RE: Farm out- end of 2013 From page 24 of the corporate presentation. See highlighted section below.
Block 2B - Summary
Newly identified under-explored Tertiary-age riftbasin
play in the Anza Basin:
Analogous to Ngamia-1 & Twiga South-1 oil
discoveries (Tullow / Africa-Oil)
Tertiary basin trend extends from Block 9 (Marathon
farm-in for $57mm) to Block 2B
Hothori-1 = 9500ft of Tertiary & oil/gas shows
Extension of the oil-productive Cretaceous
Melut - Muglad basins trend
? 387 mmbbl mean unrisked prospective
resources (NI 51-101 report, Sproule)
100% working interest
7807 km2 in Anza basin
17 prospective leads so far
Largest lead 128 mmbbl unrisked
2D seismic program commenced in January
2013
? FTG survey to be acquired in Feb 2013
? Drilling anticipated 2013/14
? Farm-out agreement expected early 2013
End of Initial Exploration Period 1st June 2013
Two further extensions of 2 years each