Eco (atlantic) Oil & Gas Ltd. · TSXV:EOG

Eco (atlantic) Oil & Gas — Investor Presentation (April 2013)

38 slides from Eco (atlantic) Oil & Gas's investor presentation, April 2013

  1. Slide 1: Corporate Presentation

    April 2013 Corporate Presentation 18 Billion Barrels of Prospective Resources Significant Upside Potential 1

  2. Slide 2: Forward Looking Statements

    Forward Looking Statements This presentation contains certain statements that may be deemed “forward-looking statements”. All statements in this presentation, other than statements of historical fact, that address events or developments that Eco (Atlantic) Oil & Gas Ltd. (“Eco Atlantic”) expects to

  3. Slide 3: Eco Atlantic Investment Profile

    Eco Atlantic Investment Profile Emerging Oil and Gas Company  Second largest acreage holding onshore and offshore Namibia  Dual listed on the TSXV and NSX (Namibian Stock Exchange) under "EOG“ Excellent Growth Potential  Three offshore licenses covering over 25,000km2 (6,177,000 acres) located in

  4. Slide 4: The Team: Africa & Oil Exploration Experience

    The Team: Africa & Oil Exploration Experience Moshe Peterburg (Chairman, Co-Founder):  Over 25 years of experience in Africa (Nigeria, Equatorial Guinea, Ghana, Namibia and others).  Founder and Chairman of GP Minerals, a resource investment and development company. Gil Holzman (President & CEO, D

  5. Slide 5: Namibia Economic Profile

    Namibia Economic Profile  GDP: US$16.77 billion (2012)  Annual Growth: approx 4.5% (2012)  Population: 2.32 million (2012 estimate)  Inflation: 6.5% (2012 average)  Major trading partners: South Africa, Angola, UK, Spain, Japan, China and USA  Taxation of oil production: 5% State Royalty / 35%

  6. Slide 6: Gondwana Theory, Paleoceanographics

    Gondwana Theory, Paleoceanographics Brazil ~ Namibia Relationship Mirrored Geological Structures Angola Eco Atlantic Targets Walvis Basin Brazil Espirito Santo Basin Namibia Campos Basin Santos Basin 30 Bbbls BOE Estimated Offshore Brazil Over 80 Bbbls BOE Recent Discoveries in South Atlantic Ocean

  7. Slide 7: Offshore Licenses

    Offshore Licenses Namibe Basin Repsol/Tower/ Arcadia Repsol Farm in 44% WI Westbridge Energy ~ 22,400 km2 exploration license, partner search Pan Africa Oil Walvis Basin 1,750 km2 of seismic completed Eco Atlantic Oil & Gas 18 Billion Barrels of Prospective Oil HRT /GALP 4 Wells planned 2013, first

  8. Slide 8: Walvis Basin Potential

    Walvis Basin Potential The Oil Kitchen Eco Atlantic  18 Bbbl Prospective Resources on three blocks offshore  3D seismic program commence 2013 Repsol/Tower/ Arcadia NAMIBIA  Repsol farm-in 44% working interest HRT  3.68 Bbbl Prospective Resources on 2 targets in Walvis Basin Serica Energy/BP  BP

  9. Slide 9: Two Drilling Prospects – Walvis Basin

    Two Drilling Prospects – Walvis Basin • HRT Spudded Wingat prospect 25th March 2013 • First of two wells planned in Walvis Target 1: Wingat – 775 MMbbl (HRT 86% GALP 14%) DHC: $78 million COS: 27% Target 2: Murombe – 2.9 Bbbl (HRT 86% GALP 14%) DHC: $92 million  Oil seeps confirm similar geological

  10. Slide 10: Fugro Slick Report

    Fugro Slick Report All Slicks 18°0°0"S4 20°0'0"s-+ Slick Categor Estimate of probability that Estimate of probability that StickGategory category is as stated category is seepage @ _cxtegory 1 Seepage Rank 100% 100% (Dette s20ps) @ Category 2 Seepage Rank 2 50-90% 80% (Probable seeps) So, @ Category

  11. Slide 11: Slick Research

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  12. Slide 12: Exploration Milestones

    Exploration Milestones  License granted 21st March 2011  Acquisition of over 2,000 km of legacy 2D lines from TGS, Western Geco  Alignment and joint analysis of PGS’ 2D seismic lines together with Azinam (Approx additional 4000 km)  Three independent NI 51-101 reports on offshore blocks by Gusta

