EXCELLENCE IN OIL AND GAS SYDNEY 2010 Paul D Moore CEO
Company Overview Asset Base Details 18.78% indirect interest First Oil October 2008 Galoc Oil Field 4.5 million bbls (gross) produced to date Philippines Current production rate 10,000 bopd Phase 2 development evaluation…
Reserves, Resources and Exploration Developing Reserves And Resources Prospect And Lead Inventory Otto Net 2P Reserves plus 2C Resources Licence Working Area Prospects/ (MMboe) Interest (km2) Leads As at 30 June 2009 9.00…
Galoc Oil Field Production Performance Interest Gross Daily Oil Production 18.8% indirect interest in Galoc Oil Project Galoc Daily Oil Production Galoc Daily Oil Production Held through 31.4% shareholding in GPC 20,000 5,000,000…
Edirne Gas Fields Second Producing Asset Technical/Operational Phase 2 Exploration/Appraisal drilling Connection to Botas grid completed Six well drilling campaign ongoing. First sales gas produced 8 April 2010 3 discoveries to date…
Philippines Exploration Major Upside Potential Across Multiple Licences Philippines Permits Permit Description p Otto Working g Interest SC55 Deepwater Palawan 85% SC51 East Visayan basin 80% SC69 East Visayan basin 70%…
Philippines Exploration: SC55 SC55 Prospects And Leads Interest 85% working interest 85% working interest Exploration Program 600 km2 of 3D seismic acquired Jan 2010, over Hawkeye prospect BHPB seismic acquisition & farm in…
Philippines Exploration: SC51 SC51 Prospects and Leads SC51 80% working interest Vilaba Gas Discovery SC51 North Argao Prospect in 230m water Maya Field 3D recorded in 2007 Drillready prospect Libertad Field Targetting 100…
Philippines Exploration: SC69 SC69 70% working interest g Proven petroleum system Large reef structures Significant Information, Education and Communication campaign Si ifi t I f ti Ed ti dC i ti i with DOE and local…
2010 Activities Production in 2010 Forward Activities Galoc 0.4 mmbbls (net) Turkey 1.3 Bcf (0.23 mmboe) (net) Development Galoc production upgrade Commit to Galoc Commit to Galoc Phase 2 Phase 2 Exploration + static…
Summary Strategic focus: Production: Maximise value from Galoc oil project Commercial production delivered from Edirne gas project Development: Explore/appraise in and near field to extend production in Galoc and Edirne projects…