Document:

exhbt1026.htm

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Exhibit
10.26

    

    

    

    

    

    RESERVE
AND ECONOMIC EVALUATION

    OIL
AND GAS PROPERTY

    

    

    

     

    TARAPUR
AREA

     

    INDIA

    

    

    

    

    

    

    

    

    

    

    

    Owned
by

    

    GEOGLOBAL
RESOURCES INC.

    

    January
1, 2010

    (December
31, 2009)

    

    

     
 

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

    

    

    

    

    

    

    

    

    March 4,
2010

    

    

    Geoglobal
Resources Inc.

    200, 625
- 4th Avenue SW

    Calgary,
AB

    T2P
0K2

    

    Attention:  Mr.
Allan Kent

    

    

    Dear
Sir:

    

    Re:         Geoglobal
Resources Inc.

    Reserve
and Economic Evaluation – January 1,
2010                                                                                                   

    

    In
accordance with your authorization we have performed a reserve and economic
evaluation of oil and gas properties owned by Geoglobal Resources Inc. (the
"Company") for an effective date of January 1, 2010 (as of December 31,
2010).

    

    This
evaluation has been carried out in accordance with the guidelines of Regulation
S-X, Rule 4 -10 (a) of the Securities Exchange Act, with respect to the
classification of Proved Reserves, in conjunction with the standards set out in
the Canadian Oil and Gas Evaluation Handbook, Volume 1 – Second Edition
(COGEH-1) prepared jointly by the Society of Petroleum Evaluation Engineers
(Calgary Chapter) and the Canadian Institute of Mining, Metallurgy and Petroleum
(Petroleum Society).  The report has been prepared and/or supervised
by a "Qualified Reserves Evaluator" as demonstrated on the accompanying
Certificate of Qualification of the author(s).

    

    The SCOPE
OF REPORT contains the authorization and purpose of the report and describes the
methodology and economic parameters used in the preparation of this
report.

    

    The
SUMMARY OF RESERVES AND ECONOMICS (SEC) contains the results of the economic
forecasts using the new pricing guidelines as defined in Regulation S-X 210.4-10
22 (v), and expressed in United States dollars for the proved and proved plus
probable reserves, as applicable for SEC filing.

    

    The
DISCUSSION contains a description of the interests and burdens, reserves and
geology, production forecasts, product prices, capital and operating costs and a
map of each major property.  The economic results and cash flow
forecasts (before income tax) are also presented on an entity and property
summary level.

    

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    A
REPRESENTATION LETTER from the Company, confirming that to the best of their
knowledge all the information they provided for our use in the preparation of
this report was complete and accurate as of the effective date, is enclosed
following the Glossary.

    

    Because
the reserves data are based on judgments regarding future events, actual results
will vary and the variations may be material.  We have no
responsibility to update our report for events and circumstances which may have
occurred since the preparation date of this report.

    

    Prior to
public disclosure of any information contained in this report, or our name as
author, our written consent must be obtained, as to the information being
disclosed and the manner in which it is presented.  This report may
not be reproduced, distributed or made available for use by any other party
without our written consent and may not be reproduced for distribution at any
time without the complete context of the report, unless otherwise reviewed and
approved by us.

    

    We
consent to the submission of this report, in its entirety, to securities
regulatory agencies and stock exchanges, by the Company.

    

    It has
been a pleasure to prepare this report and the opportunity to have been of
service is appreciated.

    

    Yours
very truly,

    Chapman
Petroleum Engineering Ltd.

    

    [Original
Signed By:]

    

    C.W.
Chapman

    C.W.
Chapman P. Eng.,

    President

    

    [Original
Signed By:]

    

    Roy A.
Collver

    Roy A.
Collver, E.I.T.

    Petroleum
Engineer

    

    rac/lml/4930

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    

    

    

    

     

    CERTIFICATE
OF QUALIFICATION

     

    

    

    

    

    

    I, C. W.
CHAPMAN, P. Eng., Professional Engineer of the City of Calgary, Alberta, Canada,
officing at Suite 445, 708 – 11th
Avenue S.W., hereby certify:

    

    
      	
              1.

            	
              THAT
      I am a registered Professional Engineer in the Province of Alberta and a
      member of the Australasian Institute of Mining and
    Metallurgy.

            

    

    

    
      	
              2.

            	
              THAT
      I graduated from the University of Alberta with a Bachelor of Science
      degree in Mechanical Engineering in
1971.

            

    

    

    
      	
              3.

            	
              THAT
      I have been employed in the petroleum industry since graduation by various
      companies and have been directly involved in reservoir engineering,
      petrophysics, operations, and evaluations during that
  time.

            

    

    

    
      	
              4.

            	
              THAT
      I have in excess of 25 years in the conduct of evaluation and engineering
      studies relating to oil & gas fields in Canada and around the
      world.

            

    

    

    
      	
              5.

            	
              THAT
      I participated directly in the evaluation of these assets and properties
      and preparation of this report for Geoglobal Resources Inc., dated March
      4, 2010 and the parameters and conditions employed in this evaluation were
      examined by me and adopted as representative and appropriate in
      establishing the value of these oil and gas properties according to the
      information available to date.

            

    

    

    
      	
              6.

            	
              THAT
      I have not, nor do I expect to receive, any direct or indirect interest in
      the properties or securities of Geoglobal Resources Inc. its participants
      or any affiliate thereof.

            

    

    

    
      	
              7.

            	
              THAT
      I have not examined all of the documents pertaining to the ownership and
      agreements referred to in this report, or the chain of Title for the oil
      and gas properties discussed.

            

    

    

    
      	
              8.

            	
              A
      personal field examination of these properties was considered to be
      unnecessary because the data available from the Company's records and
      public sources was satisfactory for our
  purposes.

            

    

    

    

    

    

    [Original
Signed By:]

    

    C.W.
Chapman

    

    C. W.
Chapman, P.Eng.

    President

    

    

    

    

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    

    

    CERTIFICATE
OF QUALIFICATION

    

    

    

    

    

    
      	
               
      

            	
              I,
      ROY A. COLLVER, of the City of Calgary, Alberta, Canada, officing at Suite
      445, 708 – 11th
      Avenue S.W., hereby certify:

            

    

    

    
      	
              1.

            	
              THAT
      I am a registered Engineer-In-Training in the Province of
      Alberta.

            

    

    

    
      	
              2.

            	
              THAT
      I graduated from Queen’s University in Kingston, Ontario with a Bachelor
      of Science degree in Engineering Physics in
  2005.

            

    

    

    
      	
              3.

            	
              THAT
      I participated directly in the evaluation of these assets and properties
      and preparation of this report for Geoglobal Resources Inc., dated March
      4, 2010 and the parameters and conditions employed in this evaluation were
      examined by me and adopted as representative and appropriate in
      establishing the value of these oil and gas properties according to the
      information available to date.

            

    

    

    
      	
              4.

            	
              THAT
      I have not, nor do I expect to receive, any direct or indirect interest in
      the properties or securities of Geoglobal Resources Inc., its participants
      or any affiliate thereof.

            

    

    

    
      	
              5.

            	
              THAT
      I have not examined all of the documents pertaining to the ownership and
      agreements referred to in this report, or the chain of Title for the oil
      and gas properties discussed.

            

    

    

    
      	
              6.

            	
              A
      personal field examination of these properties was considered to be
      unnecessary because the data available from the Company’s records and
      public sources was satisfactory for our
  purposes.

            

    

    

    

    

    [Original
Signed By:]

    

    Roy A.
Collver

    

    Roy A.
Collver, E.I.T.

    Petroleum
Engineer

    

    

    

    

    

    

    

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    RESERVE
AND ECONOMIC EVALUATION

    OIL
AND GAS PROPERTY

    

    

    

     

    TARAPUR
AREA

     

    INDIA

    

    

    

    

    

    

    

    

    

    

    

    

    

    Owned
by

    

    GEOGLOBAL
RESOURCES INC.

    

    January
1, 2010

    (December
31, 2009)

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

    

    

    

    

    

    

    

    

    

    TABLE
OF CONTENTS

    

    

    Scope
of Report

    

    Authorization

    Purpose

    Reserve Definitions

    Barrels of Oil Equivalent

    Sources of Information

    Product Prices

    Product Sales Arrangements

    Royalties

    Capital Expenditures and Operating
Costs

    Income Tax Parameters

    Abandonment and
Restoration

    Economics

    Constant Price Parameters

    Orientation Map

    

    Discussion

    

    INDIA

    Tarapur Area

    

    Summary
of Company Reserves and Economics

    

    Glossary

    

    Company
Representation Letter

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

    

     

    SCOPE
OF REPORT

     

    

    

    Authorization

    

    This
evaluation has been authorized by Mr. Allan Kent, on behalf of Geoglobal
Resources Inc.   The engineering analysis has been performed
between the months of August 2009 and March 2010.

    

    Purpose

    

    The
purpose of this report was to prepare a third party independent appraisal of the
oil and gas reserves owned by Geoglobal Resources Inc. for the Company's
financial planning and for dual filing on the SEC in the USA and for NI 51-101
in Canada.

    

    The
values in this report do not include the value of the Company's undeveloped land
holdings nor the tangible value of their interest in associated plant and well
site facilities they may own.

    

    Reserve
Definitions

    Proved
reserves as classified in the report have been based on the definitions found in
Rule 4-10(a) of Regulation S-X of the Securities Exchange Act, as
follows:

    

    Classification of
Reserves

    

     

    Proved Oil and Gas
Reserves.

     

     

    Proved
oil and gas reserves are those quantities of oil and gas, which, by analysis of
geoscience and engineering data, can be estimated with reasonable certainty to
be economically producible—from a given date forward, from known reservoirs, and
under existing economic conditions, operating methods, and government
regulations—prior to the time at which contracts providing the right to operate
expire, unless evidence indicates that renewal is reasonably certain, regardless
of whether deterministic or probabilistic methods are used for the estimation.
The project to extract the hydrocarbons must have commenced or the operator must
be reasonably certain that it will commence the project within a reasonable
time.

     

     

    (i) The area of the reservoir
considered as proved includes:

     

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

     

    (A) The
area identified by drilling and limited by fluid contacts, if any,
and

     

     

    (B)
Adjacent undrilled portions of the reservoir that can, with reasonable
certainty, be judged to be continuous with it and to contain economically
producible oil or gas on the basis of available geoscience and engineering
data.

     

     

    (ii) In
the absence of data on fluid contacts, proved quantities in a reservoir are
limited by the lowest known hydrocarbons (LKH) as seen in a well penetration
unless geoscience, engineering, or performance data and reliable technology
establishes a lower contact with reasonable certainty.

     

     

    (iii)
Where direct observation from well penetrations has defined a highest known oil
(HKO) elevation and the potential exists for an associated gas cap, proved oil
reserves may be assigned in the structurally higher portions of the reservoir
only if geoscience, engineering, or performance data and reliable technology
establish the higher contact with reasonable certainty.

     

     

    (iv)
Reserves which can be produced economically through application of improved
recovery techniques (including, but not limited to, fluid injection) are
included in the proved classification when:

     

     

    (A)
Successful testing by a pilot project in an area of the reservoir with
properties no more favorable than in the reservoir as a whole, the operation of
an installed program in the reservoir or an analogous reservoir, or other
evidence using reliable technology establishes the reasonable certainty of the
engineering analysis on which the project or program was based; and

     

     

    (B) The
project has been approved for development by all necessary parties and entities,
including governmental entities.

     

     

    (v)
Existing economic conditions include prices and costs at which economic
producibility from a reservoir is to be determined. The price shall be the
average price during the 12-month period prior to the ending date of the period
covered by the report, determined as an unweighted arithmetic average of the
first-day-of-the-month price for each month within such period, unless prices
are defined by contractual arrangements, excluding escalations based upon future
conditions.

     

     

    Probable
Reserves

     

     

    Probable
reserves are those additional reserves that are less certain to be recovered
than proved reserves but which, together with proved reserves, are as likely as
not to be recovered.

     

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

     

    (i) When
deterministic methods are used, it is as likely as not that actual remaining
quantities recovered will exceed the sum of estimated proved plus probable
reserves. When probabilistic methods are used, there should be at least a 50%
probability that the actual quantities recovered will equal or exceed the proved
plus probable reserves estimates.

     

     

    (ii)
Probable reserves may be assigned to areas of a reservoir adjacent to proved
reserves where data control or interpretations of available data are less
certain, even if the interpreted reservoir continuity of structure or
productivity does not meet the reasonable certainty criterion. Probable reserves
may be assigned to areas that are structurally higher than the proved area if
these areas are in communication with the proved reservoir.

     

     

    (iii)
Probable reserves estimates also include potential incremental quantities
associated with a greater percentage recovery of the hydrocarbons in place than
assumed for proved reserves.

     

     

    Possible
Reserves

     

     

    Possible
reserves are those additional reserves that are less certain to be recovered
than probable reserves.

     

     

    (i) When
deterministic methods are used, the total quantities ultimately recovered from a
project have a low probability of exceeding proved plus probable plus possible
reserves. When probabilistic methods are used, there should be at least a 10%
probability that the total quantities ultimately recovered will equal or exceed
the proved plus probable plus possible reserves estimates.

     

     

    (ii)
Possible reserves may be assigned to areas of a reservoir adjacent to probable
reserves where data control and interpretations of available data are
progressively less certain. Frequently, this will be in areas where geoscience
and engineering data are unable to define clearly the area and vertical limits
of commercial production from the reservoir by a defined project.

     

     

    (iii)
Possible reserves also include incremental quantities associated with a greater
percentage recovery of the hydrocarbons in place than the recovery quantities
assumed for probable reserves.

     

     

    (iv) The
proved plus probable and proved plus probable plus possible reserves estimates
must be based on reasonable alternative technical and commercial interpretations
within the reservoir or subject project that are clearly documented, including
comparisons to results in successful similar projects.

     

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

     

    (v)
Possible reserves may be assigned where geoscience and engineering data identify
directly adjacent portions of a reservoir within the same accumulation that may
be separated from proved areas by faults with displacement less than formation
thickness or other geological discontinuities and that have not been penetrated
by a wellbore, and the registrant believes that such adjacent portions are in
communication with the known (proved) reservoir. Possible reserves may be
assigned to areas that are structurally higher or lower than the proved area if
these areas are in communication with the proved reservoir.

     

     

    (vi)
Pursuant to paragraph (a)(22)(iii) of this section, where direct observation has
defined a highest known oil (HKO) elevation and the potential exists for an
associated gas cap, proved oil reserves should be assigned in the structurally
higher portions of the reservoir above the HKO only if the higher contact can be
established with reasonable certainty through reliable technology. Portions of
the reservoir that do not meet this reasonable certainty criterion may be
assigned as probable and possible oil or gas based on reservoir fluid properties
and pressure gradient interpretations.

     

    Barrel
of Oil Equivalent

    If at any
time in this report reference is made to “Barrels of Oil Equivalent” (BOE), the
conversion used is 6 Mscf : 1 STB (6 Mcf : 1 bbl).

    

    BOEs may
be misleading, particularly if used in isolation. A BOE conversion ratio of 6
Mcf : 1 bbl is based on an energy equivalency conversion method primarily
applicable at the burner tip and does not represent value equivalency at the
well head.

    

    Sources
of Information

    Source of
the data used in the preparation of this report are as follows:

    
      	
              i)  

            	
              Ownership
      and Burdens have been derived from the Company's land records and other
      information from the Company as required for
  clarification;

            

    

    
      	
              ii)  

            	
              Production
      data is acquired from public data sources, except for very recent data or
      certain wells which are provided directly by the
  Company;

            

    

    
      	
              iii)  

            	
              Well
      data is accessed from the Company's well files and from public data
      sources;

            

    

    
      	
              iv)  

            	
              Operating
      Costs are based on actual revenue and expense statements provided by the
      Company for established properties or from discussions with the Company
      and our experience in the area for new or non-producing
      properties;

            

    

    
      	
              v)  

            	
              Price
      differentials are derived from revenue statements, compared to actual
      posted prices for the appropriate benchmark price over a period of several
      months for established properties or from discussions with the Company and
      our experience in the area for new or non-producing
      properties;

            

    

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

    
      	
              vi)  

            	
              Timing
      of Development Plans and Capital estimates are normally determined by
      discussions with the Company together with our experience and
      judgment.

            

    

    

    Product
Sales Arrangements

    

    The
Company does not have any "hedge" contracts in place at this time.

    

    Royalties

    

    A full
provision for Crown royalties under the latest regulations and incentive
programs for the Tarapur area have been included in this report.

    

    Under the
terms of the Production Sharing Agreement, all royalties and cess fees are paid
by the licensee, OGNC.

    

    Capital
Expenditures and Operating Costs

    

    Operating
costs and capital expenditures have been based on historical experience and
analogy where necessary and have not been escalated.

    

    Income
Tax Parameters

    

    Net cash
flows after consideration of corporate income tax have been included in this
report.

    

    The
Company has a seven year income tax holiday on production from this area. Once
the holiday period has expired, the Company can offset future income with their
share of sunk exploration and development capital. Once all sunk capital is
recovered, the net revenue from profit petroleum is taxable at a rate of 41.2%.
The majority of operating costs are deductible.

    

    Abandonment
and restoration costs, net of salvage, have been accounted for in the cash flow
forecasts for each level of reserves. Abandonment and restoration cost estimates
have been based on discussions with the Company and analogy with similar fields
in the area.

    

    

    

    
      
         

      

      
        12

        
          

        

      

      
         

      

    

     

    Economics

     

    

    The
economic analysis has been performed on a spread sheet format to account for all
the terms of the PSC.

    

    Constant
Price Parameters

    

     

    The price
used for each area in this report, in accordance with SEC regulation S-X rule
4-10, was the average price during the 12-month period prior to the ending date
of the period covered by the report, determined as an unweighted arithmetic
average of the first-day of-the-month price for each month within such period,
unless prices are defined by contractual arrangements, excluding escalations
based upon future conditions.

     

    Adjustments
for crude quality, gas heating value and NGL trucking and fractionation have
still been applied to the average prices to reflect actual prices being
received.  In addition, no escalation has been applied to either the
capital expenditures or operating costs.

    

    The
average price shown in the cash flows may differ from year to year due to
variations in the proportionate production volumes from each property relative
to the total.

    

    For the
purpose of US Security Exchange Commission filing, the results of the Constant
Prices and Cost case for proved and probable reserves are expressed in Canadian
dollars are presented in the Summary of Reserves and Economics
(SEC).

    

    

    
      
         

      

      
        13

        
          

        

      

      
         

      

    

    

    

    

    

    

    

    

    

    

    

    

    

    
      
         

      

      
        14

        
          

        

      

      
         

      

    

    TARAPUR,
INDIA

    INDEX

    

    

    Discussion

    

    Ownership

    Exploration and
Development

    Geology

    Reserves

    Production

    Product Prices

    Capital Expenditures

    Operating Costs

    Economics

    

    Attachments

    

    Figure
1:                      Well
Location Map

    

    Table
1:                 Schedule
of Lands, Interests and Royalty Burdens

    

    Figure
2:                 a)      Stratigraphic
Correlation Chart

    
      	
              b)  

            	
              Structural
      Model Map

            

    

    
      	
              c)  

            	
              Tarapur
      # 1 Well Log Analysis – Kalol

            

    

    
      	
              d)  

            	
              Tarapur
      # 5 Well Log Analysis – Kalol

            

    

    
      	
              e)  

            	
              Tarapur
      # P Well Log Analysis – Kalol

            

    

    
      	
              f)  

            	
              Tarapur
      # 6 Well Log Analysis – Kalol

            

    

    
      	
              g)  

            	
              Tarapur
      # G Well Log Analysis – Kalol

            

    

    
      	
              h)  

            	
              Tarapur
      # 4 Well Log Analysis – Kalol

            

    

    
      	
              i)  

            	
              Tarapur
      # 4 Well Log Analysis – Cambay

            

    

    
      	
              j)  

            	
              Tarapur
      # G Well Log Analysis – Cambay

            

    

    
      	
              k)  

            	
              TA-6A1
      Well Log Analysis – Kalol

            

    

    
      	
              l)  

            	
              TA-6A2
      Well Log Analysis – Kalol

            

    

    
      	
              m)  

            	
              TA-6A3
      Well Log Analysis – Kalol

            

    

    
      	
              n)  

            	
              TA-6A4
      Well Log Analysis – Kalol

            

    

    
      	
              o)  

            	
              TA-6A5
      Well Log Analysis – Kalol

            

    

    
      	
              p)  

            	
              TA-6A6
      Well Log Analysis – Kalol

            

    

    
      	
              q)  

            	
              TA-6A7
      Well Log Analysis – Kalol

            

    

    
      	
              r)  

            	
              TAR
      MAIN-TD1 Well Log Analysis – Kalol

            

    

    
      	
              s)  

            	
              TAR
      MAIN-TD2 Well Log Analysis – Kalol

            

    

    
      	
              t)  

            	
              TAR
      MAIN-TD3 Well Log Analysis – Kalol

            

    

    

    Figure
3:                 Production
History Plots

    
      	
              a)  

            	
              Tarapur
      #1- Kalol, Rate vs. Time

            

    

    
      	
              b)  

            	
              Tarapur
      #P- Kalol, Rate vs. Time

            

    

    
      	
              c)  

            	
              Tarapur
      #5- Kalol, Rate vs. Time

            

    

    
      	
              d)  

            	
              TAR
      MAIN-TD2- Kalol, Rate vs. Time

            

    

    
      	
              e)  

            	
              TAR
      MAIN-TD3- Kalol, Rate vs. Time

            

    

    

    

    

    

    
      
         

      

      
        15

        
          

        

      

      
         

      

    

    Table
2:                          Summary
of Gross Reserves

    

    Summary of Gross Reserves and
Reservoir Parameters

    Proved Developed
Producing

    
      	
              a)  

            	
              Tarapur
      #1- Kalol

            

    

    
      	
              b)  

            	
              Tarapur
      #P- Kalol

            

    

    
      	
              c)  

            	
              Tarapur
      #5- Kalol

            

    

    
      	
              d)  

            	
              TAR
      MAIN-TD2 - Kalol

            

    

    
      	
              e)  

            	
              TAR
      MAIN-TD3 - Kalol

            

    

    

    Proved Developed
Non-Producing

    
      	
              f)  

            	
              TAR
      MAIN-TD1 - Kalol

            

    

    

    Probable
Developed

    
      	
              g)  

            	
              Tarapur
      # 6, Kalol

            

    

    
      	
              h)  

            	
              TA6-A1,
      Kalol

            

    

    
      	
              i)  

            	
              TA6-A2,
      Kalol

            

    

    
      	
              j)  

            	
              TA6-A3,
      Kalol

            

    

    
      	
              k)  

            	
              TA6-A4,
      Kalol

            

    

    
      	
              l)  

            	
              TA6-A5,
      Kalol

            

    

    
      	
              m)  

            	
              TA6-A6,
      Kalol

            

    

    
      	
              n)  

            	
              TA6-A7,
      Kalol

            

    

    
      	
              o)  

            	
              Tarapur
      # 4, Kalol

            

    

    
      	
              p)  

            	
              Tarapur
      # G, Kalol

            

    

    

    Table
3:               Summary
of Anticipated Capital Expenditures

    a)       Development

    b)       Abandonment and
Restoration

    

    Table
4:                                Summary
of Company Reserves and Economics

    

    Production, Capital, and
Cash Flow Forecasts

    
      	
              a)  

            	
              Proved
      Developed Producing

            

    

    
      	
              b)  

            	
              Total
      Proved

            

    

    
      	
              c)  

            	
              Proved
      Plus Probable

            

    

    

    

    
      
         

      

      
        16

        
          

        

      

      
         

      

    

     

    TARAPUR,
INDIA

     

    DISCUSSION

    

    

     

    Ownership

     

    

    The
Company Geoglobal Resources (Barbados) Inc. owns a 14% participating interest in
certain wells and 399,808 acres of land included in the Phase III development
plan in Block CB-ON2 of the Tarapur area of India.  At present this
area contains five tested wells, as shown on Figure 1.

