Real Executive Presentations

Exploration Opportunities
Dr. Chris McKeown

GM South East Asia
SEAPEX 2015
NZOG snapshot
Corporate
ASX and NZX Listed E&P company

Market cap
~US$ 142 million *
Cash
~US$ 22 million *
Annual revenues ~US$ 70 million
Clear Strategy
Enduring New Zealand explorer
Balanced portfolio
Multiple pathways to growth
* Feb 2015
SEAPEX 2015
NZOG key assets

Production
Offshore Taranaki NZ (NZOG influential in discoveries)
15% of Kupe gas & oil field

27.5 % of Tui area oil fields
NZOG 2P reserves of ~9.7 mmboe
Indonesia
Development under review in Sumatra : including unconventional
Exploration
NZ exploration permits with identified drilling targets
PSC and exploration opportunities in Indonesia
Financial, Technical and Operator Capability
Significant cash holdings
Experienced technical/commercial teams
Partner of choice in E&P activities
Kaheru Farmin
Opportunity
Clipper Permit
(Barque Prospect)
SEAPEX 2015
Current opportunities
PEP 52181 (Kaheru)
PEP 52717 (Clipper)
Why are we exploring

in New Zealand?
4th largest EEZ-ECS in the world, with a
maritime jurisdiction ~22x land area
Production to date: >1.3 Bboe (~30% liquids)
Current rate: >40,000 bpd + ~0.5 Bcfpd
Under-explored region
Producing Taranaki Basin
Frontier basins (with discoveries) now being
intensively explored by:
Shell
Anadarko
Woodside
Chevron
ONGC
Statoil
OMV
Mitsui
CNOOC
Exceptional terms
Tax & royalty (marginal government take 43%)
Welcoming and stable regulatory system
Unrivalled access to data
SEAPEX 2015
Current opportunities
New Zealand
PEP 52181 (Kaheru)
PEP 52717 (Clipper)
Indonesia
Bohorok PSC
PEP 52181 (Kaheru)

Drill Ready
Proven Oil Play
3D-Defined
Shallow Water
Quick Connect Potential
Resource Target ~50 mmbo
Low-Moderate Risk
Kaheru Permit (PEP 52181)
312 km2 permit in the south Taranaki Basin

NZOG 35% (Operator) TAG 40%; Beach 25%
Permit granted May 2010, expires 2022
Drill by May 2016
Kaheru is a drill-ready thrust-related anticline

Analogous to other Taranaki Fault fields
On trend with oil & gas fields (Rimu, Kauri, etc)
and east of the Kupe oil/gas field
Close to shore (~12 km) in shallow water (~25 m)
Well permitting and planning completed
Close to existing infrastructure with export facilities

with quick connect development options
Opportunity to farmin through funding share of

drilling costs (planned for mid-late 2015)
25% participation available
Flexible deal terms
Joint farm out with TAG Oil
SEAPEX 2015
Petroleum System Overview

Primary reservoir is the
Tariki Sandstone
Deposited in a submarine fan
depositional environment
Expected to be near shore
facies at Kaheru
Secondary reservoir is the

Kauri Sandstone
Likely deposited in a shoreface
environment
Intra-formational and top

Seals provided by the Otaraoa
Fm (marine mudstone) and
Manganui Fm (massive bathyal
mudstones
Source rocks are found in

Late Cretaceous early
Paleogene terrestrial and
marginal marine clastics.
SEAPEX 2015
Kaheru Prospect (PEP 52181)
Oligocene Depth Structure
Proven Play Trend

Offset by producing fields
UUR ~450 mmboe
Multiple successful reservoir targets
Paleogene & Mesozoic source rocks
Kaheru Prospect
4-way dip closure, de-risked following;
Improved 3D RTM imaging

Revised mapping
Structural modelling
Sedimentological studies
CI 100m
Targets
Oligocene (Tariki)
Pre-Oligocene (North Cape etc.)
Miocene (Kauri) reservoir
Resource Potential (oil case)

Primary Objective(s)
PMean ~50 mmbo + 70 BCF
All Objectives
PMean ~75 mmbo + 100 BCF
SEAPEX 2015
10
Kaheru-1 Planning (PEP 52181)

Planned TD Cretaceous (4400m TVDss)
Kaheru-1 Well Plan (Water Depth 25m)
Planned duration 49 days

Side-track plan to appraise discovery
Expected dry hole cost $35 - 45 million*
All consents to drill

Well and casing design
All long lead items
Seafloor site survey
Well control emergency plan

Geomechanical modelling
VSP modelling
* Including mob-demob
SEAPEX 2015
11
Kaheru Development (PEP 52181)
Scoping development scenarios

developed for oil and gas cases for new
build facilities;
offshore wellhead platform

4 offshore horizontal wells
2 pipelines
onshore production station
Onshore
production
station
Kaheru
Field
12km
25m
OIL CASE
similar to nearby Kupe field (NZOG 15%)
GAS CASE
similar to N. Taranaki Pohokura field
First oil/gas by 2019
Potential to connect to existing facilities

(production station/tank farms and
pipelines) offer faster (and lower cost via
tolling agreement) development options
Rimu onshore oil

processing plant
Kupe Field
(NZOG 15%)
SEAPEX 2015
12
Kaheru Farmout Process

Interested parties will be required to execute a CA
prior to receiving detailed technical information
Online Dataroom available
Now
Physical Dataroom available
Now
Full Kingdom projects supplied to qualified parties
Offers open to consideration on first-come basis
SEAPEX 2015
13
PEP 52717 (Barque Prospect)

High impact, frontier opening opportunity
Offset by gas-condensate discovery
Resource potential for LNG project
Moderate water depth (800m)
Follow-on potential
Favourable met-ocean conditions
NZOG Strategic position in Canterbury / GSB

PEP 52717
NZOG 50% (Operator)
Beach 50%
Covers large Barque Prospect
3D survey completed 2014
Planning Barque-1 well 2016-7
Anadarko JV
PEP 55792
NZOG 100% (Operator)
Includes Galleon discovery
Seismic completed 2014
Drilled Caravel-1 in 2014

Anadarko JV extended
permit and now acquiring
further 2 x large 3D surveys
Shell JVs
Working up 3D (4800km2)
Drilling decision made
-5
PEP 55794 (NZOG 30%)

Woodside 70% (Operator)
Covers multiple large leads
3D survey 1H2015
SEAPEX 2015
15
Clipper Permit (PEP 52717)
3,423 km2 permit in the Canterbury Basin
NZOG 50% (Operator) & Beach 50%

Permit granted October 2012
Commitments (3D) fulfilled to mid-2016
Water Depth 100-1200m
Barque Prospect ~800m

Favourable met-ocean conditions
Proven petroleum system at play level
Data in house
Gas-condensate
discovery (RFT)
Reservoir, source/charge and seal all present and

working (as demonstrated by Galleon discovery)
Excellent quality, interpretation, seismic inversion

& QI underway
Joint farmout with Beach
Commencing 2H 2015
Barque-1 well planned for 2016-7
DST 2240 bcpd

& >10mmcfpd
Well will satisfy subsequent licence period

obligations
SEAPEX 2015
16
Petroleum System Overview
Key intervals are the Herbert Formation sourced by the

Pukeiwitahi Coal measures
The late Paleocene Tartan Low Stand Wedge, possibly
sourced by the Tartan Formation is also a viable lead
SEAPEX 2015
17
Barque Prospect (PEP 52717)

Offset by Galleon gas-cond discovery
Proven hydrocarbon generative basin
Galleon CGR >210 bbl/MMcf
Barque located in middle of kitchen, with ideal
migration focus
Barque Prospect
150 km2 domal closure, de-risked following;
650 km2 3D survey (recorded 2014) to select
well location
Regional 2014 detailed petroleum system
evaluation and modelling
Integrated prospect evaluation
(under finalisation)
Targets
Latest Cretaceous and Early Paleogene sands
Tested gas-condensate at Galleon & Clipper
Material Resource Potential

Multi TCF rich gas with multiple development
options
Condensate stripping (hundreds mmbbl )
Potentially oil
2014 PSDM 3D
BARQUE PROSPECT
150km2 closure
Column height : 400m
Porosity > 20%, perm >50mD
N:G reservoir sands >80%
SEAPEX 2015
18
2015 Block Offer Opportunity

NZOG is keen to talk to
companies interested
in bidding in the 2015
block offer round in
New Zealand
Kaheru Farmin
Opportunity
Bid deadline ~
September 2015
Blocks awarded from
December 2015 (effective
date April 2016)
Clipper Permit
(Barque Prospect)
SEAPEX 2015
19
Opportunities
Bohorok, Sumatra, Indonesia
INDONESIA BOHOROK PSC

