Investor Update
Area Overview
The Madagascar Oil Limited (MOIL) group concessions cover five
contiguous onshore blocks in Madagascar comprising 29,500 km².
Tsimiroro
- A heavy oil field, currently with 965 million barrels Contingent
Original- Oil-in-Place.
- 2008 cyclic steam test successfully produced up to 150 bopd per
well and over 2,000 bbls total of 13° API oil from 3 wells.
-
The 2010 CPR showed valuation for P50 NPV10 Contingent oil of
US$1.1 billion at $70 Brent (source: NSAI CPR.)
Bemolanga
- The potential mining project has demonstrated 470 million
barrels Contingent Petroleum-initially-in-Place gross MOIL share.
The mining project economics are low and the project has been
postponed for the time being. The PSC requirement for a $100
million bitumen extraction pilot project has been cancelled.
-
- The work plan has now shifted to deeper light oil or gas plays,
pursuant to the PSC revisions accepted by the government.
-
-
-
A $10 million carry by Total remains, which will fund the
Madagascar Oil share until at least mid-2012.
Exploration Blocks
2009 seismic program identified nine prospect leads.
2010 Gore survey demonstrated potential on 3 to 5 of the leads.
Tsimiroro
Block 3104
Manambolo
COMOROS
Mayotte
administered by FRANCE
claimed by COMOROS
Mozambique
Channel
MADAGASCAR OIL
Glorioso Islands
(FRANCE)
Antsiranana
50
Nosy Be
Maromokotro
Mahajanga
Bemolanga
Block 3102
By
field
Bemolanga Field
(Bitumen) psy
Amparafaravola
inte
Marie
Tsimiroro Field
(Heavy Oil)
AN
NANARIV
*
Antanifotsy
Antsirabe
Manandaza
Block 3107
Fianarantsoa,
Manakara
INDIAN
OCEAN
Block 3105
Morondava
Block 3106
Toliara
20-
Ambovombe
25-
Tólanaro
17 June 2011
Investor Update
0
50 100 km
50
100 mi
50
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