Table of Contents Table of Contents 2 List of Tables 4 List of Figures 4 Company Snapshot 6 Key Information 6 Company Overview 6 Oil Search Limited, Valuation and Financial Data 7 Oil Search Limited, Share Price Performance 7 Share Price Performance, Q1, 2015-Q1, 2016 7 Oil Search Limited, Quarterly E&P Costs Trends 8 Upstream Capital Expenditure, Q1, 2015-Q1, 2016 8 Oil Search Limited, Quarterly Production Trends 9 Oil Search Limited, Total Oil and Gas Production 9 Total Crude Oil and Natural Gas Production Trend, Q1, 2015-Q1, 2016 9 Oil Search Limited, Crude Oil Production 10 Total Crude Oil Production Trend, Q1, 2015-Q1, 2016 10 Oil Search Limited, Natural Gas Production 11 Total Natural Gas Production Trend, Q1, 2015-Q1, 2016 11 Oil Search Limited, Valuation and Financial Data, 2011-2015 12 Oil Search Limited, Share Price Performance, 2011-2015 12 Share Price Performance, 2011-2015 12 Key Valuation Metrics, 2011-2015 13 Oil Search Limited, Production and Reserves Trends 14 Total Oil and Gas, Reserves and Production 14 Total Crude Oil and Natural Gas Production and Reserves Trend, 2011-2015 14 Total Crude Oil & Natural Gas Production and Reserves By Country/Region, 2011-2015 16 Total Crude Oil and Natural Gas Reserve Changes, 2011-2015 18 Crude Oil/Liquids Production and Reserve 19 Crude Oil/Liquids Production and Reserve Trend, 2011-2015 19 Crude Oil Production and Reserves By Country/Region, 2011-2015 20 Crude Oil/Liquids Reserve Changes, 2011-2015 22 Natural Gas Production and Reserve 23 Natural Gas Production and Reserve Trend, 2011-2015 23 Natural Gas Production and Reserves, By Country/Region, 2011-2015 24 Natural Gas Reserve Changes, 2011-2015 26 Total Crude Oil and Natural Gas Reserves Life Index 27 Total Crude Oil and Natural Gas Reserves Life Index, 2011-2015 27 Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region, 2011-2015 28 Oil Search Limited, E&P Costs Trends 30 Allocation of the Upstream Capital Expenditure 30 Upstream Capital Expenditure, 2011-2015 30 Exploration and Development Costs, By Country/Region, 2011-2015 31 Oil and Gas Cost Per boe, US$/boe 33 Oil and Gas Cost Per boe, US$/boe, 2011-2015 33 Oil and Gas Cost Per boe, US$/boe, By Country/Region, 2011-2015 35 Oil Search Limited, Reserve Replacement Ratio 37 Oil and Gas Production Replacement Ratio 37 Oil and Gas Production Replacement Ratio, 2011-2015 37 Oil and Gas Production Replacement Ratio, By Country/Region, 2011-2015 39 Oil Search Limited, Results of Oil & Gas Operations Trend 41 Oil and Gas Revenue and Expenses 41 Oil and Gas Revenue and Expenses, 2011-2015 41 Oil and Gas Revenue and Expenses, By Country/Region, 2011-2015 42 Oil and Gas Revenue and Expenses, Per boe 46 Oil and Gas Revenue and Expenses, By boe, 2011-2015 46 Oil and Gas Revenue and Expenses Per boe, By Country/Region, 2011-2015 47 Oil and Gas Performance Metrics 50 Recent Developments 51 Oil Search Limited - Recent Developments 51 Sep 28, 2016: Oil Search enters FEED on Biomass Project in PNG 51 Sep 12, 2016: Oil Search Announces Changes To The Board And Board Committees 51 Sep 01, 2016: Oil Search Provides Exploration And Appraisal Drilling Update Of August 2016 53 Aug 05, 2016: Oil Search: Activities For The Quarter Ended July 2016 54 Jul 21, 2016: Oil Search: Activities For The Quarter Ended 30 June 2016 54 Jul 07, 2016: Oil Search Provides Exploration And Appraisal Drilling Update Of June 2016 62 Jun 03, 2016: Oil Search Provides Exploration And Appraisal Drilling Update Of May 2016 63 May 11, 2016: Oil Search Provides Update On Activities For The Quarter Ended 31 April 2016 65 Apr 29, 2016: Horizon Oil Provides Report On Third Quarter Activities - 31 March 2016 66 Apr 19, 2016: Oil Search Provides Update On Activities For The Quarter Ended 31 March 2016 69 Appendix 76 Methodology 76 Coverage 76 Secondary Research 76 Primary Research 76 Data Information Sources 77 Company Source 77 SEC/Other Regulatory Filings 77 Other Sources 77 Expert Panel Validation 77 Data Definition 77 Oil and Gas Reserves 77 Units of Measure 78 About GlobalData 78 Disclosure 78 Disclaimer 78

