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 SIXTH AMENDMENT TO


PRODUCTION SHARING CONTRACT


BETWEEN


THE REPUBLIC OF EQUATORIAL GUINEA


AND


MOBIL EQUATORIAL GUINEA INC.


AND


UMC EQUATORIAL GUINEA CORPORATION


(AREA B - OFFSHORE NW BIOCO)








This Sixth Amendment (hereinafter referred to as this “Amendment”) made and entered into as


of the \SkRday of June, 1997, by and between The Republic of Equatorial Guinea (hereinafter


referred to as the “State”), represented for the purposes of this Amendment by the Ministry of


Mines and Energy of the State (hereinafter referred to as the “Ministry”), and Mobil Equatorial


Guinea Inc., a corporation organized and existing under the laws of the State of Delaware, U.S.A,


(hereinafter referred to as “Mobil”) represented for the purposes of this Amendment by Arthur J.


Green, its President, and UMC Equatorial Guinea Corporation, a corporation organized and


existing under the laws of the State of Delaware, U.S.A, (hereinafter referred to as “UMC”),


represented for the purposes of this Amendment by Jim E. Smitherman, its President.





WITNESSETH


A. WHEREAS, The State and United Meridian International Corporation (“UMIC”) entered


into that certain Production Sharing Contract dated the 29th day of June, 1992


(hereinafter referred to as the “Contract”), but having an Effective Date of July 8, 1992,


covering the area described therein which is referred to as Area B - Offshore NW Bioco;


and








B. WHEREAS, by that certain Assignment made and entered into the 21st day of October,


1992, UMIC assigned DuPont E&P No. 21 B.V. (“DuPont”) an undivided seventy-five


percent (75%) of all the right, title, interest and obligations under the Contract, and said


Assignment was approved by the Ministry on 29 October 1992; and

















1


WHEREAS, that certain First Amendment To Production Sharing Contract was made


and entered into the 15th day of December 1992 by and between the State, represented by


the Ministry, UMIC and DuPont; and


WHEREAS, by that certain Assignment (Area B) made and entered into the 14th day of


December, 1992, DuPont assigned an undivided twenty-five percent (25%) interest in and


under the Contract, as amended, to each of Clyde Charter Company Limited to be


renamed BP Exploration (Equatorial Guinea) Limited (“BP”) and Den Norske Stats


Oljcselskap a.s. (“Statoil”) and said Assignment was approved by the Ministry on 23


December 1992; and.


WHEREAS, by that certain Assignment dated the 25th day of June, 1993 DuPont


assigned to UMIC all of its rights, titles, interests and obligations under the Contract, as


amended, and the Ministry consented to such Assignment on September 9, 1993; and


WHEREAS, by letter dated July 6, 1993, UMIC elected to proceed into the Second


Subperiod and has paid the bonus to proceed into the Second Subperiod in accordance


with Section 9.2 of the Contract, as amended, and has paid the rentals due in accordance


with Section 9.5 of the Contract, as amended, and by letter dated July 8, 1993, the


Ministry authorized UMIC to proceed into the Second Subperiod; and


•r


WHEREAS, that certain Second Amendment To Production Sharing Contract was


entered into on the 17th day of September, 1993 by and between the State, represented by


the Ministry, and UMIC; and


WHEREAS, by that certain Assignment made and entered into the 15th day of October,


1993, UMIC assigned one hundred percent (100%) of the right, title and interest under


the Contract, as amended, to UMC and said Assignment was approved by the Ministry on


the 15th day of October, 1993; and





WHEREAS, that certain Third Amendment To Production Sharing Contract was entered


into on the 1st day of March, 1994, by and between the State, represented by the Ministry,


and UMC; and


J. WHEREAS, by that certain Assignment dated the 28th day of March, 1994, BP assigned


to UMIC all of its rights, titles, interests and obligations under the Contract and the


