Download 18 Billion Barrels Prospective Oil Offshore Namibia

June 2012
EnergyAfrica Presentation
18 Billion Barrels Prospective Oil Offshore
Namibia
TSX-V:EOG
Forward Looking Statements
This presentation contains certain statements that may be deemed forward-looking statements . All statements in this
presentation, other than statements of historical fact, that address events or developments that Eco (Atlantic) Oil & Gas Ltd.
( Eco Atlantic ) expects to occur, are forward looking statements. Forward looking statements are statements that are not
historical facts and are generally, but not always, identified by the words expects , plans , anticipates , believes ,
intends , would , may , could or should occur. Although Eco Atlantic believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future
performance and actual results may differ materially from those in forward-looking statements. Factors that could cause the
actual results to differ materially from those in forward-looking statements include, but are not limited to, market prices,
exploration and drilling success, continued availability of capital and financing and general economic, market or business
conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or
developments may differ materially from those projected in these forward-looking statements. Forward-looking statements
are based on the beliefs, estimates and opinions of Eco Atlantic s management on the date the statements are made. Eco
Atlantic undertakes no obligation to update these forward-looking statements in the event that management s beliefs,
estimates or opinions, or other factors, should change.
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Why Eco Atlantic
A New Emerging Oil and Gas Company
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Second largest acreage holding onshore and offshore Namibia, dual listed on the TSX and NSX
under "EOG"
Excellent Growth Potential
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Three offshore licenses covering over 25,000km2 reported NI 51-101 resource potential of
approximately 18 billion barrels
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Two onshore licenses covering over 30,000km2 with shale gas & coal bed potential
Advanced Exploration Program
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2D seismic data acquired on all offshore blocks from TGS NOPEC & WesternGeco
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3D seismic to commence end 2012
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NI 51-101 Report complete on Guy Block – 9.2 Bbl (P50) Best Estimate, Prospective oil
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NI 51-101 Report complete on Sharon Block – 7.8 Bbl (P50) Best Estimate, Prospective oil
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NI 51-101 Report complete on Cooper Block – 1.15Bbl (P50) Best Estimate, Prospective oil
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Total Gross Prospective oil resource of 18 Bbl (P50) Best Estimate (Net 12.74 Billion barrels)
Highly Experienced Team
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Experience in capital markets, African oil, gas & finance with established local networks
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Deal team execution track record
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Eco Atlantic Namibia
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Namibia is amongst the most stable politically and economically country in Africa.
Consistent, transparent, and professional bureaucratic system and business sector.
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A new frontier play attracting the world's majors (BP, REPSOL, PETROBRAS,
HRT etc.)
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One of the best, straightforward license and royalty regimes in oil exploration and
producing countries.
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A vivid and strong stock exchange (NSX), directly linked to JSE.
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Strong local presence: 2 local headquarters (Windhoek and Walvis Basin).
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Strong local partnership: 4 local individuals + the National Petroleum Corporation
(NAMCOR)
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Board Of Directors
Moshe Peterburg (Chairman, Co-Founder):
•  Over 25 years of experience in Africa (Nigeria, Equatorial Guinea, Ghana, Namibia and others).
•  Founder and Chairman of GP Minerals, a resource investment and development company.
Gil Holzman (President & CEO, Director, Co-Founder):
•  Significant experience in the mining and energy resource sectors throughout Africa.
•  Managed a portfolio of private and publically listed resource and energy companies.
•  Founder and CEO of GP Minerals.
Colin B. Kinley (COO, Director, Co-Founder):
•  CEO of Kinley Exploration LLC, providing professional, technical and oversight expertise to resource companies.
•  31 years of international expertise in energy project management and new energy company development.
•  Director and senior advisor of Adira Energy Ltd. (TSXV), Manx Energy Inc. and Excelsior Minerals (TSXV).
Alan Friedman (Executive Vice President, Director, Co- Founder)
•  President of Rivonia Capital Inc. 12 years experience in acquisitions, financings and TSX public transactions
•  Co-founder and Director and of Auryx Gold Ltd. (TSX-V: AYX) Gold Company with Namibian assets sold to B2Gold
for over $140 million.
•  Co-founder and Director of Adira Energy Ltd. (TSX-V:ADL) an O&G exploration company offshore Israel
Helmut Angula (Non-Executive Director) *NAMIBIA:
•  Over 20 years experience in the Namibian Government.
•  Served as Deputy Minister of Mines & Energy and Minister of Fisheries & Marine Resources; Finance; Agriculture,
Water & Rural Development; and Works and Transports.
Peter Nicol ( Non- Executive Director)
•  40 years experience in the banking industry, with 20 years specializing in the oil and gas sector.
