Africa Energy Corp. · TSXV:AFE
Africa Energy — Africa Oil Week 2018 Prospect Forum
17 slides from Africa Energy's conference presentation, Nov 7, 2018
Slide 1: South Africa Block 2B
A LUNDIN GROUP COMPANY SOUTH AFRICA BLOCK 2B 2018 AFRICA OIL WEEK PROSPECT FORUM
Slide 2: Attractive Location / Fiscal Terms
SOUTH AFRICA - BLOCK 2B ATTRACTIVE LOCATION / FISCAL TERMS Active Players Fiscal Terms State Take < 30% Royalty: 0.5-5% Income Tax: 28% Tax benefit from cost uplift After Tax Profit Tax Deductible Costs: Including cost uplift, 200% of exploration and appraisal, 150% of capex and 100% of opex State a
Slide 3: Proven Oil Basin
SOUTH AFRICA - BLOCK 2B PROVEN OIL BASIN A-J1 oil discovery from 1988 flowed high-quality oil to surface (36°API) Analogous to Lokichar Basin (Kenya) and Albertine Graben (Uganda) Near-term low-risk exploration well planned up-dip (~$19 MM) Best Estimate Prospective Resources of over 600 MMbbl for A
Slide 4: A-J Graben Contingent & Prospective Resources
SOUTH AFRICA - BLOCK 2B A-J GRABEN 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 Conti
Slide 5: Petroleum System Overview
SOUTH AFRICA - BLOCK 2B PETROLEUM SYSTEM OVERVIEW The A-J Basin is part of a set of syn-rift half-graben, formed during the initial A-J Graben Gondwana breakup (±126Ma). It is one of several such rifts along the Inner Graben Block 2B Trend, where conditions for the development of oil-prone lacustrin
Slide 6: A-J Graben Dip Line - Source Rock Model and Migration
SOUTH AFRICA - BLOCK 2B A-J GRABEN DIP LINE - SOURCE ROCK MODEL AND MIGRATION A-J1 E W Namaqualand Prospect Top of Oil Window, Gazania Prospect 3 km, 80°C 1 A-J1 SR interval 2900-3400m (500m) 140m net SR material with TOC up to 2 5.5%. Type I. Early mature. Oil sourced from a more mature, deeper sou
Slide 7: A-J Graben Axial Delta Play - Reservoir and Trap
SOUTH AFRICA - BLOCK 2B A-J GRABEN AXIAL DELTA PLAY - RESERVOIR AND TRAP A-J1 N Oil Discovery S Hard Sub-crop trap Sub-crop trap Ultimate up-dip trap: Fault trap Sands abut against impermeable basement Fault trap Soft Axial Input 3000m 3300m 56m net residual oil 23m net live oil 3700m 127m net reser
Slide 8: A-J Graben Axial Delta Play - Reservoir and Trap
SOUTH AFRICA - BLOCK 2B A-J GRABEN AXIAL DELTA PLAY - RESERVOIR AND TRAP N S A-J1 Soekor Proposed Well 1988 Oil Discovery Gazania-1 Post-rift Sediments Namaqualand 1900m Oil trapped in fluvio-deltaic sandstones Interbedded with silt and shale Gazania 2200m Syn-rift sediments 2700m Basement 127m net
Slide 9: Reservoir Quality from Seismic Inversion
SOUTH AFRICA - BLOCK 2B RESERVOIR QUALITY FROM SEISMIC INVERSION Colour key A A’ Porosity from seismic inversion 0% 10% 20% 30% A Lacustrine Interval A’ 2 km 9
Slide 10: Axial Delta Prospects
SOUTH AFRICA - BLOCK 2B AXIAL DELTA PROSPECTS N S Namaqualand 230m Common amplitude shutoff and AVO Pelargonium Gazania 1 km 10
Slide 11: PSTM Gathers at Namaqualand (Red = Soft)
SOUTH AFRICA - BLOCK 2B PSTM GATHERS AT NAMAQUALAND (RED = SOFT) Class II/III AVO anomaly 11
Slide 12: Other Prospects in the A-J Graben
SOUTH AFRICA - BLOCK 2B OTHER PROSPECTS IN THE A-J GRABEN 45km² anomaly with weak amplitude conformance to structure. Combination trap – rollover and sub-crop Notch along master fault is a likely sediment input point. W OXALIS E N OXALIS S 12
Slide 13: Northern Graben
SOUTH AFRICA - BLOCK 2B NORTHERN GRABEN NORTHERN GRABEN - 90KM COMPOSITE 2D AND 3D SEISMIC LINE FROM NORTHERN GRABEN INTO THE A-J GRABEN N Northern Graben (1988 2D Line) A-J Graben (2013 3D Line) S Top of Oil Window using A-J1 gradient N Oil-Mature Kitchens 20 km² + 80 km² Oil-Mature Kitchen 100 km²
Slide 14: Proposed Gazania Well Design
SOUTH AFRICA - BLOCK 2B PROPOSED GAZANIA WELL DESIGN Cost estimate - ~$19MM 14
Slide 15: Proven Oil Basin
SOUTH AFRICA - BLOCK 2B PROVEN OIL BASIN A-J1 oil discovery from 1988 flowed high-quality oil to surface (36°API) Analogous to Lokichar Basin (Kenya) and Albertine Graben (Uganda) Near-term low-risk exploration well planned up-dip (~$19 MM) Best Estimate Prospective Resources of over 600 MMbbl for A
Slide 16: Cautionary Statements
CAUTIONARY STATEMENTS This presentation has been prepared and issued by and is the sole responsibility of Africa Energy Corp. (the "Company") and its subsidiaries. It comprises the written materials for a presentation to investors and/or industry professionals concerning the Company's business activ
Slide 17: Contact Details
CONTACT DETAILS Investor Relations - Canada Investor Relations - Sweden Sophia Shane Robert Eriksson Email: info@africaenergycorp.com Email: reriksson@rive6.ch Tel: +1 (604) 689-7842 Tel: +46 701 11 26 15 Creating Value Through Oil Exploration in Africa www.africaenergycorp.com