The following discussions contain certain “forward-looking statements” as defined by the Private Securities Litigation Reform Act of 1995 including, without limitation, estimates, expectations, plans and goals regarding Apache’s production, reserves, financings, acquisitions, exploration and exploitation prospects, energy prices, operating costs, and results of operations. Such forward-looking statements involve estimates, assumptions and uncertainties. No assurance can be given that Apache’s expectations or goals will be realized, and actual results may differ materially from those expressed in the forward-looking statements. For reconciliations of non-GAAP financial measures, see our web site CORPORATION From Well Performance Data to Imaging November 6, 2008

CORPORATION Seismic Amplitude Image How do we relate this image to expected response

CORPORATION Typical Image Process Reservoir Model Parameter View Calculated Seismic Response Seismic Data View

CORPORATION Reservoir Image

CORPORATION Internal Complexity of Image

CORPORATION Performance Confirmation of Image

CORPORATION Heart Beat of Well – data that validates image  Reservoir Pressure  Reservoir Porosity  Reservoir Thickness  Reservoir Geometry  Reservoir Depth  Well Type  Well Completion  Well Operating Conditions  Reservoir Pressure  Reservoir Porosity  Reservoir Thickness  Reservoir Geometry  Reservoir Depth  Well Type  Well Completion  Well Operating Conditions

CORPORATION Well Performance profile Model based on profile will validate image and allow for predictive capability

CORPORATION History Match Model must be built around data available

CORPORATION Well Performance Prediction must fit the image (geometry)

CORPORATION Image of Reservoir Velocity Calculation Validated model allows for image generation

CORPORATION Image of Reservoir Parameters (pressure) Validated model predicts parameter distribution

CORPORATION Image of Reservoir Parameters (pressure)

CORPORATION Model Representation of Fluid Saturation

CORPORATION Model Representation of Fluid Saturation

CORPORATION Initial Prediction

CORPORATION History Match ( identify anomies)