BLOCK 64 : Karandashovsky

General Presentationof the Asset

02/05/2023 Property of OOO « SybexOil » All Right Reserved Copyright © 2013

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Oil in Western Siberia & Tomsk Region

Petroleum Reservoirs in Block 64 Area

Active Oil Companies in Tomsk Region

Block 64 : Introduction & History

Block 64 : Figures & Evidences

Block 64 : Opportunities

PRESENTATION OUTLINE

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MAJOR RUSSIAN PETROLEUM BASSIN

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BLOCK64

WSBLargest petroleum basin in the world

w/ 2.2M km 2

Discovered proven oil reserves are

144 BBL of oil

Source : Troika Dialog & U.S. Geological Survey

10% Of the giant petroleum field

are located in WSB

Undiscovered oil reserves assessed

8 BBL of oil

THE WEST SIBERIAN BASSIN

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WEST SIBERIAN BASIN (WSB)

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OILProduces 70% of Russian Oil (6.57 MBPD) Contains 64% of Russian oil reserves

GASProduces almost all of Russian GasContains 79% of Russian Natural Gas

EXPLORATION ACTIVITIES52% Russian drilling rigs located in WSB80% Drilling volume of Russia is in WSB

WSB

Source : rogtecmagazine.com

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WSB – UNDISCOVERED RESOURCES

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WSB

F95 represents a 95 percent chance of at least the amount tabulated Other fractals are defined similarly AU probability is the chance of at least one accumulation of minimum size Largest

Source : U.S. Geological Survey - 2003

KEY FACTSUndiscovered oil reserves assessed at a total of 8 BBL of oil

in MMBO

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WSB – OPPORTUNITIES & CHALLENGES

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WSBOpportunities

Late start of production (only in 1960’s) makes it a significant potential for reserve adds to existing fields and new field discoveriesWSB is the most prolific basin in the worldFiscal reform from the government to encourage green field development project

ChallengesAccess to qualified labor forceHSE concernsInfrastructures

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TOMSK REGION : OVERVIEW

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WSB

129Oil & Gas fields in

Tomsk region

102Blocks are

reporting activity under progress

22Oil companiesare currently

producing crude

Only 11fields are not yet

awarded

Y2012 oil production for Tomsk region11.86 MMT

C1 registered oil reserves nowadays

676.26 MMT

39Oil companiesare working in Tomsk region

Other oil reservesC2 267.8 MMT

C3+D 1616.1 MMT

Block 64 is located in the extreme west part of Tomsk region

Source : Rosnedra & rogtecmagazine.com - 2012

Area of 316 900 sqkm

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TOMSK REGION : DISCOVERIES

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WSB

2004 2005 2006 2007 2008 2009 2010 2011 2012

15.46

11.16 9.85 9.99 10.09 10.1610.53 11.5 11.86

4.09 4.15 2.92

37.74

22.119.13

10.36

42.7

8.6

Production & Discoveries

Production (MMT) C1 new dicoveries (MMT)

KEY FACTS98 new oil fields have been discovered only as of January 201272% of Tomsk Region is considered perspective for oil and gas

Source : Russian Ministry of Energy - 2012

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TOMSK REGION : INVESTMENTS

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WSB

2004 2005 2006 2007 2008 2009 2010 2011 2012

28289 32980

72455

119809110320

73464

104800

84378

95430

35031610 5716 10137 5869 4105 1454 5751 3018

113300

324 730 737 745 535 1297 1370

Investments in Exploration onlyDRILLING (m depth) 2D Seismic (km) 3D Seismic (sqkm)

Source : Rosnedra - 2013

KEY FACTSInvestment for Exploration, Construction, Production

In 2011 : 30.53 B RUB / In 2012 : 27.08 B RUB Investment (SPENT + planned) in Tomsk region 2013 : 31.36 B RUB

INVESTMENT (B RUB) 7.26

3.70

5.20

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OIL FIELDS IN THE AREA

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RESERVOIR

64

30

65

4951

6

24

34

63

45

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PETROLEUM RESERVOIRS OF THE AREA

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64

30

45

65

49

51

6

24

34

63

Fields Blocks Reserve

Glukhovskoye 51 4

Karasesvskoye - Tomsky 49 31

Karasesvskoye - Severnoye 49 10

Krapivinskoye 30 150

Krapivinskoye - Vostochnoye 30 34

Krapivinskoye - Severnoye 30 17

Moiseyevskoye 49 29

Moiseyevskoye - Zapadnoye 49 10

Pavlovskoye - Tomsky 49 18

Dvurechenskoye 49 6

Tagayskoye 49 152

Fedushkinskoye 45 28

Poselkovoye 24 26

Reserves were assessed and estimated in MBBL

RESERVOIR

Source : US Government Dept. of Energy - 1997

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ACTIVE COMPANIES AROUND BLOCK 64

