Top of the line Hi-Res 3D services

Intelligent and versatile low-fold 3D seismic acquisition for the petroleum industry and marine geophysical research

Screen dumps and the underlying data in this document are

confidential and proprietary to WGP Survey Ltd or its partners. This

data shall not be distributed outside your company or used inside your

company for any other purpose than illustrating the product

presented and any required management approvals.

In particular, the images shall not be scanned or loaded to any

PC/workstation that makes the data image capable of manipulation or

transformation back into commercially viable information.

WGP Survey Ltd

• Company

• Services

P-Cable Technology

• Development

• Data examples

OUTLINE

WGP Survey Ltd was established in 2012 and is a Joint Venture company between WGP-Group and Fjorgyn AS.

The purpose of the joint venture is a collaboration and union of WGP’s operational experience and capability, coupled with the technology and know-how that P-Cable 3D Seismic has developed and patented.

Together, the partners shall perform 3D seismic data acquisition surveys utilising the P-Cable™ 3D Seismic System.

COMPANY

Thalassa Holding Ltd P-Cable 3D Seismic AS

WGP Group Fjorgyn AS

WGP Survey Ltd

COMPANY STRUCTURE

WGP Exploration LtdFormally part of the Westland GeoProjects Ltd group which was family founded in 1991, WGP Exploration was incorporated in 2009 and acquired by Thalassa Holdings Ltd on the 16th November 2011.

It is the operational division of the Group with experience of conducting seismic survey operations in the marine environment for major E&P companies.

WGP Energy Services Ltd Established to acquire marine seismic equipment, initially Portable Modular Source Systems ("PMSS™").

Thalassa Holdings LtdListed on the Alternative Investment Market of the London Stock Exchange on 29 July 2008, with symbol "THAL".

Fjorgyn AS Was established as a service company in 2012. The company provide a turn-key solution for services with the P-Cable seismic system. Fjorgyn AS is the active partner in the WGP Survey Ltd Joint Venture.

P-Cable 3D Seismic AS P-Cable 3D Seismic AS was established in 2008. The company is a R&D company with the main focus on developing and commercializing the P-Cable™ seismic system. P-Cable 3D Seismic owns all commercial rights to the P-Cable system.

With 10 years of experience using and acquiring data with the P-Cable 3D Seismic System

+20 years of marine survey knowledge

SERVICES

We provide together with partner companies a full turn-key solution

for our clients.

SUPPLIERS

Image courtesy: Geometrics Inc.

P-CABLE TECHNOLOGY

Recovery rope

P-CABLE TECHNOLOGY

P-Cable patent: NO. Pat. No. 317651 | UK. Pat. No. GB 2401684 B | US. Pat. No. 7,221,620 B2

10 years of acquisition experience using the P-Cable™

2009: Commercial P-Cable2 data on Peon, Statoil (188 km2)

2010: Commercial P-Cable3 available;

manufactured and sold by Geometrics

2012: WGP Survey Ltd

2012: Commercial survey in the Barents Sea

2001: P-Cable concept testing

2004: P-Cable1 prototype (NOC system); patent

2006: P-Cable2 system / 24 streamer digital system

2007: P-Cable2 Peon survey; better resolution than conventional 3D

MILESTONES

P-Cable systems are owned and operated by: IFM-Geomar, University of Tromsø, University of Texas, National Oceanography Center Southampton, P-Cable 3D Seismic AS and WGP Survey Ltd

50 P-CABLE 3D SURVEYS

Ongoing• G3 National Infrastructure• GLANAM• Skattefunn – 4D

Completed• Joint industry project (with

Hydro/Statoil)• EU and NFR projects (HERMES, GANS,

FluidFlow, etc.)• Skattefunn

Total P-Cable related project funding of > 100 MNOK

RESEARCH PUBLICATIONS

• Large gas discovery in the northern North Sea

• First ever commercial size deposit found in such young and shallow sediments

• JIP with Statoil 2006-2007 developing the digital P-Cable2 system

• P-Cable surveys in 2007 and 2009

• 2009 survey is the biggest P-Cable survey so far covering 188 km2

• Acquired by a 24 streamer P-Cable system

Summary| PEON

Data by Statoil

35/2

-1

Intra Reservoir Features| PEON

Conventional 3D 2006 P-Cable 2007

Intra reservoir features

GWC

Data by Statoil

Insert 2007 P-Cable survey showing auto-tracked interpretation based on the high resolution seismic. High level of structural details showing a variety of glacial features (although some acquisition imprints are visible. Notice how the GP3 gas producer (location based on conventional seismic) is located in a deep plough mark feature previously invisible. This illustrates a key benefit of using P-Cable high resolution 3D seismic in the field development.

35/2-1

N

Data by Statoil

P-Cable Overlying Conventional 3D | PEON

2006 3D survey

2007 P-Cable

Close-up view: Top Peon rms amplitude/variance map based on NH06M04_Final_mig.

