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Corporate Documents

Competent Persons Report on Otakikpo Marginal Field

AGR TRACS International Ltd carried out a comprehensive review of the surface and subsurface data provided by Lekoil. Following the review, AGR TRACS reported that the gross unrisked 2C Contingent Resources for Otakikpo were estimated to be 56.75 mmbbl. This compares to the 36 mmbbl of gross oil resources in the most recent 2C resource estimates available at the time of the Company’s acquisition of the interest in Otakikpo in May 2014 through Lekoil Nigeria’s wholly owned subsidiary Lekoil Oil and Gas Investments Limited.

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