Epstein Secrets

nager on DP drillships prior to take over his first rig Manager job in 2004, a position he held for the last 5 years. His work locations were mainly North Sea and Brazil. Frederic Jacquemin, Rig Manager Frederic comes from a engineering background (M.Sc Petroleum Engineering & Project Development — IFP Sc

ar that must be replaced simply to meet flat demand ▪ This equates to the replacing all the current combined oil production capacity of Nigeria and Angola ■ Economic recovery set to stimulate demand for oil and other commodities in the next few years • Anticipated oil price realizations are expected

on Key Players 40 Angola 40 Brazil 42 Canada 44 Caspian Sea, ex Russie 47 Colombia 49 U.S. Gulf of Mexico 51 Malaysia 54 Mexico 56 North Sea 59 Russia 61 Appendix 63 Page 2 Deutsche Bank Securities Inc. CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0058853 CONFIDENTIAL

om Buy 32 Risks to the Outlook 33 Iran and the Rest of OPEC 33 Other Risks to the Outlook 37 A Country by Country Outlook on Key Players 40 Angola 40 Brazil 42 Canada 44 Caspian Sea, ex Russie 47 Colombia 49 U.S. Gulf of Mexico 51 Malaysia 54 Mexico 56 North Sea 59 Russia 61

020. Figure 13: ,_014-20 I 7 Cumulative Growth (Mbid) Figure 14 2014.2020 Cumulative Growth (Mbrkt Mexico MI Non-OPEC Mickile East Colombia ■ North Sea • Alaska r Caspian Sea India Europe Non-OECD Other Non-OECD Asia Angola Other FSU Australia Other Non-OPEC Latin America Other Europe OE

ive Growth (Mbrkt Mexico MI Non-OPEC Mickile East Colombia ■ North Sea • Alaska r Caspian Sea India Europe Non-OECD Other Non-OECD Asia Angola Other FSU Australia Other Non-OPEC Latin America Other Europe OECD China Indonesia Other Asia OECD Malaysia ■ Non-OPEC Africa Russia GoM

rice assumptions 3.0 2.5 2.0 mn b/d, YoY BofAML f'cast 15 1.0 0.5 0.0 -0.5 -1.0 2010 2012 2014 2016F 2018F 2020F mu US meme Canada mam Mexico mmm North Sea mmm Russia Kazakhstan . . 2013 2014 2015 2016 2017 2018 2019 2020 mum Asia Brazil mmm Sudan/So. Sudan other —+— total non-OPEC base =2016@$45/bbl m20

namely Iran the UAE Global oil consumption BofAML OPEC capacjty growth, 2015-2020F 105 Kuwait mn bpd fcast uwail 100 , Algeria 95 Qatar 90 Venezuela Angola 85 3 Ecuador 80 Nigeria 15 UAE 70 Libya 65 Iran Saudi Arabia 60 87 89 91 93 95 97 99 01 03 05 07 09 11 13 15 17 19 -0.3 -0.1 0.1 0.3 05 Source: IEA,