Eco (atlantic) Oil & Gas Ltd. · TSXV:EOG
Eco (atlantic) Oil & Gas — Investor Presentation (September 2019)
20 slides from Eco (atlantic) Oil & Gas's investor presentation, September 2019
Slide 1: Guyana and Namibia: Building an Atlantic Margin Focused Company
Guyana and Namibia Building an Atlantic Margin Focused Company Corporate Presentation September 2019
Slide 2: Disclaimer
Disclaimer IMPORTANT NOTICE The information contained in this presentation (this "presentation") has been prepared by Eco (Atlantic) Oil & Gas Ltd ("the Company") as at the date of this presentation and is subject to updating, completion, revision, further verification and amendment without notice.
Slide 3: Portfolio Snapshot - Atlantic Margin Plays
Portfolio Snapshot - Atlantic Margin Plays Guyana and Namibia Highly prospective licences being developed in partnership with major oil companies limiting risk exposure Guyana – Offshore – Two Discoveries 2019 • Eco: 15% working interest in the 1,800km2 Orinduik Block. Partnered with Tullow Oil: 60%
Slide 4: Guyana: World class drilling success in a prolific basin
Guyana World class drilling success in a prolific basin Two significant oil discoveries de-risking the block’s substantial potential Jethro-1 Discovery ▪ Major oil discovery, 55m of net pay (98% net to gross) in excellent quality sandstone ▪ Results exceed partner pre-drill expectations / Eco pre-dr
Slide 5: Orinduik Block: Active Work Programme Demonstrating Scale
Orinduik Block Active Work Programme Demonstrating Scale • Jethro and Joe discoveries confirm prospectivity of upper and lower Tertiary fairways • ExxonMobil appraisal of Hammerhead discovery, drilled on the Orinduik boundary, demonstrates Hammerhead extends into Orinduik licence • Calibration of se
Slide 6: Orinduik Block: Jethro-1 De-Risks Tertiary Play
Orinduik Block Jethro-1 De-Risks Tertiary Play Jethro-1 Discovery • Major discovery, confirms geological model and seismic interpretation • Quality of reservoir means minimal appraisal required • Potential upside in adjacent Jethro channel • De-risks multiple other Lower Tertiary Prospects across bl
Slide 7: Orinduik Block: Joe-1 play-opening Upper Tertiary
Orinduik Block Joe-1 play-opening Upper Tertiary Joe-1 Discovery • Further discovery on Orinduik Block has First Upper Tertiary discovery offshore Guyana • Opening new play in Upper Tertiary and further qualifies seismic interpretation of block • Continuous thick sandstone reservoir, proves presence
Slide 8: Orinduik Block: Multi-billion Barrel Prospectivity
Orinduik Block Multi-billion Barrel Prospectivity • March 2019 Independent CPR indicates 597.3 mmboe net to Eco • Updated CPR incorporated Lower Tertiary volumes, increasing gross best estimate resource volume by one billion barrels of oil equivalent (P50) Gross Prospective Oil, Net1 Prospective Oil
Slide 9: World Class Basin Opening Discoveries: 6+ Billion Barrels Discovered
“World Class” Basin Opening Discoveries 6+ Billion Barrels Discovered in c.4 Years Orinduik Qatar Petroleum Orinduik Orinduik Orinduik Total Jethro-1 Joe-1 2D farm in Total’s Application Award 3D Survey farm in Discovery Discovery Completed stake in Orinduik Orinduik 3D Processing 2015 2016 2017 201
Slide 10: World Class Basin Opening Discoveries: Offshore Guyana
