Demerara Block October 2020

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Kanuku

Orinduik

Stabroek

Jethro

Hammerhead

Liza Complex

Demerara

Joe

Carapa

25 miles

Well Results • Orinduik Joe

• 14 meters of oil pay in high-quality oil bearing sandstone reservoirs • Orinduik Jethro

• 55 meters of oil pay in high-quality oil bearing sandstone reservoirs • Stabroek Hammerhead

• 60 meters of high-quality, oil-bearing sandstone reservoir. • Plan of development ongoing

• Kanuku Carapa • 4 meters of oil pay with API of 27 and Sulphur content of less than 1%

The recent success in the area points towards low risk exploration in the Demerara Block Demerara Area Wells • Offset wells to the Demerara Block encountered good

quality sands in both the Tertiary and Cretaceous • Orinduik Jethro and Joe wells and Stabroek

Hammerhead are Tertiary reservoirs. • Kanuku Carapa well is Cretaceous

• Orinduik Discoveries of Jethro-1 and Joe-1 are heavy crudes (10-15 API), with high Sulphur content.

• Demerara Block prospects are modeled to have oil migrating from the Stabroek area source kitchen having low Sulphur light oils

Demerara Area Wells Results Indicate Low Risk Exploration

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Kanuku

Orinduik 25 miles

25 km

Stabroek

Haimara

Jethro

Tilapia

Pluma

Turbot

Longtail

Hammerhead

Liza Complex Demerara

Joe Tripletail Yellowtail Heavy Oils

Light Oils

Light Oil & Gas Condensates

Light Oil Source Kitchen for Demerara Prospects -Separate from Heavy Oil Area

• Orinduik Tertiary Aged Discoveries of Jethro-1 and Joe-1 are heavy crudes, with high Sulphur content.

• Hydrocarbons migrating into the Demerara block come from a distinct Source Kitchen separate from the Orinduik Heavy/High Sulphur oil

• Demerara Block prospects are modeled to have oil migrating from the Stabroek area source kitchen having low Sulphur light oils

Maka Central

Carapa

Sapakara West

Demerara Area: Low Sulphur Light Oils

Kwaskwasi

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F Prospect

Liza Source Rock

CGX Demerara Block

Stabroek

3D Time Data

SW A NE A’

4

A

A’

F

Canje Formation

Cross- Section depicts low Sulphur light oil migrating from the Stabroek Liza area source kitchen directly into the Demerara Block prospects

Demerara: Low Sulphur Light Oil Migration Pathways

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Estimated Joe Well Location A

NW A’ SE

A

A’ Joe

Demerara

Orinduik

Dem

erar

a Orinduik

Joe Discovery appears to extend onto the Demerara Block based on seismic

Joe Discovery on CGX Demerara 3D Depth Seismic Data

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Lead “D” Progradding Onlap

Carbonate Platform/Buildups

Upper K/Jurassic Fluvial/Deltaic

Lead “E” Potential Miocene Deepwater Fan Complex

Flattening Surface

Intersection with Dip Line

Fine-grained, sealing levee facies

Reservoir-prone seismic facies

• 3,100 km² of modern 3D seismic was acquired in 2014 • The seismic revealed a variety of play types as seen in the seismic section below • The diverse prospect inventory provides for multiple independent prospects to be drilled increasing

the chance of finding hydrocarbons

3D Seismic interpretation indicates multiple play types and robust prospectivity

Demerara Block – 3D Seismic Interpretation

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N

Demerara Block Outline

3D Seismic Survey

F

C

D

E

Single Sand Main Amplitude Outline

Single Sand Main Amplitude Outline

Thrust Block 7 Sands Combined Total Area Outline

Canyon Fill 5 Sands Combined Total Area Outline

Demerara Block – Prospects C, D, E & F Outlines

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PROSPECT NAME:

WATER DEPTH:

OBJECTIVE:

TRAP TYPE:

DEPTH OF OBJECTIVE:

HYDROCARBON TYPE:

WELL DEPTH:

Demerara F

1,719 feet (524m)

Albian/Aptian sediment fan

Stratigraphic:

10,190 feet (3,106m)

Oil

11,155 feet (3,400m)

Demerara Block Outline

3D Seismic Survey

F Prospect

25,000m N

Demerara Block – F Prospect

• The F Prospect represents a low risk, high return prospect • Resource size is potentially large • The seismic amplitude map of the prospect is over 30,000 acres in size; it is larger

than any single discovery made to date in the Guyana Suriname Basin • Shallow depth of the well provides a low-cost exploration well with significant

upside

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F Prospect Amplitude

A A’

A A’

EV Attribute Above Background With Structural Contours

C.I. - 100m

25,000m

Full Stack Depth Data

Demerara Block – F Prospect

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