Crude Assay Report on Crude Oil sample marked Barrow Crude Oil On Behalf Of Chevron Australia Pty Ltd. Reported by: Approved by: Michelle Fernandez Laboratory Supervisor Jhonas Fernandez Crude Assay Chemist 2 Elder Road Largs North, South Australia, 5016 Australia Tel.:+61 8 8301 1950 Fax.:+61 8 7223 2089 Email: adelaidelab@intertek.com
Barrow Crude Oil ex-eagle Tacoma INDEX Sl. No. Description Page No. 1 Description of sample 1 2 Detailed Assay All Cuts Overview 2 3 Summary of Whole Crude Oil Characteristics 3 4 True Boiling Point Distillation Data 4 5 Rapid Yield Simdis - Whole Crude Oil 5 6 True Boiling Point Distillation - Curve 6 7 Rapid Yield Simdis / True Boiling Point Curve 7 8 Summary of Product / Residue Cut Points & Yield 8 9 Fraction Analysis 9-12 10 Residue Analysis 13 11 ASTM D 86 - Distillation data 14 12 Detailed Hydrocarbon Analysis 15-16
Date: July 14, 2017 Chevron Australia Pty Ltd. 250 St Georges Tce Perth WA 6831 Australia For the Attention of : Jody Rogers Sample(s) received from : Chevron Australia via Intertek-Perth Purchase Order No. (RFQ) : Not Supplied Sample(s) submitted as : Barrow Crude Oil Description(s) on Label(s) : Barrow Crude Oil ex-eagle Tacoma sampled on 29-May-2017 Seals on Sample(s) : None Sample(s) received on : June 8, 2017 The above sample(s) was/were examined as detailed below and the following results obtained: Please refer attached sheet for analytical results. Page 1
DETAILED ASSAY ALL CUTS OVERVIEW Barrow Crude Oil ex-eagle Tacoma TEST METHOD UNIT Whole Crude LPG Cut Range Initial BP C 15 70 140 230 360+ Final BP C 15 70 140 230 360 Distillation of Crude Oil Yield % Wt. 1.1 2.6 14.4 27.7 37.4 16.8 ASTM D 2892 Yield % Vol. 1.7 3.4 16.0 28.6 35.3 15.0 Density @ 15 C ASTM D 5002 / IP 365 / ASTM D4052 / ISO 8973 kg/l 0.8447 0.5629 0.6550 0.7465 0.8175 0.8911 0.9489 Specific Gravity @ 60/60 F Conversion 0.8451 0.5629 0.6551 0.7467 0.8179 0.8916 0.9494 API Gravity @ 60 F Calculated API 35.9 119.9 84.5 58.1 41.5 27.2 17.5 Rapid Yield Simdis ASTM D7900/D7169 C Page 5 Aniline Point ASTM D611, Proc E C 51.10 74.00 Aniline Gravity Product Calculated - 5145 2888 Aromatics - FIA ASTM D 1319 % Vol. 12.7 Arsenic Content (Note 1) ICP MS wt ppb 7 Ash Content ASTM D482 %mass 0.014 Asphaltenes IP 143 %mass <0.50 <0.50 Carbon Content 87.9 ASTM D5291 %mass Hydrogen Content 11.5 Carbon Residue - Micro ASTM D4530 %mass 0.28 1.73 Cetane Index ASTM D4737 A 38.0 UOP Characterization Factor UOP 375-11.48 11.22 11.96 Chloride, Organic UOP 588 wt ppm <1 Cloud Point ASTM D2500 C -38 Color, ASTM - 0.50 ASTM D6045 Color, Saybolt - +30 Copper Corrosion ASTM D130-1a 1a 1a 1a Detailed Hydrocarbon Analysis (DHA) ASTM D6730 Page 15 Page 16 Distillation ASTM D86 Page 14 Freeze Point ASTM D2386 C <-60.0 Gross Heat of Combustion ASTM D 240 MJ/kg 