Total Seawolf Presentation

7/30/2019 Total Seawolf Presentation

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CAPACITY BUILDING INITIATIVE (CBI)

Seawolf' s presentation to the National Petroleum InvestmentManagement Services (NAPIMS)


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Overview: $550 million Enterprise Value Company

established in 2007.

Short term debt financing provided by FirstBank of Nigeria Plc. Nigerias largestfinancial institution

First Bank of Nigeria Plc and other local and

international co-investors have committed$150 million in start-up private equity capitalto fund development.

SeaWolf is premier Nigerian owner ofoffshore oilfield assets (3 jack-up rigs) byvirtue of the $210 million acquisition ofNorwegian publicly listed Mosvold JackupLimited and the $146.5 million acquisition ofWest Titania from Seadrill

SeaWolf is additionally in discussions with aninternational oil major towards theestablishment of an incorporated joint venturefor the purposes of acquiring and operatingland rigs and swamp barges in West Africa


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Mission & Objectives:

Create a Nigerian-owned world-classdrilling company

Achieve market-leader position in WestAfrica

Achieve local content transfer bydeveloping Nigerian workforce in drillingand related fields

Contractor of choice for safe

environmentally responsible, highspecification drilling service


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Key focus:

Operating the most modern fleetof land, swamp and shallowoffshore drilling units

Focus on Nigerian producers as

core clients

Joint approach with technicalpartner to present a fullyintegrated contractor

Training and developing Nigerianworkforce to provide the mostcompetent operational service inthe industry


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TEPNG-SEAWOLF -Drilling Operation so far

Seawolf arrived at TEPNG location on the 29 October 2010

Started operation on 26 November 2010

First well completed- 13 May 2011

Wells Completed to dateEMEM-7IME-12IME-13EBEN

Rig is moving to Amenam


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CAPACITY BUILDING INITIATIVE (CBI)

Came into existence based on agreement to ADDENDUM NO. 3 to the Drillingcontract for Offshore Drilling Services Contract Ref-NG00005669/DRI/09

(October 29, 2011)

To assist CONTRACTOR enhance its competence and improve its productivity

Initial CBI Invoices submitted on the 21st of November 2011

Payment for initial CBI invoices received 24th of January 2012

Payment for April 2012 invoices received on the 6th of June 2012 (May 2012invoices Outstanding)

$6.2MM received up to date from November 2011- April 2012


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CAPACITY BUILDING INITIATIVE - Net Amount Received to date (WHT 5% and LOCAL CONTENT TAX 1% Deducted)

SPARES TRAINING

WORLD RIGRIGDEN

OILFIELDS TECON RIGEQUIP FALCK PRIMECHARKINLIMITED JC INT'L OMS

FOZTEROFFSHORE TOTAL

DATE OFSUBMISSION

DATE OFPAYMENT

$ $ $ $ $ $ $ $ $ $

Nov-11 1,052,800.00 263,200.00 263,200.00 75,200.00 50,760.00 126,900.00 76,140.00 344,666.67 112,800.00 2,365,666.67 24-Nov-2011 24-Jan-2012

Dec-11 100,266.67 25,066.67 29,244.44 75,200.00 16,920.00 42,300.00 25,380.00 344,666.67 112,800.00 771,844.45 24-Dec-2011 30-Jan-2012

Jan-12 100,266.67 25,066.67 29,244.44 75,200.00 16,920.00 42,300.00 25,380.00 344,666.67 112,800.00 771,844.45 24-Jan-2012 14-Feb-2012

Feb-12 100,266.67 25,066.67 29,244.44 75,200.00 16,920.00 42,300.00 25,380.00 344,666.67 112,800.00 771,844.45 24-Feb-2012 19-Mar-2012

Mar-12 100,266.67 25,066.67 29,244.44 75,200.00 84,600.00 - - 344,666.67 112,800.00 771,844.45 24-Mar-2012 27-Apr-2012

