Results of Operations from Oil and Gas Producing Activities

Years ended December 31 North America2 Southeast Asia5
(millions of C$) Canada US UK3 Scandinavia4 Indonesia Other SEA Other6 Total
2010
Net oil and gas revenue derived from proved reserves1 1,409 313 2,232 1,393 878 643 200 7,068
Less: Production costs 433 61 817 304 130 158 27 1,930
Transportation 50 11 34 64 61 – 7 227
Exploration and dry hole expense 34 2 78 43 57 92 201 507
Depreciation, depletion and amortization 615 223 581 537 59 256 28 2,299
Tax expense 71 6 406 347 271 102 17 1,220
Results of operations 206 10 316 98 300 35 (80) 885
2009                  
Net oil and gas revenue derived from proved reserves1 1,667 126 2,183 986 700 620 265 6,547
Less: Production costs 555 30 872 285 104 151 48 2,045
  Transportation 55 4 46 54 55 – 8 222
  Exploration and dry hole expense 222 53 48 92 26 302 142 885
  Depreciation, depletion and amortization 894 151 837 411 51 331 48 2,723
  Tax expense (recovery) (15) (43) 255 112 219 – 33 561
Results of operations (44) (69) 125 32 245 (164) (14) 111
    North America2 UK3 Scandinavia4 Southeast Asia5 Other6 Total
2008                
Net oil and gas revenue derived from proved reserves1 3,272 3,548 1,235   1,413 418 9,886
Less: Production costs 594 1,009 280   195 34 2,112
  Transportation 68 52 35   48 9 212
  Exploration and dry hole expense 444 148 141   87 117 937
  Depreciation, depletion and amortization 1,079 1,150 477   251 61 3,018
  Tax expense 270 658 224   392 115 1,659
Results of operations 817 531 78   440 82 1,948
  1. Net oil and gas revenue derived from proved reserves is net of applicable royalties.
  2. North America includes operations in Canada and the US.
  3. UK includes operations in the UK and the Netherlands (until the sale of the Netherlands assets in 2009).
  4. Scandinavia includes operations in Norway and Denmark (until the sale of the Danish assets in 2008).
  5. Southeast Asia includes operations in Indonesia, Malaysia, Vietnam, Australia and Papua New Guinea.
  6. Prior to 2010, Other includes North Africa (Algeria and Tunisia) and Trinidad and Tobago (until the sale of Trinidad and Tobago assets in 2009) as well as other international areas. In 2010, Other includes Algeria and Tunisia (until the sale of the Tunisia assets in 2010).