This two-day conference on managing risk in new venture exploration will address obstacles facing global hydrocarbon exploration. It will feature a prestigious speaker panel from major oil and gas companies discussing topics like portfolio management, operational and financial risk, health and safety issues, geological and technical risk assessment, and reducing risk through technology. The event aims to find solutions for mitigating exploration risk and examine best practices for dealing with uncertainty. It is targeted towards senior decision-makers from leading exploration and production companies.

1. Booking line: tel: + 34 934 521 586, fax: + 34 934 510 532, email: dennys.delgado@jacobfleming.com, www.jacobfleming.com
Managing Risk in New Venture
Exploration 2008
Maximising Value Whilst Minimising Risk
YOUR PRESTIGIOUS SPEAKER
PANEL:
YOUR PRESTIGIOUS SPEAKER
PANEL:
Jim Handschy, ConocoPhillips
General Manager, Global New Ventures Explo-
ration
Francisco Ortigosa, Repsol YPF
Geophysical Operations & Subsurface Imaging
Gregers Dam, DongEnergy Exploration
Chief Geologist
Robert Pascoe, BHP Billiton
VP New Ventures
Senior Representative, Statoil Hydro
Jonathan Craig, ENI
Head of Prospect Validation & Chairman of
Maghred Research Group
Wolfgang Posch, OMV
Head of Strategic Management
András Király, MOL
Chief Geoscientist Director of Geology & Reser-
voir Management
David Branson, Wintershall
Director New Business
Kent Reynolds, Petrom
Director of Safety E&P
Gerard Keane, Keane Offshore Integrity
Ltd. (KOIL)
Principal Engineer & National Irish Offshore
Engineering Verification Auditor
FIND YOUR REASONS TO ATTEND
Risk & Responsibility: The New Reality in Exploration
With exploration investing highly in new high risk ventures, the oil and
gas industry are juggling the extra obstacles facing them especially
during its phenomenal pace of development and its corresponding oil
and gas consumption. As prospect sources reside in still ever-challenging,
remote and sensitive areas the aim of this event will be to find solutions in
mitigating exploration risk.
This PREMIER two-day conference will address the main obstacles facing
global hydrocarbon venture exploration, tackling the ever-varying and
widening complications within risk. It will examine the best practices and
strategies implemented by the industry’s top Oil & Gas Operators, and
will investigate problematic and new risk. Hear from real-life case studies
in new venture exploration and their supervision and speculation of the
uncertainties encountered.
We will examine the following key issues:
Benchmark your exploration portfolio specific to dealing with
uncertainty and speculation
Implement efficient and profitable risk management&
uncertainty estimation
Discover the latest developments in risk control
Incorporate new concepts and techniques used in economic and
risk appraisals of new ventures
Assess and analyse different risk techniques and methodologies
of risk handling
And much more…
Register
now
!
11th
& 12th
March 2008,
Prague – Czech Republic,
The Moevenpick Hotel
Media partners: the
energy
info.com

2. Managing Risk in New Venture Exploration 2008
Booking line: tel: + 34 934 521 586, fax: + 34 934 510 532
Day 1, Tuesday 11th
March 2008
8:30 Registration and Coffee
9:00 Opening remarks from the chair: The Universe of Risk
& Uncertainty in New Venture Exploration
Commercial & Political Risk - Strategic
Approaches to Tackle Uncertainty
KEYNOTE OPENING ADDRESS
9:10 Risk & Responsibility: The New Reality in Exploration
• The current landscape in the market, recent trends and
managing the consequences of surging risks
• Defining best-practice exploration risk control and supervision
• Implementing procedures and strategies for dealing with risk
and uncertainty utilised in neighboring nations
• Q&A
Speaker Subject To Final Confirmation
9:50 Operational & Financial Risk: Hydrocarbon Economics
& Natural Resource Investment
• Managing investment opportunities and joint ventures under
financial uncertainty
• Identifying the key financial challenges in new venture
exploration
• Managing financial risk at the project level and problems in
funding for higher risk exploration
• Coping with long-term unpredictable cost forecasts for
exploration equipment and facilities
• Q&A
Gerard Keane, Keane Offshore Integrity Ltd. (KOIL)
Principal Engineer & National Irish Offshore Engineering
Verification Auditor
10:30 Morning Coffee and Networking
11.00 Wintershall in Russia : A Multi-Faceted Approach to
Risk Management
• - An overview of Wintershall‘s projects in Russia & Operating
E&P Ventures in Russia
• - The political and commercial background to the Wintershall
involvement in the country
• - Managing technical and non-technical risks
David Branson, Wintershall
Director New Business E&P
11:40 Commercial, Geo-Political and Regulatory Risks
Converting Political Risk into Opportunity
• The obstacles and uncertainties in exploration license issuing &
governmental issues
• The latest on the Production Sharing Contract System and the
Tax & Royalty System
• Becoming familiar with the new regulations and implementing
an innovative HSE Scheme
• Q&A
Speaker Subject To Final Confirmation
The Role of Portfolio Management
12:20 Manage E&P by Managing the E&P Portfolio:
Decision-Making for Exploration Uncertainties.
