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West African
Oil Opportunities
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West African Acquisitions Forest Gate has acquired options for petroleum interests in two West Africa assets. The agreements are with Kilimanjaro Capital Ltd, a private Calgary-based company that acquires natural resource interests in emerging African nations. Southern Cameroons: • Acquired 20% interest in all on-shore and off-shore petroleum rights. • Kilimanjaro Capital is the signatory of an Assignment Agreement with the recognized Government of Southern Cameroons, which provides exclusive exploration and exploitation rights and covers an area of approximately 43,000 square kilometres, including the Northern and Southern provinces, the Bakassi Peninsula, and future off-shore rights. Republic of Cambinda (Angola): • Option to acquire a 49% interest in on-shore future petroleum licenses. • Kilimanjaro is the signatory of an Assignment Agreement with the Republic of Cabinda (Angola) regarding petroleum rights, which becomes effective upon international recognition of the government of the Republic of Cabinda. The Partners: • Kilimanjaro Capital’s principal, Zul Rashid, was born in Uganda and is well connected in Africa. • Michael Judson, President and CEO of Forest Gate Energy Inc. (TSX Venture Exchange: FGE), has joined the board of Kilimanjaro Capital Ltd.
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Petroleum Bearing Regions of West Africa
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Southern Cameroons
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Southern Cameroons Property • Forest Gate Energy has acquired a future contingency interest in 20 percent of all the petroleum rights in the former British colony of Southern Cameroons. • The territory is bounded to the west and north west by Nigeria, east by La Republique du Cameroun and south by the Atlantic Ocean. • The region is known to host on-shore and offshore petroleum reserves as well as gold, diamonds, uranium, iron, bauxite and manganese. • The Southern Cameroons is known to host significant petroleum reserves. Most of the known commercial oil reserves are located in the off-shore Rio Del Rey basin. • According to a Wood Mackenzie report of October 2011, Cameroon hosts liquid reserves of 0.21 billion barrels and has liquid production of 53,000 barrels per day.
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Physiographic & Industrial Activity Map of Southern Cameroons
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Southern Cameroons (pale green) Offshore Petroleum Leases
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Location of Rio Del Ray Basin & Related Oil Fields
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Southern Cameroons People/History • The population of Southern Cameroons is above five million inhabitants. • Southern Cameroons was the southern part of the British Mandate territory of Cameroons in West Africa. • Southern Cameroons, which is seeking to secede from the Republic of Cameroon, is the former United Nations Trust Territory of the British Southern Cameroons. The Government of the Southern Cameroons is a full member of the Organization of Emerging African States (OEAS) in Washington, DC, Unrepresented Nations and Peoples Organization (UNPO) in The Hague and claims effective control of the oil-rich Bakassi Peninsula • In 1961, Southern Cameroons attained independence and immediately united with the French Cameroons in a federal union. In 1972, Southern Cameroons was forcibly annexed. In 2009, an offer by the African Union to mediate was rejected by the Republic of Cameroon. • The current leader of the Southern Cameroons Government is Ebenezer Derek Mbongo Akwanga Jr., a former political prisoner who is backed by the UN Human Rights Council and the human rights, anti-torture organization, UK NGO Redress.
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Cabinda (Angola)
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Cabinda (Angola) Oil License Interests • Forest Gate has an option to acquire a 49% percent interest in the future petroleum licenses known as the Central Block, North Block and Southern Block in the Republic of Cabinda (Angola). • According to Kilimanjaro Capital Ltd. documents, these on-shore blocks abut highly productive offshore fields blocks known as Block 0 and Block 14 operated by Chevron's Cabinda Gulf Oil Company (CABGOC). • ROC Oil, Sydney, Australia, a former Sonangol licensee drilled a test well on the south block. (Sonangol is the Angolan Government oil & gas company). ROC Oil is no longer involved in Cabinda. • The Central and North Blocks are ready for development but security issues have held this back. The Cabinda area, in general, is largely unexplored for the same reason. • According to Sonangol, the Central Block is located onshore Congo Basin adjacent to the prolific offshore Block O. The area size of the block is 1425 square kilometres. The previous exploration effort in this region was in the early 1960s. Numerous leads are recognized in Pre-salt Aptian (Chela), Barremian, (Toca, Vovo) and Neocomian (Lucula) intervals.
