Risk

Geological POS
Mechanical POS
Total POS
Interests
Production (+MC&OE)
OPEX
Capital Expenditures
Abandonment Liability
NRI
OPEX
850
Gas Offset
0.49
Cond Offset
4.20
Nominal
Cost ($M)
0
0
0
0
0
0
0
60
0
0
0
60

Date
Jan 2008
Jan 2008
Jan 2008
Jan 2008
Jan 2008
Jan 2008
Jan 2008
Jan 2008
Jan 2008
Jan 2008
Jan 2008

100%
100%
100%

100%
100%
100%
100%
87%
$/day
$/MCF
$/bbl

Hydrocarbon Recovery
IP Rate
1,000
MCFD
Final Rate
900
MCFD
Yield
0
bbl/mmcf
Reserves
345
MMCF
Producing Life
1.00
years
Decline Rate
10.0%
per year
Prod End Date Oct 2009
<>

Oil
Gas
Cond

Economic Results (10.5% Discount Rate)

EV
Success
Fail
NPV ($M)
690
690
0
CapEx ($M)
59
59
0
DPI
8.51
8.51
N/A
Description

Drilling Tangible
Drilling Intangible
Drilling Tangible (Completion)
Drilling Intangible (Completion)
Workover Tangible
Workover Intangible
G&A Wells
Facilities Tangible
G&A Facility
Incremental Abandonment
Dry Hole Cost

CVX Cost
($M)
0
0
0
0
0
0
0
59
0
0
0

NPV
Impact
0
0
0
0
0
0
0
-43
0
0
0

Disc B/T
Inv ($M)
0
0
0
0
0
0
0
64
0
0
0

Price Decks
Manual Oil
Manual Gas
Manual Cond

Project Name
Install L.P. Comp@ Monte Christo
Product Type
Gas
Discount Date
Nov 2008
Escalation Date
Nov 2008
Initial Production Date
Nov 2008
Reserves (Gross)
Gas (MMCF)
Cond (MBO)
Total (MBOEG)

EV
345
0
58

Production/OPEX NPV Wedge ($M)

Maintenance Capital
0.50
Overhead Expense
0.113
Maint Cap Disc B/T Inv
28

Success
345
0
58
733
$/BOEG
$/BOEG
$M

Full Wedge Info for Promote Analysis ($M)

Production/Opex NPV Wedge
733
Success Capital NPV Wedge
-43
Failure Capital NPV Wedge
0
Success Captial Disc B/T Inv
64
Failure Capital Disc B/T Inv
0
Success Maint Cap Disc B/T Inv
28
Initial Gas Price $/Mcf

Discount Rate

10.5%
Disc:10%

Exponential Decline, Constant Yield, 2% Cost Inflation, 16-2/3% Royalty, 38% Income Tax
CapEx does not include ABN or MC costs. DPI = 1 + NPV / Discounted B/T Inv (excl ABN)

Questions?
(Beta Version!)
JBollinger@chevron.com

POS
0%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
55%
60%
65%
70%
75%
80%
85%
90%
95%
100%
0%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
55%
60%
65%
70%
75%
80%
85%
90%
95%
100%
0%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
55%
60%
65%

Promote Analysis
Economic Summary
Partner Partner
Base
NPV Added Prom NPV Suc Case Fail Case EV Case Suc Case Fail Case
Cap% Prod% NPV (CVX) by Promote Add/Base
NPV
NPV
NPV
DPI
DPI
100%
50%
0
0
#DIV/0!
367
0
0
27.44
#N/A
100%
50%
0
0
#DIV/0!
367
0
0
27.44
#N/A
100%
50%
35
-16
-0.47
367
0
18
27.44
#N/A
100%
50%
69
-32
-0.47
367
0
37
27.44
#N/A
100%
50%
104
-49
-0.47
367
0
55
27.44
#N/A
100%
50%
138
-65
-0.47
367
0
73
27.44
#N/A
100%
50%
173
-81
-0.47
367
0
92
27.44
#N/A
100%
50%
207
-97
-0.47
367
0
110
27.44
#N/A
100%
50%
242
-113
-0.47
367
0
128
27.44
#N/A
100%
50%
276
-129
-0.47
367
0
147
27.44
#N/A
100%
50%
311
-146
-0.47
367
0
165
27.44
#N/A
100%
50%
345
-162
-0.47
367
0
183
27.44
#N/A
100%
50%
380
-178
-0.47
367
0
202
27.44
#N/A
100%
50%
414
-194
-0.47
367
0
220
27.44
#N/A
100%
50%
449
-210
-0.47
367
0
238
27.44
#N/A
100%
50%
483
-227
-0.47
367
0
257
27.44
#N/A
100%
50%
518
-243
-0.47
367
0
275
27.44
#N/A
100%
50%
552
-259
-0.47
367
0
293
27.44
#N/A
100%
50%
587
-275
-0.47
367
0
312
27.44
#N/A
100%
50%
621
-291
-0.47
367
0
330
27.44
#N/A
100%
50%
656
-307
-0.47
367
0
348
27.44
#N/A
100%
50%
690
-324
-0.47
367
0
367
27.44
#N/A
80%
40%
0
0
#DIV/0!
431
0
0
15.64
#DIV/0!
80%
40%
0
0
#DIV/0!
431
0
0
15.64
#DIV/0!
80%
40%
35
-13
-0.38
431
0
22
15.64
#DIV/0!
80%
40%
69
-26
-0.38
431
0
43
15.64
#DIV/0!
80%
40%
104
-39
-0.38
431
0
65
15.64
#DIV/0!
80%
40%
138
-52
-0.38
431
0
86
15.64
#DIV/0!
80%
40%
173
-65
-0.38
431
0
108
15.64
#DIV/0!
80%
40%
207
-78
-0.38
431
0
129
15.64
#DIV/0!
80%
40%
242
-91
-0.38
431
0
151
15.64
#DIV/0!
80%
40%
276
-104
-0.38
431
0
173
15.64
#DIV/0!
80%
40%
311
-117
-0.38
431
0
194
15.64
#DIV/0!
80%
40%
345
-129
-0.38
431
0
216
15.64
#DIV/0!
80%
40%
380
-142
-0.38
431
0
237
15.64
#DIV/0!
80%
40%
414
-155
-0.38
431
0
259
15.64
#DIV/0!
80%
40%
449
-168
-0.38
431
0
280
15.64
#DIV/0!
80%
40%
483
-181
-0.38
431
0
302
15.64
#DIV/0!
80%
40%
518
-194
-0.38
431
0
324
15.64
#DIV/0!
80%
40%
552
-207
-0.38
431
0
345
15.64
#DIV/0!
80%
40%
587
-220
-0.38
431
0
367
15.64
#DIV/0!
80%
40%
621
-233
-0.38
431
0
388
15.64
#DIV/0!
80%
40%
656
-246
-0.38
431
0
410
15.64
#DIV/0!
80%
40%
690
-259
-0.38
431
0
431
15.64
#DIV/0!
90%
60%
0
0
#DIV/0!
289
0
0
17.51
#DIV/0!
90%
60%
0
0
#DIV/0!
289
0
0
17.51
#DIV/0!
90%
60%
35
-20
-0.58
289
0
14
17.51
#DIV/0!
90%
60%
69
-40
-0.58
289
0
29
17.51
#DIV/0!
90%
60%
104
-60
-0.58
289
0
43
17.51
#DIV/0!
90%
60%
138
-80
-0.58
289
0
58
17.51
#DIV/0!
90%
60%
173
-100
-0.58
289
0
72
17.51
#DIV/0!
90%
60%
207
-120
-0.58
289
0
87
17.51
#DIV/0!
90%
60%
242
-140
-0.58
289
0
101
17.51
#DIV/0!
90%
60%
276
-161
-0.58
289
0
116
17.51
#DIV/0!
90%
60%
311
-181
-0.58
289
0
130
17.51
#DIV/0!
90%
60%
345
-201
-0.58
289
0
145
17.51
#DIV/0!
90%
60%
380
-221
-0.58
289
0
159
17.51
#DIV/0!
90%
60%
414
-241
-0.58
289
0
173
17.51
#DIV/0!
90%
60%
449
-261
-0.58
289
0
188
17.51
#DIV/0!

