Cuba Block 9 – Exploration Resource Potential

• Cuba Oil and Gas Potential Untapped Region of the Gulf of Mexico The Gulf of Mexico is one of the world's great petroleum mega provinces - Cuba represents the under- explored south-eastern margin of this province US Geological Survey estimates undiscovered technically recoverable reserves of 4.6 billion barrels in North Cuba - Largest field - Varadero: >11 billion barrels OOIP Cuba currently producing ~45,000 barrels of oil and 3 million cubic metres of gas per day, but seeking to grow production - Imports 50% of oil Local market for oil and gas Limited application of modern exploration techniques due to 50+ year US embargo - Cuba Significant Undiscovered Potential Gulf of Mexico North Cuba Platform Margin Carbonate AU 150 Kilometers 150 Miles Fida Escarpment SHELF North Cuba Foreland Basin AU FLORIDA CUBA Atlantic Ocean BAHAMA PLATFORM YUCATAN PLATFORM North Cuba Fold and Thrust Belt AU Yucatan Basin Gulf of Mexico Cuba US Geological Survey (2004): "Total undiscovered technically recoverable reserves in North Cuba Basin of 4.6 billion barrels of crude oil, 9.8Tcf of natural gas and 900 million barrels of natural gas liquids" 8

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