LIVERPOOL BAY CRUDE OIL ASSAY

conducted by

INTERTEK TESTING SERVICES (UK) LIMITED Wellheads Crescent

Wellheads Industrial State Aberdeen AB21 7GA

United Kingdom

for

BHP Petroleum Pty Ltd

MARCH 2000

Your Ref: 49004667 Date: 13-Apr-00

Laboratory Test Report No. 00-001534-0-ABDN

BHP Petroleum Ltd Devonshire House Piccadilly LONDON WIX6AQ SAMPLE DETAILS : 1 Samples received 15-Mar-00 SOURCE : BHP Petroleum Ltd DESCRIPTION : Liverpool Bay Crude LAB REF : 001-00 CONTAINERS : 1 x 25 Ltr Metal Drum SEALS : 0 RESULTS : SEE ATTACHED SHEETS Tests marked with an asterisk(*) are not NAMAS accredited. Reported by: Approved by: Craig Cummine Alistair Park

Laboratory Test Report 00-001534-0-ABDN; 1 Page 3 of 15

CRUDE OIL ASSAY

WHOLE CRUDE

API Gravity oAPI 45.0 Specific Gravity 60/60°F 0.8018 Density @ 15°C g/ml 0.8014 Total Sulphur % Wt 0.21 Mercaptan Sulphur ppm Wt 712 Hydrogen Sulphide ppm Wt <1 Total Nitrogen ppm Wt 190 Basic Nitrogen ppm Wt 66 Reid Vapour Pressure psi 7.1 Water Content % Wt 0.046 Salt Content PTB 9.92 Pour Point °C -21 UOP K Factor 12.3 Total Acid Number mg KOH/g 0.03 Viscosity 20°C cSt 4.048 Viscosity 40°C cSt 2.430 Conradson Carbon Residue % Wt 0.92 Sediment % Wt <0.01 Asphaltenes % Wt 0.05 Wax Content % Wt 7.04 Nickel ppm Wt 0.1 Vanadium ppm Wt <0.1 Copper ppm Wt 0.1 Sodium ppm Wt 4.9 Iron ppm Wt 2.5

Laboratory Test Report 00-001534-0-ABDN; 1 Page 4 of 15

CRUDE OIL ASSAY

LIGHT HYDROCARBONS SUMMARY

Component Vol% on Crude

Propane 0.35

iso-Butane 0.86

n-Butane 1.50

2,2-Dimethylpropane 0.03

iso-Pentane 2.25

n-Pentane 2.85

C1 to C4 on Crude 2.74

Laboratory Test Report 00-001534-0-ABDN; 1 Page 5 of 15

CRUDE OIL ASSAY

TRUE BOILING POINT DISTILLATION

CumVol% TempDeg F TempDeg C MidVol% SG60/60F APIGravity CumWgt% 3.4 68.0 20.0 1.7 0.5850 110.4 2.5 8.1 122.0 50.0 5.7 0.6322 92.3 6.2 9.6 140.0 60.0 8.8 0.6574 83.7 7.5 12.8 158.0 70.0 11.2 0.6787 77.0 10.2 14.6 176.0 80.0 13.7 0.7094 68.0 11.8 17.5 194.0 90.0 16.0 0.7244 63.8 14.4 22.1 212.0 100.0 19.8 0.7355 60.9 18.7 24.8 230.0 110.0 23.4 0.7439 58.7 21.2 27.2 248.0 120.0 26.0 0.7445 58.6 23.5 29.6 266.0 130.0 28.4 0.7511 56.9 25.7 31.8 284.0 140.0 30.7 0.7595 54.8 27.8 34.0 302.0 150.0 32.9 0.7664 53.1 29.9 35.8 320.0 160.0 34.9 0.7743 51.2 31.7 37.6 338.0 170.0 36.7 0.7826 49.3 33.4 39.4 356.0 180.0 38.5 0.7883 48.0 35.2 41.5 374.0 190.0 40.4 0.7946 46.6 37.2 42.7 392.0 200.0 42.1 0.7971 46.0 38.4 44.4 410.0 210.0 43.5 0.8040 44.5 40.1 46.2 428.0 220.0 45.3 0.8048 44.3 42.0 48.4 446.0 230.0 47.3 0.8078 43.7 44.2 50.2 464.0 240.0 49.3 0.8124 42.7 46.0 52.2 482.0 250.0 51.2 0.8180 41.5 48.0 54.4 500.0 260.0 53.3 0.8248 40.1 50.4 56.4 518.0 270.0 55.4 0.8303 38.9 52.4 58.1 536.0 280.0 57.3 0.8340 38.2 54.2 60.2 554.0 290.0 59.1 0.8347 38.0 56.4 62.2 572.0 300.0 61.2 0.8341 38.1 58.5 64.0 590.0 310.0 63.1 0.8416 36.6 60.3 65.5 608.0 320.0 64.7 0.8420 36.6 61.9 67.9 626.0 330.0 66.7 0.8455 35.9 64.4 69.3 644.0 340.0 68.6 0.8500 35.0 65.9 70.8 662.0 350.0 70.0 0.8510 34.8 67.5 72.4 680.0 360.0 71.6 0.8530 34.4 69.2 76.7 752.0 400.0 74.5 0.8604 33.0 73.9 79.4 797.0 425.0 78.1 0.8621 32.6 76.8 82.1 842.0 450.0 80.8 0.8666 31.8 79.7 86.5 887.0 475.0 84.3 0.8749 30.2 84.5 89.0 932.0 500.0 87.8 0.8822 28.9 87.3 91.4 977.0 525.0 90.2 0.8914 27.2 89.9 92.6 1004.0 540.0 92.0 0.8973 26.2 91.2

