Sastry Karra

Karra Oil & Gas

- Karra Oil & Gas (KOGL) is a Nigeria-focused oil company founded by Chief Sastry Karra - Karra Oil & Gas has a 70% working interest in OML 141NW in Nigeria through a Risk Service Contract - Target to commence production from the Barracuda field in OML 141NW at 10,000 bopd by end-2018 and grow to 25-30,000 bopd in within 2 years - Resources Report from Ryder Scott indicates 250mmbbl of oil resource in place in OML 141 NW Area. Management expects approximately 80mmbbl to 120mmbbl of this will be recoverable - OML 141 NW Area is located only 12km from the coastal Brass export terminal - KOGL will construct an underground pipeline to Brass using horizontal drilling - Company has draft offtake agreement with Shell to purchase crude production - Experienced international management team with decades of experience in Nigeria