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FARM-IN OPPORTUNITY – TARFAYA OFFSHORE BLOCK

MAY 2012

Farm-in Opportunity: Tarfaya Offshore Block4,335 MMbbls P50 STOIIP / 867 MMbbls P50 RecoverableTangiers Petroleum Limited (“Tangiers”) has engaged Macquarie Tristone to secure a co-venturer seekinga portion of its 75% interest in the shallow-water Tarfaya Offshore Block, offshore Southern Morocco.This divestiture will be by means of a leveraged work programme carry on one or more exploration wells

Summary

867* MMbbl recoverable at P50

4 primary Jurassic prospects

Volumes independently verified by NSAI Ltd

Tangiers’ Tarfaya Block Location

NSAI Ltd

Additional prospectivity in Cretaceous and Triassic reservoirs

1 commitment well by 2014, targeting multiple objectives

N 3D d t i d i 2012New 3D data acquired in 2012 over this area

15,041 km2 of acreage

3 of the 4 wells drilled have oil shows

* Total arithmetic addition of P50 prospective resources

Tangiers’Tarfaya Block

Prospect InventoryProspect Map

ProspectP50 Unrisked

STOIIP(MMbbls)

Trident 2,115

TMA 956

Assaka 718

Stacked horizons: potentially drilled with a single well

MACQUARIE TRISTONE TANGIERS PETROLEUM LIMITED MAY 2012 PAGE 1

Assaka 718

La Dam 546

SUMMARY OF TANGIERS’ ACREAGE

AssetTangiers’

Operator Co-venturer StatusLicence Licence

AssetInterest

Operator Co venturer StatusStart Expiry

Tarfaya Permit

75% TangiersONHYM (25%*)

Exploration3 December

20093 December

2017

*Moroccan government, carried through to effective date of Exploitation Concession

Tarfaya Block has 4 primary prospects matured in proven Jurassic fairway

— Three prospects (Trident, TMA and Assaka) are stacked horizons

— Potentially drilled with a single well

— La Dam prospect is drill-ready

Overview

Many leads identified in the Cretaceous, Tertiary and Triassic

Newly acquired (2012) 3D data over largest prospects

— Will be processed by mid to late 2012

3 out of the 4 wells in the Block have hydrocarbon shows

Licence covers large area – 15,041 km2

Under-explored block with only 1 well per 3,760 km2

— Last well in the area was drilled in 1990 (last well on the permit drilled in 1984)

8 year permit term, 6 years remaining

Reprocessed 2D and 3D data (2011) also available

Benign environmental conditions for operations

Summary of Work Obligations

Water depth less than 200m

Excellent fiscal terms

Low sovereign risk

Morocco is net importer of oil and pays market price for oil

Length Work ProgrammeMinimum

Expenditure(‘000 US$)

Status

InitialReprocess 250 km existing 2D seismic

Work Complete

Summary of Work Obligations

Initial Period

2.5 Years Acquire & interpret 500 km2 3D seismic

Geological and Geophysical studies

$3,500Work Complete

Expires Aug. 2012

First Extension Period

2 Years Drill 1 well $20,000


Second Extension Period

3.5 YearsAcquire and interpret 500 km2 3D seismic

Drill 2 wells$40,000 +

seismic cost

VOLUMETRICS – PROSPECTS AND LEADSVolumetrics independently certified by NSAI (2011)

Prospects – In Place and Prospective Resources (MMbbls)

Key risk is reservoir presence /quality

Possibility of drilling Trident, TMA and Assaka prospects with one well

Prospects – In Place and Prospective Resources (MMbbls)

Unrisked STOIIP(MMbbls)

Unrisked Recoverable Oil(MMbbls)

Prospect P90 P50 P10 P90 P50 P10

Trident 853 2,115 5,273 85 423 2,109

TMA 289 956 3,262 29 191 1,305

Assaka 258 718 1,990 26 144 796

La Dam – U to M Jurassic 163 545 1,874 16 109 749

Arithmetic Total 1,564 4,335 12,399 156 867 4,959

Leads – In Place and Prospective Resources (MMbbls)

