Ann: Investor Update, page-40

Hi,

Lets calculate OOIP based on the information provided by the company (we have basically all the information except oil/water ratio).

Enclosure = 46 KM2 = 46,000,000 meters
Depth = 66 meters net (not counting 10 meters which were discovered later on).
So the volume is = 46,000,000 * 66 Cubic Meters
Total volume = 46,000,000 * 66 * 6.2898 Barrels of space
Porosity = 6 to 8% on average lets say 7%
Volume of oil + Water = 46,000,000 * 66 * 6.2898 * 0.07 = 1,336,708,296 Barrels

Based on 20/80 water cut (ie 20% oil, 80% water) = 267,341,659 Barrels of oil
Based on 30/70 = 401.012,488 Barrels of Oil
Based on 40/60 = 534,683,318 Barrels of Oil
Based on 50/50 = 668,354,148 Barrels of Oil

and so on. So it all depends on oil/water ratio


As an aside, ROC prospect is 60 KM2 ie. 33% bigger than PS1 and also the expected porosity is much higher say 10 to 12%. If we get a similiar size oil column as in PS1, then look out!!!!