Overlooked Treasures:New Prospects in Old Basins

Norsk-Tysk Handelskammer29 September 2011

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About RWE Dea Norge

> RWE Dea Norge is an oil and gas exploration and production company, present in Norway since 1973.

> The company is operator of four licences, PL330, PL420, PL435, and PL582 and partner in 18 licences.

> In 2010, discoveries were made in PL420 and PL435; exploration and appraisal continue in both licenses.

> As we move to operated developments, the company’s staff will increase by 33% during 2011/2012.

> RWE Dea Norge is fully owned by RWE Dea AG, one of the managing companies of the Essen based RWE Group.

Key Figures

626061No. of employees

10.8 mill Sm310.6 mill Sm39.5 mill Sm3Total oil reserves at year end

21 600 tons17 000 tons10 000 tonsNGL

0.05 bill Sm30.048 bill Sm30.02 bill Sm3Gas

1.26 mill Sm30.84 mill Sm30.7 mill Sm3Oil

200520062007Production

101010Share capital

105-110437Net income for the year

-1 239-755-491Tax expenses

1 343645928Income before income taxes

-2248Net financial expenses

1365641879Operating result

-1 188(1 023)Operating expenses

2 5521 6642 240Operating revenues

(all financial figures in million NOK)

200520062007Profit and loss

63No. of employees

7.38 mill Sm3Total oil reserves at year end

163 mill Sm3Dry gas and LNG

0.79 mill Sm3 (o.e.)

2010Production

10Share capital

291Net income for the year

(509)Tax expenses

800Income before income taxes

76Net financial expenses

877Operating result

Operating expenses

2 511Operating revenues

(all financial figures in million NOK)

2010Profit and loss

(1 635)

2009

2 134

(1 751)

383

(450)

(67)

(50)

(117)

10

2009

0.82 mill Sm3 (o.e.)

105 mill Sm3

7.41 mill Sm3

60

Crude oil, Cond., LPG, NGL

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RWE Dea Norge stands for

> Long-term commitment

> Technical expertise

> Environmental competence

> Financial strength

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What makes exploration work ?

1. Significant finds are often made early in drilling on new geological concepts.

2. Success in mature areas relies on significant local insight and intensive technical work.

3. Good ideas and technology lead to discoveries.

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Proving reserves through exploration

> Exploration can target moderate volume finds in lower risk settings.

> Alternatively, high-risk high reward targets can provide ‘company-changers’.

> RWE Dea actively pursues both high impact and more controlled risk exploration targets on the NOCS.

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Zidane

Titan

> First operated discoveries for RWE Dea came with Zidane and Titan in 2010.

> Both were new ideas in mature areas.

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Page 8 Page 8

PL435 Zidane Discovery

– RWE Dea 40%

– Edison 20%

– Mærsk 20%

– Noreco 20%

Titan Discovery

Nordland

Haltenbank

Barents

Titan, Jordbær

Luno

> RWE has 8 more ‘good ideas’ to be drilled in the next 15 months.

> We will continue to generate drilling ideas, both in licensed & new areas.