Epstein Secrets

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

e is the growth coming from? 10 Capex Reductions 15 Show me the money (or lack thereof) 15 Setting the stage for the next oil price spike? 18 The North Sea: A Case Study On Spend and Decline Rates 20 Implied Call on the US 24 The new, "price driven" swing producer 24 Incentivizing the US producer

31 May 2015 Integrated Oil US Integrated Oils The North Sea: A Case Study On Spend and Decline Rates In some ways, the Norwegian North Sea is representative on a small scale of larger trends across the industry over the next couple of years. After steadily declining for nearly 14 years

31 May 2015 Integrated Oil US Integrated Oils The North Sea: A Case Study On Spend and Decline Rates In some ways, the Norwegian North Sea is representative on a small scale of larger trends across the indus

31 May 2015 Integrated Oil US Integrated Oils North Sea The North Sea has been synonymous in recent years with mature, Non-OPEC decline, and for good reason. Since its peak production in 2000, North Sea

31 May 2015 Integrated Oil US Integrated Oils North Sea The North Sea has been synonymous in recent years with mature, Non-OPEC decline, and for good reason. Since its peak production in 2000, North Sea production has