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NEIGHBORS

E&P Companies (Focus on Tomsk Region) Production 2012

Production Plan 2013 Year Ratio

Tomskneft 6.969 6.770 97%

Gazpromneft Vostok 1.191 1.162 98%

TomskGazprom 1.059 1.080 83%

Russneft 1.045 1.115 102%

Imperial Energy 0.621 0.513 110%

VTK 0.424 0.477 113%

Matyuchkinskaya Vertical 0.206 0.235 114%

Stimul-T 0.104 0.147 140%

Yuzhno Okhteurskoye 0.075 0.805 108%

Tomskgeoneftgaz 0.029 0.628 145%

In MMT In MMT

Source : RF Ministry of Natural resources - 2013

Block 64 is also located at the border of Tyumen & Omsk region

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TOMSKNEFT (ROSNEFT)

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Tomskneft belongs to Rosneft (50%) & Gazprom (50%)Proved Oil and Gas Reserves : 1,121 MMBO

Major Fields : Nizhnevartoskoye, Strezhnevskoye, Chkalovskoye, Olenye, Sovetskoye, Krapivinskoye, Dvurechenskoye, West-Moiseevskoye, Igolsko-Talovoye

Block 30 :Krapivinskoye C1 39.759 MMT – production 45k BPD

Block 49 :Igolsko-Talovoye C1 13.812 MMT – production 17k BPDDvurechinskoye C1 6.100 MMT – production 2.8k BPD

NEIGHBORS

Source : DeGoyer & MacNaughton - 2010

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PETRONEFT

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NEIGHBORS

Source : Ryder Scott - 2010

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BLOCK 64 : OVERVIEW

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BLOCK 64

1257,8 км2 Surface

C3 of a 12,04 MMT

Source : VostokGazprom - 2007

5 Wells

2 103 км 2D Seismic

8 Structures

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BLOCK 64 : LICENSE AGREEMENT

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Awarded on Sept. 5th 2013License issued on Sept. 24th 2013Period : 5 + 20 yearsObligations :

2D Seismic – No obligation (has been removed)Initially it was 800 linear kmWe have performed a job of proving that such requirements is not necessary thanks to former works on this asset(We have saved 3.3M on exploration program)

3D Seismic – No obligation2 Wells Minimum

1st before June 30th 2016 / 2nd before March 31st 2017

BLOCK 64

Source : Rosnedra - 2013

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BLOCK 64 : BACKGROUND / SEISMIC

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BLOCK 64

OWNERSHIP

JOB PERFORMED

1981 1999 2007 20132009

Tomskneftegazgeologiaon behalf of Russian Govt

RussianGovt

2001 2005

RussianGovt

Tomskzapadnefton behalf ofRussian Govt

RussianGovt

1981 2000 2007 20132009

2 103 км OF SEISMIC 2D was performed with a gap between two scanned points of an average 1.67 linear

km/km2

Reinterpretation of Seismic 2D was done by VostokGazprom

with a C3 at 12.04 MMT

New Geological Program is being done

2D : meeting obligations with a 800 linear km/km2

3D : Aiming C1 confirmation from GKZ

Estimated cost of Job performed at 8.7 M$

Source : RosGeolFond- 2013

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BLOCK 64 : BACKGROUND / SEISMIC

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BLOCK 64

1990-1991

1981-1982

1985-1986

1987-1988

1989-1990

1991-1992

1997-1998

1999-2000

1999-2000 Numbers of perspective items

Oil resources in thousands tons

Balance Exploitable

Vtoraya - Karandashovskya (2224) 3710 1299

Zapadno - Karandashovskaya (2207) 2597 909

Severno - Karandashovskaya (148) 13136 4598

Vtoraya Severo -Karandashovskaya (148а) 3991 1397

Yakhskaya (2214а) 1248 438

Vostochno - Yakhskaya (2215) 3058 1071

Vostochno - Yakhskaya (2215а) 2241 785

Central Karandashovskaya (2220) 2778 972

Vtoraya - Nizjnekarandashovskaya

(2223+2223б)1636 573

Total 34395 12042

C3 resources are assessed at 12.04 MMT

Source : VostokGazprom - 2007

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BLOCK 64 : BACKGROUND / DRILLING

BLOCK 64

Job performed by …

1973 1999 2007 201320091975 1997 2001

Exploration Wells plan is being done

Karandashovshkaya 3Max Depth : 2807mNo evidence of oil

presencewas found Jan 14th 1973

Karandashovshkaya 1Max Depth : 2929mAt a depth between

2572,4m - 2578,6m was found an evidence of oil

presence Oct 30th 1973

March 20th 1997

Zapadno-Karandashovskaya 1Max Depth : 2881m

No evidence

Yakhskaya 1Max Depth : 2750m

No evidence

Vostochno-Karandashovskaya 15Max Depth : 2750m

No evidence

March 20th 1997

Sep 26th 1999

Dec 21st 2001

Drilling of 2 wells will be arranged

according to license agreements

TomskzapadneftTomskneftegazgeologia

Source : RosGeolFond- 2013

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BLOCK 64 : INFRASTRUCTURE

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BLOCK 64

Nearest refinery430 KM from Omsk refinery plant600 KM from Tomsk refinery plant660 KM from Antipinsk/Tuymen refinery plant

Roads / InfrastructureBlock 64 is located in 80 KM from Noviy Vasyugan townThere are Airport, all types communications, roads witch connect all blocks