     

    

     

    A
detailed description of the lands, interests and royalty burdens for this
property is presented in Table 1.  All royalties and cess fees are
paid by the licensee; ONGC.

     

    

     

    
      	
               
      

            	
              Exploration
      and Development

            

    

     

    

     

    The
Production Sharing Contract (PSC) for Block CB-ON/2 was signed on 12th April, 2000 between
GSPC-HOEC-ONGC1 and the Government of India, with GSPC and HOEC each holding a
50% participating interest.  ONGC has exercised the right to take a
30% participating interest as per Article: 13.2 of the PSC, which has reduced
each partner’s interest accordingly.

    

    A
Petroleum Exploration License (PEL) was granted on 22nd
November, 2000 and exploration activities committed under Phase-I were completed
on 21st
November, 2002 when HOEC elected to walk out and then GSPC took over HOEC with
100% Participating Interest.

    

    GSPC as
Operator evaluated the hydrocarbon potential of Block CB-ON/2 using existing 2D
seismic data (4200lkm) shot by NOC.  On the basis of this seismic
interpretation, six structural and strati-structural leads were
identified.

    

    During
Phase-II, GSPC drilled the Tarapur # 1 discovery well and then Tarapur # P as an
appraisal well.  Both of the wells flowed oil in commercial
quantities.

    

    

      

    

     

      1 GSPC is
Gujarat State Petroleum Corporation Limited, HOEC is Hindustan Oil Exploration
Company Limited, ONGC is Oil and Natural Gas Corporation
Limited.

    

    
      
         

      

      
        17

        
          

        

      

      
         

      

    

    GSPC
entered Phase-III on November 22, 2005 to retain the whole block area. GSPC
drilled five wells by April, 2006 and then two more exploratory wells identified
on the basis of amplitude anomaly.  Tarapur # 5 proved to be oil
bearing which established the extent of oil reservoir discovered in Tarapur # 1
whereas Tarapur # 7 did not show any presence of hydrocarbon and was
abandoned.

    

    GSPC
acquired, processed and interpreted 560 sq km of additional 3D seismic and
identified new leads for future drilling.

    

    The
Operator’s Phase III development included drilling three additional wells on the
main structure encountered by Tarapur # 1, P and 5 and an additional seven wells
on the structure encountered by Tarapur # 6.

    

    On May 4,
2009 the Management committee approved the Tarapur 1 field development plan
which covers an area of approximately 2.14 sq. km. within the Tarapur 1
Discovery Area of approximately 9.7 sq. km. and includes three existing
discovery wells (Tarapur 1, Tarapur P and Tarapur 5) and three development
wells (TD-1, TD-2 and TD-3).  Five of these wells are tied into the
oil tank storage facilities by way of a gathering system.

    

    As of the
effective date of this report, the operator has successfully initiated
production from five of six wells on the main structure.  Four of the
wells have encountered issues with low permeability and gas
breakthrough.  The operator is reviewing options available to
remediate these problems.

    

     

    Geology

     

    

    The
Company’s lands in this area have oil and gas production from the Tertiary
Middle Eocene Kalol formation that is well developed in the North Cambay
Basin2.  The Kalol Formation has been subdivided from bottom to top
into three members: Sertha, Kansari and Wavel.  The Kalol was
deposited under alternating regressive and transgressive regimes in a deltaic
environment.  The regressive phases led to the deposition of the Wavel
and Sertha members, and the transgressive phase led to the deposition of the
Kansari Shale.

    

    The
Cambay rift Basin, a rich Petroleum Province of India is a narrow, elongated
rift graben, extending from Surat in the south to Sanchor in the
north.  The general orientation of the basinal axis is NNW-SSE, which
swings to north-south in the northern part near Tharad.  Based on
major transverse basement ridges and fault systems, the basin is subdivided into
five tectonic blocks, one of which is called the Tarapur–Cambay where Block
CB-ON2 is situated.  Each of the five tectonic blocks contains an
independent depocenter.

     

     

    
      
         

      

      
        18

        
          

        

      

      
         

      

    

    
 

    The Kalol
Formation is the main reservoir in the northern Cambay Basin as seen in Figure
2: Stratigraphy.

    

    The Kalol
is dominated by argillaceous sediments with only thinly developed sandstones and
common oolitic sediments.  These sediments are interbedded with
locally well developed coals that show the characteristic low density response
on wireline logs.

    

    The Kalol
Formation over most of the area of Block CB-ONN-2000/1 is considered to
represent a variably condensed horizon deposited in a series of shallow water,
restricted lagoons and bays, possibly with an estuarine
character.  The oolitic sediments are commonly associated with thin
coal horizons and in some cases may even represent pedogenic (soil related)
coated grains.  In either case, the oolitic sediments represent
iron-rich oolites that occur in a clay matrix and are associated with abundant
early diagenetic cements such as siderite and pyrite.  These sediments
contain negligible intergranular porosity and they form poor to very poor
quality reservoirs.

    

    The net
pay in the Kalol varies from 8 to 19 metres with an effective porosity from 20
to 25 percent.  The key to commercial oil production from this Kalol
pool is the use of hydraulic fracturing treatments with proppant to reduce skin
damage and increase permeability.

    

     

    Reserves

     

    

    
      	
               
      

            	
              Total
      proved oil reserves of 840 MSTB have been estimated for this area as
      described below.

            

    

    

    
      	
               
      

            	
              Total
      proved developed producing oil reserves have been estimated to be 710 MSTB
      for the five producing wells based on reservoir parameters derived from
      log analysis, as well as current production
  performance.

            

    

    

    
      	
               
      

            	
              Proved
      developed non-producing reserves of 130 MSTB have been estimated for the
      well TAR-TD1 based on reservoir parameters derived from log analysis, in
      addition to analogy with the currently producing
  wells.

            

    

    

    

    

      

    

     

      2           Robertson
Research International Limited, Report No. 8744/IId FEBRUARY
2004,  and

      INFORMATION
DOCKET - CAMBAY BASIN,  DGH 2005

    

    
      
         

      

      
        19

        
          

        

      

      
         

      

    

    Probable
developed producing incremental oil reserves of 730 MSTB have been estimated for
the five producing wells, assuming that the operator will re-complete these
wells as “slot frac hole” completions.  This is hoped to remediate
issues with low permeability and high gas to oil ratios.  The same
reservoir parameters were used as in the proved case, but higher overall
recovery factors were attributed to the planned re-completion.

    

    
      	
               
      

            	
              Probable
      developed non-producing incremental oil reserves of 127 MSTB have been
      assigned to the well TAR-TD1 based on reservoir parameters derived from
      log analysis, and assuming a higher overall recovery factor from the
      planned “slot frac hole”
re-completion.

            

    

    

    
      	
               
      

            	
              Probable
      developed non-producing oil reserves of 2,318 MSTB have been assigned to
      the 8 wells on the Tarapur # 6 structure and the Tarapur # 4
      well.  These reserves were assigned based on reservoir
      parameters derived from log analysis, and analogy with currently producing
      wells.  It is anticipated that all these wells will be
      re-completed as “slot frac hole” completions before they are put on
      production.

            

    

    

    
      	
               
      

            	
              Probable
      developed non-producing marketable non-associated gas reserves of 4,469
      MMscf have been assigned to the well Tarapur # G based on reservoir
      parameters derived from log
analysis.

            

    

    

    
      	
               
      

            	
              Probable
      undeveloped reserves of 490 MMscf have been assigned to one development
      location planned for the Tarapur # 4 structure.  These reserves
      were based on reservoir parameters derived from the log analysis of
      Tarapur # 4, in addition to analogy with currently producing
      wells.

            

    

     

    Production

     

    

    Production
from this property currently averages 322 STB/d from five producing
wells.  Production from the well TAR-TD1 is expected to commence in
January of 2010 at a rate of 50 STB/d.  In 2012, production from the
six wells on the main structure is anticipated to increase to 650 STB/d as a
result of re-completing the wells as “slot frac hole” completions.

    

    Production
from the wells on the Tarapur # 6 structure is anticipated to commence in
January of 2012 at a combined rate of 910 STB/d.

    

    Production
from the wells on the Tarapur # 4 structure is anticipated to commence in
January of 2013 at a combined rate of 400 STB/d.

    

    All
production rates are expected to decline over the lives of the wells towards an
eventual economic limit.

    
      
         

      

      
        20

        
          

        

      

      
         

      

    

    Product
Prices

    

    A
constant price of $57.80/STB for oil and $7.00/Mscf of gas have been utilized
for all years in the economics analysis. The Oil price was calculating using a
$4.51/STB deduction from the average of the Bonny Light index price during the
12 month period prior to the effective date of this report, determined as an
unweighted arithmetic average of the first-day-of-the-month price for each
month. The gas price is based on current contractual arrangement the Company has
in place to market the gas produced from this property.

    

    These prices were calculated
according to the new SEC pricing guidelines

    

    Capital
Expenditures

    

    Total
capital expenditures of $12,750,000 have been anticipated for this property in
the Probable case, ($1,875,000 net to the Company), as presented in Table
3a.

    

    Abandonment and restoration costs (net
of salvage) of $600,000 ($84,000 net to the Company) in the proved case, and
$1,700,000 ($278,000 net to the Company) in the proved plus probable case have
been estimated for this area, as presented in Table 3b.

    

    Estimates
were based on experience with similar fields in the area, and discussions with
the Company.

    

    Operating
Costs

    

    Fixed costs have been estimated at
$200,000 per year, plus $100,000 per year per active well.  Variable
costs have been estimated at $2.66/STB and $0.35/Mscf.  These estmate
are based on revenue statements supplied by the Company.

    

    Economics

    

    The
economic analysis for this property has been presented in a spreadsheet format,
to accommodate the terms of the government royalty and tax scheme.

    

    
      
         

      

      
        21

        
          

        

      

      
         

      

    

    The
production and capital forecasts, production splits and Company cash flows are
presented for proved developed non-producing reserves in Table 4a, for Total
Proved reserves in Table 4b, and for proved plus probable reserves in Table
4c.

    

    The oil
and gas production and capital expenditures forecast is shown on Page
1.

    

    The
revenues, royalties, operating costs and production splits are shown on Page
2.

    

    The ‘R’
factor and tax calculations, as well as the discounted and undiscounted company
net cash flows are presented on Page 3.

     

    

     

    

    

    
      
         

      

      
        22

        
          

        

      

      
         

      

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    
      
         

      

      
        23

        
          

        

      

      
         

      

    

    

    

    
      	
              
Table 1

            
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
              Schedule
      of Lands, Interests and Royalty Burdens

            
	
              January
      1, 2010

            
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
              GeoGlobal
      Resources Inc.

            
	
              Tarapur,
      India

            
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	
              Appraised
      Interest

            	 
      	
               Royalty
      Burdens

            
	 
      	 
      	 
      	
              Rights

            	 
      	
              Gross

            	 
      	
              Working

            	 
      	
              Royalty

            	 
      	
               Basic

            	 
      	
              Overriding

            
	
              Description

            	 
      	
              Owned

            	 
      	
              Acres

            	 
      	
              %

            	 
      	
              %

            	 
      	
               %

            	 
      	
              %

            
	
              Tarapur
      CB-ON/2

            	 
      	
              [A]

            	 
      	
                       399,808

            	 
      	 
      	
                  14.0000

            	
              [1],[2]

            	
               -

            	 
      	
               -

            	
              [3]

            	 
      	 
      	
               -

            
	
              Well
      TAR-1

            	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
              Well
      TAR-P

            	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
              Well
      TAR-5

            	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
              Well
      TAR-TD1

            	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
              Well
      TAR-TD2

            	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
              Well
      TAR-TD3

            	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
              Well
      TAR-6

            	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
              Well
      TAR-6-A1

            	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
              Well
      TAR-6-A2

            	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
              Well
      TAR-6-A3

            	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
              Well
      TAR-6-A4

            	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
              Well
      TAR-6-A5

            	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
              Well
      TAR-6-A6

            	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
              Well
      TAR-6-A7

            	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
              Well
      TAR-G

            	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
              Well
      TAR-4

            	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
              Loc.
      TAR-4-D1

            	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	
              Total

            	 
      	
                  399,808

            	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	
              Rights
      Owned :

            	
              [A]
      All P&NG.

            	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	
              General
      Notes:

            	
              [1]

            	
              ONGC
      has chosen to increase their share an additional 30%, reducing the
      Company’s interest

            
	 
      	 
      	
              [2]

            	
              See
      the Production Sharing Contract for detailed description of profit/cost
      petroleum split.

            	 
      
	 
      	 
      	
              [3]

            	
              All
      royalties paid by ONGC

            	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      

    

    

    

    

    
      
         

      

      
        24

        
          

        

      

      
         

      

    

    

    

    

    

    

    

    

    

    

    

    

    

    
      
         

      

      
        25

        
          

        

      

      
         

      

    

    

    

    

    

    

    

    

    

    

    

    

    

    
      
         

      

      
        26

        
          

        

      

      
         

      

    

    

    

    

    

    

    

    

    

    

    

    

    
      
         

      

      
        27

        
          

        

      

      
         

      

    

    

    

    

    

    

    

    

    

    

    

    

    

    
      
         

      

      
        28

        
          

        

      

      
         

      

    

    

    

    

    

    

    

    

    

    

    

    

    
      
         

      

      
        29

        
          

        

      

      
         

      

    

    

    

    

    

    

    

    

    

    

    

    

    
      
         

      

      
        30

        
          

        

      

      
         

      

    

    

    

    

    

    

    

    

    

    

    

    
      
         

      

      
        31

        
          

        

      

      
         

      

    

    

    

    

    

    

    

    

    

    

    

    

    
      
         

      

      
        32

        
          

        

      

      
         

      

    

    

    

    

    

    

    

    

    

    

    

    

    
      
         

      

      
        33

        
          

        

      

      
         

      

    

    

    

    

    

    

    

    

    

    

    

     

    

    
      
         

      

      
        34

        
          

        

      

      
         

      

    

    

    

    

    

    

    

    

    

    

    

    

    

    
      
         

      

      
        35

        
          

        

      

      
         

      

    

    

    

    

    

    

    

    

    

    

    

     

    

    
      
         

      

      
        36

        
          

        

      

      
         

      

    

    

    

    

    

    

    

    

    

    

    

    

    

    
      
         

      

      
        37

        
          

        

      

      
         

      

    

    

    

    

    

    

    

    

    

    

    

    

    

    
      
         

      

      
        38

        
          

        

      

      
         

      

    

    

    

    

    

    

    

    

    

    

    

    

    

    
      
         

      

      
        39

        
          

        

      

      
         

      

    

    

    

    

    

    

    

    

    

    

    

    

    
      
         

      

      
        40

        
          

        

      

      
         

      

    

    

    

    

    

    

    

    

    

    

    

    

    

    
      
         

      

      
        41

        
          

        

      

      
         

      

    

    

    

    

    

    

    

    

    

    

    

    

    

    
      
         

      

      
        42

        
          

        

      

      
         

      

    

    

    

    

    

    

    

    

    

    

    

    

    
      
         

      

      
        43

        
          

        

      

      
         

      

    

    

    

    

    

    

    

    

    

    

    

    
      
         

      

      
        44

        
          

        

      

      
         

      

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    
      
         

      

      
        45

        
          

        

      

      
         

      

    

    

    

    

    

    

    
      
         

      

      
        46

        
          

        

      

      
         

      

    

    

    

    

    

    

    

    

    
      
         

      

      
        47

        
          

        

      

      
         

      

    

    

    

    

    
      
         

      

      
        48

        
          

        

      

      
         

      

    

    

    

    

    

    

    
      
         

      

      
        49

        
          

        

      

      
         

      

    

    

    

    

    
      	
              
 

               

              Table
      2

            	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
              Summary
      of Gross Reserves

            	 
      
	
              January
      1, 2010

            	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
              Tarapur,
      India

            	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	
              Current
      or

            	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	
              Initial

            	 
      	
              API

            	 
      	
              Ultimate

            	 
      	
              Cum

            	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	
              Rate

            	 
      	 
      	 
      	
              ROIP

            	 
      	
              Prod.

            	 
      	
              ROIP

            	 
      	 
      	 
      	 
      
	
              Description

            	 
      	
              STB/d

            	 
      	
              (Deg)

            	 
      	
              (MSTB)

            	 
      	
              (MSTB)

            	 
      	
              (MSTB)

            	 
      	
              Reference

            	 
      	 
      
	
              LIGHT
      & MEDIUM OIL

            	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
              Proved Developed Producing

            	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
              TAR
      - 1

            	 
      	
              Kalol
      (main structure)

            	 
      	
              50

            	 
      	
              45

            	 
      	
              156

            	 
      	
              14

            	 
      	
              142

            	 
      	
              Table
      2a

            	 
      	 
      
	
              TAR
      - P

            	 
      	
              Kalol
      (main structure)

            	 
      	
              37

            	 
      	
              45

            	 
      	
              104

            	 
      	
              11

            	 
      	
              93

            	 
      	
              Table
      2b

            	 
      	 
      
	
              TAR
      - 5

            	 
      	
              Kalol
      (main structure)

            	 
      	
              150

            	 
      	
              45

            	 
      	
              261

            	 
      	
              35

            	 
      	
              226

            	 
      	
              Table
      2c

            	 
      	 
      
	
              TAR
      - TD2

            	 
      	
              Kalol
      (main structure)

            	 
      	
              40

            	 
      	
              45

            	 
      	
              130

            	 
      	
              5

            	 
      	
              125

            	 
      	
              Table
      2d

            	 
      	 
      
	
              TAR
      - TD3

            	 
      	
              Kalol
      (main structure)

            	 
      	
              45

            	 
      	
              45

            	 
      	
              130

            	 
      	
              6

            	 
      	
              125

            	 
      	
              Table
      2e

            	 
      	 
      
	
                     Total
      Proved Developed Producing

            	 
      	
              322

            	 
      	 
      	 
      	
              781

            	 
      	
              71

            	 
      	
              710

            	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
              Proved Developed
    Non-Producing

            	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
              TAR
      - TD1

            	 
      	
              Kalol
      (main structure)

            	 
      	
              50

            	
              Jan-10

            	
              45

            	 
      	
              130

            	 
      	
              0

            	 
      	
              130

            	 
      	
              Table
      2f

            	 
      	 
      
	
              Total
      Proved Developed Non-Producing

            	 
      	 
      	 
      	 
      	
              130

            	 
      	
              0

            	 
      	
              130

            	 
      	 
      	 
      	 
      
	 
      	 
      	
              Total
      Proved

            	 
      	 
      	 
      	 
      	 
      	
              911

            	 
      	
              0

            	 
      	
              840

            	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
              Probable

            	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
              Probable
      Developed Producing

            	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
              TAR
      - 1

            	 
      	
              Kalol
      (main structure)

            	
              (Incr.)

            	 
      	 
      	
              45

            	 
      	
              96

            	 
      	
              0

            	 
      	
              96

            	 
      	
              Table
      2a, Figure 3a

            	 
      
	
              TAR
      - P

            	 
      	
              Kalol
      (main structure)

            	
              (Incr.)

            	 
      	 
      	
              45

            	 
      	
              116

            	 
      	
              0

            	 
      	
              116

            	 
      	
              Table
      2b, Figure 3b

            	 
      
	
              TAR
      - 5

            	 
      	
              Kalol
      (main structure)

            	
              (Incr.)

            	 
      	 
      	
              45

            	 
      	
              242

            	 
      	
              0

            	 
      	
              242

            	 
      	
              Table
      2c, Figure 3c

            	 
      
	
              TAR
      - TD2

            	 
      	
              Kalol
      (main structure)

            	
              (Incr)

            	 
      	 
      	
              45

            	 
      	
              139

            	 
      	
              0

            	 
      	
              139

            	 
      	
              Table
      2d, Figure 3d

            	 
      
	
              TAR
      - TD3

            	 
      	
              Kalol
      (main structure)

            	
              (Incr)

            	 
      	 
      	
              45

            	 
      	
              137

            	 
      	
              0

            	 
      	
              137

            	 
      	
              Table
      2e, Figure 3e

            	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
              Probable
      Developed Non-Producing

            	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
              TAR
      - TD1

            	 
      	
              Kalol
      (main structure)

            	
              (Incr)

            	
              50

            	
              Jan-10

            	
              45

            	 
      	
              127

            	 
      	
              0

            	 
      	
              127

            	 
      	
              Table
      2f

            	 
      	 
      
	
              TAR-6

            	 
      	
              Kalol

            	 
      	
              130

            	
              Jan-12

            	
              45

            	 
      	
              261

            	 
      	
              0

            	 
      	
              261

            	 
      	
              Table
      2g

            	 
      	 
      
	
              TAR-6-A1

            	 
      	
              Kalol

            	 
      	
              120

            	
              Jan-12

            	
              45

            	 
      	
              256

            	 
      	
              0

            	 
      	
              256

            	 
      	
              Table
      2h

            	 
      	 
      
	
              TAR-6-A2

            	 
      	
              Kalol

            	 
      	
              120

            	
              Jan-12

            	
              45

            	 
      	
              268

            	 
      	
              0

            	 
      	
              268

            	 
      	
              Table
      2i

            	 
      	 
      
	
              TAR-6-A3

            	 
      	
              Kalol

            	 
      	
              120

            	
              Jan-12

            	
              45

            	 
      	
              225

            	 
      	
              0

            	 
      	
              225

            	 
      	
              Table
      2j

            	 
      	 
      
	
              TAR-6-A4

            	 
      	
              Kalol

            	 
      	
              90

            	
              Jan-12

            	
              45

            	 
      	
              171

            	 
      	
              0

            	 
      	
              171

            	 
      	
              Table
      2k

            	 
      	 
      
	
              TAR-6-A5

            	 
      	
              Kalol

            	 
      	
              130

            	
              Jan-12

            	
              45

            	 
      	
              256

            	 
      	
              0

            	 
      	
              256

            	 
      	
              Table
      2l

            	 
      	 
      
	
              TAR-6-A6

            	 
      	
              Kalol

            	 
      	
              100

            	
              Jan-12

            	
              45

            	 
      	
              198

            	 
      	
              0

            	 
      	
              198

            	 
      	
              Table
      2m

            	 
      	 
      
	
              TAR-6-A7

            	 
      	
              Kalol

            	 
      	
              100

            	
              Jan-12

            	
              45

            	 
      	
              193

            	 
      	
              0

            	 
      	
              193

            	 
      	
              Table
      2n

            	 
      	 
      
	
              TAR
      4

            	 
      	
              Kalol

            	 
      	
              200

            	
              Jan-13

            	
              45

            	 
      	
              490

            	 
      	
              0

            	 
      	
              490

            	 
      	
              Table
      2o

            	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
              Probable
      Undeveloped

            	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
              Loc.
      TAR-4-D1

            	
              Kalol

            	 
      	
              200

            	
              Jan-13

            	
              45

            	 
      	
              490

            	 
      	
              0

            	 
      	
              490

            	 
      	
              Table
      2o

            	 
      	 
      
	 
      	 
      	
              Total
      Probable

            	 
      	 
      	 
      	 
      	 
      	
              3,665

            	 
      	
              0

            	 
      	
              3,665

            	 
      	 
      	 
      	 
      
	
                                 Total
      Proved Plus Probable

            	 
      	 
      	 
      	 
      	 
      	
              4,576

            	 
      	
              0

            	 
      	
              4,505

            	 
      	 
      	 
      	 
      

    

     

     

    
 

    
      
         

      

      
        50

        
          

        

      

      
         

      

    

    
      	
              
Table  2

            	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
              Summary
      of Gross Reserves

            	 
      
	
              January
      1, 2010

            	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
              Tarapur,
      India

            	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	
              Current
      or

            	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	
              Initial

            	 
      	
              Ultimate

            	 
      	
              Cumulative

            	 
      	
              Remaining

            	 
      	
              Remaining

            	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	
              Rate

            	 
      	
              RGIP

            	 
      	
              Production

            	 
      	
                RGIP
      (raw)

            	 
      	
                RGIP
      (sales)

            	 
      	 
      	 
      	 
      	 
      
	
              Description

            	 
      	
              Mscf/d

            	 
      	
              (MMscf)

            	 
      	
              (MMscf)

            	 
      	
              (MMscf)

            	 
      	
              (MMscf)

            	 
      	 
      	
              Reference

            	 
      	 
      
	
              ASSOCIATED AND NON-ASSOCIATED
      GAS

            	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
              Probable Developed Non-Producing
      (Incremental)

            	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
              TAR
      G

            	 
      	
              Kalol

            	
              (Incr.)