P-Cable vs. Conventional 3D| PEON

Data by Statoil

2009 P-Cable survey2006 3D survey

Data by Statoil

Close-up view: Top Peon rms amplitude/variance map based on NH06M04_Final_mig.

P-Cable vs. Conventional 3D| PEON

Data by Statoil

2009 P-Cable survey

• Two cubes acquired in the western Barents Sea in 2009 at 300 m water depth by UiT with support from Lundin, cube sizes: 13 and 16 km2

• The sea floor in the area is very rough and covered by iceberg plough marks

• A regional unconformity, URU, separates the glacial deposits from the westward dipping Paleogene sediments below

• Large accumulations of shallow gas and gas hydrates

Shallow Gas & Gas Hydrates| BARENTS SEA

Data by UiT Data by UiT

Data Comparison| CUBE 1 BS

Data by UiT

Data by Lundin

P-Cable 3D

Conventional 3D

Seafloor

Intra Glacial

URU

Top Gas

Shallow Gas Shallow Gas

Shallow Gas & Gas Hydrates| CUBE 1 BS

Data by UiT

• Formed by ice sheet erosion during the Plio-/Plestocene ice age

• Up to 15 meter deep iceberg plough marks

P-CableMultibeam

Seafloor| CUBE 1 BS

Data by UiTData by UiT

-1.20

-0.30

-0.75

• Plough marks from ice sheet erosion

• Two amplitude domains

• Shallow gas

Shallow Gas

Shallow Gas

Shallow High Amplitude Reflections | CUBE 1 BS

Data by UiT

0.09

Amplitude

1.80

0.90

• Plough marks and erosion features mainly SE-NW

• Underlying N-S stratigraphy visible as high amplitude on horizon

• Separating glacial sediments from gently westward dipping Paleogene sediments

Shallow GasURU Horizon| CUBE 1 BS

Data by UiT

0.09

Amplitude

1.80

0.90

AmplitudeHigh

Low

• Cross cutting but dipping

• More obvious cross cut N-S than E-W

• Strange texture

High Amplitude Cross Cutting Horizon| CUBE 1 BS

Data by UiTData by UiT

Data by UiT

Shallow High Amplitude Reflections | CUBE 2 BS

Data by UiT

Data by UiT

Shallow Gas | BARENTS SEA 2012

Data by Spring Energy Norway

Conventional 3D

P-Cable 3D

Current P-Cable system14 GeoEel Solid streamers

Ethernet switches for each streamer

Depth measurement

PBX and triggerfish navigation solution

160 in3 air gun source (6 gun array)

Survey parametersProduction: 7-8 km2

Turn time: 30 min

Frequency: <350 Hz

Survey: 20-200 km2

Operating Zones: All

Min water depth: 10 m

Weather: Force 4

Survey speed: 4.5 knots

KEY FIGURES

Intelligent and

Versatile Acquisition

QC-DATA

SURVEY

DECISION

CLIENT

OPERATIONS

Cross Cable with Junction Boxes

SYSTEM COMPONENTS

GeoEel Solid™ Streamer

SYSTEM COMPONENTS

Air gun array with GPS

SYSTEM COMPONENTS

Positions calculated from stable towing configuration. Positions quality controlled using first break

Independent positioning sensors on streamers tied to paravane and gun GPS pods available

Depth sensors at cross cable and tail of streamer

SYSTEM POSITIONING

Cross cable

• Titanium and Dyneema® construction• Fully interchangeable components• 37 mm overall diameter• Integrated 100 mbs switch, • Depth sensor, 0.1 m accuracy

Digitizer

• 8-channel digitizer• Titanium construction

Solid Streamer• Solid polyurethane construction• 8-channel sections• 12.5 – 100 m length• 44 mm diameter• 1/8 – 2 ms sampling• Non-flammable• No bulge wave• Complete built-in analog self-test• Capacitance and leakage tests• Standard Ethernet communication• Bird coil at each end

Paravane• Solid steel-PEH construction• 20 kN lift @ 37° angle and 4.5 kt*• 4.0 m length• 2.85 m height• Weight 900 kg• Generator and battery box

GPS• Standard seismic GPS systems• 1-3 m accuracy • 0.25 m relative accuracy• 3 antennas on system 2 on vessel

Seismic Source• Air gun array, 120 - 420 cu in• Shot interval 6.25 - 12.5 m• Towed at 50 -70 m distance• Flip flop array if 6.25 m shot interval• 160 cu in @ 6.25 m = 378 cfm

Digital compass

• 0.3 ° accuracy• NCS SubSea provided service

COMPONENT SPEC

Proven technology

Excellent data quality

50 cubes acquired worldwide

Intelligent and versatile acquisition

CONCLUSIONS

WGP Survey Ltd West Street | Kilkhampton | Bude | Cornwall | EX23 9QW | United Kingdom

Tel +44 (0) 1288 322 000 Fax +44 (0) 1288 322 001Email info@wgp-group.com | pcable@wgp-group.com Web www.wgp-group.com