RECORD OF FIRSTS

The capabilities of Sovereign’s people have led to these records:

• CIPREL Power Station – Sub-Saharan Africa’s (and Côte d’Ivoire’s) first gas-fired electricity project.  Supplied by natural gas from Panthere Field discovered and developed by Sovereign’s CEO (1995) for UMIC.
  
  
• Zafiro Field – West Africa’s (and Equatorial Guinea’s) first deepwater discovery and first deepwater production. The “grandfather” of all West Africa deepwater fields, the first and largest single producing field at 300,000 bopd, located in Niger Delta deepwater play (1995).
  
  
• CI-105 – the Côte d’Ivoire’s first deepwater exploration well with Shell and UMIC (1999).
  
  
• Operated largest number of ESPs in the world, producing over 2.2 MMB/D total liquids (1999 – 2005).

• Developed fields in environmentally sensitive rainforest areas in Ecuador, Bolivia, and Venezuela (1992 – 1996).
  
  
• Negotiated the first ever farm-out of a proven field from ExxonMobil in Nigeria, the Okwok Field, completed by Sovereign in May 2006.
  
  
• Enabled the development of the first ever Cretaceous-age oil and gas field in Nigeria, the Aje Field in OML 113, Benin Basin, offshore Nigeria. Led successful farm-in negotiations with six foreign investor oil companies.
  
  
• Received Ministerial approval to commence farmout negotiations for the Ebok Field, offshore Nigeria, the first time such an award has been made via government petition outside of a marginal field bid round

TIMELINE OF ACCOMPLISHMENTS

• 1993 to present – Sovereign’s CEO has caused around 80 wells to be drilled in West Africa.
• 1993 – Discovered Côte d’Ivoire’s 50 MMBO and 300 BCFG Lion and Panthere fields.
• 1994 – First oil from the Lion oil field, only 13 months following discovery.
• 1995 – Led the exploration and development team that discovered Equatorial Guinea’s 1.3 billion barrel Zafiro Field.
• 1995 – Côte d’Ivoire’s Petroleum Minister Lamine Fadika knights Joe Bruso for his contributions to the country’s energy sector.
• 1996 – Zafiro Field achieves first oil at 35,000 bpd only 13 months after commercial declaration.
• 1996 – Equatorial Guinea’s President Obiang knights Joe Bruso for his contributions to the country’s energy sector.
• 1997 – Assisted Equatorial Guinea’s International Boundary Commission in its successful negotiations with Nigeria to move the maritime boundary north of the Zafiro Field productive limits under first ever maritime boundary treaty.
• 1998 – Acquired 10% interest in Angola’s Block 31 and Block 33 for Ocean Energy.
• 1999 – Identified Block K as best offset to Triton’s Ceiba Field discovery in Block G.
• 2000 – Obtained exclusive negotiating rights to Equatorial Guinea’s Block K in the face of stiff industry competition. Negotiated Block K agreement between Vanco and Equatorial Guinea government.
• 2000 – Obtained exclusive rights to develop the deep offshore of Liberia from President Charles Taylor of Liberia. Designed first modern deepwater seismic survey for bid round, acquired by TGS-Nopec.
• 2001 – Obtained Nigerian Government approval for the exclusive farmout of the Okwok and Ebok Fields from ExxonMobil.
• 2002 – Reinstated Summit Oil’s expired onshore Nigeria licenses, OPL 205/206, using Inland Basin Decree.
• 2003 – Obtained Umusadege Marginal Field interest in OML 56, onshore Nigeria, on behalf of Nigerian independent SunTrust Oil.
• 2003 – Negotiated OML 115 Farm-in Agreement, offshore Nigeria, between Oriental and Nexen, Inc. of Calgary, Canada.
• 2004 – Signed 3-year worldwide exclusive upstream alliance with Syntroleum Corporation.
• 2004 – Negotiated Farm-in Agreement on behalf of Syntroleum for the Aje Field, OML 113, offshore Nigeria with Yinka Folawiyo Petroleum.
• 2005 – Completed Farm-in Agreement with major cash and carry consideration on behalf of Syntroleum for the Aje Field with five foreign oil company partners.
• 2005 – Completed Farm-in Agreement for the Okwok Field with Addax Petroleum on behalf of Oriental Energy Resources Limited.
• 2006 – Completed Farm-out Agreement for the Ajapa Field, OML 90, offshore Nigeria with Britannia-U on behalf of Syntroleum.
• 2006 – Completed Farm-out Agreement for the Okwok Field with ExxonMobil on behalf of Oriental Energy Resources Limited.
• 2006 – Commenced 4-well appraisal drilling program in the Okwok Field with Oriental Energy Resources and Addax Petroleum.
• 2006 – Completed Farm-out Agreement for OML 115, offshore Nigeria, with Energy Equity Resources Plc on behalf of Oriental Energy Resources Limited.
• 2006 – Commenced negotiations for the Ebok Field, offshore Nigeria, on behalf of Oriental.