Acquisition of Peak Oil & Gas Limited Creating a diversified - PowerPoint PPT Presentation

Raisama Limited (ASX: RAI) Acquisition of Peak Oil & Gas Limited Creating a diversified energy company December 2010 www.raisama.com.au

Agenda  Acquisition Rationale  Benefits to RAI Shareholders  Acquisition Terms  Corporate Overview  Board and Senior Management  Post Acquisition Project Locations Map  Projects Overview - Australia - Kyrgyz Republic - Philippines - Thailand - Indonesia - New Zealand  Operations Schedule 2

Acquisition Rationale  Transforms RAI from Explorer to Producer  Near-term cash flow from Cadlao Redevelopment Project to provide further funds for development of asset portfolio  Positioned to exploit growth in Asian energy demand  Strong board and management team with depth of corporate, commercial and technical expertise  Impressive inventory of new projects in petroleum and uranium, providing a pipeline for future growth  Better access to capital and a broader investor base 3

Benefits to RAI Shareholders  Acquisition of Peak Oil & Gas secures Cadlao a $70m NPV project Company transforming for only $39m in RAI scrip acquisition  Based on $55m free cash in first six months of Cadlao operation, stock on 1x 2011 free cash flow multiple  Exposure to diversified portfolio of energy assets, covering Asia Diversification Pacific and Eastern Europe  Upside exposure from Cadlao Redevelopment Project - scheduled Near-term revenue for First Oil 4Q 2011 (certified 2P reserves: 2.9 mmbbls)  Provides liquidity for RAI shareholders due to anticipated Market re-rating increased trading volumes and likely market re-rating  Enhanced Board & Management team, selected from the two Strengthened board entities  Improved broker coverage and access to capital markets to fund Access to funds future exploration and development 4

Achieves Strategic Goals  Transforming from Explorer to Producer  Diversification across the energy industry – enlarged group will have exposure to oil, gas and uranium encompassing traditional fossil fuels and clean energy  Combined cash position of $12.5m to provide initial working capital  Near term revenue opportunities - immediately delivering net cashflow of US$50m in the first six months of production from Cadlao Redevelopment Project  Solid platform to pursue growth opportunities  Potential upside to the stock and significant value to the Company 5

Acquisition Terms  Off market takeover  Offer values Peak Oil & Gas at A$0.30 a share, or A$39m  15 RAI shares offered for every 11 Peak shares  Offer is unanimously recommended by Peak’s Board of Directors  Pre-bid acceptance agreements already endorsed for ~19% of the total Peak shares on issue 6

Corporate Overview Raisama Pro-Forma Merged Entity ASX Listing 2 Dec 2009 Completion of Merger Feb 2011 Share Price (29/11/10) $0.25 Shares 241.9m Shares 82.25m Options 54.5m Options 30.0m Cash (Feb 2011) $15.0m Market Cap $20.5m Cash (as at 30 Sept 2010) $8.06m Current top 20 RAI holders 61.05% Major Shareholders – Post Acquisition Hebei Mining 10.32% UBS Wealth 2.44% Management (Clients) M Howison 6.02% Lanza Holdings 6.30% Veblen Group 5.79% C Reindler 1.70% 7

Board and Senior Management • More than 20 years in the resources sector, including 7 years in uranium David Berrie • Previously Corporate Director of Summit Resources and MD of Fusion Resources both acquired by Paladin Energy Ltd Executive Chairman • More than 18 years with WMC and BHP Billiton, including managing the Yeelirrie Project and within WMC’s petroleum division Jeff Steketee • More than 20 years in the energy sector, including with Halliburton and Unocal • Pivotal in developing several new companies in Asia, including CUEL and JSK Energy Managing Director • Worked extensively in Asia on business development, strategy and investment • More than 30 years experience in the Australian and international petroleum sector Jim Durrant • Senior technical and corporate positions with companies including Delhi Petroleum and WMC Ltd Technical Director • Co-founder and former Technical Director of Strike Oil • Involved in mining and exploration in WA for past 38 years, including in uranium Chris Reindler • Responsible for the location of numerous target areas and joint ventures with major companies in Australia Executive Director • Five years with Agip Nucleare exploring for uranium in Western Australia • A lawyer and investment banker with more than 20 years experience Matthew Howison • Previously with Rothschild, Turnbull & Partners, Goldman Sachs and Salomon Smith Barney involved in merger and acquisitions and capital raisings Non- Executive Director • Founder of merchant bank Emerald Partners and active investor and adviser in the resources sector Guy Cowan • 23 years’ international experience in senior commercial and financial roles with Shell • Previously CFO and Director of Strategy at Fonterra Co-Operative Group Limited Non-Executive Director • Non-Executive Director of companies including UGL, QSL and Gold Oil 8

