Petroleum Resources N of thenorthernNetherlands submerged carbonatebankinthenortheastCaribbeanSea5kmsouthwest opportunity withconsiderablepotential. The SabaBankareaconstitutesafrontierhydrocarbonexploration approximately 2,200km in theworld. and generallylessthan50metres.Itisthesecondlargestcarbonatebank the bankinsouthern T The presenceofnumerousshowstypedtoanupperCretaceous/Lower ertiary MarineMarlsource(Jan2007)inbothwellsindicatessignificant e w Saba Bank,DutchAntilles

o p p Petroleum Potential T o wo wells,SB#1and#2weredrilledonthesouth-eastof r t u n i t 2 i andhasawaterdepthrangingfrom10-100metres T e Updated January262007 ertiary provincein1977and1982. s islandofSaba. ,

N at least7T Recent workhasconfirmedthepotentialfor the commercialaccumulationofoilandgas. stratigraphic andstructuralconditionsfor The SabaBankpresentsveryfavourable flanks oftheBank. depth underandextendingoutbeyondthe source potential,whichisthoughttolieat e w

P The SabaBankisashallowwater e cf recoverableintwoleadsalone. t r o l e u SABA The bankcovers m

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a 1 t a Saba Bank Petroleum Resources 1969 Exploration History 1970 1971 1972 1973 1974 1974 1976 1977 1979 1980 1999 1982 2007 2004 1989 1984 1988 The availableacreageconsistsof43contiguous blocks(eachblock=91.86km current blockboundaries. New aceragetobecomeavailablebeyondthe DeepSeaDrillingProgramW First2DseismicshotovertheSabaBankbyUnitedGeophysicalCompany. 0148aspartofLeg15wasdrilledon Foxetalpublishedresultsofdredgingsurveyover USGScarryoutaregional2DseismicsurveythatcrossestheSabaBank. acquire2regionalseismiclinesoverthe W surveyovertheSabaBankcarriedoutbyGSI. Keareypublishedresultsofgeophysicalsurveysoverthe W surveycarriedoutbyCGG. PetroleumLawpassedforSabaBankareaNetherlands Paleoceneandesitesatadepthof2975m. MarathonspuddedSB1,abandonedasdryholewithminor gasshowsafterpenetrating FinasignedPSCwithSabaBankResources. Geophysical. Finacommissioned1700kmof2DseismicovertheSabaBank, acquiredbyW reprocessedand3Finalines werereprocessedanddigitised. SBRacquired205kmof2dseismicfromW Paleoceneandesiteat4231m. FinaspuddedSB2,abandonedasdryholewithminorgas showsafterpenetrating presence New Petroleumgeochemical data (Matchette-Downes2007)confirmsmarinemarlsource reviewedtheseismicdataacquired todate,(Churchand Churchand CaribbeanwithparticularreferencetotheSabaBank,(Robertson Research,1984). RobertsonResearchproducedareportonthegeologyand hydrocarbonpotentialofthe

AJW ConsultantsreportonthepotentialofSabaBank, (W Aladdin signedPSCwithSabaBankResources. eeks NaturalResourcescommencedexplorationoverSabaBankwitha2Dseismic eeks NaturalResourcescontinuedexplorationonSabaBankwithsecond2Dseismic Resources created.PSCwithMarathonsigned. of probableUpperCretaceous / Allison publishareportonthe petroleumpotentialoftheSabaBank,having Available Acreage Available Acreage ell 0030aspartofLeg4wasdrilledon 2 ). A ves Ridge. A T ves RidgeDeepSeaDrillingProgramW ertiary age. estern Geophysical.Aladdinsurveywasalso Aladdin acquired343kmof2dseismic A ves Ridge(Foxetal.1971).Shell N Antilles. SabaBank Allison, 2004). A ves Ridge(Kearey arner &Kubena,1989). A ves Ridge. , 1974). estern ell 2 Saba Bank Petroleum Resources settings ofIndonesia. island arcpetroleumbasin exist intheoilproneandprolific Similar tectonicsareknownto model {DeMetsetcal.,1990}). the NUVEL-1platemotion Hilst andplateboundariesfrom tomographic datafromV (Based on marked withredcontours. crustthicknessis with bluecontours. measured inkm,andmarked The diagrambelowshowsthe to theSouth-EastandanuntestedCretaceousbasinW The SabaBankcomprisesofacarbonatesequenceoverlying shows. work asindeeditdoesevidencedthroughtheSabaBank#1and#2well (20mWm potentially vastsourcekitchen. the northernendofGrenada belong totheCretaceousprovincethatincludes Plate atthenortherntipof The SabaBankislocatedattheleadingedgeofcomplexCaribbeanSea Geological setting -2 ) wouldallowdeepersources,suchastheUpperCretaceousto Saba Bank-Free-AirGravity(1:1,000,000) Ysacois 1998using

