NEBU CONSULTING LLC
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COMPETENT PERSON’S SUMMARY TECHNICAL REVIEW AND PRELIMINARY VALUATION OF PETROLEUM & MINERAL ASSETS LOCATED IN CABINDA, BIAFRA AND SOUTHERN CAMEROONS, Belonging to Kilimanjaro Capital Ltd. Petroleum bearing regions of West Africa Prepared for: KILIMANJARO CAPITAL LTD. 7015 Macleod Trail South, Suite 400 Calgary, Alberta, Canada T2H 2K6 Prepared by: Avrom E. Howard, MSc, FGA, PGeo Date: March 2013
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1. TITLE PAGE 2. ….. 1 TABLE OF CONTENTS ….. 2 3. EXECUTIVE SUMMARY ….. 5 4. INTRODUCTION & TERMS OF REFERENCE ….. 10 5. RELIANCE ON OTHER EXPERTS ….. 11 6. JURISDICTION (“COUNTRY”) DESCRIPTION & HISTORY ….. 12 6.1 Biafra 6.2 6.3 7. ….. 12 Southern Cameroons ….. 14 Cabinda ….. 16 ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE & PHYSIOGRAPHY ….. 18 7.1 Biafra 7.2 7.3 8. ….. 18 Southern Cameroons ….. 19 Cabinda ….. 22 GEOLOGICAL SETTING & KNOWN PETROLEUM & MINERAL REOURCES ….. 24 8.1 Biafra 8.2 8.3 9. ….. 24 Southern Cameroons ….. 36 Cabinda ….. 39 PROPERTY DESCRIPTION & AGREEMENTS ….. 47 9.1 Biafra 9.2 Southern Cameroons 9.3 ….. 47 ….. 49 Cabinda 9.3.1 Cabinda – Kilimanjaro (Northeast Block – Onshore Petroleum) 9.3.2 Cabinda – Kilimanjaro (Blocks 0 & 14 – Offshore Petroleum) 9.3.3 Cabinda-­‐ Kilimanjaro (South, Central & Northern Blocks – Onshore Petroleum & Minerals) ….. 52 ….. 52 ….. 54 ….. Kilimanjaro Capital Ltd .
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9.3.4 Cabinda – Maiombe (Onshore Minerals) ….. 56 10. VALUATION ….. 58 11. REFERENCES ….. 60 12. DATE & SIGNATURE PAGE ….. 62 13. CERTIFICATE OF THE WRITER ….. 63 14. CONSENT OF THE WRITER ….. 64 ….. 12 List of Figures & Tables Figure 1: Map of Biafra Figure 2: Map of Southern Cameroons ….. 15 Figure 3: Map of Cabinda ….. 17 Figure 4: Map of Nigeria ….. 18 Figure 5: Physiographic and Industrial Activity maps of Southern Cameroons ….. 21 Figure 6: Map of Cabinda ….. 23 Figure 7: Generalized geological map of West Africa ….. 25 Figure 8: Geology of Nigeria & the Niger Delta ….. 26 Figure 9: Stratigraphy of the Niger Delta ….. 27 Figure 10: Map showing the petroleum fields and limits of the petroleum-­‐bearing sedimentary basins of Biafra ….. 28 Map showing the distribution of known coal deposits in Biafra and Nigeria ….. 33 Figure 11: Figure 12: Stratigraphic section of the Anambra Basin from the Kilimanjaro Capital Ltd .
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Figure 13: Figure 14: Figure 15: Figure 16: Figure 17: Figure 18: Figure 19: Figure 20: Figure 21: Figure 22: Figure 23: Figure 24: Figure 25: Figure 26: Figure 27: Figure 28: Table 1: Late Cretaceous through the Eocene and time equivalent formations in the Niger Delta ….. 34 Geology map of Biafra ….. 35 Map showing the location of the Rio Del Ray basin and related oil fields ….. 37 Map showing oil & gas fields in the offshore triangle between Biafra (Nigeria), Southern Cameroons (Cameroun) and Equatorial Guinea ….. 37 Geology of Cameroun including Southern Cameroons ….. 38 Cabinda’s onshore petroleum lease blocks ….. 40 Oil & gas fields in offshore Cabinda and adjacent jurisdictions ….. 41 Detail of Cabinda’s offshore petroleum reservoirs ….. 41 Generalized stratigraphy of the Congo Basin ….. 42 The Congo Delta and related offshore petroleum basins ….. 43 Stratigraphic position of Cabinda’s & related jurisdictions offshore petroleum resources ….. 44 Geology of Angola (including Cabinda) ….. 46 On-­‐ and offshore petroleum leases in the Niger Delta ….. 48 Offshore petroleum leases, Nigeria/Biafra and Cameroun/Southern Cameroons ….. 52 Map showing the location of the Northeast block ….. 53 Blocks 0 & 14, Cabinda offshore leases ….. 55 Map of Cabinda showing the approximate location and boundaries of Kilimanjaro’s mineral rights license ….. 56 Climate data for Cabinda ….. 22 Kilimanjaro Capital Ltd .
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3. EXECUTIVE SUMMARY INTRODUCTION Kilimanjaro Capital Ltd., a private Canadian company, has signed agreements with the governments in exile of the Republic of Biafra, the Republic of the Southern Cameroons (Republic of Ambazonia) and the Republic of Cabinda (or Kabinda), jurisdictions that are currently under the control of Nigeria, Cameroun and Angola, respectively. These agreements confer a variety of significant future contingent mineral and both on-­‐ and offshore petroleum interests to Kilimanjaro, including in locations where other companies are currently actively exploring and producing under agreement with the existing authorities in these areas. Kilimanjaro Capital has invested in the future value of disputed resource assets. All are future contingent interests that fully vest upon self-­‐determination of the countries involved. The laws of Canada, England and other countries recognize that future, vested or contingent interests are real property and may be dealt with as such. There is no legal basis that prevents Kilimanjaro from acquiring such interests or that precludes it from assigning, selling, encumbering or otherwise monetizing them. REPUBLIC OF BIAFRA The Republic of Biafra is located in southern Nigeria and encompasses most of the oil and gas-­‐rich Niger River Delta. It seceded from Nigeria in 1967 and was repatriated in 1970 following a civil war that cost the lives of over one million Biafrans. The Biafra government in exile was established in 2009 and in 2012 the Biafra Zionist Movement submitted a formal appeal to the United Nations requesting observer status, a request that has yet to be granted. The Niger Delta hosts one of the world’s richest petroleum provinces, currently producing roughly 2.4 million barrels of oil per day. Its oil reserves and resources are estimated to be as high as 35 billion barrels or more, the world’s twelfth known largest; its gas resources are estimated to be three times as large. All of the world’s major multinational oil companies are active in Nigeria, where corruption is rife among the country’s leaders and the economic benefits of this valuable resource reach only a small Kilimanjaro Capital Ltd .
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minority of its citizens. Biafra hosts significant and mostly undeveloped coal resources, as well, in the range of several hundred million metric tons of mostly thermal grade coal. On November 16, 2012, Kilimanjaro signed an agreement with the Biafra Government in Exile covering all on-­‐ and offshore oil and mineral rights in Biafra, granting it a forty-­‐nine percent (49%) interest to be vested upon decolonization. Kilimanjaro retains certain rights and obligations all of which are specified in the agreement, the initial term of which is 20 years from the date of decolonization with an additional 20 years available at the discretion of the Biafran government. FEDERAL REPUBLIC OF SOUTHERN CAMEROONS Southern Cameroons is the southern half of the former British Southern Cameroons, the northern half of which was absorbed into Nigeria several years after authority for this territory was given up by Britain and assumed by the United Nations; the southern half was absorbed by the adjacent former French colony of Cameroun, against the will of the majority of the area’s inhabitants. In 1995, the Southern Cameroons Peoples Organization organized a referendum that produced a near unanimous vote in favor of independence. In 2006, it proclaimed the independence of the Republic of Ambazonia; however, it remains under the control of the Republic of Cameroun (note: the French spelling of Cameroon -­‐ “Cameroun”, has been used in this report to distinguish between the existing Republic of Cameroon and the presumptive Republic of Southern Cameroons). Southern Cameroons encompasses the eastern edge of the Niger Delta and the northern edge of the Doula basins, both of which host significant petroleum reserves and resources. The latter basin extends across the balance of Cameroun proper (encompassing additional petroleum-­‐bearing basins, as well) where somewhere between 70,000-­‐80,000 barrels of oil are produced per day, a portion of which comes from the territorial waters of Southern Cameroons. Onshore, the geology of Southern Cameroons is not well documented; however, the known host lithologies are prospective for a variety of intrusive and volcanic-­‐
hosted base and/or precious metal deposits. Kilimanjaro Capital Ltd .
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On May 22, 2012, Kilimanjaro signed an agreement with the Government of Southern Cameroons conferring oil, gas and mineral rights on four license blocks, both on-­‐ and offshore. Similar to the agreement Kilimanjaro signed with Biafra, the rights vest upon decolonization; the terms – tenure, rights and obligations, are similar, as well. REPUBLIC OF CABINDA (KABINDA) Cabinda is a disputed enclave of existing province of Angola, both of which are former Portuguese colonies. Cabinda comprises a wedge of territory sandwiched between the Republic of Congo, to the north, and the Democratic Republic of the Congo (formerly Zaire), to the south, the narrow arm of the latter separating it from Angola proper, further to the south. Despite its desire for independence, Cabinda was incorporated into Angola when Portugal granted all its colonies independence, in 1974, since which time it has been engaged in occasionally violent conflict in order to achieve its long-­‐desired freedom, a less well known part of the much more violent civil war within Angola itself that lasted from 1975 until 2002. Offshore from Cabinda lies the heart of the Congo Basin, a very significant offshore petroleum province. It is estimated that close to 60 percent of all of Angola’s oil production, estimated at 1.6-­‐1.8 million barrels per day in 2012, comes from the area offshore from Cabinda. Angola’s oil reserves are currently estimated at over 9.5 billion barrels, the sixteenth largest known reserve in the world; its gas reserves are thought to exceed 56.5 trillion cubic feet. Angola hosts significant mineral resources, as well (as does the neighboring Democratic Republic of the Congo); however, most are hosted in lithological units other than those that appear to be found in Cabinda (according to geology maps of the region). Kilimanjaro has signed three agreements with the Republic of Cabinda and Maiombe Ouro e Minerais Ltd., its partly-­‐owned subsidiary company, has signed a fourth. The first, signed on October 1, 2012, covers onshore petroleum rights in northeast Cabinda (the “Northeast Block”). It has a term of 99 years from February 1, 2013; a 10% royalty is payable upon transfer of all or part of the block. The second agreement, signed on March 9, 2013 covers the South, Central and Northern onshore blocks and includes rights to both petroleum and Kilimanjaro Capital Ltd .
