CalEnergy

The Yolla Gas Field was discovered in 1985 and is located approximately 120 kilometers from the coast of Tasmania and 150 kilometers from the coast of Victoria in Australia. CalEnergy Gas acquired a 15 percent interest in the Yolla Field via an option agreement with Boral Energy Resources Limited (now Origin Energy). Interests also were earned in two other permits in the Bass Basin of Southeast Australia. The Yolla Gas Field contains recoverable reserves of approximately 323 PJ of sales gas, 13 million barrels of condensate and 0.97 million tonnes of LPG in the main reservoir, with additional reserves possible in other unexplored parts of the field. Construction is completed, and production began in May 2006.

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%