1. Title Page 1 TIOGE Presentation. September 2003 Slide 1 BURREN ENERGY TIOGE – September 2003 Nebit Dag 3D Seismic Survey

2. Location Map 2 TIOGE Presentation. September 2003 Slide 2 Location Map Of Nebit Dag PSA N Change

3. Regional Structure Map 3 TIOGE Presentation. September 2003 Slide 3 Regional Structure Map N

4. Strat Column 4 TIOGE Presentation. September 2003 Slide 4 Stratigraphic Column Akchagyl Muds provide the major top seal. Principal reservoir unit is the Middle Pliocene Red Series. Characterised by fine- grained, well cemented alluvial/coastal plain clastics. Deep marine shales in the Oligo-Miocene Maikop are thought to be the principal source rock for this prospect.

5. Nebit Dag PSA Area 5 TIOGE Presentation. September 2003 Slide 5 Nebit Dag PSA Oil Field Gas Field Gas Condensate Prospects Relinquished Area Nebit Dag PSA 1997 3D Seismic 2003 3D Seismic 1998 2D Seismic Other 2D Seismic

6. Nebit Dag PSA Production Figures 6 TIOGE Presentation. September 2003 Slide 6 Nebit Dag PSA – Production Figures

7. Nebit Dag PSA Activities Figures 7 TIOGE Presentation. September 2003 Slide 7 Main Activities In Nebit Dag PSA 1997 – 2002 3D Seismic (165km 2 ) Burun Field 2D Seismic (500km) Exploration Area PHASE I: Drilling Coring and Logging 5 new wells Program of well workovers and perforations – 3 workover rigs Installation of gas lift facilities RESULT – Increase in oil production to over 1900mt/day Plans for 2003 Continue well workovers and new perforations in Burun Field. Extend 3D Seismic over remaining exploration area. Commence PHASE II of drilling

8. Comparison of 2D and 3D Lines 8 TIOGE Presentation. September 2003 Slide 8 Why Shoot 3D? – Comparison Of 2D And 3D Lines S N SN 1997 2D Line 0041998 Arbitrary 3d Line 2D Migration artifacts obscure reflectors and prevent fault delineation Definition of both major and minor faults is greatly improved

9. 2D Horizon 9 TIOGE Presentation. September 2003 Slide 9 Why Shoot 3D? – 2D Seismic Interpretation 2D Interpretation proves to be unsatisfactory Distances between 2D lines, combined with poor quality data adjacent to crestal structures, makes correlation of faults and horizons extremely difficult Base Red Series. Horizon Map. 1998 2D Data

10. 3D Horizon 10 TIOGE Presentation. September 2003 Slide 10 Why Shoot 3D? – 3D Seismic Interpretation Top Red Series. Horizon Map. 1998 2D Data 3D data allows more complex structures to be precisely defined. Interpretation resembles structural models

11. Acquisition Parameters 11 TIOGE Presentation. September 2003 Slide 11 Acquisition Parameters Sample rate 2 msec Record length7 sec Group interval50 m Source interval50 m Bin dimensions25 m x 25 m Receivers12 geophones per station Source pattern (expl)3 hole pattern, 6 m depth 5 hole pattern, 3 m depth (very soft terrain) Charge size & type400-800 gm of Trotyl per hole Vibrators50,000 lb peak force - 4 in use at all times Sweep length12 sec Sweep frequencies8-96 Hz Sweeps per VP4

12. Spread Geometry 12 TIOGE Presentation. September 2003 Slide 12 Spread Geometry Patch 2 Ch 1 Ch 240 Ch 1 Ch 60 110 Patch 1 Ch 1 101 Ch 240 Ch 1 Spread geometry - Template 1 Receiver line interval500 m Source line interval500 m Number of receiver lines6 Channels per line240, centred on source salvo Nominal fold36 Cross-line roll3 receiver lines (1500 m) In-line roll500 m Source configuration10 shot salvo between 3rd and 4th line Spread geometry - Template 2 (for core area of field) Receiver line interval500 m Source line interval500 m for primary lines 250 m between primary lines and ‘mini’ lines Number of receiver lines6 primary lines 3 ‘mini’ lines Channels per line240, centred on source salvo 60, centred on source salvo for ‘mini’ lines Nominal fold54 over core area covered by ‘mini’ lines Cross-line roll3 receiver lines (1500 m) In-line roll500 m Source configuration10 shot salvo between 3rd and 4th line

