Investor Presentaiton
AE
AFRICA
ENERGY
Africa Energy block
Oil-mature kitchen
>> Lead
AJ Graben prospects
SOUTH
AFRICA
2D seismic 1992, 5km grid
Oil field
3D seismic 686km
Gas field
Northern Graben
440 km²
South Africa Block 2B
•
.
Proven Oil Basin
A-J1 oil discovery in 1988 flowed high-quality oil to surface (36° API)
⚫ High-impact exploration well planned up-dip from discovery
Analogous to Lokichar Basin (Kenya) and Albertine Graben (Uganda)
Asset Summary
AEC participating interest
Partners
Basin
First well
Planned spud date
Water depth
First well prospect size
Well cost estimate
Play type
Min. commercial field size
Work program to date
Seismic data
Past costs to date
27.5%
Eco Atlantic Oil & Gas (operator with 50%),(1)
Panoro Energy (12.5%), Crown Energy (10%)
Orange Basin
Gazania-1
October 2022
150 m
> 300 MMbbl (2)
~$25 MM
Rift basin
Cape
Town
Sungu Sunbird
Ibhubesi
gas field
< 50 MMbbl at $60/bbl (3)
3D seismic and seabed survey
686 km² 3D survey by Western Geco in 2013
$15 MM
Sasol/PetroSA
(1) Subject to completion.
(2) Best Estimate Prospective Resources; 200 MMbbl have been subject to resource assessment by qualified third-party
resource auditor.
(3) Company estimate.
Slide 16
A-D1
A-J Graben
350 km²
A-J1 Discovery 1988
36°API oil
Proposed Gazania
well location
BLOCK
2B
3,062 km²
SOUTH
AFRICA
Hondeklip Baai
0
30km
Africa Energy | March 2022View entire presentation