            	
              1,500

            	 
      	
              4,805

            	 
      	
              0

            	 
      	
              4,805

            	 
      	
              4,469

            	 
      	 
      	
              Table
      2o

            	 
      	 
      
	 
      	 
      	
              Total
      Probable

            	 
      	 
      	 
      	
              4,805

            	 
      	
              0

            	 
      	
              4,805

            	 
      	
              4,469

            	 
      	 
      	 
      	 
      	 
      
	
              Total
      Proved Plus Probable

            	 
      	 
      	 
      	
              4,805

            	 
      	
              0

            	 
      	
              4,805

            	 
      	
              4,469

            	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
              SOLUTION
      GAS

            	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
              Proved

            	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
              Total
      Proved Solution Gas

            	 
      	
              208

            	 
      	
              680

            	 
      	
              0

            	 
      	
              680

            	 
      	
              632

            	 
      	 
      	
              Table
      4b

            	 
      	 
      
	 
      	 
      	
              Total
      Proved

            	 
      	 
      	 
      	
              680

            	 
      	
              0

            	 
      	
              680

            	 
      	
              632

            	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
              Probable

            	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
              Total
      Probable Solution Gas

            	
              (Incr.)

            	 
      	 
      	
              537

            	 
      	
              0

            	 
      	
              537

            	 
      	
              500

            	 
      	 
      	
              Table
      4c

            	 
      	 
      
	 
      	 
      	
              Total
      Probable

            	 
      	 
      	 
      	
              537

            	 
      	
              0

            	 
      	
              537

            	 
      	
              500

            	 
      	 
      	 
      	 
      	 
      
	
              Total
      Proved Plus Probable

            	 
      	 
      	 
      	
              1,217

            	 
      	
              0

            	 
      	
              1,217

            	 
      	
              1,132

            	 
      	 
      	 
      	 
      	 
      

    

    

    

    

    

    

    

    

    

    

    
      
         

      

      
        51

        
          

        

      

      
         

      

    

    

    
      	
              Table
      2a

            
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	
              SUMMARY
      OF GROSS RESERVES AND RESERVOIR PARAMETERS

            
	
              January
      1, 2010

            
	 
      	 
      	 
      	 
      	 
      
	
              Tarapur,
      India

            
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
              Tarapur
      1 Kalol (1)

            
	 
      	 
      	
              Proved

            	 
      	
              Proved

            
	 
      	 
      	
              Developed
      Producing

            	 
      	
              Plus
      Probable

            
	 
      	 
      	 
      	 
      	 
      
	
              PRODUCT
      TYPE

            	 
      	 
      	 
      
	 
      	
              Light
      and Medium Oil

            	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	
              RESERVOIR
      PARAMETERS

            	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	
              Reservoir
      Pressure, psia

            	
              3,313

            	 
      	
              3,313

            
	 
      	
              Reservoir
      Temperature, deg F

            	
              230

            	 
      	
              230

            
	 
      	
              Average
      Porosity, %

            	
              21.9

            	 
      	
              21.9

            
	 
      	
              Average
      Water Saturation, %

            	
              33.3

            	 
      	
              33.3

            
	 
      	
              Formation
      Volume Factor, RB/STB

            	
              1.250

            	 
      	
              1.250

            
	 
      	 
      	 
      	 
      	 
      
	 
      	
              Petroleum
      Initially-in-Place, STB/ac.ft

            	
              906.6

            	 
      	
              906.6

            
	 
      	
              Recovery
      Factor, %

            	
              7.1

            	
              (2)

            	
              12

            
	 
      	 
      	 
      	 
      	 
      
	
              RESERVES

            	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	
              Net
      Pay, ft

            	
              27.5

            	 
      	
              27.5

            
	 
      	
              Area,
      acres

            	
              87

            	 
      	
              87

            
	 
      	 
      	 
      	 
      	 
      
	 
      	
              Petroleum
      Initially-in-Place, STB

            	
              2,188,986

            	 
      	
              2,188,986

            
	 
      	
              Reserves
      Initially-in-Place, STB

            	
              156,018

            	 
      	
              251,733

            
	 
      	
              Cumulative
      Production, STB

            	
              13,779

            	 
      	
              13,779

            
	 
      	
              Remaining
      Reserves, STB

            	
              142,239

            	 
      	
              237,953

            
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	
              Note:

            	
              (1)  Interval
      1477.5 - 1495.2 m KB

            	 
      	 
      	 
      
	 
      	
              (2)  Based
      on Production Performance

            	 
      	 
      	 
      

    

    

    
      
         

      

      
        52

        
          

        

      

      
         

      

    

    

    
      	
              Table
      2b

            
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	
              SUMMARY
      OF GROSS RESERVES AND RESERVOIR PARAMETERS

            
	
              January
      1, 2010

            
	 
      	 
      	 
      	 
      	 
      
	
              Tarapur,
      India

            
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
              Tarapur
      P Kalol (1)

            
	 
      	 
      	
              Proved

            	 
      	
              Proved

            
	 
      	 
      	
              Developed
      Producing

            	 
      	
              Plus
      Probable

            
	 
      	 
      	 
      	 
      	 
      
	
              PRODUCT
      TYPE

            	 
      	 
      	 
      
	 
      	
              Light
      and Medium Oil

            	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	
              RESERVOIR
      PARAMETERS

            	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	
              Reservoir
      Pressure, psia

            	
              2,740

            	 
      	
              2,740

            
	 
      	
              Reservoir
      Temperature, deg F

            	
              225

            	 
      	
              225

            
	 
      	
              Average
      Porosity, %

            	
              20.8

            	 
      	
              20.8

            
	 
      	
              Average
      Water Saturation, %

            	
              27.9

            	 
      	
              27.9

            
	 
      	
              Formation
      Volume Factor, RB/STB

            	
              1.250

            	 
      	
              1.250

            
	 
      	 
      	 
      	 
      	 
      
	 
      	
              Petroleum
      Initially-in-Place, STB/ac.ft

            	
              930.8

            	 
      	
              930.8

            
	 
      	
              Recovery
      Factor, %

            	
              3.3

            	
              (2)

            	
              7

            
	 
      	 
      	 
      	 
      	 
      
	
              RESERVES

            	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	
              Net
      Pay, ft

            	
              38.5

            	 
      	
              38.5

            
	 
      	
              Area,
      acres

            	
              87

            	 
      	
              87

            
	 
      	 
      	 
      	 
      	 
      
	 
      	
              Petroleum
      Initially-in-Place, STB

            	
              3,146,383

            	 
      	
              3,146,383

            
	 
      	
              Reserves
      Initially-in-Place, STB

            	
              104,012

            	 
      	
              220,247

            
	 
      	
              Cumulative
      Production, STB

            	
              11,056

            	 
      	
              11,056

            
	 
      	
              Remaining
      Reserves, STB

            	
              92,956

            	 
      	
              209,190

            
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	
              Note:

            	
              (1)  Interval
      1490.1 - 1507.4 m KB

            	 
      	 
      	 
      
	 
      	
              (2)  Based
      on Production Performance

            	 
      	 
      	 
      

    

    

    
      
         

      

      
        53

        
          

        

      

      
         

      

    

    

    
      	
              Table
      2c

            
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	
              SUMMARY
      OF GROSS RESERVES AND RESERVOIR PARAMETERS

            
	
              January
      1, 2010

            
	 
      	 
      	 
      	 
      	 
      
	
              Tarapur,
      India

            
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
              Tarapur
      5 Kalol (1)

            
	 
      	 
      	
              Proved

            	 
      	
              Proved

            
	 
      	 
      	
              Developed
      Producing

            	 
      	
              Plus
      Probable

            
	 
      	 
      	 
      	 
      	 
      
	
              PRODUCT
      TYPE

            	 
      	 
      	 
      
	 
      	
              Light
      and Medium Oil

            	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	
              RESERVOIR
      PARAMETERS

            	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	
              Reservoir
      Pressure, psia

            	
              3,331

            	 
      	
              3,331

            
	 
      	
              Reservoir
      Temperature, deg F

            	
              230

            	 
      	
              230

            
	 
      	
              Average
      Porosity, %

            	
              25.3

            	 
      	
              25.3

            
	 
      	
              Average
      Water Saturation, %

            	
              13.5

            	 
      	
              13.5

            
	 
      	
              Formation
      Volume Factor, RB/STB

            	
              1.250

            	 
      	
              1.250

            
	 
      	 
      	 
      	 
      	 
      
	 
      	
              Petroleum
      Initially-in-Place, STB/ac.ft

            	
              1358.2

            	 
      	
              1358.2

            
	 
      	
              Recovery
      Factor, %

            	
              4.1

            	
              (2)

            	
              8

            
	 
      	 
      	 
      	 
      	 
      
	
              RESERVES

            	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	
              Net
      Pay, ft

            	
              52.8

            	 
      	
              52.8

            
	 
      	
              Area,
      acres

            	
              87

            	 
      	
              87

            
	 
      	 
      	 
      	 
      	 
      
	 
      	
              Petroleum
      Initially-in-Place, STB

            	
              6,296,398

            	 
      	
              6,296,398

            
	 
      	
              Reserves
      Initially-in-Place, STB

            	
              261,258

            	 
      	
              503,712

            
	 
      	
              Cumulative
      Production, STB

            	
              35,473

            	 
      	
              35,473

            
	 
      	
              Remaining
      Reserves, STB

            	
              225,785

            	 
      	
              468,239

            
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	
              Note:

            	
              (1)  Interval
      1533.0 - 1556.5 m KB

            	 
      	 
      	 
      
	 
      	
              (2)  Based
      on Production Performance

            	 
      	 
      	 
      

    

    

    
      
         

      

      
        54

        
          

        

      

      
         

      

    

    

    
      	
              Table
      2d

            
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	
              SUMMARY
      OF GROSS RESERVES AND RESERVOIR PARAMETERS

            
	
              January
      1, 2010

            
	 
      	 
      	 
      	 
      	 
      
	
              Tarapur,
      India

            
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
              TD
      2  Kalol (1)

            
	 
      	 
      	
              Proved

            	 
      	
              Proved

            
	 
      	 
      	
              Developed
      Producing

            	 
      	
              Plus
      Probable

            
	 
      	 
      	 
      	 
      	 
      
	
              PRODUCT
      TYPE

            	 
      	 
      	 
      
	 
      	
              Light
      and Medium Oil

            	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	
              RESERVOIR
      PARAMETERS

            	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	
              Reservoir
      Pressure, psia

            	
              3,200

            	 
      	
              3,200

            
	 
      	
              Reservoir
      Temperature, deg F

            	
              230

            	 
      	
              230

            
	 
      	
              Average
      Porosity, %

            	
              13.4

            	 
      	
              13.4

            
	 
      	
              Average
      Water Saturation, %

            	
              26.9

            	 
      	
              26.9

            
	 
      	
              Formation
      Volume Factor, RB/STB

            	
              1.250

            	 
      	
              1.250

            
	 
      	 
      	 
      	 
      	 
      
	 
      	
              Petroleum
      Initially-in-Place, STB/ac.ft

            	
              607.9

            	 
      	
              607.9

            
	 
      	
              Recovery
      Factor, %

            	
              4.3

            	
              (2)

            	
              9

            
	 
      	 
      	 
      	 
      	 
      
	
              RESERVES

            	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	
              Net
      Pay, ft

            	
              56.1

            	 
      	
              56.1

            
	 
      	
              Area,
      acres

            	
              87

            	 
      	
              87

            
	 
      	 
      	 
      	 
      	 
      
	 
      	
              Petroleum
      Initially-in-Place, STB

            	
              2,994,260

            	 
      	
              2,994,260

            
	 
      	
              Reserves
      Initially-in-Place, STB

            	
              130,015

            	 
      	
              269,483

            
	 
      	
              Cumulative
      Production, STB

            	
              5,469

            	 
      	
              5,469

            
	 
      	
              Remaining
      Reserves, STB

            	
              124,546

            	 
      	
              264,013

            
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	
              Note:

            	
              (1)  Interval
      1538.7 - 1684.9 m KB

            	 
      	 
      	 
      
	 
      	
              (2)  Based
      on Production Performance

            	 
      	 
      	 
      

    

    

    
      
         

      

      
        55

        
          

        

      

      
         

      

    

    

    

    
      	
              Table
      2e

            
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	
              SUMMARY
      OF GROSS RESERVES AND RESERVOIR PARAMETERS

            
	
              January
      1, 2010

            
	 
      	 
      	 
      	 
      	 
      
	
              Tarapur,
      India

            
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
              TD
      3  Kalol (1)

            
	 
      	 
      	
              Proved

            	 
      	
              Proved

            
	 
      	 
      	
              Developed
      Producing

            	 
      	
              Plus
      Probable

            
	 
      	 
      	 
      	 
      	 
      
	
              PRODUCT
      TYPE

            	 
      	 
      	 
      
	 
      	
              Light
      and Medium Oil

            	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	
              RESERVOIR
      PARAMETERS

            	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	
              Reservoir
      Pressure, psia

            	
              3,200

            	 
      	
              3,200

            
	 
      	
              Reservoir
      Temperature, deg F

            	
              230

            	 
      	
              230

            
	 
      	
              Average
      Porosity, %

            	
              15.4

            	 
      	
              15.4

            
	 
      	
              Average
      Water Saturation, %

            	
              29.4

            	 
      	
              29.4

            
	 
      	
              Formation
      Volume Factor, RB/STB

            	
              1.250

            	 
      	
              1.250

            
	 
      	 
      	 
      	 
      	 
      
	 
      	
              Petroleum
      Initially-in-Place, STB/ac.ft

            	
              674.8

            	 
      	
              674.8

            
	 
      	
              Recovery
      Factor, %

            	
              4.9

            	
              (2)

            	
              10

            
	 
      	 
      	 
      	 
      	 
      
	
              RESERVES

            	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	
              Net
      Pay, ft

            	
              45.0

            	 
      	
              45.0

            
	 
      	
              Area,
      acres

            	
              87

            	 
      	
              87

            
	 
      	 
      	 
      	 
      	 
      
	 
      	
              Petroleum
      Initially-in-Place, STB

            	
              2,666,135

            	 
      	
              2,666,135

            
	 
      	
              Reserves
      Initially-in-Place, STB

            	
              130,070

            	 
      	
              266,614

            
	 
      	
              Cumulative
      Production, STB

            	
              5,524

            	 
      	
              5,524

            
	 
      	
              Remaining
      Reserves, STB

            	
              124,546

            	 
      	
              261,089

            
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	
              Note:

            	
              (1)  Interval
      1493.7 - 1620.9 m KB

            	 
      	 
      	 
      
	 
      	
              (2)  Based
      on Production Performance

            	 
      	 
      	 
      

    

    
      
         

      

      
        56

        
          

        

      

      
         

      

    

    

    
      	
              Table
      2f

            
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	
              SUMMARY
      OF GROSS RESERVES AND RESERVOIR PARAMETERS

            
	
              January
      1, 2010

            
	 
      	 
      	 
      	 
      	 
      
	
              Tarapur,
      India

            
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
              TD
      1  Kalol (1)

            
	 
      	 
      	
              Proved

            	 
      	
              Proved

            
	 
      	 
      	
              Developed
      Non-Producing

            	 
      	
              Plus
      Probable

            
	 
      	 
      	 
      	 
      	 
      
	
              PRODUCT
      TYPE

            	 
      	 
      	 
      
	 
      	
              Light
      and Medium Oil

            	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	
              RESERVOIR
      PARAMETERS

            	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	
              Reservoir
      Pressure, psia

            	
              3,200

            	 
      	
              3,200

            
	 
      	
              Reservoir
      Temperature, deg F

            	
              230

            	 
      	
              230

            
	 
      	
              Average
      Porosity, %

            	
              13.1

            	 
      	
              13.1

            
	 
      	
              Average
      Water Saturation, %

            	
              27.4

            	 
      	
              27.4

            
	 
      	
              Formation
      Volume Factor, RB/STB

            	
              1.250

            	 
      	
              1.250

            
	 
      	 
      	 
      	 
      	 
      
	 
      	
              Petroleum
      Initially-in-Place, STB/ac.ft

            	
              590.3

            	 
      	
              590.3

            
	 
      	
              Recovery
      Factor, %

            	
              5.6

            	
              (2)

            	
              11

            
	 
      	 
      	 
      	 
      	 
      
	
              RESERVES

            	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	
              Net
      Pay, ft

            	
              45.0

            	 
      	
              45.0

            
	 
      	
              Area,
      acres

            	
              87

            	 
      	
              87

            
	 
      	 
      	 
      	 
      	 
      
	 
      	
              Petroleum
      Initially-in-Place, STB

            	
              2,332,275

            	 
      	
              2,332,275

            
	 
      	
              Reserves
      Initially-in-Place, STB

            	
              130,016

            	 
      	
              256,550

            
	 
      	
              Cumulative
      Production, STB

            	
              0

            	 
      	
              0

            
	 
      	
              Remaining
      Reserves, STB

            	
              130,016

            	 
      	
              256,550

            
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	
              Note:

            	
              (1)  Interval
      1539.5 - 1688.7 m KB

            	 
      	 
      	 
      
	 
      	
              (2)  Based
      on Production Performance

            	 
      	 
      	 
      

    

    

    
      
         

      

      
        57

        
          

        

      

      
         

      

    

    

    
      	
              Table
      2g

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	
              SUMMARY
      OF GROSS RESERVES AND RESERVOIR PARAMETERS

            
	
              January
      1, 2010

            
	 
      	 
      	 
      
	
              Tarapur,
      India

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	
              Probable
      Developed Non-Producing

            
	 
      	 
      	
              Tarapur
      6  Kalol (1)

            
	 
      	 
      	 
      
	
              PRODUCT
      TYPE

            	 
      
	 
      	
              Light
      and Medium Oil

            	 
      
	 
      	 
      	 
      
	
              RESERVOIR
      PARAMETERS

            	 
      
	 
      	 
      	 
      
	 
      	
              Reservoir
      Pressure, psia

            	
              3,547

            
	 
      	
              Reservoir
      Temperature, deg F

            	
              232

            
	 
      	
              Average
      Porosity, %

            	
              23.1

            
	 
      	
              Average
      Water Saturation, %

            	
              24.2

            
	 
      	
              Formation
      Volume Factor, RB/STB

            	
              1.250

            
	 
      	 
      	 
      
	 
      	
              Petroleum
      Initially-in-Place, STB/ac.ft

            	
              1086.7

            
	 
      	
              Recovery
      Factor, %

            	
              6

            
	 
      	 
      	 
      
	
              RESERVES

            	 
      
	 
      	 
      	 
      
	 
      	
              Net
      Pay, ft

            	
              50.0

            
	 
      	
              Area,
      acres

            	
              80

            
	 
      	 
      	 
      
	 
      	
              Petroleum
      Initially-in-Place, STB

            	
              4,346,800

            
	 
      	
              Reserves
      Initially-in-Place, STB

            	
              260,808

            
	 
      	
              Cumulative
      Production, STB

            	
              0

            
	 
      	
              Remaining
      Reserves, STB

            	
              260,808

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	
              Note:

            	
              (1)  Interval
      1623.6 - 1648.8 m KB

            	 
      

    

    

    
      
         

      

      
        58

        
          

        

      

      
         

      

    

    

    
      	
              Table
      2h

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	
              SUMMARY
      OF GROSS RESERVES AND RESERVOIR PARAMETERS

            
	
              January
      1, 2010

            
	 
      	 
      	 
      
	
              Tarapur,
      India

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	
              Probable
      Developed Non-Producing

            
	 
      	 
      	
              Tar
      6-A1  Kalol (1)

            
	 
      	 
      	 
      
	
              PRODUCT
      TYPE

            	 
      
	 
      	
              Light
      and Medium Oil

            	 
      
	 
      	 
      	 
      
	
              RESERVOIR
      PARAMETERS

            	 
      
	 
      	 
      	 
      
	 
      	
              Reservoir
      Pressure, psia

            	
              3,200

            
	 
      	
              Reservoir
      Temperature, deg F

            	
              230

            
	 
      	
              Average
      Porosity, %

            	
              16.8

            
	 
      	
              Average
      Water Saturation, %

            	
              30.1

            
	 
      	
              Formation
      Volume Factor, RB/STB

            	
              1.250

            
	 
      	 
      	 
      
	 
      	
              Petroleum
      Initially-in-Place, STB/ac.ft

            	
              728.8

            
	 
      	
              Recovery
      Factor, %

            	
              8

            
	 
      	 
      	 
      
	
              RESERVES

            	 
      
	 
      	 
      	 
      
	 
      	
              Net
      Pay, ft

            	
              50.0

            
	 
      	
              Area,
      acres

            	
              87

            
	 
      	 
      	 
      
	 
      	
              Petroleum
      Initially-in-Place, STB

            	
              3,199,432

            
	 
      	
              Reserves
      Initially-in-Place, STB

            	
              255,955

            
	 
      	
              Cumulative
      Production, STB

            	
              0

            
	 
      	
              Remaining
      Reserves, STB

            	
              255,955

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	
              Note:

            	
              (1)  Interval
      1551.0 - 1790.8 m KB

            	 
      

    

    

    
      
         

      

      
        59

        
          

        

      

      
         

      

    

    

    
      	
              Table
      2i

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	
              SUMMARY
      OF GROSS RESERVES AND RESERVOIR PARAMETERS

            
	
              January
      1, 2010

            
	 
      	 
      	 
      
	
              Tarapur,
      India

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	
              Probable
      Developed Non-Producing

            
	 
      	 
      	
              Tar
      6-A2  Kalol (1)

            
	 
      	 
      	 
