Thailand: Blocks L3/48, L9/48 and L17/48 PCAs

In western Thailand, we own a 50% interest in three onshore exploration blocks, namely the Blocks L3/48, L9/48 and L17/48 Petroleum Concession Agreements (“PCAs”). The L17/48 PCA commenced on 8 December 2006 with an initial exploration obligation period of 6 years, followed by a commercial production period of 20 years and an option to extend the commercial production period for up to 10 years. The L3/48 and L9/48 PCA commenced on 20 April 2007 and have similar terms as the Block L17/48 PCA. We have joint control with our partner over the operations of the fields. The PCAs cover a total area of approximately 9,911 square kilometres. Block L17/48 covers an area of 3,996 square kilometres and is located in western Thailand abutting the Myanmar border and encompasses the Mae Sot Basin. Blocks L3/48 and L9/48, which are adjacent to each other, cover an area of 1,981 square kilometres and 3,934 square kilometres respectively and are located directly to the northeast of Block L17/48.