MOCOH RESOURCES

Oil & MiningOil & MiningOpportunities

Toronto, June 23rd 2009

DisclaimerDisclaimerThi t ti h ld t b li d t ti f tt th t t ti l i t th iThis presentation should not be relied upon as a representation of any matter that a potential investor or theiradviser should consider in evaluating the Company. Potential investors must make their own independentassessment and investigation of the matters contained herein and should not rely on any statement or theadequacy or accuracy of the information provided. The Company and its related bodies corporate or any of itsdi t t ffi l d t k t ti t i li d tdirectors, agents, officers or employees do not make any representation or warranty, express or implied, as tothe accuracy or completeness of any information, statements or representations contained in the presentation,and they do not accept any liability whatsoever (including in negligence) for any information, representation orstatement made in or omitted from this presentation.

This presentation may contain forward looking statements that are subject to risk factors associated with theoil and gas businesses. Based on currently available information, the Company believes that the expectationsreflected in these statements are reasonable but they may be affected by a variety of variables and changes inunderlying assumptions which could cause actual results or trends to differ materially, including but not limitedto: price fluctuations, actual demand, currency fluctuations, drilling and production results, reserve estimates,loss of market, industry competition, environmental risks, physical risks, legislative, fiscal and regulatorydevelopments, economic and financial market conditions in various countries and regions, interest and foreignexchange rates, availability of capital, political risks, project delay or advancement, approvals and costestimates.

Investors should undertake their own analysis and obtain independent advice before investing in MocohInvestors should undertake their own analysis and obtain independent advice before investing in MocohResources.

2

Table of ContentTable of Content

1. Company Presentation

2. Projects Portfolio– Oil Upstream– Gas to Power– Chrome Ore Exploration

3. Contact Details

3

Mocoh SA Company ProfileMocoh SA Company Profile• Headquarters in Geneva• African focused trading company• Trading activities: 30 employees• Madagascar activities: 35 employees, including

two geologists• Has offices in Switzerland, United Kingdom,

Madagascar, South Africa, Kenya, Nigeria,Tanzania, Turkey

• Turnover of just under USD 1billion in 2008• Buys , Sells and Distributes Products and Crude

of just under 1M MT in 2008O t d d li d t d d i• Operates and delivers product and crude inKenya, Sudan, Uganda, Tanzania, Malawi, Zambia,Zimbabwe, Mozambique, Madagascar, Comoros,South Africa, Namibia, DRC, Congo, Nigeria,, , , g , g ,Ghana, Morocco, Tunisia, Libya, Algeria and mostEuropean countries and the Middle East

• Is registered and trades with all the major oilcompanies and National Governments

• Has lines of credit with many of the large TradeFinance banks. 4

Company Structure

Mocoh Resources Ltd

Company Structure

Mocoh Resources LtdOwns 100% of

Amicoh Resources LtdAmicoh Resources LtdOwns 100% of

Manja 3108 PSA Sikily Gas to Power‐ ‐j yMadagascar

5

Board of DirectorsBoard of DirectorsMichael has more than 28 years experience in the oil industry and has been highly successful in establishingand managing new businesses in competitive markets. Prior to Mocoh, he was the Managing Director ofV l I i l L d i i l di d h bli h d E P l

Michael HackingDi t Vanol International Ltd, an international trading company and then established Engen Petroleum

International Ltd, the international division of the integrated downstream South African refining company.Michael holds a BA from Cape Town University and an MBA from IMD Business School in Switzerland.

Oli i h l i i th i i d il i d t i H i tl di t f M h R

Director

Olivier has a long experience in the mining and oil industries. He is currently a director of Mocoh Resources,a former Non Exec. Director of Anzon Energy Ltd, an Australian oil & gas company listed on the Australianstock exchange with a net worth of US$600myn and recently bought by ROC Oil. He is a former director ofthe Energy Derivatives group at Total Fina Elf and worked as a senior executive at Elf Trading and CreditLyonnais in SE Asia, Russia & CIS, and Central and Eastern Europe. He has served as a director in bio tech andhigh tech medical companies.