Note: arithmetic total may not sum to total due to rounding

Leads In Place and Prospective Resources (MMbbls)

Unrisked STOIIP(MMbbls)

Unrisked Recoverable Oil(MMbbls)


La Dam MJ5 34 84 210 3 17 84

La Dam LJ2 40 90 203 4 18 81


Arithmetic Total 74 174 413 7 35 165

WELL DATABASE

MO 2 drilled in 1969 by Esso

Oil has been recovered from three wells near the permit, MO-2, MO-8 and Cap Juby-1:

MO-2, drilled in 1969 by Esso, tested 2,377 barrels per day of 10-12 degree API gravity oil in the Upper Jurassic

MO-8, drilled in 1972, recovered 12 gallons of 38.5 degree API oil from a deeper interval in thefrom a deeper interval in the Middle Jurassic

Cap Juby-1, drilled by Mobil in 1984, recovered 5 barrels of oil (10.5 degree API) from the Upper Jurassic

Within the permit, MO-1A, MO-4 and Tan Tan-1 had oil shows in Cretaceous sandstones and Jurassic carbonates

Drilling Results in Tarfaya AreaDrilling Results in Tarfaya Area

Well Date Operator TD Target Result

MO-1A 1968 Esso 2,759 U. Jurassic LstDead oil in Lwr. Cret and U. JurGood phi Cret

MO-2 (Cap Juby Field)

1969 Esso 2,983 U. Jurassic Lst Tested 2,377 bbl 10-12 API oil(Cap Juby Field)

MO-3 1969 Esso 2,187 Lwr. Jurassic LstOil and gas shows in Cret and U-M JurDrilled on salt dome

MO-4 1969 Esso 3,464M. Jurassic Clastic/Lst

U. Jur oil stained core, gas shows

MO-5 1969 Esso 2,485 U. Jurassic LstGood Phi in Lwr. Cret and U Jur, Jur bit drop + lost circ. Poss. gas showsp g

MO-6 1969 Esso 3,661Lwr. Cretaceous Clastic

Shows in Lwr. Cretdrilled off structure

MO-7 1970 Esso 4,319 U. Jurassic ShaleDead oil in Lwr. Cret, good phiJur reservoir not penetrated

MO-8 (Cap Juby Field)

1972 Esso 3,829 M. Jurassic LstTested 12 gallons of 38 API oil from M. Jur Lst. Oil and gas shows in Ter, Cret

Haute Mer-1 1975 Esso 3,292Lwr. Cretaceous Shale

Targeted Lwr. Cret reservoir on flank of salt structure

Cap Juby-1 1984 Mobil 4,798 Triassic Evaporite/LstOil stained cuttings Lwr. and M. JurTraces of oil (5 bbls est.) in DST (10.5 API)

Tan Tan-1 1984 Amoco 5,069 Lwr. Jurassic LstTraces of Dead oil in Lwr. Cret No reservoir facies or closure


Tarfaya-1 1990 Walter Int. 3,006 U. Jurassic LstOil Shows in U. Jur and Tertiary, 100m sand 10-18% phi, no closure

Chebika-1 1962 Shell 4,200 TriassicOnshore well. Triassic gas showsLimited data available

Extensive seismic data coverage to mature prospects and leads into drill site opportunities

R l l d 20 2 3D i i i f 680 k 2 T id d A k P

SEISMIC DATABASE

Recently completed 2012 3D acquisition of 680 km2 over Trident and Assaka Prospects

— Currently being reprocessed, available in mid-2012

580 km2 of 2006 vintage 3D seismic (reprocessed by Fugro in 2011) covers La Dam Prospect –good quality data

12 500 line km of existing 2D seismic (2 813 km reprocessed by Fugro 2011 good quality data)12,500 line km of existing 2D seismic (2,813 km reprocessed by Fugro 2011 – good quality data)

