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  Economics : Break-Even

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Appendix 1. Anadarko Basin Acronyms 2. Corporate Structure 3. Black Mesa Production, LLC 4. Single Well Breakeven Prices 5. Notes 6. Glossary brookside-energy.com.au 13
Brookside Energy Limited
July 2019

OIL BREAKEVENS BY SHALE PLAY IN THE U.S. Breakeven Oil Price (/BBL) 60 50 40 30 20 10 - Permian Basin considered among the top oil shale plays in North America with a breakeven oil price of less than 30/BBL 11 Source: Citi Research Report (4/11/2018) Breakeven oil price assumes 3/MMBtu flat gas price
Pioneer Natural Resources Co.
December 2018

Stone is Now Focused in Low Cost Deep Water GOM 140 Gulf of Mexico Oil Supply Cost 120 D N u i Oil Sands 100 o (Mining) v b US/bbl (Brent) Stone A e r l Bone Bakken Wolfcamp a Ua Eagle Ford r r 80 Spring t n a Oil Sands SAGD i s a ck C a GOM y 60 r aa M Lwr U o d S n i Tert t u 40 n e m D y W 20 0 0 10,000 20,000 30,000 40,000 50,000 60,000 70,000 80,000 Source: Wood Mackenzie as of March 2016 Commercial oil and condensate reserves undrilled locations and future project only (mmbbl) 5
Stone Energy Corp.
March 2017
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