Olivier FricDirector

David has worked on several mining projects in North America and Latin America. Before Mocoh he workedfor Caterpillar first as a Marketing Consultant in North America, then as Allocation Manager to the Europe,Africa and Middle East (EAME) markets. David holds an MSc in Metallogeny at the University of Geneva, aP t d t d i Mi i d E i t l E i i t EPFL d P l t h i f M t l d

David TripodiDirector

Postgraduate degree in Mining and Environmental Engineering at EPFL and Polytechnic of Montreal, and acertificate in Entrepreneurship at EPFL and HEC Geneva.

Willy has a very good knowledge of the mining and hydrocarbon sectors in Madagascar with nearly 30 yearsof professional experience About 10 years working with Office des Mines Nationales et des Industries

Willy Ranjatoelinaof professional experience. About 10 years working with Office des Mines Nationales et des IndustriesStratégiques (OMNIS) including five years as a Director in charge of supervision of new ventures of jointventures companies and the promotion of oil exploration in Madagascar. Then, nine years as GeneralManager of the mining company KRAOMITA MALAGASY (KRAOMA) dealing with production, beneficiation,export and marketing of chrome ore. Followed by 10 years as an administrator of companies in the privatesector and local representation of several Anglo Saxon companies operating in the mining sector (British‐G l i l S F Ai b G h i t ) d i th fi ld f il l ti (A i h R

Director

Geological Survey, Fugro Airborne Geophysics, etc…) and in the field of oil exploration (Amicoh ResourcesLtd). Mr. Ranjatoelina holds a diploma in Political Sciences from the Institut d’Etudes Politiques Paris, as wellas a certificate in Petroleum Management from Massachusetts Education Institute – Arthur D. Little Inc. inCambridge, USA. 6

Technical TeamTechnical TeamPeter Mikkelsen is a geologist with 32 years of upstream oil industry experience, including 15 years atexploration manager level or equivalent. He received a Bsc (Hons) degree in Geology from OxfordUniversity in 1976. He then joined Carless Exploration Ltd, working on its UK onshore and offshoreportfolio and was primarily responsible for onshore discoveries in the early 80s He became VP of

Peter Mikkelsen

portfolio and was primarily responsible for onshore discoveries in the early 80s. He became VP ofExploration of Carless’ US subsidiary in 1986 and then returned to the UK to join Brabant in 1988. Asexploration director, he was involved in a number of North Sea discoveries, including Malory, Hannay andGoldeneye, together with an expansion of Brabant’s international portfolio into Europe and Tunisia. He isnon executive Director of Rift Oil Plc, where he participated to the discovery of high quality gas reservoirs‐

ith th P k P k j t i P N G iwith the Puk Puk project in Papua New Guinea.‐

Alain was the senior exploration geophysicist and geologist for Elf Aquitane from 1987 to 1996, when hecreated his own company Radar Technologies France. He has been involved in Oil and Gas exploration inthe Congo, Kurdistan, Kazakhstan, France and Madagascar. He was General Secretary for Elf in Congo.

Alain Gachet

g , , , g y gDuring his career, Alain has made several discoveries of oil, gas and mines in Africa, Middle East and‐France. Alain has been involved in the Sikily project in 2008, when he undertook a thermographic fieldsurvey of the Sikily 1 well area. He is an Ingénieur des Mines in Atomic and Nuclear physics.‐

P t h 25 i i j t d l t i th i t d bli tP G h l Peter has over 25 years experience in power project development in the private and public sector,including construction, commissioning and operations. He was responsible for the East African region asDevelopment Manager for Rolls Royce Power Ventures. He was also involved in the development ofIndependent Power Plant at Geita Goldmine for Ashante Goldfields (40 MWe) and business developmentin East Africa (1999 – 2002). Peter resides in Dar es Salaam, Tanzania, and recently he was the Managing

Peter Gathercole(under discussion)

Director of Artumas Tanzania Ltd from 2002 to 2009 where he was responsible for the Mtwara EnergyProject’s development, including construction, commissioning and ongoing operations.

Jacques is a former executive from Hydro Québec and he was Managing Director Deputy of Jirama, the‐National electricity company in Madagascar. He has created his own company Zéphyr, working on the

Jacques ParadisNational electricity company in Madagascar. He has created his own company Zéphyr, working on thedevelopment of power projects in Madagascar and he is also the RSW country representative.

