Elver-1 Petrophysical Summary Interpretation based on Memory LWD Data at TD 12 Jan. 2009

Small Scale plot over all zones of interest 1,2 Two sandy packages separated by -3- thick silty interval. The upper sands have been divided into four reservoir units based on log character. The sand at TD is treated as a single unit 1 2 3

Elver-1 Memory Data Composite Logs over reservoir Small scale plot from top Gurnard to Campanian Siltstones Caliper and density correction show hole is generally in good condition. Log quality is good Sands show typical density-neutron responses. Densities of 2.15g/c3 show porosities are high. Resistivities overlay and are uniformly low in sands (1 Ohmm). Slightly higher in claystones (3-4Ohmm)

Elver-1 Memory Data Composite Logs at TD Larger scale plot showing Campanian-B sand at TD. Log quality good: caliper shows good hole conditions. 1. Memory GR drops to zero 2. Resistivity curves overlay in sand and are low (1Ohmm). In the overlaying siltstone some separation is seen between phase (red), attenuation (blue) and ‘at-bit’ black. This is a result of the measurement physics and not invasion. 3. Classic sandstone response on density-neutron. Density correction small 1 2 3

Elver-1 Memory Data Composite Logs from 4175 – 4325m illustrating log responses in upper sandy interval. Log quality good: caliper shows good hole conditions. 1. Generally high GR (minimum of 60) probably caused by KCl mud. 2. Very high GR (185api) but density-neutron still showing sandstone like separation. 3. Relatively high and varying Gamma but resistivity and density-neutron suggest clean sand with uniform porosity 1 2 3

Elver-1 Interpreted memory Logs at Top Latrobe ( m)

Elver-1 Interpreted memory Logs at Top Latrobe ( m) Excellent quality sand packages separated by thin silts and shales.

Elver-1 Interpreted memory Logs at TD: Campanian-B 1 Notes: 1. Data gaps counted as non-reservoir in averages (in this case caused by missing neutron data.

Elver -1 Averages (to top of thick siltstone) Elver -1 Averages (Sand at TD) N.B Gaps in the interpretation caused by missing log values are counted as non- sand