C r e t

a The c e o

u an der s

? G G B a A ves Ridge.ItisthoughtthattheBankmight e The lowgeothermalgradient26 s e T

i depth ofthesubducted Atlantic platesubductionunderCaribbean

n rough. T o e o r ti l a l r o The y o B Saba Bank g a g s T in rough itselfaccommodatesa i i c c A a ves Ridge,locatedon a l l Atlantic crust,

s s est. e e o T C Km ertiary basin t t t t -1

i i n n g g 3 Saba Bank Petroleum Resources shown bywhiterectangle(RefIHSEnergyRefP Area of The mapbelowofthe (Ref IHSEnergy in hotcoloursindicateshallowwaterdepth,colddeep Saba bankisabathymetrichighofaverage50mwaterdepth.Colourscheme The mapaboveshowsthelocationofSabaBank,withroughbathymetry / lowerT Upper Cretaceous with T Marine marlsource a n OC’ d A ertiary

l ves Ridgeshowninlighterrectangle. s upto7% o c derived tars Upper Cretaceous a l

h , RefP y d r o c A . Goddard2005). G oil shows Marine Marlderived / lowerT Upper Cretaceous G a ves Ridge,showsroughbathymetryandtopography r b e o e n

ertiary o o o c c l l u o o r a n g g c e s i i c c The areaofthemapaboveis Kitchen? Source . Goddard2005) a a l l

S S e e t t t t i i n n g g . . 4 Saba Bank Petroleum Resources shallow areas. Caribbean. Below weseethepositionsofpresentandpastactivearcseastern Cenozoic historyisnotexclusivetothisPacificmodel(RefPindell2003). Caribbean Platerepresentingearlysubductionpolarityreversal(Aptian). to Pindell1994. The diagramshows with coldcoloursrepresentingdeepwater The basemapisabathymetricfromwww This representsthePacificModelfororiginof G T G ectonic EvolutionoftheCaribbeanPlateaccording e e o o l l o o g g i i , warmercoloursrepresenting c c a a l l