Ministry consented to such Assignment; and


K. WHEREAS, by that certain Assignment dated the 30th day of March, 1994, Statoil


assigned to UMIC all of its rights, titles, interests and obligations under the Contract and


the Ministry consented to such Assignment; and


L. WHEREAS, by that certain Assignment dated the 7th day of April, 1994, UMIC


assigned to UMC all of its rights, titles, interests and obligations under the Contract and


the Ministry consented to such Assignment; and


M. WHEREAS, by that certain Area B Deed of Assignment dated the 26th day of April,


1994, UMC assigned to Mobil an undivided sixty-five percent (65%) of the rights, titles,


interests and obligations under the Contract, and the Ministry consented to such


Assignment on May 10,1994; and





N. WHEREAS, the State, Mobil and UMC entered into that certain Fourth Amendment To


Production Sharing Contract (Area B - Offshore NW Bioco) dated as of the 29th day of


June, 1994; and





O. WHEREAS, by that certain Deed of Assignment dated the 20th day of October, 1995,


UMC assigned to Mobil an undivided ten percent (10%) of the rights, titles, interests and


obligations under the Contract, and the Ministry consented to such Assignment on 24th


day of October 1994; and


P. WHEREAS, the State, Mobil and UMC entered into that certain Fifth Amendment To


Production Sharing Contract (Area B-Offshore NW Bioco) dated as of the 25th day of


January, 1996; (the “Fifth Amendment”) and


Q. WHEREAS, the State, represented by the Ministry, Mobil and UMC have agreed that


certain amendments to the Contract, as amended, hereinafter set forth should be made for


the benefit of all Parties.














3


NOW, THEREFORE, in consideration of the premises and the mutual benefits to the Parties


hereto, the State, Mobil and UMC agree as follows:


1. Words or phrases defined in the Contract, as amended, and used in this


Amendment shall have the meanings set forth in the Contract, as amended,


unless the context otherwise provides.


2 Section 1.2 (am) is deleted and the following language is inserted in place


thereof:


“(am) Initial Exploration Period means the period commencing on the Effective


Date of the Contract and ending at midnight local time, Malabo, Republic of


Equatorial Guinea on 31 December 2002 or such later date as such period may be


extended to pursuant to section 2.1 (C).”


3. The following new subsection (as), (at), (au) and (av) are added to Section 1.2


Definitions:


“(as) Supplemental Petroleum Allowance means three point two five


percent (3.25%) of the sales proceeds of the Crude Oil lifted and sold from


the Contract Area and not otherwise utilized in Operations.


(at) Project or Projects means construction or improvement of


infrastructure or public works facilities for the social welfare and benefit


of the people of the State”.


(au) Mobil means Mobil Equatorial Guinea, Inc., a Delaware USA


Corporation.


(av) UMC means UMC Equatorial Guinea Corporation, a Delaware USA


Corporation.”


4 The last sentence of Section 2.1 (a), as amended by the Fifth Amendment, is


deleted and the following sentence is inserted in place thereof:


4


“The third Subperiod shall have a term commencing with the termination


of the Second Subperiod and ending on December 31,2002, and shall be


called the ‘Third Subperiod’.”


Section 3.1, as amended by the Fifth Amendment, is deleted and the following


language is inserted in place thereof:


“3.1 Subject to Section 3.3, on or before December 31, 2002, the


Contractor shall surrender forty percent (40%) of the original Contract


Area.


Section 7.2, as amended by the Fifth Amendment is further amended by deleting


the entire section in the original PSC and adding the following after the language


of Section 7.2 contained in the Fifth Amendment:


“7.2 Beginning January 1, 1997, the State shall be entitled to and the


Contractor shall pay to the State the Supplemental Petroleum Allowance


until such time as the total amount of such payments to the State equals


thirty million United States Dollars (US$30,000,000), at which time the


Supplemental Petroleum Allowance shall terminate. The Supplemental


Petroleum Allowance shall be included in Petroleum Operations Costs for


the purposes of cost recovery. After making Royalty payments to the


State, the Contractor shall be entitled to recover all Petroleum Operations


Costs out of the sales proceeds or other disposition of Hydrocarbons


produced and saved hereunder and not used in Petroleum Operations. Any


Hydrocarbons remaining after making the Royalty payments to the State


and after all Petroleum Operations Costs are recovered by the Contractor


shall be referred to hereinafter as “Net Hydrocarbons”. Net Hydrocarbons


shall be shared between the State and the contractor in accordance with the


procedures outlined below which are designed to ensure total cost recovery


by the Contractor of all Petroleum Operations Costs, followed by an


escalation of the State’s share based on increases in the Contractor’s pre-


tax rate of return, as set forth in the following tables:


