXV:EOG
Eco (atlantic) Oil & Gas — Investor Presentation (February 2022)
25 slides from Eco (atlantic) Oil & Gas's investor presentation, February 2022
Slide 1: Eco Atlantic: Generating Value Through High Growth Energy Projects
Generating Value Through High Growth Energy Projects Eco Atlantic Exploring the Atlantic Margin
Slide 2: Disclaimer
Disclaimer IMPORTANT NOTICE The information contained in this presentation (this "presentation") has been prepared by Eco (Atlantic) Oil & Gas Ltd ("the Company") as at the date of this presentation and is subject to updating, completion, revision, further verification and amendment without notice.
Slide 3: Company Overview – Progress to date
Company Overview – Progress to date Focused on creating shareholder value through a rich portfolio of prospects and opportunities Eco granted 4 offshore Acquired Azinam Group and portfolio in blocks, HRT’s Wingat-1 Updated Guyana CPR: 29% Increase Namibia and S Africa. Low risk S Africa Discovery in
Slide 4: Strong Board and Management Team
Strong Board and Management Team Significant experience in establishing, growing, financing and monetizing energy companies across Africa and S. America Moshe Peterburg (Non-Executive Chairman) Keith Hill (Non-Executive Director) • Over 30 years’ experience in Africa (Nigeria, Equatorial Guinea, Gha
Slide 5: Strategic Acquisition of Azinam Group Limited
Strategic Acquisition of Azinam Group Limited Cashless Acquisition increasing exposure in frontier hotspot: Eco acquire 100% of Azinam, in return for a 16.5% equity stake in the enlarged Eco share capital on completion.1 Acquiring two South Africa Exploration blocks in Orange basin neighbouring Shel
Slide 6: Eco's Strategic Partnerships and Value Creation
Eco’s Strategic Partnerships and Value Creation 2017 2018 2019 2021 2022 Africa Oil Corp. TotalEnergies Raised US$17 million Eco acquired up to 10% stake in Eco acquired 100% of Azinam invested CAD$14m in US$12.5 million through oversubscribed JHI Associates, a private company Group which had a mate
Slide 7: Eco Atlantic's Offshore Exploration Portfolio
Eco Atlantic’s Offshore Exploration Portfolio Three Atlantic Margin Plays – Offshore Guyana, Namibia and South Africa Totalling 55,836 Km2 Guyana – Orinduik & Canje (JHI) South Africa – 2B & 3B/4B Offshore Namibia – Cooper, Guy, Tamar & Sharon Orinduik – Eco WI 15% Operator Tullow Oil 2B – WI 50% Op
Slide 8: Exploration Guyana
Exploration Guyana
Slide 9: Guyana-Suriname Basin a World Class Frontier Hydrocarbon Province
Guyana-Suriname Basin a World Class Frontier Hydrocarbon Province Discovered recoverable resource estimate of over 10 billion barrels of oil equivalent to date1 Orinduik Block – Direct WI held since 2015 • 170 km offshore Guyana, block covers 1,800km2 adjacent and updip of the Stabroek Block • Eco h
Slide 10: Guyana Strategic Positioning Building on Orinduik Footprint
Guyana Strategic Positioning Building on Orinduik Footprint Exposure to large Canje play and prospectivity Page 10
Slide 11: Orinduik Block Play Diversity and Multi-Billion Barrels Prospectivity
Orinduik Block Play Diversity and Multi-Billion Barrels Prospectivity Orinduik Kanuku 2019-2020 2021-2022 • Two oil discoveries in Tertiary, 55m and 16m net pay, ~11.5-14°API • Seismic reprocessing completed August 2021 • Both discoveries confirm geological model and seismic interpretation • Partner
Slide 12: Building on Significant Guyana Resource Potential
Building on Significant Guyana Resource Potential Enhancing Guyana footprint and play exposure: Canje Block is located ~180km offshore Guyana, covers ~4,800km2 in deep to ultra- deep water (1,700m-3,000m), and contains prospectivity in both continental slope and basin floor targets. Canje Block lies
