ASDFG

An Introduction to Hunt Oil Company

• Who We Are

• How We Operate

• Where We Operate

• Examples of Our Operations

Mission Statement

Hunt Oil Company is an entrepreneurial growth oriented global energy company. We emphasize the front-end of the exploration process by investing in the generation of new oil and gas plays, scientific data, new technology, and people. We leverage our culture of operational excellence to participate in world class projects and excel at infrastructure projects requiring expert project management. To fund our global activities and mitigate risks, we access third party capital through innovative financial strategies and structures.

Overview of Hunt Oil Company

Hunt corporate headquarters in Dallas, Texas

Hunt Oil Company is one of the largest and

most successful private oil companies in the

world

Hunt Oil Company (“Hunt”, “HOC”) was founded in 1934 and today is one of the largest privately owned independent oil companies in the world Company currently conducts operations across

numerous oil and gas fields in 8 countries − Operations on five continents; all types of

environments (harsh deserts, mountainous terrain, tropical jungle, etc.); onshore and offshore

World-class management and operations team;

recognized as one of the most effective operators in the industry − Financially stable (investment grade credit:

Moody’s Baa2, S&P’s BBB)

The Company is responsible for discovering and developing some of largest oil and gas fields in the world, including:

Yemen: Discovered over 160mm m3 of oil and 339B m3 of gas

Fairway Oil Field (East Texas): Over 30mm m3 of oil produced to date − Considered the largest oil field in the world at the time of discovery

Beatrice Field (UK North Sea): Discovered over 80mm m3 of oil

Camisea (Peru): Developed over 283B m3 of gas

Bakken / Three Forks (North Dakota): One of top Bakken operators with over 240 gross wells drilled to date

Overview of Hunt Oil Company

1934 1974 1976 1984 1986 1992 2000 2001 2004 2008

75 Years of Oil & Gas Experience

1934: Hunt Oil Company established by H.L. Hunt, the late father of Ray Hunt

1974: Ray Hunt becomes Chairman of the Board

1976: Achieved first int’l success in the North Sea

Significant discovery, 80 miles from the nearest oil production

1984: Discovered the Alif Field in Yemen, the first oil field in Yemen. > 1 billion barrels of oil discovered

1986: Commissioned 10,000 Bopd refinery

Constructed 423-km pipeline across mountains to the Red Sea

Yemen joins the ranks of oil exporting countries

1992: Acquired domestic assets from Pacific Enterprises for $371MM

380 Bcfe (60% Oil) in Rocky Mountains, Mid Continent and Gulf Coast

2000: Awarded Camisea Contract by the government of Peru

Partnered with Pluspetrol and SK to develop one of South America’s largest natural gas resources

2004: Completed $1.7B pipeline in Peru (less than 4 years from start)

697 km duel pipeline from the Camisea region across the Andes Mountains to Peru’s West Coast

2000: Acquired Newport Petroleum for $520MM

Combined existing Calgary team with Newport to form Hunt Oil Canada, Inc.

2001: Acquired Chieftain Int’l, Inc. for $600MM

May 2008: Yemen LNG secured $2.8B project financing

Largest ever limited recourse financing in Yemen

June 2008: PERU LNG secured $2.25B in loans to fund the PERU LNG project

$3.8B est. project cost (largest foreign investment in Peru’s history)

Current Hunt corporate headquarters in Dallas, Texas

Discovery of the East Texas Oil Field (1930s)

First international project (1976), the Beatrice field in the North Sea

Operates in all types of environments, including the harsh desert

Malvinas gas plant in South America with capacity to process ~500 MMcf/d of wet gas

Peru LNG plant – first LNG load expected in May 2010

History of Hunt Oil

2012

Hunt’s Broad Expertise

Exploration and development activities in numerous basins throughout the world Experience in range of plays, pressures, temperatures and surface conditions Operates majority of exploration plays, including joint interest properties for majors

throughout the world

Geology

Production optimization across multiple formations Primary, secondary, and tertiary recovery Strong metrics for drilling and completing efficiency and production up-time

