Ettrick

• Working interest – 12.00%
• Field Development Plan incorporates a stand-along FPSO (Aoka Mizu) Development and three or four producing wells and three injection wells
• Upside in developing satellite discoveries: Bright and Marten
• One exploration well – Blackbird – scheduled for Q2 2008
• Development costs are expected to be C$13.00 per boe with operating costs of approximately C$15.00 to $20.00 per boe
• First production is expected mid-2008