Great team work

Exploration & Production History of Upstream E&P Early 1970’s operated as international company of the state own oil and gas company, Rompetrol (Iraq 1974). 1980 started operations as ROMPETROL of LIBYA by signing an EPSA with NOC LIBYA for Block NC 115 within the Murzuk Basin. 1984 World class achievements: the discovery of giant oilfields in Libya, Murzuk Basin (>100 MM bbl). 2001 Rompetrol acquired 100% interest in Block 11, Oriente Basin, Ecuador, through the purchase of Lumbaqui Oil Ltd. 2004 Rompetrol started exploration of Zegujani and Satu Mare blocks. 2005 Rompetrol acquired the exploration licenses for East Carpathians blocks by transfer from Forest Oil USA. 2006 Rompetrol won by Bidding procedure the production license on Gas Field Golesti.

E&P in Romania 40% 100% 65% Joint Operating Agreement Satu Mare Block Focsani, Gresu Nereju, Blocks 100% Zegujani Block 65% Joint Operating Agreement

E&P International Experience Russia Komy: Chedtinskoye West Siberia: Khanty-Mansisk Lebyazhye Gubkinskoye Saratov Khlebnovskoye, Emelyanovskoye Astrakhan Astrakhan Tatarsthan Elgyskoye, Stepnoozerskoye Kazakhstan Koza, Karagan, Kemerkol, Liman Block Karamandybas East Mortuk Komsomolskoye Ravninoye Tolkin, Tortay, Borankol Tasbulat, Aktas, Turkmenoi Sinelnikovskoye

E & P Capabilities: Human Resources Specialists No of Employees Senior Exploration Geophysicist 1 Exploration Geologist Geophysicist – log Analyst Senior Geologist– Field Production Senior Reservoir Engineer Production & Workover Engineer Consultant Specialists (expert) Risk/Economic Analyst 2 Support (Data Base, QHSE, administrative) Management Upstream Business Development TOTAL 12 Exploration Risk Appraisal & Development Plans History Production Performance Analysis Decline curve performance Drive mechanism 2D, 3D Seismic interpretation Reservoir Modeling Structural, Petrography Stratigrapy Facies Physical Reserves Evaluation Production Options Economic Analysis E & P

E&P capabilities: Hardware & Software Petrel 07 - 2 licenses seismic interpretation, 1 for reservoir modeling. OFM 06 @Schlumberger Software -1 license PipeSim 06 @Schlumberger Software -1 license the production license on Gas Field Golesti. LANDMARK – Georgraphix 1 license for seismic interpretation, reservoir modelling and log interpretation

E&P Data Base Regions: Russia, Kazakhstan & other C.I.S. Topics: Maps General Data Reserves & Production Balancies Fields & Wells Library – Books & Magazines Legend:

Assets overview: Zegujani Exploration Block ms S N Aquitanian - Oligocene Deeper Triassic prospect Lupsa prospect

Assets overview: Satu Mare Exploration Block 80 WELLS poor investigated Logs: PS, deep and shallow resistivity (except 4– PGAC) Cores Production test 214 SEISMIC LINES 16 vintages 1974-1994 acquired and processed with different parameters Seismic lines Legend

Assets overview: Satu Mare – Top Badenian Structural Map

Assets overview: Gresu, Nereju, Focsani

Assets overview: Gresu & Neregu Blocks Casin Bisoca Fault

Upstream E&P Strategy The E&P Department supports The Rompetrol Group (TRG) strategy to become an integrated oil company by identifying exploration assets both in Romania and overseas. Evaluate and bid for valuable exploration/production assets in Romania offered by the National Agency of Mineral Resources (NAMR). Expand onshore activity in North Africa, Middle East, Black Sea and Caspian regions.