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ASX : PCL PANCONTI NENTALOI L& GAS NL PANCONTI NENTAL OI L & GAS NL MALTA PELAGI AN SHELF PELAGI AN SHELF AREA 5 ANNUAL GENERAL MEETING PRESENTATION AREA 4 BLOCK 3 29 November 2011 AUSTRALI A AUSTRALI A CANNI NG BASI N


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SLIDE 1

ASX : PCL

MALTA PELAGI AN SHELF

PANCONTI NENTALOI L& GAS NL

PELAGI AN SHELF

  • AREA 5
  • AREA 4 BLOCK 3

PANCONTI NENTAL OI L & GAS NL

ANNUAL GENERAL MEETING PRESENTATION

29 November 2011

AUSTRALI A AUSTRALI A CANNI NG BASI N

  • EP 104 / R1
  • L15

NAMI BI A WALVI S BASI N

  • EL 0037

AUSTRALI A CARNARVON BASI N EP 424 KENYA LAMU BASI N

  • L6
  • L8
  • L10A

EL 0037

  • EP 424
  • EP 110
  • L10A
  • L10B
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SLIDE 2

Disclaimer

These materials are strictly confidential and are being supplied to you solely for your information and should not be reproduced in any form, redistributed or pass on, directly or indirectly, to any other person or published, in whole or part, by any medium or for any purpose. Failure to comply this restriction may constitute a violation of applicable securities laws. These materials do not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, These materials do not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for,

  • r any offer to underwrite or otherwise acquire any securities, nor shall any part of these materials or fact of their distribution or communication

form the basis of, or be relied on in connection with, any contract, commitment or investment decision whatsoever in relation thereto. The information included in the presentation and these materials is subject to updating, completion, revision and amendment, and such information may change materially. No person is under any obligation to update or keep current the information contained in the presentation and these materials, and any opinions expressed in relation thereto are subject to change without notice. The distribution of these materials in other jurisdictions may also be restricted by law, and persons into whose possession these materials come should inform themselves about, and observe, any such restrictions. This presentation includes forward-looking statements that reflect the company’s intentions, beliefs or current expectations. Forward looking statements involve all matters that are not historical fact. Such statements are made on the basis of assumptions and expectations that the Company currently believes are reasonable, but could prove to be wrong. Such forward looking statements are subject to risks, uncertainties and assumptions and other factors that could cause the Company’s actual results of operations, financial condition, liquidity, performance, prospects or

  • pportunities, as well as those of the markets it serves or intends to serve, to differ materially from those expressed in, or suggested by, these

forward-looking statements. Important factors that could cause those differences include, but are not limited to: changing industry. Additional factors could cause actual results, performance or achievements to differ materially. The company and each of its directors, officers, employees and advisors expressly disclaim any obligation or undertaking to release any update of or revisions to any forward-looking statements in the presentation advisors expressly disclaim any obligation or undertaking to release any update of or revisions to any forward looking statements in the presentation

  • r these materials, and any change in the Company’s expectations or any change in the events, conditions or circumstances on which these

forward-looking statements are based, expected as required by applicable law or regulation. By accepting any copy of the materials presented, you agree to be bound by foregoing limitations.

h h il d j i b d i f i il d b h h The summary report on the oil and gas projects is based on information compiled by Mr R B Rushworth, BSc, MAAPG, MPESGB, MPESA, Chief Executive Officer of Pancontinental Oil & Gas NL. Mr Rushworth has the relevant degree in geology and has been practising petroleum geology for more than 30 years. Mr Rushworth is a Director of Pancontinental Oil & Gas NL and has consented in writing to the inclusion of the information stated in the form and context in which it appears. 2

http://www.pancon.com.au

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SLIDE 3

Pancontinental Summary

  • Pancontinental Oil & Gas is an ASX listed E&P company focussed on Kenya

(East Africa) and Namibia (Southwest Africa). ASX code: PCL

  • Pancontinental has an “early mover” advantage in Africa ensuring it is well

Growing Portfolio of East & West African

positioned amongst peers

  • High volume oil and gas potential means potential for significant financial

upside li ff h ( )

ll l

Assets

  • Four licences offshore Kenya (18,000 Sq Km) as well as a large 17,000 Sq

Km area offshore Namibia

  • Pancontinental is partnered by major companies (BG, Origin,

Apache, Tullow, Premier, Cove) through farmin and new projects –

Recognised Partners with Successful Af i T k R d

confirming the world class prospectivity of the acreage

  • Pancontinental is substantially free carried for its first well on the

drill-ready billion barrel potential Mbawa Prospect offshore Kenya

African Track Record D fi d & F d d

  • I n East Africa more than 10 wells are planned by players in the next

18 months – potential to significantly re-rate Pancontinental’s Kenyan acreage

  • I n Namibia 6 wells or more are planned by surrounding players in

Defined & Funded Work Program

p y g p y

the next 18 months – potential to significantly re-rate Pancontinental’s Namibian acreage