Background Calculations
Background Calculations
EV Case Prod/Opex Suc Cap Fail Cap EV Cap Suc Disc Fail Disc EV Disc Crossover POS at Minimum
Series
DPI
NPV (Suc)
NPV
NPV
NPV
BT Inv
BT Inv
BT Inv
POS
NPVd=1 Terms (x:1)
Title
#DIV/0!
367
0
0
0
14
0
0
0%
0%
#N/A
100 for 50
#DIV/0!
367
0
0
0
14
0
0
0%
0%
#N/A
100 for 50
27.44
367
0
0
0
14
0
1
0%
0%
17.01
100 for 50
27.44
367
0
0
0
14
0
1
0%
0%
17.01
100 for 50
27.44
367
0
0
0
14
0
2
0%
0%
17.01
100 for 50
27.44
367
0
0
0
14
0
3
0%
0%
17.01
100 for 50
27.44
367
0
0
0
14
0
3
0%
0%
17.01
100 for 50
27.44
367
0
0
0
14
0
4
0%
0%
17.01
100 for 50
27.44
367
0
0
0
14
0
5
0%
0%
17.01
100 for 50
27.44
367
0
0
0
14
0
6
0%
0%
17.01
100 for 50
27.44
367
0
0
0
14
0
6
0%
0%
17.01
100 for 50
27.44
367
0
0
0
14
0
7
0%
0%
17.01
100 for 50
27.44
367
0
0
0
14
0
8
0%
0%
17.01
100 for 50
27.44
367
0
0
0
14
0
8
0%
0%
17.01
100 for 50
27.44
367
0
0
0
14
0
9
0%
0%
17.01
100 for 50
27.44
367
0
0
0
14
0
10
0%
0%
17.01
100 for 50
27.44
367
0
0
0
14
0
10
0%
0%
17.01
100 for 50
27.44
367
0
0
0
14
0
11
0%
0%
17.01
100 for 50
27.44
367
0
0
0
14
0
12
0%
0%
17.01
100 for 50
27.44
367
0
0
0
14
0
12
0%
0%
17.01
100 for 50
27.44
367
0
0
0
14
0
13
0%
0%
17.01
100 for 50
27.44
367
0
0
0
14
0
14
0%
0%
17.01
100 for 50
#DIV/0!
440
-9
0
0
29
0
0
0%
0%
#N/A
80 for 40
#DIV/0!
440
-9
0
0
29
0
0
0%
0%
#N/A
80 for 40
15.64
440
-9
0
0
29
0
1
0%
0%
17.01
80 for 40
15.64
440
-9
0
-1
29
0
3
0%
0%
17.01
80 for 40
15.64
440
-9
0
-1
29
0
4
0%
0%
17.01
80 for 40
15.64
440
-9
0
-2
29
0
6
0%
0%
17.01
80 for 40
15.64
440
-9
0
-2
29
0
7
0%
0%
17.01
80 for 40
15.64
440
-9
0
-3
29
0
9
0%
0%
17.01
80 for 40
15.64
440
-9
0
-3
29
0
10
0%
0%
17.01
80 for 40
15.64
440
-9
0
-3
29
0
12
0%
0%
17.01
80 for 40
15.64
440
-9
0
-4
29
0
13
0%
0%
17.01
80 for 40
15.64
440
-9
0
-4
29
0
15
0%
0%
17.01
80 for 40
15.64
440
-9
0
-5
29
0
16
0%
0%
17.01
80 for 40
15.64
440
-9
0
-5
29
0
18
0%
0%
17.01
80 for 40
15.64
440
-9
0
-6
29
0
19
0%
0%
17.01
80 for 40
15.64
440
-9
0
-6
29
0
21
0%
0%
17.01
80 for 40
15.64
440
-9
0
-6
29
0
22
0%
0%
17.01
80 for 40
15.64
440
-9
0
-7
29
0
24
0%
0%
17.01
80 for 40
15.64
440
-9
0
-7
29
0
25
0%
0%
17.01
80 for 40
15.64
440
-9
0
-8
29
0
27
0%
0%
17.01
80 for 40
15.64
440
-9
0
-8
29
0
28
0%
0%
17.01
80 for 40
15.64
440
-9
0
-9
29
0
29
0%
0%
17.01
80 for 40
#DIV/0!
293
-4
0
0
18
0
0
0%
0%
#N/A
90 for 60
#DIV/0!
293
-4
0
0
18
0
0
0%
0%
#N/A
90 for 60
17.51
293
-4
0
0
18
0
1
0%
0%
17.01
90 for 60
17.51
293
-4
0
0
18
0
2
0%
0%
17.01
90 for 60
17.51
293
-4
0
-1
18
0
3
0%
0%
17.01
90 for 60
17.51
293
-4
0
-1
18
0
4
0%
0%
17.01
90 for 60
17.51
293
-4
0
-1
18
0
4
0%
0%
17.01
90 for 60
17.51
293
-4
0
-1
18
0
5
0%
0%
17.01
90 for 60
17.51
293
-4
0
-2
18
0
6
0%
0%
17.01
90 for 60
17.51
293
-4
0
-2
18
0
7
0%
0%
17.01
90 for 60
17.51
293
-4
0
-2
18
0
8
0%
0%
17.01
90 for 60
17.51
293
-4
0
-2
18
0
9
0%
0%
17.01
90 for 60
17.51
293
-4
0
-2
18
0
10
0%
0%
17.01
90 for 60
17.51
293
-4
0
-3
18
0
11
0%
0%
17.01
90 for 60
17.51
293
-4
0
-3
18
0
11
0%
0%
17.01
90 for 60

Page 2 of 31

POS
70%
75%
80%
85%
90%
95%
100%
0%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
55%
60%
65%
70%
75%
80%
85%
90%
95%
100%
0%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
55%
60%
65%
70%
75%
80%
85%
90%
95%
100%
0%
5%
10%
15%
20%
25%
30%
35%

