Sud Remada permit

1
Sud Remada permit

• General Information
• Onshore southern Tunisia, adjacent to the Libyan
  border
• 164,252 net acres (664.7 km2)
• 14 Working Interest
• Operated by Storm Ventures International Inc.
• Net potential reserves in place 24-31 MM STB
• (TT structure alone)
• . DeGolier and MacNaughton currently preparing a
  reserve report in accordance with NI 51-101

• A 200 km 2-D seismic program defined two large
  Ordovician structures with the indicated areal
  extent of 67 km2 and 74 km2 respectively
• Completion and testing operations of TT2
  discovery well confirmed presence of 44º API oil
  and natural gas. The well commenced production on
  March 22, 2009 at flow rates of 230-250 BOPD
• Silurian Tannezuft potential to be fully tested
  in future appraisal horizontal wells
• Several Silurian Acacus seismic structures,
  similar to the Adam and Hammouda fields in
  Tunisia and other fields in Libya, are present on
  the permit

2
Sud Remada permit
TT structure Structural closure 110 km2
Gross reservoir 98 m Area of oil pay
67 km2 Oil pay 50.5
m Area of gas pay 35 km2 Gas pay
7 m Independent Reserve
Assessment 170-220 MM STB
in place

• 2009-2010 development plan includes
• One year (or up to 90,000 bbls) early production
  testing
• Acquisition of 3D seismic on TT structure in late
  2009 early 2010
• Drilling of two appraisal wells in Q3 Q4, 2010
• Appraisal wells expected to be on full production
  by late 2010

3
Bazma permit

• General Information
• Permit officially granted on July 28, 2006
• Onshore, adjacent to the Jorf Permit
• 315,457 net acres (1,276.6 km2)
• 79 Current Working Interest
• (inclusive of 12.7 free carried interest)
• Net potential resources of 50 MM BOE
• Drilling operations for Triassic prospect
  expected to commence in 2010

• Triassic Tagi gas and condensate potential,
  similar to the adjacent Tarfa field
• Several deeper Silurian and Ordovician targets
  outlined on the permit
• Newly acquired seismic data identified several
  potential structures and confirmed the selected
  drilling location on the Frida structure,
  approximately 4.5 km NE of the Tarfa field
• Gas, oil and condensate pipelines from adjacent
  Tarfa and Baguel fields are crossing the permit
  area

4
Bazma permit
Target distribution prospect/leads map
LMG 2
MA 1
JORF PERMIT
PALAEOZOIC TARGETS
TAGI TARGET
KGF 1
BAZMA 1
V
LEGEND
A
TRIASSIC PROSPECT
D
ZMT 1
C
B
PALAEOZOIC LEAD/PROSPECT (Petrel-Robertson/RIGO)
A
5 km
E
FR
BS 1
TARFA 2
BZ 1
OIL PIPELINE
F
TARFA 1
7 km
DZ
GAS CONDENSATE PIPELINE
BZ 2
HBR 1
BAGUEL- TARFA Production Concession
ZKH 1
DOUZ 1
BAGUEL 1
5
Jorf permit

• General Information
• Onshore Tunisia, within 35 km of the Gulf of
  Gabes
• 92,020 net acres (372.4 km2)
• 19 Current Working Interest
• Net potential resources of 18 MM STB
• Received 2exploration renewal period of 2.5 year
  (expiry date Aug 5, 2011)

• Permian reef potential, similar to West Texas
  Permian basin and discoveries in Kazakhstan north
  Caspian fields (Tengiz / Kashagan)
• Two Permian pinnacle reefs (prospect Y and
  prospect Z) outlined through interpretation of
  approximately 2,000 km of older seismic data in
  the northern sector of the block and confirmed by
  200 km of new seismic campaign (2008)
• The Bhayra Rigo-1 well, drilled in August 2007,
  confirmed the presence of a highly porous and
  dolomitized Permian reef reservoir
• Major 24 inch pipeline within 6 km to 35 km from
  two reef structures
• Two oil treatment centers close to potential
  drilling locations

6
Jorf permit PROSPECT Y
TARGET Oil FORMATION
Kubergandian Reef AGE
Middle Permian ----------------------
------------------ POTENTIAL AREA
15 km2 PAY 50
m POROSITY 16 S.W.
25 R.F.
30 RECOVERABLE RESERVES (MEAN) OIL
75 MMBO GAS
N.E.
PROSPECT Y - SEISMIC LINES 2083/THC9 BAZMA
WELL CALIBRATION
7
Jorf permit PROSPECT Z
TARGET Oil FORMATION
Kubergandian Reef AGE
Middle Permian ------------------------------
----------- POTENTIAL AREA
05 km2 PAY 50 m
POROSITY 16 S.W.
25 R.F. 30
RECOVERABLE RESERVES (MEAN) OIL
14 MMBO GAS
N.E.
PERMIAN (KUBERGANDIAN) DEPTH MAP (C.I.100 m)
WELL LOCATION
PERMIAN (KUBERGANDIAN) DEPTH MAP ZOOM (C.I.100
m)
8
Jorf permit PROSPECT V
TARGET Gas Cond. FORMATION
TAGI ss. AGE Middle
Triassic ----------------------------------------
POTENTIAL AREA 2.2 km2
PAY 25 m POROSITY
25 S.W. 35
R.F. 30
------------------------------------------ RECOV
ERABLE RESERVES (MEAN) OIL
5 MMBO GAS N.E.
TOP AZIZIA DEPTH MAP (C.I. 20 m)
NEAR TOP AZIZIA DEPTH MAP ZOOM (C.I. 20 m)
WELL LOCATION
JORF PERMIT
BAZMA PERMIT
0
1 Km
9
Sud Tozeur permit

• General Information
• Onshore Tunisia, adjacent to the Algerian border
• 963,245 net acres (3,898 km2)
• 89 Current Working Interest
• (inclusive of 7.7 free carried interest)
• Net potential resources of 133 MM BOE
• Hydrocarbon potential in Triassic, Ordovician and
  Cambrian sandstone reservoirs

• Potential new well close to the Nefta-1 well
  expected to commence drilling in late 2010- early
  2011 to test Triassic, Ordovician and Cambrian
  reservoirs which had oil and gas indications in
  the Nefta-1 well
• Alternative locations on the permit will also be
  evaluated as several additional structures have
  been identified close to the Algerian border and
  West of the Sabria and North of the El Franig
  fields (1,032 MMBLS of OIP and 135 BCF plus 22
  MMBLS of condensate in place, respectively)?

10
Sud Tozeur permit PROSPECT NEFTA SE
TARGET Gas Cond./Oil FORMATION
TAGI/Ord-Cam. AGE
Trias/Ord-Cam. -----------------------------------
----- POTENTIAL AREA 15
km2 PAY 50 m
POROSITY 16 S.W.
25 R.F. 25
---------------------------------------- RECOVER
ABLE RESERVES (MEAN) OIL
25 MMBO GAS N.E.
NEFTA SE PROSPECT HERCYNIAN TWT MAP (C.I. 5
msec)