Engineering / Operations

Leader in project development activities worldwide (Hunt LNG, Peru Camisea, Yemen Exploration)

One of the few independent oil and gas companies active in LNG project development Deep bench of employees who have executed multiple projects

Large-Scale Project Execution

Impeccable safety record Proven history of environmental sensitivity Committed to preservation and environmental protection Experience

• European Union / UKCS • USA and Canada • South America • Middle East & Oceana • International Best practices (IFC, OGP, IPIECA) • Stakeholder engagement programs • Archaeology & cultural heritage programs

Health, Safety & Environmental

Core EHS Commitments

• Protect the health and safety of all stakeholders affected by any aspect of our operations through continuous improvement of company practices.

• Conduct all operations responsibly to minimize and mitigate environmental impacts while respecting the needs of the communities in which we operate.

EHS Management System

Integrity Matters is our Environment, Health and Safety management system for the Hunt family of companies It presents a series of expectations and core business practices that apply to all employees and contractors who work for Hunt

Hunt Achievements First major hydrocarbon project to pass IFC EHS Performance Standards

(Peru LNG, 2007)

Developed innovative best practices for contractor management:

Clearly defined roles and responsibilities

Clearly defined performance standards

Detailed implementation procedures

Continuous monitoring and improvement

Contractual incentives

Approach to contractor management recognized by Society of Petroleum Engineers, Rio (Summer 2010)

Invited by the multilateral agencies to share best practices with other Banks, NGOs and Consultants (Peru LNG Project, Winter 2010)

Best Practices are applied to new projects

Recent Awards 2011 Social Responsibility and Corporate Sustainable Development Award. Peru 2021 Award,

second place in the “Community Category” for Allin Minkay program. (PERU LNG)

2011 Social Responsibility and Corporate Sustainable Development Award. Peru 2021 Award, second place in the “Government and Civil Society Category” for Archaeological program. (PERU LNG)

2010 CAREC 2010 Social Responsibility Award, CAREC 2010 Social Responsibility Award, First Place, for the Peru LNG “For Pyme Project”, operated by Hunt Oil Company of Peru

2009 Best Corporate Social Responsibility Campaign – Hunt Global Partnerships, Petroleum Economist Magazine

2009 Lead Organization Award for Social Responsibility and Sustainable Development, Peru Mining, Petroleum and Energy National Society

2009 Social Responsibility Prize for Recycling Wastes, Remer, a National Not-for-Profit Organisation

2008 Latin American Deal of the Year – PERÚ LNG Project Finance International Awards

2008 Middle Eastern Oil & Gas Deal of the Year – Yemen LNG, Project Finance International 2008 Awards

2008 Best Health and Safety Project of the Year – Hunt Oil Company for US, Canada and Peru Operations, Petroleum Economist Magazine

International Experience

Onshore Offshore

US

Yemen Oman

Canada

Togo Ghana

Iraq Jordan

Niger

Argentina Chile

France

Madagascar

Laos Guyana

Ethiopia

Australia Peru

Romania

Ecological Management in Peru

High Sierras Region

Eastern Region

Pacific Watershed

Llanura Costera Ica - Lima

División de la Cuenca Hidrográfica Pisco - Ica

Llanura Arenosa de Pisco

Montañas de Murciélagos de Costa Alta Llanura de Huaytará y Cordilleras

Cuenca Hidrográfica Pampa - Palmintos

Apacheta Alto Sierra

Valle del Río Vinchos

División de la Cuenca Hidrográfica Huamanga - Vishongo

Valle del Río Yucay

Sierra de Sillaccasa

Valle del Río Torobamba

Cuenca Hidrográfica Campana

Bosque Montano Ecotono del Valle del

Río Apurímac

Special Method Statements for all Sensitive Ecological Units

Strong Contractor Management - No Side-castings (Patibamba Ridge, Peru)