Promote Analysis
Economic Summary
Partner Partner
Base
NPV Added Prom NPV Suc Case Fail Case EV Case Suc Case Fail Case
Cap% Prod% NPV (CVX) by Promote Add/Base
NPV
NPV
NPV
DPI
DPI
90%
60%
483
-281
-0.58
289
0
202
17.51
#DIV/0!
90%
60%
518
-301
-0.58
289
0
217
17.51
#DIV/0!
90%
60%
552
-321
-0.58
289
0
231
17.51
#DIV/0!
90%
60%
587
-341
-0.58
289
0
246
17.51
#DIV/0!
90%
60%
621
-361
-0.58
289
0
260
17.51
#DIV/0!
90%
60%
656
-381
-0.58
289
0
275
17.51
#DIV/0!
90%
60%
690
-401
-0.58
289
0
289
17.51
#DIV/0!
60%
40%
0
0
#DIV/0!
423
0
0
11.00
#DIV/0!
60%
40%
0
0
#DIV/0!
423
0
0
11.00
#DIV/0!
60%
40%
35
-13
-0.39
423
0
21
11.00
#DIV/0!
60%
40%
69
-27
-0.39
423
0
42
11.00
#DIV/0!
60%
40%
104
-40
-0.39
423
0
63
11.00
#DIV/0!
60%
40%
138
-54
-0.39
423
0
85
11.00
#DIV/0!
60%
40%
173
-67
-0.39
423
0
106
11.00
#DIV/0!
60%
40%
207
-80
-0.39
423
0
127
11.00
#DIV/0!
60%
40%
242
-94
-0.39
423
0
148
11.00
#DIV/0!
60%
40%
276
-107
-0.39
423
0
169
11.00
#DIV/0!
60%
40%
311
-120
-0.39
423
0
190
11.00
#DIV/0!
60%
40%
345
-134
-0.39
423
0
211
11.00
#DIV/0!
60%
40%
380
-147
-0.39
423
0
233
11.00
#DIV/0!
60%
40%
414
-161
-0.39
423
0
254
11.00
#DIV/0!
60%
40%
449
-174
-0.39
423
0
275
11.00
#DIV/0!
60%
40%
483
-187
-0.39
423
0
296
11.00
#DIV/0!
60%
40%
518
-201
-0.39
423
0
317
11.00
#DIV/0!
60%
40%
552
-214
-0.39
423
0
338
11.00
#DIV/0!
60%
40%
587
-227
-0.39
423
0
359
11.00
#DIV/0!
60%
40%
621
-241
-0.39
423
0
381
11.00
#DIV/0!
60%
40%
656
-254
-0.39
423
0
402
11.00
#DIV/0!
60%
40%
690
-268
-0.39
423
0
423
11.00
#DIV/0!
90%
30%
0
0
#DIV/0!
509
0
0
20.71
#DIV/0!
90%
30%
0
0
#DIV/0!
509
0
0
20.71
#DIV/0!
90%
30%
35
-9
-0.26
509
0
25
20.71
#DIV/0!
90%
30%
69
-18
-0.26
509
0
51
20.71
#DIV/0!
90%
30%
104
-27
-0.26
509
0
76
20.71
#DIV/0!
90%
30%
138
-36
-0.26
509
0
102
20.71
#DIV/0!
90%
30%
173
-45
-0.26
509
0
127
20.71
#DIV/0!
90%
30%
207
-54
-0.26
509
0
153
20.71
#DIV/0!
90%
30%
242
-63
-0.26
509
0
178
20.71
#DIV/0!
90%
30%
276
-72
-0.26
509
0
204
20.71
#DIV/0!
90%
30%
311
-82
-0.26
509
0
229
20.71
#DIV/0!
90%
30%
345
-91
-0.26
509
0
255
20.71
#DIV/0!
90%
30%
380
-100
-0.26
509
0
280
20.71
#DIV/0!
90%
30%
414
-109
-0.26
509
0
305
20.71
#DIV/0!
90%
30%
449
-118
-0.26
509
0
331
20.71
#DIV/0!
90%
30%
483
-127
-0.26
509
0
356
20.71
#DIV/0!
90%
30%
518
-136
-0.26
509
0
382
20.71
#DIV/0!
90%
30%
552
-145
-0.26
509
0
407
20.71
#DIV/0!
90%
30%
587
-154
-0.26
509
0
433
20.71
#DIV/0!
90%
30%
621
-163
-0.26
509
0
458
20.71
#DIV/0!
90%
30%
656
-172
-0.26
509
0
484
20.71
#DIV/0!
90%
30%
690
-181
-0.26
509
0
509
20.71
#DIV/0!
0%
0%
0
0
#DIV/0!
690
0
0
8.51
#DIV/0!
0%
0%
35
0
0.00
690
0
35
8.51
#DIV/0!
0%
0%
69
0
0.00
690
0
69
8.51
#DIV/0!
0%
0%
104
0
0.00
690
0
104
8.51
#DIV/0!
0%
0%
138
0
0.00
690
0
138
8.51
#DIV/0!
0%
0%
173
0
0.00
690
0
173
8.51
#DIV/0!
0%
0%
207
0
0.00
690
0
207
8.51
#DIV/0!
0%
0%
242
0
0.00
690
0
242
8.51
#DIV/0!

Background Calculations
Background Calculations
EV Case Prod/Opex Suc Cap Fail Cap EV Cap Suc Disc Fail Disc EV Disc Crossover POS at Minimum
Series
DPI
NPV (Suc)
NPV
NPV
NPV
BT Inv
BT Inv
BT Inv
POS
NPVd=1 Terms (x:1)
Title
17.51
293
-4
0
-3
18
0
12
0%
0%
17.01
90 for 60
17.51
293
-4
0
-3
18
0
13
0%
0%
17.01
90 for 60
17.51
293
-4
0
-3
18
0
14
0%
0%
17.01
90 for 60
17.51
293
-4
0
-4
18
0
15
0%
0%
17.01
90 for 60
17.51
293
-4
0
-4
18
0
16
0%
0%
17.01
90 for 60
17.51
293
-4
0
-4
18
0
17
0%
0%
17.01
90 for 60
17.51
293
-4
0
-4
18
0
18
0%
0%
17.01
90 for 60
#DIV/0!
440
-17
0
0
42
0
0
0%
0%
#N/A
60 for 40
#DIV/0!
440
-17
0
0
42
0
0
0%
0%
#N/A
60 for 40
11.00
440
-17
0
-1
42
0
2
0%
0%
17.01
60 for 40
11.00
440
-17
0
-2
42
0
4
0%
0%
17.01
60 for 40
11.00
440
-17
0
-3
42
0
6
0%
0%
17.01
60 for 40
11.00
440
-17
0
-3
42
0
8
0%
0%
17.01
60 for 40
11.00
440
-17
0
-4
42
0
11
0%
0%
17.01
60 for 40
11.00
440
-17
0
-5
42
0
13
0%
0%
17.01
60 for 40
11.00
440
-17
0
-6
42
0
15
0%
0%
17.01
60 for 40
11.00
440
-17
0
-7
42
0
17
0%
0%
17.01
60 for 40
11.00
440
-17
0
-8
42
0
19
0%
0%
17.01
60 for 40
11.00
440
-17
0
-9
42
0
21
0%
0%
17.01
60 for 40
11.00
440
-17
0
-9
42
0
23
0%
0%
17.01
60 for 40
11.00
440
-17
0
-10
42
0
25
0%
0%
17.01
60 for 40
11.00
440
-17
0
-11
42
0
27
0%
0%
17.01
60 for 40
11.00
440
-17
0
-12
42
0
30
0%
0%
17.01
60 for 40
11.00
440
-17
0
-13
42
0
32
0%
0%
17.01
60 for 40
11.00
440
-17
0
-14
42
0
34
0%
0%
17.01
60 for 40
11.00
440
-17
0
-15
42
0
36
0%
0%
17.01
60 for 40
11.00
440
-17
0
-16
42
0
38
0%
0%
17.01
60 for 40
11.00
440
-17
0
-16
42
0
40
0%
0%
17.01
60 for 40
11.00
440
-17
0
-17
42
0
42
0%
0%
17.01
60 for 40
#DIV/0!
513
-4
0
0
26
0
0
0%
0%
#N/A
90 for 30
#DIV/0!
513
-4
0
0
26
0
0
0%
0%
#N/A
90 for 30
20.71
513
-4
0
0
26
0
1
0%
0%
17.01
90 for 30
20.71
513
-4
0
0
26
0
3
0%
0%
17.01
90 for 30
20.71
513
-4
0
-1
26
0
4
0%
0%
17.01
90 for 30
20.71
513
-4
0
-1
26
0
5
0%
0%
17.01
90 for 30
20.71
513
-4
0
-1
26
0
6
0%
0%
17.01
90 for 30
20.71
513
-4
0
-1
26
0
8
0%
0%
17.01
90 for 30
20.71
513
-4
0
-2
26
0
9
0%
0%
17.01
90 for 30
20.71
513
-4
0
-2
26
0
10
0%
0%
17.01
90 for 30
20.71
513
-4
0
-2
26
0
12
0%
0%
17.01
90 for 30
20.71
513
-4
0
-2
26
0
13
0%
0%
17.01
90 for 30
20.71
513
-4
0
-2
26
0
14
0%
0%
17.01
90 for 30
20.71
513
-4
0
-3
26
0
15
0%
0%
17.01
90 for 30
20.71
513
-4
0
-3
26
0
17
0%
0%
17.01
90 for 30
20.71
513
-4
0
-3
26
0
18
0%
0%
17.01
90 for 30
20.71
513
-4
0
-3
26
0
19
0%
0%
17.01
90 for 30
20.71
513
-4
0
-3
26
0
21
0%
0%
17.01
90 for 30
20.71
513
-4
0
-4
26
0
22
0%
0%
17.01
90 for 30
20.71
513
-4
0
-4
26
0
23
0%
0%
17.01
90 for 30
20.71
513
-4
0
-4
26
0
25
0%
0%
17.01
90 for 30
20.71
513
-4
0
-4
26
0
26
0%
0%
17.01
90 for 30
#DIV/0!
733
-43
0
0
92
0
0
#DIV/0!
0%
#N/A
100% CVX
8.51
733
-43
0
-2
92
0
5
#DIV/0!
0%
17.01
100% CVX
8.51
733
-43
0
-4
92
0
9
#DIV/0!
0%
17.01
100% CVX
8.51
733
-43
0
-6
92
0
14
#DIV/0!
0%
17.01
100% CVX
8.51
733
-43
0
-9
92
0
18
#DIV/0!
0%
17.01
100% CVX
8.51
733
-43
0
-11
92
0
23
#DIV/0!
0%
17.01
100% CVX
8.51
733
-43
0
-13
92
0
28
#DIV/0!
0%
17.01
100% CVX
8.51
733
-43
0
-15
92
0
32
#DIV/0!
0%
17.01
100% CVX