      
	
              PRODUCT
      TYPE

            	 
      
	 
      	
              Light
      and Medium Oil

            	 
      
	 
      	 
      	 
      
	
              RESERVOIR
      PARAMETERS

            	 
      
	 
      	 
      	 
      
	 
      	
              Reservoir
      Pressure, psia

            	
              3,200

            
	 
      	
              Reservoir
      Temperature, deg F

            	
              230

            
	 
      	
              Average
      Porosity, %

            	
              18.2

            
	 
      	
              Average
      Water Saturation, %

            	
              33.3

            
	 
      	
              Formation
      Volume Factor, RB/STB

            	
              1.250

            
	 
      	 
      	 
      
	 
      	
              Petroleum
      Initially-in-Place, STB/ac.ft

            	
              753.4

            
	 
      	
              Recovery
      Factor, %

            	
              9

            
	 
      	 
      	 
      
	
              RESERVES

            	 
      
	 
      	 
      	 
      
	 
      	
              Net
      Pay, ft

            	
              45.0

            
	 
      	
              Area,
      acres

            	
              87

            
	 
      	 
      	 
      
	 
      	
              Petroleum
      Initially-in-Place, STB

            	
              2,976,684

            
	 
      	
              Reserves
      Initially-in-Place, STB

            	
              267,902

            
	 
      	
              Cumulative
      Production, STB

            	
              0

            
	 
      	
              Remaining
      Reserves, STB

            	
              267,902

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	
              Note:

            	
              (1)  Interval
      1539.3 - 1784.3 m KB

            	 
      

    

    

    
      
         

      

      
        60

        
          

        

      

      
         

      

    

    

    
      	
              Table
      2j

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	
              SUMMARY
      OF GROSS RESERVES AND RESERVOIR PARAMETERS

            
	
              January
      1, 2010

            
	 
      	 
      	 
      
	
              Tarapur,
      India

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	
              Probable
      Developed Non-Producing

            
	 
      	 
      	
              Tar
      6-A3  Kalol (1)

            
	 
      	 
      	 
      
	
              PRODUCT
      TYPE

            	 
      
	 
      	
              Light
      and Medium Oil

            	 
      
	 
      	 
      	 
      
	
              RESERVOIR
      PARAMETERS

            	 
      
	 
      	 
      	 
      
	 
      	
              Reservoir
      Pressure, psia

            	
              3,200

            
	 
      	
              Reservoir
      Temperature, deg F

            	
              230

            
	 
      	
              Average
      Porosity, %

            	
              24.2

            
	 
      	
              Average
      Water Saturation, %

            	
              31.9

            
	 
      	
              Formation
      Volume Factor, RB/STB

            	
              1.250

            
	 
      	 
      	 
      
	 
      	
              Petroleum
      Initially-in-Place, STB/ac.ft

            	
              1022.8

            
	 
      	
              Recovery
      Factor, %

            	
              10

            
	 
      	 
      	 
      
	
              RESERVES

            	 
      
	 
      	 
      	 
      
	 
      	
              Net
      Pay, ft

            	
              25.0

            
	 
      	
              Area,
      acres

            	
              87

            
	 
      	 
      	 
      
	 
      	
              Petroleum
      Initially-in-Place, STB

            	
              2,245,046

            
	 
      	
              Reserves
      Initially-in-Place, STB

            	
              224,505

            
	 
      	
              Cumulative
      Production, STB

            	
              0

            
	 
      	
              Remaining
      Reserves, STB

            	
              224,505

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	
              Note:

            	
              (1)  Interval
      1541.37 - 1742.8 m KB

            	 
      

    

    

    
      
         

      

      
        61

        
          

        

      

      
         

      

    

    

    
      	
              Table
      2k

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	
              SUMMARY
      OF GROSS RESERVES AND RESERVOIR PARAMETERS

            
	
              January
      1, 2010

            
	 
      	 
      	 
      
	
              Tarapur,
      India

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	
              Probable
      Developed Non-Producing

            
	 
      	 
      	
              Tar
      6-A4  Kalol (1)

            
	 
      	 
      	 
      
	
              PRODUCT
      TYPE

            	 
      
	 
      	
              Light
      and Medium Oil

            	 
      
	 
      	 
      	 
      
	
              RESERVOIR
      PARAMETERS

            	 
      
	 
      	 
      	 
      
	 
      	
              Reservoir
      Pressure, psia

            	
              3,200

            
	 
      	
              Reservoir
      Temperature, deg F

            	
              230

            
	 
      	
              Average
      Porosity, %

            	
              13.0

            
	 
      	
              Average
      Water Saturation, %

            	
              31.2

            
	 
      	
              Formation
      Volume Factor, RB/STB

            	
              1.250

            
	 
      	 
      	 
      
	 
      	
              Petroleum
      Initially-in-Place, STB/ac.ft

            	
              555.1

            
	 
      	
              Recovery
      Factor, %

            	
              7

            
	 
      	 
      	 
      
	
              RESERVES

            	 
      
	 
      	 
      	 
      
	 
      	
              Net
      Pay, ft

            	
              50.0

            
	 
      	
              Area,
      acres

            	
              87

            
	 
      	 
      	 
      
	 
      	
              Petroleum
      Initially-in-Place, STB

            	
              2,436,889

            
	 
      	
              Reserves
      Initially-in-Place, STB

            	
              170,582

            
	 
      	
              Cumulative
      Production, STB

            	
              0

            
	 
      	
              Remaining
      Reserves, STB

            	
              170,582

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	
              Note:

            	
              (1)  Interval
      1554.8 - 1797.8 m KB

            	 
      

    

    

    
      
         

      

      
        62

        
          

        

      

      
         

      

    

    

    
      	
              Table
      2l

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	
              SUMMARY
      OF GROSS RESERVES AND RESERVOIR PARAMETERS

            
	
              January
      1, 2010

            
	 
      	 
      	 
      
	
              Tarapur,
      India

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	
              Probable
      Developed Non-Producing

            
	 
      	 
      	
              Tar
      6-A5  Kalol (1)

            
	 
      	 
      	 
      
	
              PRODUCT
      TYPE

            	 
      
	 
      	
              Light
      and Medium Oil

            	 
      
	 
      	 
      	 
      
	
              RESERVOIR
      PARAMETERS

            	 
      
	 
      	 
      	 
      
	 
      	
              Reservoir
      Pressure, psia

            	
              3,200

            
	 
      	
              Reservoir
      Temperature, deg F

            	
              230

            
	 
      	
              Average
      Porosity, %

            	
              20.0

            
	 
      	
              Average
      Water Saturation, %

            	
              34.7

            
	 
      	
              Formation
      Volume Factor, RB/STB

            	
              1.250

            
	 
      	 
      	 
      
	 
      	
              Petroleum
      Initially-in-Place, STB/ac.ft

            	
              810.6

            
	 
      	
              Recovery
      Factor, %

            	
              9

            
	 
      	 
      	 
      
	
              RESERVES

            	 
      
	 
      	 
      	 
      
	 
      	
              Net
      Pay, ft

            	
              40.0

            
	 
      	
              Area,
      acres

            	
              87

            
	 
      	 
      	 
      
	 
      	
              Petroleum
      Initially-in-Place, STB

            	
              2,846,827

            
	 
      	
              Reserves
      Initially-in-Place, STB

            	
              256,214

            
	 
      	
              Cumulative
      Production, STB

            	
              0

            
	 
      	
              Remaining
      Reserves, STB

            	
              256,214

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	
              Note:

            	
              (1)  Interval
      1564.0 - 1818.8 m KB

            	 
      

    

    

    
      
         

      

      
        63

        
          

        

      

      
         

      

    

    

    
      	
              Table
      2m

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	
              SUMMARY
      OF GROSS RESERVES AND RESERVOIR PARAMETERS

            
	
              January
      1, 2010

            
	 
      	 
      	 
      
	
              Tarapur,
      India

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	
              Probable
      Developed Non-Producing

            
	 
      	 
      	
              Tar
      6-A6  Kalol (1)

            
	 
      	 
      	 
      
	
              PRODUCT
      TYPE

            	 
      
	 
      	
              Light
      and Medium Oil

            	 
      
	 
      	 
      	 
      
	
              RESERVOIR
      PARAMETERS

            	 
      
	 
      	 
      	 
      
	 
      	
              Reservoir
      Pressure, psia

            	
              3,200

            
	 
      	
              Reservoir
      Temperature, deg F

            	
              230

            
	 
      	
              Average
      Porosity, %

            	
              16.6

            
	 
      	
              Average
      Water Saturation, %

            	
              31.6

            
	 
      	
              Formation
      Volume Factor, RB/STB

            	
              1.250

            
	 
      	 
      	 
      
	 
      	
              Petroleum
      Initially-in-Place, STB/ac.ft

            	
              704.7

            
	 
      	
              Recovery
      Factor, %

            	
              8

            
	 
      	 
      	 
      
	
              RESERVES

            	 
      
	 
      	 
      	 
      
	 
      	
              Net
      Pay, ft

            	
              40.0

            
	 
      	
              Area,
      acres

            	
              87

            
	 
      	 
      	 
      
	 
      	
              Petroleum
      Initially-in-Place, STB

            	
              2,474,907

            
	 
      	
              Reserves
      Initially-in-Place, STB

            	
              197,993

            
	 
      	
              Cumulative
      Production, STB

            	
              0

            
	 
      	
              Remaining
      Reserves, STB

            	
              197,993

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	
              Note:

            	
              (1)  Interval
      1515.4 - 1729.9 m KB

            	 
      

    

    

    
      
         

      

      
        64

        
          

        

      

      
         

      

    

    

    
      	
              Table
      2n

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	
              SUMMARY
      OF GROSS RESERVES AND RESERVOIR PARAMETERS

            
	
              January
      1, 2010

            
	 
      	 
      	 
      
	
              Tarapur,
      India

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	
              Probable
      Developed Non-Producing

            
	 
      	 
      	
              Tar
      6-A7  Kalol (1)

            
	 
      	 
      	 
      
	
              PRODUCT
      TYPE

            	 
      
	 
      	
              Light
      and Medium Oil

            	 
      
	 
      	 
      	 
      
	
              RESERVOIR
      PARAMETERS

            	 
      
	 
      	 
      	 
      
	 
      	
              Reservoir
      Pressure, psia

            	
              3,200

            
	 
      	
              Reservoir
      Temperature, deg F

            	
              230

            
	 
      	
              Average
      Porosity, %

            	
              14.4

            
	 
      	
              Average
      Water Saturation, %

            	
              31.6

            
	 
      	
              Formation
      Volume Factor, RB/STB

            	
              1.250

            
	 
      	 
      	 
      
	 
      	
              Petroleum
      Initially-in-Place, STB/ac.ft

            	
              611.3

            
	 
      	
              Recovery
      Factor, %

            	
              8

            
	 
      	 
      	 
      
	
              RESERVES

            	 
      
	 
      	 
      	 
      
	 
      	
              Net
      Pay, ft

            	
              45.0

            
	 
      	
              Area,
      acres

            	
              87

            
	 
      	 
      	 
      
	 
      	
              Petroleum
      Initially-in-Place, STB

            	
              2,415,246

            
	 
      	
              Reserves
      Initially-in-Place, STB

            	
              193,220

            
	 
      	
              Cumulative
      Production, STB

            	
              0

            
	 
      	
              Remaining
      Reserves, STB

            	
              193,220

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	
              Note:

            	
              (1)  Interval
      1502.4 - 1713.4 m KB

            	 
      

    

    

    
      
         

      

      
        65

        
          

        

      

      
         

      

    

    

    
      	
              Table
      2o

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	
              SUMMARY
      OF GROSS RESERVES AND RESERVOIR PARAMETERS

            
	
              January
      1, 2010

            
	 
      	 
      	 
      
	
              Tarapur,
      India

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	
              Probable
      Developed

            
	 
      	 
      	
              Tarapur
      4 Total Structure  Kalol (1)

            
	 
      	 
      	 
      
	
              PRODUCT
      TYPE

            	 
      
	 
      	
              Light
      and Medium Oil

            	 
      
	 
      	 
      	 
      
	
              RESERVOIR
      PARAMETERS

            	 
      
	 
      	 
      	 
      
	 
      	
              Reservoir
      Pressure, psia

            	
              3,266

            
	 
      	
              Reservoir
      Temperature, deg F

            	
              231

            
	 
      	
              Average
      Porosity, %

            	
              25.1

            
	 
      	
              Average
      Water Saturation, %

            	
              21.3

            
	 
      	
              Formation
      Volume Factor, RB/STB

            	
              1.250

            
	 
      	 
      	 
      
	 
      	
              Petroleum
      Initially-in-Place, STB/ac.ft

            	
              1226.0

            
	 
      	
              Recovery
      Factor, %

            	
              9

            
	 
      	 
      	 
      
	
              RESERVES

            	 
      
	 
      	 
      	 
      
	 
      	
              Net
      Pay, ft

            	
              70.0

            
	 
      	
              Area,
      acres

            	
              127

            
	 
      	 
      	 
      
	 
      	
              Petroleum
      Initially-in-Place, STB

            	
              10,899,140

            
	 
      	
              Reserves
      Initially-in-Place, STB

            	
              980,923

            
	 
      	
              Cumulative
      Production, STB

            	
              0

            
	 
      	
              Remaining
      Reserves, STB

            	
              980,923

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	
              Note:

            	
              (1)  Interval
      1597.4 - 1626.4 m KB

            	 
      

    

    

    
      
         

      

      
        66

        
          

        

      

      
         

      

    

    

    
      	
              Table
      2p

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	
              SUMMARY
      OF GROSS RESERVES AND RESERVOIR PARAMETERS

            
	
              January
      1, 2010

            
	 
      	 
      	 
      
	
              Tarapur,
      India

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	
              Probable
      Developed

            
	 
      	 
      	
              Tarapur
      G  Kalol (1)

            
	 
      	 
      	 
      
	
              PRODUCT
      TYPE

            	 
      
	 
      	
              Non-Associated
      Gas

            	 
      
	 
      	 
      	 
      
	
              RESERVOIR
      PARAMETERS

            	 
      
	 
      	 
      	 
      
	 
      	
              Reservoir
      Pressure, psia

            	
              3,400

            
	 
      	
              Reservoir
      Temperature, deg F

            	
              239

            
	 
      	
              Average
      Porosity, %

            	
              21.8

            
	 
      	
              Average
      Water Saturation, %

            	
              30.3

            
	 
      	
              Compressibility
      Factor, Z

            	
              0.924

            
	 
      	 
      	 
      
	 
      	
              Petroleum
      Initially-in-Place, Mscf/ac.ft

            	
              1236.7

            
	 
      	
              Reservoir
      Loss, %

            	
              30.0

            
	 
      	
              Surface
      Loss, %

            	
              7.0

            
	 
      	 
      	 
      
	
              RESERVES

            	 
      
	 
      	 
      	 
      
	 
      	
              Net
      Pay, ft

            	
              50.0

            
	 
      	
              Area,
      acres

            	
              111

            
	 
      	 
      	 
      
	 
      	
              Petroleum
      Initially-in-Place, MMscf

            	
              6,864

            
	 
      	
              Reserves
      Initially-in-Place, MMscf

            	
              4,805

            
	 
      	
              Cumulative
      Production, Mscf

            	
              0

            
	 
      	
              Remaining
      Raw Reserves, MMscf

            	
              4,805

            
	 
      	
              Remaining
      Marketable Reserves, MMscf

            	
              4,469

            
	 
      	 
      	 
      
	 
      	
              NGL's
      Recovery, bbl/MMscf

            	
              16

            
	 
      	
              Remaining
      NGL's, bbls

            	
              76,880

            
	 
      	 
      	 
      
	
              Note:

            	
              (1)  Interval
      1557.8 - 1581.9 m KB

            	 
      

    

    
      
         

      

      
        67

        
          

        

      

      
         

      

    

    

    
      	
              Table  3a

            
	
              Summary
      of Anticipated Capital Expenditures

            
	
              Development

            
	
              January
      1, 2010

            
	
              GeoGlobal
      Resources Inc.

            
	
              Tarapur,
      India

            
	 
      	 
      	 
      	 
      	 
      	 
      	
              Capital

            	 
      	
               Gross

            	 
      	
               Net

            	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	
              Interest

            	 
      	
               Capital

            	 
      	
               Capital

            	 
      
	
              Description

            	 
      	
              Date

            	 
      	
              Operation

            	 
      	
              %

            	 
      	
               M$

            	 
      	
               M$

            	 
      
	
              Probable

            	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
              Light & Medium Oil

            	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
              Well
      TAR-1

            	 
      	
              Jan
      2012

            	 
      	
              Recomplete
      well as a slant frac hole completion

            	 
      	
              14.0000%

            	 
      	
              500

            	 
      	
              70

            	 
      
	
              Well
      TAR-P

            	 
      	
              Jan
      2012

            	 
      	
              Recomplete
      well as a slant frac hole completion

            	 
      	
              14.0000%

            	 
      	
              500

            	 
      	
              70

            	 
      
	
              Well
      TAR-5

            	 
      	
              Jan
      2012

            	 
      	
              Recomplete
      well as a slant frac hole completion

            	 
      	
              14.0000%

            	 
      	
              500

            	 
      	
              70

            	 
      
	
              Well
      TAR-TD1

            	 
      	
              Jan
      2012

            	 
      	
              Recomplete
      well as a slant frac hole completion

            	 
      	
              14.0000%

            	 
      	
              500

            	 
      	
              70

            	 
      
	
              Well
      TAR-TD2

            	 
      	
              Jan
      2012

            	 
      	
              Recomplete
      well as a slant frac hole completion

            	 
      	
              14.0000%

            	 
      	
              500

            	 
      	
              70

            	 
      
	
              Well
      TAR-TD3

            	 
      	
              Jan
      2012

            	 
      	
              Recomplete
      well as a slant frac hole completion

            	 
      	
              14.0000%

            	 
      	
              500

            	 
      	
              70

            	 
      
	
              Well
      TAR-6

            	 
      	
              Jan
      2012

            	 
      	
              Recomplete
      well as a slant frac hole completion

            	 
      	
              14.0000%

            	 
      	
              500

            	 
      	
              70

            	 
      
	
              Well
      TAR-6-A1

            	 
      	
              Jan
      2012

            	 
      	
              Recomplete
      well as a slant frac hole completion

            	 
      	
              14.0000%

            	 
      	
              500

            	 
      	
              70

            	 
      
	
              Well
      TAR-6-A2

            	 
      	
              Jan
      2012

            	 
      	
              Recomplete
      well as a slant frac hole completion

            	 
      	
              14.0000%

            	 
      	
              500

            	 
      	
              70

            	 
      
	
              Well
      TAR-6-A3

            	 
      	
              Jan
      2012

            	 
      	
              Recomplete
      well as a slant frac hole completion

            	 
      	
              14.0000%

            	 
      	
              500

            	 
      	
              70

            	 
      
	
              Well
      TAR-6-A4

            	 
      	
              Jan
      2012

            	 
      	
              Recomplete
      well as a slant frac hole completion

            	 
      	
              14.0000%

            	 
      	
              500

            	 
      	
              70

            	 
      
	
              Well
      TAR-6-A5

            	 
      	
              Jan
      2012

            	 
      	
              Recomplete
      well as a slant frac hole completion

            	 
      	
              14.0000%

            	 
      	
              500

            	 
      	
              70

            	 
      
	
              Well
      TAR-6-A6

            	 
      	
              Jan
      2012

            	 
      	
              Recomplete
      well as a slant frac hole completion

            	 
      	
              14.0000%

            	 
      	
              500

            	 
      	
              70

            	 
      
	
              Well
      TAR-6-A7

            	 
      	
              Jan
      2012

            	 
      	
              Recomplete
      well as a slant frac hole completion

            	 
      	
              14.0000%

            	 
      	
              500

            	 
      	
              70

            	 
      
	
              TAR-6

            	 
      	
              Jan
      2012

            	 
      	
              Install
      facilities and tie-ins for 7 wells

            	 
      	
              14.0000%

            	 
      	
              1,750

            	 
      	
              245

            	 
      
	
              Loc.
      TAR-4-D1

            	 
      	
              Jan
      2013

            	 
      	
              Drill,
      complete, and tie in one development location

            	 
      	
              14.0000%

            	 
      	
              2,500

            	 
      	
              350

            	 
      
	
              TAR-4

            	 
      	
              Jan
      2013

            	 
      	
              Recomplete
      well as a slant frac hole completion

            	 
      	
              14.0000%

            	 
      	
              500

            	 
      	
              70

            	 
      
	
              TAR-4

            	 
      	
              Jan
      2013

            	 
      	
              Install
      facilities and tie-ins for two wells

            	 
      	
              14.0000%

            	 
      	
              500

            	 
      	
              70

            	 
      
	
              TAR-G

            	 
      	
              Jan
      2013

            	 
      	
              Install
      facilities and tie-ins for single flowing gas well

            	 
      	
              14.0000%

            	 
      	
              500

            	 
      	
              70

            	 
      
	 
      	 
      	 
      	 
      	
              Total
      Probable

            	 
      	 
      	 
      	
              12,750

            	 
      	
              1,785

            	 
      

    

    

    

    

    

    

    

    

    

    
      
         

      

      
        68

        
          

        

      

      
         

      

    

    

    
      	
              Table
      3b

            
	
              Summary
      of Anticipated Capital Expenditures

            
	
              Abandonment
      and Restoration

            
	
              January
      1, 2010

            
	
              GeoGlobal
      Resources Inc.

