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net asset value (nav) - Primera Energy Resources Limited

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WD-4 Economics (AJM - 13 locations)<br />

Project Returns*<br />

37.7%<br />

Petroleum Profit<br />

Tax (PPT) &<br />

Levies<br />

11.7%<br />

Annual Licence<br />

Payments<br />

0.3%<br />

Royalties<br />

41.5%<br />

SSupplemental pplemental<br />

Petroleum Tax<br />

(SPT)<br />

8.8%<br />

* Negotiated reduction in Over Riding Royalty rates with State oil company Petrotrin<br />

** Operating costs not deducted<br />

TSX-V: PTT 22<br />

Number of Wells: 13<br />

Total Reserves (MBO) per Well: 72<br />

Estimated Program Cost (CDN$M): 11,243<br />

Probability of success (%): >85<br />

NPV10% BT (CDN$M): (CDN$M) 88,754 754<br />

Gross Revenue Distribution US$M<br />

Royalties* 35,355.6<br />

Supplemental Petroleum Tax (SPT) 7,496.0<br />

Annual Licence Payments 234.1<br />

Petroleum Profit Tax (PPT) & Levies 9,985.4<br />

Project Returns** 32,123.1<br />

PRIMERA ENERGY RESOURCES LTD.

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