HispanicBusiness

Gross and Net Company Interest Reserves as at December 31, 2012

The following table summarizes the Company's gross and net interest reserve volumes utilizing McDaniel's forecast pricing and cost estimates at December 31, 2012.

--------------------------------------------------------------------------------------------------------------------------------------------------------                               Light and                               medium oil      Heavy oil       Natural Gas----------------------------------------------------------------------------                              Gross           Gross           Gross                               (1)  Net (2)    (1)  Net (2)    (1)  Net (2)Reserves category            (mbbl)  (mbbl)  (mbbl)  (mbbl)  (mmcf)   (mmcf)----------------------------------------------------------------------------CanadaProved Developed producing          2,720   2,314     187     181  63,125   53,164 Developed non-producing        714     588      34      31  11,839   10,190 Undeveloped                    902     752       -       -   1,541    1,356----------------------------------------------------------------------------Total proved                  4,337   3,654     221     212  76,505   64,710Probable additional           2,487   1,995      77      72  50,583   41,393----------------------------------------------------------------------------Total proved plus probable    6,824   5,649     298     284 127,088  106,103----------------------------------------------------------------------------TunisiaProved Developed producing          1,308   1,255       -       -   1,246    1,121 Developed non-producing        466     414       -       -   2,498    2,265 Undeveloped                  7,138   6,643       -       -   2,067    1,874----------------------------------------------------------------------------Total proved                  8,912   8,311       -       -   5,810    5,260Probable additional          10,212   9,290       -       -   2,116    1,904----------------------------------------------------------------------------Total proved plus probable   19,124  17,601       -       -   7,926    7,165----------------------------------------------------------------------------Total companyProved Developed producing          4,029   3,569     187     181  64,371   54,285 Developed non-producing      1,180   1,001      34      31  14,337   12,454 Undeveloped                  8,040   7,395       -       -   3,607    3,230----------------------------------------------------------------------------Total proved                 13,248  11,965     221     212  82,315   69,970Probable additional          12,700  11,285      77      72  52,699   43,297----------------------------------------------------------------------------Total proved plus probable   25,948  23,250     298     284 135,014  113,267----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------                               Natural gas liquids    Oil equivalent (6:1)----------------------------------------------------------------------------                                Gross(1)    Net (2)    Gross(1)     Net (2)Reserves category                 (mbbl)      (mbbl)      (mboe)      (mboe)----------------------------------------------------------------------------CanadaProved Developed producing               1,538       1,107      14,966      12,462 Developed non-producing             202         151       2,923       2,468 Undeveloped                          22          16       1,181         994----------------------------------------------------------------------------Total proved                       1,761       1,274      19,069      15,925Probable additional                1,143         825      12,138       9,791----------------------------------------------------------------------------Total proved plus probable         2,904       2,099      31,207      25,716----------------------------------------------------------------------------TunisiaProved Developed producing                   -           -       1,516       1,442 Developed non-producing               -           -         882         790 Undeveloped                           -           -       7,482       6,955----------------------------------------------------------------------------Total proved                           -           -       9,880       9,187Probable additional                    -           -      10,565       9,608----------------------------------------------------------------------------Total proved plus probable             -           -      20,445      18,795----------------------------------------------------------------------------Total companyProved Developed producing               1,538       1,107      16,482      13,904 Developed non-producing             202         151       3,805       3,259 Undeveloped                          22          16       8,663       7,949----------------------------------------------------------------------------Total proved                       1,761       1,274      28,949      25,112Probable additional                1,143         825      22,703      19,399----------------------------------------------------------------------------Total proved plus probable         2,904       2,099      51,652      44,511--------------------------------------------------------------------------------------------------------------------------------------------------------Notes:(1)   Gross reserves are the Company's working interest reserves before      royalty deductions and do not include royalty interest volumes.(2)   Net reserves are after royalty deductions and include royalty interest      volumes.(3)   Columns may not add due to rounding.