Legacy 2D / 3D Database

Operator Year Location Length / Area

Esso 1967 – 1976 Tarfaya 4,000 km

Merlin Geophysical (Merlin) 1983 Tarfaya 2,700 km

2D

Mobil 1983 Tarfaya 2,735 km

Shell 1991 Tarfaya 1,554 km

ROC 1998 Foum Draa Maritime 620 km

ROC 1999 Foum Draa Maritime 829 km


Maersk 2004 Tarfaya Shallow 7,056 km

3DMaersk 2006 (Reprocessed 2011) La Dam 580 km2

Tangiers 2012 Assaka and Trident 680 km2

GEOLOGICAL SETTING

Atlantic margin basinAtlantic margin basin

Triassic intercontinental rifting

Evaporites in early syn-rift sediments

Open marine in Early JurassicOpen marine in Early Jurassic

Anoxic conditions in half graben depocentres provided good conditions for the accumulation of high quality source rocks

Jurassic post rift subsidence enabled thick platform carbonates, fringing reefs and shoals which were eventually buried by a prograding deltaic sequence

The Lower Cretaceous deltaic sequence was eventually drowned by a major transgressive event –providing a regional seal

An erosional unconformity truncates the Palaeocene and Cretaceous sediments at the shelf edge


— Only at Cap Juby – to the north the Cretaceous extends into the basin

Tertiary clastics infill the erosional canyons and provide ~1 km of overburden

STRATIGRAPHY AND PLAY CONCEPTS

Cap Juby Field, 20 km to the west of the permit, proves there is a working hydrocarbon system in Jurassic Carbonates

Tertiary and Cretaceous clastic potential reservoirs seen in a number of wells within permit – porosities 15 to 30% from log data

Shows encountered in 3 of the 4 wells drilled within the permitwithin the permit

Traps are mostly simple 4 way dip closures –stratigraphic potential also exits in Cretaceous deltaic, nearshore and turbidite sands


1,260 km2 of new and recently reprocessed 3D seismic available to delineate existing structures and map new plays

NSAI Prospective Resources (MMbbl)

TRIDENT PROSPECT

Unrisked STOIIP Unrisked Recoverable Oil


Trident 853 2,115 5,273 85 423 2,109

Reservoir:

Middle Jurassic, Bathonian 5, reef or grainstone shoal lithology, not penetrated by wells but inferred from seismic character

Li b l A k t d bLies below Assaka prospect and can be tested by same well

Trap:

4 way dip closurey p

Areal extent of 293 – 704 km2

(low estimate – high estimate)

Seal:

Top Middle Jurassic Depth Structure Map

Callovian-Oxfordian shales and tight Lst

Target Depths:

3,000 – 3,600m

Key Risks:

Reservoir development and quality, seal, migration



TMA PROSPECT



TMA 289 956 3,262 29 191 1,305

Reservoir:

Lower Jurassic, Toarcian 7, reef core concordant with overlying Assaka Structure (could be tested with same well)

Th i i th i i l l J iThe reservoir is the original lower Jurassic reef system that developed after the establishment of the marine conditions following the break-up (i.e Toarcian 7 Horizon)

Trap:

4 way dip closure


(low estimate – high estimate)Top Lower Jurassic Depth Structure Map

Seal:

Callovian shale (Middle Jurassic)

Target Depths:

3,900 – 4,600m

Key Risks:

Porosity preservation, seal, migration



ASSAKA PROSPECT



Assaka 258 718 1,990 26 144 796

Reservoir:

Upper Jurassic, Kimmeridgian 5, fore-reef and reef core

TTrap:

4 way dip closure


(low estimate – high estimate)

Seal:

Tight Lst and shale of Cret-Jurassic age (as in Cap Juby Field)

Top Upper Jurassic Depth Structure Map

Target Depths:

2,700 – 2,800m

Key Risks:y

Porosity, seal, migration



LA DAM PROSPECT



La Dam – U to M Jurassic 163 545 1,874 16 109 749

Top Upper Jurassic Depth Structure Map

Reservoir:

3 potential reservoir horizons, Upper Jurassic reef, Middle Jurassic grainstone stratigraphic play (Bathonian), and Lower Jurassic (Toarcian) reefs and grainstone shoal /reef talus, 4 way dip closure

Trap:

Structural and stratigraphic


(best estimate – high estimate)

Seal:

Intra-formational Jurassic and Lowest CretaceousLowest Cretaceous

Target Depths:

3,000 – 5,500m

Column heights of 100 – 570m

Prospect is ready to drill


Key Risks:

Porosity preservation, seal, migration

Deal StructureT f Off h Bl k h ld b T i ’ 100% d b idi DVM I t ti l Li it d SARL

DEAL STRUCTURE AND ACTIVITY PLAN

Tarfaya Offshore Block held by Tangiers’ 100%-owned subsidiary, DVM International Limited SARL

Tangiers seeks a co-venturer willing to:

— Reimburse historic expenditure

— Fund a forward exploration programme on a leveraged basis

— Work programme to be proposed by the farminee

— One or more exploration wells

— Possibly further 3D

Tangiers is willing to assign a significant equity stake

Envisaged Forward Plan

— Percentage to be proposed by farminee

— Operatorship available

Post transaction the joint venture will finalise well planning and contract a drilling rig

The first exploration well is expected to be drilled by the end of 2013

— Licence commitment requires drilling during the First Extension Period (before August 2014)

First Extension Period Second Extension Period

2012 2013 2014 2015 2016 2017

Interpret 2012 3D Seismic

Well Location Planning (La Dam)

Well Location Planning (Trident, TMA, Assaka)

Drill Exploration Well #1

Possible 3D Acquisition



p


FOR FURTHER INFORMATION

Acquisitions &

PROCESS INFORMATION

Confidentiality Agreement Final OffersAcquisitions & Divestitures

ANDREW JONESHead of EMEA A&DBusiness: +44 (0) 20 3037 [email protected]

■ Download at www.macquarietristone.com

Evaluation Materials■ Will be available in a Virtual Data

Room

■ Available mid May 2012

■ Due early July 2012

■ Exact date to be advised

Additional Questions and Inquiries■ Submit to

maccap bogart@macquarie com

JEFFREY AULDManaging Director, Oil & GasBusiness: +44 (0) 20 3037 [email protected]

■ Available mid May 2012

■ Paul Weidman will contact you to supply access after receipt of a signed Confidentiality Agreement

Physical Data Room■ Located in London, United Kingdom

[email protected]

This timetable is subject to revision at any time at the discretion of Tangiers and Macquarie Tristone. Interested parties who have executed the Confidentiality Agreement will be

PAUL WEIDMANAnalystBusiness: +44 (0) 20 3037 [email protected]

■ Open mid June 2012

■ Paul Weidman will contact you to schedule a Data Room appointment after receipt of a signed Confidentiality Agreement

notified of any changes to this timetable.

NO COMPANY PERSONNEL MAY BE CONTACTED DIRECTLY WITHOUT THE PRIOR KNOWLEDGE AND APPROVAL OF MACQUARIE TRISTONE UNDER ANY CIRCUMSTANCES.

About Macquarie TristoneMacquarie Tristone has completed more than 300 energy asset packages valued at over US$35 billion since 2001. As a leading AcquisitionMacquarie Tristone has completed more than 300 energy asset packages valued at over US$35 billion since 2001. As a leading Acquisitionand Divestitures (A&D) team, it provides advisory services in energy asset transactions worldwide to a range of clients in the oil and gasindustry. With a sophisticated suite of asset divestment processes, coupled with superior senior-level industry relationships, MacquarieTristone brings together an unparalleled combination of disciplines in engineering, geoscience and economics. Macquarie Tristone’s specialistA&D professionals work within the Macquarie Capital division of Macquarie Capital (Europe) Ltd., the Macquarie Group’s corporate advisoryand capital markets division. Macquarie Tristone’s expertise extends across all phases of the disposition process, including deal strategy,financial and value analysis, technical evaluations, buyer identification and qualification, and other deal-related logistics. Combined with theMacquarie Group’s global resources activities, the result is a seamless, integrated offering, providing top-tier financial and executionexperience with superior, specialist technical expertise.