7

Projects PortfolioProjects Portfolio

1 Manja Oil Exploration ‐ Madagascar1. Manja Oil Exploration Madagascar

2 Sikily Gas to Power Madagascar‐ ‐ ‐2. Sikily Gas to Power Madagascar‐ ‐ ‐

3 Chrome Ore Exploration Madagascar3. Chrome Ore Exploration Madagascar‐

8

MANJA 3108MANJA 3108MADAGASCAR

Oil UpstreamOil Upstream

Executive SummaryExecutive SummaryThe opportunity exists, to:1) Gain a significant position in a large Oil block at the drilling stage of the exploration cycle, to

maximise the chance of a significant discovery at low finding cost.2) Develop a Gas to Power project‐ ‐ for the regional supply of energy, thanks to the discovery of

gas reserves with the Sikily 1 well (southern part of the block).‐

A significant, negotiable interest and operatorship in the Block No. 3108 Production Sharingl blAgreement is available.

¾ Proven major oil basin (up to 30 billion bo of tar sands)¾ Large (10,725 km2)¾ Reasonably open and accessible terrain with operational costs similar to Uganda (Albertine

Graben)¾ i i i i d b hi h h d d li i i f i¾ Existing seismic database which shows good data quality in main focus area, on reprocessing¾ Previous drilling has not been deep enough to reach main Triassic objective¾ All prospective onshore acreage now taken¾ Good fiscal terms and low work commitments

10

Morondava Basin: Heavy oil accumulations• Multi billion barrel (STOIIP) ‐

h d il fi ld

Morondava Basin: Heavy oil accumulations

exhumed oil fields• Bemolanga 500km2

– 2.5 (proven) BBL STOIIP to 20 billion

• Tsimiroro (16o API)– 460 MMBO (proven) STOIIP

Bemolanga Heavy Oil-Sand

460 MMBO (proven) STOIIP to 6 billion BBL.

• Karoo Triassic/Jurassic reservoirs Tsimoro Heavyreservoirs

• Probable Jurassic source

3rd l t t d d it

Tsimoro Heavy Oil Field

3rd largest tar sands deposit worldwide after Alberta

(Athabasca) and Venezuela (Orinoco)(Orinoco) 200

km11

Permit LocationPermit Location

Permit area 10,725 km²12

Work CompletedWork Completed• Historical:

– Gravi/Mag data– 4,141 km of 2D Seismic data– 5 wells drilled

3 i th 1950 SPM (S iété d Pét l d M d )• 3 in the 1950s SPM (Société des Pétroles de Madagascar) • 2 in the 1970s/80s (Chevron and Amoco).• These wells were not drilled deep enough at that time to penetrate the main Isalo sand objective• Sikily 1 (1954) discovered gas in a Mid/Lower Jurassic formation, testing at 2.65 mmcf/d‐

• Amicoh:– Satellite imagery (tectonics evaluation)

i i i i h i i– Gravity interpretation with existing AeroMag– Geochemical field study– Reprocessing of 2,108 km of 2D seismic (1980’s Amoco)– Acquisition of 218 km of new 2D seismic by BGP in Nov 07– Acquisition of 218 km of new 2D seismic by BGP in Nov 07– Final migrated sections with Kelman in June 08– Thermographic survey of the Sikily 1 well area‐– Pre feasibility study of Gas to Power project (in progress)‐ ‐ ‐y y p j ( p g )

13

Deterministic Reserves Estimate for the 6 seismically mapped Prospects on Manja Licence

PROSPECT RESERVOIRMINIMUM MID MAXIMUM MINIMUM MID MAXIMUM

OIL CASE (mmbo) GAS CASE (bcf)RESERVES

North Manja Isalo 56 423 1,848 581 3,410 12,221 Sub-Kazo Isalo 15 116 507 164 963 3,453 Betsimba NW* Isalo 10 73 318 107 629 2,254 Betsimba NE* Isalo 7 51 222 78 456 1,633 Sub-Total: Isalo 88 663 2,896 930 5,457 19,562

Betsimba Updip Jurassic 1 6 21 6 27 82 Area 1 Jurassic 2 10 36 8 40 129 Sub-Total: Jurassic 3 15 57 14 66 211

Overall Total: 91 678 2,953 945 5,524 19,772

*Note: portion within Manja Block onlyOil and gas cases run as alternative scenarios.

