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HKN, Inc. Main Pass 35 Plaquemines Parish, La SL 1961 #11 – F PrBP Project Description The #68 well produced 1.1 Bcf from the F reservoir, but volumetrics indicates that the reservoir should contain an additional 1.7 Bcf. This recompletion is in a well developed portion of the reservoir and should improve the recovery. Reserve Category – Probable Behind Pipe Located in the same reservoir but away from the #68 well. Classified as Proabable due to risk of depletion. Reserves – 800 MMcf Assigned based on volumetrics of the reservoir assuming a 60% recovery and analogy to the SL 1961 #68 well. Investment $250K – recompletion


MAIN PASS 35 PLAQUEMINES,LA

10000

Water (bbl/mon)

Gas (Mcf/mon) Oil (bbl/mon)

SL 1961 11 XPLOR ENERGY OPERA F Sand

100

100 100

1000 1000

1000

10 10

10

80

84

Gas Rem: 800.00 MMcf Gas EUR: 800.00 MMcf

88

92

96

00

04

08

12

16

20

24

28

Oil Rem: 0.00 Mbbl Oil EUR: 0.00 Mbbl


Date :

5/19/2008

Partner :

11:47:10AM GEM

ECONOMIC PROJECTION

Reserve Cat. : Location:

Probable Behind Pipe

Archive Set :

NS0107

0.00 0.00 0.00

Est. Cum Oil Mbbl : Est. Cum Gas (MMcf) : Est. Cum Water (Mbbl) : Year

Rem. Total Ult.

Oil Gross (Mbbl)

Case : SL 1961 11 - F Type : RECOMPLETION CASE Field : MAIN PASS 35 Operator : XPLOR ENERGY OPERA Reservoir : F Sand Co., State : PLAQUEMINES, LA

Main Pass 35 Study - April 2008 SL 1961 11 Discount Rate : 10.00 As of : 5/1/2008

Gas Gross (MMcf)

Gas Net (MMcf)

Oil Net (Mbbl)

Oil Price ($/bbl)

Gas Price ($/Mcf)

Oil & Gas Rev. Net (M$)

Misc. Rev. Net (M$)

Costs Net (M$)

Taxes Net (M$)

Invest. Net (M$)

NonDisc. CF Annual (M$)

Cum Disc.CF (M$)

2008 2009 2010 2011 2012

0.00 0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00 0.00

2013 2014 2015 2016 2017

0.00 0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00 85.51

0.00 0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00 57.64

0.00 0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00 10.12

0.00 0.00 0.00 0.00 583.46

0.00 0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00 14.49

0.00 0.00 0.00 0.00 26.28

0.00 0.00 0.00 0.00 225.00

0.00 0.00 0.00 0.00 317.70

0.00 0.00 0.00 0.00 127.15

2018 2019 2020 2021 2022

0.00 0.00 0.00 0.00 0.00

183.48 153.27 128.36 106.91 89.31

0.00 0.00 0.00 0.00 0.00

123.68 103.32 86.53 72.07 60.20

0.00 0.00 0.00 0.00 0.00

10.12 10.12 10.12 10.12 10.12

1,251.95 1,045.85 875.86 729.48 609.39

0.00 0.00 0.00 0.00 0.00

35.46 35.46 35.46 35.46 35.46

56.38 47.10 39.44 32.85 27.44

0.00 0.00 0.00 0.00 0.00

1,160.12 963.29 800.96 661.18 546.49

568.01 900.83 1,152.39 1,341.16 1,483.01

15.4

0.00 0.00 0.00

53.17 800.00 800.00

0.00 0.00

35.85 539.29

0.00 0.00

10.12 10.12

362.84 5,458.84

0.00 0.00

24.29 216.06

16.34 245.84

0.00 225.00

322.21 4,771.94

77.08 1,560.09

Major Phase : Initial Rate : Abandonment : Initial Decline : Initial Ratio : Abandon Ratio : Abandon Day :

Gas

TRC Standard Eco Alt3.rpt

18,000 mcf/month 6,000 mcf/month 16.473 %/year 0.000 bbl/mcf 0.000 bbl/mcf 9/10/2023

b = 0.000

Eco. Indicators Return on Investment (disc) : Return on Investment (undisc) : Years to Payout : Internal Rate of Return (%):

