1. Annual Reserves Certification Current and Future Activity Ensuring Sustainability

2. Undertaken annually Over the last decade - nine undertaken All results shared with the Public Reasons Bolster investor confidence Guide planning throughout the value chain Demand and Supply Reserves Certification

3. SUPPLY

4. Upstream Activity 23(a) Centrica TTDAA 14 Niko/RWE 23(b) Voyager/Niko Niko

5. Current Exploration Activity NCMA 2 1,000 sq km 3D seismic Drill 3 exploration wells: Two wells to 2,800m TVDSS One well to a depth 4,000m TVDSS NCMA 3 1,500 sq km 3D seismic Drill one well to 3,500m TVDSS NCMA 4 1,500 sq km 3D seismic Drill one well to 1,433m TVDSS All seismic acquisition to begin 15 months after execution of contract. All drilling to begin within 30months

6. Block 4(b) Reprocessing of 1,000 sq km seismic One well to 3,000m bml Bptt Licensed Acreage plans to acquire 500 sq km OBC 3D seismic – Repsol 150sqkm 3D Seismic – TSP New Awards Blocks TTDAA 14 and 23(a) Current Exploration Activity

7. Shallow Water Blocks Between 1 to 5tcf Deep Water Blocks Between 4 to 8tcf Expected Yield from New Exploration

8. Future Developments: Upstream There are 36 deep water blocks available for exploration. Blocks for nomination are coloured light blue. Currently reprocessing a seismic volume to image the source rock

10. Expected to climax in October, 2011 with the next Competitive Bid Round

11. The MOE is currently reviewing all remaining acreage Operators will not be encouraged to “sit” on acreage

13. Thank You