44.485 Kinematic Viscosity @ -20 C 3.550 Kinematic Viscosity @ 20 C 3.244 1.550 ASTM D 445 mm 2 /s Kinematic Viscosity @ 40 C 2.120 4.053 Kinematic Viscosity @ 50 C 1.774 138.9 Metals Lead <1 <1 Nickel <1 <1 Copper <1 <1 ASTM D5185 Mod mg/kg Iron <1 2.7 Sodium <1 1.3 Vanadium <1 7.9 Mercury (Note 1) UOP 938 ppb Wt <1 Naphthalene Content ASTM D 1840 Nitrogen - Basic UOP 269 Nitrogen - Total Octane Number- Research (RON) ASTM D5762 Calculated % Vol. mg/kg mg/kg Pour Point - Upper ASTM D5853 C <-36-0.45 94.2 520 229 1291 82.17 78.42 Pour Point ASTM D97 C <-36 9 Reid Vapour Pressure (Note 2) ASTM D323 kpa 28.50 Salt Content ASTM D3230 PTB 0.5 Sediment By Extraction ASTM D473 %mass 0.03 Smoke Point ASTM D1322 mm 23.5 Sulphur - Mercaptan UOP 163 wt ppm 2 0.4 0.1 4 Sulphur - Total ASTM D5453 mg/kg 83 13 103 Sulphur - Total IP 336 %mass 0.044 0.047 0.160 Total Acid Number ASTM D 664 mg KOH/g 0.10 <0.10 0.10 0.30 Water by Distillation ASTM D4006 % Vol. 0 Wax Content UOP 46 %mass <5.0 <5.0 Notes: 1) Arsenic and Mercury were tested on a sample contained in a VOA vial. 2) RVP was tested on a sample from a separate 1L bottle. Page 2
WHOLE CRUDE OIL PROPERTIES Sample Descriptions / Label : Barrow Crude Oil ex-eagle Tacoma Density @ 15 C ASTM D 5002 kg/l 0.8447 Specific Gravity @ 60/60 F Conversion 0.8451 API Gravity @ 60 F Calculated API 35.9 Rapid Yield Simdis ASTM D7900/D7169 C Page 5 Arsenic Content (Note 1) ICP MS wt ppb 7 Asphaltenes IP 143 %mass <0.50 Carbon Residue - Micro ASTM D4530 %mass 0.28 UOP Characterization Factor UOP 375-11.48 Chloride, Organic UOP 588 wt ppm <1 Gross Heat of Combustion ASTM D 240 MJ/kg 44.485 Kinematic Viscosity @ 20 C 3.244 Kinematic Viscosity @ 40 C ASTM D 445 mm2/s 2.120 Kinematic Viscosity @ 50 C 1.774 Metals TEST METHOD UNIT RESULT Lead <1 Nickel <1 Copper ASTM D5185 Mod mg/kg <1 Iron <1 Sodium <1 Vanadium <1 Mercury (Note 1) UOP 938 ppb Wt <1 Nitrogen - Basic UOP 269 mg/kg 94.2 Nitrogen - Total ASTM D5762 mg/kg 229 Pour Point - Upper ASTM D5853 C <-36 Reid Vapour Pressure (Note 2) ASTM D323 kpa 28.50 Salt Content ASTM D3230 PTB 0.5 Sediment By Extraction ASTM D473 %mass 0.03 Sulphur - Mercaptan UOP 163 wt ppm 2 Sulphur - Total IP 336 %mass 0.044 Total Acid Number ASTM D 664 mg KOH/g 0.10 Water by Distillation ASTM D4006 % Vol. 0 Wax Content UOP 46 %mass <5.0 Notes: 1) Arsenic and Mercury were tested on a sample contained in a VOA vial. 2) RVP was tested on a sample from a separate 1L bottle. Page 3
TRUE BOILING POINT DISTILLATION DATA (ASTM D 2892) Sample Descriptions / Label : Barrow Crude Oil ex-eagle Tacoma Vapour Temperature Sl. No. % mass Cumulative % mass % Volume C Cumulative % Volume 1 LPG 1.1 1.1 1.7 1.7 2 15-70 2.6 3.7 3.4 5.1 3 70-100 3.9 7.6 4.4 9.5 4 100-120 5.8 13.4 6.5 16.0 5 120-140 4.7 18.1 5.1 21.1 6 140-160 5.3 23.4 5.8 7 160-190 8.6 32.0 9.0 8 190-230 13.8 45.8 13.8 9 230-250 7.1 52.9 6.9 10 250-280 11.4 64.3 10.9 11 280-310 8.2 72.5 7.7 12 310-330 4.9 77.4 4.5 14 330-360 5.8 83.2 5.3 26.9 35.9 49.7 56.6 67.5 75.2 79.7 85.0 15 360 + Residue 16.8 100.0 15.0 100.0 Page 4
