Communication on Hydrocarbon Exploration Opportunities in Mauritania

Introduction Population: 3.0 million Independence: 1960 Economy built on: Mining, Agriculture and Fisheries Capital city: Nouakchott (0.8 million) Main cities: Nouadibou, Kiffa , Zouerate, Kaedi, Aioun, Atar…. Islamic Republic of Mauritania

Entry Details to Mauritania Visas can be arranged at Mauritanian Embassies or via the Department of Petroleum and Mining Entry from Europe, West/North Africa: via Paris/Dakar/Bamako/Abidjan/Casablanca/Algiers/Tunis Entry Points from Europe: Nouakchott & Nouadhibou Internal travel is by road (sealed/unsealed) Many major hotels in Nouakchott: Mercure/Monotel/Halima/Houda/Novotel/Sabah/Amane/Park/Khaima Nouakchott is the political and commercial centre Travelling into historical cities of Mauritania is exciting Islamic Republic of Mauritania

Geological Framework 4 main geological Units 1 Coastal Basin Tertiary to actual Age 2 Mauritanide Belt Caledonian/Hercynian Age 3 Taoudeni Basin Infra-Cambrian to Secondary Age 4 Reguibat Shield Precambrian Crystalline Shield Islamic Republic of Mauritania

Annexe 2-1: Principales formations géologiques République Islamique de Mauritanie

Coastal Basin 56 Blocks: - 52 Blocks Offshore ( 7 still open) - 4 Onshore Seismic Acquisition: More than 60.000 km 2D (Offshore) More than 18.000 km2 3D (Offshore) 1800 km 2D seismic Wells Drilled: 55 52 wells Offshore 3 well onshore All offshore wells encountered oil or gas shows 8 Oil & gas discoveries (Chinguetti, Banda, Tiof,Tevet ,Labeidna, Pelican ,Faucon and Airgrette) Offshore Onshore Offshore Onshore Islamic Republic of Mauritania

WOODSIDE SEISMIC MAP IN MAURITANIA Islamic Republic of Mauritania

Offshore structural map Islamic Republic of Mauritania

Islamic Republic of Mauritania

Well Completion Data - Post 2000 OPERATOR RIG / DRILLSHIP WATER DEPTH Total Depth FORMATION m  m OCT - 1B Amaco Glomar No.Sea 75 4170 Neocomian Global Marine   AL KINZ - 1   Amaco   Glomar No.Sea Global Marine 58 4107   Campanian   0CT - 2   Amaco   Glomar V Global Marine 91 3061   Neocomian   MTO - 1   Esso   Glomar IV Global Marine 123 2255   Peleocene   MTO - 2   Esso   Glomar IV Global Marine 107 3972   Aptian   MTO - 3   Esso   Glomar Grnd Isle Global Marine 194 2204   Oligocene   V - 1   Shell   Sedco 445 Sedco 599 4094   Albian   RAS EL BAIDA - 1   Hispanoil   Discover Seven Seas 1109 5007   Senonian   COPPOLANI - 1   Mobil   Nedrif - 1   335 3660   Senonian   AUTRUCHE - 1   Texaco   lle du Levant   277 4436   Aptian   LOUP DE MER - 1   Amaco   Nymphea   175 5002   Late Jurassic   Islamic Republic of Mauritania

Islamic Republic of Mauritania WELL OPERATOR RIG / DRILLSHIP WATER DEPTH Total Depth FORMATION   m  m Chinguetti - 1 Woodside Scarabeo 7 ~ 800 2620 Miocene Courbine- 1 ~ 1200 4452 Maastrichtioan Chinguitti - 4 - 2 Deepwater 2655 Discovery Chinguetti - 4 - 3 ~ 500 2608.5 ( Banda ) Chinguetti - 4 - 4 2986.4 ( appraisal ) Chinguetti - 6 - 1 ? 3294 ( Thon ) Chinguetti - 4 - 5 Glomar Jack 2605 ( appraisal & test ) Ryan Chinguetti - 4 - 6 West Navigator 2870 ( Tiof ) Chinguetti - 5 - 1 3285 ( Poune ) Chinguetti - 4 - 7 ~ 1400 2991.2 ( Tiof West ) Pelican - 1 Dana ~ 1700 3825   Tanit - 1 IPG  IDECO 1700 onshore 4200 Islamic Republic of Mauritania

Islamic Republic of Mauritania WELL OPERATOR RIG / DRILLSHIP WATER DEPTH Total Depth FORMATION   m  m Dorade - 1 Woodside Stena Tay 1671.3 2660 Miocene West Navigator Capitaine - 1 1682.3 2625 Capitaine - 1 A 1685.6 3130 Tevet - 1 489.8 2715 Merou - 1 1775.6 3060 Tiof - 3 st2 1199.1 2980 Tiof - 4 993.2 2908 Tiof - 5 1165.3 3010 Tiof - 6 823.6 2963 Chinguetti - 8 st1 739.3 2956.3 Chinguetti - 9 741.3 3396 Islamic Republic of Mauritania

