SCHLUMBERGER Survey report 22-Dec-2008 04:33:43 Page 1 of 3 Client...................: Beach Petroleum Field....................: Fermat Well.....................: Fermat-1 Spud date................: 14-Dec-08 API number...............: 08ASQ0034 Last survey date.........: 22-Dec-08 Engineer.................: Joshua Seevaratnam Total accepted surveys...: 43 MD of first survey.......: 0.00 m Rig:.....................: West Triton MD of last survey........: 1525.13 m State:...................: VIC ----- Survey calculation methods------------- ----- Geomagnetic data ---------------------- Method for positions.....: Minimum curvature Magnetic model...........: BGGM version 2008 Method for DLS...........: Mason & Taylor Magnetic date............: 15-Dec-2008 Magnetic field strength..: 1214.44 HCNT ----- Depth reference ----------------------- Magnetic dec (+E/W-).....: 9.87 degrees Permanent datum..........: Mean Sea Level Magnetic dip.............: -69.62 degrees Depth reference..........: Driller's Depth GL above permanent.......: 81.00 m ----- MWD survey Reference Criteria --------- KB above permanent.......: 43.00 m Reference G..............: 1000.02 mGal DF above permanent.......: 43.00 m Reference H..............: 1214.44 HCNT Reference Dip............: -69.62 degrees ----- Vertical section origin---------------- Tolerance of G...........: (+/-) 2.50 mGal Latitude (+N/S-).........: 0.00 m Tolerance of H...........: (+/-) 6.00 HCNT Departure (+E/W-)........: 0.00 m Tolerance of Dip.........: (+/-) 0.45 degrees ----- Platform reference point--------------- ----- Corrections --------------------------- Latitude (+N/S-).........: 0.00 m Magnetic dec (+E/W-).....: 9.87 degrees Departure (+E/W-)........: 0.00 m Grid convergence (+E/W-).: -0.03 degrees Total az corr (+E/W-)....: 9.90 degrees Azimuth from Vsect Origin to target: 0.00 degrees (Total az corr = magnetic dec - grid conv) Survey Correction Type ...: I=Sag Corrected Inclination M=Schlumberger Magnetic Correction S=Shell Magnetic Correction F=Failed Axis Correction R=Magnetic Resonance Tool Correction D=Dmag Magnetic Correction [(c)2008 IDEAL ID13_0C_14] SCHLUMBERGER Survey Report 22-Dec-2008 04:33:43 Page 2 of 3 === ======== ====== ======= ====== ======== ======== ================ =============== ===== ===== ====== Seq Measured Incl Azimuth Course TVD Vertical Displ Displ Total At DLS Srvy Tool # depth angle angle length depth section +N/S- +E/W- displ Azim (deg/ tool Corr - (m) (deg) (deg) (m) (m) (m) (m) (m) (m) (deg) D/M type (deg) === ======== ====== ======= ====== ======== ======== ================ =============== ===== ===== ====== 1 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 TIP None 2 167.75 1.24 1.78 167.75 167.74 1.81 1.81 0.06 1.82 1.78 0.01 PUP None 3 197.16 0.28 58.77 29.41 197.14 2.17 2.17 0.13 2.17 3.37 0.04 PUP None 4 256.53 0.60 153.30 59.37 256.51 1.97 1.97 0.39 2.01 11.25 0.01 PUP None 5 286.11 2.77 188.85 29.58 286.08 1.12 1.12 0.35 1.18 17.37 0.08 PUP None 6 315.55 1.66 227.88 29.44 315.50 0.13 0.13 -0.07 0.15 330.76 0.06 PUP None 7 345.27 0.27 15.10 29.72 345.21 -0.09 -0.09 -0.38 0.39 256.86 0.06 PUP None 8 374.62 0.25 25.51 29.35 374.56 0.04 0.04 -0.33 0.33 276.37 0.00 PUP None 9 404.16 1.88 211.90 29.54 404.10 -0.32 -0.32 -0.56 0.64 240.47 0.07 PUP None 