Apr-12 100,266.67 25,066.67 29,244.44 75,200.00 84,600.00 - - 344,666.67 112,800.00 771,844.45 24-Apr-2012 6-Jun-2012

TOTAL 1,554,133.35 388,533.35 409,422.20 451,200.00 270,720.00 253,800.00 152,280.00 2,068,000.02 676,800.00 6,224,888.92

SPARES 1,942,666.70$

TRAINING 676,800.00$

PAYMENT RECEIVED- CBI


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SPARES

World rig supply and Rigden Oilfields chosen as vendors for supply of Spares

$1,944,399.64 has been received by both vendors from TEPNG for sparesfrom January 25, 2011 till date

33 % of spares has been delivered by vendors

Out of the 33% delivered, 39% are on the rig, 16% in our PH Base and 45% intransit to Nigeria.

Majority of these spares have a lead time of eight to ten weeks. We also needto consider the transportation period of 6weeks to sea freight and clear customs


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PPE

Quantity

available on

the rig

Quantity

available in PH

Base

Quantity on

order

1 Coveralls 56 pcs 0 pcs 220 pcs

2 Safety Glasses 160 pcs 0 pcs 100 pcs

3 Safety boots 40 pairs 60 pairs 0 pairs

4 Hard Hat 15 pcs 60 pcs 0 pcs

5 Hand Gloves 1954 pairs 0 pairs 0 pairs

6 Rain Coats 120 pcs 0 pcs 0 pcs

Present PPE Inventory


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TRAINING

JC International, Falck Prime Atlantic, Charkin Maritime chosen as vendors fortraining

Over $650,000k has been paid to training vendors by TEPNG-

Training Program hampered as vendors were unable to meet request

Seawolf is constrained as $268k of funds are held by the vendors

Seawolf has requested from TEPNG that the vendors be replaced by RIGEQUIPLIMITED


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Training- WHERE WE ARE ( Personnel ) Seawolf has as its workforce, a crop of budding professionals drawn from various sectors

of the drilling industry.

The vast majority of our crew currently have the requisite training to perform their dutiessafely and efficiently.

However, to ensure strict compliance to industry standards and regulations, we haveembarked on a company wide audit of training requirements across all functional lines.

Data gathered from this is being mapped in accordance with our training matrix toensure that all personnel without the requisite training are promptly given this trainingto the job properly.

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TRAINING STATUS AND COMPLIANCE ON ORITSETIMEYIN

TRAINING STATUS ON THE ORITSETIMEYIN

COURSES REQUIRED NO REQUIRED % COMPLIANCE % SCHEDULE DATE VENUE

COWAIN 8 100% 0% JULY 2012, AUG 2012 ARAB ACADEMY FOR TECHNOLOGY, EGYPTCRANE OPERATORS 8 100% 100% NOT APPLICABLE JC INTERNATIONAL

IWCF 12 100% 75% 18-Jun-12 PULGET KONSULT

HLO 12 100% 0% 23-Jul-12 JC INTERNATIONAL

FIRE FIGHTING 8 100% 100% NOT APPLICABLE CHARKIN

EMERGENCY RESPONSE TEAM LEADER 4 100% 0% 17-Jul-12 FALCK PRIME ATLANTIC

COMP-EX CERTIFICATION 4 100% 0% JULY 16, 2012, AUG 13, 2012 ASET INT'L OIL & GAS, ABERDEEN

BOSIET/HUET 116 100% 93% JUNE 25, 2012, JULY 02, 2012 CHARKIN MARITIME

GMDSS CERTFIFCATE/LICENSE 4 100% 100% AWAITING LICENSES FROM NIMASA CHARKIN MARITIME

PROFICIENCY IN SURVIVAL CRAFT 6 100% 83% NOT APPLICABLE ELKINS MARINENOV AMPHION DEVELOPMENT(DRILLING CREW) 12 100% 40% AUG 13, 2012, AUG 20, 2012 NOV, MONTROSE, SCOTLAND

