Arran Energy Pty Limited

Arran Energy is a privately owned Australian company. Arran owns a significant portfolio of oil and gas assets in the Western Province of Papua New Guinea, immediately adjacent to the Indonesian border. The portfolio is a combination of certified reserves (with an approved development plan) and extensively appraised 2C contingent resource. All resource volumes have been prepared in accordance with SPE protocols and verified by a well known independent resource certifier. The resource volumes consist of 357 MMBOE, consisting of approximately 62 MMBBL of condensate and 1.8 TCF of gas. The resource holdings are spread over five different licences in which Arran owns a large majority controlling interest and is the operator. This consolidated position has been achieved via the acquisition of large equity interests in the associated licences. These interests were acquired via corporate acquisitions whereby Arran acquired the following companies, • Repsol PNG Limited • Horizon Oil PNG Holdings Limited • Osaka Gas Niugini Limited