on behalf of

Accreditation No. 13658

0.038 %m Sulphur

11.8 K Factor

Santos Limited

Crude Assay Job Number 2014-PTAD-000139

08-January-2015

MUTINEER EXETER CRUDE OIL

43.1 °API

0.10 mgKOH/g TAN

Joshua Camens ________________ Lab. Supervisor Jhonas Fernandez Lab. Manager ________________ Intertek - Commodities Port Adelaide Laboratory Australia NATA accredited lab for ASTM D2892 Full accreditation details available at http://www.nata.com.au/index.php/scopeinfo/?key=13651

Report By:

Approved By:

Date:

Santos Limited

60 Flinders Street

Adelaide SA 5001

Australia

For the Attention of : Cathy Frost

Sample(s) received from : Santos Limited

Sample(s) submitted as : Mutineer Exeter Crude Oil

2 x 20 L epoxy lined cans

5 x 20 mL VOA vials

2 x 1 L glass bottle

Sample description : Mutineer Exeter Crude oil dated 21-11-14

ex FPSO Modec, Venture 11

Seals on Sample(s) : Sealed: 0066772,0066762,0066795,0066770

Crude Assay Job Number 2014-PTAD-000139

January 8, 2015

2014-PTAD-000139

Page No.

Sample Details

1

2

3

4

5

Graph of Cumulative % Middle Volume vs API Gravity 6

7

8

9

10

11

appendix i

appendix iiDetailed Hydrocarbon Analysis, Full Report (70-140°C)

Component List. Total by group type & Carbon number.

Front End Overview

TABLE OF CONTENTS

Report ID:

Description

MUTINEER EXETER CRUDE OIL

Assay Slate Summary

Properties of Naphtha

Detailed Hydrocarbon Analysis, Full report (C5-70°C)

Component List. Total by group type & Carbon number.

Properties of Kerosene

Properties of Whole Crude Oil

Properties of Gas Oil

Properties of Residue

Distillation Overview

Graph of True Boiling Point vs Simulated Distillation

Graph of True Boiling Point (Cumulative % mass and % volume)