•  Headed the Oil and Gas Research team at GMP Securities Europe
•  Initiated coverage and finance of over 36 international E&P Companies.
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Management & Consultants
Alan Rootenberg (Chief Financial Officer)
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Chartered accountant, former CFO of Volta Resources (TSX: VTR)
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Ex- senior executive for various publicly traded companies, previous CFO of Adira Energy and Auryx Gold
Jose Bastos (Director, Eco Oil & Gas Namibia) *NAMIBIA:
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40 years experience in fishing and tourism industry in Namibia, founded several hotels
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Co founder of Welwitcshia & Indira Ghandi Hospitals
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Non executive Director of Bidvest Namibia, traded on NSX with several fishery distribution and commercial interests
Naeman Amalwa (Country Manager) *NAMIBIA:
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Namibian businessman, 30 years experience in resource industries.
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Director of Namibian based JKD Diamonds (Pty) Ltd, Dynamo Diamonds (Pty) Ltd, founder of Salina Geological
Services.
Phillipine Angula (Country Manager) *NAMIBIA:
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10 years experience in various industries such as diamonds, mining, infrastructure, and real estate in Namibia
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Director of Dynamo Diamonds (Pty) Ltd., a fully owned Namibian company - a partner to Julius Klein Diamond Group
Julia Maxwell (Manager, Investor Relations):
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Over five years communications and Investor Relations experience in the resource industry.
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Worked for numerous TSX listed junior mining and energy companies, and has extensive knowledge of the sector.
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Specializes in corporate branding and investor communication strategies.
Greg Embery (Consultant, Kinley Exploration):
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VP of Geology at Kinley Exploration.
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Ex- Manager of Geology for Layne Energy - oversaw exploration and development programs and evaluated all
potential prospects and acquisitions
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Namibia Overview
Brazilian Counterpart, Gondwana
Economic Profile
Common geological history and contains
similar petroleum systems
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GDP: US$15.5 billion (2011 estimate)
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Annual Growth: 3.6% (2011 estimate)
Over 80 Billion barrels Bbls BOE of
recent discoveries in South Atlantic Ocean
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Population: 2.17 million (2012 estimate)
Inflation: 5.3% (September 2011)
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Approximately 30 Bbls BOE estimated
offshore Brazil
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Major trading partners: South Africa,
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Recent 3D seismic surveys reveal
consistent and prolific results beginning to
mirror its geologic counterpart in Brazil
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Angola, UK, Spain, Japan, China and USA
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Taxation of oil production: 5% State
Royalty / 35% corporation tax / no capital
gains / IRR>15% - APT
* Source: CIA World Factbook
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Paleoceanographics
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Near Term Regional Catalysts
Tower/ Arcadia (2011A)
Repsol Oil farm in 44% WI
•  9 BBOE Unrisked Potential
•  Delta prospect expected to be drilled in H2/12
Cooper
Eco Atlantic Oil & Gas – 18 Billion Barrels of Oil
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1.15Bbl Prospective oil Best Estimate (P50) on 2012A
7.8 Bbl Prospective oil best Estimate (P50) on 2213 A/B
9.2 Bbl Prospective oil Best Estimated (P50) on 2111B/
2211A
3D seismic to commence 2012
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HRT
• Rig Secured – 4 Wells 2012/13 Walvis & Orange Basin
Chariot/Petrobras
•  4 -5 wells expected in 2012 – 2013
•  Estimates P50 gross resources of over 14 BBOE on licenses
Serica Energy/BP
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License awarded in Nov 2011, Petroleum Agreement
approved Jan 2012
BP Farm- in 30%, fund 40m$ 3D seismic
Chariot/ Petrobras/BP (45% WI)
•  NIMROD Prospect to be drilled July 2012
Kudu Gas Field
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1.3 TCF Proven Gas Reserves
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Comparables: Net Prospective Resource
14,000
Millions of Barrels Oil
12,000
10,000
8,000
6,000
4,000
2,000
0
Africa Oil
Chariot Oil Eco Atlantic Energulf
& Gas
Resources
Note: values (MMbl) estimated of 2D and/or 3D seismic
Serica
Energy
Tower
Resources
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Namibian Offshore Basins
Namibe Basin
COOPER
Tower/Arcadia/Repsol
Walvis Basin
Eco Atlantic Blocks
Luderitz Basin
Chariot/BP/Petrobras
HRT
Orange Basin
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Visible Oil Seeps
Eco Atlantic Blocks surround
HRT Walvis Basin blocks to be
drilled in 2012
Source : HRT
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Farm- in Partners
Offshore Blocks
Azimuth Ltd. – 20% Working Interest / 40% carry
A well-funded, rapidly-growing company equipped with the technical capabilities of a mid cap E&P
firm. Backed by majority-owner Seacrest Capital Ltd, a Bermuda based energy investment group,
and Petroleum Geo-Services ASA (PGS). Azimuth has access to the world s largest multiclient
seismic library, to leading edge geophysical expertise and to 85 subsurface specialists distributed
in around the world.
