Cost $m Drill Plan A1: Drill SSA Demob Rig Rig Penalty Tie In SSA Flowline Tie In SS10

Flowline Pre-Cooling Facilities -28 -4 -1 -3.2 -0.8 -4.2 -41.2 -28 -17 -8 -3.2 -0.8 -4.2 -6 -67.2 -28 -17 -3.2 -0.8 -4.2 -6 -59.2 -28 -8 -4 -3.2 -0.8 -4.2 -48.2 -28 -16 -3.2 -0.8 -4.2 0 -52.2

Assumptions

WO of SS10 at a later date with SU WO dates would depend on flowing at corrosion limation rate or earlier if full potential Drill SSH at a later date to suit market offtake conditions Flow SS10 within Flow Accelerated Corrosion rates and replace when required (5yrs)?

Drill Plan B:

Drill SSA Drill SSH WO SS10 - Rig Tie In SSA Flowline Tie In SS10 Flowline Pre-Cooling Facilities Tie In SSH Flowline

Full Program Demob price included in SSH

Well Drill Plan ADrill Plan A1Drill Plan BDrill Plan CDrill Plan C1/2/3Drill Plan D SS3 8 8 8 8 8 8 SS4 10 10 10 10 10 10 SS5 0 0 0 0 0 0 SS7 20 20 20 20 20 20 SS9 0 0 0 0 0 0 SS10 41/55 41 55 60 41 55 60 SSA 60 60 60 60 60 60 SSH 0 0 60 60 60 0 avg $/mmBTU Totals MM Scfd 139 153 218 199 213 158 $5 EMV $m/d $695,000 $765,000 ### $995,000 $1,065,000 $790,000 EMV $m/y $254 $279 $398 $363 $389 $288

Drill Plan C C1:Drill SSA Drill SSH Tie In SSA Flowline Tie In SS10 Flowline Pre-Cooling Facilities Tie In SSH Flowline

WO of SS10 at a later date with SU WO dates would depend on flowing at corrosion limation rate or earlier if full potential Demob price included in SSH Flow SS10 within Flow Accelerated Corrosion rates and replace when required (5yrs)?

Considerations Drill SSH only to find we have to WO SS5 &/or SS9 Do not Drill SSH and require 200MM Scf/d in 2013 Lose SS4 to water production in 2012 Drill Plan A does not meet 140MM production capabiltiy Production rates do not take into account pressure decline SSA Flowline might not be in place for initiial clean-up flow SS10 WO to be completed after 5years with Snubbing Unit (SU)

Drill Plan D:

Drill SSA WO SS10 - Rig Demob Rig Tie In SSA Flowline Tie In SS10 Flowline Pre-Cooling Facilities

Drill SSH at a later date to suit market offtake conditions

Drill Plan E C2:Drill SSA Drill SSH Tie In SSA Flowline Tie In SS10 Flowline Pre-Cooling Facilities Tie In SSH Flowline

Deferred SSH flow-line capital expenditure WO of SS10 at a later date with SU WO dates would depend on flowing at corrosion limation rate or earlier if full potential Demob price included in SSH Flow SS10 within Flow Accelerated Corrosion rates and replace when required (5yrs)?

Drill Plan F C3: Drill SSA Drill SSH Tie In SS10 Flowline Temp Sea Flowline

-28 -17 -0.8 2 -43.8

Capex Deferral Case Temporary flowline to sea via SS5 Tie in SS10 flowline Defer Pre-Cooling project onto Songas

Success Drill Plan A -41.2 Failure Success Drill Plan B -67.2 Failure Success Drill Plan C -59.2 Failure

98% $279 232.44 2% 0 95% $398 310.76 5% 0 97% $389 317.86 3% 0

238.03

-41.2 330.65

-67.2 329.53

-59.2

333.26 Success Drill Plan D -48.2 Failure Success Drill Plan E -52.2 Failure Success Drill Plan F -43.8 Failure 324.86 3% 0 97% $389 333.26 3% 0 3% -43.8 -95.44 2% 0 97% $389 98% -48.2

-96.4

-48.2 336.53

-52.2 97% 344.93

Risk Profile
1 1 1

Probability

-100

-50

50

100

150

200

250

300

350

400

Cumulative Risk Profile

1 1 1

Probability
-100

-50

50

100

150

200

250

300

350

400

333.26

Success Drill Plan F -43.8 Failure

97% 388.73 333.26 3% 0

97% 344.93

3% -43.8