Prospects could also be mix of the two.

14

SIKILYSIKILYMADAGASCAR

Gas to Power‐ ‐Gas to Power

Gas to Power Project‐ ‐Gas to Power ProjectMocoh will be using the gas discovered in the Sikily 1 well‐ (southern part ofthe Manja 3108 block) for the regional supply of energy through thethe Manja 3108 block) for the regional supply of energy through thedevelopment of the Sikily Gas to Power project.‐ ‐1. Gas Extraction 2. Power Generation 3. Power Supply

- Toliara Region (Jirama, AERP)- Total Heavy Oils Extraction- Mining Companies- Development of new Industries

Natural Gas Power

Power stations fired by natural gas will be a major part of the future’s lower carbon economy‐because natural gas is the cleanest fossil fuel available. When used in power generation, gas fired‐power typically produces 50 percent less carbon dioxide than conventional coal fired plants.‐

Gas fired power plants run with the help of gas turbines, which are similar to airplane engines.Compressed air is forced into combustion chambers, where it mixes with natural gas fuel. Themixture is then burned, making combustion gas. This hot gas expands through the turbine, and itsheat energy drives a generator, producing cleaner electricity. Plant fitted with co generation‐technology has an added benefit as some of the steam can be used to supply nearby industry.S l i h t d t th lik thi i hi hl ffi i t tti ll f l

16

Supplying heat and power together like this is highly energy efficient,‐ cutting overall fuelconsumption and carbon dioxide emissions.

(source, BP website: http://www.bp.com/sectiongenericarticle.do?categoryId=9021518&contentId=7040019 )

Economics Off Take AgreementMocoh is currently evaluating the projects CapEx and

Economics – Off Take Agreementy g p j p

OpEx through the realization of the pre feasibility study.‐

Our current understanding is a production cost ofelectricity of 17 20 US$ct/kWh,‐ whereas Jirama isbuying it from other producers at 37 42 US$ct/kWh.‐

Ji M d N i l El i i CJirama, Madagascar National Electricity Company

MOU on a long term off take agreement‐ if the SikilyMOU on a long term off take agreement if the Sikilygas allows to reduce their costs for deliveringelectricity in the region (under progress)

17

Key PartnersKey Partners

• Jirama, Madagascar National Electricity Companyp y

• Caterpillar, Switzerland & Madagascar• RSW Canada• RSW, Canada• IPA Economics, Abu Dhabi• Mada Hydro, Madagascar‐

18

Work Programme Until Production

1. Pre Feasibility Study (Year1)‐1. Pre Feasibility Study (Year1)– Acquisition of 50 60 km of 2D seismic in the Sikily area (USD 2M ‐

for Year1)

2. Full Feasibility– Test well to properly assess size and production rates (USD 10M– Test well to properly assess size and production rates (USD 10M

for Year2)– Review overall projects economics (Year2)

3. Construction (Year3 Year4)‐

4. Beginning of Production (Year5)

19

CONCLUSIONThe Sikily Gas to Power project responds to many of the environmental and ‐ ‐social investment criteria for NGO’s and commercial investors:social investment criteria for NGO s and commercial investors:

• Improved supply of energy• Significant reduction in cost of energy• Improved power distribution

E i t f i dl ( t l h f l )• Environment friendly (natural gas vs. heavy fuels)• Development of regional industries• Increase in local employmentIncrease in local employment• Reduced foreign exchange exposure• Madagascan gas for the people of Madagascar

The commercial upside for the investor is the opportunity of the substantial oil reserves in the north and central part of the block. The work that has been done creates a world class opportunity. 20

ANDRIAMENAANDRIAMENAMADAGASCAR

Chrome Ore ExplorationChrome Ore Exploration

Location and AccessibilityLocation and AccessibilityExploration permit area 75 km² (12 squares )p p ( q )

+Exploitation permit area 31.25 km² (5 squares ))

