Kodiak
2005 GRASP RUN-9/28/05
Mean
10,000 trial runs
Price BOE Oil Condensate Total Oil Sol Gas Non-Ass Gas Total Gas
$/bbl $/Mcf Mbbl Mbbl Mbbl Mbbl MMcf MMcf MMcf
$8 $1.21 - - - - - - -
$10 $1.51 - - - - - - -
$12 $1.81 - - - - - - -
$14 $2.12 - - - - - - -
$16 $2.42 - - - - - - -
$18 $2.72 - - - - - - -
$20 $3.02 237 - 51 51 - 1,044 1,044
$22 $3.33 2,337 - 417 417 - 10,793 10,793
$24 $3.63 9,300 - 1,579 1,579 - 43,390 43,390
$26 $3.93 26,643 - 4,108 4,108 - 126,645 126,645
$28 $4.23 50,525 - 7,445 7,445 - 242,110 242,110
$30 $4.54 80,435 - 11,429 11,429 - 387,814 387,814
$32 $4.84 110,266 - 15,258 15,258 - 533,946 533,946
$34 $5.14 138,640 - 18,810 18,810 - 673,447 673,447
$36 $5.44 163,051 - 21,811 21,811 - 793,771 793,771
$38 $5.75 183,977 - 24,448 24,448 - 896,550 896,550
$40 $6.05 202,152 - 26,729 26,729 - 985,879 985,879
$42 $6.35 217,668 - 28,668 28,668 - 1,062,181 1,062,181
$44 $6.65 231,335 - 30,359 30,359 - 1,129,483 1,129,483
$46 $6.96 244,195 - 31,985 31,985 - 1,192,618 1,192,618
$48 $7.26 255,822 - 33,419 33,419 - 1,249,902 1,249,902
$50 $7.56 265,759 - 34,633 34,633 - 1,298,924 1,298,924
$52 $7.86 274,774 - 35,754 35,754 - 1,343,292 1,343,292
$54 $8.16 283,033 - 36,759 36,759 - 1,384,057 1,384,057
$56 $8.47 290,227 - 37,643 37,643 - 1,419,518 1,419,518
$58 $8.77 296,716 - 38,453 38,453 - 1,451,440 1,451,440
$60 $9.07 303,004 - 39,221 39,221 - 1,482,461 1,482,461
$62 $9.37 308,336 - 39,863 39,863 - 1,508,818 1,508,818
$64 $9.68 313,110 - 40,435 40,435 - 1,532,435 1,532,435
$66 $9.98 317,133 - 40,919 40,919 - 1,552,320 1,552,320
$68 $10.28 320,773 - 41,359 41,359 - 1,570,303 1,570,303
$70 $10.58 323,991 - 41,748 41,748 - 1,586,206 1,586,206
$72 $10.89 327,043 - 42,113 42,113 - 1,601,305 1,601,305
$74 $11.19 329,789 - 42,450 42,450 - 1,614,841 1,614,841
$76 $11.49 332,150 - 42,729 42,729 - 1,626,548 1,626,548
$78 $11.79 334,341 - 42,994 42,994 - 1,637,370 1,637,370
2005 GRASP 6/6/2009
$80 $12.10 336,184 - 43,219 43,219 - 1,646,461 1,646,461
95%
10,000 trial runs
Price BOE Oil Condensate Total Oil Sol Gas Non-Ass Gas Total Gas
$/bbl $/Mcf Mbbl Mbbl Mbbl Mbbl MMcf MMcf MMcf
$8 $1.21 - - - - - - -
$10 $1.51 - - - - - - -
$12 $1.81 - - - - - - -
$14 $2.12 - - - - - - -
$16 $2.42 - - - - - - -
$18 $2.72 - - - - - - -
$20 $3.02 - - - - - - -
$22 $3.33 - - - - - - -
$24 $3.63 - - - - - - -
$26 $3.93 - - - - - - -
$28 $4.23 - - - - - - -
$30 $4.54 - - - - - - -
$32 $4.84 - - - - - - -
$34 $5.14 - - - - - - -
$36 $5.44 - - - - - - -
$38 $5.75 - - - - - - -
$40 $6.05 - - - - - - -
$42 $6.35 - - - - - - -
$44 $6.65 - - - - - - -
$46 $6.96 - - - - - - -
$48 $7.26 - - - - - - -
$50 $7.56 - - - - - - -
$52 $7.86 - - - - - - -
$54 $8.16 - - - - - - -
$56 $8.47 - - - - - - -
$58 $8.77 - - - - - - -
$60 $9.07 - - - - - - -
$62 $9.37 - - - - - - -
$64 $9.68 - - - - - - -
$66 $9.98 - - - - - - -
$68 $10.28 - - - - - - -
$70 $10.58 - - - - - - -
$72 $10.89 - - - - - - -
$74 $11.19 - - - - - - -
$76 $11.49 - - - - - - -
$78 $11.79 - - - - - - -
