Investor Update slide image

Investor Update

Tsimiroro Field Planned 2011 FTG Bemolanga 2010 survey MADAGASCAR OIL Full Tensor Gravity (FTG) - airborne gravimetric survey Tsimiroro FTG survey purpose: 1. Tie Tsimiroro interpretation into 2010 Bemolanga Survey. Block 3102 2. Provide detailed Tsimiroro tectonic analysis and include all wells, ERT and seismic. 3. Assist in interpretation of a thick (150 meters), oil filled, Isalo reservoir identified in south Tsimiroro field during 2010 drilling campaign. 1) Proposed Contingent 2011 FTG Survey (Blue area) Will proceed based on approval of the Bemolanga FTG program on 17 June 2011 : 3,500 km² coverage or 7,000 Line km. Estimated budget: $1.3 million. Proposed Contingent 2011 FTG Survey (Red area) Will only proceed if Exploration FTG program is also approved for Blocks 3105 and 3107: Additional 2,500 km² coverage or 5,000 Line km Additional budget: $900,000 Block 3104 2) Block 3105 Block 3107 17 June 2011 Investor Update 12
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