(a) With respect to wellheads located in any water depth where


production is from a reservoir all of which is located less than four


thousand (4,000) meters below sea level:





Contractor’s





Pre - Tax State’s Share of Contractor’s Share of


Rate of Return (Net Hydrocarbons') (Net Hydrocarbons)


up to 30% 0% 100%





Greater than 30%


up to 40% 20% 80%


Greater than 40%


up to 50% 40% 60%





Greater than 50% 60% 40%





(b) With respect to wellheads located in water depths of less than two


hundred (200) meters where production is from a reservoir of which all or


a portion thereof is located four thousand (4,000) meters or more below


sea level:





Contractor’s











Pre - Tax State’s Share of Contractor’s Share of


Rate of Return (Net Hydrocarbons) (Net Hydrocarbons)


up to 30% 0% 100%


Greater than 30% 20% 80%


up to 40%


Greater than 40% 40% 60%


up to 50%


Greater than 50% 70% 30%”








(c) With respect to wellheads located in water depths of more


than two hundred (200) meters where production is from a reservoir


of which all or a portion thereof is located four thousand (4,000) meters


or more below sea level:








6


 Contractor’s





Pre - Tax State’s Share of Contractor’s Share of


Rate of Return _____ (Net Hydrocarbons) (Net Hydrocarbons)


up to 30% 0% 100%


Greater than 30% 20% 80%


up to 40%


Greater than 40% 40% 60%


up to 50%


Greater than 50% 60% 40%”





7. Subsections 7.4.1 (c) and (d) are amended as follows:


In Subsection 7.4.1(c), delete the reference to “25%” and replace it with “20%”.


il


Subsection 7.4.1(d) shall be deleted and the following shall be added in its place:


“(d) For purposes of applying the formula set forth in subsection (a) of this section


7.4.1, in the first Calendar Year Petroleum Operations Costs are incurred


FSA(Y-l) shall be equal to zero and in any Calendar year immediately


subsequent to a Calendar Year in which FSA(Y) is positive, FSA(Y-l) shall be


equal to zero.”


8. Subsections 7.4.2(c) and (d) are amended as follows:


In Subsection 7.4.2(c), delete the reference to “46.6666%” and replace it with “25%”.


6


Subsection 7.4.2(d) is deleted in its entirety and the following shall be added into is place:


“(d) For purposes of applying the formula set forth in subsection (a) of Section 7.4.2,


in the first Calendar Year Petroleum Operations Costs are incurred SSA(Y-l)


shall /}





-


be equal to zero and in any Calendar Year immediately subsequent to a Calendar


Year in which SSA(Y) is positive, SSA(Y-l) shall be equal to zero.”


9. Subsections 7.4.3(c) and (d) are amended as follows:





In Subsection 7.4.3(c), delete the first reference to “50%” at the end of the 21st line of the


English version and replace it with “33.3333%”.


Subsection 7.4.3(d) is deleted in its entirety and the following shall be added in its


place:





“(d) For purposes of applying the formula set forth in Subsection (a) of this Section


7.4.3, in the first Calendar Year Petroleum Operations Costs are incurred


TSA(Y-l) shall be equal to zero and in any Calendar Year immediately


subsequent to a Calendar Year in which TSA(Y) is positive, TSA(Y-l) shall be


equal to zero.”


