Growing with Mexico in a New Era of Energy Reform

Upper Jurassic Shales in Mexico Compare to Major Tight Oil Plays BOE per Acre/ Foot Resource Concentration 700 Hydrocarbon Generation Potential 300 600 500 400 300 200 100 0 ||||| 250 Million BOE per Section 200 150 100 50 0 Permian USA Vaca Muerta Argentina Eagle Ford USA U. Jurassic Mexico Woodford USA Eagle Ford USA Woodford USA Vaca Muerta Argentina U. Jurassic Mexico Permian USA Pimienta, Taman, Santiago U. Jurassic Tampico-Misantla Basin Vaca Muerta U. Jurassic/L. Cretaceous Neuquen Basin Argentina² Eagle Ford Cretaceous Coastal Basin Wolfcamp Permian Midland Basin Woodford Devonian Anadarko Basin Mexico¹ Texas, USA³ Texas, USA4 Oklahoma, USA Average Original TOC (wt.%) 4.50 4.85 4.10 5.90 6.15 Average Carbonate Content (%) 50% 45% 60% 25% 15% Average Silica Content (%) 20% 15% 20% 50% 40% Source Rock Type Marine carbonate Marine carbonate Marine carbonate Marine shale Marine shale Brittleness Rating Very brittle Very brittle Very brittle Very brittle Very brittle Average Porosity 6.0% 6.0% 7.0% 6.0% 6.5% Average Depth (ft) 11,000 10,000 10,500 8,500 12,000 Average Pressure (psi) 7,700 7,000 7,300 4,250 7,800 Average Thickness (ft) 650 450 190 1,000 260 RENAISSANCE OIL CORP 1 Jarvie and Smyth, 2016 2 Jarvie and Rosario-Rosso, 1991 3 Robison, 1997 4 Laredo Petroleum, 2013 5 Jarvie, 2008 10

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