AGM PRESENTATION 22nd MAY 2013
Exploration Opportunities in Tanzania:
Why Aminex believes in the potential of the Nyuni and Ruvuma PSAs
Presentation to shareholders, Aminex PLC AGM, Dublin, Ireland, 22nd May 2013
o Aminex has been in Tanzania since 2002
when the East African Coastal Margin was
only a lightly explored backwater.
o Aminex has drilled 6 wells including 2
commercial discoveries, one of which is
developed and ready to produce.
o The Company’s acreage includes (1)
onshore, (2) shallow water offshore and
(3) deep water offshore environments.
o Since 2010 there have been multiple
world-class deep water gas discoveries in
the region, some directly offsetting both of
Aminex’s PSA areas.
o Aminex has consistently believed in the
vast potential of the East Africa Coastal
Margin which is summarised in this short
technical presentation. Recent published hydrocarbon discoveries,
Tanzania and northern Mozambique
Introduction
Presentation to shareholders, Aminex PLC AGM, Dublin, Ireland, 22nd May 2013
Onshore, Nearshore Successes
o Mafia Basin/Rufiji Delta, Tanzania:
• Songo Songo (1974)
• Mukuranga (2006)
• Kiliwani North (2008)
o Ruvuma Basin, Tanzania and northern
Mozambique:
• Mnazi Bay (1982)
• Ntorya-1 (2011)
o Sample analyses made available to
Aminex provide information on the
potential for oil as well as for gas.
Introduction
Mafia/Rufiji
Basin
Ruvuma
Basin
Presentation to shareholders, Aminex PLC AGM, Dublin, Ireland, 22nd May 2013
o The deepwater exploration success along the East African Coastal Margin
demonstrates the exploration potential that may exist onshore and on the nearshore
shelf.
o High quality (3D) seismic in the open marine deepwater environment is the main cause
for recent success.
o Recent improvements in 2D seismic acquisition and processing on the marine shelf and
onshore confirms the presence of similar traps and their significant but as yet
unexplored and unexploited potential.
Regional Geological Setting and Prospectivity
Presentation to shareholders, Aminex PLC AGM, Dublin, Ireland, 22nd May 2013
o Ntorya, along with most leads within the Ruvuma PSA, and post-Neocomian leads within
Nyuni PSA are part of the same play fairway as the recent deepwater discoveries.
o Historically structural prospects have been drilled along the coastal margin with only limited
success. With the aid of improved seismic, Aminex is focusing on the significant
stratigraphic potential that can now be imaged and which has proven so successful in the
deepwater.
Anadarko, BG & Statoil’s
deepwater gas
discoveries,
60-103 Tcf.
ENI’s deepwater gas
discoveries,
27-75 Tcf.
Ntorya onshore gas
discovery, 1.2 Tcf
discovered and
undiscovered
Mnazi Bay Gas Field,
~830 Bcf Pmean
recoverable
contingent
Late Tertiary uplift
in response to
East African Rift
Kiliwani North gas field,
45 BcfPmean GIIP
discovered
Regional Geological Setting and Prospectivity
Presentation to shareholders, Aminex PLC AGM, Dublin, Ireland, 22nd May 2013
Regional Geological Setting and Prospectivity
o Ntorya, along with most leads within the Ruvuma PSA, and post-Neocomian leads within
Nyuni PSA are part of the same play fairway as the recent deepwater discoveries.
Presentation to shareholders, Aminex PLC AGM, Dublin, Ireland, 22nd May 2013
o Virtually all recent major gas discoveries
have been in the (deepwater) offshore,
where most of the recent 2D and 3D
seismic has been acquired.
o This is because of the ease of access in
open marine deepwater environments for
acquiring high quality seismic with minimal
logistic difficulties, and sufficient quality to
de-risk prospects prior to drilling.
o Nearshore and onshore is subject to more
complex and costly logistics for alternative
methods of appropriate seismic
acquisition.
Exploration Progress
Presentation to shareholders, Aminex PLC AGM, Dublin, Ireland, 22nd May 2013
Exploration Progress
o Most of the Nyuni legacy data (all 2D) has
a limited “maximum offset” of <1,500m.
o The 2005 dataset has a 3,000m maximum
offset. Careful reprocessing allows a
major improvement in imaging, to better
de-risk prospects prior to drilling.
o Deepwater/open marine 2D and 3D
seismic commonly has a maximum offset
of 8,000m.
Presentation to shareholders, Aminex PLC AGM, Dublin, Ireland, 22nd May 2013
o Advanced processing and imaging
technologies applied to state-of-the-art 2D
and 3D seismic in an unrestricted
deepwater marine environment enables
much greater confidence in de-risking
prospects pre-drill.
o However, similar acquisition and
processing methods cannot be employed
in the onshore and nearshore
environments.
o Recent work by Aminex on 2D seismic
onshore and on the marine shelf is
beginning to image detail with confidence
but most such prospects remain untested
by drilling.
Seismic profile across Block 1, offshore
Tanzania, showing intraslope channel plays
(from Ophir Energy AGM, June 2012).