FARM IN OPPORTUNITY
Contract Area in prolific North
Sumatra Basin
BOHOROK KISARAN
PSC
PSC
Under-explored, on trend with

producing fields, adjacent
infrastructure
Low Risk, drill ready prospect,
good follow-up potential
Permit in good standing, total

area 5,021 sq km
MAHATO PSC
Excellent PSC terms (35%

contractor atax oil, 40% atax
gas)
Up to 25% equity available in
return for a promoted carry on
future drilling
Dataroom open now
Bukit Energy Bohorok Pte. Ltd. (Operator) 45%; NZOG Bohorok Pty. Ltd. 45%;
SBL Bohorok Inc. 10%
SEAPEX 2015
20
BUKIT KAYA PROSPECT

Bukit Kaya drill ready prospect
PRODUCING FIELD
FOLLOW-UP PROSPECTS
BUKIT KAYA WELL
Step-out drilling target with resource

potential of 41 BCFG + 3 MMBC
2014 seismic acquisition confirmed

prospect integrity, POS of 57%
On trend with producing gas field
Two recent adjacent discoveries,

Pertamina acquiring 3D
Local infrastructure enables rapid

production tie-in into nearby high
demand markets
Late 2015/early 2016 spud, first

production 2016 via phased develop
PRODUCING FIELD
PRODUCING FIELD
> 113 mmboe follow up prospective

resource potential (Pm)
Contacts:
Gordon Begg, Managing Director, Bukit Energy Bohorok Pte. Ltd, gbegg@bukitenergy.com
John Crane, Senior Exploration Manager, Bukit Energy Bohorok Pte. Ltd, jcrane@bukitenergy.com
SEAPEX 2015
21
Opportunities
Kaheru Farmout available now
Bohorok Farmout available now
Barque Participation available 2Q2015
Want to know more?

Come and talk
to us booth 5
NEW ZEALAND OIL AND GAS

Chris McKeown
GM South East Asia
chris.mckeown@nzog.com
D: +64 4 495 2410
M: +64 21 344 953
Dr Mac Beggs
Geoscience Advisor - Commercial
mac.beggs@nzog.com
D: +64 4 471 8332
M: +64 27 454 6686
Level 20, 125 The Terrace, Wellington 6143, New Zealand

Tel: +64 4 495 2424 Fax: +64 4 495 2422
www.nzog.com
SEAPEX 2015
24
Disclaimer
New Zealand Oil & Gas Limited has prepared this presentation to provide information about certain of the companys
projects.
This presentation contains interpretations and forward looking statements that are subject to risk factors associated with
the oil and gas industry.
It is believed that the expectations reflected in the presentation are reasonable but may be affected by a variety of
variables and changes in underlying assumptions which could cause actual results to differ substantially from the
statements made. This includes but is not limited to: production fluctuations, commodity price fluctuations, variations to
drilling, well testing and production results, reserve estimates, loss of market, industry competition, environmental risk,
physical risks, legislation, loss of mineral lease tenure, fiscal and regulatory developments, economic and financial market
conditions, project delay or advancement, approvals and cost estimates.
The company accepts no responsibility or liability for the public's subsequent use or misuse of the information provided.
The Company and its Directors, agents, officers or employees do not make any representation or warranty, express or
implied, as to endorsement of the accuracy or completeness of any information, statement representations or forecasts
contained in this presentation and they do not accept any liability for any statement made in, or omitted from, this
presentation.
The information presented here does not, in any way, constitute investment advice. It is of a general nature and includes
forecasts and estimates based on current knowledge. It is possible that changes in circumstances after the date of
publication may impact on the accuracy of the information.
New Zealand Oil & Gas Limited strongly advises you to seek independent professional advice before making any
investment decisions.
SEAPEX 2015
25
Chris McKeown
GM South East Asia
chris.mckeown@nzog.com
D: +64 4 495 2410
M: +64 21 344 953
Dr Mac Beggs
Geoscience Advisor Commercial
mac.beggs@nzog.com
D: +64 4 471 8332
M: +64 27 454 6686
New Zealand Oil & Gas, Level 20, 125 The Terrace, Wellington 6143, New Zealand
Tel: +64 4 495 2424 Fax: +64 4 495 2422
www.nzog.com
SEAPEX 2015
26
Todd Energy
Exploration and Near-Field
Opportunities in Taranaki,
New Zealand
SEAPEX Farm-out Forum
16 April 2015
Farm-in Highlights
Opportunity to partner with NZs largest domestic oil &

gas company Todd Energy:
Interests in 6 producing fields that account for
~80% of NZs annual HC production and 7
exploration permits.
Produces ~35% of NZ gas and ~25% of NZ oil
and condensate
Todd Energy is offering:
Access to multi-play prospect & lead portfolio in

NZs only hydrocarbon producing basin - Taranaki
Opportunities available range from:
drill-ready to prospect maturation

onshore to offshore, and
wildcat to near-field
Focus on high-potential play fairways is expected

to open new exploration trends
Portfolio summary
Farm-out portfolio provides play-type variety,

materiality and running room.
PEP 51149 (Te Kiri) Onshore West Taranaki

Covers most prospective part of the underexplored
western Taranaki peninsula. Drilling of the Eocene Te
Kiri North gas/condensate and Miocene Arawhata oil
prospects scheduled for late 2015.
PEP 53374 (Opunake) Offshore Central

Taranaki Adjacent to largest producing field Maui.
Permit is multi-play with Eocene and Neogene
prospects under going maturation with new 3D.
PEP 54865 (Aihe) Offshore South Taranaki

3D seismic planned for Q1 2016 to mature two
significant Paleocene oil structures - Aihe and Paikea.
Taranaki Basin stratigraphic framework

Miocene to Recent plate boundary
volcanism & inversion folding;
continental margin shelf progradation
Neogene passive margin marine

reservoirs & seals
Development of Taranaki boundary
fault & foreland basin
Upper Cretaceous - Palaeogene

source rocks, reservoirs & seals
Late Cretaceous Gondwana break-up
sub-basin formation
Todds farm-in prospects span the full prospective stratigraphic section.
PEP 51149: Onshore Taranaki

Todd Operator 80%, Cue Energy 20%
Permit covers 2 high value play fairways in core

Taranaki Peninsula
1.
2.
G-C Kapuni Gp structural play encompassing

key producing fields in onshore-nearshore
region (Pohokura, Mangahewa, Kapuni).
Miocene oil play. Numerous fields
Numerous discoveries on eastern side of the

Peninsula. Western area remains underexplored.
3D acquisition and subsequent PSDM has led to

recognition of material potential at several levels Miocene (Mt Messenger & Moki Fms), and
Eocene (Mangahewa and Kaimiro Fms).
POHOKURA
Drill-ready prospects - Te Kiri North and Arawhata.
MANGAHEWA
McKEE
KAIMIRO
Mt Taranaki
Te Kiri North
Arawhata
WAIHAPA
KAPUNI
Prospect: Te Kiri North (Eocene)
SE A
A NW
Trap: Rotated fault block at edge of Pleistocene collapse
graben
Reservoir: Eocene marginal marine shoreface sands
(Mangahewa & Kaimiro FM).
Seal: Turi Shale
Charge: Good access to source kitchen (U Cretaceous
coals & mudstones)
Producing Fields:
Offshore: Maui and Pohokura
Onshore: Mangahewa, Kowhai and Turangi
Te Kiri North
2km
Pohokura
Te Kiri North
A
Maui
Upper Mangahewa Fm Depositional Environnent
Prospect: Arawhata (Miocene)
Onshore Miocene oil play - many discoveries east of Mt

Taranaki (Cheal, Copper Moki, Kaimiro-Ngatoro &
Sidewinder fields).
Trap: Fault bounded 3-way dip structure with AVO support
+ large stratigraphic component.
Reservoir: Mt Messenger and Moki Fms.
Seal: Lower Urenui and Manganui mudstones.
Charge: Fault access from Cretaceous coal measures.
Further potential: Strat component to Arawhata and
Arawhata East.
Kaimiro Field Mt Messenger Class 3 AVO
Te Kiri North-1 Drilling

Te Kiri North-1
Todd will drill Te Kiri North-1 to test Eocene g-c and

Miocene oil prospectivity Q4 2015.
Well Planning Status
Well design and site construction complete

Long Leads purchased
Lease agreement + environmental consents in-place
Spud Q4 2015 with Todds Big Ben rig
Well cost (DHC) ~NZ$24 mm
Opportunity to participate in whole or part of well

on reasonable terms.
Te Kiri North-1 well site
Te Kiri North-1
PEP 53374: Offshore Central Taranaki

Todd 100%
Substantial equity available in near-field opportunity.
Multi-play; 6 identified prospects/leads provide:
Exploration/play type variety

Substantial running room
Most within 15km of Maui, Taranakis largest field
On trend with nearby 2015 oil discovery at Ruru
Vulcan: Considered the primary prospect:

Miocene (Moki) turbidite sands cut by submarine
channel complexes
A 220 km2 3D seismic survey (Trestles) was acquired

