Production Licence Number

Licence holder (percentage share) operator

Licence Phase

Date Commenced

Date Expires

North Falkland Basin

PL 001

Argos Resources (100%)

Phase 2

(7 years)

25^th November 08

25^th November 2015

PL 003b Block 14/14 Ann prospect &

Block 14/19 Orca Prospect

Desire Petroleum (57.5%) Denholm Oil & Gas (35%) Rockhopper Exploration (7.5%)

Phase 2

(7 years)

1^st May 2006

1st May 2013

PL 003a

Desire Petroleum (92.5%) Rockhopper Exploration (7.5%)

PL 004b

(Area 1)

Area 1:

Rockhopper Exploration (60%)

Desire Petroleum (40%)

Phase 2

(7 years)

1^st May 2006

Moved to phase 2 six months after Governor agreed to assignment of licence to RKH, so according to file this was 1.5.2006

1^st of May 2013

PL004c

(Area 2)

Area 2

Desire Petroleum (75%)

Rockhopper Exploration (25%)

PL004a

Desire Petroleum 92.5%

Rockhopper Exploration 7.5%

Phase 2

(7 years)

25^th November 2006

25^th November 2013

Production Licence Number

Licence holder (percentage share) operator

Current

Licence Phase

Date Commenced Phase

Date Expires

PL 005

Desire Petroleum (100%)

Phase 2

(7 years)

25th November 2005

25^th November 2012

PL 006

Desire Petroleum (100% Except Alpha Prospect)

Alpha Prospect:

Desire Petroleum (50%)

Denholm Oil & Gas (50%)

(Denholm to meet 100% of costs)

Phase 2

(7 years)

25^th November 2005

25^th November 2012

PL 007

Desire Petroleum (100% Except Alpha Prospect)

Alpha Prospect:

Desire Petroleum (50%)

Denholm Oil & Gas (50%)

Phase 2

(7 years)

29 October 2005

29 October 2012

PL 023

Rockhopper Exploration (100%)

Phase 2

(initially 3 years, entry subject to a drilling commitment,  Phase 2 since extended to 5 years)

18^th Nov 2007

18^th Nov 2012

PL 024

Rockhopper Exploration (100%)

Production Licence Number

Licence holder (percentage share) operator

Licence Phase

Date Commenced

Date Expires

PL 032

Rockhopper Exploration (100%)

Discovery Area declared on Sea Lion Prospect

1^st May 2005

Discovery Area:

15/4/2010

1^st May 2013

Discovery Area:

15/04/2015

PL 033

Rockhopper Exploration (100%)

Phase 1

(initially 5 years,

extension to 8 years due to well commitment in phase 1)

1^st May 2005

1^st May 2013

PL 034

Denholm (80%) Desire (20%)

Phase 1

14^th August 2008

14^th August 2012

East and South Falkland Basins

Production Licence Number

Licence holder (percentage share) operator

Licence Phase

Date Commenced

Date Expires

PL 010

Falklands Oil and Gas Ltd (FOGL)

Phase 2

3^rd December 2010

3^rd December 2015

PL 011

PL 012

PL 013

PL 014

PL 015

PL 016

Production Licence Number

Licence holder (percentage share) operator

Licence Phase

Date Commenced

Date Expires

PL 025

FOGL

(100%)

Phase 1

Phase 1 extended until 15^th June 2012 in exchange for one well

PL 026

PL 027

PL 028

PL 029

PL 031

Production Licence Number

Licence holder (percentage share) operator

Licence Phase

Date Commenced

Date Expires

PL 018

PL 019

PL 020

PL 021

PL 022

Borders & Southern Petroleum (100%)

Phase 1

1^st Nov 2004

1^st November 2012