Investor Presentaiton

Alaska's oil production is likely to continue to decline. Production from new, smaller fields that are under development or are under evaluation for potential development is not expected to be enough to offset the continuing rapid decline in currently producing fields. North Slope Historical and Forecasted Oil Production (from the Alaska Department of Revenue's Fall 2011 Revenue Forecast) Millions of barrels per day 1.1 1.0 History Forecast 0.9 0.8 0.7 Under Evaluation 0.6 0.5 0.4 Under Development 0.3 0.2 Currently Producing 0.1 0.0 2001 2003 2005 2007 2009 2011 2013 2015 2017 2019 2021 21

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