Sample Descriptions / Label Barrow Crude Oil ex-eagle Tacoma LABORATORY REPORT NO. 2017-PTAD-000387 RAPID YIELD SIMDIS DATA (ASTM D7900 & ASTM D7169) Sl. No. Temperature ( C) % mass Sl. No. Temperature ( C) % mass Sl. No. Temperature ( C) % mass 1-0.5 0.5 35 194.3 34.0 69 292.1 68.0 2 27.8 1.0 36 196.9 35.0 70 295.5 69.0 3 49.2 2.0 37 199.6 36.0 71 299.3 70.0 4 68.7 3.0 38 202.6 37.0 72 302.8 71.0 5 71.8 4.0 39 205.4 38.0 73 306.8 72.0 6 80.7 5.0 40 208.4 39.0 74 310.6 73.0 7 90.8 6.0 41 211.4 40.0 75 314.8 74.0 8 91.9 7.0 42 214.9 41.0 76 318.8 75.0 9 100.9 8.0 43 217.9 42.0 77 323.5 76.0 10 100.9 9.0 44 220.4 43.0 78 328.4 77.0 11 104.9 10.0 45 223.2 44.0 79 333.3 78.0 12 116.7 11.0 46 225.5 45.0 80 338.6 79.0 13 117.6 12.0 47 228.0 46.0 81 344.2 80.0 14 118.9 13.0 48 230.7 47.0 82 350.0 81.0 15 123.4 14.0 49 233.9 48.0 83 356.0 82.0 16 125.7 15.0 50 237.0 49.0 84 362.5 83.0 17 132.9 16.0 51 239.8 50.0 85 369.5 84.0 18 136.2 17.0 52 242.6 51.0 86 377.1 85.0 19 140.6 18.0 53 245.1 52.0 87 385.2 86.0 20 144.9 19.0 54 247.2 53.0 88 393.8 87.0 21 148.6 20.0 55 249.3 54.0 89 403 88.0 22 151.7 21.0 56 252.0 55.0 90 412.5 89.0 23 154.5 22.0 57 255.0 56.0 91 422.3 90.0 24 156.5 23.0 58 257.8 57.0 92 433.0 91.0 25 160.3 24.0 59 260.8 58.0 93 445.0 92.0 26 163.1 25.0 60 263.5 59.0 94 459.7 93.0 27 166.0 26.0 61 265.8 60.0 95 476.8 94.0 28 170.8 27.0 62 268.7 61.0 96 496.7 95.0 29 175.2 28.0 63 271.5 62.0 97 521.0 96.0 30 177.4 29.0 64 274.6 63.0 98 551.6 97.0 31 179.7 30.0 65 277.9 64.0 99 593.5 98.0 32 183.8 31.0 66 281.2 65.0 100 667.3 99.0 33 187.0 32.0 67 284.9 66.0 101 719.9 99.5 34 190.7 33.0 68 288.6 67.0 Page 5
400 TRUE BOILING POINT DISTILLATION CURVE "Barrow Crude Oil" 380 360 340 320 300 280 260 240 Temperature C 220 200 180 160 140 120 100 80 60 40 20 0 0.0 10.0 20.0 30.0 40.0 50.0 60.0 70.0 80.0 90.0 100.0 Recovery % % Mass % Volume Page 6
460 RAPID YIELD SIMDIS / TRUE BOILING POINT DISTILLATION CURVE "Barrow Crude Oil" 440 420 400 380 360 340 320 300 280 260 Temperature C 240 220 200 180 160 140 120 100 80 60 40 20 0 0.0 10.0 20.0 30.0 40.0 50.0 60.0 70.0 80.0 90.0 100.0 Recovery % % Mass RY SIMDIS Page 7
SUMMARY OF PRODUCT / RESIDUE CUT POINTS AND YIELDS Sample Descriptions / Label: Barrow Crude Oil ex-eagle Tacoma Yield % Cut Points Barrow Crude Oil ex-eagle Tacoma ( C) % mass Volume % LPG < 15 1.1 1.7 NAPHTHA KEROSENE GAS OIL 15-70 2.6 3.4 70-140 14.4 16.0 140-230 27.7 28.6 230-360 37.4 35.3 RESIDUE 360 + 16.8 15.0 Page 8
