AAPG Annual Convention & Exhibition New Orleans, 13 April 2010 2007 DCENR Adelaide Road Dublin 2, Ireland AAPG Annual Convention & Exhibition New Orleans, 13 April 2010

Slyne-Erris-Donegal Basins Hatton Basin Slyne-Erris-Donegal Basins Rockall Basin Porcupine Basin Celtic Sea Basins Goban Spur Basin

Concession Map April 2010 Exploration Licence Licensing Option Petroleum Lease Concession Map April 2010

ONSHORE IRELAND LICENSING 2010 Applications are invited for Licensing Options over the Northwest Carboniferous Basin and the Clare Basin. Applications may be submitted up to 12 noon on Friday, 11th June 2010. Full details are available on www.pad.ie

Total exploration wells offshore Ireland: 128 (includes 41 WOI) Total appraisal wells: 27 Total development wells: 24 Exploration Wells (1970 – 2009)

Key Discoveries (1970 – 2009) DOOISH Gas / gas condensate CORRIB Oil BURREN HELVICK BALLYCOTTON SEVEN HEADS SPANISH POINT CONNEMARA KINSALE HEAD OLD HEAD DOOISH SCHULL HOOK HEAD CORRIB BANDON Gas / gas condensate Oil Key Discoveries (1970 – 2009)

Recent Petroleum Systems and Resource Assessment Studies Slyne, Erris, and Donegal Proven Play 1 bboe Key Play: Permo-Triassic Source: Carboniferous Traps: Inversion/Tilted Faults Key Risk Seal North East Rockall Margin New Play Concept 2.5 bboe Key Play: Permo-Trias / Middle Jurassic Source: Upper and Lower Jurassic Key Risk Reservoir prediction South East Rockall - Perched Basins Frontier Play 2.5 bboe Key Play: Triassic and Middle Jurassic Key Risk Model driven/unproven South Porcupine Frontier Play 1 bboe Key Play: Lower Cretaceous & Jurassic Source: Upper Jurassic North Porcupine Frontier Play 2 bboe Key Play: Cretaceous & MiddleJurassic Key Risk Reservoir Recent Petroleum Systems and Resource Assessment Studies

LICENSING & FISCAL TERMS Features of 1992 terms no state participation or royalties 25 % corporation tax generous write-off provisions Frontier Exploration Licenses Features added in 2007 0-15% RRT for profitable fields 12 year minimum period for Frontier licences confidentiality periods reduced to 4 years

DESPITE DEMONSTRATED PROSPECTIVITY AND FAVOURABLE TERMS TOO FEW WELLS PLAYS NOT BEING TESTED FAST ENOUGH NEED TO BRING IN MORE EXPLORERS

DESPITE DEMONSTRATED PROSPECTIVITY AND FAVOURABLE TERMS TOO FEW WELLS PLAYS NOT BEING TESTED FAST ENOUGH NEED TO BRING IN MORE EXPLORERS

DESPITE DEMONSTRATED PROSPECTIVITY AND FAVOURABLE TERMS TOO FEW WELLS PLAYS NOT BEING TESTED FAST ENOUGH NEED TO BRING IN MORE EXPLORERS FEEDBACK Make it easier for smaller companies to enter Have less prescriptive work programmes Give more time to firm up drilling plans Acquire more data Make data more freely available…

MAJOR ATLANTIC IRELAND ROUND FOR 2011 PREVIEW Round planning at advanced stage Details to be announced shortly Closing date expected to be End Q1, 2011 Rockall Basin Slyne - Erris Basins Highlights All areas WOI with proven petroleum systems to be included Diverse reservoirs and trapping styles; numerous undrilled prospects with potential for giants Round to cover Rockall, Porcupine, Slyne/Erris & Goban basins for first time A less onerous ‘front-end’ option-style authorisation will feature Enhanced opportunities for smaller exploration companies and contractors Easier access to data under consideration Porcupine Basin Goban Spur Basin

Key References Regional prospectivity assessments are available for the Atlantic Ireland basins, as follows PAD/DCENR Special Publication 1/05 Petroleum Systems Digital Atlas for The Slyne, Erris and Donegal basins PAD/DCENR Special Publication 3/06 Petroleum Systems Digital Atlas for the Rockall and Porcupine basins. For up-to-date information on the important commercial aspects of Irish E&P including the procedures and benefits of doing business in Ireland you are referred to PAD/DCENR Special Publication 1/09 Commercial Handbook Details of these and other special publications are contained on www.pad.ie Several research studies have been sponsored in the area by the Petroleum Infrastructure Programme (PIP). Details are contained on www.pip.ie

IS08/05 – Kinematic Plate Reconstruction Plate reconstruction of the North Atlantic shows a juxtaposition of the Rockall and Porcupine basins with the Orphan and Flemish Pass basins offshore Newfoundland. This gives fresh insights into the distribution of exploration plays, including depositional environments and reservoir prediction, between Atlantic Ireland and the more mature petroleum provinces of eastern Canada. IS08/05 – Kinematic Plate Reconstruction IS09/06 – Proposed Integrated Deep Seismic

Data & Information SPATIAL DATA www.pad.ie INDUSTRY DATA www.pad.ie RESEARCH DATA www.pip.ie