Hunting Manufactures and distributes products that enable the

(316.9) Net assets561.8 557.3 Net cash365.0 372.3 Capital Expenditure 8 2009 £m 2008 £m Hunting Energy Services Well Construction9.1 13.6 Well Completion8.3 10.9 Well Intervention1.8 0.8 Exploration & Production1.9 8.8 Others0.5 0.7 21.6 34.8 Split: Replacement9.9 24.2 New Business11.7 10.6 21.6 34.8 Acquisitions Update Three acquisitions completed in the period " NCC for £31.8m " PT SMB Industri for £6.3m " Welltonic for £9.2m Good pipeline of companies still being assessed 9 Capital Expenditures Wuxi, China " Cost : $10 million " SQ/FT : 300,000 " Completion Date: Q2 2010 Conroe, Texas " Cost : $4.5 million " SQ/FT : 36,000 " Completion Date : Q2 2010 Casper, Wyoming " Cost : $9 million " SQ/FT : 60,000 " Completion Date : Q3 2010 10 Capital Expenditures (continued) Houma, Louisiana cMega Center d " Cost : $50 million " SQ/FT : 250,000 " Completion Date : 2011 Aberdeen, Scotland " Cost : $30 million " Consolidation and expansion " Completion Date : Q1 2012 11 Cash Flow 12 2009 £m 2008 £m EBITDA50.6 75.7 Working Capital11.9 (15.7) Others(6.1) (1.9) Capital expenditure -replacement (9.9) (24.2) Interest and tax(7.0) (9.5) FREE CASH FLOW39.5 24.4 Capital expenditure -growth(11.7) (10.6) Acquisitions(44.4) (1.6) Disposals24.0 524.4 Dividends(13.8) (11.3) Other(3.8) (2.5) Discontinued Operations2.9 (11.3) (Decrease)/Increase in net cash(7.3) 511.5 Hunting Energy Well Construction 13 Hunting Energy Services Well Construction 14 Profit from Operations £m 2006 2007 2008 2009 8.0 8.1 13.5 3.3 Unconventional GasLand RigsDeepwater + Well Construction Product Integration Points 15 OCTGPremium Connections Drilling Tools Mud Motors Drill Collars Shock Tools Carbon Alloy Chrome SEAL-LOCK TKC Licensed Threads APRS + Well Construction Products Mud Motors : Hunting 9s mud motors decrease the time it takes to drill wells utilising state of the art technology to manage hydraulics in a means to increase drill bit speed Annular Pressure Relief System : Hunting 9s APRS system provides our customers with additional insurance against casing collapse and loss of well in deepwater applications 16 Well Construction Products Non-Magnetic Drill Collars : Allow directional drilling operations to have accurate information from sensors located close to the drill bit WEDGE-LOCK : Hunting 9s newest premium connection provides superior capabilities in deviated and directional drilling applications 17 Hunting Energy Well Completion 18 Hunting locations for Shale and Tight Gas plays 19 Hunting Energy Services Well Completion 20 Profit from Operations £m 2006 2007 2008 2009 20.0 30.0 26.6 20.3 Well Completion Product Integration Points Unconventional Gas Land Rigs Deepwater Specialty Threading Tubular Systems Accessory Manufacturing Completion Accessories Assembly Print Part Work Polished Bore Receptacles SEAL-LOCK TKC Licensed Threads API Deepwater Facilities Managed Inventory Completion Design Thread Protection 21 ++ Well Completion Products Completion Accessories: Hunting 9s global manufacturing footprint provides products and services assisting in the completion of wells " Proprietary products " OEM Equipment Polished Boring : Hunting provides the market products which have the inside diameter bored and polished for flow maximisation in highly critical applications 22 Well Completion Products Premium Tubing: Hunting 9s global footprint provides the marketplace with tubing connections which have engineered gas tight seal designs " TKC " SEAL-LOCK " 2-Step Advanced Tubular Systems: Hunting provides the market with environmentally sound running, storage compounds and thread protectors 23 Hunting Energy Well Intervention 24 Hunting Energy Services Well Intervention 25 Profit from Operations £m 2006 2007 2008 2009 3.6 4.1 4.6 4.0 Well Intervention Product Integration Work Over Coiled Tubing Subsea Thru-Tubing Tools Subsea Manufacturing Pressure Control Equip OEM Tools E-Line Tools Slickline Tools Coiled Tubing Tools Coiled Tubing Motors Chemical Injection System Hydraulic Valves Hydraulic Couplings Weldment Services 26 + + Well Intervention Products Pressure Control Equipment: Hunting provides the market with a highly technical and innovative line of products and services in support of wellhead control and management Downhole Tools: Hunting provides specialty tools for Slickline and Wireline applications as an OEM for major Oilfield Service companies to the global market. Specialty or cprint part dwork is provided for close tolerance highly technical manufacturing 27 Well Intervention Products Hunting Subsea Chemical Injection System: Hunting provides a positive displacement metering system with a maximum working pressure of 17,500 PSI. This cost effective, reliable system will redefine flow measurement accuracy Specialty Valves: Hunting provides a series of highly engineered patented valves to ensure positive pressure in the umbilical line or back pressure at the blow out preventer 28 Thru-Tubing Technology Hunting-Welltonic Thru-Tubing Specialists Coiled tubing tools Design, manufacture and sales of specialist and custom designed tools to companies worldwide.<br><br> This covers an extensive range of intervention equipment from mud motors, tubular severance and perforating products to fishing tools. Coiled tubing Services Advanced services from the in- house design and engineering team for well intervention and workover operations, enhanced by on location sales support, inventory management and rentals. 29 Gibson Shipbrokers Core activities remain focused on the shipping of energy Selective recruitment to continue purposeful global expansion 30 Profit from Operations £m 2006 2007 2008 2009 2.9 2.9 6.9 0.7 Others Hunting Exploration and Production Field Aviation 31 Profit from Operations £m 2006 2007 2008 2009 1.8 4.4 5.9 0.3 Profit from Operations £m 2006 2007 2008 2009 4.2 (0.3) 1.3 7.2 US Spot Oil Price (US$ / bbl) 32 World Oil Demand (mbpd) 33 Offshore Capital Spending 34 Operational / Acquisition Strategy 35 Hunting Energy Services Strategy Hunting Subsea 3emphasis on ultra deep water High Pressure High Temperature Capitalise on Premium Connection Position Expand Global Footprint Continued Development of Well Intervention Platform Acquisitions which Complement Existing Operations and Products 36<br><br>

less