Sample Descriptions / Label : Barrow Crude Oil ex-eagle Tacoma Test Method Unit LPG Fraction mass% 1.1 Fractional Distillation ASTM D2892 vol% 1.7 Density @15 C kg/l 0.5629 Specific Gravity @60/60 F ISO 8973-0.5629 API Gravity API 119.9 Composition mass% vol% Ethane 0.4 0.6 Propane 18.60 20.64 n-butane 47.74 46.03 Isobutane 27.81 27.82 Trans-2-Butene <0.01 <0.01 ISO 7941 Isobutene <0.01 <0.01 n-pentane 0.83 0.74 Isopentane 4.10 3.70 2,2 - dimethylpropane 0.39 0.35 C5+ 0.12 0.11 Page 9
Sample Descriptions / Label : Barrow Crude Oil ex-eagle Tacoma TEST METHOD UNIT Naphtha Fractions Initial BP C 15 70 Final BP C 70 140 Distillation of Crude Oil Yield % Wt. 2.6 14.4 ASTM D 2892 Yield % Vol. 3.4 16.0 Density @ 15 C ASTM D 4052 kg/l 0.6550 0.7465 Specific Gravity @ 60/60 F Conversion 0.6551 0.7467 API Gravity @ 60 F Calculated API 84.5 58.1 Copper Corrosion ASTM D130-1a 1a Detailed Hydrocarbon Analysis (DHA) ASTM D6730 Page 15 Page 16 Octane Number- Research (RON) Calculated - 82.17 78.42 Sulphur - Mercaptan UOP 163 wt ppm 0.4 0.1 Sulphur - Total ASTM D5453 mg/kg 83 13 Page 10
Sample Descriptions / Label : Barrow Crude Oil ex-eagle Tacoma TEST METHOD UNIT Kerosene Fractions Initial BP C 140 Final BP C 230 Distillation of Crude Oil Yield % Wt. 27.7 ASTM D 2892 Yield % Vol. 28.6 Density @ 15 C ASTM D 4052 kg/l 0.8175 Specific Gravity @ 60/60 F Conversion 0.8179 API Gravity @ 60 F Calculated API 41.5 Aniline Point ASTM D611, Proc E C 51.1 Aniline Gravity Product Calculated - 5145 Aromatics - FIA ASTM D 1319 % Vol. 12.7 Color, Saybolt - +30 Copper Corrosion ASTM D130-1a Freeze Point ASTM D2386 C <-60.0 Kinematic Viscosity @ -20 C 3.550 ASTM D 445 mm2/s Kinematic Viscosity @ 20 C 1.550 Naphthalene Content ASTM D 1840 % Vol. 0.45 Smoke Point ASTM D1322 mm 23.5 Sulphur - Mercaptan UOP 163 wt ppm 4.0 Sulphur - Total ASTM D5453 mg/kg 103 Total Acid Number ASTM D 664 mg KOH/g <0.10 Page 11
Sample Descriptions / Label : Barrow Crude Oil ex-eagle Tacoma TEST METHOD UNIT Gasoil Fraction Initial BP C 230 Final BP C 360 Distillation of Crude Oil Yield % Wt. 37.4 ASTM D 2892 Yield % Vol. 35.3 Density @ 15 C ASTM D 4052 kg/l 0.8911 Specific Gravity @ 60/60 F Conversion 0.8916 API Gravity @ 60 F Calculated API 27.2 Cetane Index ASTM D4737 A 38.0 UOP Characterization Factor UOP 375-11.22 Cloud Point ASTM D2500 C -38 Color, ASTM ASTM D6045-0.5 Copper Corrosion ASTM D130-1a Distillation ASTM D86 C Page 14 Kinematic Viscosity @ 40 C ASTM D 445 mm2/s 4.053 Pour Point ASTM D97 C <-36 Sulphur - Total IP 336 %mass 0.047 Total Acid Number ASTM D 664 mg KOH/g 0.10 Page 12