Page 3 of 31

POS
40%
45%
50%
55%
60%
65%
70%
75%
80%
85%
90%
95%
100%

Promote Analysis
Economic Summary
Background Calculations
Background Calculations
Partner Partner
Base
NPV Added Prom NPV Suc Case Fail Case EV Case Suc Case Fail Case EV Case Prod/Opex Suc Cap Fail Cap EV Cap Suc Disc Fail Disc EV Disc Crossover POS at Minimum
Series
Cap% Prod% NPV (CVX) by Promote Add/Base
NPV
NPV
NPV
DPI
DPI
DPI
NPV (Suc)
NPV
NPV
NPV
BT Inv
BT Inv
BT Inv
POS
NPVd=1 Terms (x:1)
Title
0%
0%
276
0
0.00
690
0
276
8.51
#DIV/0!
8.51
733
-43
0
-17
92
0
37
#DIV/0!
0%
17.01
100% CVX
0%
0%
311
0
0.00
690
0
311
8.51
#DIV/0!
8.51
733
-43
0
-19
92
0
41
#DIV/0!
0%
17.01
100% CVX
0%
0%
345
0
0.00
690
0
345
8.51
#DIV/0!
8.51
733
-43
0
-22
92
0
46
#DIV/0!
0%
17.01
100% CVX
0%
0%
380
0
0.00
690
0
380
8.51
#DIV/0!
8.51
733
-43
0
-24
92
0
51
#DIV/0!
0%
17.01
100% CVX
0%
0%
414
0
0.00
690
0
414
8.51
#DIV/0!
8.51
733
-43
0
-26
92
0
55
#DIV/0!
0%
17.01
100% CVX
0%
0%
449
0
0.00
690
0
449
8.51
#DIV/0!
8.51
733
-43
0
-28
92
0
60
#DIV/0!
0%
17.01
100% CVX
0%
0%
483
0
0.00
690
0
483
8.51
#DIV/0!
8.51
733
-43
0
-30
92
0
64
#DIV/0!
0%
17.01
100% CVX
0%
0%
518
0
0.00
690
0
518
8.51
#DIV/0!
8.51
733
-43
0
-32
92
0
69
#DIV/0!
0%
17.01
100% CVX
0%
0%
552
0
0.00
690
0
552
8.51
#DIV/0!
8.51
733
-43
0
-34
92
0
74
#DIV/0!
0%
17.01
100% CVX
0%
0%
587
0
0.00
690
0
587
8.51
#DIV/0!
8.51
733
-43
0
-37
92
0
78
#DIV/0!
0%
17.01
100% CVX
0%
0%
621
0
0.00
690
0
621
8.51
#DIV/0!
8.51
733
-43
0
-39
92
0
83
#DIV/0!
0%
17.01
100% CVX
0%
0%
656
0
0.00
690
0
656
8.51
#DIV/0!
8.51
733
-43
0
-41
92
0
87
#DIV/0!
0%
17.01
100% CVX
0%
0%
690
0
0.00
690
0
690
8.51
#DIV/0!
8.51
733
-43
0
-43
92
0
92
#DIV/0!
0%
17.01
100% CVX

Page 4 of 31

Minimum Promotion Terms to Enhance NPV

Install L.P. Comp@ Monte Christo
5 to 1

Value Creation

Promotion Terms

4 to 1

3 to 1

2 to 1

Value Destruction
1 to 1
0%

10%

20%

30%

40%

50%

POS (%)

60%

70%

80%

90%

100%

NPV Comparison between Promotions and 100% CVX

Install L.P. Comp@ Monte Christo
800

700

600

500
100% CVX

NPV
($M)

100 for 50

400

80 for 40
90 for 60

300

60 for 40
90 for 30

200

100

0
0%

10%

20%

30%

40%

50%

-100

POS (%)

60%

70%

80%

90%

100%

NPV Added by a Promotion (versus 100% CVX)

Install L.P. Comp@ Monte Christo
50

0
0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

-50

-100

-150

100 for 50

DNPV
-200
($M)

80 for 40
90 for 60
60 for 40
90 for 30

-250

-300

-350

-400

-450

POS (%)

NPV% Added by a Promotion (versus 100% CVX)

Install L.P. Comp@ Monte Christo
100%

80%

60%

40%

20%

DNPV
NPV

100 for 50
80 for 40

0%

90 for 60

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

60 for 40
90 for 30

-20%

-40%

-60%

-80%

-100%

POS (%)

Oil
Gas
Cond
Year
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
2036
2037
2038
2039
2040
2041
2042
2043
2044
2045
2046
2047
2048
2049
2050
2051

Manual Oil
Manual Gas
Manual Cond
Oil ($/bbl)
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00

Gas ($/MCF) Cond ($/bbl)

6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00

User-Entered Price Deck

Manual Oila Manual Oil Manual Gas
Year
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
2036
2037
2038
2039
2040
2041
2042
2043
2044
2045
2046
2047
2048
2049
2050
2051

