NAPE International Pavilion Presentation 22 nd February 2012 Large - PowerPoint PPT Presentation

NAPE International Pavilion Presentation 22 nd February 2012

Large Prospect Inventory • Over 4,500 sq. kms of 3D data covering entire licence & northern part of basin • 3D is excellent quality and illuminates geology of basin • Competent Persons Report Issued • 28 prospects identified – 6 structural, 22 stratigraphic • Best Estimate resource potential 2,107mmbo, with upside of 7,301mmbo • Large inventory of prospects, supported by excellent quality 3D seismic • Plays de-risked by adjacent discoveries • Several prospects with similar seismic anomalies to Sea Lion • Operationally straightforward, WD<500m, TD<3000m, DHC c.$30mm February 2012 2

North Falkland Basin Tectonic Elements Zeus February 2012 3

Zeus & Demeter Prospects Zeus Line Section A’ A Demeter Zeus February 2012 4

Early Cretaceous Basin Floor Architecture February 2012 5

Early Cretaceous Lacustrine Delta Seismic Line A’ A February 2012 6

Paleogeography, Plays & Leads Lower Early Post Rift February 2012 7

Paleogeography, Plays & Leads Upper Early Post Rift February 2012 8

Schematic Cross-Section Northern North Falkland Basin A’ A February 2012 9

Rhea Stack (Selene, Kratos D&E, Rhea & Poseidon B,C,D&E) Selene Kratos Rhea Poseidon Mmbo P90 66 P50 346 P10 1,193 February 2012 10

Rhea Stack (Selene, Kratos D&E, Rhea & Poseidon B,C,D&E) February 2012 11

Rhea Prospect Amplitude Anomaly February 2012 12

Kratos Stack (Oceanis, Iris, Kratos A,B&C, Elphis, Poseidon A) Oceanis Iris Kratos Elphis Poseidon Mmbo P90 51 P50 214 P10 625 February 2012 13

Kratos Stack (Oceanis, Iris, Kratos A,B&C, Elphis, Poseidon A) February 2012 14

Kratos Prospect Amplitude Anomaly February 2012 15

Helios Stack (Helios, Metis & Triton) Triton Helios Metis Mmbo P90 61 P50 790 P10 2,990 February 2012 16

Helios Stack (Helios, Metis & Triton) February 2012 17

Helios Stack (Helios, Metis & Triton) A A’ February 2012 18

Amplitude Map at Base of Helios Fans A A’ February 2012 19

Summary Potential of Argos Licence PL001 • Adjacent to Sea Lion / A significant piece of Johnson – A Good Address • Identified more prospectivity than expected, supported by excellent 3D seismic data • Several prospects with seismic anomalies similar to Sea Lion • Vertical wells & simple side-tracks can test multiple targets Operating Environment • Top Quartile Fiscal Terms • Transparent & Supportive Business Environment • Infrastructure & Logistics Established for Year-Round Operations • Sea Lion Success will Stimulate Further Exploration February 2012 20

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