Petronor E&p Asa · OSL:PNOR
Petronor E&p Asa — African Petroleum — Investor Presentation (April 2017)
18 slides from Petronor E&p Asa's investor presentation, April 2017
Slide 1: Corporate Presentation April 2017
Corporate Presentation April 2017 www.africanpetroleum.com.au
Slide 2: Disclaimer
Disclaimer This Presentation has been prepared by African Petroleum Corporation Limited (Company). under any circumstances create an implication that there has been no change in the affairs of Company Group since the date of this Presentation. Summary information This Presentation contains summary i
Slide 3: Company Highlights
Company Highlights World Class Exploration Acreage Position Market Statistics (21-Apr-2017) > Large acreage position in West Africa Margin: 4 countries, 8 licences# Listing OAX (APCL) > 7.4bn+ barrels net unrisked prospective oil resources~# Shares on Issue 117,924,204 Significant Discoveries in Adj
Slide 4: Experienced Board & Management Team
Experienced Board & Management Team Jens Pace: CEO & Executive Director > 30 years at BP, and heritage company Amoco, gaining E&P leadership experience in Africa, Europe and Russia > Managed an active exploration portfolio for BP in North Africa > Additional experience in the areas of field developm
Slide 5: World Class Exploration Acreage in Proven Basins
World Class Exploration Acreage in Proven Basins Net Prospective Oil Resources: >7.4Bnbbls#@ SENEGAL Net Prospective Resources Surrounded by 1,779mmbbls@ Industry Activity 2 licences: 14,2162 (net) 90% WI CÔTE D’IVOIRE Net Prospective Resources 1,273mmbbls# 2 licences: 1,6332 (net) 45% & 90% WI THE
Slide 6: Securing Licence Partners
Securing Licence Partners Côte d’Ivoire: Ophir Energy (Mar 2016) – Completed > New PSC negotiated for CI-513 licence in Côte d’Ivoire: better fiscal terms, lower holding costs and an extension to work commitments > Ophir Energy holds a 45% Operated interest > African Petroleum received US$16.9m in c
Slide 7: Ayame-1X Exploration Well – May 2017
Ayame-1X Exploration Well – May 2017 > Partners: Ophir Energy (Operator) 45% African Petroleum 45% Petroci (carried) 10% > Rig: Seadrill West Saturn > Target: Santonian & Turonian turbidite channel complexes > Prospect size: 352MMbbls# > Water depth: 2,835 metres MSL > Planned TD: 5,459 metres TVDSS
Slide 8: Share Price Performance – 14 Months
Share Price Performance – 14 Months 10.00 Total volume traded (1 year): 137.5m shares (117% of issued capital) 7,000,000 9.00 Heads of Terms and 6,000,000 Exclusivity 8.00 Agreement for New Ophir Senegal & Gambia Energy PSC completes 5,000,000 7.00 (CI-513 – Côte Private Placement: OAX Closing Price
Slide 9: Recent Third Party Catalyst Activity
Recent Third Party Catalyst Activity WOODSIDE › SENEGAL: KOSMOS ENERGY & BP (SENEGAL / MAURITANIA) announced › Tortue-1: Apr 2015 made a “significant, play-opening gas discovery” that “far acquisition of exceeded” their pre-drill expectations1 35% interest from › Nov 2015 to May 2016: four further s
Slide 10: Great Time to Invest in Exploration
Great Time to Invest in Exploration > The industry is benefitting from a significant decrease in prices for drilling rigs and seismic vessels > Estimated well cost of <$30m, compared to +$80m two years ago > Significant activity in the West African Margin during last two years with positive results
Slide 11: Decreasing Risk
Prospects and Plays > Pure play deep-water exploration Côte d’Ivoire to Sierra Leone: > 2014-16: transformational exploration/appraisal in Senegal, Mauritania and Côte d’Ivoire > CPR inventory is diverse and material > Our large equity position provides room for partners to participate in the transf
Slide 12: Côte d'Ivoire – CI-509 and CI-513
Côte d’Ivoire – CI-509 and CI-513 Prospects: Cretaceous (post rift) Composite Amplitude CI-509 current phase Blue = shale expired; however, Yellow = sand MOU for new PSC under discussion with government 25 km > CI-513: 45% Ophir (Operator), 45% African Petroleum Prospects on trend with Saphir-1XB Di
Slide 13: Côte d'Ivoire – Ayame West Prospect (CI-513)
Côte d’Ivoire – Ayame West Prospect (CI-513) Ayame-1X well > Drilling exploration well targeting 352MMbbls in May 2017 location > Well-defined basin floor fan with excellent trap definition > 3D basin modelling shows proven source rocks are expected to be locally oil-mature > Reservoir interval pene
Slide 14: The Gambia and Senegal
The Gambia and Senegal Senegal ROP Senegal ROP and Gambia A1 & A4 current exploration phases have expired with Baobab extension/request to enter next phase under discussion with governments supported by 3rd party farm-in Heads of Terms in Senegal & The Gambia FAN-1 Discovery SNE-1 Discovery A1 Papri
Slide 15: The Gambia – A1 & A4
The Gambia – A1 & A4 FAN-1 Discovery SNE > 2,500km2 3D seismic acquired over licences Discovery > Material discoveries by Cairn Energy in Senegal on trend with African Petroleum acreage > Unrisked resource potential 3,079 MMbbls1 Looking at the Gambian 3D seismic volume from the North: Alhamdulilah
Slide 16: Sierra Leone – SL-03 & SL-4A-10
Sierra Leone – SL-03 & SL-4A-10 Prospects: Sierra Leone licences SL-03 & SL-4A-10 > 100% working interest in licences SL-03 & SL-4A-10 > Licences covered by high quality 3D seismic > Company portfolio comprises prospective and untested basin-floor fan play in ultra deep-water > Amplitude support for
Slide 17: Conclusion: Value Creation (Near & Long Term)
Conclusion: Value Creation (Near & Long Term) Assets Capabilities • Diverse portfolio in 4 countries with • Highly experienced management multiple prospects team • 7.4 bnbbls+ net unrisked prospective • Excellent relationships with host oil resources Governments • Assets significantly de-risked thro
Slide 18: Advisers & Contact Details
Advisers & Contact Details African Petroleum Corporation Ltd BROKERS 48 Dover Street Mirabaud Securities Limited (UK) London EAS Advisors LLC (New York) W1S 4FF Pareto Securities (Norway) T: +44 (0) 203 655 7810 AUDITORS F: +44 (0) 207 106 7762 BDO E: info@africanpetroleum.co.uk COMPETENT PERSON www
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