Pacific Energy Resources, LTD

PACIFIC ALASKA OPERATIONS

Alaska Operating LLC

- Net Production of approximately 5,900 boe/day

- Low-risk exploitation opportunities

- Equipment and facilities including Kustatan onshore - facility, compressors, surplus equipment and drilling rigs

Pacific Alaskan Assets

- 50% interest in Cook Inlet Pipeline Company

- Approximately 1MM net undeveloped acres

- Approximately 120 square miles proprietary 3-D seismic and 840 miles proprietary 2-D seismic

- Extensive prospect inventory

- Unrisked 3P potential in 18 prospects of 1,312 MMBOE

McArthur River | Redoubt Shoal | Trading Bay | Kustatan