Company: PAM
Filing Date: 2025-04-16
Form Type: 20-F
Source: 0001292814-25-001504
Chunk: 5

Company: Pampa Energy Inc.
Filing Date: 2025-04-16
Form: 20-F
Item: Item 3
Chunk 5
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are various generally accepted methodologies for estimating reserves including volumetric, decline analysis, material balance, simulation
models and analogies. Estimates may be prepared using either deterministic methods. The particular method chosen should be based on the
evaluator’s professional judgment as being the most appropriate, given the geological nature of the property, the extent of its
operating history and the quality of available information. It may be appropriate to employ several methods in reaching an estimate for
the property.

Estimates
must be prepared using all available information (open and cased hole logs, core analyses, geologic maps, seismic interpretation, production/injection
data and pressure test analysis). Supporting data, such as working interest, royalties and operating costs, must be maintained and updated
when such information changes materially.

Our
estimated proved reserves as of December 31, 2024, are based on estimates generated through the integration of available and appropriate
data, utilizing well-established technologies that have been demonstrated in the field to yield repeatable and consistent results. Data
used in these integrated assessments include information obtained directly from the subsurface via wellbore, such as well logs, reservoir
core samples, fluid samples, static and dynamic pressure information, production test data, and surveillance and performance information.
The data utilized also include subsurface information obtained through indirect measurements, including high quality 2-D and 3-D seismic
data, calibrated with available well control. Where applicable, geological outcrop information was also utilized. The tools used to interpret
and integrate all this data included both proprietary and commercial software for reservoir modeling, simulation and data analysis. In
some circumstances, where appropriate analog reservoir models are available, reservoir parameters from these analog models were used to
increase the reliability of our reserves estimates.

Our Generation Business

Our power generation assets include:
CTG, CTP, CTPP, CTLL, CTIW, CPB, CTGEBA, HPPL, EcoEnergía, PEPE II, PEPE III, PEPE IV, PEPE VI and PEA and interests in CTB, HINISA
and HIDISA.

Renewable Energy

PEPE II

PEPE II is located on Provincial
Route No. 51, 18 km from the city of Bahía Blanca in the province of Buenos Aires. It was commissioned in May 2019 with an installed
capacity of 53 MW, representing 0.1% of Argentina's power. Its 14 Vestas V-136 wind turbines,