Slide 13: Exploration Namibia and South Africa
Exploration Namibia and South Africa
Slide 14: Offshore Namibia Sought After Frontier Exploration
Offshore Namibia Sought After Frontier Exploration Significant acreage position in prospective offshore oil province • Namibia’s first ever oil discovery announced 4th February 2022, by Shell|Qatar Energy|Namcor, Woodmac assume base case of 700 million barrels of oil recoverable • Four large Operate
Slide 15: Substantial stake in two basins – Walvis and Orange
Substantial stake in two basins – Walvis and Orange Shell | Qatar Energy | Namcor Block 2913A Graff-1 light oil Discovery TotalEnergies | QE | Impact Block 2913B Venus-1 Well, Maersk drillship spud 7/12/21 Eco | Africa Energy | Panoro Block 2B Gazania-1 Well, Anticipated to spud H2 2022 Page 15
Slide 16: Orange Basin – Prospectivity
Orange Basin – Prospectivity Block 2B Operator 50% WI1 27.5% WI Block 3B/4B 12.5% WI 10% WI 20% WI1 Operator 20% WI 60% WI 1. On completion of Azinam acquisition Page 16
Slide 17: Near-Term Drilling: Gazania-1
Near-Term Drilling: Gazania-1 Block 2B: Eco Atlantic 50% WI, Op Block 2B Asset Summary Basin Orange Basin First well Gazania-1 Planned spud date By November 2022 Water depth 150m First well prospect > 300 MMbbl (1) Well cost estimate ~$25M Play type Rift basin Work program to date 686 km2 of 3D seis
Slide 18: South Africa Block 2B
South Africa Block 2B A-J Graben Axial Delta Play • Proposed drilling location will test both Namaqualand and Gazania Prospects • Gazania Prospect up-dip of proven oil discovery (A-J1) • Porosity improvement inferred by seismic inversion work Slide courtesy of Africa Energy Corp. Page 18
Slide 19: Un-risked Recoverable Oil Resources (MMbbls)
South Africa Block 2B Contingent & Prospective Resources Gross 2C Contingent Best Estimate Prospective Resources A-J Graben Prospect Map Resources 1,000 Northern Graben Un-risked Recoverable Oil Resources (MMbbls) 800 400 MMbbl 600 225 MMbbl 400 A-J1 well Axial Delta Play 37 MMbbl Contingent, 400 MM
Slide 20: Exploration in Basin-Opening Plays
Exploration in Basin-Opening Plays Active drilling along trend: Block 3B-4B: Eco Atlantic 20% WI Venus-1, Graff-1 Offshore Namibia TotalEnergies Isochron Map Basin floor fan Shell Block 2912 1,880 km2 3D 2913A Venus Prospect ~600+ sqkm Graff Strong AVO anomaly Prospect confirmed-Amplitude shutoff co
Slide 21: Schematic Section showing Play Types
Schematic Section showing Play Types Block 3B/4B South Africa and offshore Namibia “Graff” “Venus” 1. Original section from NAMCOR, APPEX Conference presentation 2018, Modified by Africa Oil Corp. 2022 Page 21
Slide 22: Solar Energy
Solar Energy
Slide 23: Strategic Solar Investment – subsidiary of Eco
Strategic Solar Investment – subsidiary of Eco Solear is an independent renewable energy company creating a portfolio of investment grade solar development assets to attract capital for maturing through to construction and operation • Solear was established to capture economically competitive grid s
Slide 24: Eco's Investment Case
Eco’s Investment Case Generating Value Through High Growth Energy Projects Exploration Success Well positioned Growth Strategy Strong Financials Over 7.5 Billion barrels Sector wise and Potential Farm-outs, drilling US$6.2M Working Capital estimated resource1 geographically and solar PV projects and
Slide 25: Company Contact Information
Company Contact Information Gil Holzman Colin Kinley Alice Carroll Chief Executive Officer Chief Operating Officer Head of Marketing and IR gil@ecooilandgas.com colin@ecooilandgas.com alice@ecooilandgas.com Registered Office 7 Coulson Ave TSX-V: EOG LON AIM: ECO Toronto ON M4V 1Y3, Canada www.ecooil
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