10 463.95 0.32 269.03 59.79 463.88 -1.15 -1.15 -1.24 1.70 227.20 0.03 PUP None 11 493.39 0.43 249.60 29.44 493.32 -1.19 -1.19 -1.43 1.86 230.18 0.01 PUP None 12 523.07 0.44 347.74 29.68 523.00 -1.12 -1.12 -1.56 1.92 234.31 0.02 PUP None 13 552.74 0.22 270.06 29.67 552.67 -1.01 -1.01 -1.64 1.92 238.42 0.02 PUP None 14 582.42 0.09 59.69 29.68 582.35 -1.00 -1.00 -1.68 1.95 239.28 0.01 PUP None 15 611.99 0.51 339.54 29.57 611.92 -0.86 -0.86 -1.70 1.91 243.17 0.02 PUP None 16 641.40 0.19 327.69 29.41 641.32 -0.70 -0.70 -1.77 1.91 248.54 0.01 PUP None 17 670.88 0.49 288.55 29.48 670.80 -0.62 -0.62 -1.92 2.02 252.21 0.01 PUP None 18 700.49 0.33 247.43 29.61 700.41 -0.61 -0.61 -2.12 2.20 253.98 0.01 PUP None 19 729.55 0.46 275.90 29.06 729.47 -0.63 -0.63 -2.31 2.40 254.79 0.01 PUP None 20 759.18 0.36 241.87 29.63 759.10 -0.66 -0.66 -2.51 2.60 255.28 0.01 PUP None 21 788.76 0.65 163.00 29.58 788.68 -0.86 -0.86 -2.54 2.69 251.24 0.02 PUP None 22 818.32 0.12 122.27 29.56 818.24 -1.04 -1.04 -2.47 2.68 247.14 0.02 PUP None 23 848.13 0.24 67.63 29.81 848.05 -1.03 -1.03 -2.39 2.60 246.57 0.01 PUP None 24 877.69 0.50 112.18 29.56 877.61 -1.06 -1.06 -2.21 2.45 244.38 0.01 PUP None 25 906.92 0.33 214.11 29.23 906.84 -1.18 -1.18 -2.14 2.44 241.17 0.02 PUP None 26 936.44 1.52 212.18 29.52 936.35 -1.58 -1.58 -2.39 2.87 236.60 0.04 PUP None 27 966.55 2.74 216.55 30.11 966.44 -2.49 -2.49 -3.04 3.93 230.58 0.04 PUP None 28 990.90 2.28 226.38 24.35 990.77 -3.30 -3.30 -3.73 4.98 228.55 0.03 PUP None 29 1023.76 2.63 224.84 32.86 1023.60 -4.28 -4.28 -4.74 6.39 227.89 0.01 PUP None 30 1053.62 2.63 224.67 29.86 1053.43 -5.26 -5.26 -5.70 7.75 227.34 0.00 PUP None [(c)2008 IDEAL ID13_0C_14] SCHLUMBERGER Survey Report 22-Dec-2008 04:33:43 Page 3 of 3 === ======== ====== ======= ====== ======== ======== ================ =============== ===== ===== ====== Seq Measured Incl Azimuth Course TVD Vertical Displ Displ Total At DLS Srvy Tool # depth angle angle length depth section +N/S- +E/W- displ Azim (deg/ tool Corr - (m) (deg) (deg) (m) (m) (m) (m) (m) (m) (deg) D/M type (deg) === ======== ====== ======= ====== ======== ======== ================ =============== ===== ===== ====== 31 1083.09 2.60 225.86 29.47 1082.87 -6.20 -6.20 -6.66 9.10 227.03 0.00 PUP None 32 1112.27 2.75 224.69 29.18 1112.02 -7.16 -7.16 -7.62 10.46 226.80 0.01 PUP None 33 1141.71 2.61 223.95 29.44 1141.42 -8.14 -8.14 -8.59 11.83 226.51 0.00 PUP None 34 1171.39 2.66 223.44 29.68 1171.07 -9.13 -9.13 -9.53 13.20 226.22 0.00 PUP None 35 1200.78 2.64 223.80 29.39 1200.43 -10.12 -10.12 -10.47 14.56 225.98 0.00 PUP None 36 1230.79 2.72 225.15 30.01 1230.41 -11.12 -11.12 -11.45 15.96 225.85 0.00 PUP None 37 1288.88 2.77 225.56 58.09 1288.43 -13.07 -13.07 -13.43 18.74 225.77 0.00 PUP None 38 1318.86 2.69 226.89 29.98 1318.38 -14.06 -14.06 -14.46 20.17 225.81 0.00 PUP None 39 1407.48 2.91 229.04 88.62 1406.89 -16.95 -16.95 -17.68 24.49 226.19 0.00 PUP None 40 1436.37 2.94 228.54 28.89 1435.74 -17.93 -17.93 -18.79 25.97 226.34 0.00 PUP None 41 1465.90 3.02 227.97 29.53 1465.23 -18.95 -18.95 -19.93 27.50 226.45 0.00 PUP None 42 1495.44 3.02 228.27 29.54 1494.73 -19.99 -19.99 -21.09 29.06 226.54 0.00 PUP None 43 1525.13 3.06 228.31 29.69 1524.38 -21.03 -21.03 -22.27 30.63 226.63 0.00 PUP None [(c)2008 IDEAL ID13_0C_14]