Investor Presentation - Proactive Investors

2009 Updated Guidance
• Group average 2009 WI Production ~ 7,750 bopd (unchanged from June)
– Syria : 6,400 bopd
– US : 1,350 boepd (slower than expected recovery from Hurricane)
• Past costs in Syria will be fully recovered by year‐end 2009
• Group Operating Costs ~ $16 MM
– Excludes DD&A, P&A costs
• Operating Cash Flow : ~ $55MM @ average Brent $60/bbl
– Previously $50 MM @ average Brent $55/bbl
• Capex : ~ $35MM
– Previously $47MM : all central production facility capex now deferred to 2010
• Estimated year‐end free cash balances ~ $55 MM
– Previously $40 MM
– Excludes escrow cash for US decommissioning liabilities
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