Kazakhstan

Kazakhstan has the second largest base of proved reserves in Europe amounting to some 40 billion barrels. Only the Russian reserves are larger. Kazakhstan holds most of the Caspian Sea's biggest known oil fields. The operations in Kazakhstan are conducted through the subsidiary Potential Oil. Potential Oil conducts exploration activities at the Begaidar block, located in the Atyrau region of Kazakhstan on the northern shore of the Caspian Sea. The Begaidar block covers an area of approximately 4,300 square kilometers.

Alliance Oil's proven, probable and possible reserves (3P) in Kazakhstan amount to 13.4 million barrels of oil based on D&M's estimates as of December 31, 2009.

Update Q1 2010

Total production in Kazakhstan for the first quarter 2010 was 129,243 barrels (117,137 barrels).