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