100.0 1004.0 + Res 540.0 + Res 96.3 0.9522 17.1 100.0

Laboratory Test Report 00-001534-0-ABDN; 1 Page 6 of 15

Laboratory Test Report 00-001534-0-ABDN; 1 Page 7 of 15

CRUDE OIL ASSAY

NAPHTHAS

Boiling Range °C C5 - 70 70 - 140 140 - 190

oF C5 - 158 158 - 284 284 - 374

Yield Range vol% 3.4 - 12.8 12.8 - 31.8 31.8 - 41.5

wgt% 2.5 - 10.2 10.2 - 27.8 27.8 - 37.2

Yield vol% 9.4 19.0 9.7

wgt% 7.7 17.6 9.4

API Gravity °API 90.0 60.1 49.7

Specific Gravity 60/60°F 0.6387 0.7384 0.7809

Density 15.0°C g/ml 0.6386 0.7382 0.7806

Total Sulphur wgt % 0.0496 0.0691 0.15

Sulphur as Mercaptans ppm 341 369 888

Total Nitrogen mg/l <1 8 13

n-Paraffins vol% 46.20 22.66 19.17

iso-Paraffins vol% 45.99 26.13 21.43

Naphthenes vol% 7.58 46.24 44.19

Aromatics vol% 0.23 4.97 15.21

Total Unknowns vol% <0.01 <0.01 <0.01

Aromatics (FIA) vol% - - 12.5

Research Octane No. 70.0 51.7 <40

Motor Octane No 66.4 55.2 40.9

Freezing Point °C - - <-60

Smoke Point mm - - 30

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CRUDE OIL ASSAY

NAPHTHA COMPONENTS

Boiling Range °C C5 - 70 70 - 140 oF C5 -158 158 - 284 Yield Range vol% 3.4- 12.8 12.8- 31.8 wgt% 2.5- 10.2 10.2- 27.8 Yield vol% 9.4 19.0 wgt% 7.7 17.6 Component Name wgt% vol% wgt% vol% Propane 0.010 0.011 <0.001 <0.001 Iso-Butane 0.085 0.100 0.006 0.008 n-Butane 2.223 2.484 0.056 0.071 2,2-Dimethylpropane 0.100 0.106 <0.001 <0.001 Iso-Pentane 17.060 17.854 0.024 0.029 n-Pentane 25.906 26.820 0.047 0.055 2,2-Dimethylbutane 1.273 1.281 <0.001 <0.001 C5 Mono-Napthene 1.346 1.171 <0.001 <0.001 2,3-Dimethylbutane 2.259 2.215 0.115 0.127 2-Methyl pentane 14.940 14.842 0.936 1.051 3-Methyl pentane 9.227 9.016 0.969 1.070 n-Hexane 17.161 16.882 4.283 4.764 2,2 Dimethylpentane 0.167 0.161 0.302 0.329 Methylcyclopentane 4.587 3.981 2.242 2.198 2,4-Dimethylpentane 0.198 0.191 0.511 0.557 2,2,3-Trimethylbutane <0.001 <0.001 0.059 0.063 Benzene 0.074 0.055 0.026 0.022 3,3-Dimethylpentane <0.001 <0.001 0.180 0.191 C6 Mono-napthene 2.861 2.385 7.809 7.363 2-Methylhexane 0.112 0.107 3.795 4.105 2,3-Dimethylpentane 0.037 0.034 1.053 1.111 1,1-Dimethylcyclopentane 0.051 0.044 0.970 0.944 3-Methylhexane 0.062 0.059 4.217 4.503 cis-1,3-Dimethylcyclopentane <0.001 <0.001 1.171 1.154 trans-1,3-Dimethylcyclopentane <0.001 <0.001 1.060 1.039 3-Ethylpentane 0.028 0.026 0.280 0.295 trans-1,2-Dimethylcyclopentane <0.001 <0.001 1.928 1.883 n-Heptane <0.001 <0.001 9.705 10.416 Methyl Cyclohexane <0.001 <0.001 14.697 14.030 1,1,3-Trimethylcyclopentane <0.001 <0.001 0.999 0.986 Ethylcyclopentane <0.001 <0.001 0.506 0.485 2,5-Dimethylhexane <0.001 <0.001 0.564 0.597 2,4-Dimethylhexane <0.001 <0.001 0.682 0.715 ctc-1,2,4-Trimethylcyclopentane <0.001 <0.001 0.718 0.705 3,3-Dimethylhexane <0.001 <0.001 0.213 0.222 c-t-c-1,2,3-Trimethylcyclopentane <0.001 <0.001 0.607 0.591 Toluene 0.233 0.175 3.630 3.075 1,1,2-Trimethylcyclopentane <0.001 <0.001 0.703 0.672 2,3 Dimethylhexane <0.001 <0.001 0.097 0.100