Report ID

Crude IDClient IDDate

Test Method Unit

mass% 0.1 4.0 22.9 26.2 32.7 14.1

vol% (note 1) 0.1 4.9 25.2 27.0 30.6 12.3

Density @15°C kg/L (note 6) 0.8098 0.5600 0.6556 0.7331 0.7879 0.8663 0.9297

Specific Gravity @60/60°F - 0.8102 0.5600 0.6558 0.7333 0.7883 0.8668 0.9303

API Gravity °API 43.1 121.2 84.3 61.5 48.0 31.7 20.6

Rapid Yield SIMDIS ASTM D7169+LE °C See page 3

Aromatics - FIA ASTM D1319 %volume 7.5

Aniline Point ASTM D611 °C 61.15

Aniline Gravity Product ASTM D611, Calc - 6819

Arsenic (Note 3) ICP-MS wt ppb <10

Lead (Note 3) ICP-MS wt ppb <10

Ash Content ASTM D482 %mass 0.012

Asphaltenes IP143 %mass 1.3

Carbon Residue - Micro ASTM D4530 %mass 5.9

Characterisation Factor UOP375 - 11.8

Colour Saybolt ASTM D6045 - +30

Copper Strip Corrosion ASTM D130 - 1A 1A 1A

Cetane Index ASTM D4737(proc. A) - 47.0

Cloud Point ASTM D2500 °C -13

Colour - ASTM ASTM D6045 - <0.5

DHA ASTM D6730 %volume/%mass See appendix i See appendix ii

Distillation ASTM D86 °C See page 10

Freeze Point ASTM D2386 °C -58.5

Kinematic viscosity @ -20°C 3.130

Kinematic viscosity @ 20°C 2.199 1.435 6.317

Kinematic viscosity @ 40°C 1.574 1.084 3.761

Kinematic viscosity @ 50°C 1.384 3.045 66.80

Metal - Nickel <1 1

Metal - Copper <1 <1

Metal - Iron <1 1

Metal - Sodium <1 3

Metal - Vanadium <1 <1

Metal - Mercury (Note 3) UOP938 wt ppb <1

Naphthalenes ASTM D1840 %volume 0.14

Nitrogen - Basic UOP269 wt ppm 355

Nitrogen - Total ASTM D4629 wt ppm 107 787

RON (Note 4) DHA Calc - 68.3 55.1

Pour Point - Upper ASTM D5853 °C <-36

Pour Point ASTM D97 °C -12 +33

Reid Vapour Pressure (Note 5) ASTM D323 psi 2.61

Salt Content ASTM D3230 PTB <1

Sediment by Extraction ASTM D473 %mass 0.04

Smoke Point ASTM D1322 mm 29.5

Sulphur - Mercaptan UOP163 wt ppm 2 1 <1 1

Sulphur - Total ASTM D5453 wt ppm 6.8 <1.0 17 273

Sulphur - Total IP 336 %mass 0.038 0.17

Total Acid Number ASTM D664 mg KOH/g 0.10 <0.10 0.46

Water by Distillation ASTM D4006 %volume 0.00

Wax Content UOP46 %mass <5.0 18.2

NOTES:(1) Volumes are expressed as per ASTM D2892 which stipulates volumetric expansion normalisation among fractions boiling below 150°C in proportion to their yields.

(2) Aniline point not possible on the residue as sample matrix outside of instrument's scope.

(3) Arsenic, Lead and Mercury values were determined on separate acid washed VOA vial samples supplied by the client.

(4) Calculated DHA properties are indicative only and are not meant to replace values derived by relevant physical testing methods.

(5) RVP was tested on a separate 1L bottle sample supplied by client.

(6) LPG density is estimated and for indicative purpose only. Unable to perform actual analysis due to insuficient amount of fraction.

ICPES wt ppm

ASTM D445 cSt

(note 2)

ASTM D5002/ASTM

D4052/ IP 365

Ga

s O

il 2

30

-36

0C

Re

sid

ue

36

0C

+

Santos Limited08-January-2015

LP

G

Na

pth

a C

5-7

0C

ASSAY SLATE SUMMARY

Wh

ole

Cru

de

Fractional Distillation ASTM D2892

2014-PTAD-000139

MUTINEER EXETER CRUDE OIL

Cut Range

Na

pth

a 7

0-1

40

C

Ke

ros

en

e 1

40

-23

0C

Santos Mutineer Exeter Crude oil 2014-PTAD-000139 - Final Report.xls Page 1 of 11

Report ID

Crude ID

Client ID

Date

Test Method Unit

Simulated Distillation ASTM D7169 + LE - See page 3

Density @15°C kg/L 0.8098

Specific Gravity @60/60°F - 0.8102

API Gravity °API 43.1

Arsenic (Note 3) ICP-MS wt ppb <10

Lead (Note 3) ICP-MS wt ppb <10

Characterisation Factor UOP375 - 11.8

Kinematic viscosity @20°C 2.199

Kinematic viscosity @40°C 1.574

Kinematic viscosity @50°C 1.384

Metal - Nickel <1

Metal - Copper <1

Metal - Iron <1

Metal - Sodium <1

Metal - Vanadium <1

Metal - Mercury (Note 3) UOP938 wt ppb <1

Nitrogen - Total ASTM D4629 wt ppm 107

Pour Point - Upper ASTM D5853 °C <-36

Reid Vapour Presure (Note 5) ASTM D323 psi 2.61

Salt Content ASTM D3230 PTB <1

Sediment by Extraction ASTM D473 %mass 0.04

Sulphur - Mercaptan UOP163 wt ppm 2

Sulphur - Total IP336 %mass 0.038

Total Acid Number ASTM D664 mg KOH/g 0.10

Water by Distillation ASTM D4006 %volume 0.00

Wax Content UOP46 %mass <5.0

NOTES:(3) Arsenic, Lead and Mercury values were determined on separate

acid washed VOA vial samples supplied by the client.

(5) RVP was tested on a separate 1L bottle sample supplied by client.

Wh

ole

ASTM D5002

ASTM D445 cSt

ICPES wt ppm

Properties of Crude Oil

08-January-2015

2014-PTAD-000139

MUTINEER EXETER CRUDE OIL

Santos Limited

Santos Mutineer Exeter Crude oil 2014-PTAD-000139 - Final Report.xls Page 2 of 11

Crude Name:

Report ID:

Sample Number: 2014-PTAD-0001390-001

Temp C % mass

Cumulative %

mass

Density

(kg/L) SG 60/60F

API

Gravity %volume

Cum. %

volume Mid %vol

Cum. Mid.

