Operations

Petrolifera's Peru Blocks

Fig. 1

Fig. 2

  • Petrolifera has secured two blocks totalling 5.2 million acres (Petrolifera operated)
  • Relatively underexplored
  • Large blocks with significant resource/reserve potential
  • New contract terms to attract investment - one of the best in South America (5-20% sliding scale royalty, 30% tax)
  • Can export production
  • Free flow of capital
  • Strong and growing economic framework
  • Surge in industry interest - 50 new blocks awarded after Petrolifera secured 106 and 107

Maranon Block 106, Peru - 100%

  • 1,997,500 acres
  • Encloses Corrientes, the largest oil field in the Marañon Basin with reserves estimated to exceed 200 MMBO(1)
  • Other nearby producing fields:
  • Expect excellent reservoirs
  • Oil pipeline with spare capacity runs through entire length of Block
  • Attractive prospects and leads

(1) Based on publicly available information at: www.perupetro.com.pe

Fig. 3 - Maranon Block 106

Maranon Basin - Block 106

PROSPECTS (1)

San Juan
  • Offsetting San Juan Well which tested oil
San Juan E
San Juan S

LEADS

San Juan N
Corrientes NE
  • Possible mirror image of Corrientes Field
Cuinico N
  • Well believed to be drilled off structure
Cuinico S
  • Well tested 18.8o API oil and, and is believed to be drilled off structure
Diana Mae
  • Well tested (RFT) 29.9o oil from two different sands, and is believed to be drilled off structure
Concordia
  • Structure very poorly defined if at all present
  • Well head leaking oil
  • NW-SE trending series of gas seeps near old well

    (1) Reference is made to Petrolifera's Annual Information Form for the year ended December 31, 2007 ("Business of the Corporation - Principal Properties" and "Risk Factors") for a detailed description of Petrolifera's interest in the license, the location of the license, product types reasonably expected and risks and uncertain ties relating to international exploration activities.
Period
Term
Activity
Guarantee
(US$MM)
Investment
(US$MM)
1
24 months reprocessing seismic interpretation, studies
0.1
0.6
2
12 months seismic
0.3
1.6
3
12 months drill one well
1.5
10.0
4
12 months seismic
0.3
1.6
5
12 months drill one well
1.5
10.0
6
12 months seismic/drill
0.3
1.6

 

 

 

 

25.4

Ucayali Block 107, 133 Peru

  • Large Blocks of approximately 3,205,000 acres (107) and 979,000 acres (133)
  • On trend with giant Camisea Field
  • Newly acquired seismic indicates multi prospect potential
  • Undrilled, large structures identified, may contain giant accumulations
  • Giant reserve and company maker potential
  • Crude oil and natural gas potential

Ucayali Block 107 and 133

Fig. 4

Peru - Ucayali Block 107 and 183

Fig. 5


  • Camisea Complex estimated at 16.4 TCF gas and 850 million barrels(1)
  • Neighboring Fields:
    • Aguaytia Gas Field (0.44 TCF, 20 MMBC) - produces/day 65 MMCF & 4,400 BBL NGL+Cond
    • Agua Caliente Oil Field approximately 15 MMBO(3)
    • Maquia Oil Field approximately 15 MMBO(3)
(1) All reserve estimates are based on publicly available information at: www.perupetro.com.pe
(2) Based on publicly available information at: www.aguaytia.com
(3) Based on historical production


Ucayali Block 107 - Prospects and Leads

Fig. 6

Fig. 7

Block 107 Work Commitments

Period
Term
Activity
Guarantee
(US$MM)
Investment
(US$MM)
1
36 months studies
0.1
0.4
2
18 months 200 km seismic
0.5
3.0
3
18 months 200 km seismic or option to drill one well
0.5
3.0
4
12 months drill one well
1.5
10.0

 

 

 

 

16.4

Fig. 8

Fig. 9

Fig. 10