Namibia Current activities Roger Swart NAMCOR WINDHOEK NAMIBIA

Namibia Current activities Roger Swart NAMCOR WINDHOEK, NAMIBIA 20 th June 2005 www. namcor. com. na

Talk outline Namibia’s potential Conventional gas resources Kudu 1711 Unconventional gas resources Current activities www. namcor. com. na

Namibia’s potential Kunene Kudu www. namcor. com. na

www. namcor. com. na

Namibia’s potential Kudu Gas Field Proven 1. 4 tcf; upside 8 tcf Considerable upside remains Advanced feasibility stage 800 MW CCGT in Namibia Extend to 1600 MW later www. namcor. com. na

Kudu field area • WATER DEPTH : 170 m • RESERVOIR DEPTH 4400 mbmsl • HIGH PRESSURE – 536 bar • HIGH TEMPERATURE – 158°C • DRY/SWEET GAS – 96% CH 4 • 2 -3 bbls/MMscf CONDENSATE • DETERMINISTIC GIIP (Tscf) EA GCA PROVED 1. 38 1. 45 PROBABLE 3. 28 2. 72 POSSIBLE 9. 92 7. 12 www. namcor. com. na

Kudu Project Scheme Gas Sales Agreement Domestic sales in Namibia Power Purchase Agreement Kudu Upstream JV Energy Africa Kudu Limited (90%) Nampower Namcor (10%) + Partners Kudu Power Station Company Nampower (100%) + Partners (? ) Power Purchase Agreement Eskom - export sales to RSA www. namcor. com. na

South African Generation Source: SA Department of Minerals and Energy, Integrated Energy Plan, 2003 www. namcor. com. na

Namibia’s potential Other Orange Basin Deeper water plays Inboard plays; cf. South African portion Source rock widespread www. namcor. com. na

Namibia’s potential Kunene Kudu www. namcor. com. na

Block 1711 Large (>300 sq km) 4 -way closure High relief Abundant DHI’s Potentially large reserves www. namcor. com. na

Regional Seismic Line www. namcor. com. na

Source Syn-rift source Red Cuvo Fm/Bucomazi in Kwanaza Lacustrine, oil prone Presently mature at predicted depth Generation in last 20 Ma www. namcor. com. na

DHI’s Abundant: Gas chimneys Hydrates Thermogenic gas shows Pock marks www. namcor. com. na

Potential reserves Vanco NSAI Vanco Kunene Oil Gas on Oil Gas Condensate Dry Gas Oil (MMBO) 733 354 545 87 Gas (BCF) 720 3, 857 3, 520 5, 801 www. namcor. com. na

Surface seeps www. namcor. com. na

Unconventional Resources Hydrates Abundant in Block 1711 Excellent BSR’s Sampled with drop cores Partly thermogenic source Also recognised in Lüderitz Basin www. namcor. com. na

Unconventional resources Hydrates Business challenges Lack of supporting infrastructure Piggy back on conventional development in 1711? What is total volume of gas in place? What is total volume of gas recoverable? What rates can we produce at? Additional operating/maintenance expense? Potentially a huge resource for region www. namcor. com. na