Oryx Petroleum Corporation Limited

• quick to seize new opportunities
• inquisitive, curious and responsive
• self-motivated, tenacious and intuitive

• open-minded, flexible and innovative
• dedicated to working with local cultures for shared success
• versatile and resourceful in exploring fresh solutions

• honest, fair, open and tolerant
• a culture that encourages personal success committed to
• maintaining the highest standards of civility, decency, dignity and justice

STRATEGY

The strategy for Oryx Petroleum is to fulfil our vision to become one of the world’s leading independent oil exploration, development and production companies.

The strategy is comprised of three key components:

Focus on regions we know

Our primary focus is on Africa and the Middle East, areas with known hydrocarbon basins and where our team has years of experience managing exploration, development and production projects. We understand, intimately, the people and environments and have a proven ability to respect and adapt to local business cultures.

Lead with our expertise

We aim, whenever possible, to operate assets. This allows us to determine the pace, quality and scale of investment and development of the license areas. Our team has the technical knowledge and experience to operate assets efficiently across the full life cycle of exploration, development and production.
Maximise success by minimising risk
We concentrate on areas that are prospective for oil, in proven hydrocarbon regions and where we believe we have a competitive advantage. We also seek multiple interests to diversify exposure and improve efficiency. Our entrepreneurial and ambitious approach is always balanced by extensive risk assessment and mitigation strategies to optimise our chances of success.

Oryx Petroleum was founded by AOG in September 2010.

Our creation was inspired by the success of Addax Petroleum, which was founded by AOG in 1994, listed on the Toronto Stock exchange in 2006 and then sold to Sinopec in 2009. At the time of its sale, Addax Petroleum had oil interests in 25 licenses, was producing more than 140,000 bbl/d and had more than 500 MMbbl of proven plus probable oil reserves.

Since our founding in 2010 we have expanded rapidly:

• August 2011 - acquired a 65% participating interest in the Hawler license area, an exploration license area that at the time of its acquisition covered 1,532 km2 in the central part of the Kurdistan Region of Iraq.
   
• August 2011 - acquired a 45% participating interest (33.75% working interest upon the exercise of certain rights by third parties) in the Sindi Amedi license area, an exploration license area that at the time of its acquisition covered 2,358 km2 in the northern part of the Kurdistan Region of Iraq. The license area has subsequently been relinquished.
   
• September 2011 - acquired a 38.67% participating interest in Oil Mining Lease 141 (“OML-141”), an exploration license area that covers 1,295 km2 in the shallow water of the Niger Delta in Nigeria.
   
• November 2011 - awarded an 85% participating interest (80% working interest upon the exercise of certain rights by third parties) in the AGC Shallow license area (“AGC Shallow”), an exploration license area that covers 1,700 km2 in the shallow water offshore Senegal and Guinea Bissau. 
   
• December 2011 - acquired a 37.5% participating interest in a venture that has rights to explore for and develop hydrocarbons in the Wasit province of Iraq, a large, underexplored province in east central Iraq close to the super-giant East Baghdad field Oryx Petroleum’s participating interest has since increased to a 50% participating interest (40% working interest upon certain events).
   
• December 2012 - acquired a 20% participating interest in the Haute Mer A license area (“Haute Mer A”),  an exploration licence area that covers 488 km2 in the deep water offshore the Republic of Congo (“Congo Brazzaville”).
   
• May 2013 - completed a C$250 million initial public offering on the Toronto Stock Exchange.
   
• June 2014 - received final approval for the award of a 30% participating interest in the Haute Mer B license area (“Haute Mer B”), an exploration license area that covers 402 km2 in the deep water offshore Congo Brazzaville.
   
• June 2014 - commissioned initial production facilities at the Demir Dagh field in the Hawler license area, with an initial gross (100%) oil production capacity of 5,000 bbl/d and a truck loading facility capable of handling 20,000 bbl/d.
   
• July 2014 - completed C$224 million public offering of common shares.

• September 2014 - commisioned temporary production facilities at the Demir DAgh field in the Hawler license area, with gross (100%) oil production capacity of 20,000 bbl/d.

• March 2015 - commenced selling crude oil produced in the Hawler licence area to a regional marketer. Under this arrangement Oryx Petroleum recieves its share of sales proceeds directly from third party marketer.