%vol

15.0 0.1 0.1 0.5600 0.5600 121.2 0.1 0.1 0.1 0.1

70.0 4.0 4.1 0.6556 0.6558 84.3 4.9 5.0 2.5 2.5

110.0 11.6 15.7 0.7218 0.7220 64.5 13.0 17.9 9.0 11.4

140.0 11.3 27.0 0.7449 0.7453 58.4 12.2 30.2 15.1 24.0

170.0 9.7 36.7 0.7645 0.7649 53.5 10.3 40.5 20.2 35.3

200.0 8.3 45.0 0.7880 0.7884 48.0 8.5 49.0 24.5 44.7

230.0 8.2 53.2 0.8166 0.8171 41.7 8.2 57.1 28.6 53.1

250.0 6.0 59.2 0.8374 0.8379 37.4 5.8 62.9 31.5 60.0

280.0 8.7 67.9 0.8594 0.8599 33.1 8.2 71.2 35.6 67.0

310.0 6.7 74.6 0.8759 0.8764 30.0 6.2 77.4 38.7 74.3

330.0 5.9 80.5 0.8788 0.8793 29.4 5.4 82.8 41.4 80.1

360.0 5.4 85.9 0.8861 0.8866 28.1 4.9 87.7 43.9 85.3

360+ 14.1 100.0 0.9297 0.9303 20.6 12.3 100.0 50.0 93.9

SIMDIS DATAtemp C mass% temp C mass% temp C mass%

27.8 0.5 164.8 34 277.1 68

36.1 1 168.0 35 281.6 69

60.3 2 170.7 36 285.5 70

63.3 3 173.1 37 287.7 71

68.7 4 178.4 38 292.9 72

71.8 5 181.9 39 297.6 73

80.7 6 185.5 40 301.2 74

89.8 7 188.8 41 304.3 75

91.8 8 192.5 42 309.5 76

91.9 9 194.4 43 313.6 77

98.4 10 198.2 44 316.5 78

98.4 11 202.3 45 322.9 79

100.9 12 206.4 46 328.7 80

100.9 13 209.8 47 332.8 81

100.9 14 213.1 48 340.3 82

100.9 15 214.6 49 345.2 83

104.9 16 218.1 50 352.7 84

117.5 17 221.7 51 358.1 85

117.5 18 225.6 52 366.9 86

117.6 19 228.7 53 373.7 87

118.5 20 231.9 54 381.4 88

121.2 21 233.5 55 391.5 89

125.7 22 236.5 56 402.2 90

125.7 23 240.3 57 413.1 91

125.7 24 243.8 58 424.6 92

132.9 25 247.0 59 439.1 93

135.2 26 250.1 60 457.0 94

144.0 27 252.3 61 486.1 95

144.9 28 255.0 62 538.4 96

148.0 29 259.3 63 650.7 97

150.8 30 263.4 64 719.9 97.4

156.4 31 266.7 65

159.5 32 269.5 66

161.9 33 272.0 67

DISTILLATION OVERVIEW

(6) LPG density is estimated and for indicative purpose only. Unable to perform actual analysis due to insuficient amount of fraction.

MUTINEER EXETER CRUDE OIL

ASTM D2892

TBP DATA

Volumes are expressed as per ASTM D2892 which stipulates volumetric expansion normalisation among fractions boiling below

150°C in proportion to their yields.

MUTINEER EXETER CRUDE OIL

2014-PTAD-000139

Santos Mutineer Exeter Crude oil 2014-PTAD-000139 - Final Report.xls Page 3 of 11

Front End Overview

REPORT ID:

ASSET ID:

Boiling Range °C

mass%

vol %

Density @15°C (Note 6) kg/L 0.5600

Specific Gravity @60/60°F - 0.5600

API Gravity °API 121.2

Boiling Range °C

mass%

vol %

Density @15°C kg/L 0.6556

Specific Gravity @60/60°F - 0.6558

API Gravity °API 84.3

Summary mass% vol%

n-Paraffins 46.290 47.356

Iso-Paraffins 44.826 45.032

Naphthenes 8.884 7.612

Aromatics <0.010 <0.010

Olefins <0.010 <0.010

Unidentified <0.010 <0.010

DHA CALCULATED PROPERTIES**Average Molecular Weight :

