OrCrudeâ„¢ - Proven Technology, New Process

Delivering Our Oil Sands Advantage - Extensive resource base of 3 billion barrels.

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Message: SUMMARY

SUMMARY

posted on Apr 06, 2009 06:12PM

- 7.50+ Net Book Value

- 1.4Billion Barrels in reserve as part of Opti's 35% stake in Long Lake

- Cash on hand and access to cash currently at $450 Million with all of 2009 Long Lake Obligations pre-paid. Enough cash on hand to cover all expenses well into 2010 excluding current production revenues
- 35 Employees therefore very little employee expenses (Down from 400 before Nexen took over as Operator)
- OrCrude Patent 100% owned by Opti, without the OrCrude technology - Long Lake project wouldn"t exist!
- Oil Hedged at $77 per barrel for 2009 production estimates

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