CASE STUDY
• Integrated prospect portfolio management combining
geological, engineering and economic risk
• Portfolio diversification – Diversifying your Portfolio Effectively
& Further a field
• Portfolio optimisation: Integrating and implementing risk
solutions to create a minimal risk portfolio
• Overcoming manpower shortages and / or resource deficiencies
with valuable prospect sources
• Q&A
Jim Handschy, ConocoPhillips,
General Manager, Global New Ventures Exploration
13:00 Luncheon
14:20 Incorporating Portfolio Management into Strategic
Decision. CASE STUDY
• The integrated portfolio management approach
• Aligning portfolio management with the strategy process
• Including portfolio analysis into strategic decision making
• Organisational barriers and how to overcome them
• Q&A
Wolfgang Posch, OMV Exploration & Production
GmbH
Head of Strategic Management
Health, Safety, Security & Environmental Risk
15:00 HSE’s Role in Managing Risk in New Ventures.
CASE STUDY
• Where does Health, Safety, Security & the Environment stand in
the overall risk profile
• Recent Experiences in Various Cultural Settings; HSE in due
diligence & appraisal of future assets
• Corporate Values verses Local Culture & Practice
• Adapting HSE Management Systems to suit local conditions;
Assessing Success, KPI’s & Goals
• Q&A
Kent Reynolds, Petrom
Director of Safety Exploration & Production
15:40 Challenges in Exploring in The Arctic. CASE STUDY
• The potential gains in new energy resources versus environment
protection in Arctic Waters
• Looking at the repercussions of venture exploration will have on
the Arctic’s untouched wilderness
• The impact of a hostile environment for new ventures
• Reducing risk within health, safety and environmental aspects in
arctic waters
• Q&A
Speaker Subject To Final Confirmation
16:20 Afternoon Tea and Networking
17:00 Marine regions – Deepwater: Deep Water Exploration
Oil Wells & Implicated Uncertainties. CASE STUDY
• The various aspects of risk in deepwater exploration - the
benefits, difficulties and downfalls
• How to reduce these risks with current innovative approaches
for deep water exploration
• Keeping head-to-head with competition pouring into deep
water exploration
• Trends – How has it become more feasible and profitable, and
where
• Q&A
Robert Pascoe, BHP Billiton
VP New Ventures
17:40 Interactive Panel Discussion: Developing The Best-
Practice Risk Management Strategy
The audience has an opportunity to ask questions and open an
interactive discussion joined by key note speakers of the day
• Identify the key elements of good risk management in order to
formulate a fully-effective business strategy
• Varying risk management concepts on a global scale & how to
apply these approaches to minimise risk
Panelists: Speakers from Day 1
18:20 Closing remarks of topics covered throughout Day 1
from the Chairman
Speakers and delegates are cordially invited to
attend a
Networking Cocktail Reception
followed by Dinner

3. email: dennys.delgado@jacobfleming.com, www.jacobfleming.com
Maximising Value Whilst Minimising Risk
Day 2, Wednesday 12th
March 2008
8:30 Registration and Coffee
9:00 Opening remarks from the chair
Geological & Technical Risk In Selecting
Exploration
9:10 The Effects & Limits of Geological & Technical
Uncertainties. CASE STUDY
• Trends in the Geological Risk Assessment Approach
• What elements are to be considered when analyzing
geological risk
• Evaluating the uncertainties in varying types of basins
Speaker Subject To Final Confirmation
9:50 Reserve Estimation: Expected Value and the
Geological Chance Factors
• Resource estimate and associated geological chance
assessment
• Reserves estimate and project maturity
• Net present value, upside potential and risk factors
• Q&A
Andras Kiraly, MOL
Chief Geoscientist, Director of Geology & Reservoir
Management
10:30 Morning Coffee and Networking
11:00 Seismic Technology – Making The Best Choice For
The Task At Hand. CASE STUDY
• Maximise it’s use to reduce risk – Choosing the correct
model to use
• Assessing the problems of structure and stratigraphy
• How ambiguous are its interpretations?