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mineral resources; the terms are the same as for the first agreement i.e. 99 years commencing on March 15, 2013. The third agreement was signed on November 16, 2012 and covers two offshore petroleum license blocks where Chevron is currently in production (among others). The agreement has a 20 year term from the date of decolonization and is similar in most other respects to the agreements signed between Kilimanjaro and the governments of Biafra and Southern Cameroons. The fourth agreement is between Cabinda and Maiombe, signed on January 29, 2013. It covers mineral rights over a license block in northeastern Cabinda where gold mining is apparently ongoing. The agreement has a term of 20 years from the date of decolonization; rights are transferable but subject to a 5% royalty on production (along with other terms and conditions). VALUATION All of Kilimanjaro’s assets are future contingent interests that vest fully upon self determination of the countries involved. According to Canadian, British and the laws of a number of other nations, any type of property, wherever it may be situated, including money, goods, things in action, land and every description of property, whether real or personal, legal or equitable, as well as obligations, easements and every description of estate, interest and profit, present or future, vested or contingent, in, arising out of or incident to property, are considered as real property. An unrecognized government requires no diplomatic recognition to conduct itself under international law. International courts have repeatedly accorded legal standing to unrecognized governments. Unrecognized governments may conduct commercial transactions and have them recognized by domestic courts. In addition, there are the precedents of several publicly-­‐listed companies that have entered into production and exploration agreements with internationally unrecognized governments in other contested jurisdictions in Africa such as Somaliland, Western Sarah and elsewhere. Consequently, however contingent the petroleum and mineral rights that Kilimanjaro has obtained may be, they are legally recognized, real property assets. On the other hand, their actual value from a practical point of view will only be realized upon the jurisdictions Kilimanjaro Capital Ltd .
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within which they exist obtaining independence (that can be maintained both in theory and in practice). In terms of placing a value on these assets, there is no recognized mechanism by which to estimate them; they can only be described. The writer’s view is that these descriptions speak for themselves and that if any of the jurisdictions in which these rights have been obtained were to achieve independence and the rights accorded in the agreements vested, the value of the agreements and the rights contained therein would be immense notwithstanding the degree to which they might be discounted or contested. Although no known methodology exists to estimate the value of these various rights described herein, Kilimanjaro plausibly values the assets current worth at no less that US $150 million. Kilimanjaro Capital Ltd .
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4. INTRODUCTION & TERMS OF REFERENCE The writer was commissioned by Kilimanjaro Capital Ltd. to prepare a technical review and preliminary valuation of its future contingent petroleum and mineral interests in the contest jurisdictions (“countries”) of Biafra, Southern Cameroons, and Cabinda, currently under the authority and control of Nigeria, Cameroun and Angola, respectively. These interests comprise agreements with the governments in exile of this disputed jurisdictions and cover areas some of which are currently being actively developed and exploited by a number of multinational petroleum companies along with national and international state-­‐
owned enterprises. The writer has carried out a desktop study based upon historical and technical information supplied by Kilimanjaro, most of which has been independently verified from public domain sources including those published both in print and on the internet at a variety of websites, all of which are referenced at the end of this report. Whereas public domain information pertaining to the petroleum and to a lesser extent, mineral, resources of Nigeria, Cameroun and Cabinda is adequately available, that focused specifically upon the disputed jurisdictions found within is much less so, hence approximations have been required when estimating the portion of petroleum and mineral production, reserves and resources that are thought to lie within the boundaries of these jurisdictions. However, the writer is satisfied that these approximations are reasonable. The writer is principal consultant of an independent geological consulting firm and neither he nor the firm retains any historical or current association with either Kilimanjaro or any of the disputed jurisdictions covered in this report. Kilimanjaro Capital Ltd .
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5. RELIANCE ON OTHER EXPERTS The writer is a geologist by education and experience with expertise in the minerals sector, and acquaintance with the petroleum sector. However, the geology of sedimentary basins and the mechanisms by which metal-­‐ and/or petroleum-­‐bearing fluids are generated, transported and deposited within these basins is knowledge common to both specialties and outside expertise has been neither required nor sought in the completion of the relevant sections of this report. The writer has audited the agreements signed by Kilimanjaro and its partly-­‐owned subsidiary but makes no comment upon their legal status in regard to the future contingent interests conveyed within as this is a matter for attorneys, not geologists. The writer has relied upon the expertise of Dr. Jonathan Levy, PhD in this regard. Mr. Levy is a member of International Criminal Bar -­‐ Barreau Penal in The Hague and has practiced extensively before the UN organizations, the African Union, international tribunals, and in the courts of several countries. Dr. Levy is an attorney who practices in US , Caribbean, European and African jurisdictions. His practice concentrates on international law, human rights, asset recovery and related fields in banking, finance, criminal and administrative law. He is on the faculty at two graduate schools and instructs courses in international law and public administration, counter terrorism, anti money laundering, law and diplomacy. He is an attorney member of the District of Columbia and California Bars, United States Supreme Court Bar, US International Court of Trade Bar, and other jurisdictions. He is Ambassador at Large for the Republic of Cabinda.
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6. JURISDICTION (“COUNTRY”) DESCRIPTION & HISTORY 6.1 Biafra Biafra, officially the Republic of Biafra, was a secessionist state in south-­‐eastern Nigeria that existed from May, 1967, to January, 1970, taking its name from the Bight of Biafra (the Atlantic bay to its south). The inhabitants were mostly the Igbo people who led the secession due to economic, ethnic, cultural and religious tensions among the various peoples of Nigeria. The creation of the new country was among the causes of the Nigerian Civil War, also known as the Nigerian-­‐Biafran War. The Biafra government in exile was established in 2009, as a continuation of that government owing to the deteriorating situation in Nigeria and as an alternative to groups such as the Movement for the Emancipation of the Niger Delta (“MEND”), which has committed acts of violence targeting the oil industry in the Niger Delta. Biafra encompasses over 29,848 square miles (77,310 square kilometers) within its borders, including much of Nigeria’s current oil production. Figure 1: Map of Biafra (pale yellow) Kilimanjaro Capital Ltd .
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In 1960, Nigeria became independent of the United Kingdom. As with many other new African states, the borders of the country did not reflect earlier ethnic boundaries, with semi-­‐autonomous feudal Muslim states in the north and predominantly Christian and Animist ethnic groups in the south. Too, Nigeria's oil – its primary source of income, is located in the south of the country, most of which was (and remains) claimed by Biafra. In January 1966, a group comprised mostly of southeastern Nigerians led a military coup during which several political leaders including Nigeria's Prime Minister and the Northern premier, were killed. In July, 1966, northern officers and army units staged a counter-­‐coup. Muslim officers named a Christian from a small ethnic group in central Nigeria as the head of the Federal Military Government (“FMG”). The two coups deepened Nigeria's ethnic tensions leading to further violence later in the year during which over 30,000 Nigerians were killed, mostly from the southern ethnic groups. In January 1967, the military leaders and senior police officials of each region met and agreed on a loose confederation of regions. After the federal and eastern governments failed to reconcile, the Eastern region voted to secede from Nigeria in May of that year, leading to the creation of the Republic of Biafra. The region’s vast oil reserves were a huge source of conflict and international concern; oil was and remains a major component of the Nigerian economy and a globally significant strategic commodity. The Biafrans were very ill equipped for war, out-­‐manned, and out-­‐
gunned by the military of the remainder of Nigeria that was supported by the British, Americans and Soviets. The FMG launched "police measures" to annex the Eastern Region in July, 1967. Its initial efforts were unsuccessful and the Biafrans successfully launched their own offensive, as well, occupying areas of Nigeria, but by October of that year the FMG regained the land after intense fighting. In September, 1968, the FMG launched a major offensive and in June, 1969, the Nigerian government banned all Red Cross aid to Biafra. In October, 1969, Biafra appealed to the United Nations to mediate a cease-­‐fire. The federal government called for Biafra's surrender and in December, the FMG managed to cut Biafra in half. Shortly thereafter, Biafra was completely reabsorbed into Nigeria. Over one million people perished during the war from the fighting and starvation. Kilimanjaro Capital Ltd .