  • Experienced management team with long operational track record in Africa

Experienced Management Team, Looking to the Future

3

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  • Pancontinental also has oil and gas interests and pending interests in Malta and

Australia and maintains a policy of reviewing new opportunities

Looking to the Future

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SLIDE 4

Corporate Overview

Price A$

8 7 8 6 5 4 3 2 6 2 1

e

Company Progress Capital Structure Shareholders

Volume

1. Origin Energy divestment of Block L8 to Apache 2. Kenya Government offers new PSC on Blocks L10A & L10B 3 New 3D seismic report on Mbawa potential in

p

ASX Code: PCL Share Price: c.A$0.10 Shares on Issue: c.661M

Mgmt & Board 25%

3. New 3D seismic report on Mbawa potential in Block L8 4. PCL announces share placement to raise A$5M 5. PCL signs PSC contract for Blocks L10A & L10B 6. PCL and Tullow sign farm-out agreement for l k Market Cap: c.A$66M Cash: A$3.3 M Debt: Nil

Board 25% Institutions 9% Other 66%

4

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Block L8 7. Signed PA & EL for Namibia Blocks 8. 3D seismic commences in L01A and L10B 52 Week High/Low (A$): 3.5c / 14.5c

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SLIDE 5

Pancontinental Asset Overview

PANCONTI NENTAL HAS ESTABLI SHED SI GNI FI CANT POSI TI ONS I N AFRI CA'S TWO OI L AND GAS HOT SPOTS

NAMIBIA EAST AFRICA- KENYA

Block Area (km2) PCL I nterest (% ) Operator (% ) Partners (% )

Kenya L6 3,100 40.0% Flow Energy (60% ) Flow Energy (60% ) Kenya L8 5,115 15.0% Apache (50% ) Apache (50% ) Origin Energy (25% ), Tullow (10% ) Kenya L10A 4,962 15.0% BG (40% ) BG (40% ) Cove (25% ), Premier (20% ) Kenya L10B 5,585 15.0% BG (45% ) BG (45% ) Cove (15% ), Premier (25% ) Namibia EL0037 17,295 85.0% PCL (85% ) Paragon (Local Partner) (15% ) Malta Area 5 * 8,000 80.0% PCL (80% ) Sun Resources (20% ) Malta Block 3 – Area 4 * 1,500 80.0% PCL (80% ) Sun Resources (20% ) EP 424 (Australia) 79 38.5% Strike Oil (61.5% ) Strike Oil (61.5% ) EP 110 (Australia) 750 38.5% Strike Oil (61.5% ) Strike Oil (61.5% ) EP 104 / R1 (Australia) 736 10.0% Buru Energy (38.95%) Buru Energy (38.95%) Emerald Gas (12.75%), Gulliver (14.8% ), Ph i R (10% ) FAR (8% ) I di Oil (5 5% )

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EP 104 / R1 (Australia) 736 10.0% Buru Energy (38.95%) Phoenix Resources (10% ), FAR (8%), Indigo Oil (5.5% ) L15 (Australia) 150 12.0% Buru Energy (15.5% ) Buru Energy (15.5% ) Gulliver (49% ), FAR (12% ), Indigo Oil (11.5% )

* Subject to renegotiation

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SLIDE 6

Kenya – I nterest is Heating Up!

  • PCL has been active in Kenya for over 10 years and has an early mover advantage
  • Industry analysts continue to report East Africa has the potential to be one of the largest oil and gas

exploration plays over the next decade. Multiple gas discoveries and accelerating exploration activities

  • Recent farm-in deals and acquisitions have been secured at considerable premiums by major oil and

gas companies – BG Group, Origin, Apache, Tullow, Cove, Total S.A, Ophir Energy ……

Date Anno ncement Acq i e Acq i ee I nte est I n Deal T pe Date Announcement Acquirer Acquiree I nterest I n Deal Type Oct-11

Ophir Energy Acquires Dominion Petroleum Ophir Energy plc Dominion Petroleum Limited Kenya Blocks L9 & L15, Tanzania Block 7, Uganda Area 4B, DRC Block 5 Company

Sep-11

FAR Limited Acquires Flow Energy Limited FAR Limited Flow Energy Limited Kenya Blocks L6 & L9, Jamaica Blocks 6, 7, 10, 11, 12 Company TOTAL S.A Acquires Interests in f d k l Kenya Blocks L5 L7 L11A

Sep-11

Kenyan acreage from Anadarko and Cove Energy TOTAL S.A Anadarko, Cove Energy plc Kenya Blocks L5, L7, L11A, L11B and L12 Project

