Perth Basin (Australia)
Resource Project Development (Exploration and/or Appraisal)
Since award in November 2004, CalEnergy has been a substantial interest holder in onshore exploration permit EP 437, located approximately 350 kilometers north of the city of Perth. CalEnergy is in the process of acquiring the remaining third-party interest, which will result in CalEnergy holding 100 percent of the permit.

CalEnergy is considering a drilling campaign for one or two wells in late 2010, with the intent being to seek farm in partners for the activity.

Resource Development
Producing
Gas Fields		 Share of Remaining
Reserves as of 1/1/10		 Share of Contingent Resources Current Percentage
Greater Zaniemysl Area 7 Bcf - 24.5%
Yolla 54 Bcf – 15%
Thylacine 18 Bcf 10 Bcf 5%
Victor 3 Bcf - 5%
Gas Projects
in Commissioning		 Share of Remaining
Reserves as of 1/1/10		 Share of Contingent Resources Current Percentage
Working Interest
Geographe 13 Bcf - 5%
Gas Projects in Development Permit
Status		 Current Percentage
Working Interest
Perth Basin Drilling 2010 100%
Otway Basin Evaluation 2010 5%
Bass Basin Evaluation 2010 - Drilling 2010 8.5%
Block 48/1a Evaluation 2010 - Drilling 2010 15%
Poland Evaluation 2010 - Drilling 2010 100%