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The Movement for the Actualization of the Sovereign State of Biafra (“MASSOB”) advocates a separate country for the Igbo people of south-­‐eastern Nigeria. They accuse the state of marginalizing the Igbo people. MASSOB says it is a peaceful group and advertises a 25-­‐
stage plan to achieve its goal peacefully. There are two arms to the government: the Biafra Government in Exile, and Biafra Shadow Government. The Nigerian government accuses MASSOB of violence; MASSOB's leader, Ralph Uwazuruike, was arrested in 2005 and is being detained on treason charges. MASSOB continues to appeal for his release. In 2009, MASSOB launched "the Biafran International Passport" in response to persistent demand by Biafrans in diaspora. In August of 2012, the Biafra Zionist Movement (“BZM”), submitted a formal appeal to the United Nations for Biafra to be accorded of an observer member of the body; this appeal has yet to be granted. 6.2 Southern Cameroons The Federal Republic of Southern Cameroons has a surface area of 43,000 square kilometers and a current population of about 6 million people; it is also known as the Republic of Ambazonia. Southern Cameroons is defined as the territory of the former United Nations Trust Territory of the British Southern Cameroons, which includes the Bakassi Peninsula. Southern Cameroons was the southern part of the British Mandate territories of Northern Cameroons and Southern Cameroons, which lay immediately west of the French territory of Cameroun. It was administered by the British Resident in Nigeria, by indirect rule. In 1946, the United Nations granted trusteeship to Britain; in 1954, power shifted to an elected government (with a British Commissioner). Wishing to avoid absorption into Nigeria, Cameroonians petitioned for autonomy; in 1954 it was granted. As Cameroun and Nigeria prepared for independence, Cameroon nationalists debated if their interests lay with one or the other, or with independence. The latter was opposed by the British so, in 1961, Northern Cameroons joined Nigeria and Southern Cameroons joined Cameroun. Kilimanjaro Capital Ltd .
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Discontent among the English-­‐speaking Southern Cameroonians, now a minority in French-­‐
speaking Cameroun, increased after 1972 when Cameroun replaced the federal state with a unitary one, leaving this group even more marginalized. Figure 2: Map of the Southern Cameroons (deep yellow) Pro-­‐independence groups claim that the UN and the UK did not abide by agreements meant to safeguard their interests and that Cameroun’s adoption of a federal constitution in September, 1961, constituted annexation of Southern Cameroons. During the 1990’s, the Southern Cameroons Peoples Organization (“SCAPO”) presented petitions against this annexation and in 1995 organized a referendum that produced a near unanimous vote in favor of independence. Over the past decade, the UN Human Rights Commission recognized that Southern Cameroons meets the definition of a “people” under international law. It further stated that this region is entitled to autonomy and recommended dialogue with Cameroun to resolve differences. In 2002, SCAPO took the Nigerian government to the Federal High Court in Abuja to require it to take a case before the International Court of Kilimanjaro Capital Ltd .
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Justice to establish the right of the people of the Southern Cameroons to self-­‐determination. The court ruled in their favor in March, 2002. In August, 2006, Nigeria formally handed over the Bakassi peninsula to Cameroun. SCAPO responded by proclaiming the independence of the Republic of Ambazonia, to include the territory of Bakassi. 6.3 Cabinda Cabinda is a disputed exclave and province of Angola, the result of a fusion of three kingdoms: N'Goyo, Loango and Kakongo. Cabinda comprises an area of 7,823 square kilometers (3,020 square miles) and a population of 357,576 (as of 2006). Cabinda is separated from the rest of Angola by a narrow strip of territory belonging to the Democratic Republic of the Congo (“DRC”), which bounds the province on the south and the east; it is bounded on the north by the Republic of the Congo, and on the west by the Atlantic Ocean. Portuguese explorers, missionaries and traders arrived at the mouth of the Congo River in the mid-­‐15th century. Over the years, the Portuguese, Dutch, and English established trading posts, logging camps and small palm oil processing factories in Cabinda. Portugal first claimed sovereignty over Cabinda in the February 1885 Treaty of Simulanbuco, which gave Cabinda the status of a protectorate of the Portuguese Crown (this is a basis upon which the legal and historical arguments in defense of self-­‐
determination of modern-­‐day Cabinda are based). By the mid-­‐1920s, the borders of Angola had been finally established; Cabinda was treated as part of this colony. The Portuguese constitution of 1933 distinguished between the colony of Angola and the protectorate of Cabinda but in 1956 the administration of Cabinda was transferred to the governor general of Angola. The legal distinction of Cabinda's status from that of Angola was also expressed in the Portuguese constitution of 1971, yet when Angola was declared an "overseas province" (Província Ultramarina) within the empire of Portugal in 1951 (in 1972 the name was changed into "State of Angola"), Cabinda was treated as an ordinary district of Angola. A 1974 military coup in Lisbon abolished the longstanding authoritarian regime established by António de Oliveira Salazar and the new government decided immediately to grant all Portuguese colonies their independence. In Angola, the decolonization process led to violent conflict between the different movements and their allies. In 1975, a treaty Kilimanjaro Capital Ltd .
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between Portugal and National Liberation Front of Angola (“FNLA”), People's Movement for the Liberation of Angola (“MPLA”) and National Union for the Total Independence of Angola (“UNITA”) reconfirmed Cabinda's status as part of Angola. The treaty was rejected by several Cabindan political organizations that were in favor of a separate independence. Cabinda has retained the status of a normal Angolan province ongoing political protests notwithstanding. An ad-­‐hoc United Nations commission for human rights in Cabinda reported in 2003 that many atrocities had been perpetrated by the MPLA, and Human Rights Watch reported the same. In July 2006, after ceasefire negotiations in the Republic of Congo, Cabindan separatist forces announced their readiness to declare a ceasefire, however, the Cabindan government in exile, in Paris, dismissed their authority to do so saying that the only acceptable solution would be total independence. Sporadic violence continues to this day. Figure 3: Map of Cabinda Kilimanjaro Capital Ltd .
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7. ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE & PHYSIOGRAPHY 7.1 Biafra Biafra has a tropical climate with two distinct seasons: dry and rainy. From April to October the rainy season takes place, with heavy rain and high humidity. The heaviest rain occurs between June and July with up to 360 millimeters (14 inches) of rain; temperatures during this period range from a high of 30 degrees Celsius (86 degrees Fahrenheit) to a low of 22 degrees Celsius (71.6 degrees Fahrenheit). The dry season starts in November and ends in April during which nighttime temperatures may dip to 20 degrees Celsius (68 degrees Fahrenheit); daytime temperatures reach up to 36 degrees Celsius (96.8 degrees Fahrenheit). Figure 4: Map of Nigeria
A map of Nigeria (see Figure 4) shows a well-­‐developed network of roads throughout the country; given that the highest density and level of industrial activity in Nigeria is in its southern, petroleum-­‐rich regions (i.e. Biafra), chances are that its infrastructure is best there, too. There are daily flights to Lagos, Nigeria’s capital city, and internal flights on Kilimanjaro Capital Ltd .
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local carriers. There are almost certainly daily flights in and out of Port Harcourt, given its location relative to the petroleum-­‐rich Niger River delta located in the heart of Biafra. It is difficult to obtain detailed information regarding Biafra specifically, but information about Nigeria is widely available. Agriculture in Nigeria has suffered from years of mismanagement, inconsistent and poorly conceived government policies, neglect and the lack of basic infrastructure and it is no longer a major exporter of cocoa, peanuts, rubber, and palm oil. Once the biggest poultry producer in Africa, output has been slashed. Fisheries are poorly managed. Most critical for the country's future, Nigeria's land tenure system does not encourage long-­‐term investment in technology or modern production methods and does not inspire the availability of rural credit. Agricultural products include cassava (tapioca), corn, cocoa, millet, palm oil, peanuts, rice, rubber, sorghum, and yams. In 2003, livestock production featured eggs, milk, beef and veal, poultry, and pork. In the same year, the total fishing catch was 505.8 metric tons. Round wood removals totaled slightly less than 70 million cubic meters, and sawn wood production was estimated at 2 million cubic meters. The agricultural sector suffers from extremely low productivity, reflecting reliance on antiquated methods. Although overall agricultural production rose by 28 percent during the 1990s, per capita output rose by only 8.5 percent during the same decade. Agriculture has failed to keep pace with Nigeria's rapid population growth, so that the country, which once exported food, now relies on imports to sustain itself. 7.2 Southern Cameroons As home to the highest peak in West Africa and the Menchum Falls (a potentially significant source of hydro-­‐electric power), Southern Cameroons is host to a diverse landscape. It comprises two regions: a grassland region to the north, and a Forest Region to the south. The grassland region, located to north of the territory, has a population of about 4,750,930 inhabitants and covers a surface area of 17,300 square kilometers. Its population density is approximated at 98 inhabitants per square kilometer. The region is hilly to mountainous, featuring waterfalls and crater lakes; rice is grown in the flat Ndop Plain area. Apparently Kilimanjaro Capital Ltd .
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neglected by the government Cameroun, the grassland region is lacking in any industrial activity. There are two seasons: a dry season beginning from November and ending around May, when the average temperature is about 20 degrees Celsius and the air is dry and cold, and a rainy season that begins in June and ends around October during which the daytime temperature averages about 20 degrees Celsius and the nighttime temperature averages 15 degrees Celsius. Raffia, also known as Kosi palm, is an important tree. Raffia fibers have many uses, especially in the area of textiles and in construction. They are used for ropes, sticks and supporting beams, and various roof coverings are made out of its fibrous branches and leaves. The membrane on the underside of each individual frond leaf is taken off to create a long thin fiber that can be dyed and woven as a textile into products ranging from hats to shoes to decorative mats. Plain raffia fibers are exported and used as garden ties or as a "natural" string in many countries. Raffia palm also provides an important cultural drink. The sap contains sugars that is traditionally collected by cutting a box in the top of the palm and suspending a large gourd to collect the milky white liquid (unlike oil palms, this process kills the tree). Sap from both the raffia and oil palms can be allowed to ferment over a few days. When first collected from the tree, it is sweet and appears slightly carbonated and as it ages more sugar is converted. The sap is usually called wine, and raffia wine tends to be sweeter at any age when compared to oil palm wine. Both kinds of palm wine can also be distilled into alcoholic beverages. The territory of South Cameroons is blessed with fertile land along the coastal region, where Germans developed palm, tea, rubber, banana and black pepper plantations in the late 1800’s. These plantations which were taken over by the British after the defeat of Germany in World War One and were renamed the Commonwealth Development Corporation, and later the Cameroon Development Corporation (“CDC”). After many past decades, the CDC remained the largest employer next only to the government of Cameroun. The CDC produces over 25,000 metric tons of natural rubber, 95,000 metric tons of palm fruits, and 40,000 metric tons of bananas annually. It has two large tea estates in Tole and Kilimanjaro Capital Ltd .
