Parex Operational Update

Q2 Production Exceeds 27,000 bopd and Expansion of Rumba Oil Discovery - Seite 2

A summary of the current drilling/testing program* is provided:

#	Prospect/Well	Block	Timing / Status
1	Rumba-1	LLA-26	Producing at a restricted rate
2	Rumba-2	LLA-26	Currently completing as a Rumba-1 follow-up
3	Taringa-1	Cebucan	Following LLA-26
4	Tautaco-1	LLA-10	Following Cebucan
5	Capachos-1	Capachos	Contract signed. Q4 Spud
6	Rumba-3/Bazar-2	LLA-26	Q3/4 Spud
7	Guepardo-1	LLA-32	Following LLA-20
8	Carcayu-1	LLA-32	Following LLA-32
9	Appraisal Well	LLA-32	Q3 Spud (contingent)
10	Jacana-1	LLA-34	Q4 Spud (South of Tigana field)
11	Tilo-2	LLA-34	Q3 Spud (new)
12	Chachalaca-1	LLA-34	Q3 Spud (new)
13	Appraisal Well	LLA-34	Q4 Spud (new)
14	Appraisal Well	LLA-34	Q4 Spud (new)
15	Exploration Prospect	VMM-11	Q4 Spud (new)

^{Note: *Subject to partner and/or regulatory approvals}