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Investor Presentaiton

• Newfoundland and Labrador Offshore Area Relatively New Oil Producing region ● Potentially prospective area >200,000 sq. miles • Wells Drilled (July 2007): 288 - Exploration - Delineation 138 0 200m 200 1000m 1000m - 2000m + Labrador Shelf 2000m Orphan Basin 44 - Development 106 Laurentian Subbasin • 49 Significant Discoveries 6 Commercial Discoveries Grand Banks Flemish Pass Basin Jeanne d'Arc Basin
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