Investor Presentaiton

0.0 00 2.5 Alaska's oil production is declining. Alaska oil production began with the Cook Inlet oil fields (near Anchorage!) in the 1960s. But it was the North Slope oil fields that made Alaska a major oil producer. North Slope oil production began after the Trans-Alaska Pipeline was completed in 1977, and grew very rapidly to a peak of about 2 million barrels per day in 1988. Production has since fallen by more than two-thirds, to 0.6 million barrels per day in 2011, as oil has been pumped out of the huge Prudhoe Bay and Kuparuk fields. Alaska Oil Production, Historical and Projected 1.5 millions of barrels per day 0.5 1.0 2.0 1959 1962 1965 1968 1971 1974 1977 1980 1983 1986 1989 Historical: 1959-2011 1992 1995 Projected: 2012-21 | North Slope Cook Inlet 20 20

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