Frontier Plays in Congo and Offshore Namibia Fall 2011 TSX-V: ENG - - PowerPoint PPT Presentation

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Frontier Plays in Congo and Offshore Namibia Fall 2011 TSX-V: ENG - - PowerPoint PPT Presentation

TSX-V: ENG | www.energulf.com Frontier Plays in Congo and Offshore Namibia Fall 2011 TSX-V: ENG Disclaimer Certain disclosure in this presentation, constitute forward-looking statements that are subject to numerous risks, uncertainties and


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Frontier Plays in Congo and Offshore Namibia

TSX-V: ENG | www.energulf.com Fall 2011

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Fall 2011

Disclaimer

Certain disclosure in this presentation, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to the Company’s operation as an oil and gas exploration company that may cause future results to differ materially from those expressed or implied by those forward-looking statements. Readers are cautioned not to place undue reliance on these statements as they involve known and unknown risks, uncertainties and other factors that may cause a hinge in assumptions and the actual outcomes and estimates may be materially different from the estimated or anticipated future results, achievements or positions expressed or implied by those forward-looking statements. The Company disclaims any intentions or

  • bligations to update or revise any forward-looking statements whether as a result of new

information, future events or otherwise. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this presentation. Furthermore, any resource estimate(s) contained in this document that have been prepared in-house by the Company (including any such references to resource estimate-potential) is not compliant with National Instrument 51-101 – Standards of Disclosure for Oil & Gas Activities. Such resource estimate(s) contained in this document is based on management’s interpretation of available data and the assumptions stated herein. Accordingly, such estimate(s) should not be relied upon. The reader is advised to obtain independent advice regarding the available data and the assumptions, and the

  • pinions, stated herein.
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TSX-V: ENG

  • Management and technical team have track record of

successful projects in West Africa

  • Lotshi Block – Democratic Republic of Congo (DRC )
  • Mean resource estimate: 313.2 Million BOE recoverable 1
  • P10 aggregate (high case): 428.6 Million BOE recoverable 1
  • 7 Prospects, 4 independent plays
  • EnerGulf Operator – 90% Working Interest
  • Block 1711 - Offshore Namibia
  • Giant* field(s) potential
  • 15 prospects, 3 independent plays
  • EnerGulf interim Operator- 15+% Working Interest

1 DeGolyer & Mac Naughton, March 2011

* AAPG definition: >500 million bbl.

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Fall 2011

EnerGulf: At a glance

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Directors, Advisors and Management

  • Jeffrey L. Greenblum: Director
  • Chairman of the Board, CEO Served as

senior official in President George H.W. Bush administration at the Department of Energy and Department of Commerce. Senior executive with Diamond Fields Resources, Inc (Sold to Inco for $4B). and KP Exploration (Kidder Peabody).

  • Clive Brookes: Director
  • CFO, B. Commerce from UBC. Served as a

Director, executive and financial consultant to companies listed on the TSX Venture Exchange. Founded and developed several start up companies in resource, service and medical sectors.

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Fall 2011

  • Tom Fetters: Director
  • Formerly Exxon, Exploration Planning

Manager, CEO Consolidated Natural Gas, President of Exploration Company of Louisiana

  • Joe Soliz: Director
  • J.D. degree from Harvard Law School and

has practiced U.S. and International Oil, Gas and Mineral Law since 1979

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Directors, Advisors and Management

  • Dr. Joe Davis: Exploration advisor.
  • Formerly, R&D at Arco, Sr. Advisor at Maxus Energy
  • VP Exploration at Strategic Petroleum and Hyperion Resources
  • Dr. James Edwards: Explorations advisor, Exploration and

Acquisitions.

  • Formerly Triton Oil, responsible for Cusiana field discovery, Colombia (2nd largest W.

Hemisphere)

  • Israel Hernandez: Senior Advisor for deepwater drilling, engineering,

and operations.

