Product Netbacks (net of royalties)

(Net of Royalities) - US$ 2004 2003 2002
North America Oil and Liquids (US$/bbl)      
Sales Price 32.44  25.64  20.96 
Hedging(gain) 5.81  2.21  0.04 
Transportation 0.48  0.44  0.31 
Operating costs 6.55  5.67  4.48 
    19.60  17.32  16.13 
  Natural Gas(US$/mcf)      
Sales Price 5.26  4.74  2.70 
Hedging(gain) 0.10  0.10  (0.22)
Transportation 0.19  0.19  0.18 
Operating costs 0.76  0.68  0.56 
    4.21  3.77  2.18 
North Sea Oil and Liquids (US$/bbl)      
Sales Price 37.23  28.35  24.68 
Hedging(gain) 5.77  1.43  0.08 
Transportation 0.89  0.83  0.82 
Operating costs 10.28  8.19  6.56 
    20.29  17.90  17.22 
  Natural Gas(US$/mcf)      
Sales Price 4.29  3.41  2.68 
Hedging(gain)
Transportation 0.29  0.28  0.33 
Operating costs 0.47  0.28  0.31 
    3.53  2.85  2.04 
Southeast Asia Oil and Liquids (US$/bbl)      
Sales Price 39.49  29.66  25.80 
Hedging(gain) 2.78  0.06 
Transportation 0.30  0.48  0.84 
Operating costs 7.32  8.48  7.92 
    31.87  17.92  16.98 
  Natural Gas(US$/mcf)      
Sales Price 3.65  4.12  3.63 
Hedging(gain)
Transportation 0.42  0.59 0.62
Operating costs 0.27  0.38 0.40
    2.96  3.15 2.61
Algeria Oil(US$/bbl)      
Sales Price 39.48  27.84 
Hedging(gain) 3.13 
Transportation 2.20  2.55 
Operating costs 4.41  7.06 
    32.87  15.10 
Sudan Oil(US$/bbl)      
Sales Price 31.33  24.06 
Hedging(gain) 0.08 
Operating costs 4.96  4.02 
    26.37  19.96 
Total Company Oil and Liquids (US$/bbl)      
Sales Price 36.57  27.90  23.85 
Hedging(gain) 4.90  1.71  0.07 
Transportation 0.79  0.70  0.58 
Operating costs 8.87  7.46  5.78 
    22.01  18.03  17.42 
  Natural Gas(US$/mcf)      
Sales Price 4.84  4.50  2.80 
Hedging(gain) 0.07  0.07  (0.17)
Transportation 0.25  0.25  0.25 
Operating costs 0.63  0.59  0.51 
    3.89  3.59  2.21 

Netbacks do not include synthetic oil or pipeline operations.