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Ndu, a coconut plantation in Mbonge and black pepper plantation in Bimbia. Rice farming is carried out locally in the grassland region of Ambazonia; fruits such as papaya, oranges, grapes, guava, pineapples and watermelon are grown, as well. Figure 5: Physiographic and Industrial Activity maps of Southern Cameroons Kilimanjaro Capital Ltd .
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Southern Cameroons hosts the oldest remaining rainforest in Africa, with 1,000 species of which 60 are unique to the area. More than 90 medicinal plants have been discovered there; 400 tree species, 327 bird species, 174 species of reptiles and amphibians and140 species of fish have been documented within. The coastal region is home to numerous species of fishes. For decades, this region has been supplying Nigeria with millions of tons of fish each year; offshore from Bakassi Island is one of the richest fishing grounds in West and Central Africa.. 7.3 Cabinda Cabinda covers of an area of roughly 12,000 square kilometers, 10,000 of which is land and the balance of which is occupied by rivers and lakes. It hosts 150 kilometers of coastline. Its climate is equatorial with vast expanses of tropical rain forest. The greater part of the country's a low plateau that in general terminates along the west in a series of steep hills. The surface soils are either sands or clays, and there are considerable areas of marshland. Elevations rise to the northeast, dissected by rivers flowing west to the Atlantic. Mount Muabi is Cabinda’s highest point at an elevation of 700 meters above sea level. Roughly twenty percent of Cabinda is covered by arable farmland, with actively farmed and pasture lands occupying an additional ten percent. Forests and woodlands make up the majority of the country, covering seventy percent of Cabinda’s landmass. Consisting largely of tropical forest, Cabinda produces hardwoods, coffee, cocoa, crude rubber and palm oil. Cabinda’s other resources include a variety of minerals – diamonds, gold, phosphates, uranium and others, along with a significant fishery. However, petroleum constitutes its most significant resource, by far.
Month
Average high
°C (°F)
Average low
°C (°F)
Precipitation
mm (inches)
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Year
30
(86)
23
(73)
58
(2.3)
31
(87)
23
(73)
109
(4.3)
31
(87)
23
(73)
84
(3.3)
31
(87)
23
(74)
117
(4.6)
29
(84)
23
(73)
56
(2.2)
26
(78)
21
(69)
0
(0)
26
(78)
18
(65)
0
(0)
26
(78)
19
(67)
3
(0.1)
27
(80)
21
(70)
5
(0.2)
28
(82)
23
(74)
33
(1.3)
29
(84)
23
(74)
114
(4.5)
28
(83)
23
(74)
89
(3.5)
28.2
(82.8)
22.0
(71.6)
668
(26.3)
Source: Wikipedia
Table 1: Climate data for Cabinda Kilimanjaro Capital Ltd .
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Infrastructure in Cabinda is typical for Africa: limited and generally poor outside of the capital city (Cabinda, also referred to as Tchiowa). Road access throughout the balance of the country is likely limited to a very few paved roads and numerous dirt roads in various states of repair depending on the time of year. There is an international airport in Cabinda; there is service from Angola proper, and probably South Africa, the DRC and perhaps Portugal, as well. There do not appear any railway lines in the country aside from what may exist along the coast to service the petroleum storage and shipping infrastructure, which is the best developed and most advanced in the country. Figure 6: Map of Cabinda Kilimanjaro Capital Ltd .
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8. GEOLOGICAL SETTING & KNOWN PETROLEUM & MINERAL RESOURCES 8.1 Biafra PETROLEUM The Niger Delta is one of the world’s largest Tertiary delta systems and a prolific hydrocarbon province. According to a study by the United States Geological Survey (“USGS”) published in 1999, known oil and gas resources of the Niger Delta rank the province as the twelfth largest in the world. To date (1999), 34.5 billion barrels of recoverable oil and 93.8 trillion cubic feet of recoverable gas have been discovered. In 1997, Nigeria was the fifth largest crude oil supplier to the United States, supplying 689,000 barrels per day of crude. Presently, Nigeria produces roughly 2.4 million barrels of oil per day, most of it from the Delta region. A more recent study by the United States Energy Administration (EIA) estimates Nigeria’s petroleum resources at between 16 and 22 billion barrels (3,500,000,000 cubic meters), but other sources claim there could be as much as 35.3 billion barrels (5,610,000,000 cubic meters), rendering Nigeria the world’s tenth most petroleum-­‐rich nation. Natural gas reserves are well over 187 trillion cubic feet (2,800 cubic kilometers); Nigeria’s gas reserves are three times as substantial as its crude oil reserves. All of the world’s major multinational oil companies as well as numerous parastatal companies from France, Italy, China and elsewhere, are active in the Niger Delta region. Sadly, lack of transparency, corruption, poor enforcement and other issues have resulted in significant pollution and human suffering, with little economic or other benefit reaching the citizenry. The Niger Delta, the majority of which lies within the boundaries of Biafra, is situated on the West African continental margin at the apex of the Gulf of Guinea, which formed the site of a triple junction during continental break-­‐up in the Cretaceous. Throughout its history, the delta has been fed by the Niger, Benue and Cross rivers, which between them drain more than 10,000,000 square kilometers of continental lowland savannah. Its present morphology is that of a wave-­‐dominated delta, with a smoothly seaward-­‐convex coastline traversed by distributary channels. From apex to coast the subaerial portion stretches more than 300 kilometers, covering an area of 75,000 square kilometers. Below the Gulf of Guinea, two enormous lobes protrude a further 250 kilometers into deeper waters. Kilimanjaro Capital Ltd .
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Figure 7: Generalized geological map of West Africa Kilimanjaro Capital Ltd .
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Figure 8: Geology of Nigeria & the Niger Delta The delta sequence comprises an upward-­‐coarsening regressive association of Tertiary clastics up to 12 kilometers thick. It is informally divided into three gross lithofacies: (i) marine claystones and shales of unknown thickness, at the base; (ii) alternations of sandstones, silstones and claystones, in which the sand percentage increases upwards; (iii) alluvial sands, at the top. Delta structure and stratigraphy are intimately related, the development of each being dependent on the interplay between sediment supply and subsidence rates. The dominant subsurface structures are syn-­‐ and post-­‐ sedimentary listric normal faults, which affect the main delta sequence. They die out upwards into the alluvial sands and sole out at depth near the top of the marine claystones. Major growth-­‐
fault trends cross the delta from northwest to southeast, dividing it into a number of structural and stratigraphic belts, referred to as “depobelts”, which become younger towards the south. The deltaic sequence in each of these depobelts is distinct in age, so that they actually represent successive phases in the delta’s history. Kilimanjaro Capital Ltd .
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Figure 9: Stratigraphy of the Niger Delta Hydrocarbons have been located in all of the depobelts of the Niger Delta, in good quality sandstone reservoirs belonging to the main deltaic sequence. Most of the larger accumulations occur in roll-­‐over anticlines in the hanging-­‐walls of growth faults, where they may be trapped in either dip or fault closures. In the 30 or 50 years since the first Kilimanjaro Capital Ltd .
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discoveries were made, approximately 4,000,000,000 (four trillion) cubic meters of oil and an un-­‐quantified but very substantial quantity of associated and unassociated gas have been discovered. Most fields are small, ranging up to 50,000,000 (fifty billion) cubic meters, though several larger fields contain recoverable reserves in excess of 80,000,000 (eighty billion) cubic meters. The hydrocarbons are found in multiple pay sands with relatively short columns, and adjacent fault blocks usually have independent accumulations. Figure 10: Map showing the petroleum fields and limits of the petroleum-­‐bearing sedimentary basin of Biafra (southern Nigeria) The tectonic framework of the continental margin along the West Coast of equatorial Africa is controlled by Cretaceous fracture zones expressed as trenches and ridges in the deep Atlantic. The fracture zone ridges subdivide the margin into individual basins, and, in Nigeria, form the boundary faults of the Cretaceous Benue-­‐Abakaliki trough, which cuts far into the West African shield. The trough represents the aforementioned failed arm of a rift triple junction associated with the opening of the South Atlantic. In this region, rifting started in the Late Jurassic and persisted into the Middle Cretaceous. In the region of the Kilimanjaro Capital Ltd .
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Niger Delta, rifting diminished altogether in the Late Cretaceous. After rifting ceased, gravity tectonism became the primary deformational process. Shale mobility induced internal deformation and occurred in response to two processes. First, shale diapirs formed from loading of poorly compacted, over-­‐pressured, pro-­‐delta and delta-­‐slope clays by the higher density delta-­‐front sands. Second, slope instability occurred due to a lack of lateral, basin-­‐ward, support for the under-­‐compacted delta-­‐slope clays. For any given depobelt, gravity tectonics are expressed in complex structures, including shale diapirs, roll-­‐over anticlines, collapsed growth fault crests, back-­‐to-­‐back features, and steeply dipping, closely spaced flank faults. These faults mostly offset different parts of the Agbada Formation and flatten into detachment planes near the top of the Akata Formation. Petroleum in the Niger Delta is produced from sandstone and unconsolidated sands predominantly in the Agbada Formation. Characteristics of the reservoirs in the Agbada Formation are controlled by depositional environment and by depth of burial. Known reservoir rocks are Eocene to Pliocene in age, and are often stacked, ranging in thickness from less than 15 meters to ten percent having greater than 45 meters thickness. The primary source rock is the upper Akata Formation, the marine-­‐shale facies of the delta, with possibly contribution from inter-­‐bedded marine shale of the lowermost Agbada Formation. Oil is produced from sandstone facies within the Agbada Formation, however, turbidite sand in the upper Akata Formation is a potential target in deep water offshore and possibly beneath currently producing intervals onshore. Most known traps in Niger Delta fields are structural although stratigraphic traps are not uncommon. The structural traps developed during syn-­‐sedimentary deformation of the Agbada paralic sequence. A variety of structural trapping elements exists, including those associated with simple rollover structures, clay filled channels, structures with multiple growth faults, structures with antithetic faults, and collapsed crest structures. The primary seal rock in the Niger Delta is the inter-­‐bedded shale within the Agbada Formation. The shale provides three types of seals: clay smears along faults; inter-­‐bedded sealing units against which reservoir sands are juxtaposed due to faulting; and, vertical seals. Kilimanjaro Capital Ltd .
