Early warning report
Name and address of the offeror.
Urion Holdings (Malta) Limited (the "Offeror")
c/o 20th Floor, ITO Tower
Gustav Mahlerplein 102
1082 MA
Amsterdam
The Netherlands
2. Designation and number or principal amount of securities and the offeror's securityholding
percentage in the class of securities of which the offeror acquired ownership or control in the
transaction or occurrence giving rise to the obligation to file the news release, and whether it was
ownership or control that was acquired in those circumstances.
On August 28, 2015 the Offeror (a wholly owned indirect subsidiary of Trafigura Beheer B.V.
("Trafigura")), acquired an aggregate of 2,200,000 common shares of Pacific Exploration &
Production Corporation (the "Issuer") at an average price of $4.42 per share in the open market (the
"Acquisition"), which common shares represent approximately 0.7% of the issued and outstanding
common shares of the Issuer.
As a result of the Acquisition, the Offeror owns and controls a total of 31,653,370 common shares of
the Issuer, representing approximately 10.01% of the issued and outstanding common shares of the
Issuer.
3. Designation and number or principal amount of securities and the offeror's securityholding
percentage in the class of securities immediately after the transaction or occurrence giving rise to
the obligation to file the news release.
After giving effect to the Acquisition, the Offeror owns or controls 31,653,370 common shares in the
capital stock in the Issuer representing approximately 10.01% of the currently issued and outstanding
common shares of the Issuer.
4. Designation and number or principal amount of securities and the percentage of outstanding
securities of the class of securities referred to in paragraph 3 over which:
(i) the offeror, either alone or together with any joint actors, has ownership and control:
The Offeror now owns and controls a total of 31,653,370 common shares of the Issuer,
representing approximately 10.01% of the issued and outstanding common shares of the Issuer.
See also items 2 and 3 above.
(ii) the offeror, either alone or together with any joint actors, has ownership but control is
held by other persons or companies other than the offeror or any joint actor:
Not applicable.
(iii) the offeror, either alone or together with any joint actors, has exclusive or shared control
but does not have ownership:
Not applicable.
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5. The name of the market in which the transaction or occurrence that gave rise to the news release
took place.
The Toronto Stock Exchange.
6. The value, in Canadian dollars, of any consideration offered per security if the offeror acquired
ownership of a security in the transaction or occurrence giving rise to the obligation to file a news
release.
See Item 2 above.
7. The purpose of the offeror and any joint actors in effecting the transaction or occurrence that
gave rise to the news release, including any future intention to acquire ownership of, or control
over, additional securities of the reporting issuer.
Offeror intends to review its investment in the Issuer on a continuing basis. Offeror has acquired these
common shares of the Issuer for investment purposes and may increase or decrease the investment in
these securities depending upon future market conditions. Offeror may change its beneficial ownership
of, or control or direction over, common shares of the Issuer through market transactions, private
agreements, treasury issuances or otherwise.
8. General nature and material terms of any agreement, other than lending arrangements, with
respect to securities of the reporting issuer entered into by the offeror, or any joint actor, and the
issuer of the securities or any other entity in connection with the transaction or occurrence giving
rise to the news release, including agreements with respect to the acquisition, holding, disposition
or voting of any of the securities.
Not applicable.
9. Names of any joint actors in connection with the disclosure required herein.
Not applicable.
10. In the case of a transaction or occurrence that did not take place on a stock exchange or other
market that represents a published market for the securities, including an issuance from
treasury, the nature and value of the consideration paid by the offeror.
Not applicable.
11. If applicable, a description of any change in any material fact set out in a previous report by the
entity under the early warning requirements or Part 4 in respect of the reporting issuer's
securities.
Not applicable.
12. If applicable, a description of the exemption from securities legislation being relied on by the
offeror and the facts supporting that reliance.