Slide 1: Corporate Presentation
Corporate Presentation February 2018 Contact us Kings Buildings, 16 Smith Square, London SW1P 3JJ Web: www.aminex-plc.com 1
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: Achievements to Date
Achievements to Date Recent Achievements • De-levered balance sheet with approximate net cash of $9MM with no debt • Introduced supportive cornerstone investor (ARA / Eclipse – Zubair ~30% holding) • Kiliwani North 1 well brought onstream for production • Successfully drilled and tested Ntorya 1 and
Slide 4: Corporate Summary
Corporate Summary • Main market listing on London and Irish Stock Exchanges: AEX • Approximately US$ 9MM (Cash and Cash Receivables) Financial • No Debt • Company supported by largest shareholder to grow (30% Eclipse – Zubair) • 2017 Production: 3600 MMcf (3.6 Bcf) Production • Average Netback price
Slide 5: 2017 Resource Tables Summary
2017 Resource Tables Summary Gas Contingent Resources Gas Reserves Gross Licence Basis Gross Licence Basis (2P) MMBOE Area 2C (6:1) Area Bcf MMBOE (6:1) Ntorya Development 81 13 pending Ntorya Development Kiliwani North 1.94 0.323 681 113 Unclarified Gross mean unrisked GIIP Interest % Ntorya Apprai
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Slide 7: Ntorya Appraisal Area: The Journey
Ntorya Appraisal Area: The Journey • Company committed to drill Ntorya-3 with forecasted spud 2H 2018 • Ntorya-3 to target possible increase of 2C resources and a potential production well for the early production system • Significant exploration upside remaining outside Ntorya over Ruvuma PSA • Gas
Slide 8: Ntorya Appraisal Area: The Journey
Ntorya Appraisal Area: The Journey Green bars represent estimated gross unrisked P10 GIIP 11x increase Ongoing technical work 8
Slide 9: Phased Development Concept
Phased Development Concept Early Production System (EPS) Indicative Full Field Development (FFD) Gross reservoir Gross reservoir complex isopach complex isopach * Pipeline to Madimba Gas Plant to be constructed • io oil & gas consulting (Baker Hughes, GE Company and McDermott joint venture) has prov
Slide 10: Ntorya Significant Remaining Exploration Upside
Ntorya Significant Remaining Exploration Upside Stratigraphic Column FIELD • Ntorya wells targeting Cretaceous slope channel system • Significant upside exploration exists in the fans 10
Slide 11: Ntorya-3 Pathway to Early Production System
Ntorya-3 Pathway to Early Production System History / Background • Ntorya-1 gas discovery (2012) proved onshore Cretaceous play in the Ruvuma basin. • Ntorya-2 appraisal well (2017) encountered 51m gross Cretaceous reservoir interval 74m up-dip from Ntorya -1 discovery. Proposed 2018 Work Programme
Slide 12: Seismic section with Proposed Ntorya-3 well
Seismic section with Proposed Ntorya-3 well A Ntorya-3 Ntorya-2 Ntorya-1 A’ Albian reservoir top Intra-Albian unc. Targeting thicker A gross reservoir system A’ Seismic Line through NT-3 – NT-2 – NT-1 4 km 12
Slide 13: Ntorya-3 – Geological Section
Ntorya-3 – Geological Section LEGEND R RESERVOIR s SOURCE SAND LIMESTONE SHALE Geological cross-section through the NT-1, NT-2 and proposed NT-3 showing the primary target, the Albian sands located within cretaceous aged deposits and a potential secondary target within Jurassic deposits 13
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Slide 15: Kiliwani North Summary
Kiliwani North Summary Gas Reserves Gross Licence Basis (2P) Area Bcf MMBOE (6:1) Kiliwani North 1.94 0.323 • Cumulative gas produced to date 6.4 Bcf • Remaining reserves to be produced with compression • Actively seeking suitable compressors • Kiliwani North offers low cost operations with high net
Slide 16: Kiliwani and Nyuni Upside New Mapping
Kiliwani and Nyuni Upside New Mapping RPS SSI Processing Plant Reservoir structure Songo Songo field Kiliwani North field shelf edge Mapped closures Structural closures identified with recent mapping • New lead identified in Kiliwani South • Kiliwani and shelf at Nyuni have significant upside • Exis
Slide 17: Near Term Development Objectives in Tanzania
Near Term Development Objectives in Tanzania Ruvuma • Finalise development licence over Ntorya with support from Tanzanian Government • Joint venture committed to drilling Ntorya-3 ( proposed spud H2-2018) • Proceed to first gas as quickly as possible • Ongoing technical work: • Basin is area of hig
Slide 18: Future Growth Strategy
Future Growth Strategy • Consider growth opportunities including M & A involving assets and companies which are production / development led • Leverage existing strong shareholder base to accelerate growth • Key criteria: • Existing or near term production • Look for development / appraisal led grow
Slide 19: Summary
Summary • Company has cash position of approximately $9MM (cash and cash receivables) at year end • Company is fully debt free • Significant resource base to develop • 763 Bcf (2C); 1.9 Tcf gross Pmean GIIP (Ntorya only) • Supportive shareholders to focus on growth • Actively seeking further growth