  13. Slide 13: Targets

    Targets 13

  14. Slide 14: Eco Atlantic Geo Profile

    Eco Atlantic Geo Profile • Palaeocene / Neogene shales • Tight deepwater carbonates Seal • Mobile salt pockets / volcanics (?) • Cretaceous intraformational shales • Palaeocene-Miocene channel systems Reservoir • Albian–Maastrichtian turbidite fans • Albian carbonate interval (?) • Barremian-Albian

  15. Slide 15: Regional Drilled Wells

    Regional Drilled Wells Well 2313/5-1: Shark Prospect drilled for Kudu type target. Section was sand and no seal was encountered. This was first penetration of the syn-rift and proved that syn-rift is clastic. It was not drilled to the Aptian Well 1911/15-1: Drilled on a faulted block on Skeleton Coa

  16. Slide 16: Source Rocks

    Source Rocks Cenomanian Aptian Albian Source Rocks Source Rocks 16

  17. Slide 17: Reservoir

    Reservoir Maastrichtian – Turbidite Lower Cretaceous – Shallow Fans: Can be identified on Carbonates: Have been Berremian Sands: Initial the existing seismic recorded on the outer rift highs rifting led to the coverage and have been a of the Walvis Basin. Potential development of syn-rift key reserv

  18. Slide 18: Lower Tertiary Channel Systems

    Lower Tertiary Channel Systems Sediment most likely input directions into the Walvis Basin are from North and East: Kaoko, Otavi and Etendeka Sediments. Luderitz is probably sourced from the Eastern Kalahari and South Eastern Gariep. Damara Belt rocks straddle the two basins and may have contributed

  19. Slide 19: Seals

    Cretaceous Seals Seals Corporate Seal Cenozoic Seals 19

  20. Slide 20: Traps

    Traps Stratigraphic Traps: Structural Traps: Tilted Turbidite Fan Systems, Fault, Anticlines, Prograding Clinoforms, Horsts and Slumps Low stand Sand Wedges, Channel Systems 20

  21. Slide 21: Guy Technical Highlights

    Guy Technical Highlights P50 (Best) Probabilistic Estimate:  Eco – Operator and 70% working interest 9.2 Billion Barrels of Prospective  Conventional oil targets Resources  Water Depth: 2,000 to 3,500 m range  Depth: 3,500 to 5,100 m to top of structures  Seven significant resource leads within

  22. Slide 22: Sharon Technical Highlights

    Sharon Technical Highlights P50 (Best) Probabilistic Estimate:  Eco – Operator and 70% working interest 7.79 Billion Barrels of Prospective  Conventional oil targets in the Walvis Basin Resources  Shallow water over targets: 150 m range  Shallow resource targets : 2,600 m range  Two significant

  23. Slide 23: Cooper Technical Highlights

    Cooper Technical Highlights  Eco – Operator and 70% working interest P50 (Best) Probabilistic Estimate:  Conventional oil targets 1.15 Billion Barrels of Prospective  Shallow water over targets: 400 m range Resources  Shallow resource targets : 2,000 m range  Five significant resource leads wit

  24. Slide 24: Increasing Activity Offshore

    Increasing Activity Offshore NAMIBIA OFFSHORE Announcement Date Transaction License Westbridge Energy farms into Feb 6, 2013 WEB entered into LOI with Ropat Petroleum 1911A, 1912B, 1910A & Namib and Walvis Basin majority interest, operator and 75% WI 2011A GALP farms into HRT Blocks Nov 26, 2012 GAL

  25. Slide 25: Market Performance Comparables

    Market Performance Comparables  All peers underperform due to market conditions  Eco maintains strong position among competitors Conservative spending, cashed up, tightly held, only 69M shares outstanding Opened at $0.60 November 29, 2011 25

  26. Slide 26: Peer Comparables – Eco Atlantic Opportunity

    Peer Comparables – Eco Atlantic Opportunity Company Ticker Market Cap Enterprise Unrisked Net EV/Unrisked Notes $CAD (MM) Value ($MM) Resources Resources (MMbl) ($/bbl) Chariot Oil & Gas Drilling 2013 CHAR.AIM 64.34 0.0 10,639 $0.00 Eco Atlantic 3D seismic 2013/ Leads EOG.V 35.86 29.36 12,702** $0.0