Oil ($/bbl) Gas ($/MCF)

60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00
60.00
6.00

2052
2053
2054

Deck#
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15

60.00
60.00
60.00

6.00
6.00
6.00

60.00
60.00
60.00

2052
2053
2054

List of Price Decks

Oil
Gas
Condensate
Manual Oil Manual Gas
Manual Cond
WTI 2006.SPlan
Henry Hub 2006.SPlan
WTI - Cond 2006.SPlan
WTI 2006.SPlan
Henry
High
Hub 2006.SPlan
WTI - Cond
High2006.SPlan High
WTI 2006.SPlan
Henry
Low
Hub 2006.SPlan
WTI - Cond
Low 2006.SPlan Low
WTI $55/STBHenry
Flat Hub $8/MCF
WTI Flat
- Cond $55/STB Flat
WTI 2006-08.Bplan
Henry Hub 2006-08.Bplan
WTI - Cond 2006-08.Bplan
WTI 2005-07Mod.MidTrend
Henry Hub 2005-07Mod.MidTrend
WTI - Cond 2005-07Mod.MidTrend
WTI 2005 - 2007
Henry
BPlan
Hub 2005WTI
- 2007
- Cond
BPlan
2005 - 2007 BPlan
WTI 2003 Long
Henry
Range
HubPlan
2003WTI
Long
- Cond
Range
2003
PlanLong Range Plan
WTI 2002-JanHenry Hub 2002-2004
WTI - Cond
Bplan2002-Jan
Deck 11 Oil Deck 11 Gas Deck 11 Cond
Deck 12 Oil Deck 12 Gas Deck 12 Cond
Deck 13 Oil Deck 13 Gas Deck 13 Cond
Deck 14 Oil Deck 14 Gas Deck 14 Cond
Deck 15 Oil Deck 15 Gas Deck 15 Cond

60.00
60.00
60.00

6.00
6.00
6.00

Entered Price Deck

Manual Cond
Cond ($/bbl)
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00
60.00

WTI 2006.SPlana
WTI 2006.SPlan
Year
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
2036
2037
2038
2039
2040
2041
2042
2043
2044
2045
2046
2047
2048
2049
2050
2051
2052

Henry Hub 2006.SPlan WTI - Cond 2006.SPlan

Oil ($/bbl) Gas ($/MCF) Cond ($/bbl)

55.00
8.00
55.00
55.00
8.00
55.00
55.00
8.00
55.00
55.00
8.00
55.00
55.00
7.31
55.00
55.20
6.62
55.20
56.30
6.76
56.30
57.40
6.89
57.40
58.60
7.03
58.60
59.80
7.17
59.80
60.90
7.31
60.90
62.20
7.46
62.20
63.40
7.61
63.40
64.70
7.76
64.70
66.00
7.92
66.00
67.30
8.08
67.30
68.60
8.24
68.60
70.00
8.40
70.00
71.40
8.57
71.40
72.80
8.74
72.80
74.30
8.92
74.30
75.80
9.09
75.80
77.30
9.28
77.30
78.80
9.46
78.80
80.40
9.65
80.40
80.40
9.65
80.40
80.40
9.65
80.40
80.40
9.65
80.40
80.40
9.65
80.40
80.40
9.65
80.40
80.40
9.65
80.40
80.40
9.65
80.40
80.40
9.65
80.40
80.40
9.65
80.40
80.40
9.65
80.40
80.40
9.65
80.40
80.40
9.65
80.40
80.40
9.65
80.40
80.40
9.65
80.40
80.40
9.65
80.40
80.40
9.65
80.40
80.40
9.65
80.40
80.40
9.65
80.40
80.40
9.65
80.40
80.40
9.65
80.40
80.40
9.65
80.40
80.40
9.65
80.40

WTI 2006.SPlan Higha

Year
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
2036
2037
2038
2039
2040
2041
2042
2043
2044
2045
2046
2047
2048
2049
2050
2051
2052

60.00
60.00
60.00

2053
2054
2055

80.40
80.40
80.40

9.65
9.65
9.65

80.40
80.40
80.40

2053
2054
2055

WTI 2006.SPlan High Henry Hub 2006.SPlan High WTI - Cond 2006.SPlan High

Oil ($/bbl) Gas ($/MCF) Cond ($/bbl)

75.00
10.00
75.00
79.10
10.00
79.10
79.60
10.00
79.60
80.10
10.00
80.10
81.20
9.47
81.20
82.80
8.83
82.80
84.50
9.01
84.50
86.20
9.19
86.20
87.90
9.37
87.90
89.60
9.56
89.60
91.40
9.75
91.40
93.30
9.95
93.30
95.10
10.15
95.10
97.00
10.35
97.00
99.00
10.56
99.00
100.90
10.77
100.90
103.00
10.98
103.00
105.00
11.20
105.00
107.10
11.43
107.10
109.30
11.65
109.30
111.40
11.89
111.40
113.70
12.13
113.70
115.90
12.37
115.90
118.30
12.62
118.30
120.60
12.87
120.60
120.60
12.87
120.60
120.60
12.87
120.60
120.60
12.87
120.60
120.60
12.87
120.60
120.60
12.87
120.60
120.60
12.87
120.60
120.60
12.87
120.60
120.60
12.87
120.60
120.60
12.87
120.60
120.60
12.87
120.60
120.60
12.87
120.60
120.60
12.87
120.60
120.60
12.87
120.60
120.60
12.87
120.60
120.60
12.87
120.60
120.60
12.87
120.60
120.60
12.87
120.60
120.60
12.87
120.60
120.60
12.87
120.60
120.60
12.87
120.60
120.60
12.87
120.60
120.60
12.87
120.60

WTI 2006.SPlan Lowa

WTI 2006.SPlan Low
Year
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
2036
2037
2038
2039
2040
2041
2042
2043
2044
2045
2046
2047
2048
2049
2050
2051
2052

Henry Hub 2006.SPlan Low WTI - Cond 2006.SPlan Low

Oil ($/bbl) Gas ($/MCF) Cond ($/bbl)

35.00
6.00
35.00
38.30
6.00
38.30
38.00
6.00
38.00
37.70
6.00
37.70
37.90
5.41
37.90
38.60
5.52
38.60
39.40
5.63
39.40
40.20
5.74
40.20
41.00
5.86
41.00
41.80
5.98
41.80
42.70
6.09
42.70
43.50
6.22
43.50
44.40
6.34
44.40
45.30
6.47
45.30
46.20
6.60
46.20
47.10
6.73
47.10
48.05
6.86
48.05
49.00
7.00
49.00
50.00
7.14
50.00
51.00
7.28
51.00
52.00
7.43
52.00
53.05
7.58
53.05
54.10
7.73
54.10
55.20
7.88
55.20
56.30
8.04
56.30
56.30
8.04
56.30
56.30
8.04
56.30
56.30
8.04
56.30
56.30
8.04
56.30
56.30
8.04
56.30
56.30
8.04
56.30
56.30
8.04
56.30
56.30
8.04
56.30
56.30
8.04
56.30
56.30
8.04
56.30
56.30
8.04
56.30
56.30
8.04
56.30
56.30
8.04
56.30
56.30
8.04
56.30
56.30
8.04
56.30
56.30
8.04
56.30
56.30
8.04
56.30
56.30
8.04
56.30
56.30
8.04
56.30
56.30
8.04
56.30
56.30
8.04
56.30
56.30
8.04
56.30