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A somewhat dated (late 1990’s), public domain summary of oil companies active in Nigeria/Biafra (source: Wikipedia via Kilimanjaro) may be found below: Royal Dutch Shell Shell Petroleum Development Company of Nigeria Limited (“SPDC”, usually known simply as Shell Nigeria): a joint venture operated by Shell accounts for 50% of Nigeria's total oil production (899,000 barrels per in 1997) from more than eighty oil fields. The joint venture is composed of the Nigerian National Petroleum Company (“NNPC” -­‐ 55%), Shell (30%), TotalFinaElf (10%) and Agip (5%), and operates largely onshore on dry land or in the mangrove swamp are of the Niger Delta. The company operates more than 100 producing oil fields and a network of more than 6,000 kilometers of pipelines, flowing through 87 flow stations. SPDC operates two coastal oil export terminals. The Shell joint venture produces about fifty percent of Nigeria's total crude. Shell Nigeria owns concessions through four companies: SPDC, Shell Nigeria Exploration and Production Company (“SNEPCO”), Shell Nigeria Gas (“SNG”), and Shell Nigeria Oil Products (“SNOP”). Additionally, it holds a major stake in Nigeria Liquified Natural Gas (“NLNG”). Most of Shell's operations in Nigeria are conducted through SPDC. Chevron Chevron Nigeria Limited (“CNL”) operates through a joint venture between NNPC (60%) and Chevron (40%). Historically, Chevron was the second largest producer (approximately 400,000 barrels per day), with fields located in the Warri region west of the Niger river and offshore in shallow water. It is reported to aim to increase production to 600,000 barrels per day. Exxon-­‐Mobil Mobil Producing Nigeria Unlimited (“MPNU”) is joint venture between the NNPC (60%) and Exxon-­‐Mobil (40%); it operates in shallow water off Akwa Ibom state in the southeastern delta and averaged production of 632,000 barrels per day in 1997. Mobil also holds a 50% interest in a Production Sharing Contract for a deep water block further Kilimanjaro Capital Ltd .
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offshore, and is reported to plan to increase output to 900,000 barrels per day by 2000. It is headquartered in Eket and operates in Nigeria under MPNU. Agip Nigerian Agip Oil Company Limited (“NAOC”) is a joint venture operated by Agip and owned by the NNPC (60%), Agip (20%) and ConocoPhillips (20%). It produces 150,000 barrels per day, mostly from small onshore fields. Total Total Petroleum Nigeria Limited (“TPNL”) is a joint venture between NNPC (60%) and Elf (now Total) produced approximately 125,000 barrels per day during 1997, both on and offshore. Elf and Mobil are in dispute over operational control of an offshore field with a production capacity of 90,000 barrels per day. Texaco (now merged with Chevron) NNPC Texaco-­‐Chevron Joint Venture (formerly Texaco Overseas Petroleum Company of Nigeria Unlimited) is a joint venture operated by Texaco and owned by NNPC (60%), Texaco (20%) and Chevron (20%). It produces about 60,000 barrels per day from five offshore fields. COAL The sedimentary rocks in which Biafra’s petroleum resources are found are also host to significant coal deposits. Coal was first discovered in 1909 near Udi (central eastern Nigeria). In 1950, the Nigerian Coal Corporation (“NCC”) was formed and given the responsibility for exploration, development and mining the coal resources. The NCC is 100% owned by the Federal Government and is headquartered in Enugu. The NCC has operated two underground mines, Okpara and Onyeama, and two surface mines, Orukpa and Okaba, located on the eastern edge of the Anambra Coal Basin. Between 1950 and 1959, coal production in the Enugu mines increased annually from 583,487 metric tons (“tonnes”) to a peak of 905,397 tonnes. After 1959, production decreased significantly each year including the Civil War period of 1966 to 1970 when no coal production was reported. Production in the 1980’s was less than 100,000 tonnes annually and decreased Kilimanjaro Capital Ltd .
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further in the 1990s’. Much of this production was utilized by the railroad and some smaller tonnages were exported. NCC has not operated any coal mines for several years. A belt hosting lignite deposits stretching across southern Nigeria and across the middle of Biafra from west to east has been documented, with two large regions hosting thermal coal underlying a north-­‐south wedge in northern Biafra and further north into Nigeria proper (see Figure 11). A Nigerian government report characterizes Nigerian coal as low sulfur and low ash, rendering it ideal for coal-­‐fired electric plants; lesser resources hosting coking-­‐grade coal have been delineated. The Anambra Basin, located in south-­‐eastern Nigeria, appears to contain the largest and most economically viable coal resources. The basin covers an area of approximately 1.5 million hectares (15,000 square kilometers) and is constrained by the Niger River on the west, the Benue River on the north and the Enugu Escarpment on the east; this places a significant portion of it within Biafra. The coal is predominantly in one seam that outcrops along the eastern side of the basin at the base of the Enugu Escarpment and dips gently towards the center of the basin. Little is currently known about the coal resource potential on the western side of the basin along the east bank of the Niger River. However, outcrops of coal have been reported at Idah and Dekina on the north-­‐western side of the basin. Exploration within the basin is limited but there are four small coal mines in the eastern outcrops of the basin north-­‐west of the city of Enugu and two smaller mines further north. In addition, shallow drill holes have been drilled to depths of up to 335 meters; not all of these holes penetrated the main coal horizon. Where the seam has been intercepted by drilling, the potentially mineable coal ranges in thickness from less than one meter to over 3.6 meters. A study by Behre Dolbear & Company (USA), Inc. has subdivided the Anambra Coal Basin into seven coal mining districts, focusing on three that have been explored to a greater degree than the others. These have been defined as the Kogi, Benue (Orukpa-­‐Ezimo) and Enugu Coal Districts. Each of these districts has two or more defined coal resource areas. Kilimanjaro Capital Ltd .
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Figure 11: Map showing the distribution of known coal deposits in Biafra and Nigeria (green – lignite trend; yellow and orange – main thermal coal-­‐bearing areas); the red line indicates the approximate boundaries of Biafra Kogi District The Kogi Coal district, covering 225,000 hectares of the Anambra Coal Basin, lies on the north-­‐eastern side of the basin (this may place most of it beyond the northern boundary of Biafra). Two areas within the district have been explored to a limited degree; the more northern of the two areas, Ogboyoga, has the greatest amount of available drill data. Behre Dolbear estimated a total of 123 million metric tonnes of coal within an area of 8,900 hectares at this location. An additional 165 million tonnes of coal is projected to lie in the Ogboyoga area. The other area of interest is Okaba, where a 100 million tonne coal resource has been estimated to underlie 2,770 hectares, with an additional 435 million tonnes projected to the west of existing drilling. In total the Kogi District is estimated to host roughly 600 million tonnes of coal. Benue District The Benue coal district lies immediately south of the Kogi District along the eastern edge of the Anambra Basin, which would place virtually all of it within the boundaries of Biafra. It is subdivided into two areas: the more northern of the two is referred to as Orukpa, where Behre Dolbear estimates that a coal resource of 81 million tonnes with an additional 117 Kilimanjaro Capital Ltd .
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million tonnes projected to exist west of where drilling stopped; the average coal thickness is 3.1 meters. Immediately south of the Orukpa is the Ezimo area where a total of 43 million tonnes of coal resource has been projected; an additional 263 million tonnes believed to exist west of where drilling ceased. The average coal thickness in this area is also 3.1 meters. In total the Benue District (Orukpa-­‐Ezimo) is estimated to host 124 million tonnes within only 4,700 hectares, or three percent of the district. Figure 12: Stratigraphic section of the Anambra Basin from
the Late Cretaceous through the Eocene and time
equivalent formations in the Niger Delta. Enugu District The Enugu Coal District, encompassing some 270,000 hectares, is centered around Enugu City, south of the Benue District. This would place it virtually entirely within Biafra. This area hosts most of the historical commercial coal mining areas to be found in Biafra/Nigeria. Historical studies have estimated a coal resource of 49 million tonnes averaging 2.2 meters thick. An additional 111 million tonnes are inferred to exist west of one of the old mine workings. Kilimanjaro Capital Ltd .
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Figure 13: Geology map of Biafra (boundary in blue). Gray, yellow, orange, pale blue and green areas indicate Mesozoic-­‐Cenozoic sedimentary rocks; Pink and blue areas indicate Precambrian intrusive and metamorphic rocks MINERALS The vast majority of Biafra is underlain by Mesozoic (Cretaceous) and Cenozoic (Tertiary and younger) sedimentary rocks associated with the Niger Delta sedimentary system. Aside from organic deposits such as oil, gas, coal and coal bed methane, other mineral occurrences and possibly deposits that could be reasonably expected in this geologic setting include uranium, copper (with or without silver) and possibly lead (with our without zinc and/or vanadium). However, there is no readily available published information regarding whether or not such deposits or occurrences have actually be documented in Biafra. There are two areas hosting Precambrian granites and metamorphic rocks (schist) in the southeastern and northeastern corners of Biafra that could conceivably host a variety of base and precious metal deposits (copper-­‐lead-­‐zinc and gold-­‐
silver, respectively); however, there is no documented information in this regard that the writer has been able to find. Kilimanjaro Capital Ltd .