Relative Density:

Octane Number:

Boiling Range °C

mass%

vol %

Density @15°C kg/L 0.7331

Specific Gravity @60/60°F - 0.7333

API Gravity °API 61.5

Summary mass% vol%

n-Paraffins 25.645 27.043

Iso-Paraffins 29.177 30.285

Naphthenes 44.897 42.437

Aromatics 0.282 0.236

Olefins <0.010 <0.010

Unidentified <0.010 <0.010

DHA CALCULATED PROPERTIES**Average Molecular Weight :

Relative Density:

Octane Number:

**Calculated DHA properties are indicative only and are not

meant to replace values derived by relevant physical testing methods

(6) LPG density is estimated and for indicative purpose only.

Unable to perform actual analysis due to insuficient amount of fraction.

105.0

Yield 0.1

0.1

4.0

ISO8973

C5-70C

Yield

D4052

55.1

Yield 22.9

25.2

0.7259

MUTINEER EXETER CRUDE OIL

2014-PTAD-000139

70-140C

D4052

68.3

0.6494

79.3

4.9

LPG (C1-C5)

Santos Mutineer Exeter Crude oil 2014-PTAD-000139 - Final Report.xls Page 4 of 11

Santos Mutineer Exeter Crude oil 2014-PTAD-000139 - Final Report.xls Page 5 of 11

0.0

20.0

40.0

60.0

80.0

100.0

120.0

140.0

160.0

180.0

200.0

220.0

240.0

260.0

280.0

300.0

320.0

340.0

360.0

380.0

0.0 10.0 20.0 30.0 40.0 50.0 60.0 70.0 80.0 90.0 100.0

Te

mp

era

ture

, oC

Cumulative % Recovered

TRUE BOILING POINT CURVE MUTINEER EXETER CRUDE OIL

2014-PTAD-000139 NOVEMBER 2014

Vol%-TBP

Mass%-TBP

Santos Mutineer Exeter Crude oil 2014-PTAD-000139 - Final Report.xls Page 6 of 11

10.0

20.0

30.0

40.0

50.0

60.0

70.0

80.0

90.0

100.0

110.0

120.0

0.0 10.0 20.0 30.0 40.0 50.0 60.0 70.0 80.0 90.0 100.0

AP

I G

ravit

y

Cumulative Middle % Volume

Graph of API vs Mid Volume

MUTINEER EXETER CRUDE OIL 2014-PTAD-000139 NOVEMBER 2014

Santos Mutineer Exeter Crude oil 2014-PTAD-000139 - Final Report.xls Page 7 of 11

0

20

40

60

80

100

120

140

160

180

200

220

240

260

280

300

320

340

360

380

400

420

440

460

480

500

520

540

560

580

600

620

640

660

680

700

720

740

760

0 10 20 30 40 50 60 70 80 90 100

Tem

pe

ratu

re, o

C

Cumulative % Recovered

Graph of True Boiling Point vs Simdis

MUTINEER EXETER CRUDE OIL 2014-PTAD-000139 NOVEMBER 2014

mass%-TBP

mass%-HT Simdis

Report ID

Crude ID

Client ID

Date

Test Method Unit

mass% 4.0 22.9

vol% (Note 1) 4.9 25.2

Density @15°C kg/L 0.6556 0.7331

Specific Gravity @60/60°F - 0.6558 0.7333

API Gravity °API 84.3 61.5

Copper Strip Corrosion, 3H @ 50°C ASTM D130 - 1A

RON (Note 4) Calc - 68.3 55.1

Sulphur - Mercaptan UOP 163 wt ppm 1 <1

Sulphur - Total ASTM D5453 wt ppm 6.8 <1.0

NOTES:

(1) Volumes are expressed as per ASTM D2892 which stipulates volumetric expansion

normalisation among fractions boiling below 150°C in proportion to their yields.

(4) Calculated DHA properties are indicative only and are not meant to replace

values derived by relevant physical testing methods.