120.60
120.60
120.60

12.87
12.87
12.87

120.60
120.60
120.60

2053
2054
2055

56.30
56.30
56.30

8.04
8.04
8.04

56.30
56.30
56.30

WTI $55/STB Flata

WTI $55/STB Flat
Year
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
2036
2037
2038
2039
2040
2041
2042
2043
2044
2045
2046
2047
2048
2049
2050
2051

Henry Hub $8/MCF Flat WTI - Cond $55/STB Flat

Oil ($/bbl) Gas ($/MCF) Cond ($/bbl)

55.00
8.00
55.00
55.00
8.00
55.00
55.00
8.00
55.00
55.00
8.00
55.00
55.00
8.00
55.00
55.00
8.00
55.00
55.00
8.00
55.00
55.00
8.00
55.00
55.00
8.00
55.00
55.00
8.00
55.00
55.00
8.00
55.00
55.00
8.00
55.00
55.00
8.00
55.00
55.00
8.00
55.00
55.00
8.00
55.00
55.00
8.00
55.00
55.00
8.00
55.00
55.00
8.00
55.00
55.00
8.00
55.00
55.00
8.00
55.00
55.00
8.00
55.00
55.00
8.00
55.00
55.00
8.00
55.00
55.00
8.00
55.00
55.00
8.00
55.00
55.00
8.00
55.00
55.00
8.00
55.00
55.00
8.00
55.00
55.00
8.00
55.00
55.00
8.00
55.00
55.00
8.00
55.00
55.00
8.00
55.00
55.00
8.00
55.00
55.00
8.00
55.00
55.00
8.00
55.00
55.00
8.00
55.00
55.00
8.00
55.00
55.00
8.00
55.00
55.00
8.00
55.00
55.00
8.00
55.00
55.00
8.00
55.00
55.00
8.00
55.00
55.00
8.00
55.00
55.00
8.00
55.00
55.00
8.00
55.00
55.00
8.00
55.00
55.00
8.00
55.00

WTI 2006-08.Bplana
WTI 2006-08.Bplan
Year
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
2036
2037
2038
2039
2040
2041
2042
2043
2044
2045
2046
2047
2048
2049
2050
2051

Oil ($/bbl)
50.00
44.00
40.00
37.00
37.90
38.60
39.40
40.20
41.00
41.80
42.70
43.50
44.40
45.30
46.20
47.10
48.00
49.00
50.00
51.00
52.00
53.00
54.10
55.20
56.30
57.40
58.60
59.70
60.90
62.20
63.40
64.70
66.00
67.30
68.60
68.60
68.60
68.60
68.60
68.60
68.60
68.60
68.60
68.60
68.60
68.60
68.60

2052
2053
2054

55.00
55.00
55.00

8.00
8.00
8.00

55.00
55.00
55.00

2052
2053
2054

68.60
68.60
68.60

Henry Hub 2006-08.Bplan WTI - Cond 2006-08.Bplan

WTI 2005-07Mod.MidTrenda

Gas ($/MCF) Cond ($/bbl)

6.50
50.00
6.75
44.00
6.00
40.00
5.50
37.00
5.40
37.90
5.50
38.60
5.65
39.40
5.75
40.20
5.85
41.00
6.00
41.80
6.10
42.70
6.20
43.50
6.35
44.40
6.45
45.30
6.60
46.20
6.75
47.10
6.85
48.00
7.00
49.00
7.15
50.00
7.30
51.00
7.45
52.00
7.60
53.00
7.70
54.10
7.90
55.20
8.00
56.30
8.20
57.40
8.40
58.60
8.50
59.70
8.70
60.90
8.90
62.20
9.10
63.40
9.20
64.70
9.40
66.00
9.60
67.30
9.80
68.60
9.80
68.60
9.80
68.60
9.80
68.60
9.80
68.60
9.80
68.60
9.80
68.60
9.80
68.60
9.80
68.60
9.80
68.60
9.80
68.60
9.80
68.60
9.80
68.60

Year
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
2036
2037
2038
2039
2040
2041
2042
2043
2044
2045
2046
2047
2048
2049
2050
2051

WTI 2005-07Mod.MidTrend

Henry Hub 2005-07Mod.MidTrend

WTI - Cond 2005-07Mod.MidTrend

Oil ($/bbl) Gas ($/MCF) Cond ($/bbl)

44.00
6.50
44.00
37.00
6.00
37.00
30.00
5.00
30.00
27.00
5.05
27.00
26.90
4.85
26.90
27.70
4.65
27.70
28.50
4.70
28.50
29.40
4.80
29.40
30.20
4.85
30.20
31.10
4.95
31.10
32.00
5.00
32.00
32.90
5.10
32.90
33.90
5.15
33.90
34.80
5.25
34.80
35.80
5.30
35.80
36.80
5.40
36.80
37.40
5.50
37.40
37.90
5.60
37.90
38.50
5.60
38.50
39.10
5.70
39.10
39.60
5.80
39.60
40.20
5.90
40.20
40.80
6.00
40.80
41.50
6.10
41.50
42.10
6.20
42.10
42.70
6.30
42.70
43.30
6.40
43.30
44.00
6.40
44.00
44.70
6.50
44.70
45.30
6.60
45.30
45.30
6.60
45.30
45.30
6.60
45.30
45.30
6.60
45.30
45.30
6.60
45.30
45.30
6.60
45.30
45.30
6.60
45.30
45.30
6.60
45.30
45.30
6.60
45.30
45.30
6.60
45.30
45.30
6.60
45.30
45.30
6.60
45.30
45.30
6.60
45.30
45.30
6.60
45.30
45.30
6.60
45.30
45.30
6.60
45.30
45.30
6.60
45.30
45.30
6.60
45.30

WTI 2005 - 2007 BPlana

9.80
9.80
9.80

68.60
68.60
68.60

2052
2053
2054

45.30
45.30
45.30

6.60
6.60
6.60

45.30
45.30
45.30

WTI 2005 - 2007 BPlana

WTI 2005 - 2007 BPlan
Year
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
2036
2037
2038
2039
2040
2041
2042
2043
2044
2045
2046
2047
2048
2049
2050
2051

Henry Hub 2005 - 2007 BPlan WTI - Cond 2005 - 2007 BPlan

Oil ($/bbl) Gas ($/MCF) Cond ($/bbl)

27.00
5.00
27.00
27.00
5.00
27.00
27.00
5.00
27.00
27.00
5.05
27.00
26.90
4.85
26.90
27.70
4.65
27.70
28.50
4.70
28.50
29.40
4.80
29.40
30.20
4.85
30.20
31.10
4.95
31.10
32.00
5.00
32.00
32.90
5.10
32.90
33.90
5.15
33.90
34.80
5.25
34.80
35.80
5.30
35.80
36.80
5.40
36.80
37.80
5.50
37.80
38.90
5.60
38.90
40.00
5.60
40.00
41.20
5.70
41.20
42.30
5.80
42.30
43.50
5.90
43.50
44.80
6.00
44.80
46.10
6.10
46.10
47.40
6.20
47.40
48.70
6.30
48.70
50.10
6.40
50.10
51.50
6.40
51.50
53.00
6.50
53.00
54.50
6.60
54.50
54.50
6.60
54.50
54.50
6.60
54.50
54.50
6.60
54.50
54.50
6.60
54.50
54.50
6.60
54.50
54.50
6.60
54.50
54.50
6.60
54.50
54.50
6.60
54.50
54.50
6.60
54.50
54.50
6.60
54.50
54.50
6.60
54.50
54.50
6.60
54.50
54.50
6.60
54.50
54.50
6.60
54.50
54.50
6.60
54.50
54.50
6.60
54.50
54.50
6.60
54.50