DisclaimerThis document is provided for information purposes only and does not constitute and shall not be deemed to be in any way an offer or invitation or solicitation of any offer or invitation to sell or purchase shares in Tangiers Petroleum Limited (the “Company”) and/or any of its subsidiaries. This document has not been filed, lodged, registered or approved in any jurisdiction and recipients of this document should keep themselves informed of and comply with and observe all applicable legal and regulatory requirements. Macquarie Capital (Europe) Limited (“Macquarie”) does not make or give any representation, warranty or guarantee, whether express or implied, that the information contained in this document or otherwise supplied by or on behalf of Macquarie to an interested party (“Information”) is complete or accurate or that it has been or will be audited or independently verified, or that reasonable care has been or will be taken by them in compiling, preparing or furnishing the Information. Macquarie does not accept any responsibility to inform any interested party of any matter arising or coming tocompiling, preparing or furnishing the Information. Macquarie does not accept any responsibility to inform any interested party of any matter arising or coming to their notice, which may affect any Information provided to an interested party. This document contains estimates and forward looking statements. All estimates and forward looking statements are subject to uncertainty and unexpected events, many of which cannot be anticipated or controlled. Accordingly, actual results are likely to differ from the estimates and forward looking statements, and the differences may be material. The document may not be relied upon in any way by the interested party in assuming any contractual or other obligation or liability in relation to an acquisition of the Company or otherwise. This document is provided on the basis that the interested party should not treat this document as advice relating to legal, taxation or investment matters and will carry out its own independent inquiries and assessment of the Information and makes its own independent decisions about the evaluation of the investment opportunity. Macquarie does not accept any responsibility for any inference, interpretation, opinion or conclusion that an interested party may draw from the Information. This document is issued by Macquarie Capital (Europe) Limited (“MCEL”). MCEL is authorised and regulated by the UK Financial Services Authority. This document is only being distributed to and is only directed at investment professionals, as defined in article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, who have professional experience in matters relating to investments. The transmission of this document to any other person in the UK is


unauthorised and may contravene the Financial Services and Markets Act 2000. No person within the UK who is not a person with professional experience in matters relating to investments as referred to above should treat this document as constituting a promotion to him or rely on it for any purposes whatsoever. Macquarie Capital (Europe) Limited is not an authorised deposit-taking institution for the purposes of the Banking Act 1959 (Commonwealth of Australia), and its obligations do not represent deposits or other liabilities of Macquarie Bank Limited ABN 46 008 583 542. Macquarie Bank Limited does not guarantee or otherwise provide assurance in respect of the obligations of Macquarie Capital (Europe) Limited.

Morocco has an attractive fiscal regime relative to other North African oil and gas producing countries

APPENDIXFISCAL REGIME

Tax:

35% Corporate Tax

— 10 year tax holiday on each discovery, starting from date of first production

All i t t i l d t d i b i t d & d b C d llAll equipment, material, products and services can be imported & used by Company and all Contractors with no customs duties or VAT

No business activity tax or VAT/GST and reduced urban taxes during production

Profits and dividends exempted from tax on income from shares, capital rights, etc. and are freely transferable outside Morocco

Transfer of net proceeds from asset sales is guaranteed for foreigners

Royalties:

Less than 200m water depth – oil 10%, gas 5%

Beyond 200m water depth – oil 7%, gas 3.5%

The first 300,000 tons of oil production is exempt, plus the first 300 million cubic meters of gas production

Land Rental:Land Rental:

Exploration permit – 1000 Dirham application fee (US$120) payable initially and when applying for an extension

Exploitation Permit – 1000 Dirhams per km2 per year


Location of Basin During Start of Atlantic Opening Drift Phase

BASIN SETTING

APPENDIX

Stages of Basin Rifting and Sediment FillStages of Basin Rifting and Sediment Fill


Regional Cross Sections

REGIONAL GEOLOGY

APPENDIX

A0200040006000 D

epth

(m)

B

8000

020004000

pth

(m)

Location of sections marked in yellow In schematic paleogeography map below

60008000

Dep

Schematic Paleogeography Map of Region

AB


STRATIGRAPHY AND PLAY CONCEPTS (2)

APPENDIX

Jurassic carbonate play fairway de-risked by Cap Juby oil discovery to the west of Tangiers’ Block

Working petroleum system seen throughout permit, oil seeps and onshore oil shale mine