• What are the range of methods and their strengths and
weaknesses?
• A look at the risks associated with deep well imaging:
– less reliable hydrocarbon detection
– poor image resolution
Speaker Subject To Final Confirmation
11:40 Risk Assessment Of Frontier Sub-Basalt Basins In
The North Atlantic
• Effective reservoir quality assessment and the
complimenting technologies that help reduce risk
• Assessing complex geological settings in deep reservoir
definition and characterization
• The recovery factor – is the reserve economically
recoverable?
• An in-depth look at the varying influencesand risks in RF
under a given set of conditions
Gregers Dam, DongEnergy Exploration
Chief Geologist
12:20 The Deliberate Road to Risk and Cost Reduction in
Exploration. CASE STUDY
• Technology and the Risk-Cost Dependency in E&P
• Why Risk and Cost cannot be reduced simultaneously
• Seismic Imaging as the primary Technology for Risk
Reduction
• Selecting the strategy to reduce Risk and Cost
• Q&A
Francisco Ortigosa, Repsol YPF
Geophysical Operations & Subsurface Imaging
13:00 Luncheon
14:20 Electromagnetic Technology – Understand the
latest technology that helps reduce Exploration
risk. CASE STUDY
• Determining geometrically-restored migration pathways
through time
• Basin analysis and maturity modeling
• Optimal collection and structural modeling and
interpretation of field data
Speaker Subject To Final Confirmation
15:00 Overcoming The Difficult Barriers Associated With
The Management Of Geological Risk.
CASE STUDY
• Implementing an improved geological risk insurance (GRI)
scheme
• Insuring project developers / investors against the short-
term and medium-term geological risks
Case study scenarios of the following expectations of risk:
Reservoir; aquifer yield; fluid; CO2; and more……
Jonathan Craig, ENI
Head of Prospect Validation & Chairman of Maghred
Research Group
15:40 Afternoon Tea And Networking
16:20 Interactive Panel Discussion: Challenging
Aspects of Risk Management and Determining
the Probability of Geological Success
The audience has an opportunity to ask questions and open
an interactive discussion joined by key note speakers of the
day
• Identify the key elements in avoiding running high risk
• How does the infrastructure and portfolio need to be
developed to limit risks and improve efficiency?
Panelists: Speakers from Day 2
17:00 Summary & Closing Remarks of Topics Covered
Throughout Day 2 from The Chairman:
• The Future of Oil & Gas Exploration and The Emerging
Opportunities for Investment, Exploration and
Development Throughout the Oil & Gas Value Chain;
• The Fears, Trends and Outcomes of the Industry as it is
Today
17:20 Farewell Coffee and Networking
I would like to thank everyone who has helped with the
research and organisation of this event, especially the speakers
for their support and commitment.
Caroline Palmer, Conference Producer
Caroline.palmer@jacobflemning.com
WHO SHOULD ATTEND:
Attendees will be mostly senior decision makers from the top institutions
in Oil and Gas Exploration and Production; Vice Presidents, CEO’s,
Directors, Heads & Managers of E&P; Global Chiefs, Chief Risk Officers,
E&P managers, project managers, portfolio managers, asset managers,
investment strategists, geoscience managers: petroleum geologists,
geophysicists, petroleum geochemists, risk evaluation advisers, new
venture managers, R&D: chief reservoir engineers.
The Jacob Fleming Group specialises in organising top level
business to business conferences with strategic orientation.
Senior decision-makers from leading companies are present
at our events both as speakers and as delegates. Our fields
of interest include oil & gas, petrochemical, pharmaceutical,
finance and telecommunication industries. Extensive research,
careful speaker selection and top class venues provide a unique
incentive and exceptional opportunities for the executives and
experts participating in Jacob Fleming conferences. www.
jacobfleming.com