Africa Oil Corp. - Operations - World-Class East Africa Oil Exploration Play

World-Class East Africa Oil Exploration Play

The Company's assets in Kenya and Ethiopia are world-class oil exploration projects and contain significant resource potential.

Africa Oil holds operated and non-operated blocks in East Africa that contain under-explored plays in basins that have proven and productive analogues, or where the petroleum system is calibrated by existing well and seismic data. The current seismic and well database provides sufficient information to identify a large number of prospects and leads. Some of the prospects and leads have the potential to target multiple stacked plays. Other prospects and leads will test only single plays, but with the potential to test stacked-pay.

World-Class East Africa Oil Exploration Play

In Kenya, Block 9 and Block 10A are located in the Anza Graben. This is a Mesozoic basin related to similar Mesozoic basins of southern Sudan (Muglad Basin) where the petroleum system is proven and productive. The Muglad Basin is an analogue and provides calibration for the analysis of the prospectivity of these licenses. Block 10BB is located southeast of the Anza Graben Block 10A. The block is positioned within the eastern branch of the East African Rift analogous to recent discoveries made by Tullow Oil and Heritage Oil in Uganda within the western branch of the East African Rift.

Block 10BA is located in the northwestern part of Kenya within the Kenya Rift, which is part of the East African Rift System.The Block includes onshore areas to the east and west of Lake Turkana and offshore portions of the northern two thirds of Lake Turkana. Within the Block are several sub-basins and structural fault blocks that are considered part of the Kenya Rift. The Cretaceous age Anza Graben may extend west of Block 10A to underlie the Tertiary age rift system and could add deep exploration targets. Sub-basins include Lake Turkana North, Lake Turkana Central, Lodwar North and Kerio North.

In Ethiopia, the Ogaden Basin Area is within a proven hydrocarbon setting, however, to date no commercial production has been established. Oil, gas and condensate discoveries indicate that there is a complex petroleum system. The limited available data in this under explored area indicates that there is a wide range of potential petroleum type and volumes in this basin.

The Africa Oil blocks are all located onshore in the north of East Africa (Horn of Africa). All of the blocks are sparsely explored with only limited well and seismic data available to constrain the petroleum system and prospectivity. However, there is sufficient data on the blocks to demonstrate that multiple petroleum systems are developed within each block.

Block Summaries

Country	Blocks	Gross Acerage km²	WI
Kenya	Block 10BB	8,835	50%
	Block 10A	14,597	30%
	Block 10BA	21,088	50%
	Block 09	29,593	50%
	Block 12A	20,341	20%
	Block 13T	6,298	50%
Ethiopia	Block 7 & 8	23,162	30%
	Adigala	21,767	50%
	South Omo	22,088	30%
	Rift Basin Area	42,519	50%
Puntland, Somalia	Nugaal	21,784	27%⁽²⁾
	Dharoor	14,384	27%⁽²⁾

⁽²⁾ Represents AOC's Net working Interest subsequent to the formation of Horn Petroleum Corp. ("Horn"). AOC owns approximately 44.7% of Horn. This figure represents the Company's Net Working Interest in the production sharing agreements, net of the 55.3% minority interest in Horn.

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