ASTM D4052

2014-PTAD-000139

MUTINEER EXETER CRUDE OIL

Santos Limited

08-January-2015

Properties of Naphtha

Fractional Distillation ASTM D2892

70

-14

0C

C5

-70

C

NAPHTHA

Santos Mutineer Exeter Crude oil 2014-PTAD-000139 - Final Report.xls Page 8 of 11

Report ID

Crude ID

Client ID

Date

Test Method Unitmass% 26.2

vol% (Note 1) 27.0

Density @15°C kg/L 0.7879

Specific Gravity @60/60°F - 0.7883

API Gravity °API 48.0

Aromatics - FIA ASTM D1319 %volume 7.5

Aniline Point ASTM D611 °C 61.15

Aniline Gravity Product ASTM D611, Calc - 6819

Colour Saybolt ASTM D6045 - +30

Copper Strip Corrosion, 2H @ 100°C ASTM D130 - 1A

Freeze Point ASTM D2386 °C -58.5

Kinematic viscosity @ -20°C 3.130

Kinematic viscosity @ 20°C 1.435

Kinematic viscosity @ 40°C 1.084

Naphthalenes ASTM D1840 %volume 0.14

Smoke Point ASTM D1322 mm 29.5

Sulphur - Mercaptan UOP 163 wt ppm 1

Sulphur - Total ASTM D5453 wt ppm 17

Total Acid Number ASTM D664 mg KOH/g <0.10

Notes:

(1) Volumes are expressed as per ASTM D2892 which stipulates volumetric expansion

normalisation among fractions boiling below 150°C in proportion to their yields.

Properties of Kerosene

2014-PTAD-000139

MUTINEER EXETER CRUDE OIL

Santos Limited

Kerosene

cSt

14

0-2

30

C08-January-2015

Fractional Distillation ASTM D2892

ASTM D4052

ASTM D445

Santos Mutineer Exeter Crude oil 2014-PTAD-000139 - Final Report.xls Page 9 of 11

Report ID

Crude ID

Client ID

Date

Test Method Unitmass% 32.7

vol% (note 1) 30.6

Density @15°C kg/L 0.8663

Specific Gravity @60/60°F - 0.8668

API Gravity °API 31.7

Copper Strip Corrosion, 3H @ 50°C ASTM D130 - 1A

Cetane Index ASTM D4737(proc. A) - 47.0

Cloud Point ASTM D2500 °C -13

Colour - ASTM ASTM D6045 - <0.5

Kinematic viscosity @ 20°C 6.317

Kinematic viscosity @ 40°C 3.761

Kinematic viscosity @ 50°C 3.045

Pour Point ASTM D97 °C -12

Sulphur - Total ASTM D5453 wt ppm 273

Notes:

(1) Volumes are expressed as per ASTM D2892 which stipulates volumetric expansion

normalisation among fractions boiling below 150°C in proportion to their yields.

Test - LV% Method Unit 230-360C

Distillation - IBP 249.5

Distillation - 5% 258.6

Distillation - 10% 261.0

Distillation - 20% 264.9

Distillation - 30% 269.1

Distillation - 40% 274.1

Distillation - 50% 280.4

Distillation - 60% 287.7

Distillation - 70% 296.8

Distillation - 80% 307.7

Distillation - 90% 320.4

Distillation - 95% 329.6

Distillation - FBP 333.7

Distillation - Recovery 98.2

Distillation - Residue 1.4

Distillation - Loss 0.4

Fractional Distillation ASTM D2892

MUTINEER EXETER CRUDE OIL

Santos Limited

08-January-2015

Properties of Gas Oil

Gas Oil

230 -

360C

ASTM D86

°C

%volume

ASTM D445 cSt

ASTM D4052

2014-PTAD-000139

Santos Mutineer Exeter Crude oil 2014-PTAD-000139 - Final Report.xls Page 10 of 11

Report ID

Crude IDClient IDDate

Test Method Unitmass% 14.1

vol% (note 1) 12.3

Density @15°C kg/L 0.9297

Specific Gravity @60/60°F - 0.9303

API Gravity °API 20.6

Aniline Point ASTM D611 °C

Aniline Gravity Product ASTM D611, Calc -

Ash ASTM D482 %mass 0.012

Asphaltenes IP143 %mass 1.3

Carbon Residue - Micro ASTM D4530 %mass 5.9

Kinematic Viscosity @ 50°C ASTM D445 cSt 66.80

Metal - Nickel 1

Metal - Copper <1

Metal - Iron 1

Metal - Sodium 3

Metal - Vanadium <1

Nitrogen - Basic UOP269 wt ppm 355

Nitrogen - Total ASTM D4629 wt ppm 787

Pour Point ASTM D97 °C +33

Sulphur - Total IP336 %mass 0.17

Total Acid Number ASTM D664 mg KOH/g 0.46

Wax Content UOP46 %mass 18.2

NOTES:

(1) Volumes are expressed as per ASTM D2892 which stipulates volumetric expansion

normalisation among fractions boiling below 150°C in proportion to their yields.

