Low Cost Oil Production - Permian Basin, Texas

Tel: +61 1300 133 921 Fax: +61(8) 6298 6191 USA Two Riverway 17th Floor Suite 1700 Houston Texas USA 77056 Tel: +1 713 333 0610 winchesterenergyltd.cm HIGHLIGHTS • Winchester seeing oil prices improving and promising evidence of a possible “V” shaped oil recovery. • To preserve operating capital Winchester has reduced oil production operating costs (“OPEX” or “lifting costs”) to US$2.46/barrel1 an