WesternZagros Resources One2One Presentation - September 2011

Kurdamir and Garmian Blocks Prospective and Contingent Resources Footnotes
(6) Low Estimate is considered to be a conservative estimate of the quantity that will actually be recovered. It is likely that the
actual remaining quantities recovered will exceed the low estimate. If probabilistic methods are used, there should be at
least a 90 percent probability (P90) that the quantities actu ally recovered will equal or exceed the low estimate.
(7) Best Estimate is considered to be the best estimate of the quantity that will actually be recovered. It is equally likely th at
the actual remaining quantities recovered will be greater of less than th e best estimate. If probabilistic methods are used,
there should be at least a 50 percent probability (P50) that the quantities actually recovered will equal or exceed the best
estimate.
(8) High Estimate is considered to be an optimistic estimate of the quan tity that will actually be recovered. It is unlikely that
the actual remaining quantities recovered will exceed the high estimate. If probabilistic methods are used, there should be
at least a 10 percent probability (P10) that the quantities actually reco vered will equal or exceed the high estimate.
(9) Mean Estimate is the average from the probabilistic assessment.
(10) The prospective resource estimates for the Qulijan Oligocene, Eocene and Cretaceous, Baran Oligocene and Eocene,
and Sarqala Oligocene, Eocene a nd Cretaceous prospects are based upon interpretation of WesternZagros’ recent
vintage 2D seismic database within Block K44 (1483 kilometres, 42 lines)and well data from WesternZagros’ Kuramir - 1
and Sarqala - 1 wells (prior to the re - entry) .
(11) The Qulijan Oligocene, Eocene and Cret aceous prospective resource assessment is based on eight 2D seismic lines and
offsetting Kurdamir - 1 well information.
(12) The Baran Oligocene and Eocene prospective resource assessment is based on nine 2D seismic lines and nearby
Kurdamir - 1 well information.
(13) The Sarqala Oligocene, Eocene and Cretaceous prospective resource assessment is based on seven 2D seismic and
information from the Sarqala - 1 well drilled in 2008 - 2009.
(14) Barrels of oil equivalent (BOEs) may be misleading, particularly if used in isolation. A BOE conversion ratio of 6 Mcf: 1 bbl
has been used and is based on an energy equivalency conversion method primarily applicable at the burner tip and does
not represent a value equivalency at the wellhead.
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