SSE NNW
Exploration Progress and Prospectivity
o Most recent discoveries on- and offshore are primarily stratigraphic and not structural.
o Early wells were drilled with limited seismic on simple structural features. Such prospects
include Songo Songo, Mnazi Bay, Latham Island, Nyuni, etc.
Presentation to shareholders, Aminex PLC AGM, Dublin, Ireland, 22nd May 2013
o Songo Songo-1 in 1974 promoted
structural plays and the potential for
productive Neocomian-age reservoir
sands.
o Albian sands as at Ntorya of good
reservoir quality are stratigraphically
controlled - their presence in structural
traps is highly variable.
o Previously, stratigraphic complexity has
been hard to image and interpret with
confidence on seismic in the absence of
well data.
Seismic cross-section across Songo Songo
gas field, offshore Tanzania; (structural trap).
Seismic cross-section across Ntorya gas
discovery, Ruvuma basin, onshore Tanzania;
(stratigraphic trap).
Exploration Progress and Prospectivity
Presentation to shareholders, Aminex PLC AGM, Dublin, Ireland, 22nd May 2013
2D Seismic Dip Line 89MT-10, onshore Northern
Ruvuma Basin.
o Previous onshore exploration was focused on
identifying large structural closures and
seismic coverage was coarse.
o Limited contractor availability and high costs
did not encourage higher data densities.
o Little stratigraphic potential could be
recognised or de-risked sufficiently to justify
drilling.
Upper Cretaceous Lead D as
mapped by Texaco, 1992, cf Sudi
Lead 2012.
(Areal closure of Lead D at Top Cretaceous
was estimated at approx. 170.4km2, with
800ft of vertical closure (Texaco 1992).
Remapped as Sudi Lead by Aminex in
2012.)
Exploration Progress and Prospectivity
Presentation to shareholders, Aminex PLC AGM, Dublin, Ireland, 22nd May 2013
o The Kiswa and Sudi Base Tertiary channel
complex leads in the Ruvuma PSA are now
clearly imaged on reprocessed data.
o They appear analogous to BG/Ophir’s
Jodari Base Tertiary gas discovery (GIIP
estimated at ~4.5 Tcf), 25 km to the West in
the deepwater.
o Kiswa Lead appears to have a similar multi-
channel complex appearance as Jodari.
Source : Ophir website, Capital Markets presentation, 2012
Kiswa Leads, Offshore Ruvuma PSA
Exploration Progress and Prospectivity
Presentation to shareholders, Aminex PLC AGM, Dublin, Ireland, 22nd May 2013
o The Sudi Lead (onshore
Ruvuma) is part of the
same Base Tertiary
channel complex as the
offshore Kiswa Lead.
(Onshore)
(Offshore)
Exploration Progress and Prospectivity
Presentation to shareholders, Aminex PLC AGM, Dublin, Ireland, 22nd May 2013
Exploration Prospectivity
o Since the success of Aminex’s
Ntorya-1 gas discovery, mapping of
the Ruvuma PSA has identified
further stratigraphic leads not
previously recognised with
confidence from available 2D
seismic.
o Aminex is planning new 2D seismic
in the Ruvuma PSA to better define
and de-risk the stratigraphic
potential, as well as to appraise the
Ntorya-1 discovery.
Ruvuma PSA: Lead map of mainly
stratigraphic leads, identified from seismic
post-Ntorya-1 well.
Presentation to shareholders, Aminex PLC AGM, Dublin, Ireland, 22nd May 2013
Exploration Prospectivity
o Tanzania has signed a $1.2 billion finance
package with the Chinese Export Bank for
gas infrastructure which will include:
• 450 km 36” pipeline from Ruvuma
Basin to Dar es Salaam.
• 25 km 24” pipeline from Songo Songo
Island to main pipeline.
• New gas processing plants on Songo
Songo Island, and near Mtwara –
approx. 30 km from Ntorya-1.
o This pipeline will provide access to market
for both Aminex’s Kiliwani North gas Field
and Aminex’s Ntorya-1 gas discovery
o Pipeline project due onstream end 2014.
Tanzanian Coastal Pipeline
Presentation to shareholders, Aminex PLC AGM, Dublin, Ireland, 22nd May 2013
o The deepwater acreage in the Nyuni PSA is of potentially significant exploration
interest and 3D seismic is planned for this year.
o New appraisal seismic at Ntorya (Ruvuma) will provide well control and identify
locations for appraisal drilling on the path to commercialisation.
o Ruvuma is a vast licence which contains a number of large leads in addition to the
Ntorya discovery.
o Further seismic at Ruvuma will de-risk these leads to convert them to drillable
prospects.
o With a major new pipeline project under way and strong demand for natural gas,
Ntorya and discoveries at Ruvuma will be important components of Tanzania’s
short to medium term energy needs.
o Aminex’s intention is to unlock the prospectivity of the Nyuni and
Ruvuma PSAs.
Summary
Presentation to shareholders, Aminex PLC AGM, Dublin, Ireland, 22nd May 2013
Ntorya-1, Ruvuma PSA, flowing 139 bpd condensate and 20MMcfd on test through a 1” choke, June 2012.