Exploration & Gas Monetization in East Africa

Rovuma Basin Map

Rovuma Onshore Concession

License Surface Area Ownership % Participating % Paying through
Exploration
Rovuma Onshore 13,500km2 Wentworth Resources 11.59 13.64
    Anadarko* 35.70 42.00
    Maurel et Prom 27.71 32.60
    ENH 15.00 n/a
    PTTEP 10.00 11.76
*Denotes operator
  1. Primarily onshore, north-eastern Mozambique bordering the Rovuma River to the north and extending east into the Indian Ocean
  2. Concession area west of and adjacent to Anadarko's Offshore Area 1 concession (estimated gas resources of 100Tcf)
  3. Exploration History - 2 wells drilled to date:
    • Mocimboa-1: Oil and gas shows in Cretaceous age turbidites
    • Mecupa-1: Tertiary gas shows
    • Extensive 2D seismic including 1,016km acquired in 2012/13
  4. 7 drillable prospects identified:
    • 4.7 Tcf gross Pmean prospective resources*
    • Geological chances of success from 14%-22%*
  5. Partners have agreed to drill at least 2 exploration wells in 2014
  6. Rig secured and drilling program to start Q2 2014
  7. Rig contract allows for an optional 3rd well
  8. Tembo-1 prospect to be drilled first
    • Potential for oil in the Cretaceous
    • 277 MMstb gross Pmean prospective resource (oil case)*
    • OIP -1,205 MMstb gross Pmean*
    • 1.5 Tcf gross Pmean prospective resource (gas case)*
    • GIIP 2.4 Tcf gross Pmean*
  9. Other well location(s) to be agreed in Q4 2013

*Source: RPS Energy Canada Ltd. resource assessment as at August 31, 2013

Prospective Resources

Prospective Resources (Unrisked) Rovuma Onshore, Mozambique (Bcf and MMstb)
  100% Field Values Wentworth's 11.59% Interest
  P90 P50 Mean P10 P90 P50 Mean P10
Gas Originally in Place - gas case 4,757 7,167 7,771 11,561 551 831 901 1,340
Recoverable Resources - gas case 2,849 4,347 4,745 7,121 330 504 550 825
Gas Originally in Place - oil case 3,667 5,123 5,329 7,198 425 594 618 834
Oil in Place - oil case 107 756 1,205 2,808 12 88 140 325
Recoverable Gas Resources - oil case 2,194 3,100 3,234 4,428 254 359 375 513
Recoverable Oil resources - oil case
25 192 277 780 3 22 32 90