Safeguarding Cultural Heritage

• Hunt values and respects cultural heritage in all our areas of operation

• We carried our one of the most extensive archaeological programs in Peru’s history

• Complied with all national laws and international best practices

• Completed excavation of 115 sites

on the pipeline route

• Completed the rescue of 131 chance finds

Site 36-03, avoided by re-routing pipeline

Drilling in a Wildlife Park, USA

Operating in sensitive environments requires:

Early and ongoing consultation with stakeholders

Aligning ecological management practices with regional plans

Systematic and cooperative approach to compliance

– Understand the requirements – Comply and add to

knowledge base

Execution of compliant well designs and operations plans

Robust EHS controls and contingency plans

Myette Point, Louisiana (2010)

Operations in a Wildlife Park, USA

Operations at Myette Point, Louisiana are subject to a State Wildlife Management Plan

Community Relations

Hunt delivers high standards of environmental protection

We maintain social integrity and community safety

We provide benefits to host communities (partnerships, sponsorships, jobs)

We conduct regular evaluations to assess opportunities for improvement

We adapt to the concerns and views of interested and affected parties

We provide stakeholders with opportunities to see our environmental management programs

20 20

20

Canada

USA

South America

Europe

Middle East

Australia

Hunt Oil Company: Exploration Business Units

Marcellus/Utica

Bakken/TFS

Burnett Ranch CO2

Gas Oil

Amacker Tippett Eagle Ford

GOM

US Operations: 2012

Can

ada

Kur

dist

an, I

raq

Peru B

lock 76 R

omania

Peru Block 56

International Operations: May 2012

Northern Iraq

Ain Sifni

Simrit #2: Oil Discovery

Testing multiple pay zones

Maqlub Structure On trend with & updip from

Bardarash Discovery. Drill Q1-2013

Simrit#3: Drilling

Simrit #1: Continuous oil shows 1100-2070m.

Jurassic test had inflow but no surface recovery.

Ain Sifni License Kurdistan Region of Iraq Hunt: 75% Afren: 25%

Australia

BROWSE BASIN

• 2650 km2 3-D seismic acquired • Brewster Updip Prospect WA-425-P • 88,000 acres updip to Burnside Discovery • Saddle separated from 350Bm3 Ichthys Field • > 141Bm3 Unrisked Potential • Structural-stratigraphic trap • 2013 well planned

Possible Drill Location

Browse Basin Hunt: 4 Licenses Key License: WA-425-P Hunt: 30% WI; Operator Partners: SK, Mitsui

Canada

Crystal

Pine Creek

Bronson

Wanyandie Bilbo

Focus on the Deep Basin in Western Alberta

Multi-zone potential

Scaling up program − Technology applications making

formerly uneconomic rocks economic

− Liquid rich gas production − Horizontal drilling − 3-D seismic targeted drilling

26

Peru & Yemen LNG

Yemen LNG

Peru LNG

Peru LNG Project Summary 4.45 mmtpa single train liquefaction plant 170

km south of Lima

Marine jetty and breakwater for loading LNG vessels

408 km 34” gas pipeline

Gas purchased from Block 56 and Block 88 licensors. 4.2 TCF total commitment

LNG sales contract for 4.2 Metric Tons/Annum on FOB basis with Stream (Repsol – Gas Natural partnership)

PLNG Awards:

Entrepreneurial Creativity for “Let’s Do Business” radio program

Peru 2021 Sustainable Development Award in 2 categories as Natural partnership)

PERU LNG

Yemen LNG – 2011 Highlights

Quantities sold in 2011: − 103 Cargoes – 349.3 Tbtu − Sales by destination to

date: o Americas 27% o Europe 15% o Asia 58%

2012 Projected deliveries – 106 cargoes − Project completion (2nd

Train) in Q3 2012

2011 Worldwide Proven Reserves

Product Type Region

Oil13%

Gas76%

NGLS11%

Hunt Net Proved Reserves: > 113B m3 gas equivalent

Peru68%

YLNG23%

Yemen (Jannah)0%

STX & GC4%

Western2% West TX

2%

HOCC0% Colombia

0%

HOC Europe SWOT

• Strengths • Capability / experience at management

and technical level • Operator of choice • Well established network of

consultants • Established in Romania and Italy

• Opportunities • Exploration and development acreage becoming

available due to dissolution of state entities • Under-capitalised companies with significant

acreage positions, commonly with little operational experience.