22

Work HistoryWork History1948 Di f th fi t h it l (A d fi ill )1948: Discovery of the first chromite lens (Androfiavillage)1966: Constitution of the COMINA (Compangnie Miniere d’Andriamena). First

shareholders: UGINE Company, PECHINEY, COFIMEN, MOKTA, the SociétéF i d F d i A i El i (SFAC) d h M l SFrançaise de Fonderies et Aciers Electriques (SFAC) and the Malagasy State(20% of the capital)

1968: Beginning of mining activity1969: Launch of the treatment plant and first shipping of concentrate chromite1973: Beginning of exploitation of the Ankazotaolana open pit1975: Nationalization of COMINA, new name "KRAOMITA MALAGASY"1975: Nationalization of COMINA, new name KRAOMITA MALAGASY1981: Launch of the dense liquor unit for treatment of the lumpy material1982: First shipping of lumpy products200 i f h ik i2005: Reopening of the Bemanevika mineNow: Need to identify and prove new reserves

23

Treatment PlantTreatment Plant

Treatment of the ore into:• Chromite concentrate (48% Cr O Cr/Fe 2 4)• Chromite concentrate (48% Cr2O3 – Cr/Fe 2.4)• Chromite lumpy (42% Cr2O3 – Cr/Fe 2.4)

Treatment units:• Gravity means (vibrating tables spirals )• Gravity means (vibrating tables, spirals,…)• Dense liquor medium (for the lumpy material)

24

Available ResourcesAvailable Resources• 380 employees;Kraomita • 380 employees;• Tana headquarters;• Mining fleet;• Treatment plant;• Brieville accommodations;

Kraomita

• Brieville accommodations;• Experienced professionals

• Tana office (11 people)• Direction (Willy Ranjatoelina);• 2 Senior Geologists (before Mocoh, 4 years experience

with USGS and BGS) Accountancy;

Mocoh Madagascar

with USGS and BGS) Accountancy;• 1 Environment Engineer;• 1 Finance Manager• 1 Accountant;• 5 Support staff;• 5 Support staff;• Geological Equipment for Field Campaigns;• 1x 4WD

25

2009 Work Program2009 Work ProgramA h M h d K JV i fi li d h l iAs soon as the Mocoh and Kraoma JV is finalized, the explorationactivities will begin in the defined permit area as follows:

I. Feasibility study of the Ankazo open pit (closed in December2007), to assess the potential extension of the pit with additionalchromite mineralization Substantial RC drilling campaignchromite mineralization. Substantial RC drilling campaignenvisaged

II Advanced exploration in the highly mineralized parts of the permitII. Advanced exploration in the highly mineralized parts of the permitarea

III G fi ld l ti i th l l d t f th itIII. Greenfield exploration in the lesser explored parts of the permitarea

26

Proposed Deal StructureProposed Deal StructureOfferMocoh and Kraomita are looking for a partner to participate to finance and operate the Andriamena chromiteMocoh and Kraomita are looking for a partner to participate to finance and operate the Andriamena chromiteexploration project on terms and conditions to be negotiated.

Signed MOUA Memorandum of Understanding was signed in December 2007 between Kraomita and Mocoh. This MOUallowed Mocoh full access to the information at the mine, and to undertake a full due diligence. This MOU ispresently being updated, giving Mocoh the mandate to seek a partner for this project.

Company StructureThere is an opportunity for a partner to create a company with Mocoh and Kraomita for the exploration of a106.25 km2 permit area belonging today to Kraomita.

Anticipated obligations:• Investments of US$2M within 3 years after the permits will be transferred under the name of the JV (no

investments obligations for Kraoma at this stage);g g );• 20% “free carry” shares for Kraomita until decision to mine;• Then 10% “free carry” shares for Kraomita until production;• At production stage, any interested party may buy up to 33.3% of the company;

27

CONTACT DETAILS

David Tripodi Tel + 41 22 310 9401David Tripodi Tel: + 41 22 310 940114, Rue Etienne Dumont‐ Fax: + 41 22 310 52451204 Geneva Switzerland‐ email: david.tripodi@mocoh.ch

or

h l k lMichael Hacking Tel: + 41 22 310 524414, Rue Etienne Dumont‐ Fax: + 41 22 310 52451204 Geneva Switzerland‐ email: michael.hacking@mocoh.ch