March 2015 to further mature the southern area portfolio.
Merging with the Maui, Tui and Opunake 3D surveys
underway.
Prospect: Vulcan
Prospect Vulcan
Trap: Combination structural/stratigraphic trap on footwall

of Cape Egmont Fault Zone (CEFZ)
Reservoir: Quality, Miocene Moki marine sands
Seal: Shale filled channels and fault seal against CEFZ
Charge: Direct access to East Maui kitchen
Fluid Type: Maui has produced oil and gas prolifically

over the last 36 years. Gas shows and fluorescence in
multiple wells in Moki. Oil discovery at Ruru in Moki sands.
AVO analysis indicates oil and gas at Vulcan
Resource potential: up to 330 MMbbls OIIP in a
single 25m sand
B
Vulcan
Analogue:
Shwe Field (~7.7 Tcf) in Bay of Bengal

exhibits similar trapping mechanism and amplitude
response.
Analogue Shwe Field
Additional Prospectivity
Top Paleocene
Top Cretaceous
Basement
Vampire: Moki amplitude play similar to Vulcan

Maui NE: Large Kapuni Gp (Eocene) structuralstratigraphic feature with strong amplitude support
Opunake: Tilted fault blocks on down-thrown side of
Cape Egmont Fault Zone (CEFZ)
Opunake North: Structural closure of Palaeogene
sandstones associated with fault terrace of CEFZ
Witiora North: Late Cret. to Palaeocene Basement drape
2km
Opunake Nth
PEP 53374
MAUI NE
Amplitude extraction Moki A sand
Maui
MAUI
PEP 54865: Offshore South Taranaki

Todd (Operator) 80%, Cue 20%
Prospective oil fairway west of Maari & Manaia

oil fields and on trend from the prolific Tui oil field
70 km to the NE
Committed 3D seismic survey to be acquired Q1

2016 with optional well to be drilled by Dec 2017
Todd seeking promote on 3D survey
Aihe located in south of large permit with other

identified structures
Prospects: Aihe and Paikea

Western Taranaki kitchen areas and migration
Structure: Aihe and Paikea - rotated basement rift block

(Aihe) and basement cored horst block (Paikea) with
onlapping and draped late Cretaceous and Palaeogene
sediments.
Reservoir: Palaeocene shoreface F Sand and North
Cape estuarine-tidal channel sands
Seal: Cretaceous and Palaeogene mudstones.
Charge: Access to oil charge from Cretaceous coals in
southern Kahurangi Trough. Paikea favourable located.
Resource: MSV 54 MMbbls (Aihe); 32 MMbbl in the
Farewell Fm and 28 MMbbl
Base Palaeocene Depth Structure
Potential Farm-in Portfolio drill-out

2015
5-6 WELL WILDCAT

and NEAR FIELD
PROGRAMME
Prospect
Farmout
Interest
available
Mean success
volume
recoverable
PoSg
Current
Status
2016
Te Kiri North
Arawhata
Vulcan
2017
Aihe
Paikea
2018
2019
Opunake Nth
Witiora Nth
Maui NE
Te Kiri
North
Arawhata
Vulcan
Opunake
Nth
Aihe
Paikea
Maui NE Ext
Vampire
Witiora
North
30%
30%
50%
50%
50%
50%
50%
50%
14 MMboe
3 MMbbls
~80 MMbbls
57 MMboe
54 MMbbls
32 MMbbls
n/a
n/a
22
20
23
n/a
23
n/a
n/a
n/a
Drilling
late 2015
Drilling
late 2015
Prospect
maturation
with
Trestles 3D
Prospect
maturation
with
Trestles 3D
3D
seismic
Q1 2016
3D
seismic
Q1 2016
Prospect
maturation
with
Trestles 3D
Prospect
maturation
Onshore
Oil
Offshore
Gas-Cond
For more information please see us in the Farm-out Forum area

Mark Blood Exploration Manager
Stephen Greaves Senior Geophysicist
ASX: CVN
Think Different;
Act Different
Cerberus blocks jack up territory

oil prospects inboard Carnarvon
Basin, NW Shelf
April 2015
Disclaimer
The information in this document, that relates to oil exploration results and reserves, is based on information compiled by the Companys Chief Operating Officer, Mr Philip Huizenga, who is a full-time
employee of the Company. Mr Huizenga consents to the inclusion of the reserves and resource statements in the form and context in which they appear.
This presentation contains forward looking statements which involve subjective judgment and analysis and are subject to significant uncertainties, risks and contingencies including those risk factors
associated with the oil and gas industry, many of which are outside the control of and may be unknown to Carnarvon Petroleum Limited.
No representation, warranty or assurance, express or implied, is given or made in relation to any forward looking statement. In particular no representation, warranty or assumption, express or implied, is
given in relation to any underlying assumption or that any forward looking statement will be achieved. Actual and future events may vary materially from the forward looking statements and the assumptions
on which the forward looking statements were based.
Given these uncertainties, readers are cautioned not to place undue reliance on such forward looking statements, and should rely on their own independent enquiries, investigations and advice regarding
information contained in this presentation. Any reliance by a reader on the information contained in this presentation is wholly at the readers own risk.
Carnarvon and its related bodies corporate and affiliates and their respective directors, partners, employees, agents and advisors disclaim any liability for any direct, indirect or consequential loss or damages
suffered by a person or persons as a result of relying on any statement in, or omission from, this presentation.
Subject to any continuing obligations under applicable law or any relevant listing rules of the ASX, Carnarvon disclaims any obligation or undertaking to disseminate any updates or revisions to any forward
looking statements in this presentation to reflect any change in expectations in relation to any forward looking statements or any such change in events, conditions or circumstances on which any such
statements were based.
Nothing contained in this document constitutes investment, legal, tax or other advice. This document, and the information contained within it, does not take into account the investment objectives, financial
situation or particular needs of any recipient. Before making an investment decision, you should consider seeking independent professional advice before seeking to take any action based on the information
contained in this document.
This presentation has been prepared by Carnarvon. No party other than Carnarvon has authorised or caused the issue of this document, or takes responsibility for, or makes any statements, representations
or undertakings in this presentation.
Carnarvons position in the North West Shelf
Area held ~25,000km

8 Blocks, material equities
Oil and Gas Plays
Substantial 3D coverage
Shallow Water Depth
Line of Sight to
Commercialisation
Carnarvon is a capable partner exploring inboard oil and gas plays of the NW Shelf
Executive Summary: Cerberus Blocks

Prize
383 mmboe recoverable prospective Pmean

in 3 drillable prospects
Indicative NPV10 after tax of $5 billion gross
5 additional leads identified
Cerberus : 3 Blocks
Carnarvon hold 100%
Minimal work commitments
8 prospects
<50m Water depth
<2000m Target Depths
Commitments
Awarded 28th May 2014

Year 1 repro 900 km 3D
Year 4 well
Farmin to drill 3 wells
1 Lower Triassic well (Honeybadger)

1 Upper Permian well (Belfon)
1 Jurassic well (Rudder)
Belfon
Honeybadger
Rudder
Investment
1s
$1 million back costs

3 x $10-20 million of drilling costs
to earn Equity in the three blocks (3200 km)
4s
Base Triassic TWT
Total Unrisked Mean Recoverable prospective in 8

leads/prospects within Acreage = 933 mmstboe
DUG Monodon
Mega
Merge 3D
Data coverage and Work Program
TP 27
Partial 3D coverage
15 Wells within the Blocks
EP 490
Work Program
Award date: 28th May 2014
Currently in permit year one
Year 1 commitments have been fulfilled
Minor forward commitments until PY4 commencing

May 2017
?
Actual well costs about $15,000,000
EP 491
EP 475
TP 27 & EP 490
PY
1
Minimum Work
500 km2 Reprocessing
Begins
May 2014
Mapping & Interpretation
EP 491
Est Cost
PY
$500,000
Minimum Work
400 km2 Reprocessing
Begins
Est Cost
May 2014
$400,000
Mapping & Interpretation
$200,000
$200,000
G & G Studies
May 2015
$100,000
G & G Studies
May 2015
$100,000
Environmental Studies
May 2016
$200,000
Environmental Studies
May 2016
$200,000
Engineering Studies
$200,000
Engineering Studies
$200,000
One Well
May 2017
$6,000,000
One Well
May 2017
$6,000,000
Geoscientific Studies
May 2018
$200,000
Geoscientific Studies
May 2018
$200,000
One Well
May 2019
$6,000,000
One Well
May 2019
$6,000,000
Cerberus Structural Schematic

A
Upper
Jurassic
turbidite fan
traps
Locker
submarine
channel traps
A
A
Interpreted
Horizons
Permian
Upper
Permian
structural
closures
Cerberus Leads/Prospects
Westy
Belfon
Honeybadger
Rudder
Kybra East
EP 475
Base Triassic TWT
Permo-Triassic Play
Regional Understanding:
Well known Play in Perth Basin

