independent geologists report

The Undiscovered Oil and Gas-Initially-in-Place and Prospective Resources are shown in
Table 6. The risk analysis results are shown in Table 7. The likely hydrocarbon phase is
uncertain so an equal 50% chance of oil or 50% chance of gas has been assumed.
Permits
Prospect
Undiscovered Oil Initially In Place (MMbbls)
Undiscovered Gas Initially In Place (Bcf)
Prospective Oil Resources (MMbbls)
Prospective Gas Resources (Bcf)
WA-332-P
WA-333-P
Low
Estimate
Best
Estimate
Mean
Estimate
High
Estimate
Low
Estimate
Best
Estimate
Mean
Estimate
High
Estimate
Braveheart
Gas
Condensate
Case
730 1895 2231 4217 501 1322 1564 2973
Prospective Condensate Resources (MMbbls) 23 64 78 153
Braveheart
Oil Case 516 1335 1572 2957 150 397 472 897
Table 6 - Permits WA-332-P WA-333-P Undiscovered Gas/Oil Initially in Place and
Prospective Resources for Braveheart Prospect
Risk Component Chance
Trap 70%
Charge 90%
Reservoir 72%
Seal 27%
Geological Probability of Success #12%
# Geological Probability of Success of particular hydrocarbon phase is 6% gas and 6% oil
Table 7 - Chance of Success of Braveheart Prospect