Summary - Parcel 1

• Parcel 1 is located in the Sable Sub-basin where 23 Significant Discoveries have been made to date.
• Light oil/condensate was discovered at the Penobscot field in early Cretaceous sandstones. Recoverable reserve range (P90 - P10): 4.2 - 12.8 E6M3 / 26.4 - 80.3 MMBbls.
• Additional deep exploration potential in Jurassic carbonate bank beneath existing Penobscot discovery.
• Only 30 km northeast of Sable Offshore Energy Project's Thebaud central processing facility.
• Shallow water parcel located in 50 - 150 m of water.

FIGURE: 13