Congo and Offshore Namibia Frontier Plays in Fall 2011 TSX-V: ENG - PDF document

TSX-V: ENG | www.energulf.com Congo and Offshore Namibia Frontier Plays in Fall 2011

TSX-V: ENG Disclaimer Certain disclosure in this presentation constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to the Company’s operation as an oil and gas exploration company that may cause future results to differ materially from those expressed or implied by those forward-looking statements. Readers are cautioned not to place undue reliance on these statements as they involve known and unknown risks, uncertainties and other factors that may cause a hinge in assumptions and the actual outcomes and estimates may be materially different from the estimated or anticipated future results, achievements or positions expressed or implied by those forward-looking statements. The Company disclaims any intentions or obligations to update or revise any forward-looking statements whether as a result of new information, future events or otherwise. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this presentation. Furthermore, any resource estimate(s) contained in this document that have been prepared in- house by the Company (including any such references to resource estimate-potential) is not compliant with National Instrument 51-101 – Standards of Disclosure for Oil & Gas Activities. Such resource estimate(s) contained in this document is based on management’s interpretation of available data and the assumptions stated herein. Accordingly, such estimate(s) should not be relied upon. The reader is advised to obtain independent advice regarding the available data and the assumptions, and the opinions, stated herein. www.energulf.com Fall 2011 2

TSX-V: ENG EnerGulf: At a glance • Management and technical team have track record of successful projects in West Africa • Lotshi Block – Democratic Republic of Congo (DRC ) • Mean resource estimate: 313.2 Million BOE recoverable 1 P10 aggregate (high case): 428.6 Million BOE recoverable 1 • • 7 Prospects, 4 independent plays • EnerGulf Operator – 90% Working Interest • Block 1711 - Offshore Namibia • Giant* field(s) potential • 15 prospects, 3 independent plays • EnerGulf interim Operator- 15+% Working Interest 1 DeGolyer & Mac Naughton, March 2011 * AAPG definition: >500 million bbl. www.energulf.com Fall 2011 3

TSX-V: ENG Directors, Advisors and Management • Tom Fetters: Director Jeffrey L. Greenblum: Director • • Formerly Exxon, Exploration Planning Manager, • Chairman of the Board, CEO Served as senior CEO Consolidated Natural Gas, President of official in President George H.W. Bush administration at the Department of Energy and Exploration Company of Louisiana Department of Commerce. Senior executive with Diamond Fields Resources, Inc (Sold to Inco for $4B). and KP Exploration (Kidder Peabody). • Clive Brookes: Director • Joe Soliz: Director CFO , B. Commerce from UBC. Served as a • • J.D. degree from Harvard Law School and has Director, executive and financial consultant to practiced U.S. and International Oil, Gas and Mineral companies listed on the TSX Venture Exchange. Law since 1979 Founded and developed several start up companies in resource, service and medical sectors. www.energulf.com Fall 2011 4

TSX-V: ENG Directors, Advisors and Management • Dr. Joe Davis : Exploration advisor. • Formerly, R&D at Arco, Sr. Advisor at Maxus Energy • VP Exploration at Strategic Petroleum and Hyperion Resources Dr. James Edwards : Explorations advisor, Exploration and Acquisitions. • Formerly Triton Oil, responsible for Cusiana field discovery, Colombia (2 nd largest W. Hemisphere) • • Israel Hernandez : Senior Advisor for deepwater drilling, engineering, and operations. • Deep Offshore drilling manager for Mobil, BHP, ARCO www.energulf.com Fall 2011 5

TSX-V: ENG Directors, Advisors and Management • Prof. Albert Ongendangenda : Director General – EnerGulf Congo SARL - Kinshasa office • Former Energy Advisor to President of DRC • The Honorable Andimba Toivo Ya Toivo : Senior Advisor for African Affairs • Former Minister of Mines and Energy, and Chairman of SWAPO (ruling party), Namibia. • Dr. Yves Neuville : Special Advisor to the Chairman and CEO • Past advisor to Minister of Budget and Finance, France. Professor at Sorbonne www.energulf.com Fall 2011 6

TSX-V: ENG Technical Team Experience • Worked as a team for 20 years • West Africa Experience: • Billion barrel discovery (Zafiro) in Equatorial Guinea • Development experience at Zafiro and Alba (Equatorial Guinea) • Successful bid in Nigeria License Round • Development project in Ivory Coast • E&P projects in Angola, Cameron, Gabon, Republic of South Africa • Additional Experience: • Siberia, Venezuela, Colombia, Indonesia, Malaysia, Iraq • USA onshore and offshore Gulf of Mexico. www.energulf.com Fall 2011 7