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Azimuth – 20% Working interest. Will fund 40% of 3D offshore (over 10m$)
NAMCOR – 10% Carried Interest
Wholly-owned by the Republic of Namibia, National Oil and Gas Company. Main business is to
ensure the optimum exploitation of Namibia's petroleum resources & Namibian participation in
petroleum related exploration activities. NAMCOR acts as advisors to the Ministry of Mines &
Energy, assists in monitoring the exploration activities of licensees
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Eco will benefit from access to NAMCOR s geological survey as well as an indirect opportunity to
further cooperate on NAMCOR s own held blocks
Carried interest until first production
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Guy Technical Highlights
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Eco – Operator and 70% working interest
Guy License
Conventional oil targets
P50 (Best) probabilistic estimate:
Water Depth: 2,000 to 3,500 m range
9.2 billion barrels of recoverable oil
Depth: 3,500 to 5,100 m to top of structures
Seven significant resource leads within the Lower Cretaceous and Tertiary Sections (Oil)
Leads are structural and fault bounded, faults down to Early Cretaceous Synrift Section
10 to 150 meters of pay thickness
Seven Leads cover and estimated 1,564 km2 are from 17 to 417 km2 each
Estimated 20% recovery factor
350 API oil and 21% porosity
Completed NI51-101 Resource Reports: Gustavson Assoc.
Probabilistic Lead Report 100% WI Best (P50) 9.2 Billion Barrels
Guy Block Gustavson NI-51-101 Prospective Resource Report : May 21, 2012
Seven Concentrated Leads
Up to 150m of Pay
1,564 km2 (17 to 417 km2 each
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Sharon Technical Highlights
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Sharon License
Eco – Operator and 70% working interest
P50 (Best) Probabilistic Estimate:
Conventional oil targets in the Walvis Basin
7.79 Billion Barrels of Recoverable Oil
Shallow water over targets: 150 m range
Shallow resource targets : 2,600 m range
Two significant resource leads within the Lower Cretaceous sands (Oil)
Source rock is approximately 3,700 m deep – peak oil generation window
Lower drilling risks and lower drilling costs
25 to 150 meters of pay thickness
>1200 km2 of lead area on the two leads
Estimated 20% recovery factor
320 API oil and 21% porosity
Completed NI 51-101 Resource Reports: Gustavson Assoc.
Probabilistic Lead Report 100% WI Best (P50) 7.79 Billion Barrels
Sharon Block Gustavson NI-51-101 Prospective Resource Report : March 6, 2012
Two Large Concentrated Targets
50-100 m Pay, Shallow Water,
Shallow Depth
Block 2213A & 2213B
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Cooper Technical Highlights
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Eco – Operator and 70% working interest
Cooper License
Conventional oil targets
P50 (Best) probabilistic estimate:
Shallow water over targets: 400 m range
1.15 billion barrels of recoverable oil
Shallow resource targets : 2,000 m range
Five significant resource leads within the Upper Cretaceous sands (Oil)
Source rock is approximately 3,700 m deep – peak oil generation window
Lower drilling risks and lower drilling costs Aptian source rocks beneath may be gas prone
35 to 75 meters of pay thickness
107 km2 of lead area on the five leads
Estimated 20% recovery factor
350 API oil and 21% porosity
Completed NI 51-101 Resource Reports: Petrotech Engineering/Gustavson Assoc.
Deterministic Lead Report 100% WI Best Conservative (P50) 412 Million Barrels
Probabilistic Lead Report 100% WI Best (P50) 1.15 Billion Barrels
Gustavson NI-51-101 Prospective Resource Report : February 1, 2012
Five Large Concentrated Targets
35m Pay, Shallow Water,
Shallow Depth
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Eco Atlantic Milestones Timeline
Eco (Namibia)
Established
March 2011
Granted Licenses
Onshore & Offshore
Namibia
June 2011
Acquired 2D Seismic Data
Interpretation & Processing
Offshore Blocks
Nov 29, 2011
Trading
TSXV:EOG
March 2012
Sharon, NI 51-101
Best Estimate (P50)
7.8 BBL Oil
May 2012
Guy, NI 51-101
Best Estimate (P50)
9.2 BBL Oil
Milestones
January 2011
Acquisition
Eco Oil & Gas Acquires
Eco (Namibia)
April 2011
Private Placement
Raised $3M @ $0.40/unit
equivalent
August 2011
Cooper, NI 51-101
Best Estimate (P50)
1.1 BBL Oil
January 2012
Private Placement
Raised $6M @
$0.60/unit
April 2012
NSX Listing
NSX:EOG
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Contact Information
Eco (Atlantic) Oil & Gas Ltd.
