2018 Capital Program We estimate we will spend approximately $300 million of capital, net of carry amounts related to the Mauritania and Senegal transactions with BP, for the year ending December 31, 2018. This capital expenditure budget consists of: • approximately $110 million for developmental related expenditures offshore Ghana, largely focused on additional drilling in the Jubilee and TEN fields; • approximately $50 million for exploration and appraisal activities, including drilling two exploration wells in Suriname; • approximately $80 million related to seismic acquisition and processing across our portfolio to mature drilling opportunities; • approximately $50 million for new ventures; and • approximately $10 million related to corporate and other capital expenditures. The ultimate amount of capital we will spend may fluctuate materially based on market conditions and the success of our drilling results among other factors. Our future financial condition and liquidity will be impacted by, among other factors, our level of production of oil and the prices we receive from the sale of oil, our ability to effectively hedge future production volumes, the success of our exploration and appraisal drilling program, the number of commercially viable oil and natural gas discoveries made and the quantities of oil and natural gas discovered, the speed with which we can bring such discoveries to production, our partners’ alignment with respect to capital plans, and the actual cost of exploration, appraisal and development of our oil and natural gas assets, and coverage of any claims under our insurance policies. Significant Sources of Capital Facility As of December 31, 2017, borrowings under the Facility totaled $800.0 million including $200 million drawn for the KTIPI investment, and the undrawn availability under the Facility was $500.8 million. In February 2018, the Company amended and restated the Facility with a total commitment of $1.5 billion from a number of financial institutions with additional commitments up to $0.5 billion being available if the existing financial institutions increase their commitments or if commitments from new financial institutions are added. The Facility supports our oil and gas exploration, appraisal and development programs and corporate activities. As part of the debt refinancing in February 2018, the repayment of borrowings under the existing facility attributable to financial institutions that did not participate in the amended Facility was accounted for as an extinguishment of debt, and $5.7 million of existing unamortized debt issuance costs attributable to those participants were expensed in the first quarter of 2018. As of December 31, 2017, we have $23.6 million of unamortized issuance costs related to the Facility, which will be amortized over the remaining term of the Facility, excluding the $5.7 million expensed in the first quarter of 2018. As part of the amendment and restatement process, the lenders approved a redetermination, setting the borrowing base under our Facility at $1.5 billion (effective February 22, 2018). The borrowing base calculation includes value related to the Jubilee, TEN, Ceiba and Okume fields. The following amendments to the terms of the existing facility, subject to certain conditions and exceptions, include without limitation: • the extension of the maturity date to March 31, 2025 (unless otherwise terminated pursuant to the amended and restated Facility); • the extension of the amortization schedule such that amortization of principal is to commence in March 31, 2022 and continue in equal amounts every six months thereafter until the maturity date; 92