4 four way closure prospects in J i b t l f iJurassic carbonate play fairway (e.g. Trident, Assaka)

2 prospects targeting Upper Jurassic fractured dolomite play (e.g. Zeus, Little Zeus)


Multiple Triassic, Cretaceous and Tertiary clastic leads yet to be fully evaluated

Formation Porosity % Wells

POTENTIAL RESERVOIRS

APPENDIX

Tertiary Sandstones 30 MO-7, LY-8-2, Souss-1

Lower Cretaceous Sandstones 25 MO-7, 15A-1. DSDP-416

Upper Jurassic Limestones 25 MO-5, AGM-1

Lower / Middle Jurassic Carbonates and Clastics

15 TT1, MO-8, ESR-1, Fuerteventura

Basal Tertiary Potential ReservoirBasal Tertiary Potential ReservoirMajor tertiary channelling and hi-amplitude supported sands on Base tertiary unconformity, pinching out up-dip

Lower Cretaceous Deltaics and Deeper Turbidite and Fan PlayReservoir: Marine sandstones of Cretaceous Tan-Tan Fm.

— 15A-1: 88m net sandstone with an avg. ø of 20%

— 15A-1: 287m with an avg. ø of 15%

— MO-7: 100m net sandstone with an avg. ø of 20%

Seal: Marine shales in Tan-Tan Fm.

Trap: Structural closure

Source: Lower Jurassic lagoonal carbonates

Mi ti V ti l th h J iMigration: Vertical through Jurassic

Upper Jurassic Reservoir (Cap-Juby)Reservoir: Oolitic bars or reefs at shelf edge

Seal: Marine shales of Tan-Tan Fm.

Trap: Structures, both drilled (Cap Juby discovery)

Source: Lower Jurassic carbonates (lagoonal or pelagic)

Migration: Lateral

History: One discovery – Cap Juby

Middle Jurassic ReservoirReservoir: Oolitic bars or reefs at shelf edgeReservoir: Oolitic bars or reefs at shelf edge

Seal: Flooding surface at top Middle Jurassic

Trap: Large four-way dip closed trap mapped

Source: Lower Jurassic carbonates (lagoonal or pelagic)

Migration: Lateral

History: Oil in MO-8, but flowed at very low rate


Lower Jurassic Potential ReservoirOolitic reefs and shoals at shelf edge, sealed by Tan-Tan marine shales

POTENTIAL RESERVOIRSUPPER JURASSIC WELL PENETRATIONS

APPENDIX

Carbonate interval from top Jurassic to TD in Upper Jurassic at 2,485m

Lost circulation from 1,916m to TD

Gas show at top of reservoir

Spotty core recovery due to severe drilling problems and drill bit drops

Core and seismic shows karstification in upper 250mkarstification in upper 250m

Reef Facies

Shoal, Near-Shoal/Reef Facies

Grainflat FaciesGrainflat Facies

Lagoon Facies

Carbonate interval from Top Jurassic to TD in Upper Jurassic at 3,006m

No losses reported

No shows

Cuttings and well logs show 12% - 18% porosity in ooid shoal facies

Shoal Facies

Near-Shoal/Reef Facies

Grainflat Facies

Lagoon Facies


Lagoon Facies

POTENTIAL RESERVOIRSJURASSIC WELL PENETRATIONS

C J b 1

APPENDIX

Cap Juby-1

Reef

Near Reef/Shoal

Shoal

Grainflat

Lagoon

Basin

Clastic

Jurassic carbonates penetrated by wells:

Reservoir Development

Tarfaya-1: 18% porosity in oolitic limestone layers in Upper Jurassic

MO-2: total mud losses and 3,000 bbl/d flow rate from Upper Jurassic

MO-8: vugs and fracturing observed in core and were associated with mud losses during drilling – karstification

MO-5: total mud losses, higher porosity zones associated with vugs and fractures and observation of plant remains in upper 40m of Upper Jurassic – all indicative of karstification

Indications of reservoir development as:

Karstification of reefal facies at shelf edge


g

Oolitic shoals at shelf edge (Bahamas analogue)