Corporate Office:
Corporate Contact:
Canada
120 Adelaide Street West, Suite 1204
Toronto, Ontario
M5H 1T1
Gil Holzman
President & CEO
[email protected]
Namibia Office:
269 Independence avenue, 8th floor
Windhoek
Julia Maxwell
Manager, Investor Relations
[email protected]
+1 416 361 2211
[email protected]
www.ecooilandgas.com
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Appendices
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Cooper License
Block 2012A
Offshore
Block Size: 5,000 km2 (acres: 1,235,000)
Access:
Floater
License:
70% working interest, Eight years
Partners: Azimuth Ltd. 20% WI, NAMCOR 10% WI
Water:
200 m to 500 m
Target:
Basal Tertiary Clastics and Turbidites (2,000 m
- 2,300 m), upper Cretaceous Clastics and
Turbidites (2,400 m - 2,700 m), lower
Cretaceous Carbonates (3,300 m - 3,600 m)
Commitment: Year 1: Initial desktop study to review
all available seismic and current
information (Completed)
Year 2-3: Complete a 500 km2 3D
seismic survey across the block
Year 4: Drill an exploration well estimated depth of 4,000 m
Cooper
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Sharon License
Blocks 2213A & 2213B
Offshore
Block size: 10,000 km2 (Acres: 2,471,000)
Access:
Jack-up
License:
70% Working Interest, Eight years
Partners:
Azimuth Ltd. 20% WI, NAMCOR 10%WI
Water:
0 m to 200 m
Target:
Basal Tertiary Clastics and Turbidites (1,800
m - 2,000 m), upper Cretaceous Clastics
and Turbidites (2,200 m - 2,400 m), lower
Cretaceous Carbonates (3,100 m - 3,300 m)
Commitment: Year 1: Initial desktop study to review all
available seismic and current
information
Year 2-3: Complete a 1,000 km2 3D seismic
survey across the block
Year 4: Drill an exploration well estimated Depth 3,700 m
Sharon
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Guy License
Blocks 2111B & 2211A
Offshore
Block Size: 10,000 km2 (Acres: 2,471,000)
Access:
Semi/floater
License:
70% working interest, Eight years
Partners:
Azimuth Ltd. 20% WI, NAMCOR 10%WI
Water:
2,000 m depth (east side targeted)
Target:
Basal Tertiary Clastics and Turbidites (3,100
m - 4,600 m), upper Cretaceous Clastics and
Turbidites (3,500 m - 5,000 m), lower
Cretaceous Carbonates (4,400 m - 5,900 m)
Commitment: Year 1: Initial desktop study to review all
available seismic and current
information
Year 2-3: Complete 1,000 km2 3D
seismic survey across the block
Year 4: Drill an exploration well estimated depth 6,000
m
Guy
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Block 2013B, 2014B, 2114 & 2418
Onshore
Block Size: 30,000 km2 (Acres: 7,413,000)
Access:
Truck mounted mobile drilling rig
License:
90% Working Interest, Eight years
Partner:
NAMCOR, 10%
Target:
Karoo Coal and Shale Sequence (estimated
800 m depth 60 m thick) CBM and tight shale
Commitment: Year 2+3: Initial desktop study of the
resource. Selection of initial
drilling target, wireline coring
and gas content/volume testing
and Maceral evaluation
Estimated drill depth - 1,200 m
By End Year 4: Drilling of a five spot pilot well
test program
Onshore
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Local Namibian Participation
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Eco Atlantic acquired Namibia local company, Eco Oil & Gas
Namibia ltd., holding license applications, for consideration of 20%
of Eco Atlantic Oil & Gas
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Helmut Angula, ex Deputy Minister of Mines and Energy, Elected to
Board Of Eco Atlantic
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Jose Bastos, Co founder of Welwitcshia & Indira Ghandi hospitals
in Namibia, elected to Board of Eco Namibia
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Naeman Amalwa and Phillipine Angula appointed as Country
Managers
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Local corporate office in Windhoek
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Strong Relationship with NAMCOR, National Oil and Gas Company
•  NAMCOR has a carried 10% interest in the licenses to
production
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