CAPEX / OPEX

Activity

2012 BUDGET BP11 F$'000

2012 FEB YTD ACTUAL

Q1 BCC LE

ACTUAL VS. BUDGET

F$'000

F$'000

SPDC JV (Salaries managed centrally) Biseni Samabri NFA AG capex Biseni Samabri Facilities CAPEX -16 AKRI OGUTA IOGD 19 0% 0% 0%

TOTAL CAPEX
Crude Lifting Costs

12,124

3
1,111

12,124

0%
9%

Biseni Samabri Unit Area Operating cost Afuo Ogbainbiri Unit Area Operating cost AG Tariff - Afuo Ogbainbiri AG Tariff - Biseni Samabri OPEX Afuo Ogbainbiri Wells Workover - RIG Comm Ops & NOV -Facs & Logistics Comm Ops & NOV -HR & Servs Mgt

3,622

543

3,622

15%

399 106 148

74 0 0

399 106 148

19% 0% 0%

2,930

2,930

0%

173

-57

173

-33%

16%

Comm Ops & NOV - ICT

0%

TOTAL OPEX
SPDC EXCLUSIVE Egbema West Dump Flood Completn Egbema West NAG Development Egbema West AG Solution Facilities CAPEX Egbema West Operational Capex (Roads/Bridges, Equipment, Vehs.)

19,510

1,672

19,510

9%

1,000 9,000 4,000

1 321

1,000 9,000 4,000

0% 0% 8%

4,000

278

4,000

7%

CAPEX

Biseni Samabri - Cpx Past Cost Adj TP

2,300

2,300

0%

TOTAL CAPEX
Opex Egbema Fields

20,300
7,305

600
374

20,300
7,305

3%
5%

Biseni Samabri - Opx Past Cost Adj TP Arrears on cummulative escalations (AFUO & SAMABRI) Biseni Samabri Work Over Wells Special Projects Economics Support

362

362

0%

1,900

1,900

0%

1,000 681

1,000 681

0% 0%

TOTAL OPEX

11,248

374

11,248

3%

REMARKS

DIE from prior year's accruals.

Biseni-Samabri crude lifting charges. Next lifting is planned for Apr-2012, and will be full cargo with typical lifting cost of F$3.5m. Pro-rate VOWD accruals, in line with UOC Approved budget, for Biseni Samabri Unit Area Operating costs. Pro-rate VOWD accruals for Afuo Ogbainbiri Unit Area Operating costs.

Credit balance results from billing Dec-2011 costs for NPDC field services (Catering & EIA support).

Jan-Feb 2012 VOWD Accruals based on Cashcall Estimates

Jan-Feb 2012 VOWD Accruals based on Cashcall Estimates

Awaiting Operator invoicing following UUOA sign-off in late-2011.

Awaiting Operator invoicing following UUOA sign-off in late-2011.

Awaiting Operator invoicing following UUOA sign-off in late-2011. Activity phased to Q4-2012.