1. 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 www.apachecorp.com. CORPORATION From Well Performance Data to Imaging November 6, 2008

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

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

4. CORPORATION Reservoir Image

5. CORPORATION Internal Complexity of Image

6. CORPORATION Performance Confirmation of Image

7. 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

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

9. CORPORATION History Match Model must be built around data available

10. CORPORATION Well Performance Prediction must fit the image (geometry)

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

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

13. CORPORATION Image of Reservoir Parameters (pressure)

14. CORPORATION Model Representation of Fluid Saturation

15. CORPORATION Model Representation of Fluid Saturation

16. CORPORATION Initial Prediction

17. CORPORATION History Match ( identify anomies)