NAMIBIA – CURRENT DEVELOPMENTS

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NAMIBIA CURRENT DEVELOPMENTS. Roger Swart NAMCOR (Pty) Ltd Oil Africa 2006 Cape Town 23 rd March 2006. Presentation outline. Kudu gas to power project Other current exploration players - Hunt Oil - BHP Billiton - Neptune Petroleum - Greendale Universal Holdings - PowerPoint PPT Presentation

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<ul><li><p>NAMIBIA CURRENT DEVELOPMENTSRoger SwartNAMCOR (Pty) Ltd</p><p>Oil Africa 2006Cape Town23rd March 2006</p></li><li><p>Presentation outlineKudu gas to power projectOther current exploration players- Hunt Oil- BHP Billiton- Neptune Petroleum- Greendale Universal Holdings- First African Oil Corporation/Circle Oil- INA Industrija Nafte- Block 1711Conclusion</p></li><li><p>Kudu licence area </p><p>Water depth 170mReservoir depth 4400mOn Orange BanksReservoir interbedded with volcanic rocksKudu Production Licence 001</p></li><li><p>Kudu gas field history</p><p>Discovery 1974 (Chevron/Regent/Soekor)Exploration License award: 6 May 1993 (Shell, EA, )Petroleum Field declared: 21 July 1997Production License awarded on 31 August 2005Tullow Oil (90%), Namcor (10%)2 wells planned for 2007Kudu</p></li><li><p>Kudu current concept</p></li><li><p>Construction challengesWeather swell offshore windsRemote locationDynamic surf zoneCoastal fog</p></li><li><p>SwellTypical conditions February-March 2006, the so-called weather window</p></li><li><p>WindsEffect - Onshore terminal and power plantSeasonal winterButSW is the dominant wind direction</p></li><li><p>Remote locationKuduWindhoek. 170 km to Oranjemund 800 km to Windhoek 800 km to Cape Town</p><p> Diamond coast</p></li><li><p>Dynamic surf zoneProblem for pipe laying</p></li><li><p>Coastal fogSatellite image of coastal fogCorrosion an issueHigh sulphur content</p></li><li><p>Licensed acreage at end of 2005</p></li><li><p>Hunt Oil CompanyLarge sized US IndependentConverted reconnaissance licence to exploration licence on 23 August 20054 year licence in Lderitz basinNamcor holds a 10% carried interest</p></li><li><p>BHP Billiton Awarded 2 exploration licences on 23 August 2005South of Kudu licence (Southern block) and block west of Kudu licence (Northern block)Parts of northern block overlapping with Kudu Production AreaFirst stratigraphic delineation of acreage in NamibiaProvides win-win solution3D seismic campaign underway</p></li><li><p>Neptune Petroleum</p><p>2 year exploration licence awarded 23 August 2005Currently interpreting seismic</p></li><li><p>Greendale Universal HoldingsReceived 2 exploration licences on 27 October 2005 (17 166 km)Blocks 1811 A&amp;B, 2714BSeismic interpretation phase</p></li><li><p>Circle OilFirst post-independence onshore licence (Owambo basin)Largest acreage ever (138 963 km)Full exploration license on 17 November 2005Namcor cosignatory with 10% stakeWell commitment</p></li><li><p>INA Industrija NafteCroatian NOCExploration license on 23 November 2005Second onshore licence to be awarded</p></li><li><p>Block 1711Block relinquished by VancoAcreage with highest potential so farReceived several applications for licenceFinalising negotiationsLocal BEE participation includedNamcor to take up stake</p></li><li><p>ConclusionKudu development imminentNamibia set to join petroleum producers clubOther exciting developments</p></li></ul>

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