(2) Aniline point not possible on residue as sample matrix outside of instrument's scope.

Properties of Residue

2014-PTAD-000139

MUTINEER EXETER CRUDE OIL

Santos Limited

Residue

ICPES wt ppm

36

0C

+

Note 2

Fractional Distillation ASTM D2892

IP 365

08-January-2015

Santos Mutineer Exeter Crude oil 2014-PTAD-000139 - Final Report.xls Page 11 of 11

Detailed Hydrocarbon Analysis

CRUDE ID:

REPORT ID:

Boiling Range °C

mass%

vol %

Component mass% vol%

ethane 0.076 0.146

propane 1.018 1.320

n-butane 3.297 3.699

2,2-dimethylpropane 0.219 0.241

i-pentane 12.854 13.471

n-pentane 17.862 18.522

2,2-dimethylbutane 1.491 1.491

cyclopentane 0.351 0.306

2,3-dimethylbutane 2.769 2.717

2-methylpentane 16.485 16.391

3-methylpentane 9.093 8.889

n-hexane 23.978 23.613

2,2-dimethylpentane 0.409 0.394

methylcyclopentane 5.283 4.582

2,4-dimethylpentane 0.597 0.576

2,2,3-trimethylbutane 0.096 0.091

3,3-dimethylpentane 0.066 0.062

cyclohexane 2.814 2.347

2-methylhexane 0.394 0.377

2,3-dimethylpentane 0.122 0.114

1,1-dimethylcyclopentane 0.097 0.084

3-methylhexane 0.231 0.218

1c,3-dimethylcyclopentane 0.109 0.095

1t,3-dimethylcyclopentane 0.075 0.065

1t,2-dimethylcyclopentane 0.109 0.095

n-heptane 0.060 0.057

methylcyclohexane 0.046 0.039

MUTINEER EXETER CRUDE OIL

2014-PTAD-000139

C5-70C4.0

Yield4.9

Santos Mutineer Exeter Crude oil 2014-PTAD-000139 - Final Report.xls appendix i

CRUDE ID:

REPORT ID:

Boiling Range °C

mass%

vol %

Class Summary mass% vol%

n-Paraffins 46.290 47.356

Iso-Paraffins 44.826 45.032

Naphthenes 8.884 7.612

Aromatics <0.010 <0.010

Olefins <0.010 <0.010

Unidentified <0.010 <0.010

DHA CALCULATED PROPERTIES**

Average Molecular Weight :

Relative Density:

Octane Number:

**Calculated DHA properties are indicative only and are not meant to replace values derived by

relevant physical testing methods

C5-70C

68.3

Yield

79.3

0.6494

2014-PTAD-000139

4.0

4.9

MUTINEER EXETER CRUDE OIL

Santos Mutineer Exeter Crude oil 2014-PTAD-000139 - Final Report.xls appendix i

Detailed Hydrocarbon Analysis (continued)

Boiling Range C5-70C

CRUDE ID: Yield, mass% 4.0

REPORT ID: Yield, vol % 4.9

Totals by Group Type & Carbon Number (in Mass Percent)

n-Paraffins: I-paraffins: Olefins: Naphthenes: Aromatics: Total:

C1:

C2: 0.076 0.000 0.000 0.000 0.000 0.076

C3: 1.018 0.000 0.000 0.000 0.000 1.018

C4: 3.297 0.000 0.000 0.000 0.000 3.297

C5: 17.862 13.073 0.000 0.351 0.000 31.285

C6: 23.978 29.838 0.000 8.097 0.000 61.913

C7: 0.060 1.915 0.000 0.437 0.000 2.411

C8:

C9:

C10:

C11:

C12:

Total : 46.290 44.826 0.000 8.884 0.000 100.000

Oxygenates: Total Heavies: Total Unknowns: Grand Total:

0.000 0.000 0.000 100.000

Totals by Group Type & Carbon Number (in Volume Percent)

n-Paraffins: I-paraffins: Olefins: Naphthenes: Aromatics: Total:

C1:

C2: 0.146 0.000 0.000 0.000 0.000 0.146

C3: 1.320 0.000 0.000 0.000 0.000 1.320

C4: 3.698 0.000 0.000 0.000 0.000 3.698

C5: 18.522 13.712 0.000 0.306 0.000 32.539

C6: 23.613 29.488 0.000 6.930 0.000 60.031

C7: 0.057 1.832 0.000 0.377 0.000 2.266

C8:

C9:

C10:

C11:

C12:

Total : 47.356 45.032 0.000 7.612 0.000 100.000

Oxygenates: Total Heavies: Total Unknowns: Grand Total:

0.000 0.000 0.000 100.000

2014-PTAD-000139

MUTINEER EXETER CRUDE OIL

Santos Mutineer Exeter Crude oil 2014-PTAD-000139 - Final Report.xls appendix i

Detailed Hydrocarbon Analysis

CRUDE ID:

REPORT ID:

Boiling Range °C

mass%

vol %

Component mass% vol%

i-pentane 0.089 0.104

n-pentane 0.206 0.239

2,2-dimethylbutane 0.048 0.054

2,3-dimethylbutane 0.163 0.178

2-methylpentane 1.059 1.177

3-methylpentane 0.795 0.869

n-hexane 3.448 3.796

2,2-dimethylpentane 0.251 0.270

methylcyclopentane 1.257 1.219

2,4-dimethylpentane 0.467 0.504

2,2,3-trimethylbutane 0.085 0.089

3,3-dimethylpentane 0.182 0.190

cyclohexane 2.380 2.219

2-methylhexane 3.458 3.699

2,3-dimethylpentane 0.946 0.988

1,1-dimethylcyclopentane 0.453 0.436

3-methylhexane 3.570 3.772

1c,3-dimethylcyclopentane 1.220 1.189

1t,3-dimethylcyclopentane 1.125 1.091

3-ethylpentane 0.257 0.267

1t,2-dimethylcyclopentane 1.761 1.701

n-heptane 10.672 11.330

methylcyclohexane 17.840 16.831

1,1,3-trimethylcyclopentane 0.805 0.781

ethylcyclopentane 0.907 0.859

2,5-dimethylhexane 0.562 0.589

2,4-dimethylhexane 0.665 0.689

1c,2t,4-trimethylcyclopentane 0.766 0.728

3,3-dimethylhexane 0.206 0.211

1t,2c,3-trimethylcyclopentane 0.630 0.593

2,3,4-trimethylpentane 0.042 0.043

2,3,3-trimethylpentane 0.048 0.048

toluene 0.053 0.045

2,3-dimethylhexane 0.669 0.682

2-methyl-3-ethylpentane 0.117 0.120

2-methylheptane 3.191 3.319

Yield22.9

25.2

MUTINEER EXETER CRUDE OIL

2014-PTAD-000139

70 - 140C

Santos Mutineer Exeter Crude oil 2014-PTAD-000139 - Final Report.xls appendix ii

Detailed Hydrocarbon Analysis (continued)

CRUDE ID:

REPORT ID:

Boiling Range °C

mass%

vol %

Component mass% vol%

4-methylheptane 1.270 1.308

3,4-dimethylhexane 0.133 0.134

1c,2c,4-trimethylcyclopentane 0.051 0.048

1c,3-dimethylcyclohexane 0.049 0.047

3-methylheptane 2.516 2.587

1c,2t,3-trimethylcyclopentane 6.525 6.148

3-ethylhexane 2.593 2.638

1,1-dimethylcyclohexane 0.700 0.651

2,2,5-trimethylhexane 0.057 0.058

3c-ethylmethylcyclopentane 0.362 0.343

3t-ethylmethylcyclopentane 0.323 0.306

2t-ethylmethylcyclopentane 0.574 0.542

1,1-methylethylcyclopentane 0.098 0.091

2,2,4-trimethylhexane 2.384 2.341

n-octane 10.486 10.836

2,4,4-trimethylhexane 0.139 0.136

N1 0.137 0.127

1c,2-dimethylcyclohexane 0.357 0.326

2,3,5-trimethylhexane 0.334 0.336

1,1,4-trimethylcyclohexane 4.142 3.894

2,4-dimethylheptane 0.491 0.498

ethylcyclohexane 0.510 0.472

*1c,3c,5-trimethylcyclohexane 0.162 0.153

3,3-dimethylheptane 0.531 0.531

3,5-dimethylheptane 0.199 0.200

1,1,3-trimethylcyclohexane 0.110 0.101

ethylbenzene 0.090 0.075

Ethybenzene 2 0.036 0.030

1c,2t,4t-trimethylcyclohexane 0.368 0.342

I3 0.112 0.111

1,3-dimethylbenzene 0.103 0.086

3,4-dimethylheptane* 0.301 0.299

N14 0.159 0.148

4-ethylheptane 0.085 0.086

1c,2t,3-trimethylcyclohexane 0.482 0.462

3-ethylheptane 0.588 0.588

Yield22.9

25.2

MUTINEER EXETER CRUDE OIL

2014-PTAD-000139

70 - 140C

Santos Mutineer Exeter Crude oil 2014-PTAD-000139 - Final Report.xls appendix ii

Detailed Hydrocarbon Analysis (continued)

CRUDE ID:

REPORT ID:

Boiling Range °C

mass%

vol %

Component mass% vol%

1c,2t,4c-trimethylcyclohexane 0.122 0.114

1,1,2-trimethylcyclohexane 0.524 0.475

I8 0.396 0.394

I9 0.132 0.131

n-nonane 0.833 0.843

2,6-dimethyloctane 0.050 0.050

Boiling Range °C

mass%

vol %

Class Summary mass% vol%

n-Paraffins 25.645 27.043

Iso-Paraffins 29.177 30.285

Naphthenes 44.897 42.437

Aromatics 0.282 0.236

Olefins <0.010 <0.010

Unidentified <0.010 <0.010

DHA CALCULATED PROPERTIES**

Average Molecular Weight :

Relative Density:

Octane Number:

70 - 140C

**Calculated DHA properties are indicative only and are not meant to replace values derived by

relevant physical testing methods

Yield22.9

25.2

105.0

0.7259

70 - 140CYield

22.9

25.2

55.1

MUTINEER EXETER CRUDE OIL

2014-PTAD-000139

Santos Mutineer Exeter Crude oil 2014-PTAD-000139 - Final Report.xls appendix ii

Boiling Range 70 - 140C

CRUDE ID: Yield, mass% 22.9

REPORT ID: Yield, vol % 25.2

Totals by Group Type & Carbon Number (in Mass Percent)

n-Paraffins: I-paraffins: Olefins: Naphthenes: Aromatics: Total:

C1:

C2:

C3:

C4:

C5: 0.206 0.089 0.000 0.000 0.000 0.295

C6: 3.448 2.064 0.000 3.637 0.000 9.149

C7: 10.671 9.215 0.000 23.306 0.053 43.246

C8: 10.486 12.012 0.000 11.886 0.228 34.613

C9: 0.833 5.747 0.000 6.068 0.000 12.648

C10: 0.000 0.050 0.000 0.000 0.000 0.050

C11:

C12:

Total : 25.645 29.177 0.000 44.897 0.282 100.000

Oxygenates: Total Heavies: Total Unknowns: Grand Total:

0.000 0.000 0.000 100.000

Totals by Group Type & Carbon Number (in Volume Percent)

n-Paraffins: I-paraffins: Olefins: Naphthenes: Aromatics: Total:

C1:

C2:

C3:

C4:

C5: 0.239 0.104 0.000 0.000 0.000 0.343

C6: 3.796 2.277 0.000 3.438 0.000 9.511

C7: 11.330 9.779 0.000 22.107 0.045 43.261

C8: 10.836 12.367 0.000 11.203 0.191 34.596

C9: 0.843 5.708 0.000 5.689 0.000 12.240

C10: 0.000 0.049 0.000 0.000 0.000 0.049

C11:

C12:

Total : 27.043 30.285 0.000 42.437 0.236 100.000

Oxygenates: Total Heavies: Total Unknowns: Grand Total:

0.000 0.000 0.000 100.000

2014-PTAD-000139

MUTINEER EXETER CRUDE OIL

Santos Mutineer Exeter Crude oil 2014-PTAD-000139 - Final Report.xls appendix ii