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Mahona Energy – Agenda

Mahona Energy – Agenda. The Hobby Prospect Use of GeoDIRK Expert System The “Six-Pack” Concept Funding and/or Farm-In Questions / Team Available at Lunch. Mahona Energy – Hobby. Information from 2007 BERR CD Upper Jurassic Potential of ~ 75 MM bboe Drill/Drop License Issued from Today

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Mahona Energy – Agenda

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  1. Mahona Energy – Agenda • The Hobby Prospect • Use of GeoDIRK Expert System • The “Six-Pack” Concept • Funding and/or Farm-In • Questions / Team Available at Lunch mahona.com

  2. Mahona Energy – Hobby • Information from 2007 BERR CD • Upper Jurassic • Potential of ~ 75 MM bboe • Drill/Drop License Issued from Today • Confirmed by our Own Geophysical Analysis • Re-confirmed by Our GeoDIRK Study • Part of the First “Six Pack” Study Group mahona.com

  3. B Mahona Energy – Hobby Location mahona.com

  4. Geodirk shows Strat trap on the dip line. Mahona Energy -- Hobby mahona.com

  5. Mahona Energy - Hobby • Field Exploitation • Further Seismic Acquisition • Further GeoDIRK Study • Drill/Drop Decision • Exploration Drilling • Subsea Tie-Back [Contingent Funding] Estimated Landed Cost USD 25/bbl First Oil Mid to Late 2011 mahona.com

  6. Mahona Energy - GeoDIRK • Unique Expert System, Converting Seismic to Porosity / Permeability • Under Development Since 1992 – DTI, University Reports, Field Use • Challenge is “Not Invented Here” – cf ExxonMobil and Success with CSEM ! • Exploration Example – Mahona, et al • Production Example – Caspian Sea mahona.com

  7. Mahona / GeoDIRK in Production mahona.com

  8. Mahona Energy with GeoDIRK The “Six Pack” Concept [1] • USD 500 Bn p/a Spent on Exploration • Around 2/3 is Wasted • Also Gated by Non-Availability of Talent • A New Approach is Required • “Six Pack” Offers This mahona.com

  9. Mahona Energy with GeoDIRK The “Six Pack” Concept [2] • “First Catch Your Hare” • AKA – Use Existing Seismic Data • Take 50 Sets of Available Seismic Data • Process via GeoDIRK • Discard “Worst” 50 Percent • Re-Process / Re-Shoot as Appropriate • Distil to “Top Six” mahona.com

  10. Mahona Energy with GeoDIRK The “Six Pack” Concept [3] Of Those Top Six, Estimate that Three Will Deliver 70 MM bbl Each LOW COST, QUICK HIGH RETURN And do it Again, and Again . . . mahona.com

  11. Mahona Energy – Funding • To Year End 2010 – USD 2.5 MM • Fully Establish Company • Prepare Hobby Block • Identify / Process Initial “Six Pack” Possible 2 Billion bbls and 3.5 Tcf Gas • Mid 2010 – Decide Drill / Drop on Hobby • Drilling for Cash? • Farm In? Sell “Oil in the Ground”? • Market Conditions / Oil Price? mahona.com

  12. Mahona Energy - Funding • To YE 2011 – Position Company • To be Able to Apply for, and Operate, Traditional UK Licenses – Landward and Seaward • Ditto for Other Appropriate Areas • Light Sweet Oil • Politically Stable • Tax Attractive • Gas Extraction / CO2 Storage? • Start Implementing Alternative Energy R&D Programme • Identify and Implement Exit Route for Early Investors as and if Required mahona.com

  13. Mahona Energy – Questions ? mahona.com

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