TSX-V: ENG West Africa: Regional Setting • The rift that opened the South Atlantic is the key to understanding hydrocarbon deposits in Brazil and West Africa. 1711 Block was juxtaposed to • the Santos Basin in Brazil during the early rifting of the Atlantic Ocean. • 1711 Block and Lotshi Block in DRC are not only on-trend to producing fields in West Africa, but are also conjugate to key rift basins in Brazil. www.energulf.com Fall 2011 8

TSX-V: ENG Regional Setting: Brazil- Africa Rift Pre-Salt or Syn-Rift Time: Post-Rift Time: Non-marine + salt deposition north Turbidite fan deposition. of the Walvis Ridge. www.energulf.com Fall 2011 9

TSX-V: ENG Regional Setting: Pre-Salt Play www.energulf.com Fall 2011 10

TSX-V: ENG Regional Setting: Post-Rift Turbidite Play www.energulf.com Fall 2011 11

TSX-V: ENG Pre-Salt and Tertiary Turbidite Plays www.energulf.com Fall 2011 12

TSX-V: ENG Democratic Republic of Congo Lotshi Block www.energulf.com Fall 2011 13

TSX-V: ENG Lotshi Block: Democratic Republic of Congo www.energulf.com Fall 2011 14

TSX-V: ENG Lotshi Block: History • Forabola #1 drilled in 1973 • PSA signed in 2005 • Presidential decree in 2008 • Airborne magnetics and gravity survey in 2008 • Boundary survey in 2009 • 2D seismic survey in 2010 • Prospective resource report completed May 2011 • Drill program preparation underway Location for 1 st well • Plan to Spud Q2 2012 www.energulf.com Fall 2011 15

TSX-V: ENG Lotshi Block – Prospect Portfolio • At least 7 prospects, 3 independent play ideas. • Lucula (target reservoir in all 7 prospects): – Forabola well drilled in 1970’s defined the Lucula Formation as the best potential reservoir on the block – Lucula is stratigraphically equivalent to the reservoir at the giant M’Boundi field. • Bucomazi is also a primary target in one prospect – Good reservoir properties in adjacent block to north Fractured basement or “basement wash” is a primary target in two of • the prospects. – Produced hydrocarbons in nearby Lindu well and in nearby Cabinda. • The Chela Dolomite is a secondary target in each prospect. – produces from the giant Rabi-Kounga field in Gabon and smaller fields in Gabon. www.energulf.com Fall 2011 16

TSX-V: ENG Lotshi Block: 1 st Well Secondary targets Loeme Salt Chela Dolomite Bucomazi Lucula Main Rift Fault Primary target ~1200 ft of closure Proposed TD of well, 2300 m www.energulf.com Fall 2011 17

TSX-V: ENG Lotshi Block: 7 Individual Prospects Mean Estimate – 313.2 million bbl over 7 prospects (Prospective Resources per DeGolyer & MacNaughton Report 2011) www.energulf.com Fall 2011 18

TSX-V: ENG Lotshi Block: Prospective Resources P10 Aggregate 428.6 Million bbl recoverable (Prospective Resources per DeGolyer & MacNaughton Report 2011) www.energulf.com Fall 2011 19

TSX-V: ENG 2012 Work Program • Dallas Prospect • 2300 M total depth Other Prospects • • 1500 m total depth • Approximately 30 days to drill each • Current pro forma • $8.5 million per well • Planned Spud date Q2- Q3 2012 Satellite Thematic Mapped Image www.energulf.com Fall 2011 20

TSX-V: ENG Nambia Block 1711 www.energulf.com Fall 2011 21

TSX-V: ENG Block 1711: Namibia Northernmost offshore B Northernmost offshore Block in ock in • Namibia Namibi EnerGulf EnerGulf - Interim nterim Operator Operator • 2.2 m million a llion acre b cre block ock • Two Ma o Major Plays, m r Plays, multiple pros ltiple prospects pects • Namibe Namibe Basin – Basin – No exploration o exploration • drilling prior to Kunene #1 drilli g prior to Kunene #1 15% W 15% Worki rking Interest g Interest (possi (possibl ble 19%) e 19%) • Co-V Co-Venturers: enturers: • 51-55% W.I. available • NAKOR - 10% (carried) • PetroSA – 10% W.I. • Namcor – 7% (carried) • HRT – 2.7% • Kunene Energy - 0.3% (carried) (BEE) • www.energulf.com Fall 2011 22