Recent Triassic Oil Discovery in Bedout Sub-basin, Phoenix South 1
Under-explored play:
6 wells drill to Base Triassic in greater Cerberus area between 19671988, 3 with oil filled fluid inclusions;
Source/Maturation: Hovea member equivalent
Sapropelic interval- 100-200m, 1-3% TOC observed at earliest Triassic
Time equivalent to successful sources in the Perth.
Phoenix South
Reservoir/Trap:
Permian: Kennedy Group- marine shore face deposits

Triassic: Locker Slope Turbidites
Permian Structural
traps
Triassic Stratigraphic
traps
A
Chrono Stratigraphy of the Candace Terrace, Early to Middle Triassic
Mungaroo
Locker Shale
Permian Lyons Group Tillite

Carboniferous Tight Carbonate
Basement
Late T. Playfordii Slope Channel Systems

Isopach: Top Locker-Triassic Erosive Channel Pick
Amplitude Extraction: Between Top Locker and Erosive Channel,

with Isopach Contours
Isopach: Top Locker-Triassic Erosive

channel pick
Honeybadger
Channel
Honeybadg
complex
er Channel
complex
Kybra 1
Kybra
Kybra
Channel
Channel
complex
complex
Honeybadger
A
Middle slope channel, filled with high net to gross

turbidite sands
Late T. Playfordii aged Canyons cut into Hovea
Member Source
High amplitudes calibrated to sands in Kybra 1 well
P90: 5km2 4 way dip closure gives a structural
element to the trap
P10 Area: 44km2
High chance of stacked pay
Depth to crest: 1950m (DUG Monodon VelMod)
Risks: Trap, Stratigraphic nature
P50 Recoverable : 120 mmbbl
STRUCTUR
AL
CLOSURE
with 4way
Kybra 1: Locker Channel Sands
Upper Sediment Flow
EP 475
At Kybra 1 Locker high
amplitudes correspond to sand
in mudlog and cuttings
descriptions
Bitumen seen at the top Locker
Shale
Kybra 1
FFA
Geoteric
Kybra 1
Kybra 1 GR
Locker
Sand
High
Amplitudes
Related to
40metres of
sands in
Kybra 1
Base
Triassic
Limestone
Permian Structural Prospects

Belfon
Tilted Fault block Structure
Permian Kennedy reservoir sealed by Locker
shale
Basin Modelling supports the likeliness of charge
Partially covered by 3D
Crest at 1700m
Risks include charge and fault seal
P50 Recoverable= 58mmbbl
Westy
Half Graben fault dependant roll

over structure with many internal
dipping surfaces
50 km2 closure at Base Triassic

Level , with a crest at 1270m
Juxtaposed against Basement

across southern bounding fault
Critical Risk is Charge, possible

Silurian Source?
No 3D coverage
P50 Recoverable= 178 mmbbl
Belfon
Westy
Base Triassic TWT
2D Arb line
Volumes
Belfon
Westy
Jurassic Play
Rudder
Multiple Low Risk Late Jurassic Prospects

Stratigraphic slope deposits
Biggada and Dupuy Reservoirs sealed by Athol/Calypso/Dingo combinations
Rudder
Reservoir: Biggada high amplitude slope turbidite deposits, similar to Linda
Discovery
Top Seal: Dingo Claystone which also is the source rock
Base Seal: Jurassic Athol Formation
Trap: Stratigraphic pinch out onto the JO, and erosive top unconformity
P50 Recoverable = 37mmbbl
Judy 1
Amplitude Map with Top Reservoir Contours
Rudder
Rudder
Athol
6.8km2
Executive Summary: Cerberus Blocks

Prize
383 mmboe recoverable prospective Pmean

in 3 drillable prospects
Indicative NPV10 after tax of $5 billion gross
5 additional leads identified
Cerberus : 3 Blocks
Carnarvon hold 100%
Minimal work commitments
8 prospects
<50m Water depth
<2000m Target Depths
Commitments
Awarded 28th May 2014

Year 1 repro 900 km 3D
Year 4 well
Farmin to drill 3 wells
1 Lower Triassic well (Honeybadger)

1 Upper Permian well (Belfon)
1 Jurassic well (Rudder)
Belfon
Honeybadger
Rudder
Investment
1s
$1 million back costs

3 x $10-20 million of drilling costs
to earn Equity in the three blocks (3200 km)
4s
Base Triassic TWT
Total Unrisked Mean Recoverable prospective in 8

leads/prospects within Acreage = 933 mmstboe
A New Approach to Asian Energy
INDONESIAN SOUTH BLOCK A PSC AND

SUMATRAN UNCONVENTIONAL OPPORTUNITIES
Kim Morrison
CEO
Seapex Farmout Forum 2015
Important notice and disclaimer

Forward-looking statements
Certain statements contained in this presentation, including information as to the future financial or operating performance of Lion and its projects are
forward-looking statements. Such forward-looking statements:
should or can generally be identified by the use of forward looking words such as anticipate, believe, expect, forecast, estimate, will,
could, may, target, plan and other similar expressions within the meaning of securities laws of applicable jurisdictions, and include earnings
guidance and statements of intention about future matters and the outcome and effects of the equity raising. Indications of, and guidelines or
outlook on, future earnings, distributions or financial position or performance are also forward looking statements;
are based upon a number of assumptions and estimates that, while considered reasonable by Lion, are beyond the control of the Company has
they are inherently subject to significant technical, business, economic, competitive, political and social uncertainties and contingencies;
involve known and unknown risks and uncertainties that could cause actual events or results to differ materially from estimated or anticipated
events or results reflected in such forward-looking statements; and
may include, among other things, statements regarding targets, estimates and assumptions in respect of production, prices, operating costs,
results, capital expenditures, reserves and resources and anticipated flow rates and are or may be based on assumptions and estimates related to
future technical economic, market, political, social and other conditions.
This Document is provided to the recipient on the basis that the recipient understands and acknowledges that it may not rely in any way whatsoever on
the Document or other information. Unless legally required, the Company undertakes no obligation to update publicly any forward looking statements,
whether as a result of new information, future events or otherwise.
General Disclaimer
The Company has taken all reasonable care in producing the information contained in this document, however it does not guarantee the accuracy of
information or analysis provided. The Company will not be responsible for loss or damage arising from the use of this information. The contents of this
document should not be used as a substitute for detailed investigations or analysis and we strongly recommend you obtain independent professional
advice before making any investment decisions about the Company.
You may use the information for your own personal use or to inform others about our materials, but you may not reproduce or modify it without our
express permission.
www.lionenergy.com.au
April 2015
Important notice and disclaimer (cont.)

Reserves & Resources, 1 Jan 2015
(Recoverable, net to Lion)1
Gas/Associated Gas (BCF)
Oil/Condensate (MMbbl)
Reserves
1P
1P
2P
3P
0.119
0.173
0.241
2P
3P
Total Reserves (Seram)
Contingent Resources
Total Contingent Resources (Seram)
Prospective Resources
2
3
Prospective Resources-Seram
Prospective Resources-South Block A

Total Prospective Resources4
Method
Deterministic
1C
2C
3C
1C
2C
3C
0.357
0.678
1.399
0.040
0.084
0.990
Low
Best
High
Low
Best
High
0.2
0.6
2.1
0.1
0.5
1.5
Probabilistic
69.8
70.0
150.3
150.9
315.2
317.3
6.5
6.6
16.4
16.9
41.3
42.8
Probabilistic
Probabilistic
Deterministic
Reserves & Resources estimates

1. Hydrocarbon reserves and resource estimates are expressions of judgment based on knowledge, experience and industry practice. Estimates that
were valid when originally calculated may alter significantly when new information or techniques become available. In addition, by their very nature,
reserves and resource estimates are imprecise and depend to some extent on interpretations, which may prove to be inaccurate. As further
information becomes available through additional drilling and analysis, the estimates are likely to change. This may result in alterations to development
and production plans which may in turn, adversely affect the Companys operations.
2. Prospective resources: the estimated quantities of petroleum that may potentially be recovered by the application of a future development project(s)
relate to undiscovered accumulations. These estimates have both an associated risk of discovery and a risk of development. Further exploration
appraisal and evaluation is required to determine the existence of a significant quantity of potentially moveable hydrocarbons.
3. Seram prospective resources updated 6 November 2014 (Lion estimate on Lofin structure).
4. Aggregated by arithmetic summation The aggregate Low estimate may be a very conservative estimate and the aggregate High estimate may be a
very optimistic estimate due to the portfolio effects of arithmetic summation
Competent Persons Statement: Qualified Petroleum Reserves and Resources Evaluator
Pursuant to the requirements of the ASX Listing Rules Chapter 5, the technical information, reserve and resource reporting provided in this document
are based on and fairly represent information and supporting documentation that has been prepared and/or compiled by Mr Kim Morrison, Chief
Executive Officer of Lion Energy Limited. Mr Morrison holds a B.Sc. (Hons) in Geology and Geophysics from the University of Sydney and has over 28
years experience in exploration, appraisal and development of oil and gas resources - including evaluating petroleum reserves and resources. Mr
Morrison has reviewed the results, procedures and data contained in this website. Mr Morrison consents to the release of this report and to the
inclusion of the matters based on the information in the form and context in which it appears. Mr Morrison is a member of AAPG.
April 2015
COMPANY SNAPSHOT
Linked conventional/unconventional Indonesian strategy
Restructuring complete
Shares on issue: 96m
Market cap @15c: A$14.4 million
Cash: A$5.6mil (31/12/2014)
Revenue: ~A$2 million pa
Major shareholders:
Risco Energy Investments (54.7%)
Tower Energy (6.1%)
Management (14 %)
High-calibre team:
Proven Indonesian track record
Multi-skilled advisory panel
including North American
unconventional experts
Reserves & Resources