$80
2005 GRASP$12.10 - - - - - - -
6/6/2009
5%
10,000 trial runs
Price BOE Oil Condensate Total Oil Sol Gas Non-Ass Gas Total Gas
$/bbl $/Mcf Mbbl Mbbl Mbbl Mbbl MMcf MMcf MMcf
$8 $1.21 - - - - - - -
$10 $1.51 - - - - - - -
$12 $1.81 - - - - - - -
$14 $2.12 - - - - - - -
$16 $2.42 - - - - - - -
$18 $2.72 - - - - - - -
$20 $3.02 3,647 - 928 928 - 15,282 15,282
$22 $3.33 8,760 - 1,863 1,863 - 38,761 38,761
$24 $3.63 54,182 - 9,162 9,162 - 253,011 253,011
$26 $3.93 137,959 - 20,942 20,942 - 657,636 657,636
$28 $4.23 241,162 - 33,779 33,779 - 1,165,491 1,165,491
$30 $4.54 396,395 - 53,424 53,424 - 1,927,497 1,927,497
$32 $4.84 568,087 - 75,381 75,381 - 2,769,005 2,769,005
$34 $5.14 667,186 - 86,591 86,591 - 3,262,942 3,262,942
$36 $5.44 806,991 - 103,317 103,317 - 3,954,644 3,954,644
$38 $5.75 908,745 - 116,383 116,383 - 4,453,077 4,453,077
$40 $6.05 968,227 - 123,617 123,617 - 4,746,710 4,746,710
$42 $6.35 1,020,494 - 130,182 130,182 - 5,003,551 5,003,551
$44 $6.65 1,089,572 - 139,319 139,319 - 5,340,424 5,340,424
$46 $6.96 1,122,977 - 143,511 143,511 - 5,504,602 5,504,602
$48 $7.26 1,156,921 - 147,469 147,469 - 5,673,123 5,673,123
$50 $7.56 1,190,410 - 151,770 151,770 - 5,837,156 5,837,156
$52 $7.86 1,220,532 - 155,590 155,590 - 5,984,974 5,984,974
$54 $8.16 1,243,989 - 158,527 158,527 - 6,100,299 6,100,299
$56 $8.47 1,265,523 - 161,333 161,333 - 6,205,548 6,205,548
$58 $8.77 1,283,779 - 163,555 163,555 - 6,295,660 6,295,660
$60 $9.07 1,307,707 - 166,195 166,195 - 6,415,300 6,415,300
$62 $9.37 1,327,316 - 168,487 168,487 - 6,512,620 6,512,620
$64 $9.68 1,344,144 - 170,459 170,459 - 6,596,110 6,596,110
$66 $9.98 1,358,575 - 172,240 172,240 - 6,667,206 6,667,206
$68 $10.28 1,369,717 - 173,567 173,567 - 6,722,365 6,722,365
$70 $10.58 1,380,552 - 175,008 175,008 - 6,775,155 6,775,155
$72 $10.89 1,390,849 - 176,134 176,134 - 6,826,700 6,826,700
$74 $11.19 1,400,406 - 177,199 177,199 - 6,874,428 6,874,428
$76 $11.49 1,413,801 - 178,764 178,764 - 6,940,905 6,940,905
$78 $11.79 1,420,746 - 179,647 179,647 - 6,974,977 6,974,977
$80 $12.10 1,426,772 - 180,282 180,282 - 7,005,275 7,005,275
2005 GRASP 6/6/2009
Kodiak Price/Supply Curve (Mean)
Tcf
0.0 0.2 0.4 0.6 0.8 1.0 1.2 1.4 1.6 1.8
$80
$12
$70
$10
$60
$8
$50
Price $/Mcf
Price $/bbl
$40
$6
$30
Oil
Condensate $4
Sol Gas
$20
Non-Ass Gas
$2
$10
$0 $0
0.0 0.2 0.4 0.6 0.8 1.0 1.2 1.4 1.6 1.8
Bbbls
2005 GRASP 6/6/2009
Kodiak Oil Price/Supply Curve (95/Mean/5)
$80
$70
$60
$50
Price $/bbl
$40
$30
95%
Mean Oil
$20 5%
$10
$0
0.00 0.02 0.04 0.06 0.08 0.10 0.12 0.14 0.16 0.18 0.20
Bbbls
2005 GRASP 6/6/2009
Kodiak Gas Price/Supply Curve (95/Mean/5)
$12
$10
$8
Price $/Mcf
$6
95%
$4
Mean Gas
5%
$2
$0
0 1 2 3 4 5 6 7 8
Tcf
2005 GRASP 6/6/2009
Kodiak Price/Supply Curve (Mean)
Tcf
0.00 0.20 0.40 0.60 0.80 1.00 1.20 1.40 1.60 1.80
$80
$12
$70
$10
$60
$8
$50
Price $/Mcf
Price $/bbl
$40
$6
$30
Total Oil $4
Total Gas
$20
$2
$10
$0 $0
0.00 0.20 0.40 0.60 0.80 1.00 1.20 1.40 1.60 1.80
Bbbls
2005 GRASP 6/6/2009