NAPE International Pavilion Presentation 22nd 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 NAPE International Pavilion Visit Us at Booth 750