Thursday, October 15, 2009 2:21:56 PM
of Odyssey’s Key Oil Fields
Future Revenue and Current Reserves
■Potential future revenue is $978.9 million – based on constant prices and expenses, NPV 10*
■Proven, probable and possible reserves of more than 34.6 million barrels of oil and 97.5 million MCF of gas
■This data is based on Odyssey Petroleum’s published NI 51-101 produced by Fletcher Lewis Engineering Inc. and dated December 7, 2006
*Net present value discounted at 10%
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Puckett Field, Rankin & Smith Counties, Mississippi
•Potential future revenue of $200 million
•25 well oil and gas field, 14 wells currently producing
•Estimated future recovery: five million barrels of oil and five million cubic feet of gas, 38 producing zones
•Blue sky potential – new deeper drilling can add significant additional reserves
Pelahatchie Field, Rankin County, Mississippi
•Potential future revenue of $2.9 billion
•Proven and probable reserves – 50,000,000 (BOE)
•Multiple productive zones 7500 ft to 17,000 ft. subsurface and 4,300 acres
•Most infrastructure in place, eight wells producing
•Acquisition/development cost under $2 per barrel
The Verba Field, Mississippi
•12 wells, including seven which are presently fully-equipped oil wells producing 3600 – 4400 barrels per month, and three orphan wells with added potential
•Two operational salt water disposal wells and mineral leasehold rights to the majority of the known productive limits extending over approx. 1,500 gross acres
•Located 50 miles from the Company’s core operations, Verba produced 2M barrels of oil from eight formations
Barber Creek Field, Scott County, Mississippi
•Smackover Formation includes three productive wells
•1.2M barrels of oil have been produced in the past
•Report estimates 2.6M barrels of recoverable oil
•Geology indicates a new well can be drilled in a superior position to the three producing wells, and should recover appreciable new oil reserves
•Comprising approximately 850 acres, Barber Creek Field is located 35 miles east of Jackson, Mississippi, only 12 miles north of the Company’s core operations
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