            
	
              Tarapur,
      India

            
	 
      	 
      	 
      	 
      	
              Capital

            	 
      	
               Gross

            	 
      	
               Net

            
	 
      	 
      	 
      	 
      	
              Interest

            	 
      	
               Capital

            	 
      	
               Capital

            
	
              Description

            	 
      	
              Well
      Parameters

            	 
      	
              %

            	 
      	
               M$

            	 
      	
               M$

            
	
              Light & Medium Oil

            	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
              Well
      TAR-1

            	 
      	
              Abandon
      location and reclaim the land

            	 
      	
              14.0000

            	 
      	
              100

            	 
      	
              14

            
	
              Well
      TAR-P

            	 
      	
              Abandon
      location and reclaim the land

            	 
      	
              14.0000

            	 
      	
              100

            	 
      	
              14

            
	
              Well
      TAR-5

            	 
      	
              Abandon
      location and reclaim the land

            	 
      	
              14.0000

            	 
      	
              100

            	 
      	
              14

            
	
              Well
      TAR-TD1

            	 
      	
              Abandon
      location and reclaim the land

            	 
      	
              14.0000

            	 
      	
              100

            	 
      	
              14

            
	
              Well
      TAR-TD2

            	 
      	
              Abandon
      location and reclaim the land

            	 
      	
              14.0000

            	 
      	
              100

            	 
      	
              14

            
	
              Well
      TAR-TD3

            	 
      	
              Abandon
      location and reclaim the land

            	 
      	
              14.0000

            	 
      	
              100

            	 
      	
              14

            
	
              Well
      TAR-6

            	 
      	
              Abandon
      location and reclaim the land

            	 
      	
              14.0000

            	 
      	
              100

            	 
      	
              14

            
	
              Well
      TAR-6-A1

            	 
      	
              Abandon
      location and reclaim the land

            	 
      	
              14.0000

            	 
      	
              100

            	 
      	
              14

            
	
              Well
      TAR-6-A2

            	 
      	
              Abandon
      location and reclaim the land

            	 
      	
              14.0000

            	 
      	
              100

            	 
      	
              14

            
	
              Well
      TAR-6-A3

            	 
      	
              Abandon
      location and reclaim the land

            	 
      	
              14.0000

            	 
      	
              100

            	 
      	
              14

            
	
              Well
      TAR-6-A4

            	 
      	
              Abandon
      location and reclaim the land

            	 
      	
              14.0000

            	 
      	
              100

            	 
      	
              14

            
	
              Well
      TAR-6-A5

            	 
      	
              Abandon
      location and reclaim the land

            	 
      	
              14.0000

            	 
      	
              100

            	 
      	
              14

            
	
              Well
      TAR-6-A6

            	 
      	
              Abandon
      location and reclaim the land

            	 
      	
              14.0000

            	 
      	
              100

            	 
      	
              14

            
	
              Well
      TAR-6-A7

            	 
      	
              Abandon
      location and reclaim the land

            	 
      	
              14.0000

            	 
      	
              100

            	 
      	
              14

            
	
              Well
      TAR-4

            	 
      	
              Abandon
      location and reclaim the land

            	 
      	
              14.0000

            	 
      	
              100

            	 
      	
              14

            
	
              Loc.
      TAR-4-D1

            	 
      	
              Abandon
      location and reclaim the land

            	 
      	
              14.0000

            	 
      	
              100

            	 
      	
              14

            
	
              Associated & Non-Associated
      Gas

            	 
      	 
      	 
      	 
      	 
      	 
      
	
              Well
      TAR-G

            	 
      	
              Abandon
      location and reclaim the land

            	 
      	
              14.0000

            	 
      	
              100

            	 
      	
              14

            
	 
      	 
      	
              Total
      Abandonment and Restoration

            	 
      	 
      	 
      	
              1,700

            	 
      	
              238

            

    

    

    

    

    

    

    
      
         

      

      
        69

        
          

        

      

      
         

      

    

    

    
      	
              Table
      4a, Page 1

            
	
              GEOGLOBAL
      RESOURCES INC.

            
	
              Block
      CB-ON/2, Tarapur, India

            
	
              Proved
      Developed Producing

            
	
              Production
      and Capital Forecast

            
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	
              Tarapur
      Wells

            	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	
              TAR
      MAIN TAR - 1 Kalol

            	
              TAR
      MAIN TAR - P Kalol

            	
              TAR
      MAIN TAR - 5 Kalol

            	
              TAR
      MAIN TD-2

               Kalol

            	
              TAR
      MAIN TD-3 Kalol

            	
              Total
      Oil Production

            	
              Solution
      Gas Sales

            	
              Total
      Gas

            	 
      
	
              Year

            	
              Days
      On

            	
              Well
      Count

            	
              STB/d

            	
              STB/d

            	
              STB/d

            	
              STB/d

            	
              STB/d

            	
              STB/d

            	
              STB/yr.

            	
              Mscf/d

            	
              Mscf/d

            	
              Mscf/yr.

            	
              Total

               Capital

            
	
              2010

            	
              365

            	
              5.0

            	
              50

            	
              37

            	
              150

            	
              40

            	
              45

            	
              322

            	
              117,530

            	
              178

            	
              178

            	
              65,007

            	
              0

            
	
              2011

            	
              365

            	
              5.0

            	
              46

            	
              33

            	
              126

            	
              37

            	
              41

            	
              283

            	
              103,296

            	
              158

            	
              158

            	
              57,514

            	
              0

            
	
              2012

            	
              365

            	
              5.0

            	
              42

            	
              30

            	
              106

            	
              34

            	
              38

            	
              249

            	
              90,950

            	
              140

            	
              140

            	
              50,970

            	
              0

            
	
              2013

            	
              365

            	
              5.0

            	
              38

            	
              27

            	
              89

            	
              32

            	
              34

            	
              220

            	
              80,221

            	
              124

            	
              124

            	
              45,243

            	
              0

            
	
              2014

            	
              365

            	
              5.0

            	
              35

            	
              24

            	
              75

            	
              29

            	
              31

            	
              194

            	
              70,883

            	
              110

            	
              110

            	
              40,223

            	
              0

            
	
              2015

            	
              365

            	
              5.0

            	
              32

            	
              22

            	
              63

            	
              27

            	
              29

            	
              172

            	
              62,741

            	
              98

            	
              98

            	
              35,815

            	
              0

            
	
              2016

            	
              365

            	
              5.0

            	
              29

            	
              20

            	
              53

            	
              25

            	
              26

            	
              152

            	
              55,628

            	
              87

            	
              87

            	
              31,937

            	
              0

            
	
              2017

            	
              365

            	
              5.0

            	
              27

            	
              18

            	
              44

            	
              23

            	
              24

            	
              135

            	
              49,405

            	
              78

            	
              78

            	
              28,521

            	
              0

            
	
              2018

            	
              365

            	
              5.0

            	
              24

            	
              16

            	
              37

            	
              21

            	
              22

            	
              120

            	
              43,948

            	
              70

            	
              70

            	
              25,505

            	
              0

            
	
              2019

            	
              365

            	
              5.0

            	
              22

            	
              14

            	
              31

            	
              20

            	
              20

            	
              107

            	
              39,157

            	
              63

            	
              63

            	
              22,839

            	
              0

            
	
              2020

            	
              365

            	
              5.0

            	
              20

            	
              13

            	
              26

            	
              18

            	
              18

            	
              96

            	
              34,941

            	
              56

            	
              56

            	
              20,478

            	
              0

            
	
              2021

            	
              365

            	
              5.0

            	
              19

            	
              12

            	
              22

            	
              17

            	
              17

            	
              86

            	
              31,226

            	
              50

            	
              50

            	
              18,384

            	
              0

            
	
              2022

            	
              365

            	
              5.0

            	
              17

            	
              10

            	
              18

            	
              16

            	
              15

            	
              77

            	
              27,945

            	
              45

            	
              45

            	
              16,524

            	
              0

            
	
              2023

            	
              365

            	
              5.0

            	
              16

            	
              9

            	
              15

            	
              14

            	
              14

            	
              69

            	
              25,044

            	
              41

            	
              41

            	
              14,868

            	
              0

            
	
              2024

            	
              365

            	
              5.0

            	
              14

            	
              8

            	
              13

            	
              13

            	
              13

            	
              62

            	
              22,474

            	
              37

            	
              37

            	
              13,393

            	
              0

            
	
              2025

            	
              365

            	
              5.0

            	
              13

            	
              8

            	
              11

            	
              12

            	
              12

            	
              55

            	
              20,193

            	
              33

            	
              33

            	
              12,076

            	
              0

            
	
              2026

            	
              365

            	
              5.0

            	
              12

            	
              7

            	
              9

            	
              11

            	
              11

            	
              50

            	
              18,165

            	
              30

            	
              30

            	
              10,899

            	
              0

            
	
              2027

            	
              365

            	
              5.0

            	
              11

            	
              6

            	
              8

            	
              10

            	
              10

            	
              45

            	
              16,360

            	
              27

            	
              27

            	
              9,847

            	
              100

            
	
              2028

            	
              365

            	
              4.0

            	
              10

            	
              6

            	
              0

            	
              10

            	
              9

            	
              34

            	
              12,402

            	
              21

            	
              21

            	
              7,846

            	
              100

            
	
              2029

            	
              365

            	
              3.0

            	
              9

            	
              5

            	
              0

            	
              9

            	
              0

            	
              23

            	
              8,390

            	
              15

            	
              15

            	
              5,399

            	
              300

            
	
              Total

            	 
      	 
      	
              142,239

            	
              92,956

            	
              225,785

            	
              124,546

            	
              124,546

            	 
      	
              710,072

            	
              533,287

            	 
      	
              410,767

            	
              500

            
	
              Decline
      % =

            	 
      	
              9%

            	
              10%

            	
              16%

            	
              8%

            	
              9%

            	 
      	 
      	 
      	 
      	
              Total
      Capital =

            	
              0

            
	
              Average
      GOR

            	
              Scf/STB

            	
              600

            	
              800

            	
              450

            	
              600

            	
              600

            	 
      	 
      	 
      	 
      	 
      	 
      

    

    

    
      
         

      

      
        70

        
          

        

      

      
         

      

    

    

    
      	
              Table
      4a, Page 2

            	 
      
	
              GEOGLOBAL
      RESOURCES INC.

            	 
      
	
              Block
      CB-ON/2, Tarapur, India

            	 
      
	
              Proved
      Developed Producing

            	 
      
	
              Revenue
      and Production Splits

            	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	
              Operating
      Costs

            	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	
              Gross
      Oil Production

            	
              Gross
      Gas Production

            	
              Oil
      Price

            	
              Gas
      Price

            	
              Gross
      Revenue

            	
              Fixed

            	
              Variable

            	
              Total

            	
              Annual
      Costs For Recovery

            	
              Cumulative
      Outstanding Costs

            	
              Contractor
      Cumulative Cash Flow

            	
              Contractor's
      Cost Petroleum Revenue

            	
              Contractor's
      Profit Petroleum Revenue

            	
              Capital
      Portion of Cost Petroleum

            	
              Opex
      Portion of Cost Petroleum

            	
              Company
      Share Sales Oil

            	
              Company
      Share Sales Gas

            	
              Company
      Share of Revenue

            
	
              Year

            	
              STB/Yr

            	
              Mscf/yr.

            	
              $/STB

            	
              $/Mscf

            	
              M$/yr

            	
              M$/yr

            	
              Oil
      M$/yr

            	
              Gas
      M$/yr

            	
              M$/yr

            	
              M$/yr

            	
              M$/yr

            	
              M$/yr

            	
              M$/yr

            	
              M$/yr

            	
              M$/yr

            	
              M$/yr

            	
              MSTB

            	
              MMscf

            	
              M$/yr

            
	
              2010

            	
              117,530

            	
              65,007

            	
              57.80

            	
              7.00

            	
              7,248

            	
              700

            	
              313

            	
              23

            	
              1,035

            	
              1,035

            	
              40,956

            	
              (33,426)

            	
              5,799

            	
              1,450

            	
              4,763

            	
              1,035

            	
              21

            	
              12

            	
              1,301

            
	
              2011

            	
              103,296

            	
              57,514

            	
              57.80

            	
              7.00

            	
              6,373

            	
              700

            	
              275

            	
              20

            	
              995

            	
              995

            	
              36,152

            	
              (28,048)

            	
              5,099

            	
              1,275

            	
              4,104

            	
              995

            	
              18

            	
              10

            	
              1,138

            
	
              2012

            	
              90,950

            	
              50,970

            	
              57.80

            	
              7.00

            	
              5,614

            	
              700

            	
              242

            	
              18

            	
              960

            	
              960

            	
              32,013

            	
              (23,394)

            	
              4,491

            	
              1,123

            	
              3,531

            	
              960

            	
              16

            	
              9

            	
              998

            
	
              2013

            	
              80,221

            	
              45,243

            	
              57.80

            	
              7.00

            	
              4,953

            	
              700

            	
              213

            	
              16

            	
              929

            	
              929

            	
              28,452

            	
              (19,370)

            	
              3,963

            	
              991

            	
              3,034

            	
              929

            	
              14

            	
              8

            	
              876

            
	
              2014

            	
              70,883

            	
              40,223

            	
              57.80

            	
              7.00

            	
              4,379

            	
              700

            	
              189

            	
              14

            	
              903

            	
              903

            	
              25,392

            	
              (15,894)

            	
              3,503

            	
              876

            	
              2,600

            	
              903

            	
              12

            	
              7

            	
              769

            
	
              2015

            	
              62,741

            	
              35,815

            	
              57.80

            	
              7.00

            	
              3,877

            	
              700

            	
              167

            	
              13

            	
              879

            	
              879

            	
              22,768

            	
              (12,896)

            	
              3,102

            	
              775

            	
              2,222

            	
              879

            	
              11

            	
              6

            	
              676

            
	
              2016

            	
              55,628

            	
              31,937

            	
              57.80

            	
              7.00

            	
              3,439

            	
              700

            	
              148

            	
              11

            	
              859

            	
              859

            	
              20,526

            	
              (10,316)

            	
              2,751

            	
              688

            	
              1,892

            	
              859

            	
              10

            	
              6

            	
              595

            
	
              2017

            	
              49,405

            	
              28,521

            	
              57.80

            	
              7.00

            	
              3,055

            	
              700

            	
              131

            	
              10

            	
              841

            	
              841

            	
              18,616

            	
              (8,103)

            	
              2,444

            	
              611

            	
              1,603

            	
              841

            	
              8

            	
              5

            	
              524

            
	
              2018

            	
              43,948

            	
              25,505

            	
              57.80

            	
              7.00

            	
              2,719

            	
              700

            	
              117

            	
              9

            	
              826

            	
              826

            	
              16,997

            	
              (6,210)

            	
              2,175

            	
              544

            	
              1,349

            	
              826

            	
              7

            	
              4

            	
              462

            
	
              2019

            	
              39,157

            	
              22,839

            	
              57.80

            	
              7.00

            	
              2,423

            	
              700

            	
              104

            	
              8

            	
              812

            	
              812

            	
              15,635

            	
              (4,599)

            	
              1,939

            	
              485

            	
              1,126

            	
              812

            	
              7

            	
              4

            	
              407

            
	
              2020

            	
              34,941

            	
              20,478

            	
              57.80

            	
              7.00

            	
              2,163

            	
              700

            	
              93

            	
              7

            	
              800

            	
              800

            	
              14,496

            	
              (3,236)

            	
              1,730

            	
              433

            	
              930

            	
              800

            	
              6

            	
              3

            	
              359

            
	
              2021

            	
              31,226

            	
              18,384

            	
              57.80

            	
              7.00

            	
              1,934

            	
              700

            	
              83

            	
              6

            	
              789

            	
              789

            	
              13,555

            	
              (2,092)

            	
              1,547

            	
              387

            	
              757

            	
              789

            	
              5

            	
              3

            	
              316

            
	
              2022

            	
              27,945

            	
              16,524

            	
              57.80

            	
              7.00

            	
              1,731

            	
              700

            	
              74

            	
              6

            	
              780

            	
              780

            	
              12,789

            	
              (1,141)

            	
              1,385

            	
              346

            	
              605

            	
              780

            	
              4

            	
              3

            	
              279

            
	
              2023

            	
              25,044

            	
              14,868

            	
              57.80

            	
              7.00

            	
              1,552

            	
              700

            	
              67

            	
              5

            	
              772

            	
              772

            	
              12,176

            	
              (361)

            	
              1,241

            	
              310

            	
              469

            	
              772

            	
              4

            	
              2

            	
              245

            
	
              2024

            	
              22,474

            	
              13,393

            	
              57.80

            	
              7.00

            	
              1,393

            	
              700

            	
              60

            	
              5

            	
              764

            	
              764

            	
              11,699

            	
              267

            	
              1,114

            	
              279

            	
              350

            	
              764

            	
              3

            	
              2

            	
              216

            
	
              2025

            	
              20,193

            	
              12,076

            	
              57.80

            	
              7.00

            	
              1,252

            	
              700

            	
              54

            	
              4

            	
              758

            	
              758

            	
              11,343

            	
              761

            	
              1,001

            	
              250

            	
              243

            	
              758

            	
              3

            	
              2

            	
              190

            
	
              2026

            	
              18,165

            	
              10,899

            	
              57.80

            	
              7.00

            	
              1,126

            	
              700

            	
              48

            	
              4

            	
              752

            	
              752

            	
              11,093

            	
              1,112

            	
              901

            	
              203

            	
              149

            	
              752

            	
              3

            	
              2

            	
              163

            
	
              2027

            	
              16,360

            	
              9,847

            	
              57.80

            	
              7.00

            	
              1,015

            	
              700

            	
              44

            	
              3

            	
              747

            	
              847

            	
              11,039

            	
              1,260

            	
              812

            	
              183

            	
              0

            	
              812

            	
              2

            	
              1

            	
              139

            
	
              2028

            	
              12,402

            	
              7,846

            	
              57.80

            	
              7.00

            	
              772

            	
              600

            	
              33

            	
              3

            	
              636

            	
              736

            	
              10,964

            	
              1,280

            	
              617

            	
              139

            	
              0

            	
              617

            	
              2

            	
              1

            	
              106

            
	
              2029

            	
              8,390

            	
              5,399

            	
              57.80

            	
              7.00

            	
              523

            	
              500

            	
              22

            	
              2

            	
              524

            	
              824

            	
              11,170

            	
              968

            	
              418

            	
              94

            	
              0

            	
              418

            	
              1

            	
              1

            	
              72

            
	
              Total

            	
              930,898

            	
              533,287

            	 
      	 
      	
              57,539

            	
              13,700

            	
              2,476

            	
              187

            	
              16,363

            	
              16,863

            	 
      	 
      	
              46,031

            	
              11,439

            	
              29,728

            	
              16,303

            	
              159

            	
              91

            	
              9,830

            
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	
              2.66

            	
              0.35

            	 
      	
              Contractor
      Sunk Capital =

            	
              43,900

            	 
      	
              80%

            	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	
              per
      barrel

            	
              per
      Mscf

            	 
      	 
      	 
      	 
      	
              maximum

            	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	
              cost
      recovery

            	 
      	 
      	 
      	 
      	 
      	 
      

    

    

     

     

    
      
         

      

      
        71

        
          

        

      

      
         

      

    

    
 

    
      	
              
Table 4a, Page
  3

            
	
              GEOGLOBAL
      RESOURCES INC.

            
	
              Block
      CB-ON/2, Tarapur, India

            
	
              Proved
      Developed Producing

            
	
              R
      Factor Determination

            	
              Company
      Net Cash Flow

            
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	
              Discounted
      @

            
	 
      	
              Contractor
      Cum Net Cash Income

            	
              Contractor
      Capital

            	
              Capital
      Int.

            	
              Company
      Net Capital

            	
              Contractor
      Cum Net Capital

            	
              R
      Factor

            	
              Contractor
      Profit Share

            	 
      	 
      	
              Company
      Net Cash Flow

            	
              Company
      Taxable Income

            	
              Available
      Tax Pools

            	
              Company
      Income Tax

            	
              Company
      After Tax Cash Flow

            	
              5%

            	
              10%

            	
              15%

            	
              20%

            
	
              Year

            	
              M$

            	
              M$/yr

            	 
      	
              M$/yr

            	
              M$

            	
              Ratio

            	
              Frac.

            	 
      	
              Year

            	
              M$

            	
              M$

            	
              M$

            	
              M$

            	
              M$

            	
              M$

            	
              M$

            	
              M$

            	
              M$

            
	
              2010

            	
              10,474

            	
              0

            	
              14.00%

            	
              0

            	
              43,900

            	
              0.24

            	
              1.0

            	 
      	
              2010

            	
              1,156

            	
              0

            	
              7,988

            	
              0

            	
              1,156

            	
              1,128

            	
              1,102

            	
              1,078

            	
              1,055

            
	
              2011

            	
              15,852

            	
              0

            	
              14.00%

            	
              0

            	
              43,900

            	
              0.36

            	
              1.0

            	 
      	
              2011

            	
              999

            	
              0

            	
              6,832

            	
              0

            	
              999

            	
              929

            	
              866

            	
              810

            	
              760

            
	
              2012

            	
              20,506

            	
              0

            	
              14.00%

            	
              0

            	
              43,900

            	
              0.47

            	
              1.0

            	 
      	
              2012

            	
              863

            	
              0

            	
              5,833

            	
              0

            	
              863

            	
              764

            	
              680

            	
              609

            	
              547

            
	
              2013

            	
              24,530

            	
              0

            	
              14.00%

            	
              0

            	
              43,900

            	
              0.56

            	
              1.0

            	 
      	
              2013

            	
              745

            	
              0

            	
              4,969

            	
              0

            	
              745

            	
              628

            	
              534

            	
              457

            	
              394

            
	
              2014

            	
              28,006

            	
              0

            	
              14.00%

            	
              0

            	
              43,900

            	
              0.64

            	
              1.0

            	 
      	
              2014

            	
              643

            	
              0

            	
              4,224

            	
              0

            	
              643

            	
              516

            	
              419

            	
              343

            	
              283

            
	
              2015

            	
              31,004

            	
              0

            	
              14.00%

            	
              0

            	
              43,900

            	
              0.71

            	
              1.0

            	 
      	
              2015

            	
              553

            	
              0

            	
              3,581

            	
              0

            	
              553

            	
              423

            	
              327

            	
              256

            	
              203

            
	
              2016

            	
              33,584

            	
              0

            	
              14.00%

            	
              0

            	
              43,900

            	
              0.77

            	
              1.0

            	 
      	
              2016

            	
              475

            	
              0

            	
              3,028

            	
              0

            	
              475

            	
              346

            	
              255

            	
              191

            	
              145

            
	
              2017

            	
              35,797

            	
              0

            	
              14.00%

            	
              0

            	
              43,900

            	
              0.82

            	
              1.0

            	 
      	
              2017

            	
              406

            	
              0

            	
              2,554

            	
              0

            	
              406

            	
              282

            	
              199

            	
              142

            	
              103

            
	
              2018

            	
              37,690

            	
              0

            	
              14.00%

            	
              0

            	
              43,900

            	
              0.86

            	
              1.0

            	 
      	
              2018

            	
              346

            	
              0

            	
              2,147

            	
              0

            	
              346

            	
              229

            	
              154

            	
              105

            	
              73

            
	
              2019

            	
              39,301

            	
              0

            	
              14.00%

            	
              0

            	
              43,900

            	
              0.90

            	
              1.0

            	 
      	
              2019

            	
              293

            	
              0

            	
              1,802

            	
              0

            	
              293

            	
              184

            	
              119

            	
              78

            	
              52

            
	
              2020

            	
              40,664

            	
              0

            	
              14.00%

            	
              0

            	
              43,900

            	
              0.93

            	
              1.0

            	 
      	
              2020

            	
              247

            	
              0

            	
              1,508

            	
              0

            	
              247

            	
              148

            	
              91

            	
              57

            	
              36

            
	
              2021

            	
              41,808

            	
              0

            	
              14.00%

            	
              0

            	
              43,900

            	
              0.95

            	
              1.0

            	
               

            	
              2021

            	
              206

            	
              0

            	
              1,262

            	
              0

            	
              206

            	
              117

            	
              69

            	
              41

            	
              25

            
	
              2022

            	
              42,759

            	
              0

            	
              14.00%

            	
              0

            	
              43,900

            	
              0.97

            	
              1.0

            	 
      	
              2022

            	
              169

            	
              0

            	
              1,056

            	
              0

            	
              169

            	
              92

            	
              51

            	
              30

            	
              17

            
	
              2023

            	
              43,539

            	
              0

            	
              14.00%

            	
              0

            	
              43,900

            	
              0.99

            	
              1.0

            	 
      	
              2023

            	
              137

            	
              0

            	
              887

            	
              0

            	
              137

            	
              71

            	
              38

            	
              21

            	
              12

            
	
              2024

            	
              44,167

            	
              0

            	
              14.00%

            	
              0

            	
              43,900

            	
              1.01

            	
              1.0

            	 
      	
              2024

            	
              109

            	
              0

            	
              749

            	
              0

            	
              109

            	
              54

            	
              27

            	
              14

            	
              8

            
	
              2025

            	
              44,661

            	
              0

            	
              14.00%

            	
              0

            	
              43,900

            	
              1.02

            	
              0.90

            	 
      	
              2025

            	
              84

            	
              0

            	
              641

            	
              0

            	
              84

            	
              39

            	
              19

            	
              10

            	
              5

            
	
              2026

            	
              45,012

            	
              0

            	
              14.00%

            	
              0

            	
              43,900

            	
              1.03

            	
              0.90

            	 
      	
              2026

            	
              58

            	
              0

            	
              557

            	
              0

            	
              58

            	
              26

            	
              12

            	
              6

            	
              3

            
	
              2027

            	
              45,260

            	
              100

            	
              14.00%

            	
              14

            	
              44,000

            	
              1.03

            	
              0.90

            	 
      	
              2027

            	
              21

            	
              0

            	
              499

            	
              0

            	
              21

            	
              9

            	
              4

            	
              2

            	
              1

            
	
              2028

            	
              45,380

            	
              100

            	
              14.00%

            	
              14

            	
              44,100

            	
              1.03

            	
              0.90

            	 
      	
              2028

            	
              3

            	
              0

            	
              473

            	
              0

            	
              3

            	
              1

            	
              0

            	
              0

            	
              0

            
	
              2029

            	
              45,368

            	
              300

            	
              14.00%

            	
              42

            	
              44,400

            	
              1.02

            	
              0.90

            	 
      	
              2029

            	
              (44)

            	
              0

            	
              454

            	
              0

            	
              (44)

            	
              (17)

            	
              (7)

            	
              (3)

            	
              (1)

            
	
              Total

            	 
      	
              500

            	 
      	
              70

            	 
      	 
      	 
      	 
      	
              Total

            	
              7,469

            	 
      	 
      	
              0

            	
              7,469

            	
              5,968

            	
              4,960

            	
              4,247

            	
              3,722

            
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	
              Company
      Capital Interest =

            	
              14.0%

            	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	
              Company
      Working Interest =

            	
              14.0%

            	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	
              Capex
      Recovery=

            	
              20.0%

            	 
      	 
      	 
      	 
      

    

    

    

    
      
         

      

      
        72

        
          

        

      

      
         

      

    

    

    
      	
              Table
      4b, Page 1

            
	
              GEOGLOBAL
      RESOURCES INC.

