Coalinga S 2 S Solarthermal EOR Binyamin Koretz

Coalinga S 2 S: Solar-thermal EOR Binyamin Koretz Director, Strategic Planning & IP Proprietary & Confidential © 2012 Bright. Source Energy, Inc. All rights reserved. 1 © 2007 -2010 Bright. Source Energy, Inc. All rights reserved. 1

Coalinga Solar to Steam Project (S 2 S) Owner: Chevron Location: Coalinga, CA Purpose: Thermal Enhanced Oil Recovery Capacity: 29 MWth Solar field: 3, 822 heliostats, each 15 m 2 Bright. Source delivered fully operational project to Chevron in October 2011 § 1 -year performance test exceeded contractual goals § § § Proprietary & Confidential © 2012 Bright. Source Energy, Inc. All rights reserved. 2 © 2007 -2010 Bright. Source Energy, Inc. All rights reserved. 2

Coalinga S 2 S Proprietary & Confidential © 2012 Bright. Source Energy, Inc. All

Coalinga vs. future EOR plant Coalinga Commercial Plant 29 MWth 400 MWth Required mass flow of steam: 12 kg/s 143 -159 kg/s Required temperature of steam: 265 °C 290 °C Required pressure of steam: 68 bar 80 bar Required thermal power capacity: Steam quality Proprietary & Confidential © 2012 Bright. Source Energy, Inc. All rights reserved. 4 99. 5% or higher © 2007 -2010 Bright. Source Energy, Inc. All rights reserved. 4

Solar EOR – general scheme Proprietary & Confidential © 2012 Bright. Source Energy, Inc.

Coalinga S 2 S 1 -line diagram Proprietary & Confidential © 2012 Bright. Source

Construction 2009 -2010 Proprietary & Confidential © 2012 Bright. Source Energy, Inc. All rights

What happens when engineers make videos Proprietary & Confidential © 2012 Bright. Source Energy,

View from the south Proprietary & Confidential © 2012 Bright. Source Energy, Inc. All

Typical performance vs. modeling [MMBTU/h] [W/m 2] INSOLATION 120 Service power [MMBTU/h] 110 900 100 800 90 700 80 70 60 500 50 40 300 30 INSOLATION Service power 200 [W/m 2] 20 Hourly Model 10 1000 900 0 120 100 800 700 600 500 400 300 200 100 0 80 60 40 20 0 5: 00 6: 00 7: 00 8: 00 9: 00 10: 00 11: 00 12: 00 13: 00 14: 00 15: 00 16: 00 17: 00 18: 00 19: 00 20: 00 0 100 4: 30 5: 00 5: 30 6: 00 6: 30 7: 00 7: 30 8: 00 8: 30 9: 00 9: 30 10: 00 10: 30 11: 00 11: 30 12: 00 12: 30 13: 00 13: 30 14: 00 14: 30 15: 00 15: 30 16: 00 16: 30 17: 00 17: 30 18: 00 18: 30 19: 00 19: 30 20: 00 [MMBTU/h] 1000 Proprietary & Confidential © 2012 Bright. Source Energy, Inc. All rights reserved. 10 © 2007 -2010 Bright. Source Energy, Inc. All rights reserved. 10

And on more difficult days [MMBTU/h] [W/m 2] 120 INSOLATION Service power [MMBTU/h] 110 900 100 800 90 700 80 70 60 500 50 40 300 30 Service power 120 Hourly Model 1000 900 800 700 600 500 400 300 200 100 80 60 40 20 Proprietary & Confidential © 2012 Bright. Source Energy, Inc. All rights reserved. 0 0 19: 00 17: 00 15: 00 13: 00 11: 00 9: 00 7: 00 5: 00 0 10 4: 00 4: 30 5: 00 5: 30 6: 00 6: 30 7: 00 7: 30 8: 00 8: 30 9: 00 9: 30 10: 00 10: 30 11: 00 11: 30 12: 00 12: 30 13: 00 13: 30 14: 00 14: 30 15: 00 15: 30 16: 00 16: 30 17: 00 17: 30 18: 00 18: 30 19: 00 19: 30 20: 00 INSOLATION 11 200 [W/m 2] 20 [MMBTU/h] 1000 © 2007 -2010 Bright. Source Energy, Inc. All rights reserved. 11

Potential market § Chart Source: CERA estimate of cumulative solar thermal penetration in thermal enhanced oil recovery market by 2020 Proprietary & Confidential © 2012 Bright. Source Energy, Inc. All rights reserved. 12 © 2007 -2010 Bright. Source Energy, Inc. All rights reserved. 12