Investor Update
Key Assets
Madagascar Oil Limited (MOIL) has the largest onshore footprint in
Madagascar comprising five contiguous blocks covering 29,500 km².
Tsimiroro (100% MOIL)
heavy oil field with 1.7 billon barrels Contingent Original-Oil-in-Place
(3.9 billion barrels including prospective category)
Steam Flood Pilot anticipated to begin steam injection during Q3-2012
2011 Management analysis showed valuation for P50 NPV10 contingent
oil alone of US$6.7 billion
2011 AGG Survey being analysed for potential conventional plays
Bemolanga (Total E&P 60% / MOIL 40%)
initial efforts directed to a mining project with 1.2 billion barrels
Contingent Petroleum-Initially-In-Place
- project on hold pending more favorable economics and/or
technological advances
-
amended the PSC in 2011 to pursue conventional plays:
conducted an AGG Survey in 2011 which has led to interest
in basement features; seismic needed for further assessment
US$6.5 million gross carry by Total remains, which will fund the
Company's capital commitment through 2012
Exploration Blocks (100% MOIL)
Bemolanga
Block 3102
Tsimiroro
Block 3104
Manambolo
Block 3105
Morondava
Block 3106
- prior seismic programs and Gore surveys identified 3 to 5 prospects
24,000 line km AGG survey planned for Q2/Q3-2012 over the 3 blocks
expecting to pursue farm-out opportunities in late 2012
COMOROS
Mayotte
administered by FRANCE
claimed by COMOROS
Mozambique
MADAGASCAR OIL
Glorioso Islands
(FRANCE)
Antsiranana
50
Nosy Be
Maromokotro
Channel
Mahajanga
field
Bemolanga Field
(Bitumen) psy
Amparafaravola
inte
Marie
Tsimiroro Field
(Heavy Oil)
AN
NANARIV
*
Antanifotsy
Antsirabe
Manandaza
Block 3107
Fianarantsoa,
Manakara
INDIAN
OCEAN
Toliara
20-
Ambovombe
25-
Tólanaro
0
50 100 km
50
100 mi
50
14 May 2012
Investor Update
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