10. Section 9.10 shall be added as follows:





9.10 “Beginning in Calendar Year 1997, Contractor shall make available on behalf of


the State up to a total of thirty million United States Dollars (US$30,000,000), but


not to exceed fifteen million United States Dollars (US$15,000,000) in any


Calendar Year, for the funding of Projects. Contractor shall have no obligation to


provide funds for Projects beyond the amounts set forth in the preceding sentence,


even if additional funds are required to complete the construction thereof. In such


a case as the preceding sentence, State and Contractor shall meet to discuss the


situation and, depending on the importance of the unfinished Project, attempt to


find a mechanism to complete such a Project. The State (represented by the


Ministry), Mobil and UMC shall establish a management committee (the


“Management Committee”) which shall have as its purpose and objectives


choosing Projects to be funded hereunder, negotiating contracts with one or more


third parties to manage Projects on behalf of the State (each a “Project Manager”),


overseeing Project Manager and approving plans and budgets. The Management


Committee shall consist of three (3) members, one (1) each from Mobil and


UMC, respectively and one from the State. Each member may also appoint an


alternate who may attend meetings and act in the absence of a member. The State





8


member shall be Chairman of the Management Committee. All decisions of the


Management Committee shall be by unanimous vote. All financial and budgetary


' decisions related to Projects are the responsibility of the Management Committee


which may establish procedures and rules for the handling of budgets, plans and


contracts. Projects may be constructed at any time; however, no new Projects will


be approved for construction after January 1, 2000. All amounts dedicated to be


paid on behalf of the State under the terms of this Section 9.10 shall be held by


Contractor and paid directly to Project Manager and third parties supplying


materials, equipment, goods and services for the construction of the Projects. The


Management Committee members and members of their family will not have any


monetary interest in Projects, Project Manager, third party contractors or


suppliers. Members will serve without payment of compensation, except for


reasonable and necessary travel^ expenses incidental to attend meetings of the


Committee. The Management Committee may not engage in any other business,


except as described herein, and will have no authority to sign contracts in its own


name but may negotiate and approve contracts for signature by the appropriate


authorized representative of the State. Upon completion of construction of any


Project, the ownership and all obligations of ownership, including but not limited


to operation, maintenance and enforcement of any contract right shall vest in the


State. All amounts paid by Contractor under this Section 9.10 shall be considered


Petroleum Operations Costs for purposes of the Contract. In the event gross


revenue generated under the Contract from the sales of Crude Oil for any


Calendar Month declines below eighteen million United States dollars


(US$18,000,000), Contractor shall have the right, exercisable in its sole


discretion, to suspend the start of construction on any new Project. Such


suspension, if invoked by Contractor, shall remain in effect until such time as the


gross revenue generated under the Contract from the sales of Crude Oil for a


Calendar Quarter exceeds fifty-four million United States dollars


(US$54,000,000).


11. Exhibit C, the Accounting Procedure, Subsection 2(h) as previously amended, shall be


amended by deleting the words “...and 9.9...” in the second line and replacing it with the


following:








9.9 and 9.10...”











9


12. In consideration of the premises and of the mutual covenants and agreements contained in


this Amendment, the State, Ministry and Contractor hereby ratify the Contract, as


amended, and hereby confirm that it is in full force and effect as of the date set out in


Preamble Clause A to this Amendment.








13. Except as amended by this Amendment and the other amendments described above, the


Contract, as amended, shall remain in full force and effect as originally written.











IN WITNESS WHEREOF, the Parties hereto have executed this Amendment in three (3)


originals in the English and Spanish languages, as of the day and year first above written.











AND ENERGY OF


THE "REPUBLIC OF


EQUATORIAL GUINEA











MOBIL EQUATORIAL GUINEA INC.