S S e e .USGS.gov t t t t i i n n g g 5 Saba Bank Petroleum Resources SB #1&2wellsconfirmthepresenceofathickbutvaried Stratigraphy represented byathickturbiditesequence.Bothwells basinal section. SB #1,some15kmtotheWestof#2,encounteredacarbonatesequencein siltstones andclaystonesoftheFluvio-DeltaicSequence. Both wellsencounteredtheUpperCarbonateUnit(TheKingshillCarbonate)overlying excellent reservoirpropertiesatanumberoflevels(carbonatesandsandstones). T No PalaeozoicorMesozoicrocksareknowntooutcropintheLesser reworked sedimentsseeninbothwells. seismic datastronglysuggeststhepresenceofadeeperandthickpre T values ashigh40%inplacesSB#1.Porosities intheequivalentChannel 10 to25%porositywasobservedintheLowerCarbonate Unit,withmoldicporosity Marathon recordedfairtoexcellentporositiesin the FluvioDeltaicUnitinSB#1. presence ofthereworked materialwithinthe It isanticipatedthatthe pre-Andesite sectionwillcontainqualitysandsbased onthe Extensive lostcirculationoccurredinSB#1and toalesserextentinSB#2. settings arelikelytohavesignificantlyhigherporosities. penetrated themostdistalofpartturbidite sequenceandthemoreproximal T Good toexcellentreservoirpropertiesarerecordedthroughoutthepost Reservoir rocks ertiary geologycanonlybepostulatedbasedonthepresenceofCretaceous ertiary urbidites inSB#2weremuchlowerandgenerally around10%,howeverthewell . V isual porosityindicationsfortheUpperLimestoneunitrangefrom10to25%. This LowerCarbonateunitisnotpresentinSB#1.Herethe T S S ertiary section. t t r r TD’d in a a T t t 1984). ertiary section,with W Cretaceous basintothe South-East, the Both wellsweredrilledin deeper geology as tothenatureof shows alsoprovidesclues Biomarker analysisofthe sedimentary sequence. A potential. Palocene source tested, norwasthe Saba Bank,(RefMeyerhof southwestern 40%ofthe Andesite andthepre largebasinunderliesthe i i est hasnotbeen g T g ertiary basintothe r r Antilles, however a T a the Andesite ertiary p p . h h y y , f 6 Saba Bank Petroleum Resources A section. was badlydamagedasseveremudlossesoccurredwhilstdrillingthebottom C5+ hydrocarbonswererecovered,howeveritwasthoughtthattheformation Significant showshavebeenrecorded.SabaBank#2wastestedandC1to Evidence ofHydrocarbons The CendeprospectintheCretaceousbasintoW Oligocene toEoceneage(andolder)andunderlyingtiltedfaultblocks(e.g. with thestratigraphicplayse.g.channel/turbidites/deepseafansof carbonate reefsofEoceneage;anumberprospectsandleadsassociated Interpretation oftheseismichasrevealedseveraldrillableprospects; Seismic Interpretation definitely warrantsfurtherevaluationofitspetroleumpotential. and revisedplayconceptswhichstronglyindicatethattheSabaBank rock extracts. that thesehydrocarbonsaremigrantandnotinsitusource identification ofsmallquantitiesliquidhydrocarbons;thereisthepossibility reviewofthetwopreviouslydrilledexploratorywellshasgeneratednew Line S1 Solvent extractionoftheselectedintervalsresultedin 10k P P e e t t r r o o l l e e u u and pinch-outopportunities. Large scaletiltedfaultblocks m m

G G est). e e 10k o o l l o o g g y y 7 Saba Bank Petroleum Resources S1 C16 prospect EXA Cende Ref Fina Lat 17deg17’ Saba Bank#1 shown. Approximate locationsofSB#1and#2 Cende prospectare The regionallinesawayfromtheBankarealso available. The dataisavailableasaKingdomSuiteproject. Lat 17deg19’ Saba Bank#2 T T C2 C3 h h e e

56.258”NorthLong63 deg17’ 22.098”NorthLong63deg25’ S S e e i i SB #1 s s m m SB #2 i i c c

D D a a 30k 43.041W t t 38.043W a a b b a a est est s s e e 8 Saba Bank Petroleum Resources platform areas. The shelfedgefaultswouldallowhydrocarbonmigrationintothe also beseen. platform andontheflanksofplatform.Slumpingavastscalecan Line C3 The Seismic Line C16 Line C3 Line C3 at approximately1.2seconds T wo largetruncatedtilted faultblockscanbeseen,theerosionalsurface Large tiltedfaultblocksarepresentbothwithintheSabaBank TWT . T T h h e e

L L e e a a 8k d d 10k 10k s s 9 Saba Bank Petroleum Resources Line C2 seen A Line C2 Line exa Line C2 Line C2 verylargetiltedfaultblockwithpossiblegasescapefeaturescanbe Cende prospect. The western endofthelineimages partofthe at thecrestoftiltedblock Cende prospect . T T h h e e

L L e e a a 8k 6k 8k d d 8k s s 10 Saba Bank Petroleum Resources into footwalltraps,(refP migration ofhydrocarbonsfromsourcerocksaccumulatedinhalfgrabens Cretaceous tiltedfaultblockbelowexhibitsashelfedgeplayshowingthe Goddard, 2005). The seismicsectionaboveshowsplateauxmargintiltedfaultblocks(refP T T . Goddard,2005). h h e e

I I n n t t e e r r p p r r e e t t a a t t i i o o n n . 1 1 Saba Bank Petroleum Resources Shelf Edgecarbonatecartoonofplayconcept(refP Goddard, 2005). basement high(inred),underlyingpaleoandpresentshelfedge(refP Shelf Edgecarbonateinterpretationshowinglessfaultingandpossible T T h h e e