            
	
              Block
      CB-ON/2, Tarapur, India

            
	
              Total
      Proved

            
	
              Production
      and Capital Forecast

            
	 
      	 
      	 
      	 
      	
              Tarapur
      Wells

            	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	
              TAR
      MAIN TAR - 1 Kalol

            	
              TAR
      MAIN TAR - P Kalol

            	
              TAR
      MAIN TAR - 5 Kalol

            	
              TAR
      MAIN TD-1 Kalol

            	
              TAR
      MAIN TD-2 Kalol

            	
              TAR
      MAIN TD-3 Kalol

            	
              Total
      Oil Production

            	
              Solution
      Gas Sales

            	
              Total
      Gas

            	 
      
	 
      	
              Year

            	
              Days
      On

            	
              Well
      Count

            	
              STB/d

            	
              STB/d

            	
              STB/d

            	
              STB/d

            	
              STB/d

            	
              STB/d

            	
              STB/d

            	
              STB/yr.

            	
              Mscf/d

            	
              Mscf/d

            	
              Mscf/yr.

            	
              Total
      Capital

            
	 
      	
              2010

            	
              365

            	
              6.0

            	
              50

            	
              37

            	
              150

            	
              50

            	
              40

            	
              45

            	
              372

            	
              135,780

            	
              208

            	
              208

            	
              75,957

            	
              0

            
	 
      	
              2011

            	
              365

            	
              6.0

            	
              46

            	
              33

            	
              126

            	
              45

            	
              37

            	
              41

            	
              328

            	
              119,793

            	
              185

            	
              185

            	
              67,412

            	
              0

            
	 
      	
              2012

            	
              365

            	
              6.0

            	
              42

            	
              30

            	
              106

            	
              41

            	
              34

            	
              38

            	
              290

            	
              105,861

            	
              164

            	
              164

            	
              59,917

            	
              0

            
	 
      	
              2013

            	
              365

            	
              6.0

            	
              38

            	
              27

            	
              89

            	
              37

            	
              32

            	
              34

            	
              257

            	
              93,700

            	
              146

            	
              146

            	
              53,330

            	
              0

            
	 
      	
              2014

            	
              365

            	
              6.0

            	
              35

            	
              24

            	
              75

            	
              33

            	
              29

            	
              31

            	
              228

            	
              83,067

            	
              130

            	
              130

            	
              47,533

            	
              0

            
	 
      	
              2015

            	
              365

            	
              6.0

            	
              32

            	
              22

            	
              63

            	
              30

            	
              27

            	
              29

            	
              202

            	
              73,754

            	
              116

            	
              116

            	
              42,423

            	
              0

            
	 
      	
              2016

            	
              365

            	
              6.0

            	
              29

            	
              20

            	
              53

            	
              27

            	
              25

            	
              26

            	
              180

            	
              65,584

            	
              104

            	
              104

            	
              37,911

            	
              0

            
	 
      	
              2017

            	
              365

            	
              6.0

            	
              27

            	
              18

            	
              44

            	
              25

            	
              23

            	
              24

            	
              160

            	
              58,404

            	
              93

            	
              93

            	
              33,920

            	
              0

            
	 
      	
              2018

            	
              365

            	
              6.0

            	
              24

            	
              16

            	
              37

            	
              22

            	
              21

            	
              22

            	
              143

            	
              52,083

            	
              83

            	
              83

            	
              30,386

            	
              0

            
	 
      	
              2019

            	
              365

            	
              6.0

            	
              22

            	
              14

            	
              31

            	
              20

            	
              20

            	
              20

            	
              127

            	
              46,510

            	
              75

            	
              75

            	
              27,251

            	
              0

            
	 
      	
              2020

            	
              365

            	
              6.0

            	
              20

            	
              13

            	
              26

            	
              18

            	
              18

            	
              18

            	
              114

            	
              41,588

            	
              67

            	
              67

            	
              24,466

            	
              0

            
	 
      	
              2021

            	
              365

            	
              6.0

            	
              19

            	
              12

            	
              22

            	
              16

            	
              17

            	
              17

            	
              102

            	
              37,234

            	
              60

            	
              60

            	
              21,989

            	
              0

            
	 
      	
              2022

            	
              365

            	
              6.0

            	
              17

            	
              10

            	
              18

            	
              15

            	
              16

            	
              15

            	
              91

            	
              33,376

            	
              54

            	
              54

            	
              19,782

            	
              0

            
	 
      	
              2023

            	
              365

            	
              6.0

            	
              16

            	
              9

            	
              15

            	
              13

            	
              14

            	
              14

            	
              82

            	
              29,953

            	
              49

            	
              49

            	
              17,813

            	
              0

            
	 
      	
              2024

            	
              365

            	
              6.0

            	
              14

            	
              8

            	
              13

            	
              12

            	
              13

            	
              13

            	
              74

            	
              26,911

            	
              44

            	
              44

            	
              16,055

            	
              0

            
	 
      	
              2025

            	
              365

            	
              6.0

            	
              13

            	
              8

            	
              11

            	
              11

            	
              12

            	
              12

            	
              66

            	
              24,204

            	
              40

            	
              40

            	
              14,483

            	
              0

            
	 
      	
              2026

            	
              365

            	
              6.0

            	
              12

            	
              7

            	
              9

            	
              10

            	
              11

            	
              11

            	
              60

            	
              21,791

            	
              36

            	
              36

            	
              13,075

            	
              0

            
	 
      	
              2027

            	
              365

            	
              6.0

            	
              11

            	
              6

            	
              8

            	
              9

            	
              10

            	
              10

            	
              54

            	
              19,637

            	
              32

            	
              32

            	
              11,813

            	
              100

            
	 
      	
              2028

            	
              365

            	
              5.0

            	
              10

            	
              6

            	
              0

            	
              8

            	
              10

            	
              9

            	
              42

            	
              15,364

            	
              26

            	
              26

            	
              9,624

            	
              100

            
	 
      	
              2029

            	
              365

            	
              4.0

            	
              9

            	
              5

            	
              0

            	
              7

            	
              9

            	
              0

            	
              30

            	
              11,068

            	
              19

            	
              19

            	
              7,005

            	
              400

            
	 
      	
              Total

            	 
      	 
      	
              142,239

            	
              92,956

            	
              225,785

            	
              130,016

            	
              124,546

            	
              124,546

            	 
      	
              840,088

            	
              632,145

            	 
      	
              488,776

            	
              600

            
	 
      	
              Decline
      % =

            	 
      	
              9%

            	
              10%

            	
              16%

            	
              10%

            	
              8%

            	
              9%

            	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	
              Average
      GOR

            	
              Scf/STB

            	
              600

            	
              800

            	
              450

            	
              600

            	
              600

            	
              600

            	 
      	 
      	 
      	 
      	 
      	 
      

    

    

    

    

    

    
      
         

      

      
        73

        
          

        

      

      
         

      

    

    

    
      	
              Table
      4b, Page 2

            
	
              GEOGLOBAL
      RESOURCES INC.

            
	
              Block
      CB-ON/2, Tarapur, India

            
	
              Total
      Proved

            
	
              Revenue
      and Production Splits

            
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	
              Operating
      Costs

            	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	
              Gross
      Oil Production

            	
              Gross
      Gas Production

            	
              Oil
      Price

            	
              Gas
      Price

            	
              Gross
      Revenue

            	
              Royalties
      + Cess

            	
              Fixed

            	
              Variable

            	
              Total

            	
              Annual
      Costs For Recovery

            	
              Cumulative
      Outstanding Costs

            	
              Contractor
      Cumulative Cash Flow

            	
              Contractor's
      Cost Petroleum Revenue

            	
              Contractor's
      Profit Petroleum Revenue

            	
              Capital
      Portion of Cost Petroleum

            	
              Opex
      Portion of Cost Petroleum

            	
              Company
      Share Sales Oil

            	
              Company
      Share Sales Gas

            	
              Company
      Share of Revenue

            
	
              Year

            	
              STB/Yr

            	
              Mscf/yr.

            	
              $/STB

            	
              $/Mscf

            	
              M$/yr

            	 
      	
              M$/yr

            	
              M$/yr

            	
              Oil
      M$/yr

            	
              Gas
      M$/yr

            	
              M$/yr

            	
              M$/yr

            	
              M$/yr

            	
              M$/yr

            	
              M$/yr

            	
              M$/yr

            	
              M$/yr

            	
              M$/yr

            	
              MSTB

            	
              MMscf

            	
              M$/yr

            
	
              2010

            	
              135,780

            	
              75,957

            	
              57.80

            	
              7.00

            	
              8,380

            	 
      	
              0

            	
              800

            	
              361

            	
              27

            	
              1,188

            	
              1,188

            	
              41,108

            	
              (32,447)

            	
              6,704

            	
              1,676

            	
              5,516

            	
              1,188

            	
              24

            	
              14

            	
              1,504

            
	
              2011

            	
              119,793

            	
              67,412

            	
              57.80

            	
              7.00

            	
              7,396

            	 
      	
              0

            	
              800

            	
              319

            	
              24

            	
              1,142

            	
              1,142

            	
              35,547

            	
              (26,194)

            	
              5,917

            	
              1,479

            	
              4,774

            	
              1,142

            	
              21

            	
              12

            	
              1,322

            
	
              2012

            	
              105,861

            	
              59,917

            	
              57.80

            	
              7.00

            	
              6,538

            	 
      	
              0

            	
              800

            	
              282

            	
              21

            	
              1,103

            	
              1,103

            	
              30,733

            	
              (20,758)

            	
              5,231

            	
              1,308

            	
              4,128

            	
              1,103

            	
              19

            	
              11

            	
              1,163

            
	
              2013

            	
              93,700

            	
              53,330

            	
              57.80

            	
              7.00

            	
              5,789

            	 
      	
              0

            	
              800

            	
              249

            	
              19

            	
              1,068

            	
              1,068

            	
              26,570

            	
              (16,037)

            	
              4,631

            	
              1,158

            	
              3,563

            	
              1,068

            	
              17

            	
              9

            	
              1,024

            
	
              2014

            	
              83,067

            	
              47,533

            	
              57.80

            	
              7.00

            	
              5,134

            	 
      	
              0

            	
              800

            	
              221

            	
              17

            	
              1,038

            	
              1,038

            	
              22,976

            	
              (11,940)

            	
              4,107

            	
              1,027

            	
              3,070

            	
              1,038

            	
              15

            	
              8

            	
              903

            
	
              2015

            	
              73,754

            	
              42,423

            	
              57.80

            	
              7.00

            	
              4,560

            	 
      	
              0

            	
              800

            	
              196

            	
              15

            	
              1,011

            	
              1,011

            	
              19,880

            	
              (8,391)

            	
              3,648

            	
              912

            	
              2,637

            	
              1,011

            	
              13

            	
              7

            	
              797

            
	
              2016

            	
              65,584

            	
              37,911

            	
              57.80

            	
              7.00

            	
              4,056

            	 
      	
              0

            	
              800

            	
              174

            	
              13

            	
              988

            	
              988

            	
              17,220

            	
              (5,323)

            	
              3,245

            	
              811

            	
              2,257

            	
              988

            	
              11

            	
              7

            	
              703

            
	
              2017

            	
              58,404

            	
              33,920

            	
              57.80

            	
              7.00

            	
              3,613

            	 
      	
              0

            	
              800

            	
              155

            	
              12

            	
              967

            	
              967

            	
              14,942

            	
              (2,677)

            	
              2,891

            	
              723

            	
              1,923

            	
              967

            	
              10

            	
              6

            	
              621

            
	
              2018

            	
              52,083

            	
              30,386

            	
              57.80

            	
              7.00

            	
              3,223

            	 
      	
              0

            	
              800

            	
              139

            	
              11

            	
              949

            	
              949

            	
              13,001

            	
              (403)

            	
              2,578

            	
              645

            	
              1,629

            	
              949

            	
              9

            	
              5

            	
              549

            
	
              2019

            	
              46,510

            	
              27,251

            	
              57.80

            	
              7.00

            	
              2,879

            	 
      	
              0

            	
              800

            	
              124

            	
              10

            	
              933

            	
              933

            	
              11,355

            	
              1,543

            	
              2,303

            	
              576

            	
              1,370

            	
              933

            	
              8

            	
              5

            	
              485

            
	
              2020

            	
              41,588

            	
              24,466

            	
              57.80

            	
              7.00

            	
              2,575

            	 
      	
              0

            	
              800

            	
              111

            	
              9

            	
              919

            	
              919

            	
              9,971

            	
              3,199

            	
              2,060

            	
              515

            	
              1,141

            	
              919

            	
              7

            	
              4

            	
              429

            
	
              2021

            	
              37,234

            	
              21,989

            	
              57.80

            	
              7.00

            	
              2,306

            	 
      	
              0

            	
              800

            	
              99

            	
              8

            	
              907

            	
              907

            	
              8,818

            	
              4,552

            	
              1,845

            	
              415

            	
              938

            	
              907

            	
              6

            	
              4

            	
              373

            
	
              2022

            	
              33,376

            	
              19,782

            	
              57.80

            	
              7.00

            	
              2,068

            	 
      	
              0

            	
              800

            	
              89

            	
              7

            	
              896

            	
              896

            	
              7,869

            	
              5,682

            	
              1,654

            	
              372

            	
              758

            	
              896

            	
              5

            	
              3

            	
              329

            
	
              2023

            	
              29,953

            	
              17,813

            	
              57.80

            	
              7.00

            	
              1,856

            	 
      	
              0

            	
              800

            	
              80

            	
              6

            	
              886

            	
              886

            	
              7,101

            	
              6,615

            	
              1,485

            	
              334

            	
              599

            	
              886

            	
              5

            	
              3

            	
              291

            
	
              2024

            	
              26,911

            	
              16,055

            	
              57.80

            	
              7.00

            	
              1,668

            	 
      	
              0

            	
              800

            	
              72

            	
              6

            	
              877

            	
              877

            	
              6,493

            	
              7,373

            	
              1,334

            	
              300

            	
              457

            	
              877

            	
              4

            	
              2

            	
              256

            
	
              2025

            	
              24,204

            	
              14,483

            	
              57.80

            	
              7.00

            	
              1,500

            	 
      	
              0

            	
              800

            	
              64

            	
              5

            	
              869

            	
              869

            	
              6,028

            	
              7,973

            	
              1,200

            	
              270

            	
              331

            	
              869

            	
              4

            	
              2

            	
              226

            
	
              2026

            	
              21,791

            	
              13,075

            	
              57.80

            	
              7.00

            	
              1,351

            	 
      	
              0

            	
              800

            	
              58

            	
              5

            	
              863

            	
              863

            	
              5,691

            	
              8,435

            	
              1,081

            	
              243

            	
              218

            	
              863

            	
              3

            	
              2

            	
              198

            
	
              2027

            	
              19,637

            	
              11,813

            	
              57.80

            	
              7.00

            	
              1,218

            	 
      	
              0

            	
              800

            	
              52

            	
              4

            	
              856

            	
              956

            	
              5,566

            	
              8,672

            	
              974

            	
              219

            	
              18

            	
              956

            	
              3

            	
              2

            	
              168

            
	
              2028

            	
              15,364

            	
              9,624

            	
              57.80

            	
              7.00

            	
              955

            	 
      	
              0

            	
              700

            	
              41

            	
              3

            	
              744

            	
              844

            	
              5,436

            	
              8,764

            	
              764

            	
              172

            	
              0

            	
              764

            	
              2

            	
              1

            	
              131

            
	
              2029

            	
              11,068

            	
              7,005

            	
              57.80

            	
              7.00

            	
              689

            	 
      	
              0

            	
              600

            	
              29

            	
              2

            	
              632

            	
              1,032

            	
              5,704

            	
              8,407

            	
              551

            	
              124

            	
              0

            	
              551

            	
              2

            	
              1

            	
              94

            
	
              Total

            	
              1,095,661

            	
              632,145

            	 
      	 
      	
              67,754

            	 
      	
              0

            	
              15,700

            	
              2,914

            	
              221

            	
              18,836

            	
              19,436

            	 
      	 
      	
              54,203

            	
              13,279

            	
              35,328

            	
              18,875

            	
              187

            	
              108

            	
              11,567

            
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	
              2.66

            	
              0.35

            	 
      	
              Contractor
      Sunk Capital =

            	
              43,900

            	 
      	
              80%

            	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	
              per
      barrel

            	
              per
      Mscf

            	 
      	 
      	 
      	 
      	
              maximum

            	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	
              cost
      recovery

            	 
      	 
      	 
      	 
      	 
      	 
      

    

     

     

    
      
         

      

      
        74

        
          

        

      

      
         

      

    

    
 

    

    
      	
              Table
      4c, Page 3

            
	
              GEOGLOBAL
      RESOURCES INC.

            
	
              Block
      CB-ON/2, Tarapur, India

            
	
              Total
      Proved Plus Probable

            
	
              R
      Factor Determination

            	
              Company
      Net Cash Flow

            
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	
              Discounted
      @

            
	 
      	
              Contractor
      Cum Net Cash Income

            	
              Contractor
      Capital

            	
              Capital
      Int.

            	
              Company
      Net Capital

            	
              Contractor
      Cum Net Capital

            	
              R
      Factor

            	
              Contractor
      Profit Share

            	 
      	 
      	
              Company
      Net Cash Flow

            	
              Company
      Taxable Income

            	
              Available
      Tax Pools

            	
              Company
      Income Tax

            	
              Company
      After Tax Cash Flow

            	
              5%

            	
              10%

            	
              15%

            	
              20%

            
	
              Year

            	
              M$

            	
              M$/yr

            	 
      	
              M$/yr

            	
              M$

            	
              Ratio

            	
              Frac.

            	 
      	
              Year

            	
              M$

            	
              M$

            	
              M$

            	
              M$

            	
              M$

            	
              M$

            	
              M$

            	
              M$

            	
              M$

            
	
              2010

            	
              10,353

            	
              0

            	
              14.00%

            	
              0

            	
              43,900

            	
              0.24

            	
              1.0

            	 
      	
              2010

            	
              1,118

            	
              0

            	
              7,988

            	
              0

            	
              1,118

            	
              1,091

            	
              1,066

            	
              1,042

            	
              1,020

            
	
              2011

            	
              15,432

            	
              0

            	
              14.00%

            	
              0

            	
              43,900

            	
              0.35

            	
              1.0

            	 
      	
              2011

            	
              928

            	
              0

            	
              6,870

            	
              0

            	
              928

            	
              863

            	
              804

            	
              752

            	
              706

            
	
              2012

            	
              45,869

            	
              8,750

            	
              14.00%

            	
              1225

            	
              52,650

            	
              0.87

            	
              1.0

            	 
      	
              2012

            	
              3,931

            	
              0

            	
              5,942

            	
              0

            	
              3,931

            	
              3,479

            	
              3,097

            	
              2,772

            	
              2,492

            
	
              2013

            	
              82,845

            	
              4,000

            	
              14.00%

            	
              560

            	
              56,650

            	
              1.46

            	
              1.0

            	 
      	
              2013

            	
              5,636

            	
              228

            	
              2,011

            	
              94

            	
              5,542

            	
              4,672

            	
              3,970

            	
              3,398

            	
              2,927

            
	
              2014

            	
              113,986

            	
              0

            	
              14.00%

            	
              0

            	
              56,650

            	
              2.01

            	
              0.90

            	 
      	
              2014

            	
              4,360

            	
              4,360

            	
              0

            	
              1,796

            	
              2,564

            	
              2,058

            	
              1,669

            	
              1,367

            	
              1,129

            
	
              2015

            	
              137,576

            	
              0

            	
              14.00%

            	
              0

            	
              56,650

            	
              2.43

            	
              0.80

            	 
      	
              2015

            	
              3,303

            	
              3,303

            	
              0

            	
              1,361

            	
              1,942

            	
              1,485

            	
              1,150

            	
              900

            	
              712

            
	
              2016

            	
              155,210

            	
              0

            	
              14.00%

            	
              0

            	
              56,650

            	
              2.74

            	
              0.80

            	 
      	
              2016

            	
              2,469

            	
              2,469

            	
              0

            	
              1,017

            	
              1,452

            	
              1,057

            	
              781

            	
              585

            	
              444

            
	
              2017

            	
              170,022

            	
              0

            	
              14.00%

            	
              0

            	
              56,650

            	
              3.00

            	
              0.70

            	 
      	
              2017

            	
              2,074

            	
              2,074

            	
              0

            	
              854

            	
              1,219

            	
              846

            	
              597

            	
              427

            	
              311

            
	
              2018

            	
              180,888

            	
              0

            	
              14.00%

            	
              0

            	
              56,650

            	
              3.19

            	
              0.60

            	 
      	
              2018

            	
              1,521

            	
              1,521

            	
              0

            	
              627

            	
              895

            	
              591

            	
              398

            	
              273

            	
              190

            
	
              2019

            	
              188,680

            	
              0

            	
              14.00%

            	
              0

            	
              56,650

            	
              3.33

            	
              0.60

            	 
      	
              2019

            	
              1,091

            	
              1,091

            	
              0

            	
              449

            	
              641

            	
              404

            	
              259

            	
              170

            	
              113

            
	
              2020

            	
              195,180

            	
              0

            	
              14.00%

            	
              0

            	
              56,650

            	
              3.45

            	
              0.60

            	 
      	