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8.2 Southern Cameroons PETROLEUM Overlapping the boundary between the Niger Delta and Doula basins, Southern Cameroons retains significant offshore petroleum resources. Cameroun began off shore oil production in 1977 across an area that includes both Southern Cameroons and southern Cameroun. Annual production has gradually fallen since 1985, and the decline is expected to continue as existing reserves are depleted. Output amounted to 76,600 barrels per day in 2001, down from 100,000 barrels per day in 1999. Even so, Cameroun is sub-­‐Saharan Africa's sixth-­‐largest crude oil producer, with output in 2003 of 67,000 barrels per day and estimated reserves of 400 million barrels as of January 1, 2004, according to the United States Energy Information Administration (EIA); it is unknown what proportion of this comes from the territorial waters of Southern Cameroons. As of 2002, major operators were ExxonMobil, Royal Dutch Shell, and Total S.A. The oil sector is managed by the national oil company Société Nationale des Hydrocarbures. Since 1970, 75 percent of crude oil produced in the triangle currently controlled by Cameroun comes from the Rio Del Ray offshore basin. This region lies entirely within the territory claimed by Southern Cameroons. Between 1975 to 1980, the Rio Del Ray basin produced 158,000 barrels per day; as of 2002 it was 70,000 barrels today, effectively all of Cameroun’s production at that time. Kilimanjaro Capital Ltd .
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Figure 14: Map showing the location of the Rio Del Ray basin and related oil fields Figure 15: Map showing oil & gas fields in the offshore triangle between Biafra (Nigeria), Southern Cameroons (Cameroun) & Equatorial Guinea (green – oil, red – gas) Kilimanjaro Capital Ltd .
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MINERALS Southern Cameroons comprises a swath of Late Precambrian (Pan African) metamorphic and intrusive rocks (mostly schists and granites, respectively), cut by Tertiary volcanic rocks related to a failed arm of a rift triple junction associated with the opening of the South Atlantic. Whereas iron, uranium and nickel-­‐cobalt deposits are known in Cameroun proper, nothing has been found by the writer covering Southern Cameroons; it is essentially a tabula rasa (blank slate). Given the host lithologies and ages, and the geological settings within which they are found there is, in principle, potential for both intrusive-­‐hosted, orogenic and epithermal gold (± silver), as well as a variety of base and/or precious metal deposits of various affiliations in the undifferentiated metamorphic rocks. Figure 16: Geology of Cameroun including Southern Cameroons (blue boundary) Kilimanjaro Capital Ltd .
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8.3 Cabinda PETROLEUM Estimates are that Cabinda accounts for close to 60 percent of Angola’s oil production, which is currently estimated at nearly 2 million barrels per day. Production is obtained from reservoirs both on-­‐ and offshore A 2005 report estimates Angola’s gas reserves to exceed 1.6 trillion cubic meters (56.5 trillion cubic feet). Chevron, Sonangol, Agip, Total, Eni and other multinational oil companies are active in Cabinda. Nevertheless, Cabinda remains one of the poorest provinces in Angola (an agreement in 1996 between the national and provincial governments stipulated that 10 percent of Cabinda’s taxes on oil revenues should be given back to the province, but Cabindans complain that corruption results in very little reaching the general population). The primary source rock in the Congo Delta basin is the syn-­‐rift Lower Cretaceous lacustrine shales of the Bucomazi Formation. Additional marine source rocks from the post-­‐rift section are marine shales and marls of the Upper Cretaceous Iabe Formation, the Paleocene to Eocene Landana Formation, and the Oligocene to Miocene Malembo Formation. Lacustrine oils generated from the Bucomazi are paraffinic. Oil generation began in the Late Cretaceous and has continued to the present. The migration pathways are mostly fault related, but some lateral migration has occurred below the Loeme Salt within the Chela Sandstone. Lacustrine oils charged many of the Upper Cretaceous and Tertiary turbidite channels and sandstones in the Congo Basin. In the shallow-­‐water areas of the Congo Basin, the majority of reservoir rocks are sandstones of both syn-­‐rift and post-­‐
rift age. A large number of reservoirs consist of carbonate rocks (about 50 percent limestone reservoirs, 50 percent dolomite reservoirs), mainly those found in the Albian Pinda Formation. Overall, porosities average about 21 percent and permeabilities average 450 millidarcies. In the deeper water prospects, reservoir rocks are expected to represent primarily Oligocene and Miocene turbidite channels and basin-­‐floor fans and mounds. Trap formation most likely began in the Lower Cretaceous (late Neocomian to Barremian) when a second phase of rifting and subsidence developed in the central part of the Aptian Kilimanjaro Capital Ltd .
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salt basin. The thick regional evaporite sequence deposited in Aptian time and the subsequent salt deformation had a major influence on both structure and facies distribution related to trap development. In the shallow-­‐water areas, traps are mostly anticlinal; some are related to rollovers and others are related to fault blocks or paleo-­‐
topography. Seal rocks are Cretaceous to Tertiary lacustrine and marine shales. In deeper water, traps are both stratigraphic and structural and include turbidite channels and sandstones and ponded or thickened, growth-­‐fault-­‐related sandstones sealed by shales. Only a portion of this Angola’s petroleum resources fall within the boundaries and territorial waters of Cabinda (see Figures 17-­‐19 and 21-­‐22). However, the known petroleum reserves and resources (and potential future resources) within this portion of the basin are very significant and a major contributor to the Angolan economy. Figure 17: Cabinda’s onshore petroleum blocks Kilimanjaro Capital Ltd .
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Figure 18: Oil & gas fields in offshore Cabinda and adjacent jurisdictions Figure 19: Detail of Cabinda’s offshore petroleum reservoirs Kilimanjaro Capital Ltd .
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Figure 20: Generalized stratigraphy of the Congo Basin Kilimanjaro Capital Ltd .
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Figure 21: The Congo Delta and related offshore petroleum basins Kilimanjaro Capital Ltd .
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Figure 22: Stratigraphic position of Cabinda’s & related jurisdictions offshore petroleum resources Kilimanjaro Capital Ltd .
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MINERALS Angola can be subdivided into five main regional geological units, two of which may be found in Cabinda (see Figure 23). Quaternary to Tertiary sedimentary rocks comprising sand, quartz-­‐rich sandstone, gravel and clay extend over nearly half of Angola, including the entire eastern part. Pleistocene to Cretaceous marine sediments lie in a series of coastal basins on the western margin of Angola Mesozoic to Paleozoic sediments equivalent to the Karoo Supergroup occur mainly in the Cassanje graben. Diverse sub-­‐volcanic and volcanic bodies occur including kimberlites and carbonatites along a major south-­‐west to north-­‐east trend line across Angola, as well as basalt, dolerites, syenites, trachytes and phonolites . Upper Proterozoic fold belts (Pan African age) occur along the margins of Angola´s Precambrian shield, the most important being the West-­‐Congo, Damara and Maiombe-­‐Macongo. They are characterized by the occurrence of base metal mineralization and a variety of industrial minerals Lower Proterozoic to Archean rocks from the Angolan, Maiombe, Cassai and Bangwelo shields and the Kwanza horst. Granite-­‐gneissic terrain meta-­‐volcano sedimentary (greenstone) belts are present in south-­‐central Angola (Cassinga and Menongue). The Cunene basic (ultrabasic) complex occupies 20 000 square kilometers in the south-­‐western part of the Angolan shield. In Cabinda itself, only Cretaceous-­‐Quaternary and Proterozoic rock units are found. Marine coastal basins of Lower Cretaceous to Quaternary age host onshore oil and gas reserves. Also associated with the coastal basins are low-­‐grade stratabound copper deposits along with asphalt, bitumen and a number of industrial and chemical minerals, including salt, potash, phosphate, sulfur, gypsum and limestone. Upper Proterozoic fold belts (Pan African age) occur along the margins of Angola´s Precambrian shield, the most important being the West-­‐Congo, Damara And Maiombe-­‐Macongo. They are known to host base metal mineralization (including sediment-­‐hosted copper) and a variety of industrial minerals. There is no readily available public domain data documenting which of these commodities are known in Cabinda; however, all are found within rock units that are known to extend across Cabinda. Kilimanjaro Capital Ltd .
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Figure 23: Geology of Angola (including Cabinda) Kilimanjaro Capital Ltd .
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9. PROPERTY DESCRIPTION & AGREEMENTS 9.1 Biafra On November 16, 2012, an agreement was signed between Kilimanjaro Capital Ltd. and the Biafra Government in Exile. The agreement covers all onshore and offshore oil and mineral rights in Biafra (specified to comprise over 29,848 square miles), in other words, the entire presumptive country. Quoting from the agreement document, it assigns “forty-­‐
nine percent (49%) of all offshore oil, gas, and hydrocarbon exploration and development rights as indicated infra” (i.e. as further described later in the agreement document), rights that are to be vested “upon decolonization of Biafra … deemed to occur when Biafra is internationally recognized as either the de facto or de jure government of Biafra and exercises substantial physical control over the property described herein”. The Biafran government is to retain “a 51% non participatory ownership, back in rights as to oil and gas and royalty rights”, rights that it may assign according to certain conditions that are specified in the agreement document. Under the agreement, Kilimanjaro must initiate exploration and file a work program within 18 months of Biafra obtaining independence, upon which “the Republic of Biafra shall issue an Exploration License at no cost to the Assignee”. The principal term of the agreement is 20 years, with an additional 20 years at the option of the Biafran government “if decolonization has been achieved and upon decolonization an exclusive 20 year period of exploration and development shall commence”. The agreement further states that the Assignee (Kilimanjaro) “is guaranteed a waiting period of up to 40 years and 20 years of exploration, development and operations beginning upon decolonization”. A condition of this term is that Kilimanjaro “must provide a significant benefit to Biafra by either generating royalties in excess of $20,000 or some other mutually agreed upon material benefit to Biafra” within the same 18 month period as for the work program. An unspecified “signing bonus fee” was paid upon execution of the agreement. Royalty provisions are summarized as follows: Kilimanjaro Capital Ltd .