STABILITY 8 100% 50% AUG 2012, SEPT 2012(DEVELOPMENTAL) MARTIN INTL

MEM/PIC 4 100% 0% FALCK PRIME ATLANTIC

SAFETY TRAININGS(RIG BASED)

JOB RISK ASSESSMENT 116 100% 0% JULY 02 - 05, 9 - 12, 16 - 19, 23 - 26 RIG BASED

CONFINED SPACE ENTRY 116 100% 0% JULY 02 - 05, 9 - 12, 16 - 19, 23 - 26 RIG BASED

PERMIT TO WORK 116 100% 0% JULY 02 - 05, 9 - 12, 16 - 19, 23 - 26 RIG BASED

LOCK OUT/TAG OUT 116 100% 0% JULY 02 - 05, 9 - 12, 16 - 19, 23 - 26 RIG BASED

PPE AWARENESS 116 100% 0% SEPT 03 - 06, 10 - 13, 17 - 20, 24 - 27 RIG BASED

HAZARD COMMUNICATION 116 100% 0% SEPT 03 - 06, 10 - 13, 17 - 20, 24 - 27 RIG BASED

SPILL PREVENTION 116 100% 0% SEPT 03 - 06, 10 - 13, 17 - 20, 24 - 27 RIG BASED

RESPIRATORY PROTECTION 116 100% 0% SEPT 03 - 06, 10 - 13, 17 - 20, 24 - 27 RIG BASED

FALL PROTECTION 116 100% 0% NOV 05 - 08, 12 - 15, 19 - 22, 26 - 29 RIG BASED

FIRST AID(ELEMENTARY) 116 100% 0% NOV 05 - 08, 12 - 15, 19 - 22, 26 - 29 RIG BASED

BLOOD BORNE PATHOGENS 116 100% 0% NOV 05 - 08, 12 - 15, 19 - 22, 26 - 29 RIG BASED

FIRE WATCHER 116 100% 0% NOV 05 - 08, 12 - 15, 19 - 22, 26 - 29 RIG BASED

FORKLIFT AWARENESS 116 100% 0% NOV 05 - 08, 12 - 15, 19 - 22, 26 - 29 RIG BASED


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TRAINING STATUS AND COMPLIANCE ON ORITSETIMEYIN


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WHERE WE WANT TO BE

Seawolf would like to be known as the preferred drilling contractor with highly trainedand capable staff who adhere to world class safety and operational standards.

To achieve this we have embarked on a multi pronged training and developmentapproach which comprises of the following:

1. Consultants to train our crew - NOV.

2. Internal mentoring and training practices.

3. External auditors to verify the effectiveness of training being delivered.

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SAFETY TRAINING

Seawolf has commenced an ongoing training and have engaged the services ofvarious indigenous and international training contractors as official trainingpartners for courses covering but not limited to the following:

1. Helicopter landing Officer .2. Basic fire fighting.3. Advanced fire fighting.4. Life boat coxswain.5. Offshore Survival.6. BOSIET.7. Basic first Aid8. Banks man/Signaler9. Abrasive Wheels

10. Mobile Crane Operations.11. Offshore Crane operations.12. Fall Protection.

13. Overhead Crane and Hoist.

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Developmental Training

Mechanical Cat engine Maintenance training. TDS8SA Maintenance, Top Drive. ADS10 Maintenance, Cat Head & Capital equipments.

Electrical Kato Gen set maintenance training.. TDS8SA Maintenance . ADS10 Maintenance. ABB VFD Maintenance/Operations. AC Recovery for Chief Electricians. Amphion Maintenance

ETABB VFD Maintenance/Operations.

Siemens PLC Maintenance/Operations. Rig Sense Maintenance/Operations. Amphion Maintenance.

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THANK YOU

Total Seawolf Presentation

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