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Bankers Petroleum Ltd
October 2011 Corporate Presentation
| Abby Badwi | Page 15 of 11 |
December 18, 2014
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"October 2011 Corporate Presentation"
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BANKERS PETROLEUM 2011 Horizontal Well Performance 225 Current average decline is 30%; decline range of 22% (D3L) to 37% (D20) 225 Variation in performance is due to reservoir heterogeneity, areal extent, different pressure regimes, and well optimization profiles 15 Type Well IP Current Decline Projected Recovery Well Count Zone (bbl/d) (%) ( Mbbl ) Current 226 End Aug D1 176 33 270 28 D2 140 28 245 9 D20 137 37 167 14 D3U 173 35 207 19 D3L 146 22 254 15 D4 162 30 247 8 D5* 110 3 G6* 169 5 Average Well Curve (Full Development) 152 30 233 101 RPS Average Well Curve (2P Development) 142 258 Assumptions: Flat $100/bbl Brent; Op costs of $4,000/well/month plus $20/bbl variable OPEX (includes Sales & Transport) * Recently developed reservoirs with insufficient historical data for decline analysis