Schedule 1 – Summary of Proved Oil Reserves Based on Average Prices for 2010 – 2013


	Total			Total – by product						United States			Canada						Malaysia			United Kingdom			Republic of the Congo
(Millions of barrels)	All Products			Oil			Synthetic Oil			Oil			Oil			Synthetic Oil			Oil			Oil			Oil
Proved developed and undeveloped oil reserves:
December 31, 2010		308.0			178.8			129.2			26.6			32.8			129.2			98.4			10.9			10.1
Revisions of previous estimates		21.2			16.0			5.2			2.4			3.1			5.2			8.4			8.1			(6.0	)
Improved recovery		14.2			14.2			0.0			0.0			0.0			0.0			10.7			3.5			0.0
Extensions and discoveries		43.9			43.9			0.0			32.6			6.7			0.0			4.6			0.0			0.0
Production		(37.6	)		(32.7	)		(4.9	)		(6.3	)		(6.0	)		(4.9	)		(17.7	)		(0.9	)		(1.8	)

December 31, 2011		349.7			220.2			129.5			55.3			36.6			129.5			104.4			21.6			2.3
Revisions of previous estimates		2.6			7.9			(5.3	)		13.0			(3.4	)		(5.3	)		(0.4	)		0.3			(1.6	)
Improved recovery		7.2			7.2			0.0			0.0			0.0			0.0			7.2			0.0			0.0
Extensions and discoveries		84.0			84.0			0.0			77.3			2.9			0.0			3.8			0.0			0.0
Purchases of properties		12.5			12.5			0.0			6.5			6.0			0.0			0.0			0.0			0.0
Production		(41.2	)		(36.1	)		(5.1	)		(9.5	)		(5.3	)		(5.1	)		(19.3	)		(1.3	)		(0.7	)

December 31, 2012		414.8			295.7			119.1			142.6			36.8			119.1			95.7			20.6			0.0
Revisions of previous estimates		43.1			40.5			2.6			28.7			8.4			2.6			3.4			0.0			0.0
Improved recovery		27.4			27.4			0.0			0.0			0.0			0.0			27.4			0.0			0.0
Extensions and discoveries		79.6			79.6			0.0			61.1			0.3			0.0			18.2			0.0			0.0
Sales of properties		(20.4	)		(20.4	)		0.0			0.0			0.0			0.0			0.0			(20.4	)		0.0
Production		(48.9	)		(44.2	)		(4.7	)		(17.7	)		(6.7	)		(4.7	)		(19.6	)		(0.2	)		(0.0	)

December 31, 2013		495.6			378.6			117.0			214.7			38.8			117.0			125.1			0.0			0.0

Proved developed oil reserves:
December 31, 2010		248.3			129.2			119.1			15.8			28.6			119.1			66.5			10.9			7.4
December 31, 2011		238.5			118.0			120.5			20.8			32.6			120.5			57.2			5.1			2.3
December 31, 2012		267.7			148.6			119.1			48.0			29.5			119.1			67.0			4.1			0.0
December 31, 2013		304.1			187.1			117.0			88.9			31.6			117.0			66.6			0.0			0.0

Proved undeveloped oil reserves:
December 31, 2010		59.7			49.6			10.1			10.8			4.2			10.1			31.9			0.0			2.7
December 31, 2011		111.2			102.2			9.0			34.5			4.0			9.0			47.2			16.5			0.0
December 31, 2012		147.1			147.1			0.0			94.6			7.3			0.0			28.7			16.5			0.0
December 31, 2013		191.5			191.5			0.0			125.8			7.2			0.0			58.5			0.0			0.0

Note:

All oil reserves included in the table above are from consolidated subsidiaries and proportionately consolidated joint ventures. The Company has no proved oil reserves attributable to investees accounted for by the equity method.

2013 Comments for Proved Oil Reserves Changes

Revisions of previous estimates – The positive revision for proved oil reserves in 2013 in the U.S. was attributable to better well performance in the Eagle Ford Shale area in South Texas, coupled with minor adds to several fields in the Gulf of Mexico. The positive revision for conventional oil in Canada was caused by well performance at the Hibernia and Terra Nova fields. Synthetic oil revisions were positive primarily due to revised cost recovery factors for bitumen extraction following renegotiated royalty terms with the government. Positive revisions in Malaysia were primarily attributable to well performance at Kikeh.

Improved recovery – The positive effect from improved recovery in Malaysia was at the Kikeh field where waterflood has led to better than anticipated response in certain reservoirs.

Extensions and discoveries – The U.S. proved oil reserve additions were all in the Eagle Ford Shale where the Company has used reliable technology to add offset locations associated with well downspacing in certain areas. Proved oil adds in Canada were associated with extensions at Seal. Additions to oil reserves in Malaysia primarily related to four new oil fields offshore Sarawak which were put on production during the second half of 2013.

Sales of properties – The Company sold all its oil fields in the U.K. during the first half of 2013.

2012 Comments for Proved Oil Reserves Changes

Revisions of previous estimates – A positive proved oil reserves revision in 2012 in the U.S. were due to improved well performance in the Eagle Ford Shale and at the Medusa field in the Gulf of Mexico. Downward revisions for conventional oil in Canada related to a lower recovery assessment for certain heavy oil wells in the Seal area. Negative proved oil revisions for synthetic oil in Canada related to an entitlement change based on recent spending projections that increased royalties estimated to be paid to the government. Negative proved oil revisions in Republic of the Congo arose due to a combination of poor well performance on existing wells, a well that went off production in 2012, and generally uneconomic remaining future production due to oil recovery projections.

Improved recovery – The improved recovery in 2012 in Malaysia was essentially caused by better waterflood response in certain Kikeh field reservoir sands.

Extensions and discoveries – The U.S. proved oil reserves added in 2012 were primarily in the Eagle Ford Shale and were based on use of reliable technology to recognize additional offset undeveloped locations with 80 acre downspacing in certain areas of the play. The oil reserves added in Canada mostly related to additional development drilling off the East Coast at Hibernia and Terra Nova. Malaysia reserves increases primarily arose due to development drilling at fields offshore Sarawak.

Purchases of properties – Proved oil reserves added from property acquisitions in 2012 were associated with interests added at the Front Runner and Thunder Hawk fields in the U.S. Gulf of Mexico and in the Seal heavy oil area of Western Canada.

2011 Comments for Proved Oil Reserves Changes

Revisions of previous estimates – Positive proved oil reserve revisions in the U.S. in 2011 were primarily associated with better production at the Medusa field in the Gulf of Mexico. Positive revisions for Canada conventional operations were mostly attributable to better well performance at the Hibernia field, offshore Eastern Canada. Synthetic oil operations had positive reserve revisions due to a change in royalty rate. Positive revisions in Malaysia were primarily at the Kikeh field caused by production performance. Positive revisions in the U.K. were associated with the Schiehallion field due to redevelopment by its owners. The negative revision in reserves in Republic of the Congo was attributable to poor production results for wells in the Azurite field.

Improved recovery – The improved recovery in Malaysia in 2011 was primarily at Kikeh due to improved waterflood response in certain reservoir sands. U.K. reserves were at Schiehallion due to additional wells that permit better waterflood recovery.

Extensions and discoveries – The U.S. and Canadian reserves in 2011 related to the Eagle Ford Shale area and the Seal heavy oil area, respectively, where extensive drilling occurred during the year and many undeveloped locations will be drilled in upcoming years. The majority of Malaysia reserves related to the Block K Siakap North field, which was sanctioned for development by the government and Company in 2011.