I I n n t t e e r r p p . Goddard,2005). r r e e t t a a t t i i o o . n n 12 Saba Bank Petroleum Resources volcanoclastics andafurther921mofcarbonates Saba Bank#1encountered936mofcarbonate,919mfluviodeltaic The Prospects T indicates thepotentialforseveral Recent workbyP hydrocarbon datawasrecorded. damaged andnofurther was likelytohavebeen severe mudlossestheinterval interval wastested,butdueto contained C1toC5gases.One These turbiditicsandshowever found. permeability characteristicswere with lowtomoderateporosityand distal turbiditicdeepseafanfacies up onabasementhigh.Infact interpreted asacarbonatebuild- seismic anomalywhichwas Saba Bank#2wasdrilledona found. tertiary sourcerockmaterialwas W-50). Reworkedmaturepre- oil window blocks. cf ofgaswithintheSabaBank up withsome~700millionbblpotential.Otherleadshavebeenworked The “δ” The “δ”lead (~ 500Million bbls) Cende prospect areveryhigh Potential reservesfor the . Gasshowswererecordedat2,140metersand2,380(Refline . Goddard lead workedupbyFINA up byFINA. isprognosedtobeacarbonatebuild T T h h e e

P P TD’d in r r o o Andesite abovethe s s p p e e c c t t s s 13 Saba Bank Petroleum Resources Analysis suggesteditwasunrefinedoil. October 10th1979,estimatedtobe730millionbblsofoil. reported bytheNationalOceanicand Other hydrocarbonindicationsincludeavastsubseaoilslick seeps) withUpperCretaceousaf Cretaceous source Recent workonJamaicahasrevealedthepresenceofUpper source rocksreportedinPuertoRicohave V A source. The liquidsarenowtypedtoanUpperCretaceous/ significant quantitiesofbothliquidandgaseous(wetgas)shows. The presenceofsourcerocksisalsoconfirmedbythe water clasticswithasignificantinputofterrestrialorganicmatter”. P the sedimentsofbothwellbores. reworked matureCretaceoussourcematerialcanbefoundwithin Upper Cretaceoussourcerocksarepresentintheregionas Bank. in theupperCretaceoussectionandlowsawayorunder wells soitisenvisagedthatthesourcerockswillbeoptimallymature The topoftheoilwindowisreachedatadepthnearto the drillbit,theirpresenceisindicatedatdepth. Whilst nosourcefaciesofanyparticularnotewereencounteredby S S . Goddardnotedthelikelihoodof“Cretaceousnearshoreshallow enezuela deepwaterbasinhasa lateCretaceoussourceispostulated.DSP o o u u r r c c e e

rocks withelevated

r r o o c c k k finities. s s T OC of4.2%.UpperCretaceous

Atmospheric

a a T OC’ n T n OC valuesof7%. site#146inthe s, oilshows(andgas d d

Administration, t T t ertiary marine h h e e TD ofthe

o o i i l l s s 14 Saba Bank Petroleum Resources for theSabaBankwells for theSabaBankwells Oil showextractdata Oil showextractdata 15 Saba Bank Petroleum Resources g g e e a a o o R R n n c c e e h h d d c c e e

e e i i m m n n n n t t i i t t e e c c

p a p a r r Maracaibo Oils Antigua and p p l l e e

r r a a t t e e r r n n o o t t a a a a l l l l e e t t y y i i u u o s o s m m i i

n n s s

16 Saba Bank Petroleum Resources Sourc penetrated theolder Such rockswerenotencounteredbythewellboreastwowellsdid source Bachaguero Field,V Saba Oilsandtheoilshowsfrom Cretaceous tolower that theseoilsarederivedfromamarinemarlsourceofpossibleupper Bank #2haveacloseaf established thattheoilshowsextractedfromSabaBank#1and comparison withoilswithinGeoMark’ Recent geochemicalanalysisbyGeoMarkResearchandway Eocene Maastrichtian Smackover Maastrichtian Smackover es - 31 Petroleum Geochemistry g g e e - 30 T T enezuala. a ertiary age.Comparisonisheremadebetweenthe a ertiary /upperCretaceous. o T o errigenous finity tooilsfoundinwellsdrilledon Content R R - n n 29 c c e Saba #19300ft e h h d d Retrieve Content - Windsor - 1, 1603m 28 c c The lateristypedtotheprolificLaLuna e e

