ORANTO PET. LTD.
Atlas Petroleum and Oranto Petroleum Portfolio Summary
August 2012
ORANTO PET. LTD.
ORANTO and ATLAS WEST AFRICA PORTFOLIO
ORANTO PET. LTD.
SENEGAL
Cayar Offshore Oranto 90% (Operator) , Petrosen 10% Awarded 2008, Area 3618 km2 Activities: Shot 1000 km2 3D Processing of 3D data underway Page 2
ONSHORE GAMBIA
ORANTO PET. LTD.
Onshore Gambia Oranto 100% (Operator) awarded 2010 Activities: Accessing all available data and undertaking geological and geophysical studies in preparation for 2D seismic acquisition.
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SIERRA LEONE BLOCK SL‐5
ORANTO PET. LTD.
Block SL‐5 Awarded 2003 Area : 4022 km2 Dispute regarding boundaries resolved in Oranto’s favour and extension granted.
Oranto (Admin Operator) 30%, Lukoil ( Tech. Operator) 49%, VANCO 21% Activities: Shot 2650 km2 3D, processed through detailed AVO analysis Well planning underway Page 4
LIBERIA BLOCKS LB‐11, LB‐12 & LB‐14
ORANTO PET. LTD.
BLOCKS LB‐11 & LB‐12 Awarded to Oranto 2004 & 2005 Chevron (Op) 70%, Oranto 30% Areas : 3295 km2 each Activities: Shot 3000 km2 3D, two phases of processing through AVO analysis completed. Planning two well campaign
BLOCK LB‐14 Area: 3121 km2 , awarded 2009 to Oranto Oranto 30%, Chevron (Operator) 70% Activities: Interpreted 2D data, Shot 1515 km2 3D, processed incl. AVO analysis Page 5
COTE D’IVOIRE BLOCKS 205 & 206
Block 206 Oranto 100%, 2001 Area 1768 km2 Activities: Purchased ~600km 2D, Shot ~1200 km2 3D, Shot 608km2 3D, processed through detailed AVO analysis.
ORANTO PET. LTD.
Block 205 Oranto 27%, Lukoil (Operator) 63%, Petroci 10%, 2001 Area 2597 km2 Activities: Purchased ~600km 2D, Shot ~1200 km2 3D, Shot 608km2 3D, processed through detailed AVO analysis, Drilled 5240m well – oil. Well 2 planned Page 6
GHANA SALTPOND ANNULUS
ORANTO PET. LTD.
Oranto 87.5% (Op.), Stone Energy Ghana 2.5%, GNPC 10% (CI with further 10% option) Awarded 2008 Area 1542 km2 Activities: Shot 250 km2 transition zone 3D and 750 km2 3D, processed, AVO analysis and interpretation completed. Well positioning study completed. Page 7
BENIN Blocks 5,6 & 8: Nigeria Block 320
ORANTO PET. LTD.
Benin: Blocks 5, 6 and 8 Nigeria: Block 320
Nb. Togo Block now relinquished
NIGERIA BLOCKS OPL 293 & OPL 320
ORANTO PET. LTD.
Block OPL 293 Deepwater block awarded 4 May 2007 PSC under review Block OPL 320 Oranto 65%, Orandi 35%, 2002 Area 1789km2 7 years (1st Phase, incl 2 year ext) + 3 years (2nd Phase) Activity: 1st commitment well Echim‐1 spudded 23‐Oct‐07 in 6,556’of water. well TD: 16,486’ MD; rig released 16‐Dec‐07. Planning 2nd commitment well for the 2nd Phase of the PSC. Comment: Kosmos was the technical operator but has withdrawn. Page 9
SAO TOME Block 3
ORANTO PET. LTD.
Block 3 Oranto 100% (Operator) Area: 4228 km2 Awarded: 2011 Initial Exploration Period 4 years Two Renewal Periods each of 2 years Current Activity : Geological and geophysical study ongoing Page 10
NAMIBIA
ORANTO BLOCK LOCATIONS NAMIBIA
ORANTO PET. LTD.
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NAMIBIA
Block 2010B Production Sharing Contract Area 5781 km2 Oranto 87%, Namcor 10%, Ozondje 3% Initial Exploration Period 4 years Two Renewal Periods each of 2 years Current Activity – geological and geophysical study
ORANTO PET. LTD.
Licences 2011B and 2111A Oranto 90% Namcor 10% Areas Approximately 5700km2 each (tot. 11429km2) Current Activity : 1500 km2 3D acquisition in process Reconnaissance Licence Blocks 1909 and 2009 Oranto 100% Approx 15,000 km2 ‐ Preemptive right to convert to Exploration License Current Activity : geological and geophysical study Page 12
ORANTO ASSET PORTFOLIO
ORANTO PET. LTD.
ORANTO and ATLAS WEST AFRICA PORTFOLIO
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ATLAS PETROLEUM INT. LTD.
ATLAS PETROLEUM INTERNATIONAL LIMITED ASSET PORTFOLIO SUMMARY
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ATLAS ASSET PORTFOLIO SUMMARY
ATLAS PETROLEUM INT. LTD.
