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Oando Energy Resources (OER) is the new trading name of Exile Resources lnc (Exile)
A Truly Indigenous post the acquisition of certain Shareholding interests in Oando PLCs upstream
subsidiary in respect of Oil Mining Leases (OMLs) and Oil Prospecting Licenses
(OPLs). It is publicly traded on the Toronto Stock Exchange.
Oil & Gas Company
The Company is an independent oil and gas company focused on exploration and
Listed on the TSX production opportunities in the highly prolific Niger Delta region of Nigeria and the
Exclusive Economic Zone of So Tom and Prncipe
ConocoPhillips Acquisition
E
GAM ~$1.57BN
R
H A NGE Acquisition price after
C customary adjustments
36.5kboepd
Net Oil & Gas average production for 2013:
11kbopd (Oil) & 25kbopd (Gas)
221MMBOE
2P Reserves
Onshore: OMLs 60, 61, 62 & 63
492MMBOE
2C Resources
Onshore: 210MMBOE
Offshore: OML 131 & OPL 214 (282MMBOE
50 250
40 200
US$ MIllions
mbpod
30 150
20 100
10 50
0 -
Vendor Case Oando Base Case Vendor Case Oando Base Case
Net Operating Cash Flows*
350
300
250
US$ Millions
200
Gas
150
Oil
100
Kwale IPP
50
Valuation Onshore Assets Oando Case Valuation Offshore Assets Oando Case
3,500 1,200 1,168
1,100 US$, millions
3,000 US$, millions
115 1,000
409
2,500 150 900
800
2,000 1,124 700
600
1,500 Purchase Price: US$ 1.44Bn
2,851 500
2,701
112 2,177 400
1,000 154 354
300
200
500 788 200
**Effective Purchase Price: : US$ 130 million
152 100
- - OML131 OPL214 Contingent Woodmac
2012 FCFs* Oil Kwale IPP Existing gas Bid Case 2C 3P Total Exploration Total
Prospects Resources Valuation*
NPV
* Wood MacKenzie M & A Service, December 2012
Crude Oil Price (US$)
2C MMboe US$millions** ConocoPhillips to divest its Nigerian business unit
80 Oando Price Deck 90 100 110 to Oando Energy Resources for US$1.79 billion
US$, millions 2,118 2,177 2,211 2,302 2,406 OML 131 200 37
** Valuation based on Uge field (OPL 214 );
2P Reserves, mmboe 431 431 431 431 431 OPL 214 82 154 and unitized Bolia Chota field (OML 131),
with Shell being the operator
US$/2P boe 4.91 5.05 5.13 5.34 5.58 Total 283 191
*2012 Operating CFs less WC and CAPEX
Selected Nigerian Transactions
Announced Date Buyers Value Oil Prod 2P Reserves Implied Value Implied Value
INVESTOR CONTACT
Pade Durotoye +234 (1) 2601290 Tokunboh Akindele +234 (1) 2702496
Chief Executive Officer pdurotoye@oandoenergyresources.com Head, Corporate Development & Investor Relations takindele@oandoenergyresources.com www.oandoenergyresources.com