2. Sector Breakdown

3. Market CapP/EP/BROEROA S&P 50016,759.57 M 16.92.615.23.3 Contract Drilling60.70 M 11.21.19.55.2 Oilfield Services/Equipment249.65 M 17.82.413.77.9 Integrated Oil713.99 M 11.81.917.59.4 Oil & Gas Production402.65 M 16.51.87.73.5 Oil Refining/Marketing101.64 M 12.41.916.36.6 Oil & Gas Pipelines99.91 M 37.03.411.02.2

4. Investment Thesis  Low P/E  High ROE  Low P/B  Well Positioned to Capture Future Demand

5. Cyclicality  Late Cycle Stage  Maturity of Economic Growth  React to Inflation

6. Energy Sector Drivers  Commodity Prices – U.S. Dollar Based  Cyclicality of the Market  Energy Demand  Interest Rates  Global Population Growth  Economic Development  General Business Conditions

7. Energy Sector Risks  Commodity Prices  Federal Regulations  Demand for Oil & Gas  More Efficient Society  Societal Growth

8. Multiples  Price/Book  Price/Sales  Price/Cashflow  ROE %  ROA %

9. Atwood Oceanics, Inc.

10. Competition Market CapP/EP/BROEROA Atwood Oceanics, Inc.3,032 10.31.616.79.8 Median10,06711.11.110.25.9 Average10,63911.61.19.35.3 Diamond Offshore Drilling, Inc.6,611 14.4-11.97.0 Transocean Ltd.15,811 9.91.05.12.3 Ensco PLC12,167 9.71.210.76.7 Noble Corporation PLC7,967 12.2-9.65.0

11. Operating Days Contracted