Energy Alert. Mexico s Energy Industry. Results of Ronda Uno, Third Tender. If you read only this

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1 Energ Alert December 16, 2015 Mexico s Energ Industr Results of Ronda Uno, Third Tender If ou read onl this On December 15, 2015, the Mexican Comisión Nacional de Hidrocarburos (CNH) completed the third stage of its so called Round One upstream oil and gas auctions. It is estimated that these contract areas conta an estimated 2.5 billion barrels of oil equivalent (boe) distributed multiple oil and gas fields. As a major shift from the first two tenders, the CNH used a license as the model contract to facilitate the entr of domestic participants and smaller IOCs. Overall, the results should be considered rather surprisg. Despite extremel low commodit prices and an ailg oil and gas dustr, almost 100 different companies expressed formal terest takg part the Third Tender and 71 companies (36 dividual companies and 16 consortiums) prequalified to present bids. On December 15, 2015, the Mexican Comisión Nacional de Hidrocarburos (CNH) completed the third stage of its so called Round One upstream oil and gas auctions. The Third Tender cluded 25 mature onshore contract areas distributed across four states, Chiapas, Nuevo Leon, Tabasco and Tamaulipas. It is estimated that these contract areas conta an estimated 2.5 billion barrels of oil equivalent (boe) distributed multiple oil and gas fields. The Mexican government divided the blocks to two tpes based on size and estimated remag recoverable hdrocarbons. The blocks were onshore, smallproducg and mature areas that were structured to centivize local companies and smaller companies to participate the new oil and gas exploration market. As a major shift from the first two tenders, the CNH used a license as the model contract to facilitate the entr of domestic participants and smaller IOCs. Licenses are less complicated, as the do not volve cost recover or sharg with the state like production-sharg agreements. Also, as it did durg the Second Tender, the Mexican government published its mimum requirements ahead of the bid deadle. Overall, the results should be considered rather surprisg. Despite extremel low commodit prices and an ailg oil and gas dustr, almost 100 different companies expressed formal terest takg part the Third Tender and 71 companies (36 dividual companies and 16 consortiums) prequalified to present 1

2 bids. Earl estimates had considered that awardg 20 percent of the blocks on offer would be a considered a success for Mexico. However, participants far exceeded these expectations and 100 percent of the available contract areas were awarded. The most active participants cluded which obtaed four contract areas northern Mexico, Renaissance Oil, which obtaed three contract areas southern Mexico and Strata Campos Maduros, which obtaed three contract areas. Overall, government officials expect almost $620 million revenues over the first five ears of these contracts. Not onl were all contract areas awarded, the bids far exceeded the mimum bids established b the government. Below is a list of all of the wng bidders from the Third Tender and their correspondg bids terms of a percentage roalt to the government and creases the stated mimum work programs: Results Contract Tajon (Tpe 2) Cuichapa- Pte (Tpe 2) Moloacan (Tpe 2) Barcodon (Tpe 2) Mundo Nuevo Compañía Petrolera Perseus, Servicios de Extracción Petrolera Liftg de México, S.A. Canamex Dutch B.V., Perfolat de México, S.A. & American Oil Tools S. de R.L. (Netherlands - México) Diavaz Offshore, Renaissance Oil Corp S.A. (Canada) Bid (%) , , , , ,

3 Paraíso Catedral Topen Maacaste Malva Pena Blanca Roma Energ Holdgs, LLC Tubular Technolog, & GX science Corporation, S. de R.L. de (US- México) Diavaz Offshore, Renaissance Oil Corp S.A. (Canada) Grupo Diarqco, S.A. Renaissance Oil Corp S.A. (Canada) Strata Campos Maduros, Sistemas Integrales de Compresión,, Nuvoil, S.A. & Constructora Marusa, S.A. Benavides- Primavera Bid (%) , , , , , , ,

4 Fortuna Nacional Ricos Mareógrafo Carretas Pontón Tecolutla Compañía Petrolera Perseus, Strata Campos Maduros, Consorcio Manufacturer o Mexicano, Strata Campos Maduros, Bid (%) , , , , , ,

5 Secadero Duna San Bernardo Calibrador La Jaja Calicanto Paso de Oro Grupo R & Constructora Arrendadora México, S.A. (Mexico) Construccion es Servicios Industriales Globales, Sarreal, S.A. Consorcio Manufacturer o Mexicano, Grupo Diarqco, S.A. Bid (%) , , , , , , ,

6 Bid (%) 6

7 Contact Information If ou have an questions regardg this alert, please contact. Steven P. Otillar Eduardo Canales