Investor Update slide image

Investor Update

Exploration Blocks History Highlights Ten wells were drilled on the blocks prior to Madagascar Oil involvement. Block 3105 - Manambolo numerous oil and gas shows in down-dip wells Block 3106 Morondava reservoirs expected in the Isalo Il sandstones and Bemaraha carbonates have been tested with out success gas and minor oil shows present in down dip wells within mapped reservoir intervals Block 3107 - Manandaza Lower Sakamena reservoir tested oil, however appears to be low permeability and porosity and size needs to be further assessed. MADAGASCAR OIL Exploration drilling history Year TD Well Name Drilled Operator (metres) Result PSC 3105 Manambolo Serinam-1 1971 Conoco 3,658 Heavy oil (100 API shows) Serinam East-1 1974 Chevron 2,970 Minor gas shows Manambolo -1 1985 Amoco 4,262 Heavy oil (10° API shows) Manambolo West-1 1987 OMNIS/P CIAC 2,600 15.6 mmscf/d DST Manambolo East-1 1990 Amoco 1,676 Minor gas shows Manambolo West-2 1993 OMNIS 1,890 No shows PCC 3106- Morondava Namakia-1 1984 Amoco 4,481 Live oil and trace gas Saronanala-1 1985 Amoco 2,385 No shows - PSC 3107 Manandaza Manandaza-1 1991 Shell 2,508 Non- commercial light oil (41° API) Manandaza South-1 1993 Shell 2,223 No shows 14 May 2012 Investor Update 36
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