              2020

            	
              910

            	
              910

            	
              0

            	
              375

            	
              535

            	
              321

            	
              197

            	
              123

            	
              79

            
	
              2021

            	
              200,582

            	
              0

            	
              14.00%

            	
              0

            	
              56,650

            	
              3.54

            	
              0.60

            	
               

            	
              2021

            	
              756

            	
              756

            	
              0

            	
              312

            	
              445

            	
              254

            	
              149

            	
              89

            	
              55

            
	
              2022

            	
              205,048

            	
              0

            	
              14.00%

            	
              0

            	
              56,650

            	
              3.62

            	
              0.50

            	 
      	
              2022

            	
              625

            	
              625

            	
              0

            	
              258

            	
              368

            	
              200

            	
              112

            	
              64

            	
              38

            
	
              2023

            	
              208,106

            	
              0

            	
              14.00%

            	
              0

            	
              56,650

            	
              3.67

            	
              0.50

            	 
      	
              2023

            	
              428

            	
              428

            	
              0

            	
              176

            	
              252

            	
              130

            	
              70

            	
              38

            	
              21

            
	
              2024

            	
              210,599

            	
              0

            	
              14.00%

            	
              0

            	
              56,650

            	
              3.72

            	
              0.50

            	 
      	
              2024

            	
              349

            	
              349

            	
              0

            	
              144

            	
              205

            	
              101

            	
              52

            	
              27

            	
              15

            
	
              2025

            	
              212,608

            	
              0

            	
              14.00%

            	
              0

            	
              56,650

            	
              3.75

            	
              0.50

            	 
      	
              2025

            	
              281

            	
              281

            	
              0

            	
              116

            	
              165

            	
              78

            	
              38

            	
              19

            	
              10

            
	
              2026

            	
              214,205

            	
              0

            	
              14.00%

            	
              0

            	
              56,650

            	
              3.78

            	
              0.50

            	 
      	
              2026

            	
              224

            	
              224

            	
              0

            	
              92

            	
              131

            	
              59

            	
              27

            	
              13

            	
              6

            
	
              2027

            	
              215,449

            	
              0

            	
              14.00%

            	
              0

            	
              56,650

            	
              3.80

            	
              0.50

            	 
      	
              2027

            	
              174

            	
              174

            	
              0

            	
              72

            	
              102

            	
              44

            	
              19

            	
              9

            	
              4

            
	
              2028

            	
              216,390

            	
              0

            	
              14.00%

            	
              0

            	
              56,650

            	
              3.82

            	
              0.50

            	 
      	
              2028

            	
              132

            	
              132

            	
              0

            	
              54

            	
              78

            	
              31

            	
              13

            	
              6

            	
              3

            
	
              2029

            	
              217,073

            	
              0

            	
              14.00%

            	
              0

            	
              56,650

            	
              3.83

            	
              0.50

            	 
      	
              2029

            	
              96

            	
              96

            	
              0

            	
              39

            	
              56

            	
              22

            	
              9

            	
              4

            	
              2

            
	
              2030

            	
              217,533

            	
              0

            	
              14.00%

            	
              0

            	
              56,650

            	
              3.84

            	
              0.50

            	 
      	
              2030

            	
              64

            	
              64

            	
              0

            	
              27

            	
              38

            	
              14

            	
              5

            	
              2

            	
              1

            
	
              2031

            	
              217,802

            	
              1,700

            	
              14.00%

            	
              238

            	
              58,350

            	
              3.73

            	
              0.50

            	 
      	
              2031

            	
              (200)

            	
              0

            	
              0

            	
              0

            	
              (200)

            	
              (70)

            	
              (26)

            	
              (10)

            	
              (4)

            
	
              Total

            	 
      	
              14,450

            	 
      	
              2,023

            	 
      	 
      	 
      	 
      	
              Total

            	
              30,268

            	 
      	 
      	
              7,863

            	
              22,405

            	
              17,727

            	
              14,455

            	
              12,071

            	
              10,273

            
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	
              Company
      Capital Interest =

            	
              14.0%

            	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	
              Company
      Working Interest =

            	
              14.0%

            	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	
              Capex
      Recovery=

            	
              20.0%

            	 
      	 
      	 
      	 
      

    

    

    

    
      
         

      

      
        75

        
          

        

      

      
         

      

    

    

    
      	
              Table
      4c, Page 1

            
	
              GEOGLOBAL
      RESOURCES INC.

            
	
              Block
      CB-ON/2, Tarapur, India

            
	
              Total
      Proved Plus Probable

            
	
              Production
      and Capital Forecast

            
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	
              Tarapur
      Wells

            	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	
              TAR
      MAIN TAR - 1 Kalol

            	
              TAR
      MAIN TAR - P Kalol

            	
              TAR
      MAIN TAR - 5 Kalol

            	
              TAR
      MAIN TD-1 Kalol

            	
              TAR
      MAIN TD-2 Kalol

            	
              TAR
      MAIN TD-3 Kalol

            	
              TAR-6

            	
              TAR-6
      A1

            	
              TAR-6
      A2

            	
              TAR-6
      A3

            	
              TAR-6
      A4

            	
              TAR-6
      A5

            	
              TAR-6
      A6

            	
              TAR-6
      A7

            	
              TAR-4

            	
              TAR-4
      Dev. 1

            	
              Total
      Oil

              Production

            	
              Solution
      Gas Sales

            	
              TAR
      - G Kalol

            	
              Total
      Gas

            	 
      
	
              Year

            	
              Days
      On

            	
              Well
      Count

            	
              STB/d

            	
              STB/d

            	
              STB/d

            	
              STB/d

            	
              STB/d

            	
              STB/d

            	
              STB/d

            	
              STB/d

            	
              STB/d

            	
              STB/d

            	
              STB/d

            	
              STB/d

            	
              STB/d

            	
              STB/d

            	
              STB/d

            	
              STB/d

            	
              STB/d

            	
              STB/yr.

            	
              Mscf/d

            	
              Mscf/d

            	
              Mscf/d

            	
              Mscf/yr.

            	
              Total
      Capital

            
	
              2010

            	
              365

            	
              17.0

            	
              50

            	
              37

            	
              150

            	
              50

            	
              40

            	
              45

            	
              -

            	
              -

            	
              -

            	
              -

            	
              -

            	
              -

            	
              -

            	
              -

            	
              -

            	
              -

            	
              372

            	
              135,780

            	
              208

            	
              -

            	
              208

            	
              75,957

            	
              0

            
	
              2011

            	
              365

            	
              17.0

            	
              43

            	
              31

            	
              134

            	
              43

            	
              35

            	
              39

            	
              -

            	
              -

            	
              -

            	
              -

            	
              -

            	
              -

            	
              -

            	
              -

            	
              -

            	
              -

            	
              325

            	
              118,605

            	
              181

            	
              -

            	
              181

            	
              66,045

            	
              0

            
	
              2012

            	
              365

            	
              17.0

            	
              100

            	
              100

            	
              150

            	
              100

            	
              100

            	
              100

            	
              130

            	
              120

            	
              120

            	
              120

            	
              90

            	
              130

            	
              100

            	
              100

            	
              -

            	
              -

            	
              1560

            	
              569,400

            	
              388

            	
              -

            	
              388

            	
              141,438

            	
              8,750

            
	
              2013

            	
              365

            	
              17.0

            	
              85

            	
              83

            	
              134

            	
              87

            	
              87

            	
              87

            	
              107

            	
              100

            	
              101

            	
              97

            	
              73

            	
              106

            	
              82

            	
              81

            	
              200

            	
              200

            	
              1710

            	
              624,291

            	
              334

            	
              1500

            	
              1834

            	
              669,525

            	
              4,000

            
	
              2014

            	
              365

            	
              17.0

            	
              73

            	
              69

            	
              120

            	
              75

            	
              76

            	
              75

            	
              88

            	
              83

            	
              85

            	
              78

            	
              59

            	
              87

            	
              67

            	
              66

            	
              172

            	
              172

            	
              1446

            	
              527,665

            	
              289

            	
              1337

            	
              1625

            	
              593,289

            	
              0

            
	
              2015

            	
              365

            	
              17.0

            	
              62

            	
              57

            	
              108

            	
              65

            	
              66

            	
              66

            	
              72

            	
              69

            	
              72

            	
              63

            	
              48

            	
              71

            	
              55

            	
              54

            	
              148

            	
              148

            	
              1223

            	
              446,399

            	
              249

            	
              1191

            	
              1441

            	
              525,865

            	
              0

            
	
              2016

            	
              365

            	
              17.0

            	
              53

            	
              47

            	
              97

            	
              56

            	
              57

            	
              57

            	
              59

            	
              58

            	
              60

            	
              51

            	
              39

            	
              58

            	
              45

            	
              44

            	
              127

            	
              127

            	
              1036

            	
              377,993

            	
              215

            	
              1062

            	
              1277

            	
              466,217

            	
              0

            
	
              2017

            	
              365

            	
              17.0

            	
              45

            	
              39

            	
              87

            	
              49

            	
              50

            	
              49

            	
              49

            	
              48

            	
              51

            	
              41

            	
              31

            	
              48

            	
              37

            	
              36

            	
              109

            	
              109

            	
              878

            	
              320,362

            	
              186

            	
              946

            	
              1133

            	
              413,429

            	
              0

            
	
              2018

            	
              365

            	
              17.0

            	
              39

            	
              33

            	
              78

            	
              42

            	
              43

            	
              43

            	
              40

            	
              40

            	
              43

            	
              33

            	
              25

            	
              39

            	
              30

            	
              29

            	
              94

            	
              94

            	
              745

            	
              271,766

            	
              161

            	
              843

            	
              1005

            	
              366,699

            	
              0

            
	
              2019

            	
              365

            	
              17.0

            	
              33

            	
              27

            	
              70

            	
              36

            	
              38

            	
              37

            	
              33

            	
              33

            	
              36

            	
              27

            	
              21

            	
              32

            	
              25

            	
              24

            	
              81

            	
              81

            	
              632

            	
              230,753

            	
              140

            	
              752

            	
              891

            	
              325,318

            	
              0

            
	
              2020

            	
              365

            	
              17.0

            	
              28

            	
              22

            	
              62

            	
              32

            	
              33

            	
              32

            	
              27

            	
              28

            	
              30

            	
              22

            	
              17

            	
              26

            	
              20

            	
              19

            	
              69

            	
              69

            	
              537

            	
              196,109

            	
              121

            	
              670

            	
              791

            	
              288,665

            	
              0

            
	
              2021

            	
              365

            	
              17.0

            	
              24

            	
              19

            	
              56

            	
              27

            	
              29

            	
              28

            	
              22

            	
              23

            	
              25

            	
              18

            	
              14

            	
              21

            	
              17

            	
              16

            	
              60

            	
              60

            	
              457

            	
              166,819

            	
              105

            	
              597

            	
              702

            	
              256,191

            	
              0

            
	
              2022

            	
              365

            	
              17.0

            	
              20

            	
              15

            	
              50

            	
              24

            	
              25

            	
              24

            	
              18

            	
              19

            	
              21

            	
              14

            	
              11

            	
              17

            	
              14

            	
              13

            	
              51

            	
              51

            	
              389

            	
              142,033

            	
              91

            	
              532

            	
              623

            	
              227,411

            	
              0

            
	
              2023

            	
              365

            	
              17.0

            	
              17

            	
              13

            	
              45

            	
              20

            	
              22

            	
              21

            	
              15

            	
              16

            	
              18

            	
              11

            	
              9

            	
              14

            	
              11

            	
              10

            	
              44

            	
              44

            	
              332

            	
              121,040

            	
              79

            	
              474

            	
              553

            	
              201,899

            	
              0

            
	
              2024

            	
              365

            	
              17.0

            	
              15

            	
              11

            	
              40

            	
              18

            	
              19

            	
              18

            	
              12

            	
              13

            	
              15

            	
              9

            	
              7

            	
              12

            	
              9

            	
              8

            	
              38

            	
              38

            	
              283

            	
              103,243

            	
              69

            	
              423

            	
              491

            	
              179,279

            	
              0

            
	
              2025

            	
              365

            	
              17.0

            	
              13

            	
              9

            	
              36

            	
              15

            	
              16

            	
              16

            	
              10

            	
              11

            	
              13

            	
              7

            	
              6

            	
              10

            	
              7

            	
              7

            	
              32

            	
              32

            	
              241

            	
              88,143

            	
              60

            	
              377

            	
              436

            	
              159,218

            	
              0

            
	
              2026

            	
              365

            	
              17.0

            	
              11

            	
              7

            	
              32

            	
              13

            	
              14

            	
              14

            	
              8

            	
              9

            	
              11

            	
              6

            	
              5

            	
              8

            	
              6

            	
              6

            	
              28

            	
              28

            	
              206

            	
              75,319

            	
              52

            	
              336

            	
              387

            	
              141,423

            	
              0

            
	
              2027

            	
              365

            	
              17.0

            	
              9

            	
              6

            	
              29

            	
              11

            	
              12

            	
              12

            	
              7

            	
              8

            	
              9

            	
              5

            	
              4

            	
              6

            	
              5

            	
              5

            	
              24

            	
              24

            	
              176

            	
              64,419

            	
              45

            	
              299

            	
              344

            	
              125,636

            	
              0

            
	
              2028

            	
              365

            	
              17.0

            	
              8

            	
              5

            	
              26

            	
              10

            	
              11

            	
              10

            	
              6

            	
              6

            	
              8

            	
              4

            	
              3

            	
              5

            	
              4

            	
              4

            	
              21

            	
              21

            	
              151

            	
              55,145

            	
              39

            	
              267

            	
              306

            	
              111,626

            	
              0

            
	
              2029

            	
              365

            	
              17.0

            	
              7

            	
              4

            	
              23

            	
              9

            	
              9

            	
              9

            	
              5

            	
              5

            	
              6

            	
              3

            	
              3

            	
              4

            	
              3

            	
              3

            	
              18

            	
              18

            	
              129

            	
              47,248

            	
              34

            	
              238

            	
              272

            	
              99,191

            	
              0

            
	
              2030

            	
              365

            	
              17.0

            	
              6

            	
              3

            	
              21

            	
              7

            	
              8

            	
              8

            	
              4

            	
              4

            	
              5

            	
              3

            	
              2

            	
              3

            	
              3

            	
              2

            	
              15

            	
              15

            	
              111

            	
              40,518

            	
              30

            	
              212

            	
              242

            	
              88,153

            	
              0

            
	
              2031

            	
              365

            	
              17.0

            	
              5

            	
              3

            	
              19

            	
              6

            	
              7

            	
              7

            	
              3

            	
              4

            	
              5

            	
              2

            	
              2

            	
              3

            	
              2

            	
              2

            	
              13

            	
              13

            	
              95

            	
              34,777

            	
              26

            	
              189

            	
              215

            	
              78,352

            	
              1,700

            
	
              Total

            	 
      	
              237,953

            	
              209,190

            	
              468,239

            	
              256,550

            	
              264,013

            	
              261,089

            	
              260,808

            	
              255,955

            	
              267,902

            	
              224,505

            	
              170,582

            	
              256,214

            	
              197,993

            	
              193,220

            	
              490,462

            	
              490,462

            	 
      	
              4,503,442

            	
              1,131,824

            	
              4,469,000

            	 
      	
              5,458,823

            	
              14,450

            
	
              Decline
      % =

            	 
      	
              15%

            	
              17%

            	
              10%

            	
              13%

            	
              13%

            	
              13%

            	
              18%

            	
              17%

            	
              16%

            	
              19%

            	
              19%

            	
              18%

            	
              18%

            	
              19%

            	
              14%

            	
              14%

            	 
      	 
      	 
      	
              11%

            	 
      	 
      	 
      
	
              Average
      GOR

            	
              Scf/

              STB

            	
              600

            	
              800

            	
              450

            	
              600

            	
              600

            	
              600

            	
              350

            	
              350

            	
              350

            	
              350

            	
              350

            	
              350

            	
              350

            	
              350

            	
              500

            	
              500

            	 
      	 
      	 
      	 
      	 
      	 
      	 
      

    

     

     

    
      
         

      

      
        76

        
          

        

      

      
         

      

    

    
 

    
      	
              Table
      4c, Page 2

            
	
              GEOGLOBAL
      RESOURCES INC.

            
	
              Block
      CB-ON/2, Tarapur, India

            
	
              Total
      Proved Plus Probable

            
	
              Revenue
      and Production Splits

            
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	
              Operating
      Costs

            	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	
              Gross
      Oil Production

            	
              Gross
      Gas Production

            	
              Oil
      Price

            	
              Gas
      Price

            	
              Gross
      Revenue

            	
              Fixed

            	
              Variable

            	
              Total

            	
              Annual
      Costs For Recovery

            	
              Cumulative
      Outstanding Costs

            	
              Contractor
      Cumulative Cash Flow

            	
              Contractor's
      Cost Petroleum Revenue

            	
              Contractor's
      Profit Petroleum Revenue

            	
              Capital
      Portion of Cost Petroleum

            	
              Opex
      Portion of Cost Petroleum

            	
              Company
      Share Sales Oil

            	
              Company
      Share Sales Gas

            	
              Company
      Share of Revenue

            
	
              Year

            	
              STB/Yr

            	
              Mscf/yr.

            	
              $/STB

            	
              $/Mscf

            	
              M$/yr

            	
              M$/yr

            	
              Oil
      M$/yr

            	
              Gas
      M$/yr

            	
              M$/yr

            	
              M$/yr

            	
              M$/yr

            	
              M$/yr

            	
              M$/yr

            	
              M$/yr

            	
              M$/yr

            	
              M$/yr

            	
              MSTB

            	
              MMscf

            	
              M$/yr

            
	
              2010

            	
              135,780

            	
              75,957

            	
              57.80

            	
              7.00

            	
              8,380

            	
              1,900

            	
              361

            	
              27

            	
              2,288

            	
              2,288

            	
              42,208

            	
              (33,547)

            	
              6,704

            	
              1,676

            	
              4,416

            	
              2,288

            	
              23

            	
              13

            	
              1,438

            
	
              2011

            	
              118,605

            	
              66,045

            	
              57.80

            	
              7.00

            	
              7,318

            	
              1,900

            	
              315

            	
              23

            	
              2,239

            	
              2,239

            	
              37,743

            	
              (28,468)

            	
              5,854

            	
              1,464

            	
              3,616

            	
              2,239

            	
              20

            	
              11

            	
              1,241

            
	
              2012

            	
              569,400

            	
              141,438

            	
              57.80

            	
              7.00

            	
              33,901

            	
              1,900

            	
              1,515

            	
              50

            	
              3,464

            	
              12,214

            	
              44,103

            	
              (6,781)

            	
              27,121

            	
              6,780

            	
              14,907

            	
              12,214

            	
              95

            	
              24

            	
              5,641

            
	
              2013

            	
              624,291

            	
              669,525

            	
              57.80

            	
              7.00

            	
              40,771

            	
              1,900

            	
              1,661

            	
              234

            	
              3,795

            	
              7,795

            	
              24,777

            	
              26,195

            	
              24,777

            	
              15,994

            	
              16,982

            	
              7,795

            	
              103

            	
              110

            	
              6,727

            
	
              2014

            	
              527,665

            	
              593,289

            	
              57.80

            	
              7.00

            	
              34,652

            	
              1,900

            	
              1,404

            	
              208

            	
              3,511

            	
              3,511

            	
              3,511

            	
              57,336

            	
              3,511

            	
              31,141

            	
              0

            	
              3,511

            	
              74

            	
              83

            	
              4,851

            
	
              2015

            	
              446,399

            	
              525,865

            	
              57.80

            	
              7.00

            	
              29,483

            	
              1,900

            	
              1,187

            	
              184

            	
              3,271

            	
              3,271

            	
              3,271

            	
              80,926

            	
              3,271

            	
              23,590

            	
              0

            	
              3,271

            	
              57

            	
              67

            	
              3,761

            
	
              2016

            	
              377,993

            	
              466,217

            	
              57.80

            	
              7.00

            	
              25,112

            	
              1,900

            	
              1,005

            	
              163

            	
              3,069

            	
              3,069

            	
              3,069

            	
              98,560

            	
              3,069

            	
              17,634

            	
              0

            	
              3,069

            	
              44

            	
              54

            	
              2,898

            
	
              2017

            	
              320,362

            	
              413,429

            	
              57.80

            	
              7.00

            	
              21,411

            	
              1,900

            	
              852

            	
              145

            	
              2,897

            	
              2,897

            	
              2,897

            	
              113,372

            	
              2,897

            	
              14,811

            	
              0

            	
              2,897

            	
              37

            	
              48

            	
              2,479

            
	
              2018

            	
              271,766

            	
              366,699

            	
              57.80

            	
              7.00

            	
              18,275

            	
              1,900

            	
              723

            	
              128

            	
              2,751

            	
              2,751

            	
              2,751

            	
              124,238

            	
              2,751

            	
              10,867

            	
              0

            	
              2,751

            	
              28

            	
              38

            	
              1,907

            
	
              2019

            	
              230,753

            	
              325,318

            	
              57.80

            	
              7.00

            	
              15,615

            	
              1,900

            	
              614

            	
              114

            	
              2,628

            	
              2,628

            	
              2,628

            	
              132,030

            	
              2,628

            	
              7,792

            	
              0

            	
              2,628

            	
              22

            	
              30

            	
              1,459

            
	
              2020

            	
              196,109

            	
              288,665

            	
              57.80

            	
              7.00

            	
              13,356

            	
              1,900

            	
              522

            	
              101

            	
              2,523

            	
              2,523

            	
              2,523

            	
              138,530

            	
              2,523

            	
              6,500

            	
              0

            	
              2,523

            	
              19

            	
              27

            	
              1,263

            
	
              2021

            	
              166,819

            	
              256,191

            	
              57.80

            	
              7.00

            	
              11,435

            	
              1,900

            	
              444

            	
              90

            	
              2,433

            	
              2,433

            	
              2,433

            	
              143,932

            	
              2,433

            	
              5,401

            	
              0

            	
              2,433

            	
              16

            	
              25

            	
              1,097

            
	
              2022

            	
              142,033

            	
              227,411

            	
              57.80

            	
              7.00

            	
              9,801

            	
              1,900

            	
              378

            	
              80

            	
              2,357

            	
              2,357

            	
              2,357

            	
              148,398

            	
              2,357

            	
              4,466

            	
              0

            	
              2,357

            	
              14

            	
              22

            	
              955

            
	
              2023

            	
              121,040

            	
              201,899

            	
              57.80

            	
              7.00

            	
              8,409

            	
              1,900

            	
              322

            	
              71

            	
              2,293

            	
              2,293

            	
              2,293

            	
              151,456

            	
              2,293

            	
              3,058

            	
              0

            	
              2,293

            	
              11

            	
              18

            	
              749

            
	
              2024

            	
              103,243

            	
              179,279

            	
              57.80

            	
              7.00

            	
              7,222

            	
              1,900

            	
              275

            	
              63

            	
              2,237

            	
              2,237

            	
              2,237

            	
              153,949

            	
              2,237

            	
              2,493

            	
              0

            	
              2,237

            	
              9

            	
              16

            	
              662

            
	
              2025

            	
              88,143

            	
              159,218

            	
              57.80

            	
              7.00

            	
              6,209

            	
              1,900

            	
              234

            	
              56

            	
              2,190

            	
              2,190

            	
              2,190

            	
              155,958

            	
              2,190

            	
              2,010

            	
              0

            	
              2,190

            	
              8

            	
              15

            	
              588

            
	
              2026

            	
              75,319

            	
              141,423

            	
              57.80

            	
              7.00

            	
              5,343

            	
              1,900

            	
              200

            	
              49

            	
              2,150

            	
              2,150

            	
              2,150

            	
              157,555

            	
              2,150

            	
              1,597

            	
              0

            	
              2,150

            	
              7

            	
              14

            	
              525

            
	
              2027

            	
              64,419

            	
              125,636

            	
              57.80

            	
              7.00

            	
              4,603

            	
              1,900

            	
              171

            	
              44

            	
              2,115

            	
              2,115

            	
              2,115

            	
              158,799

            	
              2,115

            	
              1,244

            	
              0

            	
              2,115

            	
              7

            	
              13

            	
              470

            
	
              2028

            	
              55,145

            	
              111,626

            	
              57.80

            	
              7.00

            	
              3,969

            	
              1,900

            	
              147

            	
              39

            	
              2,086

            	
              2,086

            	
              2,086

            	
              159,740

            	
              2,086

            	
              942

            	
              0

            	
              2,086

            	
              6

            	
              12

            	
              424

            
	
              2029

            	
              47,248

            	
              99,191

            	
              57.80

            	
              7.00

            	
              3,425

            	
              1,900

            	
              126

            	
              35

            	
              2,060

            	
              2,060

            	
              2,060

            	
              160,423

            	
              2,060

            	
              682

            	
              0

            	
              2,060

            	
              5

            	
              11

            	
              384

            
	
              2030

            	
              40,518

            	
              88,153

            	
              57.80

            	
              7.00

            	
              2,959

            	
              1,900

            	
              108

            	
              31

            	
              2,039

            	
              2,039

            	
              2,039

            	
              160,883

            	
              2,039

            	
              460

            	
              0

            	
              2,039

            	
              5

            	
              10

            	
              350

            
	
              2031

            	
              34,777

            	
              78,352

            	
              57.80

            	
              7.00

            	
              2,559

            	
              1,900

            	
              93

            	
              27

            	
              2,020

            	
              2,020

            	
              2,020

            	
              161,152

            	
              2,020

            	
              269

            	
              0

            	
              2,020

            	
              4

            	
              10

            	
              320

            
	
              Total

            	
              4,757,828

            	
              5,600,824

            	 
      	 
      	
              314,208

            	
              41,800

            	
              12,656

            	
              1,960

            	
              56,416

            	
              69,166

            	 
      	 
      	
              109,087

            	
              160,871

            	
              39,920

            	
              69,166

            	
              614

            	
              672

            	
              40,189

            
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	
              2.66

            	
              0.35

            	 
      	
              Contractor
      Sunk Capital =

            	
              43,900

            	 
      	
              80%

            	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	
              per
      barrel

            	
              per
      Mscf

            	 
      	 
      	 
      	 
      	
              maximum

            	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	
              cost
      recovery

            	 
      	 
      	 
      	 
      	 
      	 
      

    

    

     

    
      
         

      

      
        77

        
          

        

      

      
         

      

    

     

    
 

    
      	
              Table
      4c, Page 3

            
	
              GEOGLOBAL
      RESOURCES INC.