WTI 2003 Long Range Plana

WTI 2003 Long Range Plan

Year
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
2036
2037
2038
2039
2040
2041
2042
2043
2044
2045
2046
2047
2048
2049
2050
2051

Henry Hub 2003 Long Range Plan

Oil ($/bbl) Gas ($/MCF)

22.00
4.00
22.00
4.00
22.70
4.06
23.20
4.14
23.60
3.94
24.10
4.02
24.60
4.10
25.10
4.18
25.60
4.27
26.10
4.35
26.60
4.44
27.20
4.53
27.70
4.62
28.30
4.71
28.80
4.80
29.40
4.90
29.99
5.00
30.59
5.10
31.20
5.20
31.82
5.30
32.46
5.41
33.11
5.52
33.77
5.63
34.45
5.74
35.14
5.86
35.84
5.97
36.56
6.09
37.29
6.21
38.03
6.34
38.79
6.47
39.57
6.59
40.36
6.73
40.36
6.73
40.36
6.73
40.36
6.73
40.36
6.73
40.36
6.73
40.36
6.73
40.36
6.73
40.36
6.73
40.36
6.73
40.36
6.73
40.36
6.73
40.36
6.73
40.36
6.73
40.36
6.73
40.36
6.73

2052
2053
2054

54.50
54.50
54.50

6.60
6.60
6.60

54.50
54.50
54.50

2052
2053
2054

40.36
40.36
40.36

6.73
6.73
6.73

WTI - Cond 2003 Long Range Plan

Cond ($/bbl)
22.00
22.00
22.70
23.20
23.60
24.10
24.60
25.10
25.60
26.10
26.60
27.20
27.70
28.30
28.80
29.40
29.99
30.59
31.20
31.82
32.46
33.11
33.77
34.45
35.14
35.84
36.56
37.29
38.03
38.79
39.57
40.36
40.36
40.36
40.36
40.36
40.36
40.36
40.36
40.36
40.36
40.36
40.36
40.36
40.36
40.36
40.36

WTI 2002-Jana
WTI 2002-Jan
Year
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
2036
2037
2038
2039
2040
2041
2042
2043
2044
2045
2046
2047
2048
2049
2050
2051

Henry Hub 2002-2004 Bplan

WTI - Cond 2002-Jan

Oil ($/bbl) Gas ($/MCF) Cond ($/bbl)

21.00
3.80
21.00
21.40
3.85
21.40
21.90
3.95
21.90
22.30
4.00
22.30
22.70
4.10
22.70
23.20
4.15
23.20
23.70
4.25
23.70
24.10
4.35
24.10
24.60
4.45
24.60
25.10
4.55
25.10
25.60
4.60
25.60
26.10
4.70
26.10
26.60
4.80
26.60
27.20
4.90
27.20
27.70
5.00
27.70
28.30
5.10
28.30
28.80
5.20
28.80
29.40
5.30
29.40
30.00
5.40
30.00
30.60
5.50
30.60
31.20
5.65
31.20
31.80
5.75
31.80
32.50
5.85
32.50
33.10
5.95
33.10
33.80
6.10
33.80
34.50
6.20
34.50
35.20
6.35
35.20
35.90
6.45
35.90
36.60
6.60
36.60
37.30
6.75
37.30
38.00
5.40
38.00
38.76
5.50
38.76
39.53
5.61
39.53
40.32
5.73
40.32
41.13
5.84
41.13
41.95
5.96
41.95
42.79
6.08
42.79
43.65
6.20
43.65
44.52
6.32
44.52
45.41
6.45
45.41
45.41
6.45
45.41
45.41
6.45
45.41
45.41
6.45
45.41
45.41
6.45
45.41
45.41
6.45
45.41
45.41
6.45
45.41
45.41
6.45
45.41

Deck 11 Oila
Year
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
2036
2037
2038
2039
2040
2041
2042
2043
2044
2045
2046

40.36
40.36
40.36

2052
2053
2054

45.41
45.41
45.41

6.45
6.45
6.45

45.41
45.41
45.41

2047
2048
2049

Deck 11 Oil Deck 11 Gas Deck 11 Cond

Oil ($/bbl) Gas ($/MCF) Cond ($/bbl)

50.00
6.50
50.00
44.00
6.75
44.00
40.00
6.00
40.00
37.00
5.50
37.00
37.90
5.40
37.90
38.60
5.50
38.60
39.40
5.65
39.40
40.20
5.75
40.20
41.00
5.85
41.00
41.80
6.00
41.80
42.70
6.10
42.70
43.50
6.20
43.50
44.40
6.35
44.40
45.30
6.45
45.30
46.20
6.60
46.20
47.10
6.75
47.10
48.00
6.85
48.00
49.00
7.00
49.00
50.00
7.15
50.00
51.00
7.30
51.00
52.00
7.45
52.00
53.00
7.60
53.00
54.10
7.70
54.10
55.20
7.90
55.20
56.30
8.00
56.30
57.40
8.20
57.40
58.60
8.40
58.60
59.70
8.50
59.70
60.90
8.70
60.90
62.20
8.90
62.20
63.40
9.10
63.40
64.70
9.20
64.70
66.00
9.40
66.00
67.30
9.60
67.30
68.60
9.80
68.60
68.60
9.80
68.60
68.60
9.80
68.60
68.60
9.80
68.60
68.60
9.80
68.60
68.60
9.80
68.60
68.60
9.80
68.60
68.60
9.80
68.60
68.60
9.80
68.60
68.60
9.80
68.60
68.60
9.80
68.60
68.60
9.80
68.60
68.60
9.80
68.60

Deck 12 OilaDeck 12 Oil Deck 12 Gas Deck 12 Cond

Year
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
2036
2037
2038
2039
2040
2041
2042
2043
2044
2045
2046

Oil ($/bbl) Gas ($/MCF) Cond ($/bbl)

50.00
6.50
50.00
44.00
6.75
44.00
40.00
6.00
40.00
37.00
5.50
37.00
37.90
5.40
37.90
38.60
5.50
38.60
39.40
5.65
39.40
40.20
5.75
40.20
41.00
5.85
41.00
41.80
6.00
41.80
42.70
6.10
42.70
43.50
6.20
43.50
44.40
6.35
44.40
45.30
6.45
45.30
46.20
6.60
46.20
47.10
6.75
47.10
48.00
6.85
48.00
49.00
7.00
49.00
50.00
7.15
50.00
51.00
7.30
51.00
52.00
7.45
52.00
53.00
7.60
53.00
54.10
7.70
54.10
55.20
7.90
55.20
56.30
8.00
56.30
57.40
8.20
57.40
58.60
8.40
58.60
59.70
8.50
59.70
60.90
8.70
60.90
62.20
8.90
62.20
63.40
9.10
63.40
64.70
9.20
64.70
66.00
9.40
66.00
67.30
9.60
67.30
68.60
9.80
68.60
68.60
9.80
68.60
68.60
9.80
68.60
68.60
9.80
68.60
68.60
9.80
68.60
68.60
9.80
68.60
68.60
9.80
68.60
68.60
9.80
68.60
68.60
9.80
68.60
68.60
9.80
68.60
68.60
9.80
68.60
68.60
9.80
68.60
68.60
9.80
68.60

68.60
68.60
68.60

9.80
9.80
9.80

68.60
68.60
68.60

2047
2048
2049

68.60
68.60
68.60

9.80
9.80
9.80

68.60
68.60
68.60

Deck 13 OilaDeck 13 Oil Deck 13 Gas Deck 13 Cond

Year
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
2036
2037
2038
2039
2040
2041
2042
2043
2044
2045
2046

