Profundo Technologies Ltd.

1. Project Management and Operational support Profundo Technologies Ltd. February 2014

2. Summary Introduction • A registered Chinese company, headquartered at Shekou-Shenzhen, wholly owned by a Hong Kong registered entity. • Company founded by technical, and operations specialists from • Oil & Gas industry with a great depth of international experience: •  China  Brazil  Africa  Russia  GOM • Organization’s objectives: • Complete challenging oil and gas engineering projects • Facilitate technology exchange between China and overseas technology companies • Maintain a focus on HS&E and legal or regulatory compliance • Approved by CNOOC Beijing and Shekou-Shenzhen Expat HR Departments to issue offshore work permits and residence visa for professional engineers and operations specialists. Profundo Technologies Ltd.

3. What can we do? • Areas of Expertise • Project Management and Technical Staffing • Drilling Operations and Well Planning • Fracturing operations – design, analysis and on-site supervision • Completions and Artificial Lift design • Flow assurance and Process Modeling (Hysim and Olga) • Asset Integrity Management and Materials Selection • Operational Readiness Documentation and Commissioning Services • Production Chemistry and Materials Selection Profundo Technologies Ltd.

4. What can we do? • Field Operations and Development Projects • Application of Lessons Learned • 24 years per consultant average experience based in China • Feasibility, Based on Life of Field • What makes sense based on the actual well and reservoir history • Design and Integration Requirements • From the reservoir, to well, to the production facility to export Profundo Technologies Ltd.

5. Clients in China Profundo Technologies Ltd.

6. Partners in China Profundo Technologies Ltd.

7. Example Projects in China • Husky China • Prepared operators documentation for the Liwan deepwater gas project (11 volumes) • Development of deepwater Asset Integrity Management Program • Deepwater subsea pipeline commissioning team (contract awarded) • Newfield China • Completed Flow Assurance Study – subsea pipeline design • Developing and supporting procurement of electric submersible pumping (ESP) system • Drilling and Completions Program appraisal and verification • Well Testing Program Development and Management • Commissioning Management and Staff for LuFeng 7-2 platform • (including arrangement ofresident visas and offshore work permits) • Roc Oil • Materials selection and asset integrity management training program • ENI – Saipem • Supported procurement and delivery of pre-commissioning materials for Liwan deepwater pipeline Profundo Technologies Ltd.

8. Professional Staffing Services • Locating and qualifying experienced professional engineering and operations specialists • Contracting the personnel directly and payment of compensation, benefits and relevant PRC taxes including social benefit payments • Organizing travel and logistics to travel to the PRC or where needed • Arrange the necessary visa including a work permit to in order for short term or long term residence in the PRC • Organizing CNOOC approved offshore work permits including preparing the LOI • Ensuring the presence of the candidate in the PRC complies with all regulations and legal requirements • Provision of a valid “Fapiao” (Chinese invoice) for services • Payment of all taxes to the Shenzhen region and Guangdong province authorities Profundo Technologies Ltd.

9. Staffing Positions • Multi-discipline engineering staff – mechanical, electrical, civil, structural • Construction and Commissioning Managers – Lead Engineers • Operations Supervisory Personnel • QC/QA Supervisors and Inspectors • MFL and Maintenance Pipeline Pigging Specialists • Asset Integrity Management and Materials Selection Specialists • Technical Documentation Specialists • Materials Managers • HS&E • Third Party Technical Staff i.e. Engineers, ROV operators etc. Profundo Technologies Ltd.

10. Case History – Commissioning Manager i) Sunday October 20th Candidate accepts position as Commissioning Manager ii) Monday October 21st Profundo sends personnel details to CNOOC Beijing iii) Wednesday October 23rd Profundo Receives approved work permit from CNOOC New Commissioning Manager Arrives at Hong Kong (1st time) iv) Thursday October 24th Commissioning Manager Provided with Z visa and enters PRC (1st time) Friday October 25th Commissioning Manager starts work at client’s office On November 15ththis Manager received his permanent PRC resident visa Profundo Technologies Ltd.

11. Work Permit Process • Profundo was provided a Technical Services Contract by Husky to provide engineers and operations specialists. • This “framework” agreement includes areas such as the subsea pipeline commissioning work. • CNOOC approval from this framework agreement to hire staff will be extended to include ENI-Saipem staff – i.e. “blanket approval for a group is granted” • The staff become Profundo employees in the PRC and subcontracted to Husky or its 3rd party suppliers as required. • ENI-Saipem will not be required to be involved in the immigration process. • The immigration process is expected to be completed in 3 weeks with the candidate starting work in the PRC after 5 days of notification of intent to enter the PRC. • Husky will not be required to be involved in each immigration process once a Contract Project Summary is approved by their representative and CNOOC. Profundo Technologies Ltd.

12. Offshore Work Permit Process Summary • General service contract or blanket purchase order is awarded to Profundo describing a technical scope of work or project for example: Pipeline Commissioning Services. • Profundo prepares a “Project Summary” referencing the contract and submits it to Saipem for review. • Husky’s legal representative or person with authority to execute contracts signs the Project Summary and organizes the signing by the Husky PIC and CNOOC representative assigned to their project. • Profundo submits “approved” Project Summary to CNOOC Expat HR Department at Beijing. • CNOOC Expat HR Beijing acknowledges receipt and confirms Profundo to fill positions included in the organization chart including ENI-Saipem personnel Profundo Technologies Ltd.

13. Example Pipeline Commissioning Project Organization Commissioning Project Manager (1) Lead Mechanical Engineers (2) Materials Operations Engineers (2) Lead Structure Engineers (2) HS&E Engineers (2) Mechanical Engineers (3) Marine Engineers (3) Logistics Specialists (2) QA/QC Engineers (2) Materials Transfer Specialists (2) This example structure provides for a total of 21 positions approved by CNOOC to be filled by foreign candidates either selected by Saipem or Profundo. These positions may be filled on an as needed timeframe to support the project. Profundo Technologies Ltd.

14. Staffing Resources • Global Alliance Partners • Partnered with two global recruiting firms to increase resource base: • Earthstaff Specialist Energy Recruitment (UK) • AWT International (Australia/Malaysia) Profundo Technologies Ltd.

15. Staff Planning and Applicant Qualification Process Identify Qualifications PSD or Alliance Partner Identify Staffing Needs Negotiation and Contract Application Screening Offer of Employment Two Interviews Presentation to Client Profundo Technologies Ltd.

16. Value Proposition • Offering complete staffing solutions for offshore oil and gas facilities: • Able to efficiently organize CNOOC approved offshore work permits and PRC visas for professional engineers and operations specialists. • Process managed by a Chinese entity based in Shekou able to legally employ expatriate personnel. • Company able to issue valid Fa Piao and meet taxation requirements. • Will develop staffing plans from commissioning phase through to ongoing operations. • A depth of staffing resources to fill challenging positions. Ongoing staffing projects such as staffing a combination drilling – production rig (LuFeng 7-2) operating in the South China Sea. • Flexibility with respect to contracting services structure Profundo Technologies Ltd.