Petroleum Investment Opportunities Offshore Suriname AAPG 2003 Convention & Exhibition 11 - 14 May 2003 Salt Lake City

Staatsolie The State Oil Company Suriname - Staatsolie - is an integrated oil company fully owned by the Republic of Suriname: Undertake E&P activities in Suriname Promote the hydrocarbon potential Develop a National expertise in the oil industry.

Financial figures 2002 US$ 100 million in Gross Revenues US$ 37 million in Earnings before Income Taxes 4.5 million barrels of 15.8o API Saramacca crude 2.7 million barrels of refined products 127 million barrels proven reserves 35 million investment program for 2003

19 Exploration Blocks 2003 - 2004 500m 200m 1000m 2000m 3500m 4000m 3000m 500 700 800 900 1000 600 10m 30m 50m 100m 3m 0m BNS-1 TN-1 WA-2 I/23-1X CO-1 CA-1 SON-1 SO-1 MO-1 GLO-1 NCO-1 A2-1 ABARY-1 FRENCH-GUYANA GUYANA D E M E R A R A PLATEAU B/34-1X PARAMARIBO APURA S H ELF S H E L F - E D G E D E E P W A T E R NEAR-SHORE 1200m 27 28 1 2 3 4 5 8 9 10 11 12 13 14 15 16 18 19 20 21 22 23 24 25 26 7 100KM 50 DRY WELL OIL SHOWS OIL WELL OIL FIELD GAS SHOWS OIL & GAS SHOWS TRANSITION ZONE NEARSHORE SHALLO W W ATERS SHELF-EDGE DEEP WATER LEGEND ONSHORE EXPLORATION BLOCKS 2003-2004 SURINAME

Guyana Basin USGS estimate (2000 report): Potential reserve of 15.3 billion barrels crude and 42 tcf gas ranked 2nd under explored basin 117 oil fields: 24> 100million barrels 6> 500 million barrels Found to-date: 1 oil field with 167 MMBLS reserves (Tambaredjo, onshore Suriname)

No bonuses No Levies on Exports No Taxes on Import No Rental Fees Royalty Cost Oil Exploration DevelopmentProduction Profit Oil Fixed Rate Taxes

Petroleum Occurrences Guyana Basin Paramaribo 200 m 2000 m Suriname Guyana Venezuela Brazil Fr. Guiana 100 Mi 100 km Trinidad Atlantic Ocean Tambaredjo oil field Takutu Basin 6 N o 4 N 8 N 10 N 55 W 57 W 51 W 53 W 59 W

Basin Formation Africa Africa South America Africa South America Early KK Rotation Africa Inversion early grabens Africa Central Atlantic phase (CA) Lower JJ rifting Upper JJ passive margin Guinea Fault Zone Africa Takutu Graben South America Inversion Africa Equatorial Atlantic phase (EA) Albian - Recent Wrench margin development Takutu Graben South America Proto-Caribbean SURINAME Takutu Graben South America

Suriname basin: Stratigraphy Number of wells S N 22 + 900 onshore wells 15 4 ~5 Takutu graben wells Guyana

Suriname Offshore Area of Mature Turonian Source Rock Petroleum System 500 700 800 900 1000 600 100 200 KM 1200m 10m 30m 50m 100m 3m 0m BNS-1 TN-1 WA-2 I/23-1X CO-1 CA-1 SON-1 SO-1 MO-1 GLO-1 NCO-1 A2-1 ABARY-1 FRENCH-GUYANA GUYANA D E M E R A R A PLATEAU B/34-1X PARAMARIBO APURA S H ELF S H E L F - E D G E D E E P W A T E R NEAR-SHORE 27 28 1 2 3 4 5 8 9 10 11 12 13 14 15 16 18 19 20 21 22 23 24 25 26 7 Petroleum System Envelope Area of Mature Turonian Source Rock