Sample Descriptions / Label: Barrow Crude Oil ex-eagle Tacoma TEST METHOD UNIT Residue Initial BP C 360+ Final BP C Distillation of Crude Oil Yield ASTM D 2892 % Wt. 16.8 Yield % Vol. 15.0 Density @ 15 C IP 365 kg/l 0.9489 Specific Gravity @ 60/60 F Conversion 0.9494 API Gravity @ 60 F Calculated API 17.5 Aniline Point ASTM D611, Proc E C 74.00 Aniline Gravity Product Calculated - 2888 Ash Content ASTM D482 %mass 0.014 Asphaltenes IP 143 %mass <0.50 Carbon Content ASTM D5291 %mass 87.9 Hydrogen Content %mass 11.5 Carbon Residue - Micro ASTM D4530 %mass 1.73 UOP Characterization Factor UOP 375-11.96 Kinematic Viscosity @ 50 C ASTM D 445 mm2/s 138.9 Metals Lead <1 Nickel <1 Copper ASTM D5185 Mod mg/kg <1 Iron 2.7 Sodium 1.3 Vanadium 7.9 Nitrogen - Basic UOP 269 mg/kg 520 Nitrogen - Total ASTM D5762 mg/kg 1291 Pour Point ASTM D97 C 9 Sulphur - Total IP 336 %mass 0.16 Total Acid Number ASTM D 664 mg KOH/g 0.30 Wax Content UOP 46 %mass <5.0 Page 13
ASTM 86 - DISTILLATION DATA Sample Descriptions / Label : Barrow Crude Oil ex-eagle Tacoma Fractions Boiling range C 230 360 Yield Wt. % 37.4 Vol.% 35.3 Initial boiling point C 247.9 5% recovered C 255.9 10% recovered C 258.8 20% recovered C 262.4 30% recovered C 266.2 40% recovered C 270.9 50% recovered C 277.0 60% recovered C 284.4 70% recovered C 294.2 80% recovered C 306.0 90% recovered C 320.1 95% recovered C 329.7 Final Boiling Point C 334.3 Volume recovered % Vol. 98.1 Residue % Vol. 1.2 Loss % Vol. 0.7 Page 14
DETAIL HYDROCARBON ANALYSIS Sample Descriptions / Label: Barrow Crude Oil ex-eagle Tacoma FRACTION - 15-70 C Totals by Group Type and Carbon Number (in Mass Percent) n-paraffins Iso-Paraffins Olefins Naphthenes Aromatics Total C3 C4 13.555 0.000 0.000 0.000 0.000 13.555 C5 24.560 28.102 0.000 3.732 0.000 56.395 C6 8.109 16.755 0.000 5.186 0.000 30.050 C7 C8 C9 C10 C11 Unknowns 0.000 Total 46.224 44.857 0.000 8.918 0.000 100.000 Totals by Group Type and Carbon Number (in Volume Percent) n-paraffins Iso-Paraffins Olefins Naphthenes Aromatics Total C3 C4 14.851 0.000 0.000 0.000 0.000 14.851 C5 24.872 28.762 0.000 3.175 0.000 56.809 C6 7.799 16.148 0.000 4.393 0.000 28.340 C7 C8 C9 C10 C11 Unknown 0.000 Total 47.521 44.910 0.000 7.568 0.000 100.000 Page 15
DETAIL HYDROCARBON ANALYSIS Sample Descriptions / Label: Barrow Crude Oil ex-eagle Tacoma FRACTION - 70-140 C Totals by Group Type and Carbon Number (in Mass Percent) n-paraffins Iso-Paraffins Olefins Naphthenes Aromatics Total C3 C4 6.075 0.982 0.00 0.00 0.00 7.058 C5 20.530 20.616 0.000 3.653 0.000 44.799 C6 10.987 25.093 0.000 10.268 0.531 46.878 C7 0.000 1.063 0.000 0.202 0.000 1.265 C8 C9 C10 C11 Unknown 0.000 Total 37.592 47.754 0.000 14.123 0.531 100.00 Totals by Group Type and Carbon Number (in Volume Percent) n-paraffins Iso-Paraffins Olefins Naphthenes Aromatics Total C3 C4 6.815 1.144 0.00 0.00 0.00 7.959 C5 21.285 21.610 0.000 3.181 0.000 46.076 C6 10.817 24.763 0.000 8.801 0.392 44.773 C7 0.000 1.017 0.000 0.175 0.000 1.192 C8 C9 C10 C11 Unknown 0.000 Total 38.916 48.535 0.000 12.157 0.392 100.00 Page 16