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•
50% of all First Generation sales of oil and mineral interests and 10% of any subsequent transactions or transfers for consideration; •
An asset based prorated 20% of any Initial Public Offering of stock by Kilimanjaro based upon the value of the asset in respect to the total value of Kilimanjaro; •
A 5% Royalty upon production which extends to all future assignees and transferees; •
Back in Rights amounting to a 51% working interest in any producing well after the operator(s) have recovered 400% of all costs of production. In the event of exercise of these rights, all Royalties are waived. Kilimanjaro retains the right to assign, sell or farm out its rights in whole or in part. Figure 24: On-­‐ and offshore petroleum leases in the Niger Delta (the majority of which fall within the boundaries of Biafra) Kilimanjaro Capital Ltd .
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9.2 Southern Cameroons On May 22, 2012, an agreement was signed between Kilimanjaro and the Government of Southern Cameroons. The agreement covers four license blocks in Southern Cameroons, comprising Southern and Northern Bakassi Peninsula and an offshore block, described in greater detail in the body of the agreement (summarized below). The basic structure of the agreement is very similar to that signed with the Republic of Biafra. It assigns “forty-­‐nine percent (49%) of the ownership and the entire and exclusive rights to onshore and offshore oil, gas, mineral and hydrocarbon exploration and development rights for the contiguous regions of Southern Cameroons including the Bakassi Peninsula, rights that “will fully vest upon self determination (decolonization) of Southern Cameroons … deemed to occur when Southern Cameroons is internationally recognized as either the de facto or de jure government and exercises substantial physical control over the property described herein”. The government of Southern Cameroons is to retain “a 51% non participatory ownership, back in rights as to oil and gas and royalty rights”, rights that it may assign according to certain conditions that are specified in the agreement document. The principal term of the agreement is 20 years, with an additional 20 years at the option of the government of Southern Cameroons “if decolonization has been achieved and upon decolonization an exclusive 20 year period of exploration and development shall commence”. The agreement further states that the Assignee (Kilimanjaro) “is guaranteed a waiting period of up to 40 years and 20 years of exploration, development and operations beginning upon decolonization”. There is a work program requirement under which Kilimanjaro must commence exploration and file a work program within 18 months from the date of self determination. Additionally, there is a ”Conditional Period” of 18 months (from the same date) within which Kilimanjaro “must generate royalties of a confidential amount or some other mutually agreed upon material benefit to the government”. This section of the agreement further stipulates that “Kilimanjaro must also produce and maintain a professional website Kilimanjaro Capital Ltd .
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… to promote and sell its Southern Cameroon assets”. An unspecified “signing bonus fee” was paid upon execution of the agreement, consisting of two installments. Royalty provisions are summarized as follows: •
50% of all First Generation sales of oil and mineral interests and 10% of any subsequent transactions or transfers for consideration; •
An asset based prorated 20% of any Initial Public Offering of stock by Kilimanjaro based upon the value of the asset in respect to the total value of Kilimanjaro; •
A 5% Royalty upon production which extends to all future assignees and transferees; •
Back in Rights amounting to a 51% working interest in any producing well after the operator(s) have recovered 400% of all costs of production. In the event of exercise of these rights, all Royalties are waived. Kilimanjaro retains the right to assign, sell or farm out its rights in whole or in part. The blocks are described in an attachment to the agreement, as follows: Southern Block The southern hydrocarbon block or Buea region includes the Mamfe basin which abuts the Bakassi Peninsula and Rio del Rey basin which Société Nationale des Hydrocarbures (“SNH”) has offered for exploration. The oil potential is unknown however the location between Bakssi and the Niger Delta Region shows excellent potential. Northern Block The potential of the Northern Block is not fully known however the presence of hydrocarbon assets in the Mbem Valley in the northern highlands has been noted. The Bakassi Peninsula is considered one of the most valuable untapped sources of oil in Kilimanjaro Capital Ltd .
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the region. According to the SNH, the Bakassi peninsula has oil reserves of about 120 million barrels. While exploration has been discussed, production is not currently feasible due to a three way dispute between Nigeria, Republique du Cameroun, and Southern Cameroons over control of the region. Local independence advocates have largely blocked exploration efforts. Offshore Blocks The offshore situation in Southern Cameroons is unclear, as some of this area may be considered a production zone, a value is not offered but in the event of a regime change, properties of the SNH would revert to Southern Cameroons. As such this may be considered a chose in action claim rather than a future contingent interest. Mineral Resources Currently much of Southern Cameroon is not under mineral exploration. Gold, diamonds, uranium, iron, bauxite, and manganese are known to exist in the region. There has been some historical exploration in the area. It is reported that the government of La Republique du Cameroon engaged three international companies: Firestone Diamonds UK, Adamus Resources Australia, and Ashton Mining Canada. These companies halted their operations in June 1990 because of the tense political atmosphere at the time. In 1998, Adamus Resources made its return alongside Ashton Mining. In 2003, they submitted a report of their first findings. In 2007, both companies signed an agreement with a local partner and there were plans to begin exploitation. Adamus Resources and Ashton Mining were to provide technical back up. In September of 2010, a serious disagreement erupted between the partners and their local partner. The diamond, and especially gold exploitation has since then been put on hold . *Note: The writer has not been able to independently verify whether or not there is any significant gold or diamond potential in Southern Cameroons. Kilimanjaro Capital Ltd .
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On January 30, 2013, Forest Gate Energy, a publicly listed Canadian petroleum company, announced that it had “acquired a 20 percent contingent interest in the future petroleum and mineral licenses of Southern Cameroons”, in an agreement signed with Kilimanjaro covering the four aforementioned license areas (blocks). The terms and conditions of the agreement were not disclosed. Figure 25: Offshore petroleum leases, Nigeria/Biafra (medium green) and Cameroun/Southern Cameroons (pale green) 9.3 Cabinda There are three agreements involving Kilimanjaro and the Republic of Cabinda. 9.3.1 Cabinda – Kilimanjaro (Northeast Block – Onshore Petroleum) The first , signed on October 1, 2012, an agreement was signed between Kilimanjaro and the Republic of Cabinda (Republic of Kabinda) and the Front for the Liberation of the State of Kabinda – Cabinda, which the agreement further states “are the de facto government of Kilimanjaro Capital Ltd .
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Cabinda”. The agreement confers “the entire and exclusive future hydrocarbon rights to the Northeast Block the boundaries of which are known to the parties but equate to the standard boundaries utilized by Sonangol”. The “Principal Term” of the lease, contained in the Oil Rights Conveyance document, is stated as being 99 years, from February 1, 2013 through February 2, 2112 (Article 4.1). Kilimanjaro paid an unspecified signing fee, and is obliged to pay a 10% royalty upon transfer of all or part of the block. Second Generation transfers are subject to a 5% royalty; however, there are no restrictions on the transfer of rights. Figure 26: Map showing the location of the South (“CS” -­‐ pink), Central (“CC” – pale blue) North (“CN” -­‐ pink) and Northeastern (green) blocks Kilimanjaro’s Northeast block is located close to the Loufika discovery in Congo, made by French oil group Maurel & Prom SA in 2006. The Loufika-­‐1 exploration well intersected a 100 meter thick sandstone reservoir at a depth of 551 meters, of which the upper 50 meters are oil-­‐bearing. It also borders the Kouakouala field where in 2005 Heritage Oil (Canada) announced that its first commercial well in the Kouakouala field, well KKL 401, tested at an initial flow rate of 1,600 barrels per day. Kouakouala, which began production in May 2000, has an average output of 1,500 barrels per day at the four wells currently in operation (however, output on the field is expected to increase following the completion of a water injection program). Kilimanjaro Capital Ltd .
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Kilimanjaro’s Cabinda Northeast block has effectively been under the control of Front for the Liberation of the State of Cabinda (“FLEC”) for almost four decades. This block has never been explored but is viewed as hosting significant petroleum potential. 9.3.2 Cabinda – Kilimanjaro (South, Central and North Blocks – Onshore Petroleum and Minerals) On March 9, 2013, Kilimanjaro signed an agreement with the Republic of Cabinda and the Front for the Liberation of the State of Kabinda – Cabinda that conveys all petroleum and mineral rights over the onshore South, Central and North blocks (see Figure 26). The terms of the agreement are essentially the same as those in the first agreement (Section 9.3.1) i.e. 99 years commencing on March 15, 2013. Very little is known about the onshore petroleum resources and potential. Sonangol has at various times apparently held rights to these license blocks. Likewise, the mineral potential of these areas is not well known although given the lithologies documented on the geological map of Angola (see Figure 23) the reports of uranium and phosphate deposits in the southwest (Cretaceous-­‐Quaternary sedimentary rocks) and gold in the northeast (Proterozoic basement rocks) are not unreasonable. 9.3.3 Cabinda – Kilimanjaro (Blocks 0 & 14 – Offshore Petroleum) The third agreement, signed on November 16, 2012, is between the same parties, namely, Kilimanjaro and the government of Cabinda etc. It is similar in structure to the agreements signed between Kilimanjaro and the governments of Biafra and Southern Cameroons. There is a work program requirement under which Kilimanjaro must commence exploration and file a work program within 18 months from the date of self determination. Additionally, there is a ”Conditional Period” of 18 months (from the same date) within which Kilimanjaro “must generate royalties of a confidential amount or some other mutually agreed upon material benefit to the government”. This section of the agreement further stipulates that “Kilimanjaro must also produce and maintain a professional website Kilimanjaro Capital Ltd .
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… to promote and sell its Cabinda assets”. An unspecified “signing bonus fee” was paid upon execution of the agreement. Royalty provisions are summarized as follows: •
50% of all First Generation sales of oil and mineral interests and 10% of any subsequent transactions or transfers for consideration; •
An asset based prorated 20% of any Initial Public Offering of stock by Kilimanjaro based upon the value of the asset in respect to the total value of Kilimanjaro; •
A 5% Royalty upon production which extends to all future assignees and transferees; •
Back in Rights amounting to a 51% working interest in any producing well after the operator(s) have recovered 400% of all costs of production. In the event of exercise of these rights, all Royalties are waived. Figure 27: Blocks 0 & 14, Cabinda offshore leases Kilimanjaro’s Block 0 concession is operated by Chevron. The block is divided into Areas A and B. Together they contain 21 fields where total production in 2010 was 365,000 barrels of liquids per day (116,000 net). Kilimanjaro’s Block 14, a deep-­‐water concession, is also Kilimanjaro Capital Ltd .
