CalEnergy

The Project
The Victor Gas Field is located in the southern North Sea, and has net remaining reserves of 5 billion cubic feet net to CalEnergy Gas. An unmanned platform is installed at the field which produces from five production wells and a sixth undersea well which is tied back to the platform. The gas is transported through a 16-inch pipeline to the Viking Field and then onto the Theddlethorpe shore terminal. The field has been in production since September 1984. The gas from Victor Field is sold to Centrica.

Resource Development

Producing Gas Fields	Share of Remaining Reserves as of 1/1/08	Current Percentage Working Interest

Greater Zaniemysl Area	9 Bcf	24.5%

Yolla	45 PJ	15%

Victor	5 Bcf	5%

Gas Projects in Commissioning	Share of Reserves	Size in Square Kilometers (Net)	Current Percentage Working Interest

Thylacine/Geographe	45 PJ	133	5%

Gas Projects in Development	Permit Status	Current Percentage Working Interest

Perth Basin	Drilling 2009	50%
Otway Basin	Evaluation - Drilling 2009	5%
Bass Basin	Evaluation	18.5%
Block 48/1a	Evaluation	55%