By:


UMC EQUATORIAL GUINEA


CORPORATION

















a:\6amen65.doc


6/9/97


























10


 Mobil Africa & Middle East Limited








T«M>»wo»0171











T.ELEFACS1.MILE TRANSMISSION











TO: JIM SMITHERMAN FAX: 001 713 653 5009


UMC














cc: SKIP MARYAN FAX: 001 703 846 4672


MOC


FROM: A.J. GREEN





FAX: 44 171 412 2529 . TEL: 44 171 412 4008


DATE: Monday, 21 April 1997 PAGES: 10 (Inc. Cover Sheet)











cc: John Brock Joe Bruso


Jim Dunlap Steve Rose


Jon Clarkson Jack McFarland


John Patton


Jeanne Buchanan


Chris Cragg


Mark Mazzolini


Kevin McMillan























IMPORTANT NOTICE





This facsimile is confidential and may be covered by legal professional privilege. It must not be read,


copied,disclosed or used by any person other than the abuse named addressee. Unauthorised use,


disclosure or copying is strictly prohibited and may be unlawful If you have received this facsimile in


error, please contact us immediately on the above number.


 April 21, 1997


London





Jim Smitherman


UMC Equatorial Guinea Corporation


Houston Texas


Fax 713-653-5009











MME negotiations


regarding Revenue


Acceleration


Dear Jim,





/Xttached is an English and a Spanish copy of the Memorandum of Understanding we


reached with Minister Olo, Secretary of State Miguel Abia and representatives from





Quad Engineering in our London meetings which concluded this Saturday. This


complies with the Terms of Reference we discussed over the last few weeks..


You will also note we included a further extension of the relinquishment date until


2002.





Skip Maryan in Mobil’s Fairfax office will be preparing the formal PSC amendment to


cover these changes and will be in contact with John Patton.





Please call if you wish to discuss. I am in the London office today and can be reached


at 44-171-412-4699. I will be travelling tomorrow and will be in Malabo on


Wednesday.




















cc Skip Maryan - Fairfax


BM fax 8-466-4672


 MEMORANDUM OF UNDERSTANDING











This Memorandum of Understanding (“MOD") dated as of April /ff. 1997, is


executed by and between Mobil Equatorial Guinea Inc. (“Mobil') and The Republic








of Equatorial Guinea (the “State"), represented for purposes of this MOU by the


Ministry of Mines and Energy of The Republic of Equatorial Guinea (the '•Ministry”).


The purpose of this MOU is to document the general understanding reached


between Mobil and the Ministry as to provisions to be incorporated into future


documents between the State, Mobil and UMC Equatorial Guinea Corporation


(“UMC EG’). Mobil and UMC EG shall hereafter together be referred to as


“Contractor". This MOU is intended to be merely an expression of understanding


between Mobil and the Ministry and is not intended to be a binding and enforceable


document, which binding and enforceable document will only be created after


Contractor and the State negotiate and execute a formal Sixth Amendment (as


described below) and other documents. Prior to executing the Sixth Amendment


and any other documents, Mobil an^UMC EG will need to obtain the approval of


their respective senior managements


In particular, this MOU describes the general terms and provisions to be


incorporated into a future Sixth Amendment (the “Sixth Amendment") to that certain


Production Sharing Contract originally executed by the State and United Meridian


International Corporation (Area B - Offshore Bioco) dated June 29, 1992, as


amended, (the“PSC").


This MOU also addresses two tax related issues that, although they will not be


incorporated into the Sixth Amendment, these issueswill be addressed in either


future laws or documents, as may be agreed to by the State and Contractor.


A. Sixth Amendment Issues





For the purposes of this MOU, the parties agree in principle that the following


provisions will be incorporated into a Sixth Amendment to be executed by the State


and Contractor:





1. Production Allowance. Commencing January 1, 1997, the State shall receive a


temporary, supplemental petroleum allowance of 3.25% of total production, until the


State receives a total of $30 Million, at which time this supplemental allowance will


terminate. This amount shall be cost recoverable and allowable to Contractor as a


deduction from its taxable income.





2. Infrastructure Contribution. As and from January 1, 1997, Contractor shall pay


the sum of $30 Million toward infrastructure improvements in the State (but no more


than $15 Million in actual expenditures for each calendar year). The State and


Contractor will form a ‘Management Committee’ for the purpose of choosing the


infrastructure improvements to be made in the State and choosing and overseeing a


third party construction management company to manage the construction of the


infrastructure improvements. The Management Committee will be under the


chairmanship of the Ministry, but will make its decisions based on a unanimous vote


of both Contractor and the Ministry. The Management Committee shall enter into a


management agreement with the construction management company expressly


stating that all financial and budgetary decisions are the responsibility of the


Management Committee. Although the construction management company will hire


contractors and buy materials for the infrastructure projects, the Contractor will


make payments directly to contractors.


