Investor Presentaiton
Namibia PEL 37
Significant Resource Potential
• Four Cretaceous-age fans identified on 3D seismic
• Mature source rock proven by nearby HRT wells
1911/10-1
•
Further prospectivity defined to the south with 2D seismic
Asset Summary
AEC effective interest
14.6% (1)
Partners
Tullow (operator with 51.15%), Pancontinental
Namibia (43.85%), Paragon (5%)
Oranto.
Walvis Basin
Basin
First well
Spud date
Water depth
First well prospect size
Well cost
Cormorant-1
September 4, 2018
548 m
124 MMbbl (2)
Play type
~$28 MM
Submarine fan
~110 MMbbl at $60/bbl
(3)
Min. commercial field size
Work program to date
Seismic data
Past costs to date
1 well, 3,300 km² 3D and 1,000 km² 2D seismic
3D survey by Polarcus 2014
> $65 MM
(3)
(1) Africa Energy owns one-third of Pancontinental Namibia, which owns 43.85% of PEL 37. Tullow has elected to withdraw.
(2) Best Estimate Prospective Resources; obtained from third-party public disclosure and have not been subject to independent
audit by the Company.
(3) Company estimate.
Slide 24
1911/15-1
Eco Oil & Gas
Osprey Prospect
Du Preez
2012/13-1 O
Cormorant-1 Well
Azinam
Galp
3D
Seismic
2D Seismic
South
Atlantic
Ocean
Tullow
Eco Oil & Gas
AE
AFRICA
ENERGY
NAMIBIA
Toscanini -1
HRT Wells
2013
O 2213/06-1
Wingat -1
Murombe -1
Pan African Oil
Maurel & Prom
50km
AFRICA
ENERGY
PEL 37
17,295 km²
Africa Energy | March 2022View entire presentation