(Recoverable, net to Lion)
Reserves
Assets:
Seram PSC (2.5%) - production
South Block A (35%) - exploration
Two unconventional joint studies
Two unconventional JS applications
Gas/Associated Gas
(BCF)
1P
2P
3P
1C
2C
3C
Total Reserves (31/12/2014)

Contingent Resources
Oil/Condensate
(MMbbl)
1P
2P
3P
0.119
0.173
0.241
1C
2C
3C
0.357
0.678
1.399
0.040
0.084
0.990
Prospective Resources
Low
Best
High
Low
Best
High
Total Prospective Resources
70.0
150.9
317.3
6.6
16.9
42.8
Total Contingent Resources (31 /12/2014)
Prospective resources: the estimated quantities of petroleum that may potentially be recovered by the
application of a future development project(s) relate to undiscovered accumulations. These estimates have
both an associated risk of discovery and a risk of development. Further exploration appraisal and evaluation
is required
to determine the existence of a significant quantity of potentially moveable hydrocarbons.
April 2015
4
INDONESIAs INVESTMENT RATIONALE

A unique opportunity in SE Asia
Projected Indonesian oil and gas
supply/demand balance
Worlds fourth-largest population

(~250mm)
Fast-growing economy (GDP ~ 6%pa) with
oil and gas demand growing at > 5%pa
Declining conventional oil/gas supply,
Indonesia approaching net BOE imports
Mboe/d
6,000
Demand:
High-case
5,000
Mid-case
4,000
Low-case
Rising domestic gas prices (LNG pricing

link), US$8+/mmBtu
Regulatory changes promoting
unconventional oil/ gas investment with
competitive fiscal terms
Prolific basins
2.6
MMboe/d
3,000
2,000
Supply:
Undeveloped
1,000
Natuna D Alpha
Under Development
Producing
2000
2005
2010
2015
2020
2025
2030
Source: Rystad U-Cube, MEMR (2011), ASEAN Energy Outlook (2011), DEN
(2011), BCG analysis
April 2015
INDONESIAs PROLIFIC ONSHORE BASINS

5 basins in top 15 in region by discovered onshore conventional HCs
North & Central Sumatra highest hydrocarbon density (disc. HCs per km2)
Asia-Pacific top15 onshore basins, ranked by discovered hydrocarbons
Source: IHSE, various

April 2015
SOUTH BLOCK A PSC (Lion 35%)

Equity available, heartland position in prolific basin
Exciting, underexplored block
(1894km2), multiple plays
On trend with major fields, proven
petroleum systems
New pipeline through area:
Recent Block A gas contract - US$9.45/mmBtu
No wells in PSC since 1992, Matang-1

discovery nearby in 2013
183 km 2014 seismic program:
Paya Bili Prospect - low risk, shallow oil

Djerneh Prospect - company maker gas/cond
Priority rights for unconv. PSC

A
South Block A PSC

Djerneh
Simpang Deep (offset)
Paya Bili (offset)
Kuala Langsa Field
TWT (s)
0.0
0.5
1.0
Keutapang
Section
1.5
2.0
Top Baong
2.5
3.0
Top Peutu
2.5km
3.5
4.0
April 2015
SOUTH BLOCK A PSC PLAYS

Multiple plays, significant potential
Tight Baong
gas play
(BCG?)
Keutapang
Oil Play
Large
inversion gas
condensate
prospects
Peutu/Belumai
structural leads
April 2015
PAYA BILI PROSPECT

Shallow, low risk prospect on proven trend
Faulted wrench-related anticline, up to
2.5km2 closure
Updip to oil & gas shows Paya Bili A1, B1
Pre-war field produced ~200,000 bbl
from shallow sands
Near-term production potential
700m well to test structure
Top Baong
TWT Map
PB-B1
PB-A1
Objectives
Shallow Keutapang sands - unswept
oil &/or recharged oil
Deeper part of Keutapang not drilled
on crest due to pressure transition,
good sands in offset wells
April 2015
DJERNEH PROSPECT
New seismic has high-graded long recognised prospect with large upside
7.9 km2 4-way dip with up to 63 km2 sub

thrust closure
Analogue with PASE (240 bcf) and Matang
(100-400bcf) fields
Good quality marine source rocks
Well to ~2000m would test structure
Top Peutu
TWT Map
7.9 km2
Primary objective
Early Miocene Peutu carbonate and
Belumai sandstone
Secondary objective
Middle Miocene Baong sandstone
Bampo/Brukash sandstone
63 km2
April 2015
10
LION UNCONVENTIONAL FOCUS

Lion early mover position, potential partnering opportunity
Targeting basinal areas with
mature good quality source rocks
in North & Central Sumatra Basins
LNG import
terminal
Potential world-class shale and

tight gas/oil opportunities
Two joint studies recently
awarded (~7,200 km2)
Two JS applications being

progressed
Targeting 2 million net acres
Good terms (40-50% contractor
take)
Strategy to be in both
conventional & unconventional
exploration due to synergies
April 2015
11
INDONESIAN UNCONVENTIONAL PLAYS

Basins have a range of plays at a variety of maturity windows
Late post-rift
L.Mio - Recent
5
Key
Marine shales
Early post-rift
Early mid Miocene
Fluvio-Deltaic sst
High stand shales/carb
Carbonate
Tight sandstone
Synrift Mid Eocene

to Early Miocene
Lacustrine/restricted marine shales

Alluvial non marine sandstone
After Doust and Noble 2008
Organic rich lacustrine/

restricted marine shales
Condensed organic-rich, high

stands marine shales/carbonates
Tight, finely laminated

graben fill sandstone
Tight, finely laminated outer

shelf to turbidite sands
Tight, platform carbonates
September 2014
12
LIONs UNCONVENTIONAL TARGETS

Challenge to define sweet spots of potential plays
Properties
Rock Description
North Sumatra
Central Sumatra
Lower Baong
Belumai Formation
Bampo Shale
Marine shale with carbonate

lenses deposited during
global highstand event
Marine calcareous shale,

carbonate and sandstone
Restricted marine black

claystone, siltstone and
thinely bedded sandstone
Telisa Formation
Brown Shale/Kelesa
Marine brown to brownish Lacustrine black organic rich

gray shale and in fine
algal mudstone with
to medium grained sandstone
carbonate rich lenses,
and siltstone.
Intebedded immature
sandstones
Middle Miocene
Oligocene
Middle Miocene
Early Miocene
Late Oligocene
Outer shelf/Deepwater
Shelfal Marine
Restricted marine
Shelfal to deep marine
Lacustrine
100-600m
25-600m
20-200m
100-600m
20-600m
Kerogen Type
Type II/III
Type II/III
Type II/III
Type II/III
Type I
Recorded TOC
0.5-2.9%
0.5-3.4%
Generally 0.5-1.0
0.5-3%
2-23% mean of 3.7%
Mid Oil to Gas window
Late Oil to Gas window
Gas window
Early Oil
Peak Oil to Gas window
500-4000m
600-4500m
600-4500
100-2000m
600-3000m
Carbonate rich lenses
Calcaroues shale and tight

sandstone
High maturity may contribute

to fracture stimulation.
Some carbonate lenses
Relatively high clay content

with some carbonate lenses
and laminated sandstone
(silica)
Generally moderately to
occassional high
overpressure
Normal to Moderately
overpressure
overpressure
overpressure
overpressure
Age
Environment of Deposition
Thickness
Organic Content/TOC
Maturity
Maturity window
Depth range in Lion areas
of interest
Mineralogy/brittleness
Mineralogy Comments
Overpressured
Pressure
Source: Lion in-house, various
Positive
Unconventional Potential Assessment for Key Parameters