Antigua andoilfromtheMaracaibo e i e i - m - m 1,1435m n 1 n - - s O.I.L.S.databaseithasbeen 27 1 oil,1692m n n Maracaibo Bachaquero t t i Saba #16990ft i t t Antigua e - e c c 26 Windsor

Antigua

Saba #23,920ft p a p a r r AB 9 Saba #23,742ft - p p 25 l l e e Ab10 - 1 oil,1509m Marine

Windsor r r a t a t - e 24 e r r n n Windsor - o o 1 cuttings,247 t t Antigua and a - a Windsor 23 a a l l ------24 21 22 23 25 l 29 27 30 20 e 28 26 l e - t t 1, cuttings,27 y y i - i u u 1 CHcuttings o s o s - 248m m m

i i n

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s s

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17 Saba Bank Petroleum Resources produce adatabase toallowfullassessmentofthisopportunity. The data,reportsand papersarecurrentlybeingcollatedto GeoMark R 2005. Selected ref E Churchand The petroleumpotenti T Mar John Ewing&Hennion.AAPG Seismic R 1983. FINA P eastern Caribbean,ArielJacksonW History andrelation R Selected papersandreports Sever W Potential fielddataisalsoa P Resources N.V R Saba BankR Aladdin P FINA P Shell 1974R W USGS 1972Spark United Geoph 4 The Data echnical servicereport aper dataisa ,300 linekmofseismicdata: egional AspectsoftheCr eprocessed seismicinKing ell dataf eeks Natur A A athon SabaBank#1ev al consultantreports. v v etroleum SintMaa etroleum Surv etroleum. 343km.1998 efr a a or theSB#1and#2wells. esearch O erences f action andR econnaissance surv esources (W al R i i ysical 1970-71 K . v l l evin RAllison.SearchandDisco ailable inWillemstad.Magnetictapesar esources GSI1973andCG a a er survey to theoccurr b b ey SintMaartenNV .I.L.S database2007 rom P al oftheSabaBankArea,NetherlandsAntilles. Richar 1977. l l eflection intheCaribbeanSea.N.T estern Geoph rten NVSabaBankF e etaceous andT e . GoddardMsc aluation ofgeologyandsour v dom Suitef ailable.

D D ey survey ence ofpetroleumtheSab arner Jr V55 No6.P833-879.1970. a a ysical) 205km.1999surv t t ormat av . 1798km.1980surv . ertiary Ev thesis, SabaBankPlayDiv a a . MScThesisMay G 1974surv

armout ProposalDecember & & very Arti ailable viaSabaBank olution, Depositional

R R eys &1975surv e av cle #10076.2004 ce rockpossibilities. e e ailable inDen errence Edgar p ey p 1991. a Bank,North- ey o o ersity r r t t ey s , s ver . , d . 18 Saba Bank Petroleum Resources C C o o n n C C e f +59997387012 t +59996913137 Curaçao PO Box4249 Mr ClarkGomesCasseres Saba BankPetroleum Resources A Data Room Directors ofSabaBankResourcesN.V Permit termsaresubjecttotheapprovalbyBoardofSupervisory Permit termsandProductionnegotiable Permit T Each blockisapproximately91.9squarekilometresinarea. latitude by3’45”longitudeblocksasshownonpagetwoofthisdocument. The SabaBankareaisdividedforlicensingpurposesintoforty-three7’30” . the Netherland Saba BankResourcesN.V Eustatius. PetroleumactivitiesintheSabaBankareaareadministeredby Caribbean islandsofBonaire,Curacao,Saba,SintMaartenand autonomous partoftheKingdomNetherlandsconsisting Copyright C.J The SabaBankareaisadjacenttointheNetherlands [email protected] dataroomwillbeopeninLondonandWillemstadlaterthisyear c c o o e e n n s s erms . Matchette-Downes. MDOilL t t s s Antilles a a i i Antilles andtheislandterritoriesofSaba,SintMaarten o o c c t t n n s s a a ., acompanyjointlyownedbythelegalentity i i imited 2007 r r e e

/ / . Www e [email protected] f +441628 487268 t +441628 487268 SL7 1DH,, Marlow Bucks 68 GladeRoad, Mr ChrisMatchette-Downes MDOIL

P P .mdoil.co.uk r r Limited o o d d u u c c Antilles, an t t i i . o o n n

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