ESPERANZA BLOCK-

LOWER MAGDALENA BASIN-COLOMBIA

Geoproduction (wholly-owned subsidiary of Shona) owns & operates Esperanza

• 60,002 acres (100% WI)
• Significant gas discovery at Nelson
• 164 BCF⁽¹⁾ (gross)
• 19 MMCFPD contract signed with Cerro Matoso for 10 year term
• 5 MMCFPD gas contract signed with E2 for 7 year term
• Evaluating other gas sale opportunities
• Development activity underway

Have numerous other drill-ready prospects targeting 100 - 105 BCF from three 3D seismic surveys

• AVO seismic analysis reduces risk

30,000 acrea not covered by modern 3D Seismic to be explored