ze Hess view of Payara and Snoek. We assume the 1bn boe Pacuma prospect is the light green area below Payara. Exhibit 7: Initial characterization of Payara Exhibit 8: Updated characterization suggests a similar footprint to Liza ( Liza Water Depth: 5,500-5,700 ft / Drilling TD: 18,000-18,800 ft Future

and Pacuma, providing line of sight for at least a 4 FPSO development starting in 2019. ¢ After Liza 4, the Stena Carron drillship will move back to Payara to drill an appraisal well which will also test a deeper prospect ‘Pacuma tail’. Where pre- drill prospect size is scaled at about 1bn boe. The next

03 January 2017 Merrill Lynch HOUSE_OVERSIGHT_014629 --- PAGE BREAK --- Latest reports: Tales from the road (Dec 1, 2016); Speculation builds over Payara (Dec 19, 2016) 1Q17 risks: We expect a supportive commodity backdrop, spending clarity and confirmed return to growth all punctuated by a steady str

scounted in shar=s, and Liza #3 is an event that investors will have to revisit in coming w=eks. Next catalysts are the Liza #3 appraisal (4Q16) and Payara (early 201=). The Liza #3 well, has the potential to further de-risk a reso=rce base for the play opening Liza discovery currently suggested by XOM