History and Future Strategy of Oando

Producing Assets: Qua Ibo Field (OML 13) Oando Acquired 2012 IBIBIO AKATA Working Interest Net 2P Reserves Producing Wells 40% UTAPATE SOUTH 3.5 MMboe EKIM AKAI UQUO STUBB CREEK 2 ETE SOUTH OPL 2008 Technical Services OER/ORPSL TOM SHOT BA QUA IBO Agreement OML 112 E. OKORO-SETU Overview Fiscal System Type of Contract Marginal Field Royalty Overiding Royal Tax Oil Profit Oil/Cash Flow Allocation 2.5%-18.5% based on production 2.5%-7.5% based on production 55% (Pioneer Status) 100% 17 15 HU

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