Upon completion of any projects, the ownership, and all obligations of ownership,


including, but not limited to, the operation and maintenance of the projects, will be


turned over to the State. The amounts paid by Contractor shall be cost recoverable


and allowable to Contractor as a deduction from its taxable income. The payment


amounts for the infrastructure improvements shall be treated as intangible capital


costs for the purposes of calculating income taxes (ie. written off for income tax in


the year costs are incurred).


The third party management contract will provide that Contractor shall have the right


and option to suspend the start of work on new infrastructure improvements if gross


revenue during any 30 day period from Block B drops below $18 Million, until


revenue increases over such threshold for at least three consecutive 30-day periods


thereafter.





3- Extension of Relinquishment Period. The State shall extend Contractors


relinquishment period, as described in Section 3 of the PSC, to December 31, 2002.


The extension provisions will include similar language to the extension granted in


the Fifth Amendment to the PSC requiring additional minimum exploration work


obligations.


4. Adjustment to Profit Share Percentages. The parties shall revise the State’s


share of hydrocarbons for reservoir depths less than 4000 meters, regardless of the


water depth, to the following percentages:





Rate of Return State Share





30% to 40% 20





40% to 50% 40


>50% 60





5. State’s Share of Hydrocarbons. The parties shall clarify that in the first year in


which share account(s) go positive, profit will be split between Contractor and the


State on a partial year basis to ensure that Contractor gets 30% pre-tax rate of


return on investment.


6. Calculation of Cost Recovery. The parties shall clarify their understanding of the


calculation of cost recovery for the purpose of determining Contractor’s net


hydrocarbons to ensure that cost recovery is allowed in the year costs are incurnsd.


 B. Tax Issues





For the purposes of this MOU, the parties agree in principle that the following


provisions will be addressed in either future documents, or future laws, to the mutual


satisfaction of both the State and Contractor:


1. Discharge of Contractor's and Subcontractors’ Tax Obligations, The parties shall


clarify the State’s agreement that the contractors and subcontractors of Contractor


have no obligation to pay Impuesto Sobre Cifra de Negocio Interior, or any other tax


imposed on transactions that may be adopted in the future and that would otherwise


be imposed on transactions, which relate directly or indirectly to the conduct of


petroleum operations.


2. Tax Loss Carry-Forward. The State shall expressly allow that losses incurred for


income tax purposes during a calendar year may be carried forward to offset taxable


income in subsequent calendar years until such losses have been completely


utilized. ,.


The State and Mobil have executed this MOU as of the date described above.








The Minister of Mines and Energy of Mobil Equatorial Guinea Inc.


The Republic of Equatorial Guinea


1998 Equatorial Guinea Project Planning











Block D North 3D Interpretation Project


Manpower


2 geophysicist, 1 geologist, 1/3 System Administrator, 1/2 geotech


Ho Baik (project Manager 1/3)


Kirk Geno (consulting geologist !4 ), D.S. Choi ( Yukong geologist !4)


Bon Wiener ( consulting geophysicist l/2), M.H. Lee (Yukong


Geophysicist ’A), Michael Cline (consulting geophysicist 14)


New Geophysicist (new hire- 1/2)


Tracy Clark (System Administrator 1/3), Chigozie Nwokeafor ( geotech-


1/2)


Tasks (1st Quarter)


• Load Block D North and Perenco 3D data, Load key well log curves


• Establish reliable seismic-well ties ( generate synthetic traces for all wells in the


block)


• Generate drillable prospects - Isongo, Qua Iboe and D-l sands


1) Depth Structural Maps and key Horizon slices using post stack


migrated data set ..


