Slide 1: Corporate Presentation
Corporate Presentation October 2018 London Stock Exchange : AEX Irish Stock Exchange : AEX 1 www.aminex-plc.com
Slide 2: Disclaimer
Disclaimer Certain information contained herein constitutes forward-looking statements, which can be identified by the use of forward- looking terminology such as “anticipates”, “believes”, “estimates”, “expects”, “intends”, “may”, “plans”, “projects”, “should” or “will”, or, in each case, their neg
Slide 3: Summary
Summary A full cycle upstream company Existing pipeline: • Premium listed on London and Irish Stock Exchanges • Regional gas strategy underpinned by: • Strong gas demand growth and fixed pricing • Large cornerstone investor: Zubair Group • Large multi TCF resource base • 763 BCF* 2C (Gross) • 7.0+ T
Slide 4: Development focus
Development focus Ruvuma PSA: Existing pipeline: • 25 year Development Licence applied for over Ntorya area • 763 BCF 2C Resource within the Ntorya development area as per RPS 2018 CPR • Multi TCF exploration upside • Extension over Mtwara Licence area supported by TPDC and PURA pending approval by
Slide 5: Production focus
Production focus Kiliwani North Development Licence: Existing pipeline: • Licence expiry in 2036 with no further commitments • Company engaged in low cost re-entry of producing well to restart production • Offsetting large Songo Songo gas field • Existing gas sales agreement and gas plant with capac
Slide 6: Exploration focus
Exploration focus Nyuni Area PSA: Existing pipeline: • Company focussed on structural and stratigraphic targets in shallow water close to existing infrastructure • Numerous leads have been identified with greater than 4.8 TCF* (gross un-risked mean GIIP) • Potential to combine seismic programmes wit
Slide 7: Ruvuma
Ruvuma 7
Slide 8: Ruvuma: The Ntorya gas field
Ruvuma: The Ntorya gas field Ntorya-1 Cretaceous Discovery well: • Tested at 20 MMcf/d and 139 bbls condensate from a 3.5m sand on a 64/64 choke • Potential to re-enter well and perforate lower gas bearing zone Ntorya-2 Appraisal well: • Tested at a stabilised rate 17 MMcf/d from a restricted interv
Slide 9: Farm-out Details
Farm-out Details Key Terms Benefits to Aminex • All operational costs pertaining to Ruvuma • Effective Date of Agreement including personnel costs to be billed back into March 15, 2018 carry • Allows operations to continue unaffected • Cash of $5 MM paid in two tranches • Cash • Aminex carried throu
Slide 10: Farm-out Illustration: Success Case Example
Farm-out Illustration: Success Case Example Ntorya Development area current status Drilled 2017 Tested: 17 MMcf/d 51m Gross reservoir Drilled 2012 Tested: 20 MMcf/d 25m Gross reservoir Aminex to be paid $5 MM (additional to carry) in cash within 180 days of deal closure Farm-out Deal (Excl: $5 MM up
Slide 11: Carried: Drill and test Chikumbi-1
Carried: Drill and test Chikumbi-1 ARA Spend Remaining Aminex Carry $15,000,000 $30,000,000 * Based on management assumptions 11
Slide 12: Carried 3D Seismic defines/optimises development locations
Carried 3D Seismic defines/optimises development locations ARA Spend Remaining Aminex Carry $21,000,000 $28,000,000 * Based on management assumptions 12
Slide 13: Carried: Potential EPS
Carried: Potential EPS Option for the government to build connecting pipeline Early production revenues to Aminex TPDC build main pipeline JV builds main pipeline ARA Spend Remaining Aminex Carry ARA Spend Remaining Aminex Carry $24,000,000 $27,000,000 $46,500,000 $19,500,000 * Based on management a
Slide 14: Carried: Drill and test well #4
Carried: Drill and test well #4 TPDC build main pipeline JV builds main pipeline ARA Spend Remaining Aminex Carry ARA Spend Remaining Aminex Carry $36,450,000 $22,850,000 $58,950,000 $15,350,000 * Based on management assumptions 14
Slide 15: Carried: Drill and test well #5
Carried: Drill and test well #5 TPDC build main pipeline JV builds main pipeline ARA Spend Remaining Aminex Carry ARA Spend Remaining Aminex Carry $48,900,000 $18,700,000 $71,400,000 $11,200,000 * Based on management assumptions 15
Slide 16: Carried: Drill and test well #6
Carried: Drill and test well #6 TPDC build main pipeline JV builds main pipeline ARA Spend Remaining Aminex Carry ARA Spend Remaining Aminex Carry $61,350,000 $14,550,000 $83,840,000 $7,050,000 * Based on management assumptions 16
Slide 17: Carried: Drill and test well #7
Carried: Drill and test well #7 TPDC build main pipeline JV builds main pipeline ARA Spend Remaining Aminex Carry ARA Spend Remaining Aminex Carry $73,800,000 $10,400,000 $96,300,000 $2,900,000 * Based on management assumptions 17
Slide 18: Carried to Full field development with little to no risked capital
Carried to Full field development with little to no risked capital Up to $40 MM** Per annum net to Aminex generated * 140 MMcf/d based on 2017 io commercialization report (P50 Full field development) ** Based on management assumptions and Kiliwani North gas terms TPDC build main pipeline JV builds m
Slide 19: Kiliwani North and Nyuni
A aminex North and Nyuni iwani K
Slide 20: Kiliwani North
Kiliwani North • Production to date: 6.4 BCF • Revenue generated (gross) : $18.3 MM • Kiliwani South 57 BCF (mean un-risked GIIP) • Analogous to large Songo Songo gas field which produces NW corner of the island • Existing gas sales agreement in place • Licence terms to 2036 with no further commitme
Slide 21: Nyuni proposed programme
Nyuni proposed programme • Acquire Kiliwani and Nyuni 3D seismic over shallow water areas relatively close to existing infrastructure • 3D seismic is required to optimize extraction of remaining reserves in the Kiliwani North structure and to de-risk the Kiliwani South structure • Mapping has identi
Slide 22: Reservoir and completion schematic
Reservoir and completion schematic Perforate lower zone to potentially access additional gas 22
Slide 23: Kiliwani South Prospect
Kiliwani South Prospect Kiliwani North Development Licence Kiliwani North Development • New mapping has identified the Kiliwani South prospect Kiliwani North • 57 BCF GIIP (mean un-risked) • 3D seismic require to image Kiliwani North structure Kiliwani South Kiliwani • 3D seismic will high grade Kil
Slide 24: Conclusion
Conclusion • Aminex has a robust asset portfolio with abundant production, development and exploration opportunities • Aminex has a large multi TCF resource base • Aminex has the potential to be fully carried through to full field development with meaningful cashflow • Aminex is seeking opportunitie
Slide 25: Contact us
Contact us: London Aminex Petroleum Services Limited Kings Buildings 16 Smith Square London, UK SW1P 3JJ Tel: +44 (0)20 3198 8415 Email: info@aminex-plc.com Web: www.aminex-plc.com Click here for map Tanzania Ndovu Resources Ltd Plot No. 431, Mahando Street Msasani Peninsular PO Box 105589 Dar es Sa