Ann: November 2012 Investor Presentation , page-2

I find it odd how management have decided to now cut Tangiers (TPT) out of the picture in any of their maps with this recent Investor Presentation. Every other Investor Presentation had TPT on the map and now they have completely cut them out. One of the presentations even used TPT as a comparison in $/boe as they were their closest peer.

Perhaps they're worried investors might jump ship as no new news is really expected for the next 2 months? I am sure those who have confidence will stay put, but if this is their concern, I can see where they are coming from. TPT do have some news coming up within the month; 3D seismic and talk of a JV in their Morocco block.

Now please don't jump me for making an observation, I'm just saying what I see. Does anyone else think this may be why they rubbed Tangiers off the map?