ARHT Media Inc V.ART.H

RE: RE: RE: RE: RE: good40 the fraudster

[Baxter4]

From the Idependent reserves estimate. Pay special attention to note 2.

The chart below sets out the gross volume estimates, as prepared by AJM.

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PIIP and Prospective Resources (Unrisked)(1)(6)(7)(8)
Qara Dagh Block
As of December 31, 2009
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Oil (millions of Barrels)
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Low Best High Mean
Category Estimate Estimate Estimate Estimate
P90(2) P50(3) P10(4) Pmean(5)
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Petroleum Initially in Place 1,674 2,742 4,896 3,129

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Prospective Gross Ultimate Recovery 269 450 849 526
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Notes:

1. These are the gross volumes estimated for the Qara Dagh Block, without
any adjustments for working interest or encumbrances. The company holds
a 37% interest in this resource accumulation.
2. Low Estimate is considered to be a conservative estimate of the quantity
that will actually be recovered. P90 means that there is a 90-percent
chance that an estimated quantity, such as a prospective resources
volume or associated value, will be equalled or exceeded.
3. Best Estimate is considered to be the best estimate of the quantity that
actually will be recovered. P50 means that there is a 50-percent chance
or that it is equally likely that the actual remaining quantities
recovered or associated value will be greater or less than the best
estimate.
4. High Estimate is considered to be an optimistic estimate of the quantity
that will be recovered. P10 means that there is a 10-percent chance that
an estimated quantity, such as a prospective resource volume or
associated value, will be equalled or exceeded.
5. Mean Estimate is the average from the probabilistic assessment.
6. While the above quantities have not been adjusted for risk, AJM has
assigned reserves to 7 formations. The Cretaceous which currently
contains 3 target reservoirs has been estimated to have an average
chance of success of 30%. The Jurassic currently contains 3 target
reservoirs and has been estimated to have an average success chance of
21% and the Triassic has 1 target reservoir with an estimated chance of
success of 17%.
7. Undiscovered petroleum and prospective resources were estimated for the
main Qara Dagh structure, which consists of the Sagirma and Qara Dagh
areas, and the Golan structure. These estimates have been combined in
the above table.
8. The resource estimate was prepared in accordance NI 51-101 and the COGE
Handbook.