NIGERIA OML 109 (JED Exploration Area): Licensees: Atlas Pet. Int. Ltd. (operator) 70% Summit Oil & Gas Worldwide Ltd. 30% Area: 200,000 acres (excluding Ejulebe Field) Award date: 1996 (conversion from OPL‐75) Duration: 20 years (1st Phase) Work completed: 325 km2 3D seismic, 1996 Activity: West Awodi‐1 (5o27’58.4”N 4o56’36.2”E) spudded (Lloyd Noble jack‐up) 1‐10‐09 and reached TD of 10,860’ (9,799’ TVD) on 26‐Oct‐09. Took kick from overpressured gas/cond sand at TD. West Awodi‐ 1ST kicked off 5‐Nov‐09 and reached TD of 6810’ (6258’ TVD)1600’ step‐out to SSW on 8‐Nov‐09. The well was P&A as a probable overpressured gas/cond discovery. Page 15
ATLAS ASSET PORTFOLIO SUMMARY
ATLAS PETROLEUM INT. LTD.
NIGERIA Ejulebe Oilfield Area: (OML 109 NE) Licensees: Atlas Pet. Int. Ltd. (Operator) 70% Summit Oil & Gas Worldwide Ltd. 30% Tetra Pet. Oilfield Services Ltd. (Service Contractor) Area: 15,000 acres First Production: Sept 1998 Work completed: 3 development wells (producing) 3 exploration wells (dry) Current activity: Initial Production rate: 10,000 bopd Currently 2 wells are producing. A step‐out satellite well spudded in July‐11 and has encountered a deeper pool of oil beneath the EJ‐2 area. Page 16
ATLAS ASSET PORTFOLIO SUMMARY
ATLAS PETROLEUM INT. LTD.
EQUATORIAL GUINEA BLOCK H Licensees: Atlas Pet. Int. Ltd. (Admin. Op.) 25% White Rose Energy Ventures (EG) Ltd. (Tech. Operator) 48.75% ROC Oil Company Ltd. 20% Osborne Resources Ltd* 6.25%
Area: 991 km2 Award date: 3‐Feb‐2000 Work completed: 1,385 km2 3D seismic (2001) Bravo‐1, P&A 20‐Jun‐04. WD 1509m, TD 3222m. Current activity: Drilling of Aleta‐1 now planned for Sep 2012. *Wholly owned subsidiary of PA Resources AB Equatorial Guinea
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ATLAS ASSET PORTFOLIO SUMMARY
ATLAS PETROLEUM INT. LTD.
EQUATORIAL GUINEA BLOCK J Licensees: Atlas Pet. Int. Ltd. (Operator) 100% Area: 1,305 km2 Award date: 3‐Feb‐2000 Duration: Extended to Dec 2013 Work completed: ‐ Geol. & Geoph. Study and and 1,084 km 2D seismic ‐ 800 km2 of 3D seismic acquisition and multiple phases of processing through AVO and seismic inversion. ‐ Seeking partners to participate in drilling exploration
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ATLAS ASSET PORTFOLIO SUMMARY
EQUATORIAL GUINEA BLOCK I Licensees:
ATLAS PETROLEUM INT. LTD.
Atlas Pet. Int. Ltd. (Admin. Operator) 29% Noble Energy EG Ltd. (Technical operator) 40% Glencore Exploration (EG) Ltd. 25% Osborne Resources Ltd. 6%
Area: 806 km2 Award date: 2000 Work completed: 1,049 km 2D seismic acquisition 857 km2 of 3D acq., processing and interpretation incl AVO studies 6 wells drilled (4 exploration + 2 appraisal). 2 oil/gas/cond discoveries (Aseng & Diega) 2 gas/cond discoveries (Yolanda, Belinda). Aseng (previously known as Benita) Oilfield onstream Nov 2011 Current Prod ~70,000 bopd Page 19
ATLAS ASSET PORTFOLIO SUMMARY
ATLAS PETROLEUM INT. LTD.
BLOCK I
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ATLAS ASSET PORTFOLIO SUMMARY
ATLAS PETROLEUM INT. LTD.
EQUATORIAL GUINEA BLOCK P Licensees: GePetrol (paying) Operator 38.4% Petronas Carigali Equatorial Guinea Ltd. 31% Atlas Pet. Int. Ltd. 5.6% (10% outside PDA) DNO ASA 5% GEPetrol –20% (90% outside PDA)
Area: 1,333 km2, Award date: 2003 Work completed: GEPetrol 3D seismic purchased and interpreted 2003 AVO completed 2004 4 Wells + 1 Sidetrack well drilled. Venus oilfield defined as Development Area Development Area expanded Plan of Development for Venus Field submitted to ministry Exploration will continue in and outside Development Area Page 21
ORANTO PET. LTD.
ORANTO WEST AFRICA PORTFOLIO NET ACREAGE 2011
2012
ORANTO
ORANTO
ORANTO’S 2012 NET ACREAGE COMPARED WITH WOOD MACKENSIE’S 2011 COMPILATION OF COMPANIES WITH WEST AFRICA INTERESTS Page 22