ITALY

OMBRINA MARE

Ombrina Mare 1 oil & gas discovery successfully appraised by OM2 in June 2008
Flow of approximately 1,000 bpd from horizontal drain
Certified P1 & P2 Oil Reserves 40MMbbls
Certified P1 & P2 Gas Reserves 6.5Bcf
Contingent Oil Resources 11 to 18MMbbls (Best to High case)
Satellite oil and gas prospects levels to be evaluated – development potential in conjunction with the main field
"Ombrina oil field" - Reserves estimate and Certification 8th February 2010 by S.I.M.

Ombrina Mare oil & gas field
Country, Area:	Italy, Adriatic Sea (Abruzzo)
Ownership:	Medoilgas Italia (100% W.I.)
Well Count:	OBM-1 discovery well; OBM-2 + 2 dir appraisal wells
Seismic Notes:	2D & 3D Seismic data
HC:	Biogenic Gas and Oil (17-18° API)
Play Type:	Apula Carbonate platform (oil), Pliocene Clastics (gas)
Reservoir level/facies/age:	Oil: Oligocene-Miocene carbonates and cretaceous (bioplastic packstone/grainstone); Gas: Pliocene sands gas complex
Oil Target Depth:	2100m tvdss

	Reserves	Reserves	Reserves		Resources
	P1	P2	2P (P1+P2)	P3	Contingent (best to high case)	Prospective (best to high case)
Ombrina Mare – Oil (MMbbls)	12.220**	28.018**	40.240**		11 to 18 *°°
Ombrina Mare – Gas (Bcf)			6.5 **	2.9 **	2.8 to 3.43 *
Other prospects – Oil (MMbbls)						10 to 20 *°°
Other Prospects – Gas (Bcf)						4.0 to 8.0 *

** Independent Certification by SIM

* Company calculation

*°° Company calculation, currently under review and re-assessment