Otto Energy Updates on Galoc Oil Field Reserves offshore the Philippines

• ER Jan. 1, 2013: 1P - 10.20 MMbbl (Gross), 3.37 MMbbl (Net); 2P - 13.10 MMbbl (Gross), 4.32 MMbbl (Net)
• Entitlement Production: 1P - minus 1.47 MMbbl (Gross), minus 0.48 MMbbl (Net); 2P - minus 1.47 MMbbl (Gross), minus 0.48 MMbbl (Net)
• Additions/Substractions: 1P - minus 0.39 MMbbl (Gross), minus 0.13 MMbbl (Net); 2P - minus 0.21 MMbbl (Gross), minus 0.07 (Net)
• ER Jan. 1, 2014: 1P - 8.34 MMbbl (Gross), 2.75 MMbbl (Net); 2P - 11.42 Mmbbl (Gross), 3.77 MMbbl (Net)

* MMbbl: million barrels

1P: Proved Reserves

2P: Proved and Probable Reserves