Meren Energy Inc. · TSX:MER
Meren Energy — Africa Oil — Merger or Acquisition (January 2024)
10 slides from Meren Energy's merger presentation, Jan 10, 2024
Slide 1: The Next Phase of Value Creation: Strategic Farmout of Impact's Namibian Interests
Africa Oil Corp. THE NEXT PHASE OF VALUE CREATION STRATEGIC FARMOUT OF IMPACT’S NAMIBIAN INTERESTS 10th January 2024 WWW.AFRICAOILCORP.COM
Slide 2: Speakers and Agenda
Impact Farmout Transaction | Management Presentation, January 2024 AFRICA OIL CORP. SPEAKERS AGENDA Dr Roger Tucker President & CEO • Strategic Benefits of the Transaction • The Opportunity Set and the Retained Upside • Principal Terms of the Transaction Pascal Nicodeme • AOC 2024 Priorities CFO • Q
Slide 3: Forward-Looking Statements
Impact Farmout Transaction | Management Presentation, January 2024 AFRICA OIL CORP. FORWARD-LOOKING STATEMENTS This document has been prepared and issued by and is the sole responsibility of Africa Oil Corp. (the Actual results may differ materially from those expressed or implied by such forward-lo
Slide 4: Delivering on Our Value Creation Strategy
Impact Farmout Transaction | Management Presentation, January 2024 AFRICA OIL CORP. DELIVERING ON OUR VALUE CREATION STRATEGY NIGERIA • Continuing our diligent work on the core assets Agbami, Akpo and Egina Oil Fields - Disciplined focus on Nigeria, Orange Basin and EG EQUATORIAL GUINEA Blocks EG-31
Slide 5: A Major Achievement in Line With Our Strategy
Impact Farmout Transaction | Management Presentation, January 2024 AFRICA OIL CORP. A MAJOR ACHIEVEMENT IN LINE WITH OUR STRATEGY Significant value enhancing farmout transaction with TotalEnergies for Blocks 2912 and 2913B with Impact retaining a 9.5% interest in each Block Impact’s remaining intere
Slide 6: A Highly Value and Growth Accretive Deal
Impact Farmout Transaction | Management Presentation, January 2024 AFRICA OIL CORP. A HIGHLY VALUE AND GROWTH ACCRETIVE DEAL ✓ Namibia position fully funded until first oil ✓ Retained exposure to significant E&A and development upside in Blocks 2912 and 2913B ✓ Full recovery in cash of historic expe
Slide 7: Namibia World-Class Opportunity Set With Significant Upside Potential
Impact Farmout Transaction | Management Presentation, January 2024 AFRICA OIL CORP. NAMIBIA WORLD-CLASS OPPORTUNITY SET WITH SIGNIFICANT UPSIDE POTENTIAL • Venus: major discovery, “At least 1-2 bn barrels1” operator confirmed future TotaleEnergies’ CEO on the scale of Venus development • Upcoming va
Slide 8: Principal Terms of the Transaction
Impact Farmout Transaction | Management Presentation, January 2024 AFRICA OIL CORP. PRINCIPAL TERMS OF THE TRANSACTION At completion Impact will retain a participating interest of 9.5% in both licenses with a transfer of: Interests • a 9.39% participating interest in Block 2912; and • a 10.5% partic
Slide 9: 2024 Strategic Priorities
Impact Farmout Transaction | Management Presentation, January 2024 AFRICA OIL CORP. 2024 STRATEGIC PRIORITIES • Consolidate, streamline and financially de-risk portfolio NIGERIA - Consolidation of core assets and streamlining the business - Farmout processes ongoing for Block 3B/4B, EG-31 and EG-18
Slide 10: Thank You
AFRICA OIL CORP. THANK YOU For further information, please contact: SHAHIN AMINI Investor Relations shahin.amini@africaoilcorp.com +44 (0) 20 8017 1511 WWW.AFRICAOILCORP.COM