Cougar Dome, LLC

Cougar Dome, LLC

OIL PRICES THROUGH TIME/REAL DOLLARS

Cougar Dome, LLC

1908

• Everett Degolyer (future Chief Geologist for Amoco) is advised by his geology professor-”you boys were born to late for oil geology. All of the big oil fields have been discovered-Spindletop, Glenn Pool, Illinois, California.” There is no future in oil.

Cougar Dome, LLC

HOUSTON WAS NOT A NICE PLACE TO BE

Cougar Dome, LLC

SHALE BASINS WORLDWIDE

Cougar Dome, LLC

N.A. SHALE BASINS

Cougar Dome, LLC

JUST DRILL DEEPER

Cougar Dome, LLC

HOW DO WE GO GET THOSE HYDROCARBONS?

Cougar Dome, LLC

DIRECTIONAL DRILLING BOTTOMHOLE ASSEMBLY

Cougar Dome, LLC

HYDRAULIC FRACTURING OF WELL

Cougar Dome, LLC

GETTING BETTER AT IT

Cougar Dome, LLC

SO, WHAT DOES ALL THIS MEAN?

Oct-1995 Jul-1998 Apr-2001 Jan-2004 Oct-2006 Jul-2009 Apr-2012 Dec-20140

20000

40000

60000

80000

100000

120000

Data 1: U.S. Liquefied Natural Gas Imports (MMcf) N9103US2 U.S. Liquefied Natural Gas Imports (MMcf)

Data 1: U.S. Liquefied Natural Gas Imports (MMcf) N9103US2 U.S. Liquefied Natural Gas Imports (MMcf)

Cougar Dome, LLC

19 BILLION UP FRONT

Cougar Dome, LLC

ANDERS FOGH-RASMUS (NATO CHIEF)

Cougar Dome, LLC

WHY?

Cougar Dome, LLC

WHY?

Cougar Dome, LLC

RESULT

Cougar Dome, LLC

EUROPE

Cougar Dome, LLC

OBAMA TELLS EUROPE TO GO FRACK THEMSELVES

Cougar Dome, LLC

NOT SO EASY

Cougar Dome, LLC

PIPELINES RUN THE WRONG WAY-HAVE STARTED TO FIX THAT

Cougar Dome, LLC

RUSSIA/CHINA $400 BILLION DEAL

Cougar Dome, LLC

A GREAT DEAL OF WORK TO BE DONE

Cougar Dome, LLC

WHAT IT MEANS TO THE WORKING PEOPLE

Cougar Dome, LLC

TAKEN AT A WALMART IN NORTH DAKOTA

Cougar Dome, LLC

SUMMARY

• U. S. - ENERGY SECURITY - MORE GAS/FEWER WELLS - SPREADS AROUND THE WEALTH• EUROPE - THEY HAVE ABOUT 10 YEARS OF HARD WORK IN FRONT OF THEM