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operated by Chevron. West of Block 0, Block 14 averaged 187,000 barrels of liquids per day (29,000 net) in 2011 from the Benguela Belize–Lobito Tomboco, Kuito and Tombua-­‐
Landana fields. Since 1995, Block 14 has undergone an aggressive exploration program that has resulted in 11 discoveries. Cabinda does not recognize the Chevron license but acknowledges and claims for itself the right to recompense from Chevron for production dating back to 1975. 9.3.4 Cabinda – Maiombe (Onshore Minerals) The fourth agreement is between the Republic of Cabinda (and the Front for the Liberation of the State of Cabinda) and Maiombe Ouro e Minerais Ltd., a Belizean mining company that is a partly owned subsidiary of Kilimanjaro (49%). Signed on January 29, 2013, it conveys “entire and exclusive rights to the Maiombe Mining District”, the approximate location and boundaries of which are displayed in the map, below (Figure 28). The agreement further states that “the attached map reflects the initial leased area which however may be expanded at the discretion of the parties to include neighboring mining regions”. Hydrocarbon rights are excluded. Rights vest upon decolonization in Cabinda. Figure 28: Map of Cabinda showing the approximate location and boundaries of Kilimanjaro’s mineral rights license Kilimanjaro Capital Ltd .
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The Principal Term of the agreement is twenty (20) years, commencing on February 1, 2013 and terminating on February 2, 2023, notwithstanding that there is no current timetable for decolonization. A Signing Fee comprising 30,000 common non-­‐voting shares of Maiombe was paid (equal to a current 30% equity stake in Maiombe), to be held in escrow until August 1, 2013. Rights are transferable but any second generation rights holders shall be subject to a 5% royalty on production and will be required to commence “substantive operations or reach a delay rental agreement with Cabinda within 3 years or their interest will revert to Cabinda”. Gold mining in Angola has largely been concentrated in the Maiombe region of Cabinda province, hosted in the Proterozoic basement rocks. Some 90 percent of Angola’s gold production is from the area. The presence of uranium and phosphate deposits has also been documented in Cabinda, most likely in the Cretaceous-­‐Quaternary sedimentary rocks that comprise the southwestern half of Cabinda. Kilimanjaro Capital Ltd .
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10. VALUATION All of Kilimanjaro’s assets are future contingent interests, which vest fully upon self determination of the countries involved. The Canadian Bankruptcy and Insolvency Act (R.S.C., 1985, c. B-­‐3), Section 2 defines property as: “[A]ny type of property, whether situated in Canada or elsewhere, and includes money, goods, things in action, land and every description of property, whether real or person-­‐al, legal or equitable, as well as obligations, easements and every description of estate, interest and profit, present or future, vested or contingent, in, arising out of or incident to property.” Nearly identical wording is found in the Bankruptcy Code of New South Wales definition of property: “real or personal property of every description either situate in Australia or elsewhere, and includes any estate, interest or profit, whether present or future, vested or contingent arising out of or incidental to any such real or personal property." Likewise the law of England defines property thusly: "property" includes money, goods, things in action, land and every description of property wherever situated and also obligations and every description of interest, whether present or future or vested or contingent, arising out of, or incidental to, property. The main qualifier is that the future or contingent interest must be based on underlying property as opposed to a lottery ticket or coupon which is not incidental to property. Under the common law one may also speak in terms of an Incorporeal Herediment, which is anything that is inheritable and not tangible or visible. It may also be a right issuing out of a corporeal thing but not the substance of thing itself. It is well recognized in Canada that an unvested interest is property. There are several instances wherein public companies listed on the London-­‐AIM and Toronto Venture Exchanges have invested in future contingent property have invested in resources rights that vest upon decolonization or independence. The best known examples involve future hydrocarbon rights sold by the exile Saharawi Arab Democratic Republic (SADR) situated in territory claimed and long occupied by Morocco. Kilimanjaro Capital Ltd .
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Ophir Energy PLC holds four such blocks obtained from the SADR, where it has a 50 percent operating interest. Similarly, Wessex Exploration PLC holds future exploration rights to 60,000 square kilometers in Western Sahara. In the case of Kilimanjaro itself, Toronto Venture Exchange-­‐listed Forest Gate Energy (TSXV:FGE) has recently acquired a 20 percent future interest in Southern Cameroons from Kilimanjaro Capital. In each of the above cases, public companies have acquired future contingent property interests from an exile government without objection by their listing exchanges. An unrecognized government requires no diplomatic recognition to conduct itself under international law. International courts have repeatedly accorded legal standing to unrecognized governments. Unrecognized governments may conduct commercial transactions and have them recognized by domestic courts. In addition numerous public companies have entered into production and exploration agreements with internationally unrecognized governments in Puntland and Somaliland including TSX-­‐listed companies Africa Oil and Horn Petroleum and London AIM-­‐ and ASX-­‐listed Range Resources Ltd. Consequently, however contingent the petroleum and mineral rights that Kilimanjaro has obtained may be, they are legally recognized, real property assets. On the other hand, their actual value from a practical point of view will only be realized upon the jurisdictions within which they exist obtaining independence (that can be maintained both in theory and in practice). In terms of placing a value on these assets, there is no recognized mechanism by which to estimate them; they can only be described. The writer’s view is that these descriptions speak for themselves and that if any of the jurisdictions in which these rights have been obtained were to achieve independence and the rights accorded in the agreements vested, the value of the agreements and the rights contained therein would be immense notwithstanding the degree to which they might be discounted or contested. Although no known methodology exists to estimate the value of these various rights described herein, Kilimanjaro plausibly values the assets current worth at no less that US $150 million. Kilimanjaro Capital Ltd .
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11. REFERENCES Africa Oil Corp., 2013: SOMALIA (PUNTLAND) (http://www.africaoilcorp.com/s/Puntland.asp?ReportID=505141). Afrol News, 2013: ANGOLA SEEKS TO INCREASE INVESTMENTS IN MINING (http://www.afrol.com/articles/18320). Brownfield, M.E., & Charpentier, R.R., 2006; GEOLOGY AND TOTAL PETROLEUM SYSTEMS OF THE WEST-­‐CENTRAL COASTAL PROVINCE (7203), WEST AFRICA, U.S. Geological Survey Bulletin 2207-­‐B, U.S. Department of the Interior, U.S. Geological Survey. Cabinda Free State, 2013: WEBSITE OF THE GOVERNMENT OF CABINDA (http://www.cabinda.net/). Chevron, 2013: ANGOLA FACT SHEET (http://www.chevron.com/documents/pdf/AngolaFactSheet.pdf). Doust, H., 1990; PETROLEUM GEOLOGY OF THE NIGER DELTA, Geological Society, London, Special Publications. Forest Gate Energy, 2013: FOREST GATE ACQUIRES OIL AND MINERAL INTERESTS IN SOUTHERN CAMEROONS, AFRICA (http://www.forestgate.ca/content.php?item=press&id=233). Infield Systems Limited, 2011; WEST AFRICA 2011 OFFSHORE OIL AND GAS
CONCESSION MAP, Offshore Magazine
(http://www.offshoremag.com/content/dam/etc/medialib/platform-7/offshore/mapsand_posters/OWAMap2011-112811Ads.pdf).
Levy, Jonathan, 2013: LEGAL ANALYSIS OF FUTURE CONTINGENT PROPERTY,
internal Kilimanjaro report. Ministry of Mines and Steel Development, 2010; COAL EXPLORATION AND POWER GENERATION OPPORTUNITIES IN NIGERIA, Nigerian Geological Survey Agency. Ophir Energy PLC, 2013: OUR ASSETS – SAHAWARI ARAB DEMOCRATIC REPUBLIC (SADR) (http://www.ophir-­‐energy.com/our-­‐assets/our-­‐assets.aspx). opportunities in Nigeria Pinheiro, O., 2010; MINERAL RESOURCES OF ANGOLA, ITS IMPORTANCE FOR THE SOCIO-­‐
ECONOMIC AND SUSTAINABLE DEVELOPMENT OF THE COUNTRY, Ministry of Geology, Mines & Industry, Republic of Angola, International Workshop on United Nations Framework Classification for Fossil Energy and Mineral Reserves and Resources 2009 (UNFC-­‐2009), 21-­‐22 June 2010. Kilimanjaro Capital Ltd .
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Range Resources, 2013: PUNTLAND – EXPLORATION (http://www.rangeresources.com.au/operations-­‐puntland.asp). Tuttle, M.L.W., Charpentier, R.R., & Brownfield, M.E., 1999; THE NIGER DELTA PETROLEUM SYSTEM: NIGER DELTA PROVINCE, NIGERIA, CAMEROON, AND EQUATORIAL GUINEA, AFRICA, Open-­‐File Report 99-­‐50-­‐H, U.S. Department Of The Interior, U.S. Geological Survey. Wessex Exploration, 2013: WESTERN SAHARA, NORTHWESTERN AFRICA (http://www.wessexexploration.com/Western-­‐Sahara.html). Wikipedia, 2013: BIAFRA, from Wikipedia the Free Encyclopedia (http://en.wikipedia.org/wiki/Biafra). Ibid, 2013: THE REPUBLIC OF CABINDA, from Wikipedia the Free Encyclopedia (http://en.wikipedia.org/wiki/Republic_of_Cabinda). Ibid, 2013: SOUTHERN CAMEROONS, from Wikipedia the Free Encyclopedia (http://en.wikipedia.org/wiki/Southern_Cameroons). Kilimanjaro Capital Ltd .
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