“World Class” Basin Opening Discoveries Offshore Guyana Eco Atlantic are fully funded for a further six high impact exploration/appraisal/development wells offshore Guyana in 2020 200 296 346 300 524 500 1,834 Units: MMBOE Liza Payara Snoek Turbot Ranger Pacora Longtail 1Hammerhead, Pluma and Jethro
Slide 11: Namibia
Namibia ▪ Highly Prospective Offshore Oil Province ▪ Favorable Fiscal Terms ▪ Politically Stable ▪ Established Partners ▪ Recent “Country Entry” by Majors ▪ Near Term Increasing Exploration Activity 11
Slide 12: Offshore Namibia Overview
Offshore Namibia Overview Highly active underexplored Oil and Gas region Proven Offshore Petroleum System 2013 HRT Wingat-1 Well Recent farm-in and new entrants: Exxon, Shell, Galp, Tullow, Total, Videsh, Kosmos Near term drilling activity planned 2019/20 Politically stable with favourable fiscal in
Slide 13: Namibia Block Highlights
Namibia Block Highlights Cooper Sharon Guy Tamar Block Size 5000 km2 5000 km2 5000 km2 7500 km2 Water Depth < 600 m < 500 m < 2500 m < 2500 m 5 Yrs + 2 Yrs (3rd 5 Yrs + 2 Yrs (3rd Opt.) + 5 Yrs + 2 Yrs (3rd Opt.) + 2 5 Yrs + 2 Yrs (3rd Opt.) + 2 Licence Optional) + 2 Yrs (3rd 2 Yrs (3rd Opt.) Yrs (3
Slide 14: Eco – Walvis Basin Licences
Eco – Walvis Basin Licences • Interest in four offshore blocks covering 22,500 km2 in the Walvis Basin, South West Africa • Four licences surrounding Exxon prospects • Hydrocarbon shows on the GALP, Tullow and Chariot licences • 2.36 Billion Bbls of P50 prospective resources (Net to Eco) o Cooper (4
Slide 15: Cooper Block Highlights
Cooper Block Highlights 1,100km2 3D Survey, drilling permits filed NI-I51-101 Compliant: Gustavson Assoc. 752 Million Barrels (BOE) of Oil (Gross Prospective - Best) resources on Cooper 57.5% Cooper PEL 30 WI: Eco (Operator): 57.5%; NAMCOR: 10%; Azinam Ltd; 32.5%. 15
Slide 16: Eco Atlantic
Eco Atlantic ▪ Highly Experienced Management ▪ Mature Board ▪ Industry Leading Partners ▪ First in Strategy ▪ Upcoming Drilling June 2019 ▪ Exploration Inventory ▪ Cashed Up 16
Slide 17: Strong Board and Management Team
Strong Board and Management Team Moshe Peterburg (Non-Executive Chairman) Keith C. Hill (Non-Executive Director) • Over 25 years of experience in Africa (Nigeria, Equatorial • Currently President and CEO of Africa Oil Corp., Director of Guinea, Ghana, Namibia and others) Africa Energy and formerly C
Slide 18: A Strategic Partner: Africa Oil Corp.
A Strategic Partner: Africa Oil Corp. (TSX: AOI) Africa Oil Corp. (AOC) recently invested CAD $14m in Eco Atlantic and is a ~19% shareholder of the Company. Currently with over $370m cash in hand, AOC has formed a Strategic Alliance with Eco Atlantic to seek new exploration opportunities together •
Slide 19: Eco's Approach
Eco’s Approach PROVEN STRATEGY GLOBAL PARTNERSHIPS DE-RISKED Identify early stage Significant partnerships with Operating in stable jurisdictions opportunities with upside major oil companies with excellent governments and potential local communities relations MANAGEMENT TEAM HIGHLY PROSPECTIVE UNIQ
Slide 20: Executive Contact Details
Executive Contact Details Gil Holzman Colin Kinley Alice Carroll Chief Executive Officer Chief Operating Officer Head of Marketing and IR Tel: +1 (416) 250 1955 Tel: +1 (913) 851 0433 Tel: +44 (0)781 729 5070 Email: gil@ecooilandgas.com Email: colin@ecooilandgas.com Email: alice@ecooilandgas.com Can
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