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2013 HALF-YEARLY RESULTSEarly South Lokichar Basin successSignificant early drilling success• 100% exploration success from first 3 wells in Blocks 13T/10BB• Successful testing of Ngamia-1 and Twiga South-1- Net oil pay estimates doubled- Cumulative flow potential of over 5,000 bopd per well• Successful application for Area of Interest (AOI)- Allows co-ordination of appraisal and exploration activities• Discovered resources well in excess of 300 mmboPlanned appraisal activities• Multiple appraisal wells planned through to end of 2014• 550sq km 3D seismic programme commencing in Q3 2013• Extended well testing to assist in proving of volumes andcharacterisation of reservoir quality and connectivityBasin development options under review• “Start up” production of up to 10,000 bopd- Review underway of crude export by road and/or rail• Early stage work for pipeline export underway in preparationfor commerciality being declaredSimilar basin volume potential as Uganda’s Lake AlbertSlide 18
2013 HALF-YEARLY RESULTSMoving closer to regional export pipelineUgandan appraisal underpins resources• Successful appraisal activity supports discoveredresources of 1.7bn• Further seismic, drilling and testing ongoing• Development studies progressing• MOU principles agreed, final details being progressedRegional pipeline• Ugandan & Kenyan Presidents agree joint export pipeline• Kenya nominated to lead pipeline project• Northern route provides greatest regional synergies• Concept work on pipeline and offshore loading complete• Pre-FEED activities expected to start imminentlySlide 19
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