Slide 1: Stalking the Prize, Capturing the Reward
Stalking the Prize Capturing the Reward
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation may contain "forward-looking statements" about our expectations, beliefs, plans, objectives, assumptions or future events or performance. These statements include, among others, statements regarding our future financial position, strategy, reserves, proje
Slide 3: Unique Deep Water Sea seep Technology
Unique Deep Water Sea seep Technology 300,000 km multi-beam program
Slide 4: Hydrocarbon seepage supports chemosynthetic communities on the seafloor
Hydrocarbon seepage supports chemosynthetic communities on the seafloor, which increases the backscatter. With high resolution multibeam, we can identify potential seep targets on the seafloor.
Slide 5: From the Seafloor and Geochemistry to the 3D and the Prospect
From the Seafloor and Geochemistry to the 3D and the Prospect…
Slide 6: Indonesian Portfolio
Indonesian Portfolio 20 Blocks within or adjacent to proven hydrocarbon basins 3rd Party “best estimate” of in-place volumes on first four blocks exceeds 13.4 billion boe Exxon, Marathon, Repsol, Statoil, Hess, ENI and GdF have farmed in on 11 blocks Greater than 20 high impact prospects ide
Slide 7: Indonesian Blocks
Natuna Sea a, “kelimantan ee Sumatera Sunda Strait} la Westsagen| ad} pp sagen =. Celebes Sea seoncas ee Molucca Sea "Bone Bay 20, Halmahera Sea Halhfaneraur Banda Sea LEGEND —? Wells Drilled 2011 [Ed Niko Operation Blocks [C_| Other Active PSCs PACIFIC OCEAN — Wurawasih Buys asin coy is Payiee v7)
Slide 8: Makassar Strait Portfolio
Makassar Strait Portfolio 3rd Party North Makassar Strait Prospective North Ganal Resource for: Jangkrik Northeast 1&2 Eni ExxonMobil Marathon SE Ganal-1 North Makassar Kaluku 1 Straight Jangkrik 1, 2 & 3 ConocoPhillips Statoil South Matindok SE Ganal West Sageri West Talisman Sageri Lempuk 1
Slide 9: West Papua Portfolio
West Papua Portfolio 3rd Party Prospective Resource for: Halmahera II Kofiau Cendrawasih Bay II Kofiau Obi Halmahera- Kofiau Salawati Oil Field Cendrawasih Bay III Tangguh Gas Field 17 TCF Cendrawasih East Bula Lengkuas 1 Murphy Cendrawasih Bay IV Seram Andalan 1 Hess West SE Seram Papua IV Kumawa
Slide 10: Indonesia
Indonesia 3rd Party Prospective Resource Reports on Four Blocks Best Estimate Recoverable (mmboe) Value/Share to Block Niko Share Niko If Midpoint $5.00/boe Risk Factor SE Ganal 2,890 2,890 $289.00 14% N. Makassar 407 122 $12.20 21% West Segari 549 549 $54.90 23% Kofiau 787 453 $45.30 17%
Slide 11: Trinidad
Trinidad 2.5 million NCMA 2 extremely prospective NCMA 3 acres Adjacent to infrastructure Block 2(ab) 2.5 trillion cubic feet already Block 4(b) discovered in M/G 5(c) Block Block 5(c) Guayaguayare
Slide 12: Rowan Gorilla III
Rovvan Gorilla Ill
Slide 13: Guayaguayare Oil Seep
Guayaguayare Oil Seep a : § Pe Ye < A
Slide 14: NCMA 2 & 3 Blocks
NCMA 2 & 3 Blocks NCMA streamer 3D joint survey with Centrica CENTRICA NCMA 2 NIKO NCMA 4 CENTRICA NCMA 3 NIKO Proposed 3D Survey Total Joint Survey 4,600 km² NIKO’S Portion 2,900 km² Survey commenced – Sept 6, 2011
Slide 15: Conceptual Development - Block 5c
Conceptual Development - Block 5c To Atlantic LNG Existing BG Dolphin Platform 24” Gas Pipeline to Dolphin Endeavour - 2 wells Bounty - 2 wells
Slide 16: D6 – Future Development
D6 – Future Development AK3 Oil Development 20 additional exploration Gas Development successes to develop Additional exploration prospects AR1 AW1 Potential for gas price BD1 increase BJ1 BJ2 BA1-A
Slide 17: NEC 25
NEC 25 BAY OF BENGAL 2.4 million acres 10% working interest 15 exploration 3D SEISMIC successes Many additional exploration prospects AJ10 AJ9 AJ11 AJ12 0 10 20 30 40 50 Kilometers
Slide 18: D4 Block
D4 Block 4.2 million acres 4400 km. of 2D and 3500 sq. km. of 3D seismic completed 3 well drilling program
Slide 19: Bangladesh
Bangladesh CHATTAK Current net production BLOCK 9 60 mmcf/d DHAKA FENI KOLKATA BAY OF BENGAL
Slide 20: Pakistan Blocks
Pakistan Blocks Over 2.4 million acres on 4 blocks 100% working interest 2000 sq. km. 3D seismic complete One of the world’s largest submarine fan systems
Slide 21: Grand Prix Block - Madagascar
Grand Prix Block - Madagascar 4.2 million acres 75% working interest Multi beam, sea bed coring and 3200 sq. km. 3D seismic complete
Slide 22: Qara Dagh Block - Kurdistan
Qara Dagh Block - Kurdistan 209,000 acres Operator with 49% interest Prospective recoverable resource of up to .7 billion Iraq Oil and Gas Fields bbls Oil KNOC Gas Westernzagros Oil and Gas
Slide 23: Average Production MMCFE
Average Production MMCFE 350 300 250 200 D6, 10% 150 All Other, India/Block 9 100 50 - F2009 F2010 F2011 F2012
Slide 24: Operating Cash Flow
Operating Cash Flow 400 300 $ (Millions) 200 D6, 10% All Other, India/Block 9 100 - F2009 F2010 F2011 F2012
Slide 25: Operating Cash Flow Sensitivities
Operating Cash Flow Sensitivities MM USD/Year F2012 per forecast $279 Increment if volume increases from 1.58 bcf/d to 71 2.10 bcf/d Increment if gas price increased from $4.20 mmbtu to 253 $8.00 mmbtu $603
Slide 26: F2012 – Projected Capital Spending
F2012 – Projected Capital Spending MM USD/Year Development Capital 30 Exploration Capital - Indonesia 50 - Trinidad 78 - All Other 32 $190
Slide 27: Financial Capability
Financial Capability As of June 30, 2011 $103 million Cash and no Debt
Slide 28: Conclusion
Conclusion 30 high impact exploration wells to be drilled