Frontier Plays in Congo and Offshore Namibia Summer 2013 TSX-V: - PowerPoint PPT Presentation

TSX-V: ENG | www.energulf.com Frontier Plays in Congo and Offshore Namibia Summer 2013

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 Summer 2013 2

TSX-V: ENG EnerGulf Overview Democratic Republic of Congo • Onshore – Lotshi Block Namibia • Offshore - Block 1711 Summer 2013 www.energulf.com 3

TSX-V: ENG EnerGulf: At a Glance Dallas based management team and West Africa based 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 • • Mean resource estimate: 3.166 Billion BO recoverable 2 – P10 aggregate (high case): 6.106 Billion BO recoverable 2 • 15 prospects, 3 independent plays EnerGulf: 15% interest • 1 DeGolyer & Mac Naughton, March 2011 2 Netherland, Sewell Feb. 2012 www.energulf.com Summer 2013 4

TSX-V: ENG Directors, Advisors and Management • Jeffrey L. Greenblum Tom Fetters • Director & CEO Director • Formerly Exxon, Exploration Planning Manager • Chairman of the Board CEO Consolidated Natural Gas • • Served as senior official in President George • President of Exploration Company of Louisiana H.W. Bush administration at the Department of Energy and Department of Commerce. • Senior executive with Diamond Fields Resources, • Clive Brookes Inc (Sold to Inco for $4B). and KP Exploration Director & CFO (Kidder Peabody). • Extensive Experience in West Africa • B. Comm. UBC • 20 years experience as founder, director and • Joe Soliz officer with public junior resource companies Director • Founded and developed several start up companies in resource, service and medical sectors. • J.D. degree from Harvard Law School and has practiced U.S. and International Oil, Gas and Mineral Law since 1979 www.energulf.com Summer 2013 5

TSX-V: ENG Directors, Advisors and Management • Dr. Joe Davis • Joseph Canales Exploration Manager Geophysical Advisor • Formerly, R&D at Arco, Sr. Advisor at Maxus Energy • 30 years experience geosciences/geophysicist: Perenco, • VP Exploration at Strategic Petroleum and Ocean Energy, UMIC, Conoco Hyperion Resources • Experience in on-shore and extensive • EnerGulf since 2006 off-shore West Africa exploration • Developed EnerGulf Projects since 2006 • William Brumbaugh • Dr. James Edwards Drilling Coordinator Explorations Advisor • 34 years international experience: Conoco • Formerly Triton Oil, responsible for (Regional Coordinator for West Africa/Chief Cusiana field discovery, Colombia (2 nd Geophysicist 17 years), Mobil (Angola country largest W. Hemisphere) manager, 5 years), Amoco, Total, Tullow, Anadarko, • EnerGulf since 2006 ExxonMobil and consultant to various governments, universities, and World Bank Summer 2013 www.energulf.com 6

TSX-V: ENG • Israel Hernandez • Prof. Albert Ongendangenda Senior Advisor for Deepwater Director General-EnerGulf Congo Drilling, Engineering, and SARL Operations • Located in Kinshasa • Deep offshore drilling manager for Mobil, • Former Energy Advisor to President of DRC BHP , ARCO • The Hon. Andimba Toivo Ya Toivo • Dr. Yves Neuville Senior Advisor for African Affairs Special Advisor to the Chairman and CEO • Former Minister of Mines and Energy, Namibia • Chairman of SWAPO (ruling party), Namibia • Former advisor to Minister of Budget and Finance, France • Professor at Sorbonne Summer 2013 www.energulf.com 7

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 Summer 2013 www.energulf.com 8

TSX-V: ENG Share Structure & Capitalization TSX-V: ENG FSE: EKS Issued and outstanding: 68,363,438 Options: 5,145,000 Fully diluted: 73,843,438 * As at June 28, 2013 www.energulf.com Summer 2013 9

TSX-V: ENG Regional Setting: Brazil-Africa Rift Pre-Salt or Syn-Rift Time: Post-Rift Time: • Non-marine + salt deposition north of the Turbidite fan deposition • Walvis Ridge www.energulf.com Summer 2013 10

TSX-V: ENG Democratic Republic of Congo Lotshi Block • Population of 75.5 million (2013 est.) • 11 th largest country in the world • Capital – Kinshasa • GDP of 27.575 billion (2013 estimate) • Country is rich in natural resources, including diamonds, gold, petroleum, copper, and cobalt • Large UN peace presence Fiscal Terms: • 9-12.5% Royalty * • 100% costs deduction (cost oil) • Profit Oil split 30%/70% or 45%/55% between Government and Contractor after Cost Oil recovered* • No income tax * slides per total production up to 8m/bbls www.energulf.com Summer 2013 11

TSX-V: ENG Lotshi Block: Democratic Republic of Congo www.energulf.com Summer 2013 12

TSX-V: ENG Lotshi Block: History • 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 • Mean estimate: 313.2 Million Barrels recoverable Location of1 st well www.energulf.com Summer 2013 13

TSX-V: ENG Lotshi Block: Dallas Prospect Secondary targets Loeme Salt Chela Dolomite Bucomazi Lucula Main Rift Primary target ~1200 ft of Fault closure Proposed TD of well, 2300 m www.energulf.com Summer 2013 14

TSX-V: ENG Lotshi Block – Prospect Portfolio • At least 7 prospects (defined by 2-D seismic), 3 independent play ideas 450 km criss-crossed 2-D seismic (250 km originally shot Fina and 202 km shot by EnerGulf) – 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 – F ractured 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. – Tested at 2000 bbl/day in a discovery in nearby Cabinda – www.energulf.com Summer 2013 15

TSX-V: ENG Lotshi Block: Prospective Resources Mean Aggregate – 313.2 Million bbls over 7 prospects P10 Aggregate – 428.6 Million bbl recoverable P90 Aggregate – 207.7 Million bbl recoverable (Prospective Resources per DeGolyer & MacNaughton Report 2011) www.energulf.com Summer 2013 16

TSX-V: ENG Lotshi Work Program • Dallas Prospect • 2300 M total depth Other Prospects • • 1500 m total depth • Approximately 30 days to drill each Current pro forma • $6-$8.5 million per • well Satellite Thematic Mapped Image www.energulf.com Summer 2013 17