Namibia The Oil and Gas Activities and Hydrocarbon

Namibia: The Oil and Gas Activities and Hydrocarbon Potential Uaapi Utjavari Geoscientist NAMCOR AAPG International Conference & Exhibition November 15 -18, 2009 Rio de Janeiro, Brazil

Outline 1. o o 1. 2. 3. Introduction Location Map Onshore & Offshore Basins Fiscal & Legal Regime Database Current License Activities Farm-in opportunities Conclusions

Location Map: Namibia Key Figures Land Area: Population: GDP per capita: Life Expectancy: 825 418 km 2 2. 03 million (2005 est. ) $2000 44 years

Onshore & Offshore Basins q Four offshore basins q Two onshore basins q. Coastline = 1572 km Source: Light et al. , 1993

Fiscal & Legal Regime üNamibia Fiscal & Legal terms are in line with the international best practice and standard. § Royalty - 5% §Petroleum Income Tax – 35% §Additional Profit Tax (ATP) – 3 tiers • 1 st tier – 15% after tax real rate of return • 2 nd tier – 20% after tax real rate of return • 3 rd tier – 25% after tax real rate of return §No Signature Bonus §Annual License Rentals §Training Fund §Open Licensing Systems

Database map

Aeromagnetic & Satellite Gravity

Current License Activities

Enigma v. Local Company v. Four Licenses (3 offshore, 1 onshore) v. PETROBRAS bought a stake in 2714 block

Arcadia Petroleum v. Partners: Arcadia 85%, Neptune 15% v. Considering to acquire 3 D seismic

NAMCOR v. National Oil company of Namibia v. Completed 2 D seismic interpretation in the Walvis Basin. v. Farm – in opportunities in both Walvis and Luderitz Basin

Farm – in Opportunities Walvis Basin Water depth: 600 – 3000 m Play: Broad Four-way dip closures anticline Reservoir: Santonian to Maastrichian deep marine turbidites sands Seal: Intervening deep marine shales Source: Early Aptian and Cenomanian-Turonian Area: 11 000 km 2

Farm – in Opportunities cont……. Regional seismic line SW Ondjou Block 2012/13 -001 oup 6&7 r G s 4&5 i v l p a u W o r 3 s. G Walvis Group Syn-rift sequence NE Rift Shoulder

Farm – in Opportunities Cont……. Ondjou structure SW NE 1400 m Upper Cretaceous WG 5 partly cut by Late Cretaceous unconformity (stratigraphic trapping) 2600 m 3800 m Walvis Group 2 (Lower Cretaceous) 4 way dipclosure Structurally conformable amplitude anomalies 4 -way dipclosure extends into Upper Cretaceous WG 3 and 4

Farm – in Opportunities Cont………. Luderitz basin Water depth: 200 – 3500 m Play: Broad Four-way dip closures anticline Reservoir: Barremian to Paleocene deep marine turbidites sands Seal: Intervening deep marine shales Source: Early Aptian and Cenomanian-Turonian Area: 38 214 km 2

Farm – in Opportunities Cont………. Seismic expression of prospect A Large Four-way dip closure

Conclusions • Two proven source rock intervals: ü Aptian – Albian üTuronian – Cenomanian • Massive Exploration Activities are underway • Good seismic coverage over the margin – Great exploration opportunities

Thank You For more Information, Please visit our booth in the International Pavilion