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Approximate Location & Boundaries of Cabinda (Angola) Mineral Rights Licence
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Cabinda (Angola): Detail of Offshore Petroleum Reservoirs
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Cabinda (Angola): Stratigraghic position & Related Jurisdictions of Offshore Petroleum Resources
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Location of South (“CS”), Central (“CC”), North (“CN”) And Northeastern (in green) Blocks
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Cabinda Offshore Leases: Blocks 0 & 14
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Cabinda (Angola) History/Background • Cabinda is a former Portuguese Protectorate and was once known as the Portuguese Congo. • In 1975, Cabinda attained independence but the oil-rich territory was invaded by Angola and a 38-year struggle has ensued. Cabinda’s current government of Aphonse Massanga and Premier Joel Batila has focused on civil and political remedies. • In 2012, the African Union’s Banjul Commission took jurisdiction over the disputed claims to Cabinda’s largely dormant on-shore resources and has yet to issue a ruling.
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Moving Forward and Future Opportunities In West Africa • According to the Government of Southern Cameroons, oil exploration in the disputed Bakassi region could commence in a matter of months along with mineral exploration in other parts of the country. • Cabinda/Maiombe (Angola) is Forest Gate’s second deal with Kilimanjaro and in Africa, representing another building block in the company’s African-focused business plan. • In addition to the interests that Kilimanjaro Capital holds in Southern Cameroons and Cabinda/Maiombe (Angola), the company also holds future contingency interests in Biafra (Nigeria). • Forest Gate’s deals with Kilimanjaro Capital are but the first foray into the vast resource potential that is Africa. The company plans to pursue other deals in Africa on a non-operated basis, acquiring additional options on licenses in unrecognized areas and looking for operating partners to farm-in.
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Forest Gate Management Team Michael C. Judson | B.A., ICD.D | President and Chief Executive Officer • Over twenty years of experience forming, financing and operating private and public companies. He has raised approximately $185 million for natural resource exploration and production projects through two public company vehicles. • Between 2003 and 2005, grew the market capitalization of Forest Gate from $1.5 million to $50 million. • In 2004, formed wholly-owned subsidiary, Blue Note Mining, where, as chief executive officer raised approximately $150 million and successfully executed a work-over of a highly challenging lead-zinc mining operation. • Between 2004 and 2008, grew Blue Note’s market capitalization from $2 million to $250 million. • Graduated from the Institute of Corporate Directors (ICD) and the Desautels Faculty of Management, McGill University Directors Education Program in 2007 and became an Institute-certified Director (ICD.D) in 2011.
Scott St. John | Manager, Oil & Gas Operations - Calgary: • Former President at Spade Resources Ltd., Calgary. • Mesquite Exploration Ltd. (1996 - 2002). 2000 Boepd exit production. • Expedition Energy Inc. (2003 - 2007). 450 Boepd exit production. • 1993 – Present: Manna Operations Ltd.: Owner, Operations Consulting & Contract Operating/Management Consulting. • 2009 – 2010: Trafina Energy Ltd.: Operations Consulting
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Forest Gate Directors Michael C. Judson | B.A., ICD.D | Chairman • Over twenty years of experience forming, financing and operating private and public companies. He has raised approximately $185 million for natural resource exploration and production projects through two public company vehicles. • Between 2003 and 2005, grew the market capitalization of Forest Gate from $1.5 million to $50 million. • In 2004, formed wholly-owned subsidiary, Blue Note Mining, where, as chief executive officer raised approximately $150 million and successfully executed a work-over of a highly challenging lead-zinc mining operation. • Between 2004 and 2008, grew Blue Note’s market capitalization from $2 million to $250 million. • Graduated from the Institute of Corporate Directors (ICD) and the Desautels Faculty of Management, McGill University Directors Education Program in 2007 and became an Institute-certified Director (ICD.D) in 2011.
Nicholas Powell • Former institutional salesman with Barclays de Zoete Wedd, UBS, CIBC World Markets and Merrill Lynch. • Former director of Tri-Vision International and BV! Media.
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Forest Gate: Market & Corporate Information Exchange:
TSX Venture – FGE
Current Shares Outstanding:
83 Million (basic)
Market Capitalization:
1.3 Million (basic)
Shareholders:
3,500 +
Percentage held by Insiders:
18%
About Forest Gate Energy Inc. Forest Gate Energy Inc. is a publicly listed oil and gas exploration and production company trading on the TSX Venture Exchange under the symbol FGE.
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