Thailand Overview

– 60% WI & Operator
– 0.5 million net acres

       – 100% WI & Operator
       – 1 million net acres

Excellent infrastructure
Crude fetches ~90% of WTI
Two rigs under long term contract (approx. $0.8- 1.0MM USD/well)
14-21 days per well
50% Tax + 5-15 % (sliding scale) royalty + SRB (0-37.5% ring fenced by concession)after tax of profits, once capital is recovered
$2.50 USD/bbl trucking cost to Bangkok refinery