AAPG Annual Convention Exhibition New Orleans 13 April

AAPG Annual Convention & Exhibition New Orleans, 13 April 2010 DCENR Adelaide Road Dublin 2, Ireland 2007

Hatton Basin al si Ba ns g ne o Rockall Basin D s- ri r -E ne y Sl Porcupine Basin Goban Spur Basin Celtic Sea Basins

Exploration Licence Licensing Option Petroleum Lease Concession Map April 2010

ONSHORE IRELAND LICENSING 2010 Applications are invited for Licensing Options over the Northwest Carboniferous Basin and the Clare Basin. Applications may be submitted up to 12 noon on Friday, 11 th June 2010. Full details are available on www. pad. ie

Total exploration wells offshore Ireland: 128 (includes 41 WOI) Total appraisal wells: 27 Total development wells: 24 Exploration Wells (1970 – 2009)

DOOISH Gas / gas condensate Oil CORRIB CONNEMARA BANDON BALLYCOTTON SPANISH POINT HELVICK BURREN HOOK HEAD OLD HEAD SEVEN HEADS KINSALE HEAD Key Discoveries (1970 – 2009) SCHULL

North East Rockall Margin New Play Concept 2. 5 bboe Key Play: Permo-Trias / Middle Jurassic Source: Upper and Lower Jurassic Traps: Inversion/Tilted Faults Key Risk Reservoir prediction Slyne, Erris, and Donegal South East Rockall - Perched Basins Frontier Play 2. 5 bboe Key Play: Triassic and Middle Jurassic Source: Upper and Lower Jurassic Traps: Inversion/Tilted Faults Key Risk Model driven/unproven Play 1 bboe Key Play: Permo-Triassic Source: Carboniferous Traps: Inversion/Tilted Faults Key Risk Seal North Porcupine Frontier Play 2 bboe Key Play: Cretaceous & Middle. Jurassic Source: Upper Jurassic Traps: Inversion/Tilted Faults Key Risk Reservoir South Porcupine Frontier Play 1 bboe Key Play: Lower Cretaceous & Jurassic Source: Upper Jurassic Traps: Inversion/Tilted Faults Key Risk Model driven/unproven Recent Petroleum Systems and Resource Assessment Studies

LICENSING & FISCAL TERMS Features of 1992 terms Ø no state participation or royalties Ø 25 % corporation tax Ø generous write-off provisions Ø Frontier Exploration Licenses Features added in 2007 Ø 0 -15% RRT for profitable fields Ø 12 year minimum period for Frontier licences Ø confidentiality periods reduced to 4 years

DESPITE DEMONSTRATED PROSPECTIVITY AND FAVOURABLE TERMS 1. TOO FEW WELLS 2. PLAYS NOT BEING TESTED FAST ENOUGH 3. NEED TO BRING IN MORE EXPLORERS

DESPITE DEMONSTRATED PROSPECTIVITY AND FAVOURABLE TERMS 1. TOO FEW WELLS 2. PLAYS NOT BEING TESTED FAST ENOUGH 3. NEED TO BRING IN MORE EXPLORERS

DESPITE DEMONSTRATED PROSPECTIVITY AND FAVOURABLE TERMS 1. TOO FEW WELLS 2. PLAYS NOT BEING TESTED FAST ENOUGH 3. NEED TO BRING IN MORE EXPLORERS FEEDBACK ØMake it easier for smaller companies to enter ØHave less prescriptive work programmes ØGive more time to firm up drilling plans ØAcquire more data ØMake data more freely available…

MAJOR ATLANTIC IRELAND ROUND FOR 2011 PREVIEW in Sly Diverse reservoirs and trapping styles; numerous undrilled prospects with potential for giants A less onerous ‘front-end’ option-style authorisation will feature Enhanced opportunities for smaller exploration companies and contractors Easier access to data under consideration -E rris c Ro Highlights All areas WOI with proven petroleum systems to be included Round to cover Rockall, Porcupine, Slyne/Erris & Goban basins for first time Ba sin s as B ll ka ne Round planning at advanced stage Details to be announced shortly Closing date expected to be End Q 1, 2011 Porcupine Basin Goban Spur Basin

Key References Regional prospectivity assessments are available for the Atlantic Ireland basins, as follows • PAD/DCENR Special Publication 1/05 Petroleum Systems Digital Atlas for The Slyne, Erris and Donegal basins • PAD/DCENR Special Publication 3/06 Petroleum Systems Digital Atlas for the Rockall and Porcupine basins. For up-to-date information on the important commercial aspects of Irish E&P including the procedures and benefits of doing business in Ireland you are referred to • PAD/DCENR Special Publication 1/09 Commercial Handbook Details of these and other special publications are contained on www. pad. ie Several research studies have been sponsored in the area by the Petroleum Infrastructure Programme (PIP). Details are contained on www. pip. ie

Plate reconstruction of the North Atlantic shows a juxtaposition of the Rockall and Porcupine basins with the Orphan and Flemish Pass basins offshore Newfoundland. This gives fresh insights into the distribution of exploration plays, including depositional environments and reservoir prediction, between Atlantic Ireland the more mature petroleum provinces of eastern Canada. IS 08/05 – Kinematic Plate Reconstruction IS 09/06 – Proposed Integrated Deep Seismic

Data & Information SPATIAL DATA www. pad. ie INDUSTRY DATA www. pad. ie RESEARCH DATA www. pip. ie