Mission and Goals
Mission
Access petroleum resources in Nigeria ensuring attractive returns to all stakeholders and the communities.
2014-2015
Build an asset value of > USD 500 mln
Develop and produce KE field
Acquire other Marginal Fields
Farm-in to exploration blocks
Farm-in to IOC divestments
Operate production 12,000+ bopd of mainly high margin bbls via partnerships with local players
Establish position as operator in Nigeria
Offer minimum ROE of 35+ % per annum
Listing at the TSX to access further capital and offer early stage investors an exit
Beyond
Grow the asset value to > USD 2 bln
Establish position as a leading operator in Nigeria
Operate production of 50,000+ bopd of mainly high margin bbls via partnerships with local players
Partake as (non-)operating partner in JV’s in West Africa
Investment Case
- KE-1
- KE South
- Oil Output
-
Existing well Re-entry and Completion
2 zones encountered hydrocarbons
1 zone was tested, the other sampled; light crude.
First oil scheduled for 2014
Early production system and barge evacuation
Onshore well location and barge jetty are in place
-
Drill one additional Well
Appraise KE South West prospect with one deviated well in 2015
13 reservoir sands have been mapped
Scope for exploration drilling into other KE prospects: > 100 MMb prospective resources
-
Evacuation via dedicated or shared FPSO.
Subsurface Works Completed at KE Field
- 3D seismic reprocessing and interpretation
- Mapping of South well locations
- Competent Person's Report
Civil Works Completed at KE Field
- Sand filling and piling of KE-1 discovery location
- Perimeter Fence
- Ground preparation
- Access road
- Jetty & staging area
- Waste-pit
- Helipad