13. Topography 13 TIOGE Presentation. September 2003 Slide 13 Topography Terrain type 1: Oilfield Installations Terrain type 2: Sabkha Terrain type 3: Lake Terrain type 4: Gravel Plain/Sand Road Major Pipeline 2003 Survey Boundary N Vyshka Monzhukly Kara Tepe Kum Dag

14. Terrain Type 1 14 TIOGE Presentation. September 2003 Slide 14 Terrain Type 1 – Oilfield Installation Characterised by high density of pipelines, wellheads and phone/electricity masts. Oil Spills present. Acquisition exclusively by Vibrators. PPV meter will establish safe acquisition distances. Pre-planning is critical step to safe and efficient production.

15. Terrain Type 2 15 TIOGE Presentation. September 2003 Slide 15 Terrain Type 2 – Sabkha Characterised by soft muds topped with a brittle salt crust. Vehicle access is a major issue. Acquisition exclusively by explosives. Decreased drilling efficiency for 5 x3 metre shotholes. Portable rigs and hand carrying of equipment will be employed

16. Terrain Type 3 16 TIOGE Presentation. September 2003 Slide 16 Terrain Type 3 – Lake Characterised by large areas of standing water. Average depth less than 1 metre. Acquisition exclusively by explosives. Saline water and oil spills will require increased equipment maintenance. Portable rigs mounted upon flat-bottomed boats shall be employed

17. Terrain Type 4 17 TIOGE Presentation. September 2003 Slide 17 Terrain Type 4 – Sand Dune And Gravel Plain Characterised by flat gravel plain or sand dunes Buried pipelines exposed. Power cables close to surface in areas of sand deposition Acquisition exclusively by vibrators. Minimal bulldozing to protect fragile flora.

18. Satellite Map 18 TIOGE Presentation. September 2003 Slide 18 Satellite Map High resolution satellite map will be used to ensure that safe acquisition distances are maintained and potential hazards are identified. Well Heads BuildingsRoadsPipelinesTelegraph Poles 100m

19. Ray Tracing 19 TIOGE Presentation. September 2003 Slide 19 Ray Tracing Steeply dipping horizons at base of structure are sampled by far offsets only Survey definition is critical for imaging deeper horizons

20. Area Definition 20 TIOGE Presentation. September 2003 Slide 20 Survey Area Definition S S N N Increased length of 2D spread and receiver lines provides consistent imaging of deep horizons. 1997 3D survey edge is defined too close to southern limb of structure in SE corner.

21. Focus on pull- apart basin for Eastern margin Final Seismic Definition 21 TIOGE Presentation. September 2003 Slide 21 2003 3D Seismic Area Definition 2003 Seismic Survey Area. Survey boundary extended in North and South direction to successfully image steep dipping flanks of structure.

22. Exploration Targets 22 TIOGE Presentation. September 2003 Slide 22 Exploration Targets N S Amplitude anomalies truncated against major faults Large channels seen alongside flanks of structure. Faulting observed below Base Red horizon. Hydrocarbon potential from Top Red Series to Base Red Series.

23. Focus on pull- apart basin for Eastern margin Seismic Area Targets 23 TIOGE Presentation. September 2003 Slide 23 2003 3D Seismic - Targets 2003 Seismic Survey Area. Terminations against major bounding faults. Often expressed as amplitude anomalies Pull apart Basin Major Channel displays good potential Kum Dag Field

24. PSA Area II 24 TIOGE Presentation. September 2003 Slide 24 PSA And 2003 3D Seismic Area PSA Area 2003 Seismic Survey Area. Producing Fields.

25. Summary 25 TIOGE Presentation. September 2003 Slide 25 Summary A new 3D Seismic Survey will further examine the potential of the Nebit Dag PSA 4 distinct terrain types will be encountered during acquisition. Each terrain presents a unique challenge. Obstacles such as pipelines, installations, sabkha etc will present a challenge to both acquisition and maintaining high HSE standards. The survey area has been designed to produce optimal imaging of steeply dipping horizons located at the base of the strike slip structure. A range of exploration possibilities are anticipated from the final processed dataset. Total budget for the 2003 seismic survey (540km 2 ) is $4,000,000.