Reasonably
Positive
Uncertain
Negative
Factors
Negative
April 2015
13
CONVENTIONAL/UNCONVENTIONAL STRATEGY
Synergies: data, operations, potential early cash flow
Use conventional exploration to de-risk unconventional potential
Example of a well which would test
conventional and unconventional targets
Potential for
Middle Baong
sandstones
Lower Baong
unconventional
target
TWT
Peutu/Belumai
objective, major
fields on trend
Bampo Shale
unconventional
target
April 2015
14
SUMMARY
Lion - Indonesian specialist
South Block A PSC
High impact (100s bcf) gas/condensate targets close to infrastructure in gas hungry, high price market
Low risk oil plays
Unconventional
Early mover position in some of most prospective onshore
basins in region
Multi-tcf gas, multi-100s mmbbl oil potential
For information on partnering with Lion please contact:
Kim Morrison
Chief Executive Officer
kmorrison@lionenergy.com.au
Office: +61 8 9211 1500
Mobile: +61 404 490 964
April 2015
15
SEMAI III
Offshore West Papua

PT. SUMA SARANA
This document is confidential and is intended
solely for the use and information of the client to
whom it is addressed. No copies shall be made
without MIGAS permission
Semai III Block Location

PSC Facts
Block:
Semai III PSC
Operator:
PT Suma Sarana 100%
Acreage:
2,273.07 sqkm
Contract Signed:
13 November 2008
Signature Bonus:
US$ 6,000,000
Frontier PSC Terms:
Post tax 60:40 gas split (40% to Contractor)

Post Tax 65:35 oil split (35% to Contractor)
3-Year Firm Commitments:
G&G Study
: US$ 1,000,000
2D Seismic Acq
: 1,250 km
2D Seismic Repro
: 785 km
Exploration Wells
: 2 bid at $40MM each

(remaining commitment)
Semai III
Semai III And Surrounding Activity
Semai II
Murphy Operator
$11MM Sig. Bonus
3 well commitment (completed)
1,800 km 2D seismic (completed)
Drilled 3 dry holes
TBJ-1X
Serai-1
&
Bawang Putih-1
Semai III
Semai II
Lengkuas-1
PT Suma Sarana (100%)

$6MM Sig. Bonus
2 well commitment
Semai III
Semai IV
Andalan-1
Semai IV
Murphy Operator
$1MM Sig. Bonus
500 km 2D seismic (completed)
Semai V
Niko Operator (ex Hess)

$40MM Sig. Bonus
3 well commitment (2 drilled)
Andalan-1 a discovery in the Early Jurassic
Evolving History of the Papua Giant Gas Story

Hiatus of gas exploration in Papua until 2009 - Tangguh LNG first production
Two LNG trains 7.6mmt
Third train in progress, 3.8mmt
14-24TCF of gas
Hess awarded Semai V PSC in Q4 2008 for record $40MM signing bonus
Multiple bidders
Hess; Murphy, PTTEP, Inpex; Total; Shell; Marathon; XOM
Andalan-1 P&A 2011 Hess
Hess interpreted Jurassic section as wet from poor quality MDT data
Hess interpreted Jurassic section as tight and non-commercial.
Hess interpreted gas shows as drill bit metamorphism
Hess exited Indonesia quickly in 2013
Andalan-1 Gas-Condensate Discovery

Multiple third party analyses conclude 500ft-1000ft net pay in the well
Reservoir is low perm but will flow at commercial rates and volumes based on third party
analyses and analogs
Gas shows clearly plot as wet thermogenic gas and not drill bit metamorphism
Well is >1,000ft down dip of the crest and significant Jurassic and Triassic section
remains undrilled.
Giant structure with probabilistic UGR 7TCF-30TCF-90TCF
4
Regional Stratigraphy &Petroleum System

STRATIGRAPHY OF BERAU BLOCK
PLEISTOCENE
1.5
STEENKOOL
Sltst, Ss & lignites/

cong, beds.
0'- 1500'
PLIOCENE
5
KLASAFET
Sh, Calc. mdst.

Sltst
0' - 1500'
( SEAL )
BANDA
ARCH
COLLISION
Gas
Oil
Seal
Rock
REMARKS
Timing of
Migration
MA
REGIONAL
TECTONICS
THICKNESS ENVIRONMENT
PAR MARINE
FT. (M)
SHAL DP.
Reservoir
Rock
LITHOLOGY
Source
Rock
AGE
STRATIGRAPHY OF BE
AGE
LITHOLOGY
MA
PLEISTOCENE
COMPRESSION,
WRENCH FAULTS
STEENKOOL
REEFAL &
Shelfal, Lmst
SS, Congl
SIRGA
20
0' - 2400'
( RESERVOIR )
0' - 600'
THRUSTING
KAIS
POROSITY :
10 - 30%
WIRIAGAR
OIL FIELD
MIOCENE M
15
35
SS, Sltst, Sh
JASS
100
E
L
LOWER
140
160
JURASSIC M
EOCENE
Sh, Sltst
Minor Lst
Red sh, ss,

minor Lmst.
TIPUMA
960' - 4318'
( SEAL )
UP
CRETA
CEOUS
0 - 8000'
AIFAM
PRE HORST & GRABEN

BREAK DEVELOPMENT
INTRA CRATONIC
UP
SAG
Meta Sediments
Primary Target:
Mesozoic NW Shelf
Passive Margin SS
( SEAL )
0' - 700'
( RESERVOIR )
960' - 4318'
( SEAL )
0' - 666'
SS, Sltst
Carbon Mdst ( SOURCE )
( RESERVOIR )
& Coal
L
E
Red sh, ss,

minor Lmst.
TIPUMA
0 - 8000'
240
260
PERMIAN
DEVONIAN
VARISCAN
OROGENY
Sh, Sltst
Minor Lst
700' - 2600'
210
CARBONI
FEROUS
KEMUM
160
E
TRIASIC
360
420
100
JURASSIC M
3- 8%
400
JASS
POR
5 - 15%
0 - 3000'
(SOURCE )
( RESERVOIR)
SS, Sltst, Sh
DARAM
190
260
Carbon mdst/sh,
ss & coal
An Hyd & Sh
WARIPI
140
POR. :
280
300
55
60
240
PERMIAN
70
WEST & EAST

OF AREA
HORST & GRABEN
DEVELOPMENT ROABIBA
POR :
5- 20%
PERM
1-2700 md
BREAK
210
50
PALEOCENE
DRIFT
0' - 666'
SS, Sltst
Carbon Mdst ( SOURCE )
( RESERVOIR )
& Coal
190
POR :
1- 21%
( SEAL )
0' - 700'
( RESERVOIR )
FAUMAI
LOWER
70
UPPER
DARAM
40
UPPER
An Hyd & Sh
WARIPI
700' - 2600'
KEMBELANGAN
55
Interbeded
Lmst and
dolomite
AIFAM
KEMBELANGAN
50
FAUMAI
PALEOCENE
SILURIAN
0' - 2400'
( RESERVOIR )
0' - 600'
35
Interbeded
Lmst and
dolomite
V V V V V V
60
DEVONIAN
REEFAL &
Shelfal, Lmst
SS, Congl
SIRGA
20
V V V V V V
40
CARBONI
FEROUS
KAIS
OLIGOCENE
L
TRIASIC
0' - 1500'
( SEAL )
25
OLIGOCENE
CRETA
CEOUS
Sh, Calc. mdst.

Sltst
KLASAFET
10
25
EOCENE
0'- 1500'
LENGGURU
15
Sltst, Ss & lignites/

cong, beds.
PLIOCENE
10
MIOCENE M
1.5
THICKNESS ENVI
FT. (M)
SILURIAN
280
300
Carbon mdst/sh,
ss & coal
0 - 3000'
(SOURCE )
( RESERVOIR)
360
400
420
KEMUM
Meta Sediments
From PT Suma Sarana
Jurassic Reservoirs And Reserves

4000
mmboe
Mid Jurassic
Tangguh Complex
Mid Jurassic
(carbonate)
Permian Organofacies F
Oseil
140
mmboe
Semai III
Triassic Organofacies A
The Australian Craton is

provenance for thick,
high quartzose Jurassic
sands throughout the
region (both in the Mid
and Early Jurassic). The
Oseil field is too distal for
the clastics and is a
Jurassic oolitic reservoir.
Early Jurassic
CGR = 5
bbl/mmscf
Kitchen Area
2500
mmboe
5500
mmboe
Mid
Jurassic
1300
mmboe
7-90
TCF
SunriseTroubadour
380
mmboe
?
Abadi
Lynedoch
Evans
Shoal
Upper Jurassic Organofacies B

6
Eocene
Deep water turbidite sands;

secondary reservoir at Tangguh
Paleocene
Progressive deepening from outer shelf

to slope sedimentation
Late
Cretaceous
Quality Mid Jurassic Sands
Campanian Unconformity
Condensed section glauconitic reworked
sand & mud
Late
Jurassic
Dominantly carbonate as clastics are

trapped in landward rift grabens
Subsidence and accelerated transgression
Middle
Jurassic
Transgressive Surface of Erosion

Mid Jurassic transgression
Progressive continent-ward back-fill of
incised valley with super mature qz sands
Triassic progradation
Cutting of Bintuni incised valley
Note the unconformity. Older

Mid Jur and E Jur section is
present to the south and west.
Late
Permian
Permian Passive Margin

