Ann: AWE reserve report for Sugarloaf AMI , page-2

AUT has 10% of sugerloaf. AWE also has 10% of Sugerloaf. AUT has reported the following Reserves for Sugerloaf:

..............Oil........Gas
............(bbls)......(mscf)

Proven
....(1P)...833,663....6,143,855
Probable..1,848,186.....12,031,815

2P........2,681,848.....18,175,670

3P........8,132,652.....48,530,262

Using Santos Conversion calculator, I get the 2P 18,175,670 mscf of gas is the equivalent of 3,314,000 bbls of oil. (http://www.santos.com/conversion-calculator.aspx)

Therefore, Sugerloaf 2P Reserves could come in at around 6 mmbbls of oil equivalent.

Regards

SP