2) Establish a depth conversion method for Block D


3) Amplitude and AVO analysis with 2D seismic modeling


4) Propose well locations and site survey recommendation


• Generate structural and stratigraphic cross sections using key wells


• Establish chronostratigraphy and refine biostratigraphic correlation for Equatorial


Guinea (Seismic mappable horizons and inter-regional markers need to be consistent


with biostratigraphic markers)


• Quality Contol: Reevaluate velocity analysis for the Pre-Stack time migration (the


data set will be delivered around mid-February )


• Interpret Perenco’s 3D data in the vicinity of Tsavarita area and propose Tsavarita-3


development location


• Generate Isongo toe-thrust and Isongo slope channel/basin floor fan prospects and


utilize Mobil’s structural reconstruction work for Block B


• Produce prospect montages for key prospects for 1998 drilling


• Prepare farm-out data package and presentation


Block C 2D Interpretation Project


Manpower:


1 geophysicist, 14 geologist, 1/3 System Administrator, 1/3 Geotech.


Ho Baik ( Project Manager-1/3)


Kirk Geno ( Geologist -1/3)


D.S. Choi ( Geologist - Vi)


Bob Wiener ( Consulting Geophysicist - 14)


New Geophysicist (new hire - 14)


Tracy Clark ( System Administrator- 1/3), Chigozie Nwokeafor ( Geotech-1/3)


Tasks (1st and 2nd Quarters ) .


Block C West


• Detailed prospect mapping for main Isongo and Qua Iboe Prospects


( south of Diamonte complex area )


1) Depth structure map


2) Amplitude Map •


3) Propose well locations and design site survey areas


4) 2d seismic modeling using GX technology ray tracing software


• Update Isongo and Qua Iboe Play and Reservoir Fairway .Maps - TGS 2D spec, data


and Exxon’s OPL 222 and 223 evaluation


• Produce prospect montages for key prospects for 1998 drilling


Block C East


• Detailed prospect mapping for Isongo basin floor and channel prospects


1) Depth structure maps at base Qua Iboe, Top Isongo, and Massive Isongo


2) Amplitude maps


3) Build 2D seismic stratigraphic models to support the presence of reservoir


facies with hydrocarbon


• Regional chrono/lithstratigraphic cross sections


• Produce prospect montages for key prospects for 1998 drilling


Block A Interpretation Project


Manpower


*/2 Geologist, !4 Geophysicist


Ho Baik (Project Manager-1/4)


Kirk Geno (Interpreter- 1/3)


Tasks ( 1st Quarter)


• Remap 5 Prospects (A,B,C,D, and Platino )


1) Depth structural map- D-l. Intra Qua Iboe, and Isongo levels


2) Sequence stratigraphic analysis and Seismic attributes


• Petrophysical Analysis for Dorado-1 well


• Prepare prospect montage for Prospect A with pre-stack depth migration -Spectrum


• Regional stratigraphic cross sections including wells in the Isongo Field in Cameroon


• Source rock richness analysis and maturation study


• Regional play and sand fairway map


---J*r •


Block B 3D/2D Interpretation Project





Manpower


1 Geophysicist, 1/3 Geologist, 1/3 System Administrator, 1/3 Geotech











Ho Baik ( Project Manager %)


Michael Cline ( consulting geophysicist- 1/2)


Steve Knapp ( Geophysicist- A)


Kirk Geno ( geologist- 1/3)


Tracy dark ( system Administrator-1/3)


Chigozie Nwokeafor ( geotech-1/3)








Tasks (1st and 2nd Quarters)


• Propose UMC’s well locations for all 1998 budgeted exploration wells


• Recommend strong prospects in the western side of Block B to Mobil’s management


for 1998 drilling (Belliro, Azurita Canyon and QII prospects.)


• Map updip trap for the basal Massive Qua Iboe sand- Turquesa and QIT sands


• Provide technical expertise in AVO and Amplitude analyses technique to Block C &


D team


• Map key inter-regional markers ( IQIQ, B/Qua Iboe, T/Isongo, Offlap break-shelf


margin ) in the eastern side of Block B and western portion of Block D


• Develop and map major deep-seated Isongo toe-thrust trend