TD 13,355
IPA
Log from: Marcou et al, 2004
SYN-RIFT
New Guinea Limestone

Progressive shallowing from Eocene
through the Miocene with minor
tectonism and Sirga/Adi sand deposition.
PRE-RIFT
ARCO
Vorwata 2
(1997)
POST-RIFT PASSIVE MARGIN
Vorwata-2: Key Roabiba Sand Example
Semai III Bathymetry Map And Prospects
Regional High Resolution Bathymetry
Prospect
Water Depth at the

crest (ft)
Poksai
230
Murai Batu
560
Murai Batu
West
1,640
Cucak Ijo
2,100
Ciblek
360
Prospects lie under present

day outer shelf/upper slope
Regional Time Structure Map Top Jurassic

Note the 2 areas of closure
that stand out on the Jurassic
offshore time structure map:
Semai III Murai Batu/Murai
Batu West/Cucak Ito/Poksai
area
Semai V Andalan feature.
Murai Batu, Murai Batu West,

Cucak Ijo, Poksai Area
Semai III
Semai II
Ciblek
Semai IV
Semai V
Andalan
Regional Line: Lengkuas Murai Batu - Andalan
Lengkuas-1
Andalan-1
Murai Batu
Note a general thickening of the younger Plio/Pleistocene section from

south to north.
Northern Prospect Group

C.I. = 250
Top Jurassic Depth Map
Poksai
Murai Batu West

Murai Batu
Prospect
Murai Batu
Size = 15,170 acre
Crest = 15,750ft Max Spill = 18,750ft
Vertical Relief = 3,000ft
WD = 560
Murai Batu West

Size = 7,100 acre
WD = 1,640
Cucak Ijo
Cucak Ijo
Size = 27,470 acre

WD = 2,100
Poksai
Size = 18,910 acre
WD = 230
SEISMIC BATHYMETRY
Murai Batu Cucak Ijo Dip Line
Plio Unconf
Late Miocene
Early Miocene
TWT (ms)
Early Oligocene
Top Cret
Top Jurassic
Cucak Ijo
Murai Batu
Murai Batu - Poksai Strike Line

E
Murai Batu Probabilistic Resource

Mid Jurassic Resource Summary
M Jurassic Resource Parameters

Volume Inputs
Low
Best
High
Area (acres)
1,550
4,880
14,000
Gross Thickness (feet)
500
740
1,100
Net / Gross (%)
50
60
70
Net Thickness (feet)
230
350
550
Porosity (%)
10
13
17
Hydrocarbon Saturation (%)
65
73
80
Formation Volume Factor OIL

(RVB/STB)
Formation Volume Factor GAS
(SCF/RCF)
GAS (BCF)
COND (MBO)
285
300
60
71
80
Mid
High
Mean
390
1,310
4,180
1,840
10
40
16
70
230
730
320
OIL (MMBO)
HC (MMBOE)
270
Low
Calculations by MMRA
Estimate Unrisked Gross Recoverable Resources
Oil Recovery Factor (%)

Gas Recovery Factor (%)
E Jurassic Resource Parameters

Volume Inputs
Low
Best
High
Area (acres)
1,550
4,880
14,000
Gross Thickness (feet)
1,000
1,730
3,000
Net / Gross (%)
30
45
60
Net Thickness (feet)
310
600
1,180
Porosity (%)
6.4
Hydrocarbon Saturation (%)
65
73
80
270
285
300
Formation Volume Factor OIL

(RVB/STB)
Formation Volume Factor GAS
(SCF/RCF)
E Jurrasic Risk
Source
Timing/Mig
Reservoir
Trap
90%
60%
40%
60%
POS
13%
Combined mean
recoverable gas
estimate is: 3.2 TCF
Source
Timing/Mig
Reservoir
Trap
90%
60%
50%
60%
POS
16%
Early Jurassic Resource Summary

GAS (BCF)
COND (MBO)
Low
Mid
High
Mean
240
910
3,180
1,360
30
12
40
160
560
240
OIL (MMBO)
HC (MMBOE)
Oil Recovery Factor (%)

Gas Recovery Factor (%)
M Jurassic Risk
50
60
70
Calculations by MMRA
Estimate Unrisked Gross Recoverable Resources
Murai Batu Economic Model
3.2TCF gross, 2.3TCF sales

IRR 18.1%
NPV10 $1.8B
$10.00 gas +2% per annum
$60.00 oil +3% per annum
Platform in 600ft water with integrated rig
15 wells in M. Jurassic; 25 wells in L. Jurassic
Floating LNG 3MMT
Murai Batu Economic Model
Executive Summary
The Semai III PSC is 2273 km2 in size. There is a 2 well commitment remaining on the PSC.
The wells must be drilled before July 2017.
The western portion of the Birds Head region of Indonesia is part of the Australian craton.
Mid and Early Jurassic quartzose rich sandstones shed off the craton are the primary
reservoir objectives in Semai III. Tertiary carbonates are widely distributed regionally as
well and are a potential secondary exploration objective.
Semai III lies in the heart of a prolific hydrocarbon trend. Significant Jurassic oil and gas
discoveries have been made in the nearby Tangguh Fields (Vorwata, Wiriagar, Roabiba,
etc.), Asap, Merah, Seram Island, Andalan (Semai V) as well as Abadi and the NW Shelf
fields to the south.
There are five prospects in Semai-III; Poksai, Murai Batu, Murai Batu West, Cucak Ijo and
Ciblek. They lie in water depths ranging between 230 2,100 ft. The Jurassic sand
objectives are targeted at depths between 10,000 15,500 ft ss.
Combined Mid and Early Jurassic reservoir probabilistic mean, recoverable unrisked reserve
calculations are:
Murai Batu
3.2 TCF
Murai Batu West
1.9 TCF
Cucak Ijo
4.1 TCF
Poksai
3.4 TCF
Ciblek
0.74 TCF
WELCOME YOUR VISIT TO OUR OFFICE IN JAKARTA

Gedung MNC TOWER 18TH Floor
Jl. Kebon Sirih No. 17-19
Jakarta, 10340
PERSON IN CHARGE
Sukanda Chandrahayat
General Manager
PT. SUMA SARANA
schandra@sumasarana.com
+62-21-3920-444
+62-812-8938-5000
Kris Energy
Udam Emas Overview
April 2015
The initial public offering of the Company was sponsored by CLSA Singapore Pte Ltd and Merrill Lynch (Singapore) Pte Ltd. (the Joint Issue Managers, Global Coordinators,Bookrunners and Underwriters). The Joint Issue Managers, Global Coordinators, Bookrunners and Underwriters
assume no responsibility for the contents of this announcement. All information contained in this document is strictly confidential and intended solely for the use of the individual or enti ty to whom it is addressed. This document must not be disclosed, distributed or disseminated to, or used
by anyone other than the addressee. We shall not be responsible for any liabilities incurred in reliance on the contents of this document, especially if it has been disclosed, copied, distributed or disseminated to or used by anyone without our prior notice or approval.
KrisEnergy Farmout Opportunities in Indonesia
BLOCK A ACEH
2015 KrisEnergy Limited
KE:Udan Emas: Block Location
Udan Emas PSC