WesternGeco speculative surveys 1999 & 2001 seismic coverage 500m 200m 1000m 2000m 3500m 4000m 3000m 500 700 800 900 1000 600 100 200 KM 1200m 10m 30m 50m 100m 3m 0m BNS-1 TN-1 WA-2 I/23-1X CO-1 CA-1 SON-1 SO-1 MO-1 GLO-1 NCO-1 A2-1 ABARY-1 FRENCH-GUYANA GUYANA D E M E R A R A PLATEAU B/34-1X PARAMARIBO APURA S H ELF S H E L F - E D G E D E E P W A T E R NEAR-SHORE In addition: ~ 25.000 km 1970-1999 vintages ON OPEN FILE Staatsolie data WesternGeco speculative surveys Well-tie program Regional program

Identified Play Types N S Onshore blocks Offshore blocks SUBCROP TRAPS POP-UP STRUCTURES ONLAP TRAPS SHELF EDGE CANYONS LEVEED AND CHANNELISED TURBIDITE SYSTEMS LOW STAND FANS CEN / TUR SR JURASSIC LACUSTRINE SR

Suriname Offshore 106 134 NCO-1 CO Staatsolie data 100 200 KM 500 700 800 900 1000 600 100 200 KM 1200m 10m 30m 50m 100m 3m 0m BNS-1 TN-1 WA-2 I/23-1X CO-1 CA-1 SON-1 SO-1 MO-1 GLO-1 NCO-1 A2-1 ABARY-1 FRENCH-GUYANA GUYANA D E M E R A R A PLATEAU B/34-1X PARAMARIBO APURA S H ELF S H E L F - E D G E D E E P W A T E R NEAR-SHORE 106 Staatsolie data 134 NCO-1 CO

Aptian/Albian Onlap Trap CA mega-sequence: Original graben fill EA mega-sequence Turonian source rocks 4000 2000 Volcano- clastics ?

 50 KM CO-1 NCO-1 TWT(ms)  Pl MEO LEO UMI MMI LMI OL EO PC MA CA TR CE AB AP TOP UK TOP CA TOP LK  MEO LEO 50 KM

Suriname Offshore The combination of a steep actively prograding shelf, with sand carried to the shelf edge, adjacent to a deep pull-apart basin is a classic setting for sand-rich turbidites and low-stand fans.

NW SE W99-106 MATURE TURONIAN SOURCE ROCK 25KM CDP MM UNC LOWER TERTIARY TURBIDITES TWT(MS) KK UNC APT / ALB UNC MATURE TURONIAN SOURCE ROCK 25KM

NW W99-134 SE Miocene Turbidites / Low Stand Fan Complex CDP Miocene Turbidites / Low Stand Fan Complex TWT(MS) Lower Tertiary Turbidites 25KM

Channel architecture associated with Miocene Turbidites/Low-stand fan complex After TFE 500m 200m 1000m 2000m 3500m 4000m 3000m 500 700 800 900 1000 600 100 200 KM 1200m 10m 30m 50m 100m 3m 0m BNS-1 TN-1 WA-2 I/23-1X CO-1 CA-1 SON-1 SO-1 MO-1 GLO-1 NCO-1 A2-1 ABARY-1 FRENCH-GUYANA GUYANA D E M E R A R A PLATEAU B/34-1X PARAMARIBO APURA S H ELF S H E L F - E D G E D E E P W A T E R NEAR-SHORE AFTER TFE

Prograding Coastal sands Summary of trap types 10m BNS-1 Shelf-edge canyon Prograding Coastal sands Low-stand wedge A/A truncation A/A onlap UKK pinch-out Basement onlap Area with roll-overs Combination trap Rotating fault blocks Submarine fans

Visit Booth 54 Atlas with full set of well data, seismic data and lead inventory. Knowledgeable staff to guide you further. Make an appointment to visit our offices in Paramaribo, Suriname. Visit our website at www.staatsolie.com