KENYA BLOCK 1

Mandera-Lugh Basin, Kenya




Overview

  • Lion Petroleum Corp 20% EAX (Afren) 80%
  • In First Additional Exploration Period - expires October 2014
  • Work Commitment 25 square kilometres of 3D plus a well to 3,000 metres. Total $6 million
  • Block is located in the Ogaden - Mandera-Lugh Basin covers an area of 22,247 square kilometres
  • Plays are Cretaceous, Jurassic and Triassic
  • 715 MMBO gross un-risked prospective resources (un-risked)
  • Oil seeps in Tarbaj and Genale
  • 1,900 kilometres of 60 fold 2D seismic data acquired 10,696 kilometres gravity data

Geology
This block is located in the Mandera-Lugh basin in northeastern Kenya . This is the southern extension of the Ogaden Basin which has 4 TCF of proven gas reserves. The El Kuran oil discovery is close to the border with Block 1, and will be evaluated with further drilling by New Age in Q4 2014. In the southwest corner of the block at Tarbaj, oil was found to be seeping into a water-well drilled by the Government of Kenya. This was later confirmed in a shallow core hole drilled by Total, demonstrating that hydrocarbons are present on the block.

Future Outlook
Afren are planning to drill an exploration well in Q3 2014