PipelineThere is the pipeline 40 KM from 64 Block.The electricity source is attached

Logistic / ReplanishmentSummer Time Scenario : By the river (Shirokaya / center of Block 64)Winter Time Scenario : By the road

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BLOCK 64 : ESTIMATED RESERVES

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1P (estimation) 2P (equivalence) 3P (estimation)C1 to be performed 28.37, MMBO 61,44 MMBO

ProvedProved,

Probable

Proved, Probable

& Possible

C1+C2 (forecast) C3 D1 D25.10 MMT 12,04 MMT 9,04 MMT

Oct 2013 by IFCS 2007 by VostokGazprom after complete Seismic 2D

Aug 2013 by VNIGNI

Maturity of the Assessment

LOCA

L

STAN

DARD

SIN

TL

STAN

DARD

S

64 : FIGURES

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BLOCK 64 : EXPECTED DEBIT

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Region Blocks Annual Production per year (MMT)

Productive wells

Average debit (BPD)

Tomsk 61-67 0,09 9 289

Omsk 9 1,06 38 568

Tomsk 49 0,149 7 467

Tomsk 49 0,85 9 1,911

Tomsk 30 2,5 31 1,581

64 : FIGURES Blocks around are confirming the average debit of a well in this area of Tomsk region with a 700 bopd

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BLOCK 64 : DISTRIBUTION

1st Scenario : Truck to the refinery plant

3rd Scenario : Trading company – EX Works

2nd Scenario : Truck + pipeline

Distance is 430km from plant / transport is 3.17$ for 1KM / 250BBL per truckPrice should be 5.46$ per Barrel from field to local refinery

Distance is 40km from plant / transport is 3.17$ for 1KM / 250BBL per truckPrice should be 0.5$ per Barrel to the pipelineTransportation Fee is 3.17$ per Ton - via pipeline to local refineryPrice should be 0.92$ per Barrel from field to local refinery

Bought directly by local traders on the field 476$ per ton > 64.32$ per Barrel

Source : Incoterms - 2010

64 : FIGURES

4th Scenario : Building/Connecting pipeline

40km from the nearest pipeline : 13.12M$ to connect it to TransneftPrice should be 0.42$ per Barrel + construction

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BLOCK 64 : OPPORTUNITIES & CHALLENGES

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OpportunitiesLocated in the most prolific basin of Russia2D seismic was done on the all territoryUndeveloped tight oil shale play3 closest blocks have between 1 – 2.5 MMT production per year (blocks 9, 49, 30)No complex or strong commitments

ChallengesAccess to qualified labor forceSafety policy64 : OPPIES

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BLOCK 64 : RECOMMENDATIONS

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According to seismic conclusions :Re-drilled at first the well Karandashovsky 1 Secondly Drill in the area in the center of the block (Centralno-Karandashovskaya)Start operations in Centralno-KarandashovskayaIn parallel Perform 3D in the northern part of the block (Severno-Karandashovskaya) > to find where to drill in this zone because this area contains the most important reserves 4,598 MMTDrill and start operations in Severno-Karandashovskaya area

64 : OPPIES

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BLOCK 64 : BUSINESS PLAN / 5 years

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64 : OPPIES

INVESTMENT FOR EXPLORATION PROGRAM (1ST 5 YEAR)

YEAR

RE-PROCESSING SEISMIC DATA EXPLORATION DRILLING TECHNICAL

STUDIESTOTAL PRICE

VOLUME PRICE AMOUNT PRICE PRICE

2014 800 $700,000 $70,000

2015 $70,000

2016 1 $5,000,000 $250,000

2017 1 $5,000,000 $500,000

2018 $100,000

Total 800 $700,000 2 $10,000,000 $990,000 $11,690,000

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BLOCK 64 : BUSINESS PLAN / 20 years

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64 : OPPIES

INVESTMENT FOR PRODUCTION PLAN (FOR 20 YEARS)

Items VOLUME PRICE PER ONE TOTAL PRICE

Drilling of production wells 22 wells $3,500,000 $77,000,000

Seismic 3D - North Area of the block 200km $28,500 $5,700,000

Capital construction (Pads, Infrastructure) $13,829,954

Construction of Camps & Facilities 35 man $40,000 $1,200,000

Pipeline 40 km $325,000 $13,000,000

Road 40 km $228,000 $9,120,000

Power station (100 MW) 1 $1,900,000 $1,900,000

Risk 10% $11,984,995

Total $133,734,949

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BLOCK 64 : VALUATION

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64 : OPPIES

Based on 2007 tender Based on 2012 C3 estimation

1 Barrel in the ground (Tomsk Region) = 0.3$ C3 reserves = 3.88 MMTC3 reserves = 28.9448 MMBO

Value of USD 8,683,440

In Dec 2007 : 1 Barrel = 90.93USDPrice was 168M RUB (1USD = 24,5RUB)Price was USD 6,857,142.86 In August 2013 : 1 Barrel = 105.5USD

Value of USD 7,955,880

Value of Block 64 is estimated at USD 8,319,660

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Further contacts

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info@sybexalliance.comwww.sybexalliance.com