Laboratory Test Report 00-001534-0-ABDN; 1 Page 9 of 15

CRUDE OIL ASSAY

NAPHTHA COMPONENTS (cont’d)

Boiling Range °C C5 - 70 70 - 140 °F C5 -158 158 - 284 Yield Range vol% 3.4- 12.8 12.8- 31.8 wgt% 2.5- 10.2 10.2- 27.8 Yield vol% 9.4 19.0 wgt% 7.7 17.6 Component Name wgt% vol% wgt% vol% 2-Methylheptane <0.001 <0.001 3.838 4.037 4-Methylheptane <0.001 <0.001 1.244 1.296 3,4 Dimethylhexane (D) <0.001 <0.001 0.122 0.125 3,4 Dimethylhexane (L) <0.001 <0.001 0.086 0.088 cis-1,3 dimethylcyclohexane <0.001 <0.001 6.136 5.917 trans-1,4 dimethylcyclohexane <0.001 <0.001 1.338 1.289 1,1 Dimethylcyclohexane <0.001 <0.001 0.517 0.489 trans-1,3-Ethylmethylcyclopentane <0.001 <0.001 0.180 0.170 cis-1,3 Ethylmethylcyclopentane <0.001 <0.001 0.126 0.119 Trans-1,2-Ethylmethylclylopentane <0.001 <0.001 0.244 0.230 1-Ethyl, 1-Methyl-cyclopentane <0.001 <0.001 0.077 0.073 Trans-1,2-Dimethylcyclohexane <0.001 <0.001 1.307 1.237 n-Octane <0.001 <0.001 6.023 6.294 C9 Napthene 1? <0.001 <0.001 0.086 0.081 C9 Napthene 2? <0.001 <0.001 0.049 0.047 2,3,5-Trimethylhexane <0.001 <0.001 0.049 0.050 cis-1,2-Ethylmethlycyclopentane <0.001 <0.001 <0.001 <0.001 2,2-Dimethylheptane <0.001 <0.001 0.134 0.137 cis-1,2 Dimethycyclohexane <0.001 <0.001 0.211 0.195 2,4-Dimethylheptane <0.001 <0.001 0.363 0.375 4,4 Dimethylheptane <0.001 <0.001 0.028 0.029 Ethylcyclohexane <0.001 <0.001 2.666 2.499 2-6 Dimethylheptane <0.001 <0.001 0.956 0.996 1,1,3 Trimethylcyclohexane <0.001 <0.001 0.827 0.784 1,1,4 Trimethylcyclohexane <0.001 <0.001 0.142 0.135 2,5 Dimethylheptane + 3,5 Dimethylheptane (D) <0.001 <0.001 0.701 0.713 3,3 Dimethylheptane + 3,5 Dimethylheptane (L) <0.001 <0.001 0.165 0.167 C9 Napthene 3 ? <0.001 <0.001 0.063 0.060 C9 Napthene 4 ? <0.001 <0.001 0.026 0.025 Ethylbenzene <0.001 <0.001 0.079 0.067 2,3,4-Trimethylhexane <0.001 <0.001 0.062 0.063 ctt-1,2,4 Trimethylcyclohexane <0.001 <0.001 0.311 0.288 m-Xylene <0.001 <0.001 1.494 1.270 P-Xylene <0.001 <0.001 0.342 0.292 2,3-Dimethylheptane <0.001 <0.001 0.268 0.271 3,4-Dimethylheptane (D) <0.001 <0.001 0.197 0.198 3,4-Dimethylheptane (L) <0.001 <0.001 0.079 0.081 4-Methyloctane <0.001 <0.001 0.535 0.549 2-Methyloctane <0.001 <0.001 0.698 0.719 ctc-1,2,4-Trimethlycyclohexane <0.001 <0.001 0.050 0.046 3-Ethylheptane <0.001 <0.001 0.106 0.108 3-Methyloctane <0.001 <0.001 0.749 0.763