  • Deep Offshore drilling manager for Mobil, BHP, ARCO
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Fall 2011

Directors, Advisors and Management

  • Prof. Albert Ongendangenda: Director General – EnerGulf Congo

SARL - Kinshasa office

  • Former Energy Advisor to President of DRC
  • The Honorable Andimba Toivo Ya Toivo : Senior Advisor for

African Affairs

  • Former Minister of Mines and Energy, and Chairman of SWAPO (ruling party), Namibia.
  • Dr. Yves Neuville : Special Advisor to the Chairman and CEO
  • Past advisor to Minister of Budget and Finance, France. Professor at Sorbone
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Fall 2011

Technical Team Experience

  • Worked as a team for 20 years
  • West Africa Experience:
  • Billion barrel discovery (Zafiro) in

Equatorial Guinea

  • Development experience at Zafiro and Alba

(Equatorial Guinea)

  • Successful bid in Nigeria License Round
  • Development project in Ivory Coast
  • E&P projects in Angola, Cameron, Gabon,

Republic of South Africa

  • Additional Experience:
  • Siberia, Venezuela, Colombia, Indonesia,

Malaysia, Iraq

  • USA onshore and offshore Gulf of Mexico.
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Fall 2011

West Africa: Regional Setting

  • The rift that opened the

South Atlantic is the key to understanding hydrocarbon deposits in Brazil and West Africa.

  • 1711 Block was juxtaposed

to the Santos Basin in Brazil during the early rifting of the Atlantic Ocean.

  • 1711 Block and Lotshi

Block in DRC are not only

  • n-trend to producing

fields in West Africa, but are also conjugate to key rift basins in Brazil.

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Fall 2011

Regional Setting: Brazil- Africa Rift

Pre-Salt or Syn-Rift Time: Non-marine + salt deposition north of the Walvis Ridge. Post-Rift Time: Turbidite fan deposition.

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Regional Setting: Pre-Salt Play

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Regional Setting: Post-Rift Turbidite Play

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Pre-Salt and Tertiary Turbidite Plays

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Fall 2011

Democratic Republic of Congo

Lotshi Block

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Lotshi Block: Democratic Republic of Congo

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Fall 2011

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Lotshi Block: History

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Fall 2011

Location for 1st well

  • Forabola #1 drilled in 1973
  • PSA signed in 2005
  • Presidential decree in 2008
  • Airborne magnetics and

gravity survey in 2008

  • Boundary survey in 2009
  • 2D seismic survey in 2010
  • Prospective resource

report completed May 2011

  • Drill program preparation

underway

  • Plan to Spud Q2 2012
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Fall 2011

Lotshi Block – Prospect Portfolio

  • At least 7 prospects, 3 independent play ideas.
  • Lucula (target reservoir in all 7 prospects):

– Forabola well drilled in 1970’s defined the Lucula Formation as the best potential reservoir on the block – Lucula is stratigraphically equivalent to the reservoir at the giant M’Boundi field.

  • Bucomazi is also a primary target in one prospect

– Good reservoir properties in adjacent block to north

  • Fractured basement or “basement wash” is a primary

target in two of the prospects.

– Produced hydrocarbons in nearby Lindu well and in nearby Cabinda.

  • The Chela Dolomite is a secondary target in each prospect.

– produces from the giant Rabi-Kounga field in Gabon and smaller fields in Gabon.

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Lotshi Block: 1st Well

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Fall 2011

Loeme Salt Main Rift Fault Proposed TD of well, 2300 m Chela Dolomite Bucomazi Lucula

Primary target ~1200 ft of closure Secondary targets

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Mean Estimate – 313.2 million bbl over 7 prospects

(Prospective Resources per DeGolyer & MacNaughton Report 2011)

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Fall 2011

Lotshi Block: 7 Individual Prospects

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P10 Aggregate 428.6 Million bbl recoverable

(Prospective Resources per DeGolyer & MacNaughton Report 2011)

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Fall 2011

Lotshi Block: Prospective Resources

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Fall 2011

2012 Work Program

  • Dallas Prospect
  • 2300 M total depth
  • Other Prospects
  • 1500 m total depth
  • Approximately 30

days to drill each

  • Current pro forma
  • $8.5 million per well
  • Planned Spud date

Q2-Q3 2012

Satellite Thematic Mapped Image

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Fall 2011

Nambia

Block 1711

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  • Norther

thernmos nmost t offshor hore e Block ck in Namibia ibia

  • EnerGulf

rGulf - Interim rim Operat ator

  • r
  • 2.2 million

ion acre block ck

  • Two Major

r Plays, , multip iple le prospects cts

  • Namibe

ibe Basin – No explorat loration ion drill llin ing prior r to Kunen ene e #1

  • 15% Working

king Interest rest (possib ible le 19%)

  • Co

Co-Ventur enturers ers:

  • 51-55% W.I. available
  • NAKOR - 10% (carried)
  • PetroSA – 10% W.I.
  • Namcor – 7% (carried)
  • HRT – 2.7%
  • Kunene Energy - 0.3% (carried) (BEE)

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Fall 2011

Block 1711: Namibia

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  • First well in Namibe Basin
  • Work

rkin ing petroleu leum system proven en by hydroc drocarbon arbon shows in Kunene ene #1 well

  • Water

er Depth h – 772 772 m m

  • Spud – April

l 9, 2008

  • TD @ 5050 m, July 19, 2008
  • Testing

ing - Augus ust t 7-25, 2008 (EnerGu erGulf non-con consented ented)

  • Rig released

ased September ber 7, 2008

  • Well

ll Status -suspend ended ed

Deep Venture drilled the Kunene #1 Well

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Fall 2011

Block 1711: Kunene #1 Well

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Fall 2011

Block 1711: Kunene #1 Results

Upper Reservoir Target Middle Reservoir Target

Clastics, Volcanic and Carbonate Debris

Lower Reservoir Target

Synrift

  • Hydrocarbon shows

(C1-C5)

  • Working petroleum

system

  • Evidence of migration
  • Evidence of mature

source rock

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Fall 2011

2011 Work Program Results

  • 2010-11 work program

finished mid-July

  • Kunene #1 tied to seismic
  • Revised age

determinations

  • Revised lithology
  • Revised play concepts
  • Findings:
  • Hydrocarbon source potential in the Neo-Protezoic
  • Evidence of salt in Syn-Rift Section
  • Recognition of Tertiary contourite and turbidite facies
  • Recognition of variations in Basement tectonics from North to South
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Fall 2011

Block 1711: 3D Seismic Program

Existing 2D Proposed 3D Turbidite Prospect Syn-Rift Prospect Basement Prospect Gas Chimney

  • ~ 925 km2
  • Cost ~ $12 million
  • Target 2nd Quarter

2012

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  • Prospects and leads:
  • Multiple turbidite sand prospects, including 20,000 acre Hartmann

prospect

  • 7 prospects
  • Giant* Fields potential
  • Direct hydrocarbon indicators: Amplitude anomalies (bright spots), flat spots, frequency shadows. Gas

Chimneys

  • Similar geology to offshore Luanda, Angola and Deepwater Gulf of Mexico
  • Several syn-rift leads
  • 4 prospects
  • Giant* Fields potential
  • Similar geology to Pre-Salt in Campos Basin Brazil and M’Boundi, Upper Congo Basin
  • Several very large basement leads.
  • 4 Prospects
  • Giant* Fields potential

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Fall 2011

Block 1711 Prospect Portfolio

* AAPG definition > 500 million bbl

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Completed to date:

  • October 27, 2010: Seismic Operations Completed on Lotshi Block
  • September 9, 2010: ENG appointed interim operator Block 1711
  • April 5, 2011: ENG Commissions resource estimate for Lotshi Block and assembles drill team
  • May 11, 2011: ENG receives Lotshi Block prospective resources report
  • July 2011: 1711 work program completed: Revised age determinations, revised play concepts
  • September 2011: 1711 work program results presented to Ministry of Mines and Energy

Moving forward through 2012:

  • Lotshi Block drilling expected to commence Q2-Q3 2012
  • 3 Wells
  • Block 1711 work program expected to commence Q2 2012
  • Including 3D seismic
  • Discussions/ negotiations with potential JV partners

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Fall 2011

Projects progress through 2012

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Projects progress through 2012/2013

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Investment Highlights

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  • World class lead asset- Lotshi block
  • On trend with major Oil field
  • High potential for large resource- 90% owner and Operator
  • World class JV asset- Block 1711
  • Interim operator with minority stake
  • Located in an emerging Oil and Gas hot spot- Offshore Namibia
  • Early stage with exponential potential for growth
  • Experienced and diversified management and advisors
  • Excellent in-country relationships
  • Work Programs set for 2012
  • Will develop increased and consistent news flow
  • Excellent capital structure/ minimal dilution
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Share Structure

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Fall 2011

Issued and outstanding: 68,363,438 Warrants: 7,730,750 Options: 6,355,000 Fully diluted: 82,449,188

* As at August 2011

TSX-V: ENG FSE: EKS

Last Private Placement: 26/11/10

  • $3,224,200 @ $0.40 (8,060,500 units)
  • one purchase warrant for two

years @ $0.65 per unit