List of Tables Table 1: Oil Search Limited, Key Facts 6 Table 2: Oil Search Limited, Share Price Performance, Q1, 2015-Q1, 2016 7 Table 3: Oil Search Limited, Upstream Capital Expenditure, Q1, 2015-Q1, 2016 8 Table 4: Oil Search Limited, Total Crude Oil and Natural Gas, Production, Q1, 2015-Q1, 2016 9 Table 5: Oil Search Limited, Total Crude Oil Production, mmbbl, Q1, 2015-Q1, 2016 10 Table 6: Oil Search Limited, Total Natural Gas Production, bcf, Q1, 2015-Q1, 2016 11 Table 7: Oil Search Limited, Share Price Performance, 2011-2015 12 Table 8: Oil Search Limited, Key Valuation Metrics, 2011-2015 13 Table 9: Oil Search Limited, Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2011-2015 15 Table 10: Oil Search Limited, Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, mmboe, 2011-2015 17 Table 11: Oil Search Limited, Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2011-2015 18 Table 12: Oil Search Limited, Crude Oil Production and Reserves Metrics, mmbbl, 2011-2015 19 Table 13: Oil Search Limited, Crude Oil Production and Reserves, By Country/Region, mmbbl, 2011-2015 21 Table 14: Oil Search Limited, Crude Oil Reserve Changes, mmbbl, 2011-2015 22 Table 15: Oil Search Limited, Natural Gas Production and Reserves Metrics, bcf, 2011-2015 23 Table 16: Oil Search Limited, Natural Gas Production and Reserves, By Country/Region, bcf, 2011-2015 25 Table 17: Oil Search Limited, Natural Gas Reserve Changes, bcf, 2011-2015 26 Table 18: Oil Search Limited, Oil and Gas Reserves Life Index, Years, 2011-2015 27 Table 19: Oil Search Limited, Oil and Gas Reserves Life Index, By Country/Region, Years, 2011-2015 29 Table 20: Oil Search Limited, Upstream Capital Expenditure, US$ mil, 2011-2015 30 Table 21: Oil Search Limited, Exploration and Development Costs, By Country/Region, US$ mil, 2011-2015 32 Table 22: Oil Search Limited, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2011-2015 34 Table 23: Oil Search Limited, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, By Country/Region, 2011-2015 36 Table 24: Oil Search Limited, Oil and Gas Production Replacement Ratio, %, 2011-2015 38 Table 25: Oil Search Limited, 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 2011-2015 40 Table 26: Oil Search Limited, Revenue and Expenses, US$ mil, 2011-2015 41 Table 27: Oil Search Limited, Revenue and Expenses, By Country/Region, US$ mil, 2011-2015 45 Table 28: Oil Search Limited, Oil and Gas Revenue and Expenses, US$/boe, 2011-2015 46 Table 29: Oil Search Limited, Oil and Gas Revenue and Expenses, US$/boe, By Country/Region, 2011-2015 49 Table 30: Oil Search Limited, Oil and Gas Performance Metrics, 2011-2015 50 List of Figures Figure 1: Oil Search Limited, Share Price Performance, AUD/Share, Q1, 2015-Q1, 2016 7 Figure 2: Oil Search Limited, Upstream Capital Expenditure, US$ mil, Q1, 2015-Q1, 2016 8 Figure 3: Oil Search Limited, Total Crude Oil and Natural Gas, Production, mmboe, Q1, 2015-Q1, 2016 9 Figure 4: Oil Search Limited, Total Crude Oil Production, mmbbl, Q1, 2015-Q1, 2016 10 Figure 5: Oil Search Limited, Total Natural Gas Production, bcf, Q1, 2015-Q1, 2016 11 Figure 6: Oil Search Limited, Share Price Performance, AUD/Share, 2011-2015 12 Figure 7: Oil Search Limited, Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve (US$/boe), 2011-2015 13 Figure 8: Oil Search Limited, Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2011-2015 14 Figure 9: Oil Search Limited, Total