Laboratory Test Report 00-001534-0-ABDN; 1 Page 10 of 15

CRUDE OIL ASSAY

NAPHTHA COMPONENTS (cont’d)

Boiling Range °C C5 - 70 70 - 140 °F C5 -158 158 - 284 Yield Range vol% 3.4- 12.8 12.8- 31.8 wgt% 2.5- 10.2 10.2- 27.8 Yield vol% 9.4 19.0 wgt% 7.7 17.6 Component name wgt% vol% wgt% vol% O-Xylene + 1,1,2-Trimethylcyclohexane <0.001 <0.001 0.244 0.204 Trans-1,4-Ethylmethylcyclohexane <0.001 <0.001 0.249 0.236 cis-1,4-Ethylmethylcyclohexane <0.001 <0.001 0.047 0.043 Trimethylhexane (2) ? <0.001 <0.001 0.122 0.124 n-Nonane <0.001 <0.001 1.034 1.058 Isoproylbenzene <0.001 <0.001 0.054 0.046 tert-butylcyclopentane <0.001 <0.001 0.077 0.072 iso-propylcyclohexane <0.001 <0.001 0.039 0.036 3,3,5-trimethylheptane <0.001 <0.001 0.029 0.029 2,6 Dimethyloctane <0.001 <0.001 0.133 0.134 n-butylcylopentane <0.001 <0.001 0.031 0.029 n-Propylbezene <0.001 <0.001 0.060 0.051 1,3,5-Trimethylbenzene <0.001 <0.001 0.047 0.040 n-Paraffins 45.301 46.197 21.148 22.658 iso-Paraffins 45.547 45.992 24.666 26.127 Naphthenes 8.845 7.581 48.332 46.250 Aromatics 0.307 0.230 5.854 4.965 Unknowns <0.001 <0.001 <0.001 <0.001