Post Acquisition Project Locations 9

Impressive Project Pipeline – Sunday Creek 60 KM² OF PRIME URANIUM GROUND 20KM EAST OF CAMECO- MITSUBISHI’S KINTYRE PROJECT  Within structurally important Rudall Metamorphic Province  Occidental explored Sunday Creek in late 70s identifying uranium targets without GPS or high resolution airborne data and achieved high grade intersections  Recent approval to conduct a preliminary heritage survey is an important step in gaining access 10

Sunday Creek - Geology  Access is difficult and the area is underexplored compared to potential  Initial radiometric surveys are indicating strike length of 20km and a separate 5km zone with an associated intense magnetic anomaly  The known mineralised structures are highly fluidised, are large and have the ability to contain a significant uranium resource 11

Impressive Project Pipeline: Kashkasu II TWO LICENSES IN THE KYRGYZ REPUBLIC FOR 50 KM²; 75% STAKE  Maiden drilling programs completed 09/10 with significant success - intercepted high grade zones of uranium mineralisation at shallow depth  Further licence granted on strike to the NW / SE of uranium bearing formations at East Kokmoinok. Successful drilling completed, adding to Kashkasu inventory.  Third drilling program doubled the strike of mineralisation to 2.6km  Significant Trenching Results including 4020, 1379 and 1084 ppm U 3 O 8 – Highly cost effective methodology to gain important geological information  Significant drill intersections include: 2m @ 1651 ppm U 3 O 8 6m @ 625ppm U 3 O 8 2m @ 1521 ppm U 3 O 8 5m @ 637ppm U 3 O 8 5m @ 686 ppm U 3 O 8 3m @ 810ppm U 3 O 8 12

Kashkasu II Project – Results and New Drill Hole Locations 13

Cadlao – Project Economics Base case Project A$m Peak A$m NPV 123 70 Free cash flow (6 months after 1 st Oil) 67 55 3 months 3 months Payback months (from first oil) Potential upside – Indicative Incremental NPV* Acquisition of residual ORRI 5 3 Acquisition of Production Royalty 7 4 Reserves enhancement 10 6 Satellite field tie-in (4.0 mmbbl) 40 20 Potential incremental NPV* 62 33 Base case assumptions 2P reserves 5.8 mmbbl 2.9 mmbbl Net 2P reserves to Peak US$81/bbl Oil price (GCA price forecast) Capex (to 1 st Oil) US$5/bbl Opex (average) US$22/bbl Discount rate 10% A$:US$ 0.90 * Indicative NPV estimated by Peak Note: Production assumptions beyond the Cadlao 2P Base Case are by Peak. 14

Near-Term Cash Flow from Cadlao NW Palawan Basin 15

Cadlao Project Overview (50% Operator) NEAR TERM PRODUCTION – FIRST (NEW) OIL TARGETING Q4 2011  Simple redevelopment project: – Previous production: 11 mmbbl – Remaining 1P certified reserves: 2.0 mmbbl net to Peak – Remaining 2P certified reserves: 2.9 mmbbl net to Peak  Redevelopment solution is low cost, proven and low risk  Palawan Basin hosts significant oil and gas projects including Shell’s Malampaya project  Accessing oil updip from previous production wells  Significant upside from: – Potential Cadlao reserves upgrade – Bonita tieback opportunities – Numerous exploration prospects Note: All production and reserves statements for Cadlao are net to Peak on a 50% working interest basis. 16

Cadlao Tieback Upside – Bonita (up to 32.2%) CHANCE TO ADD VALUE THROUGH TIE-BACKS VIA BONITA BLOCK  Several high value and low risk drilling opportunities in the Bonita Block, adjacent to Cadlao Cadlao East Prospect Up to 5.8 mmbbls recoverable oil located adjacent to SC6 (Cadlao) Drillable from Cadlao production facility (immediate tie-in)  Bonita Discovery – Potential 2-3 mmbbls recoverable oil located approx 10km from Cadlao tieback via Libro South and Cadlao East – Requires one appraisal well and subsea tie back  Tara 1 and Libro 1 oil discoveries provide additional tieback opportunities with incremental NPV potential CUMULATIVE UPSIDE POTENTIAL GREATER THAN 10 MMBBLS (UNRISKED) 17