Financing Ask: $300 million (Debt/Equity)

Project Objectives:

• Asset Acquisition:
  Acquire 49% working interest in offshore OML 119 from NEPL, a high-quality oil and gas asset with strong production potential.
• Production Enhancement:
  Increase production capacity by investing in wells and infrastructure improvements.
• Cost Optimization:
  Reduce operational expenses through synergies with nearby OML 151.

Project Details:

• Location: Southeastern Niger Delta, 50 km offshore.
• Current Production: 10,500 bopd, with potential to increase significantly.
• Development History: Started in 2001, production peaked at 60,000 bopd in 2006.

Financial Overview:

• $100 million acquisition price; balance amortized through production revenue.
• $300 million investment to sustain base production and develop new capacity.