• Under-utilisation of modern technologies • Premier pricing (oil and gas) • Continued (growing) dependence on external

supplies • Educated, enthusiastic, young, available,

workforce in Eastern Europe.

• Weaknesses – Competing capital projects – Delays due to bureaucracy – Eurozone / regional economic

difficulties – Internal / external control needs. – Human resources.

• Threats – Environmental lobby, and increasing

environmental legislation – Local, regional, and national governmental

processes – permitting, ratifications, data access

– Changes in tax legislation – “Managed” pricing structure in some markets – Partner non-alignment

HOC Europe BREAM

• Build • Grow positions in Romania, Italy, Turkey via

• Farm-ins • Bid Rounds • Divestitures

• Identify new areas of interest within the region and access via partnerships, farmin, buy out.

• Opportunities must be drillable within 3 years, have a range of opportunities, and significant upside value

• Define other value chain opportunities and transfer internal knowledge and expertise.

• Exploit • Identify and access exploration, development, and

production acreage becoming available due to dissolution of state entities

• Access opportunities via poorly capitalised / in-experienced companies

• Countries / basins / companies not utilising modern technologies.

• Identify and develop supplies into Europe from external sources to take advantage of premium market prices

• Rapidly train, develop and expose local workforces througout the organisation

• Resolve – Develop strategic / financial partnerships – Leverage lower priority items – Develop drilling opportunities – Achieve early cash flow – Hire experienced, quality personnel. – Hire local staff, mentor and train to fill

most positions within 2-3 years.

• Avoid / Manage – Monitor and be involved in processes and

legislative changes - be a "leader". – Promote and detail company's HSE qualities – Promote open communication with all

stakeholders – Operate where possible – Identify potential local markets with higher

price stucture / develop integrated approach to maximise profit.

Environmental, Social, Health, and Safety 2012- 2016 • Set goals and objectives for the region / operations • Develop, implement and monitor systems and practices. • Identify areas for improvement. • Review regularly. • Ensure understanding via multi-lingual, open and frequent communication

within and outside the organization. • Integrate corporate philosophy, planning, and procedures with ISO, OECD,

EPE, EBRD, national, regional and local standards. 2013 • Adjust current corporate ESHS policies accordingly. Translate into local

language. • Monitor, be involved with, and analyse ESHS programs during operations. • Devise and implement plans for working with permitting agencies within

operational areas. • Devise and implement plans for developing ties with the local communities

within operational areas. • ISO 9001, 14001, and OHSA 18001 certification

OMV Petrom and HOCOR Joint Venture

• Agreement between the 2 companies signed in September 2010.

• Blocks to be explored covered an area of > 8000 km2

• HOCOR established an office in Bucharest in October 2010.

• Operations commenced with 2D seismic operation in December 2010.

• Partnership spudded its first well, 20 Adjud, in August 2011.

• Partnership has worked closely to acquire and reprocess quality seismic data

• Partnership has a commitment to improve EHS in its operations and amongst its contractors

OMV Petrom - HOCOR JV Exploration Blocks

• >1700 km 2D acquired in two campaigns

• > 1600km of 2D

reprocessing • Drilling of 20

Adjud • Currently re-

entering well to test

• Planning

drilling campaign for latter part of this year

• Performed

geochemical analyses of 40+ liquids and 28 gases.

• High resolution

biostratigraphy and sequence stratigraphic study.

OMV Petrom - HOCOR JV Exploration Blocks