Gas & Power

OANDO GAS & POWER

(5th Floor)

2, Ajose Adeogun Street,

Victoria Island

Lagos, Nigeria

Tel: 234-1-2702794

Fax: 234-1-7912295

www.oandoplc.com

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To harness energy resources for

the benefit of all stakeholders

Vision

To be the leading and most innovative

energy company in our chosen market

Mission

Background

Oando Gas & Power Limited

We pioneered the private sector piping and distribution of natural gas to industrial and commercial consumers.

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Oando Gas & Power is the management company for all the subsidiary companies operating in the gas & power division.

Our Strategic Focus

• Aggressively create Nigeria's domestic gas grid and leverage the infrastructure to be the dominant local and regional gas and power provider

• Replicate the success recorded in Greater Lagos natural gas distribution in other parts of Nigeria and West Africa

• Make significant investments in infrastructure that assure reliable supply of natural gas e.g. high pressure transmission pipelines, gas processing facilities on the back of the Gas Master Plan

• Expand horizon in independent power generation to captive industries in locations where we have gas infrastructure and E&P assets

The subsidiaries include the following:

�? Gaslink Nigeria Limited �? Akute Power Limited�? East Horizon Gas Company Limited �? Gaslink Ghana

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Gaslink Nigeria Limited is an indigenous company established to promote the distribution and utilization of natural gas in Nigeria. The company, a subsidiary of Oando PLC, is operating a 20 year Gas Sale and Purchase Agreement (GSPA) with the Nigeria Gas Company. Gaslink is the pioneer, and one of the few companies in Nigeria involved in the piping and distribution of natural gas to industrial, residential and commercial consumers.

Motivated by the vision to be the leading energy company in its chosen markets, Gaslink bundles various capabilities acquired from years of experience in delivery of natural gas to a broad spectrum of end users. This way, it offers complete energy solutions to its customers with a commercially attractive bottom-line.

Having constructed a pipeline network from the Nigerian Gas Company (NGC) city gate to cover Ikeja and the Greater Lagos Area, Gaslink currently supplies natural gas through its 100km pipeline in Lagos to about 90 industrial customers. At present, our distribution network has the combined capacity to deliver 82mmscf/d (million standard cubic feet per day).

Gaslink Nigeria Limited

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Gaslink Distribution Network

�The 10km Ikeja IA pipeline was commissioned on the 9th of March 2001. Over 36 companies are connected.

�The 4.2km Ikeja IB pipeline was commissioned on the 25th Oct, 2002.. 6 companies are connected

�The 84 km GLII gas distribution pipeline network designed to deliver gas from City Gate to Ojota, Ilupeju, Matori, Isolo, Amuwo Odofin, Iganmu and Apapa. was commissioned on the 27th May 2004

�The 38km GLIII pipeline was commissioned in Q2 2009, and traverse from Ikeja to Apapa, Tin-Can Island and Amuwo-Odofin

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East Horizon Gas Company (EHGC)

The company is a special purpose vehicle set up to Develop, Finance, Construct and Operate a gas transmission pipeline linking the Calabar Cluster of Industries to the Nigerian Gas Company (NGC) grid in Akwa Ibom state. The $125m project, involves the construction of an 18inch by128 kilometer (km) gas pipeline through forest, swamps and built up areas. Upon completion, the project which has the total capacity of 100million standard cubic feet per day (mmscfd) will deliver 22 million standard cubic feet per day (mmscfd) of gas to its primary customer, the United Cement Company of Nigeria Limited (UNICEM).

UNICEM is a joint venture company set up by Flour Mills Nigeria, Orascom Industries and Holcim International to build a $350million Cement plant in Calabar with a production capacity of 2.5million metric tonnes per year. The primary fuel for the plant will be Natural Gas, supplied by EHGC and sourced from the Nigerian Gas Company (NGC). The Federal Government and the Nigeria National Petroleum Corporation (NNPC) have given their approval for the gas supply project on a Build Operate and Transfer (BOT) basis with NGC. The gas supply project includes construction of a gas supply line from the existing Obigbo-ALSCON pipeline at Ukanafun to the Cement Plant Site at Mfamosing.

The construction project is been executed following international best practices of quality and safety standards and is expected to be completed during the 4th quarter of 2009.

Akute Power Limited

The project involves the development of an Independent Power Plant for Lagos Water Corporation (LWC) who is the captive off-taker of all the electric power generated.

The objective of the LWC is to increase its existing capacity utilization by improving the supply of power to its two main water treatment plants (Head Works) at Iju and Adiyan in Lagos State. Both plants account for approximately 72% of the total capacity of LWC. The LWC predicts the improvement in power supply will help it improve its capacity utilization from currently 30% to 60% in the first year of the IPP being operational and improving to 85% in the third year.

To support it in achieving this objective the LWC went through a competitive bid process for a 100% power supply solution and this culminated in Oando Gas and Power (“OGP”) a subsidiary of Oando PLC being selected. Akute Power Limited was set up to develop and operate the IPP.

Akute Power Limited’s solution involves the development and operation of an integrated gas distribution (13km pipeline) and 12.15MW IPP with power generated by 4 x 3 MW GE Jenbacher containerized gas engines. The pipeline is connected to existing natural gas infrastructure owned by the Nigerian Gas Company (“NGC”).

The project is scheduled for completion in Q3 2009.