            
	
              Block
      CB-ON/2, Tarapur, India

            
	
              Total
      Proved Plus Probable

            
	
              R
      Factor Determination

            	
              Company
      Net Cash Flow

            
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	
              Discounted
      @

            
	 
      	
              Contractor
      Cum Net Cash Income

            	
              Contractor
      Capital

            	
              Capital
      Int.

            	
              Company
      Net Capital

            	
              Contractor
      Cum Net Capital

            	
              R
      Factor

            	
              Contractor
      Profit Share

            	 
      	 
      	
              Company
      Net Cash Flow

            	
              Company
      Taxable Income

            	
              Available
      Tax Pools

            	
              Company
      Income Tax

            	
              Company
      After Tax Cash Flow

            	
              5%

            	
              10%

            	
              15%

            	
              20%

            
	
              Year

            	
              M$

            	
              M$/yr

            	 
      	
              M$/yr

            	
              M$

            	
              Ratio

            	
              Frac.

            	 
      	
              Year

            	
              M$

            	
              M$

            	
              M$

            	
              M$

            	
              M$

            	
              M$

            	
              M$

            	
              M$

            	
              M$

            
	
              2010

            	
              10,353

            	
              0

            	
              14.00%

            	
              0

            	
              43,900

            	
              0.24

            	
              1.0

            	 
      	
              2010

            	
              1,118

            	
              0

            	
              7,988

            	
              0

            	
              1,118

            	
              1,091

            	
              1,066

            	
              1,042

            	
              1,020

            
	
              2011

            	
              15,432

            	
              0

            	
              14.00%

            	
              0

            	
              43,900

            	
              0.35

            	
              1.0

            	 
      	
              2011

            	
              928

            	
              0

            	
              6,870

            	
              0

            	
              928

            	
              863

            	
              804

            	
              752

            	
              706

            
	
              2012

            	
              45,869

            	
              8,750

            	
              14.00%

            	
              1225

            	
              52,650

            	
              0.87

            	
              1.0

            	 
      	
              2012

            	
              3,931

            	
              0

            	
              5,942

            	
              0

            	
              3,931

            	
              3,479

            	
              3,097

            	
              2,772

            	
              2,492

            
	
              2013

            	
              82,845

            	
              4,000

            	
              14.00%

            	
              560

            	
              56,650

            	
              1.46

            	
              1.0

            	 
      	
              2013

            	
              5,636

            	
              228

            	
              2,011

            	
              94

            	
              5,542

            	
              4,672

            	
              3,970

            	
              3,398

            	
              2,927

            
	
              2014

            	
              113,986

            	
              0

            	
              14.00%

            	
              0

            	
              56,650

            	
              2.01

            	
              0.90

            	 
      	
              2014

            	
              4,360

            	
              4,360

            	
              0

            	
              1,796

            	
              2,564

            	
              2,058

            	
              1,669

            	
              1,367

            	
              1,129

            
	
              2015

            	
              137,576

            	
              0

            	
              14.00%

            	
              0

            	
              56,650

            	
              2.43

            	
              0.80

            	 
      	
              2015

            	
              3,303

            	
              3,303

            	
              0

            	
              1,361

            	
              1,942

            	
              1,485

            	
              1,150

            	
              900

            	
              712

            
	
              2016

            	
              155,210

            	
              0

            	
              14.00%

            	
              0

            	
              56,650

            	
              2.74

            	
              0.80

            	 
      	
              2016

            	
              2,469

            	
              2,469

            	
              0

            	
              1,017

            	
              1,452

            	
              1,057

            	
              781

            	
              585

            	
              444

            
	
              2017

            	
              170,022

            	
              0

            	
              14.00%

            	
              0

            	
              56,650

            	
              3.00

            	
              0.70

            	 
      	
              2017

            	
              2,074

            	
              2,074

            	
              0

            	
              854

            	
              1,219

            	
              846

            	
              597

            	
              427

            	
              311

            
	
              2018

            	
              180,888

            	
              0

            	
              14.00%

            	
              0

            	
              56,650

            	
              3.19

            	
              0.60

            	 
      	
              2018

            	
              1,521

            	
              1,521

            	
              0

            	
              627

            	
              895

            	
              591

            	
              398

            	
              273

            	
              190

            
	
              2019

            	
              188,680

            	
              0

            	
              14.00%

            	
              0

            	
              56,650

            	
              3.33

            	
              0.60

            	 
      	
              2019

            	
              1,091

            	
              1,091

            	
              0

            	
              449

            	
              641

            	
              404

            	
              259

            	
              170

            	
              113

            
	
              2020

            	
              195,180

            	
              0

            	
              14.00%

            	
              0

            	
              56,650

            	
              3.45

            	
              0.60

            	 
      	
              2020

            	
              910

            	
              910

            	
              0

            	
              375

            	
              535

            	
              321

            	
              197

            	
              123

            	
              79

            
	
              2021

            	
              200,582

            	
              0

            	
              14.00%

            	
              0

            	
              56,650

            	
              3.54

            	
              0.60

            	
               

            	
              2021

            	
              756

            	
              756

            	
              0

            	
              312

            	
              445

            	
              254

            	
              149

            	
              89

            	
              55

            
	
              2022

            	
              205,048

            	
              0

            	
              14.00%

            	
              0

            	
              56,650

            	
              3.62

            	
              0.50

            	 
      	
              2022

            	
              625

            	
              625

            	
              0

            	
              258

            	
              368

            	
              200

            	
              112

            	
              64

            	
              38

            
	
              2023

            	
              208,106

            	
              0

            	
              14.00%

            	
              0

            	
              56,650

            	
              3.67

            	
              0.50

            	 
      	
              2023

            	
              428

            	
              428

            	
              0

            	
              176

            	
              252

            	
              130

            	
              70

            	
              38

            	
              21

            
	
              2024

            	
              210,599

            	
              0

            	
              14.00%

            	
              0

            	
              56,650

            	
              3.72

            	
              0.50

            	 
      	
              2024

            	
              349

            	
              349

            	
              0

            	
              144

            	
              205

            	
              101

            	
              52

            	
              27

            	
              15

            
	
              2025

            	
              212,608

            	
              0

            	
              14.00%

            	
              0

            	
              56,650

            	
              3.75

            	
              0.50

            	 
      	
              2025

            	
              281

            	
              281

            	
              0

            	
              116

            	
              165

            	
              78

            	
              38

            	
              19

            	
              10

            
	
              2026

            	
              214,205

            	
              0

            	
              14.00%

            	
              0

            	
              56,650

            	
              3.78

            	
              0.50

            	 
      	
              2026

            	
              224

            	
              224

            	
              0

            	
              92

            	
              131

            	
              59

            	
              27

            	
              13

            	
              6

            
	
              2027

            	
              215,449

            	
              0

            	
              14.00%

            	
              0

            	
              56,650

            	
              3.80

            	
              0.50

            	 
      	
              2027

            	
              174

            	
              174

            	
              0

            	
              72

            	
              102

            	
              44

            	
              19

            	
              9

            	
              4

            
	
              2028

            	
              216,390

            	
              0

            	
              14.00%

            	
              0

            	
              56,650

            	
              3.82

            	
              0.50

            	 
      	
              2028

            	
              132

            	
              132

            	
              0

            	
              54

            	
              78

            	
              31

            	
              13

            	
              6

            	
              3

            
	
              2029

            	
              217,073

            	
              0

            	
              14.00%

            	
              0

            	
              56,650

            	
              3.83

            	
              0.50

            	 
      	
              2029

            	
              96

            	
              96

            	
              0

            	
              39

            	
              56

            	
              22

            	
              9

            	
              4

            	
              2

            
	
              2030

            	
              217,533

            	
              0

            	
              14.00%

            	
              0

            	
              56,650

            	
              3.84

            	
              0.50

            	 
      	
              2030

            	
              64

            	
              64

            	
              0

            	
              27

            	
              38

            	
              14

            	
              5

            	
              2

            	
              1

            
	
              2031

            	
              217,802

            	
              1,700

            	
              14.00%

            	
              238

            	
              58,350

            	
              3.73

            	
              0.50

            	 
      	
              2031

            	
              (200)

            	
              0

            	
              0

            	
              0

            	
              (200)

            	
              (70)

            	
              (26)

            	
              (10)

            	
              (4)

            
	
              Total

            	 
      	
              14,450

            	 
      	
              2,023

            	 
      	 
      	 
      	 
      	
              Total

            	
              30,268

            	 
      	 
      	
              7,863

            	
              22,405

            	
              17,727

            	
              14,455

            	
              12,071

            	
              10,273

            
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	
              Company
      Capital Interest =

            	
              14.0%

            	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	
              Company
      Working Interest =

            	
              14.0%

            	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	
              Capex
      Recovery=

            	
              20.0%

            	 
      	 
      	 
      	 
      

    

    
      
         

      

      
        78

        
          

        

      

      
         

      

    

    

    

    Glossary
of Terms

    (Abbreviations
& Definitions)

    

    

    General

    

    

    
      	
              BIT

            	
              -

            	
              Before
      Income Tax

            
	 
      	 
      	 
      
	
              AIT

            	
              -

            	
              After
      Income Tax

            
	 
      	 
      	 
      
	
              M$

            	
              -

            	
              Thousands
      of Dollars

            
	 
      	 
      	 
      
	
              Effective
      Date

            	
              -

            	
              The
      date for which the Present Value of the future cash flows and reserve
      categories are established

            
	 
      	 
      	 
      
	
              $US

            	
              -

            	
              United
      States Dollars

            
	 
      	 
      	 
      
	
              WTI

            	
              -

            	
              West
      Texas Intermediate – the common reference for crude oil used for oil price
      comparisons

            
	 
      	 
      	 
      
	
              ARTC

            	
              -

            	
              Alberta
      Royalty Tax Credit

            
	 
      	 
      	 
      
	
              GRP

            	
              -

            	
              Gas
      Reference Price

            

    

    

    

    Interests and
Royalties

    

    

    
      	
              BPO

            	
              -

            	
              Before
      Payout

            
	 
      	 
      	 
      
	
              APO

            	
              -

            	
              After
      Payout

            
	 
      	 
      	 
      
	
              APPO

            	
              -

            	
              After
      Project Payout

            
	 
      	 
      	 
      
	
              Payout

            	
              -

            	
              The
      point at which a participant’s original capital investment is recovered
      from its net revenue

            
	 
      	 
      	 
      
	
              GORR

            	
              -

            	
              Gross
      Overriding Royalty – percentage of revenue on gross revenue earned (can be
      an interest or a burden)

            
	 
      	 
      	 
      
	
              NC

            	
              -

            	
              New
      Crown – crown royalty on petroleum and natural gas discovered after April
      30, 1974

            
	 
      	 
      	 
      
	
              SS
      1/150 (5%-15%) Oil

            	
              -

            	
              Sliding
      Scale Royalty – a varying gross overriding royalty based on monthly
      production.  Percentage is calculated as 1-150th
      of monthly production with a minimum percentage of 5% and a maximum of
      15%

            
	 
      	 
      	 
      
	
              FH

            	
              -

            	
              Freehold
      Royalty

            

    

    

    

    
      
         

      

      
        79

        
          

        

      

      
         

      

    

    Technical
Data

    

    

    
      	
              psia

            	
              -

            	
              pounds
      per square inch absolute

            
	 
      	 
      	 
      
	
              MSTB

            	
              -

            	
              Thousands
      of Stock Tank Barrels of oil (oil volume at 60 F and 14.65
      psia)

            
	 
      	 
      	 
      
	
              MMscf

            	
              -

            	
              millions
      of standard cubic feet of gas (gas volume at 60 F and 14.65
      psia)

            
	 
      	 
      	 
      
	
              Bbls

            	
              -

            	
              barrels

            
	 
      	 
      	 
      
	
              Mbbls

            	
              -

            	
              thousands
      of barrels

            
	 
      	 
      	 
      
	
              NGL

            	
              -

            	
              Natural
      Gas Liquids – hydrocarbon fluids processed from natural
  gas

            
	 
      	 
      	 
      
	
              MMBTU

            	
              -

            	
              Millions
      of British Thermal Units – heating value of natural gas

            
	 
      	 
      	 
      
	
              STB/d

            	
              -

            	
              Stock
      Tank Barrels of oil per day – oil production rate

            
	 
      	 
      	 
      
	
              Mscf/d

            	
              -

            	
              thousands
      of standard cubic feet of gas per day – gas production
  rate

            
	 
      	 
      	 
      
	
              GOR
      (scf/STB)

            	
              -

            	
              Gas-Oil
      Ratio (standard cubic feet of solution gas per stock tank barrel of
      oil)

            
	 
      	 
      	 
      
	
              mKB

            	
              -

            	
              Metres
      Kelly Bushing – depth of well in relation to the Kelly Bushing which is
      located on the floor of the drilling rig.  The Kelly Bushing is
      the usual reference for all depth measurements during drilling
      operations.

            
	 
      	 
      	 
      
	
              EOR

            	
              -

            	
              Enhanced
      Oil Recovery

            
	 
      	 
      	 
      
	
              GJ

            	
              -

            	
              Gigajoules

            

    

    

    

    
      
         

      

      
        80

        
          

        

      

      
         

      

    

    March 4,
2010

    

    

    

    

    

    Chapman
Petroleum Engineering Ltd.

    445, 708
- 11 Avenue SW

    Calgary,
AB T2R 0E4

    

    Dear
Sir:

    

    Re:         Company Representation
Letter                                                                             

    

    Regarding
the evaluation of our Company's oil and gas reserves and independent appraisal
of the economic value of these reserves for the year ended December 31, 2009,
(the effective date), we herein confirm to the best of our knowledge and belief
as of the effective date of the reserves evaluation, and as applicable, as of
today, the following representations and information made available to you
during the conduct of the evaluation:

    

    
      	
              1.  

            	
              We,
      GeoGlobal Resources Inc., (the Client) have made available to you, Chapman
      Petroleum Engineering Ltd. (the Evaluator) certain records, information,
      and data relating to the evaluated properties that we confirm is, with the
      exception of immaterial items, complete and accurate as of the effective
      date of the reserves evaluation, including the
  following:

            

    

    
      	
              ·  

            	
              Accounting,
      financial, tax and contractual
data;

            

    

    
      	
              ·  

            	
              Asset
      ownership and related encumbrance
information;

            

    

    
      	
              ·  

            	
              Details
      concerning product marketing, transportation and processing
      arrangements;

            

    

    
      	
              ·  

            	
              All
      technical information including geological, engineering and production and
      test data;

            

    

    
      	
              ·  

            	
              Estimates
      of future abandonment and reclamation
costs.

            

    

    

    
      	
              2.  

            	
              We
      confirm that all financial and accounting information provided to you is,
      to the best of our knowledge, both on an individual entity basis and in
      total, entirely consistent with that reported by our Company for public
      disclosure and audit purposes.

            

    

    

    
      	
              3.  

            	
              We
      confirm that our Company has satisfactory title to all of the assets,
      whether tangible, intangible, or otherwise, for which accurate and current
      ownership information has been
provided.

            

    

    

    
      	
              4.  

            	
              With
      respect to all information provided to you regarding product marketing,
      transportation, and processing arrangements, we confirm that we have
      disclosed to you all anticipated changes, terminations, and additions to
      these arrangements that could reasonably be expected to have a material
      effect on the evaluation of our Company's reserves and future net
      revenues.

            

    

    

    

    
      
         

      

      
        81

        
          

        

      

      
         

      

    

    

    

    
      	
              5.  

            	
              With
      the possible exception of items of an immaterial nature, we confirm the
      following as of the effective date of the
  evaluation:

            

    

    
      	
              ·  

            	
              For
      all operated properties that you have evaluated, no changes have occurred
      or are reasonably expected to occur to the operating conditions or methods
      that have been used by our Company over the past twelve (12) months,
      except as disclosed to you.  In the case of non-operated
      properties, we have advised you of any such changes of which we have been
      made aware.

            

    

    
      	
              ·  

            	
              All
      regulatory, permits, and licenses required to allow continuity of future
      operations and production from the evaluated properties are in place and,
      except as disclosed to you, there are no directives, orders, penalties, or
      regulatory rulings in effect or expected to come into effect relating to
      the evaluated properties.

            

    

    
      	
              ·  

            	
              Except
      as disclosed to you, the producing trend and status of each evaluated well
      or entity in effect throughout the three-month period preceding the
      effective date of the evaluation are consistent with those that existed
      for the same well or entity immediately prior to this three-month
      period.

            

    

    
      	
              ·  

            	
              Except
      as disclosed to you, we have no plans or intentions related to the
      ownership, development or operation of the evaluated properties that could
      reasonably be expected to materially affect the production levels or
      recovery of reserves from the evaluated
  properties.

            

    

    
      	
              ·  

            	
              If
      material changes of an adverse nature occur in the Company's operating
      performance subsequent to the effective date and prior to the report data,
      we will inform you of such material changes prior to requesting your
      approval for any public disclosure of reserves
  information.

            

    

    

    Between
the effective date of the report and the date of this letter, nothing has come
to our attention that has materially affected or could affect our reserves and
economic value of these reserves that has not been disclosed to
you.

    

    Yours
truly,

    

    GEOGLOBAL
RESOURCES
INC.                                                                           GEOGLOBAL
RESOURCES INC.

    

    /s/
Jean Paul
Roy                                                                           /s/
Allan J. Kent

    

    Jean
P.
Roy                                                                           Allan
J. Kent

    President
&
CFO                                                                           Executive
VP & CFO

    
      
         

      

      
        82knightjpm.htm - Generated by SEC Publisher for SEC Filing

 

Exhibit 10.1(c)

 

JPMorgan Chase Bank, National Association 

P.O. Box 161 

60 Victoria Embankment 

London EC4Y 0JP

England

     March 26, 2010 

To: Knight Capital Group, Inc.

545 Washington Boulevard 

Jersey City, NJ 07310 

Attention: Treasurer 

Telephone No.: 201-222-9400 

Facsimile No.: 201-748-5521

Re: Amendment to Call Option Transaction

     This letter agreement (this “Amendment”) amends the terms and conditions of the call option transaction (the “Transaction”) evidenced by the letter agreement between JPMorgan Chase Bank, National Association, London Branch (“Dealer”) and Knight Capital Group, Inc. (“Counterparty”) dated as of March 15, 2010 (the “Confirmation”).

     1. Definitions. Capitalized terms used herein without definition shall have the meanings assigned to them in the Confirmation.

     2. Representations and Warranties of Counterparty. Each of the representations and warranties made pursuant to the Agreement and the Confirmation on the Trade Date are hereby deemed to be repeated on the date hereof as if references to the Trade Date were references to the date hereof.

       3. Amendments. The Confirmation is hereby amended as follows: 

(a) The “Number of Options” shall be increased by 50,000. 

(b) The “Applicable Percentage” shall be 68.293%.

     4. Effectiveness. This Amendment shall become effective upon the Additional Closing Date (as defined in the Purchase Agreement). Upon the effectiveness of this Amendment, all references in the Confirmation to the “Transaction” will be deemed to be to the Transaction as amended hereby. Except as amended hereby, all the terms of the Transaction and provisions in the Confirmation shall remain and continue in full force and effect and are hereby confirmed in all respects.

     5. Counterparts. This Amendment may be signed in any number of counterparts, each of which shall be an original, with the same effect as if all of the signatures thereto and hereto were upon the same instrument.

     6. Governing Law. The provisions of this Amendment shall be governed by the laws of the State of New York law (without reference to choice of law doctrine).

 

 

       Please confirm that the foregoing correctly sets forth the terms of our agreement by executing this Amendment and returning it to EDG Confirmation Group, J.P. Morgan Securities, Inc., 277 Park Avenue, 11th Floor, New York, NY 10172-3401, or by fax to (212) 622 8519.

Very truly yours,

J.P. Morgan Securities Inc., as agent for

JP Morgan Chase Bank, National Association

By: /s/ Jeffrey Zajkowski                                       

Authorized Signatory

Name: Jeffrey Zajkowski

 

Accepted and confirmed 

as of the date set forth above:

Knight Capital Group, Inc.

By: /s/ Steven Bisgay                                        

Authorized Signatory

Name: Steven Bisgay

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00171-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00171-of-00352.parquet"}]]