Oil ($/bbl) Gas ($/MCF) Cond ($/bbl)

50.00
6.50
50.00
44.00
6.75
44.00
40.00
6.00
40.00
37.00
5.50
37.00
37.90
5.40
37.90
38.60
5.50
38.60
39.40
5.65
39.40
40.20
5.75
40.20
41.00
5.85
41.00
41.80
6.00
41.80
42.70
6.10
42.70
43.50
6.20
43.50
44.40
6.35
44.40
45.30
6.45
45.30
46.20
6.60
46.20
47.10
6.75
47.10
48.00
6.85
48.00
49.00
7.00
49.00
50.00
7.15
50.00
51.00
7.30
51.00
52.00
7.45
52.00
53.00
7.60
53.00
54.10
7.70
54.10
55.20
7.90
55.20
56.30
8.00
56.30
57.40
8.20
57.40
58.60
8.40
58.60
59.70
8.50
59.70
60.90
8.70
60.90
62.20
8.90
62.20
63.40
9.10
63.40
64.70
9.20
64.70
66.00
9.40
66.00
67.30
9.60
67.30
68.60
9.80
68.60
68.60
9.80
68.60
68.60
9.80
68.60
68.60
9.80
68.60
68.60
9.80
68.60
68.60
9.80
68.60
68.60
9.80
68.60
68.60
9.80
68.60
68.60
9.80
68.60
68.60
9.80
68.60
68.60
9.80
68.60
68.60
9.80
68.60
68.60
9.80
68.60

Deck 14 OilaDeck 14 Oil

Year
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
2036
2037
2038
2039
2040
2041
2042
2043
2044
2045
2046

Oil ($/bbl)
50.00
44.00
40.00
37.00
37.90
38.60
39.40
40.20
41.00
41.80
42.70
43.50
44.40
45.30
46.20
47.10
48.00
49.00
50.00
51.00
52.00
53.00
54.10
55.20
56.30
57.40
58.60
59.70
60.90
62.20
63.40
64.70
66.00
67.30
68.60
68.60
68.60
68.60
68.60
68.60
68.60
68.60
68.60
68.60
68.60
68.60
68.60

2047
2048
2049

68.60
68.60
68.60

9.80
9.80
9.80

68.60
68.60
68.60

2047
2048
2049

68.60
68.60
68.60

Deck 14 Gas Deck 14 Cond

Gas ($/MCF) Cond ($/bbl)
6.50
50.00
6.75
44.00
6.00
40.00
5.50
37.00
5.40
37.90
5.50
38.60
5.65
39.40
5.75
40.20
5.85
41.00
6.00
41.80
6.10
42.70
6.20
43.50
6.35
44.40
6.45
45.30
6.60
46.20
6.75
47.10
6.85
48.00
7.00
49.00
7.15
50.00
7.30
51.00
7.45
52.00
7.60
53.00
7.70
54.10
7.90
55.20
8.00
56.30
8.20
57.40
8.40
58.60
8.50
59.70
8.70
60.90
8.90
62.20
9.10
63.40
9.20
64.70
9.40
66.00
9.60
67.30
9.80
68.60
9.80
68.60
9.80
68.60
9.80
68.60
9.80
68.60
9.80
68.60
9.80
68.60
9.80
68.60
9.80
68.60
9.80
68.60
9.80
68.60
9.80
68.60
9.80
68.60

Deck 15 OilaDeck 15 Oil Deck 15 Gas Deck 15 Cond

Year
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
2036
2037
2038
2039
2040
2041
2042
2043
2044
2045
2046

Oil ($/bbl) Gas ($/MCF) Cond ($/bbl)

50.00
6.50
50.00
44.00
6.75
44.00
40.00
6.00
40.00
37.00
5.50
37.00
37.90
5.40
37.90
38.60
5.50
38.60
39.40
5.65
39.40
40.20
5.75
40.20
41.00
5.85
41.00
41.80
6.00
41.80
42.70
6.10
42.70
43.50
6.20
43.50
44.40
6.35
44.40
45.30
6.45
45.30
46.20
6.60
46.20
47.10
6.75
47.10
48.00
6.85
48.00
49.00
7.00
49.00
50.00
7.15
50.00
51.00
7.30
51.00
52.00
7.45
52.00
53.00
7.60
53.00
54.10
7.70
54.10
55.20
7.90
55.20
56.30
8.00
56.30
57.40
8.20
57.40
58.60
8.40
58.60
59.70
8.50
59.70
60.90
8.70
60.90
62.20
8.90
62.20
63.40
9.10
63.40
64.70
9.20
64.70
66.00
9.40
66.00
67.30
9.60
67.30
68.60
9.80
68.60
68.60
9.80
68.60
68.60
9.80
68.60
68.60
9.80
68.60
68.60
9.80
68.60
68.60
9.80
68.60
68.60
9.80
68.60
68.60
9.80
68.60
68.60
9.80
68.60
68.60
9.80
68.60
68.60
9.80
68.60
68.60
9.80
68.60
68.60
9.80
68.60

9.80
9.80
9.80

68.60
68.60
68.60

2047
2048
2049

68.60
68.60
68.60

9.80
9.80
9.80

68.60
68.60
68.60

Does maintenance capital hit the opex interest or the production interest. Right now it is based upon production interest
Also, does overhead expense hit the production wedge or the opex interest. Right now it hits the production interest (it is simpl
To replicate peep, mc gas offset is truncated at 2 decimal places
Right now, maintenance capital discounted investment is multiplied by production interest
Stuff starting in 2005 doesn't work exactly right, add in an esc year variable and set it equal to current year
Still need to adjust code for oil zones, and then update the oil calculation sheet.
Create tool to select price decks.

ased upon production interest

its the production interest (it is simply added to offset)

l to current year

JOB TYPE

'98, thru '02 %

Success

C1 - Coil Tbg-Wash out

C2 - Coil Tbg-Jet w/ N2
C3 - Coil Tbg-Acid / Stim
C4 - Fishing
C5 - Coil Tbg-TTGP
C7 - Coil Tbg-Cement packers
C8 - Coil Tbg-Velocity string
C9 - Coil Tbg-Other
C10 - Coil Tbg-Plugback with coil
E1 - Eline- TTPB (w/ vented basket plug)
E2 - Eline- TTBP (selective set up)
E3 - Eline- Add Perfs
E4 - Eline- Plastic / water shut-off
E5 - Eline-TT Screen
E6 - Eline- Other
E7 - Eline- Slickline EDT jobs
E8 - Eline- Eline TTGP
E-9 E/Line TTBP Downhole selective
M-1 - MRWO Single Completion
M-2 - MRWO Single Completion w/ Selective
O1 - Bullhead Stimulation
O2-Other Pumping jobs
O3 - Other
P1 - P&A
P2 - Diagnostics
P3 - Casing Remediation
P4 - TA for sidetrack
P5 - Repairs(SSV/TBG Leaks)
P6 - Casing Pressure
PE - Financial Items
PE - Reservior (PNL's, BHP's)
PE - Operation Support
S-Snubbing

70%
93%
92%
83%
80%
67%
75%
80%
78%
85%
90%
89%
89%
75%
87%
85%
91%
88%
90%
90%
75%
75%
80%
98%
93%
92%
100%
100%
100%
100%
100%
100%
90%

7/14/2014

238176196.xls.ms_officePOS