Oil & Gas Reserves, End of Period, By Country/Region, mmboe, 2011-2015 16 Figure 10: Oil Search Limited, Total Oil & Gas Production, By Country/Region, mmboe, 2011-2015 16 Figure 11: Oil Search Limited, Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2015 18 Figure 12: Oil Search Limited, Crude Oil Production and Reserves Metrics, mmbbl, 2011-2015 19 Figure 13: Oil Search Limited, Oil Reserves, End of Period, By Country/Region, mmbbl, 2011-2015 20 Figure 14: Oil Search Limited, Oil Production, By Country/Region, mmbbl, 2011-2015 20 Figure 15: Oil Search Limited, Crude Oil Reserve Changes, mmbbl, 2015 22 Figure 16: Oil Search Limited, Natural Gas Production and Reserves Metrics, bcf, 2011-2015 23 Figure 17: Oil Search Limited, Gas Reserves, End of Period, By Country/Region, bcf, 2011-2015 24 Figure 18: Oil Search Limited, Gas Production, By Country/Region, bcf, 2011-2015 24 Figure 19: Oil Search Limited, Natural Gas Reserve Changes, bcf, 2015 26 Figure 20: Oil Search Limited, Oil and Gas Reserves Life Index, Years, 2011-2015 27 Figure 21: Oil Search Limited, Gas Reserve Life Index, By Country/Region, Years, 2011-2015 28 Figure 22: Oil Search Limited, Oil & Gas Reserve Life Index, By Country/Region, Years, 2011-2015 28 Figure 23: Oil Search Limited, Oil Reserve Life Index, By Country/Region, Years, 2011-2015 29 Figure 24: Oil Search Limited, Upstream Capital Expenditure, US$ mil, 2011-2015 30 Figure 25: Oil Search Limited, Development Costs, By Country/Region, US$ mil, 2011-2015 31 Figure 26: Oil Search Limited, Exploration Costs, By Country/Region, US$ mil, 2011-2015 31 Figure 27: Oil Search Limited, 3-Year Wt.Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2011-2015 33 Figure 28: Oil Search Limited, Oil & Gas Finding & Development Cost/boe, 3-Year Average, By Country/Region, US$/boe, 2011-2015 35 Figure 29: Oil Search Limited, Oil & Gas Finding Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2011-2015 35 Figure 30: Oil Search Limited, Reserve Replacement Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2011-2015 36 Figure 31: Oil Search Limited, 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 2011-2015 37 Figure 32: Oil Search Limited, 3-Year Wt. Avg. Oil & Gas F&D Production Replacement, By Country/Region, %, 2011-2015 39 Figure 33: Oil Search Limited, 3-Year Wt. Avg. Oil & Gas RRC Production Replacement, By Country/Region, %, 2011-2015 39 Figure 34: Oil Search Limited, Revenue and Expenses, US$ mil, 2011-2015 41 Figure 35: Oil Search Limited, Depreciation, Depletion and Amortization From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 42 Figure 36: Oil Search Limited, Exploration Expenses, By Country/Region, US$ mil, 2011-2015 42 Figure 37: Oil Search Limited, Oil & Gas Revenue, By Country/Region, US$ mil, 2011-2015 43 Figure 38: Oil Search Limited, Profit (loss) Before Taxation From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 43 Figure 39: Oil Search Limited, Production Costs, By Country/Region, US$ mil, 2011-2015 44 Figure 40: Oil Search Limited, Total Expenses From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 44 Figure 41: Oil Search Limited, Oil and Gas Revenue and Expenses, US$/boe, 2011-2015 46 Figure 42: Oil Search Limited, Exploration Expenses per boe, By Country/Region, US$/boe, 2011-2015 47 Figure 43: Oil Search Limited, Lifting Cost per boe, By Country/Region, US$/boe, 2011-2015 47 Figure 44: Oil Search Limited, Oil & Gas Revenue per boe, By Country/Region, US$/boe, 2011-2015 48 Figure 45: Oil Search Limited, Total DD&A per boe, By Country/Region, US$/boe, 2011-2015 48 Figure 46: Oil Search Limited, Total Revenue per boe, By Country/Region, US$/boe, 2011-2015 49 Figure 47: Oil Search Limited, Oil and Gas Performance Metrics, 2011-2015 50