Block Location
Existing Data
2014/15 Seismic &
Aeromag/Gravity
UTM Zone 53 S WGS 1984
Author: B.Boslaugh
www.krisenergy.com
Date: Jan 2015
KE:Udan Emas: Seismic Results to Date: Line 1 Preliminary Post Stack Migration
-0.200
-0.100
0.000
0.100
0.200
0.300
0.400
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1.000
1.100
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1.600
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1.800
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2.000
2.100
2.200
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2.700
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3.000
3.100
3.200
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3.700
3.800
3.900
4.000
4.100
4.200
4.300
4.400
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4.600
4.700
200
100
000
100
200
300
400
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900
000
100
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000
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000
100
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000
100
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300
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500
600
700
Prelim Migration
www.krisenergy.com
-0.200
-0.100
0.000
0.100
0.200
0.300
0.400
0.500
0.600
0.700
0.800
0.900
1.000
1.100
1.200
1.300
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1.500
1.600
1.700
1.800
1.900
2.000
2.100
2.200
2.300
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2.600
2.700
2.800
2.900
3.000
3.100
3.200
3.300
3.400
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3.600
3.700
3.800
3.900
4.000
4.100
4.200
4.300
4.400
4.500
4.600
4.700
-0.2
-0.1
0.0
0.1
0.2
0.3
0.4
0.5
0.6
0.7
0.8
0.9
1.0
1.1
1.2
1.3
1.4
1.5
1.6
1.7
1.8
1.9
2.0
2.1
2.2
2.3
2.4
2.5
2.6
2.7
2.8
2.9
3.0
3.1
3.2
3.3
3.4
3.5
3.6
3.7
3.8
3.9
4.0
4.1
4.2
4.3
4.4
4.5
4.6
4.7
Interval Velocity Overlay
KE:Udan Emas: Seismic Results to Date: Line 2: Preliminary Post Stack Migration
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
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00
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00
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00
00
00
00
00
00
00
00
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00
00
00
00
00
00
00
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00
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00
00
00
-0.200
-0.100
0.000
0.100
0.200
0.300
0.400
0.500
0.600
0.700
0.800
0.900
1.000
1.100
1.200
1.300
1.400
1.500
1.600
1.700
1.800
1.900
2.000
2.100
2.200
2.300
2.400
2.500
2.600
2.700
2.800
2.900
3.000
3.100
3.200
3.300
3.400
3.500
3.600
3.700
3.800
3.900
4.000
4.100
4.200
4.300
4.400
4.500
4.600
4.700
Prelim Migration
www.krisenergy.com
-0.200
-0.100
0.000
0.100
0.200
0.300
0.400
0.500
0.600
0.700
0.800
0.900
1.000
1.100
1.200
1.300
1.400
1.500
1.600
1.700
1.800
1.900
2.000
2.100
2.200
2.300
2.400
2.500
2.600
2.700
2.800
2.900
3.000
3.100
3.200
3.300
3.400
3.500
3.600
3.700
3.800
3.900
4.000
4.100
4.200
4.300
4.400
4.500
4.600
4.700
-0.2
-0.1
0.0
0.1
0.2
0.3
0.4
0.5
0.6
0.7
0.8
0.9
1.0
1.1
1.2
1.3
1.4
1.5
1.6
1.7
1.8
1.9
2.0
2.1
2.2
2.3
2.4
2.5
2.6
2.7
2.8
2.9
3.0
3.1
3.2
3.3
3.4
3.5
3.6
3.7
3.8
3.9
4.0
4.1
4.2
4.3
4.4
4.5
4.6
4.7
Interval Velocity Overlay
KE:Udan Emas: Ekmai SS

GS-6
Ekmai SS
GS-7
Ekmai SS
Imskin LS
GS-8
GS-3
Ekmai SS
www.krisenergy.com
KE:Udan Emas: Emai SS Outcrops as seen on Google Earth
www.krisenergy.com
KE: Udan Emas: Rintis and Bridging
www.krisenergy.com
KE:Udan Emas: Hard work
www.krisenergy.com
KE:Udan Emas: Shot hole drilling Land and Transition
www.krisenergy.com
10
KE: Udam Emas: It is not without its risks.
www.krisenergy.com
11
KE: Udan Emas: Corporate Social Responsibility Programs
www.krisenergy.com
12
][
www.krisenergy.com
13
SEAPEX 2015
Singapore
APRIL 2015
BLOCK 11-2/11 FARMOUT

Nam Con Son Basin; Vietnam
MURPHY OIL CORPORATION
www.m urp h yo i lc o rp.c om
NYSE: MUR
Murphy in Vietnam
Fundamentals
Holder of 3 PSCs
Operator in 2
Mix of shallow water
low risk exploration /
appraisal + deepwater
frontier
Operating office
established in HCMC
Seeking new
opportunities
Leverage existing
operating capability
in Malaysia
Block 11-2/11 PSC Summary

Murphy 60% WI
PVEP carried for 20% until commercial declaration
Awarded June 2013
In first 3-year exploration phase. Seismic commitment met.
Drilling commitment of 3 wells.
Expected 3 well campaign spud April 2016.
Phase 2 has one well commitment and a 20% area relinquishment.
Blocks 144&145
PSC area 2,739 km2

Block
11-2/11
Ho Chi Minh City
Block 11-2/11
Block H
Block 13/03
Blocks CA1&CA2
Block SK-2C
Block K
Murphy SK Oil
Murphy SK Gas
Block SK-314A
NYSE: MUR
Block 11-2/11 Farmout Opportunity

Highlights
Proven petroleum system

Nearby Fields producing ~ 60,000 bopd and
600 MMcfd
Typical SE Asian half graben geology
Stacked reservoir seal pairs in multiple
stratigraphic levels
Coaly oil prone source rocks
All wells drilled in and around the block
discovered oil and gas
Inblock discoveries not yet developed
More than 20 identified leads/prospects
Cluster development potential
Unrisked total potential exceeds 500 MMBOE
Block 11-2/11
NYSE: MUR
Structure & Geology
Eight structures drilled all have hydrocarbon pay

3 way and 4 way fault closures
High Pg ~60-70%
Multiple pay zones over 2,000 metre section
High porosity stacked sands up to 30 m thick
DSTs flowed over 3,000 bopd and 24 MMcfd
Kitchens adjacent to structures
Short distance migration from oil mature
embayments
Discovery Wells
Lead 4
Lead 8
Lead 17
10 km
Existing infrastructure nearby
NYSE: MUR
Seismic Over Discoveries

Highlights
Mapped on new broadband 3D seismic
MMU
Dua
Cau
Basement
data
Currently processing to PSDM
Plan to deviate wells to track fault plane
Leads and prospects adjacent to
discoveries
Upside in basement drape structures in
Oligocene section
NYSE: MUR
Timing & Cost

Activity Schedule
FARMOUT
Three-well drilling campaign planned for 2016

Shallow water, low-cost drilling environment well cost ~$25mm
Potential accelerated early production system
Leverage Murphys existing operating and fast low-cost development capabilities
NYSE: MUR
The Offer
Murphy is offering up to a 30% working interest in Block
11-2/11.
Following the execution of a confidentiality
agreement, parties will be invited to attend a data-room
where all relevant seismic and well data, interpretive
products, technical reports and commercial agreements
will be available for evaluation.
A management
presentation will be provided. The data-room is expected
to open in May 2015 with bids due in early September
2015.
For further details please contact:
Ravi Meka
Business Development Manager,
Southeast Asia & Australia
ravi_meka@murphyoilcorp.com
ph: +60-3-7490-7691
IMPORTANT NOTICE
The information contained in this flyer is made available to bona fide prospective transferees solely to
enable them to consider the opportunity to acquire a working interest in Block 11-2/11 by way of farm-in
and may only be used for that purpose. It is not an offer to sell. This flyer and the information contained
within it have not been independently verified or audited. This flyer contains certain projections that
reflect assumptions, expectations and estimates that may or may not prove to be correct. A prospective
transferee interested in this opportunity must make its own independent assessment and investigation of
those matters. Accordingly, neither Murphy nor any of its shareholders, directors, officers, agents,
employees or advisers take any responsibility for, or will accept any liability whether direct or indirect,
express or implied, contractual, tortuous, statutory or otherwise, in respect of the accuracy or
completeness of this information or for any of the opinions contained herein or for any errors, omissions
or misstatements or for any loss, howsoever arising from the use of this flyer.
NYSE: MUR

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Exploration Opportunities

Dr. Chris McKeown

ASX and NZX Listed E&P company

NZOG key assets

15% of Kupe gas & oil field

Development under review in Sumatra : including unconventional

Why are we exploring

PEP 52181 (Kaheru)

Kaheru Permit (PEP 52181)

312 km2 permit in the south Taranaki Basin

Kaheru is a drill-ready thrust-related anticline

Close to shore (~12 km) in shallow water (~25 m)

Well permitting and planning completed

Close to existing infrastructure with export facilities

Opportunity to farmin through funding share of

Joint farm out with TAG Oil

Petroleum System Overview

Secondary reservoir is the

Intra-formational and top

Source rocks are found in

Kaheru Prospect (PEP 52181)

Oligocene Depth Structure

Proven Play Trend

Improved 3D RTM imaging

Resource Potential (oil case)

Kaheru-1 Planning (PEP 52181)

Kaheru-1 Well Plan (Water Depth 25m)

Planned duration 49 days

All consents to drill

Well control emergency plan

Kaheru Development (PEP 52181)

Scoping development scenarios

offshore wellhead platform

similar to nearby Kupe field (NZOG 15%)

similar to N. Taranaki Pohokura field

First oil/gas by 2019

Potential to connect to existing facilities

Rimu onshore oil

Kaheru Farmout Process

Online Dataroom available

Physical Dataroom available

Full Kingdom projects supplied to qualified parties

Offers open to consideration on first-come basis

PEP 52717 (Barque Prospect)

NZOG Strategic position in Canterbury / GSB

Drilled Caravel-1 in 2014

PEP 55794 (NZOG 30%)

Clipper Permit (PEP 52717)

3,423 km2 permit in the Canterbury Basin

NZOG 50% (Operator) & Beach 50%

Water Depth 100-1200m

Barque Prospect ~800m

Proven petroleum system at play level

Reservoir, source/charge and seal all present and

Excellent quality, interpretation, seismic inversion

Joint farmout with Beach

Barque-1 well planned for 2016-7

DST 2240 bcpd

Well will satisfy subsequent licence period

Petroleum System Overview

Key intervals are the Herbert Formation sourced by the

Barque Prospect (PEP 52717)

Material Resource Potential

2015 Block Offer Opportunity