Working Interest : Revenue Interest : Rev. Date :

Initial 1st Rev. 0.90000000 0.00000000 0.71714750 0.00000000

17.759 22.209 9.43 600.00 2nd Rev. 0.00000000 0.00000000

Present Worth Profile (M$) PW 5.00% : PW 8.00% : PW 10.00% : PW 12.00% : PW 15.00% :

2,684.35 1,931.18 1,560.09 1,266.21 933.61

PW 20.00% : PW 30.00% : PW 40.00% : PW 50.00% : PW 60.00% :

573.62 232.08 101.62 47.55 23.54 1


15

22

19

12 20

27A

24

36

44

27

42 44SL

34 31

9 10

14

6

4

2

14

13

11

1 3

29

51

18

16

1

52 41

46 40

45

49

48 1

37

47

6’(60%)

44

15

7’(47%)

13

11

23 8’(33%)

22

35 71

47S

51

60

2

46

72

73

50

53 19

70

3

6

12

5

14 17

58

56

24 8 54A

54

61

64D

63

59

52

62

36

76

69

55 57

68

18 67

10

1

16

2 mbo 1929 MMcf 187 mbw F Res.

4

9

45

65

21

32

66 25 20 39

20ST

78

7 81 27

41

29A

30

75

CREST Engineering Services, Inc. 28 29

26ST

MAIN PASS 35

26

Offshore Lousiana 38 31

F Sand Production

40

Active Producer Shut In Producer 33

77

Injector

34

500 1

43

0

500

1000


Input: Calculated:

RyVOL

Ryder Scott Reservoir Solutions

Gas Reservoir Volumetric Analysis (Protected)

Field: County/Parish: State/Country:

Main Pass 35 Plaquemines LA

Reservoir: Wells:

F Sand #68

Accumulation:

Non-Associated Gas

(Public)

Date: Operator: Lease:

Geol/Engr: XPLOR SL 1961

Fault Block: Penetrations:

Avg. Depth, Ft

5,930

(ss)

Limiting Contact, Ft

5,944

(lkg)

Reservoir & Fluid Parameters Avg. Porosity, φ (%) Avg. Sw (%) Res. Temp. (°F) Res. Press. (psia) Sep. Gas Grav. (Air=1) Cond. Grav. (°API) Cond. Yield (B/MM)

35.10% 21.00% 136. 2,669 0.65 35. 0.1

14.73 60

Data Source #10 core data calculated from #68 log calc based on 156F at 7670' (#65 log)

Check, if °R

N2: CO2: H2S:

Main Press. Base, psia: Temp. Base, °F:

Mole % 0.00 0.00 0.00

Estimated Estimated no production reported

Calculated Gas Properties (May be entered) Wet Gas Gravity (Air=1) Tc (°R) Pc (psia)

0.6504 374.08 670.89

OGIP, Wet (Mcf/AF) OGIP, Dry (Mcf/AF)

2,319.3 =43.56 x φ x (1-Sw) x Bg 2,319.2 =(OGIP, Wet) x (1-Cond. Shrink.)

Gas Deviation, z Bg (Scf/Rcf) Cond. Shrink. (%)

0.8233 192.0 0.01%

Reservoir Volumetric Parameters Proved Res. Area ANET Res. Volume

(AC) (Ft) (AF)

Producing Status Well Name/No.

Probable

Possible

2,037 Producing

Undeveloped

Undeveloped

Hydrocarbon Recovery In-Place RecFac/Yield (% |B/MM) Rec. Reserves Cum. Production Remaining Res.

MMcf 4,724 60.00 2,834 2,834

Bbl

MMcf

Bbl

MMcf

Bbl

472 if %

if %

if %

0 0

As of Date: Notes:

1.165 Bcf produced by the SL 1961 #68 well. Appears to be pressure depletion based on decline. Est. 1.67 Bcf remaining in north and south portion of the reservoir. (Probable)

These results were prepared using RyVOL . This is not Ryder Scott work product.

F Sand Volumetrics



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