  27. Slide 27: Company Milestones

     3D Survey Company Milestones  Farmout August 2012 Guy 2D Nov 2012  Drilling Acquired add’l Private Placement 615 Klms of 2D Raised $3.23M @ July 2012 $0.40/unit Operational Highlights Slick Data April 2012 Acquired oil Slick NSX Listing Data Package NSX:EOG May 2012 Guy, NI 51-101 June 2012 Best

  28. Slide 28: Corporate Snapshot

    Corporate Snapshot Analyst Coverage Price Cormark Eco (Atlantic) Oil & Gas Ltd. Securities $2.00 Trading symbol: EOG Clarus Securities $3.00 Trading Platform: Toronto Stock Exchange (V) Namibian Stock Exchange M Partners $3.50 Share Structure Shareholders Shares Issued and Outstanding 68,959,661 Man

  29. Slide 29: Why Eco Atlantic

    Why Eco Atlantic  18 Billion barrels of prospective oil resource offshore Namibia in the prolific Walvis Basin “Oil Kitchen”  Low cost entry into region with significant upside potential, undervalued in comparison to peers  Experienced management team with expertise in Africa, Oil & Gas industry

  30. Slide 30: Contact Information

    Contact Information Eco (Atlantic) Oil & Gas Ltd. Corporate Office: Corporate Contact: Canada Gil Holzman 120 Adelaide Street West, Suite 1204 Chief Executive Officer Toronto, Ontario gil@ecooilandgas.com M5H 1T1 Julia Maxwell Namibia Office: Manager, Investor Relations jmaxwell@ecooliandgas.com 269

  31. Slide 31: Appendices

    Appendices 31

  32. Slide 32: Farm – In Partners

    Farm – In Partners Azimuth Ltd. – 20% Working Interest / 40% carry  A well-funded company with the technical capabilities of a mid cap E&P firm.  Backed by majority-owner Seacrest Capital Ltd, a Bermuda based energy investment group  Petroleum Geo-Services ASA (PGS), access to world’s largest mul

  33. Slide 33: Namibia Basins Onshore & Offshore

    Namibia Basins Onshore & Offshore 33

  34. Slide 34: Cooper License Block 2012A

    Cooper License Block 2012A Offshore Block Size: 5,000 km2 (acres: 1,235,000) Access: Floater License: 70% working interest, 4 yrs + 2 renewal terms of 2 years Partners: Azimuth Ltd. 20% WI, NAMCOR 10% WI Water: 200 m to 500 m Target: Basal Tertiary Clastics and Turbidites (2,000m - 2,300 m), upper C

  35. Slide 35: Sharon License Blocks 2213A & 2213B

    Sharon License Blocks 2213A & 2213B Offshore Block size: 10,000 km2 (Acres: 2,471,000) Access: Jack-up License: 70% Working Interest, 4 yrs + 2 renewal terms of 2 years Partners: Azimuth Ltd. 20% WI, NAMCOR 10%WI Water: 0 m to 200 m Target: Basal Tertiary Clastics and Turbidites (1,800 m - 2,000 m),

  36. Slide 36: Guy License Blocks 2111B & 2211A

    Guy License Blocks 2111B & 2211A Offshore Block Size: 10,000 km2 (Acres: 2,471,000) Access: Semi/floater License: 70% working interest, 4 yrs + 2 renewal terms of 2 years Partners: Azimuth Ltd. 20% WI, NAMCOR 10%WI Water: 2,000 m depth (east side targeted) Target: Basal Tertiary Clastics and Turbidi

  37. Slide 37: Block 2013B, 2014B, 2114 & 2418

    Block 2013B, 2014B, 2114 & 2418 Onshore Block Size: 30,000 km2 (Acres: 7,413,000) Access: Truck mounted mobile drilling rig License: 90% Working Interest, Eight years Partner: NAMCOR, 10% Target: Karoo Coal and Shale Sequence (estimated 800 m depth 60 m thick) CBM and tight shale Commitment: Year 2+

  38. Slide 38: Local Namibian Participation

    Local Namibian Participation  Eco Atlantic acquired Namibia local company, Eco Oil & Gas Namibia ltd., holding license applications, for consideration of 20% of Eco Atlantic Oil & Gas  Only Namibian petroleum company to list on Namibian Stock Exchange  Helmut Angula, ex Deputy Minister of Mines a

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