Source Rock Intervals Encountered Within or Close to Block

SOURCE ROCKS

APPENDIX

Formation TOC % Well Kerogen Type

Tertiary 4.6 MO-2 II-III

Upper Cretaceous Shales

and Marls

3.96

19

MO-6, MO-7

Tarfaya Oil ShaleII-III

Upper Jurassic Limestone 0.8 II-III

Lower Jurassic Limestone 2.49 Tan Tan-1 II-III

Source: Maersk Oil /ONHYM

Major Jurassic source-prone intervals


Source Potential DSDP Leg 79 547 – Basin Setting

V i ti f O i C b V l t DSDP 547

SOURCE ROCKS (2)

APPENDIX

Variation of Organic Carbon Values at DSDP 547

Good Jurassic source potential500 km from licence area500 km from licence area

Ifni-1: 3.36% TOC in Lower Jurassic (one sample only) (200 km from Tarfaya Offshore Block)

Oxfordian source locally developed in the Essaouira Basin (Toukimt-201 well, 10m with 0.5 –4.3% TOC, TKM-1 1.39% TOC), areal distribution not defined, otherwise low TOC values in Essaouira Basin (300 km from Tarfaya Offshore Block)

DSDP Leg 79, site 547, 23m of nodular limestone and black shale, maybe 5m of TOC >6% (500 km from Tarfaya Offshore Block)

Rif, Middle and High Atlas inverted basins contain Liassic source rock with up to 10% TOC

Eastern Atlantic Coast, Morocco to Portugal

Bou Draa field in Pre-Rif / Rharb Basin of northernmost Morocco is sourced from unspecified Jurassic source (900 km from Tarfaya Offshore Block)

Source potential in several Jurassic intervals in Lusitania Basin(s) along the coast of Portugal


Source potential in several Jurassic intervals in Lusitania Basin(s) along the coast of Portugal (up to 3% TOC and up to 18% TOC, respectively, in two different stratigraphic levels)

Oil and Gas Discoveries

WELL DATABASE (2)

APPENDIX

Wells Shows ˚ API Stratigraphy

MO-6 Dead Oil - L. Cretaceous

MO-7 Dead Oil - L. Cretaceous

Cap Juby 1 Oil 10 5 U JurassicCap Juby-1 Oil 10.5 U. Jurassic

MO-2 Oil 12 U. Jurassic

MO-3 Oil & Gas - U. Jurassic

MO-4 Oil & Gas - U. Jurassic

Tarfaya-1 Oil - U. Jurassic

MO-8 Oil & Gas 38 M. Jurassic

Tan Tan-1 Dead Oil - M. Jurassic

Chebika-1 Gas - Triassic


Production Tests / Shows

WELL DATABASE (3)

APPENDIX

UJMJ

Cap Juby TestsMO-2: 2,370 bbl/d 12° API oil UJMO-8: 12 gals 38° API oil MJ


DIP LINES OVER PROSPECTS (1)

APPENDIX

Line TS04-156

Line TS04-164



APPENDIX

Line TS04-168

Line TS04-142



APPENDIX

Line TS04-126

Line TS04-136


MO-4 Well Tie to Seismic Line TS04-220

APPENDIXDIP LINES OVER PROSPECTS (4)

NW SE

Tantan

MO-4

Berriasian 1

Kimmeridgian 5

Bathonian 5

Bathonian 1

Downlap Surface

Toarcian 7

TD: 3464m, Middl J iMiddle Jurassic


STRIKE LINES OVER PROSPECTS

APPENDIX

Line TS04-123 SW NE04TS-136 04TS-156 04TS-164 04TS-170 04TS-178

Berriasian 1

SW

83MMO-05 83MMO-03

Bathonian 5

Kimmeridgian 5

Bathonian 1

Toarcian 7

Downlap Surface

La Dam Assaka

Line TS04-125

La Dam Assaka

SW NE04TS-136 04TS-156 04TS-164 04TS-170

83MMO-05

04TS-178

83MMO-03

Berriasian 1

Kimmeridgian 5

Bathonian 5

Bathonian 1

Downlap Surface

Toarcian 7


La Dam Assaka

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