Thom Board, Gérant

Compagnie Minière Congolaise, sprl

Compagnie Minère Congolaise - CoMiCo

The Central Basin – Cuvette Centrale

Exploration Challenges in a Frontier Basin

CoMiCo – Frontier Exploration Acreage

»Cuvette Centrale Basin

approximately 1.2M km2

»CoMiCo acreage across

three blocks: 146,000km2

»Direct frontage to the

River Congo within Block

1 – approx. 350km and

500km from Kinshasa

»Access across the entire

acreage by major

tributaries of the Congo

river:

Rivers - Busira, Momboyo,

Lulonga, Lopori, Lukenie,

Fimi

»Two large lakes within

acreage: Inongo and

Ntomba

Block 1 – Mbandaka

50,000km2

Block 2 – Lokoro

48,000km2

Block 3 – Busira

48,000km2

Field Exploration (and Development) – Transport Considerations

2011 Geological Fieldwork Campaign

» The November 2011 Field Campaign was a collaboration between CoMiCo,

the DRC Hydrocarbon Ministry and the RMCA of Belgium

» Principal purpose: revisit oil seep sites and new oil seep and geophysical

sample locations

» Secondary purpose: survey the river network, access to hinterland and

viability of marine operations

» Exploration and development potential of typical prospect;

Bokunga Prospect, Boende, River Tshuapa.

Desktop Exploration – Prospectivity of CoMiCo’s Acreage

»Lack of data – compilation of worlds most comprehensive data set

»Approximately 45% of land area has returned data

»Competent Persons Report by Netherland Sewell & Associates Inc., USA. (NSAi)

»Undiscovered Volumetric Potential Study by Rose & Associates LLP, USA. (R&A)

Findings NSAi R&A

Number of studied structures 20 leads 12-80 fields

Mean recoverable volume (BOE) 3.0 Bn 7.0 Bn

Mean discovery size (MMBOE) 150 155

Max. expected discovery size (MMBOE) 750 1,100

Scoping Economics & Feasibility Study by Moyes & Co., USA

Exploration Process

» Shoot additional Gravity and Magnetics grid

» Acquire Satellite Imagery and other reconnaissance data

» Use above data to determine where to acquire additional 2D seismic data

» Acquire additional 2D seismic data

» Mobilize and drill exploratory prospect(s)

» Core and test any significant shows

» Appraise discoveries with additional wells, including flow test and core

» Shoot 3D seismic over discovery(ies)

» Complete drilling appraisal program to prove OOIP and reserve range

» Initiate engineering studies for field development plan

AERIAL ACQUISITION

OFFICE BASED ANALYSIS

IN FIELD SEISMIC ACQUISITION

BARGE BASED OPERATIONS

Aerial and Seismic Challenges

AERIAL

» Despite airbourne restrictions aero-acquisition is possible

SEISMIC

» Seismic acquisition across harsh environment is industry standard

Barge Based Operations

» Traditional exploration clears camps on

or near rivers (left - drilling base

Solimēos Basin, Amazon, Brazil)

» In regions where security or resupply

are difficult operations have been self-

sufficient from single or multiple barges.

» Early exploration of the

Mississippi delta and US Gulf

coast was from barges.

» Modern operations in the Nigerian

Delta region or Amazon rainforest

are sophisticated

» Environment and Safety FIRST

Technology and Environmentally Driven

» Remote operations in river

environments require an entirely

marine based logistical support.

» Supply base in Kinshasa to deliver

exploration equipment, people, food

and all ancillary components by barge.

» The technology that allows for

small footprint operations is

principally directional drilling

» Further advances in ‘whilst drilling’

data collection and analysis

reduces space and time

constraints.

… and the development plan?

» CoMiCo’s development plan is reliant on marine based operations

» Export route will be by small pipeline to riverside terminal

» From riverside terminal dual push-barge to Kinshasa - 35,000 bbl capacity

» Riverside terminals in Block 1 and in Kinshasa - 10 day storage capacity

» Twin existing pipeline from Kinshasa to Muanda