Stena Tay / West Navigator WELL OPERATOR RIG / DRILLSHIP WATER DEPTH Total depth FORMATION   m  m Chinguetti - 10 st1   Woodside   Stena Tay 765.3 3146 Miocene West Navigator Chinguetti - 11 st1 Stena Tay / West Navigator 3145 Chinguetti - 12 st1 2743 Chinguetti - 13 780.6 3130 Chinguetti - 14 st1 819.6 3168 Chinguetti - 15 820.3 3141 Chinguetti - 16 780.3 2672 Chinguetti - 17 2449 Islamic Republic of Mauritania

Coastal Basin Blocks: Ancient wells Islamic Republic of Mauritania

Cross section of the coastal basin Islamic Republic of Mauritania

Taoudeni Basin * 16 PSC: Ta7 and Ta8 ( Total) Surface: 500,000 km2 Regional geological study: SAP - 1957 Seismic acquired: 2D - 6268 km (1972-73) wells drilled: 2 Abolag-1 (Texaco- 1974) Ouasa-1 (AGIP-1975) Oil & Gas Shows: Abolag-1 recorded 480,000 scf (13,600 cu m) of gas per day Contracts Signed: * 16 PSC: Ta7 and Ta8 ( Total) Ta 11 & 12 (BMV), Ta13 andTa21 (CNPCIM), Ta9 andTa10 (REPSOL), Ta5 andTa6 (WINTERSHALL), Ta29 (Zaver),….. Islamic Republic of Mauritania

The Interior Taoudenni basin: Main features and Seismic acquisition Islamic Republic of Mauritania

Cross section of the two wells in the Taoudenni basin Islamic Republic of Mauritania

Taoudeni Basin, Geological Prospectivity Presence of the Silurian and Infracambrian Source rocks is proved, The Mid infra-Cambrian and the Ordovician reservoirs are confirmed by Abolag-1 Carbonates and Clastics, The Mesozoic to recent seals are present, Abolag-1well has shown the Hydrocarbons system works quite good in the Basin. Islamic Republic of Mauritania

Islamic Republic of Mauritania

Legal Framework Petroleum Law established by Ordinance in 1988, Model PSC adopted in 1994, The PSC is approved by Law, A Law related to deemed fiscal regime for Service Providers has been adopted in 2004. Islamic Republic of Mauritania

PSC Framework Bonusses: PSC Signature/ Production Annual Training budgets, Cost Recovery: Negotiable, Production Splits: Negotiable Exploration Period: 3 Terms: up to 9 years Relinquishments: - 25% of Initial Acreage at first renewal - 50% of Initial Acreage at second renewal Production period: 3 Terms: up to 45 years (Initial Term of 25 years) Tax rate: Flexible (25 to 30%) Import/Export taxes: 0 Ultra-deep water terms: open Islamic Republic of Mauritania

Existing Contractors Energem: Block 18 Zaver: Ta29 WOODSIDE MAURITANIA: Blocks 2, 3, 4, 5 & 6, DANA : Blocks 1, 7 & 8 Energem: Block 18 IPG: Block 11 TOTAL : Ta7 & Ta8 CNPCIM : 12, Ta13 &Ta21 BARAKA /WOODSIDE:Ta11 & Ta12 BRIMAX & CNPCIM : Block 20 REPSOL: Ta9 &Ta10 WINTERSHALL: Ta5 &Ta6 Zaver: Ta29 ASB,Blue Chip ,4M Energy, Hi Tech and Global Steel: Islamic Republic of Mauritania

Current Activities The production capacity of up to 75000 bbls/day from Chinguetti but encountering reservoir connectivity pbs Preparation of drilling Campaigns with Woodside, Dana CNPCIM Preparation of seismic survey with Repsol after completion of the one for Total, IPG undertook an aeromagnetic survey prior to seismic survey, ALTHANI achieved the interpretation of the existent seismic in block 19 CNPCIM seismic survey interpretation completed over blocks 20 and 12 CNPCIM and Repsol will acquire as soon as possible aerial geophysical surveys over Taoudeni. Islamic Republic of Mauritania

Summary « Cheikhna Ould Ahmed Ould El Yass" The hydrocarbon potential of Mauritania remains under explored, Oil & gas source rocks, reservoirs, seals are present in both basins, Sedimentary basins thickness is up to 9 km and the limited available data show the presence of interesting prospects, Strong will to set up political and social stability with good governance as well as offering advantageous PSC & Fiscal terms are meant to welcome interested investors. Please feel free to contact me for further information at: « Cheikhna Ould Ahmed Ould El Yass" Minister of Petroleum and Mining P O Box 4921 Nouakchott-Mauritania E-mail: caelyass@petrole.gov.mr Website: www.petrole.gov.mr Tel +222 525 95 15 Fax +222 525 52 50 Islamic Republic of Mauritania