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CRUDE OIL ASSAY

KEROSENES

Boiling Range °C 140 - 260 190 - 230

°F 284 - 500 374 - 446

Yield Range vol% 31.8 - 54.4 41.5 - 48.4

wgt% 27.8 - 50.4 37.2 - 44.2

Yield vol% 22.6 6.9

wgt% 22.6 7.0

API Gravity °API 45.7 44.5

Specific Gravity 60/60°F 0.7985 0.8042

Density 15°C g/ml 0.7982 0.8038

Total Sulphur wgt % 0.14 0.16

Sulphur as Mercaptans ppm 690 607

Total Nitrogen mg/l 17 16

Total Acid Number mg KOH/g 0.04 0.11

Viscosity @ -20°C cSt 3.982 5.070

Viscosity @ 20°C cSt 1.760 1.982

Viscosity @ 40°C cSt 1.265 1.433

Aromatics (FIA) vol% 12.6 12.4

Naphthalenes vol% 1.93 1.74

Freezing Point °C -47 -47.5

Smoke Point mm 27 26

Copper Corrosion 2hr @ 100°C 1a 2c

Laboratory Test Report 00-001534-0-ABDN; 1 Page 12 of 15

CRUDE OIL ASSAY

DIESELS

Boiling Range °C 260 - 340 230 - 360

°F 500 - 644 446 - 680

Yield Range vol% 54.4 - 69.3 48.4 - 72.4

wgt% 50.4 - 65.9 44.2 - 69.2

Yield vol% 14.9 24.0

wgt% 15.5 25.0

API Gravity °API 37.2 37.8

Specific Gravity 60/60°F 0.8390 0.8358

Density 15°C g/ml 0.8385 0.8354

Total Sulphur wgt% 0.18 0.17

Sulphur as Mercaptans ppm 476 480

Total Nitrogen mg/l 41 47

Total Acid Number mg KOH/g 0.10 0.08

Viscosity @ 20°C cSt 6.994 6.165

Viscosity @ 40°C cSt 4.091 3.654

Copper Corrosion 2hrs @ 100oC 1a 1a

Calculated Cetane Index 63.7 61.1

Pour Point °C -3 0

Cloud Point °C -1 3

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CRUDE OIL ASSAY

VACUUM GAS OILS

Boiling Range °C 360 - 450 450 - 540

°F 680 - 842 842 - 1004

Yield Range vol% 72.4 - 82.1 82.1 - 92.6

wgt% 69.2 - 79.7 79.7 - 91.2

Yield vol% 9.7 10.5

wgt% 10.5 11.5

API Gravity °API 32.2 28.8

Specific Gravity 60/60°F 0.8644 0.8829

Density 15°C g/ml 0.8639 0.8824

Total Sulphur wgt% 0.24 0.29

Total Nitrogen ppm 172 363

Basic Nitrogen ppm 48 99

Total Acid Number mg KOH/g 0.01 <0.01

Viscosity @ 40°C cSt 16.899 50.787

Viscosity @ 70°C cSt 7.053 16.60

Viscosity @ 100°C cSt 3.802 7.620

Viscosity Index 116 114

Pour Point °C 36 48

UOP K factor 12.4 12.6

Conradson Carbon Residue wgt% <0.01 0.04

Asphaltenes wgt% <0.05 <0.05

Wax Content wgt% 27.1 28.8

Laboratory Test Report 00-001534-0-ABDN; 1 Page 14 of 15

CRUDE OIL ASSAY

RESIDUE

Boiling Range °C 360+ 540+

°F 680+ 1004+

Yield Range vol% 72.4 - 100.0 92.6 - 100.0

wgt% 69.2 - 100.0 91.2 - 100.0

Yield vol% 27.6 7.4

wgt% 30.8 8.8

API Gravity °API 26.8 17.1

Specific Gravity 60/60°F 0.8937 0.9522

Density 15°C g/ml 0.8932 0.9517

Total Sulphur wgt% 0.32 0.42

Total Nitrogen ppm 540 1296

Basic Nitrogen ppm 178 406

Total Acid Number mg KOH/g 0.02 0.15

Viscosity @ 70°C cSt 23.06 393.9

Viscosity @ 100°C cSt 10.59 97.71

Pour Point °C 45 45

Conradson Carbon Residue wgt% 2.88 11.5

Asphaltenes wgt% <0.05 0.05

Wax Content wgt% 20.0 17.3

Nickel ppm 1.1 2.6

Vanadium ppm 0.1 0.3

Copper ppm 0.2 0.5

Sodium ppm 19.0 33.3

Iron ppm 17.9 39.2

Laboratory Test Report 00-001534-0-ABDN; 1 Page 15 of 15

CRUDE OIL ASSAY

TEST METHODS

Asphaltenes IP 143 Basic Nitrogen by Direct Titration CBA 73 Cetane Index IP 380 C1 - C4 Determination IP 344 Cloud Point ASTM D2500 IP 219 Conradson Carbon Residue ASTM D189 IP 13 Copper Strip Corrosion ASTM D130 IP 154 Density by Digital Density Meter ASTM D4052 IP 365 Freezing Point ASTM D2386 IP 16 Hydrocarbon Types by FIA ASTM D1319 IP 156 H2S and RSH in Distillates UOP 163 Kinematic Viscosity ASTM D445 IP 71 Naphthalenes in Avtur ASTM D1840 Paraffin Wax Content UOP 46 Pour Point ASTM D97 IP 15 PIONA Capillary GC Reid Vapour Pressure ASTM D323 IP69 Research Octane Number Calculated Motor Octane Number Calculated Salt Content ASTM D3230 IP265 Sediment by Extraction ASTM D473 IP53 Smoke Point IP 57 Sulphur by XRF IP 336 True Boiling Point Distillation ASTM D2892/ASTM D5236 Total Nitrogen ASTM D4629 Total Acid Number ASTM D664 IP177 UOP K Factor Calculation Water in Crude Oil IP386