Investor Update
Bemolanga Prospects
45°E
In 2008 Total E&P farmed in to a 60% share and became
operator. MOIL was paid US$100mm upfront and the
remainder as a carry on the next US$100 million of the JV
expenditures. During a shift to a conventional program in
2010, the carry was adjusted to US$80 million.
■ An Airborne Gravity Graviometry (AGG) survey of 8,400
line km was conducted in 2011 to determine presence of
potential deep oil and gas structures.
Two prospect areas are being examined in the south end
of the block.
Due to lack of seismic on the Block any new prospects
identified will require additional seismic acquisition. The
JV is in discussions with the government to determine how
to incorporate seismic acquisition into the exploration
programme.
The same Amboloando sand containing heavy oil deposit
in Tsimiroro extends into the southern portion of
Bemolanga and will potentially be proved up by the
Tsimiroro steam flood pilot.
Deep
Prospects
+
14 May 2012
MADAGASCAR OIL
Mine
Area
Investor Update
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