Mar-11

Tullow Acquires Interests in Kenyan acreage from Pancontinental Tullow Oil plc Pancontinental Kenya Block L8 Project

Feb-11

Apache Acquires Interests in Kenyan acreage from Origin Energy Apache Corp. Origin Energy Kenya Block L8 Project Afren plc Acquires Black Marlin Kenya Blocks 10A, 1, L17/L18,

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Jun-10

Afren plc Acquires Black Marlin Energy Afren plc Black Marlin Energy Holdings y , , / , Seychelles A, B,C and Ethiopia Blocks 2, 6, 7, 8 Company

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SLIDE 7

Pancontinental Offshore Kenya

PANCONTI NENTAL OFFSHORE KENYA

  • Four blocks totalling > 18,000 sq km
  • Significant long term holdings in prime areas

Ethiopia Somalia

  • Major partners with successful East African track record
  • Very large prospect potential (> 1 Billion Bbls)

Somalia

KENYA

L6 - 3,100km2

Flow 60%

Pancontinental 40% L8

5 115km2

KENYA

L6

Pemba I sland Oil Seep Pate 1 Wet Gas Flow

L8 – 5,115km2

Apache 50% Origin 20%

Pancontinental 15%

Tullow 15% L8

Tanzania

Gas Discoveries (2010) Songo Songo Gas Field Oil d G Di (2010) Mnazi Bay Gas Field Gas Discoveries (2010 / 2011) Pemba I sland Oil Seep

L10A – 4,962km2

BG 40% Cove 25% Premier 20%

P i l 15%

Km 400

Tanzania

L10A L10B

0 Km 100

  • Mozambique

Oil and Gas Discovery (2010)

Pancontinental 15% L10B – 5,585km2

BG 45% Premier 25% 7

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0 Km 400

  • Pancontinental 15%

Cove 15%

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SLIDE 8

Kenya L6 & L8 Slicks

KENYA L6 & L8

  • L6 + L8 Total 8,200km2
  • Water depths 0 to 1300m &
  • nshore
  • Major Cretaceous / Tertiary geological

trough thought to be oil generating

L6

  • Prospects

associated with slicks in both areas –supporting concept of oil generation

Slicks L8 Slicks

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SLIDE 9

Kenya L8

KENYA L8

  • PCL 15%
  • 5,100 Km2
  • Water depth 0 to 1,300m
  • Mbawa drilling planned mid 2012 – PCL

free carried by Tullow

  • Farmins by Apache and Tullow 2011

SLI CKS

a s by pac e a d u o

  • New operator Apache looking at rig

availability

  • Slicks coincide with sea floor expulsion

craters

SLI CKS SLI CKS

L8

Mbawa Potential * Tertiary / Cretaceous (P10):

  • 4.9 Billion Barrels oil in place plus-
  • 284

Billion Cubic Feet gas in

* NOTE

  • Potential

volumes are Pancontinental projections and do not necessarily reflect those of other joint venture participants and may t il t b t i

place plus- Jurassic (P10)

  • 323 Million Barrels oil in place or
  • 525 Bcf in place gas cap plus--

Mbawa drilling planned mid 2012 – PCL free carried by Tullow to US$ 9 million “cap”

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not necessarily prove to be correct in the future.

Tertiary has further potential US$ 9 million cap

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SLIDE 10

Kenya L8 – Mbawa

800m WATER DEPTH KENYA L8 MBAWA PROSPECT

  • Mbawa potential >4.9 billion barrels oil
  • Dual superposed “flat spots” consistent with c.

100m gas column over c. 150m oil column Mb f ll d 3D

  • Mbawa fully mapped on 3D
  • Deeper Jurassic play has extra potential
  • Drilling planned mid 2012

TURBI DI TE AND CHANNEL TOE THRUST

MBAWA PROSPECT

CHANNEL SANDS PLAY TERTI ARY “FLAT SPOTS” TERTI ARY / CRETACEOUS “FLAT SPOT” LOWER “FLAT SPOT”

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0 Km(approx) 2 TI LTED JURASSI C FAULT BLOCKS

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SLIDE 11

Kenya L8 – Mbawa

MBAWA DRILLING

  • One

Mbawa well to about 3,500m will test multiple targets

Sea

  • Water

depths

  • f

approximately 800m & accessible with modern equipment

  • Main target- Lower Tertiary / Upper Cretaceous

S d t t U J i

Sea floor – 800m 1,000m Lamu Limestone

  • Secondary target- Upper Jurassic

Simba Shale Kipini Shale Tertiary

*

EARLY PALAEOGENE BASIN FLOOR TURBIDITE ‘FAN’ SANDS (Kipini Sands) 2 000m Cretaceous

* *

LATE CRETACEOUS BASIN FLOOR TURBIDITE ‘FAN’ SANDS (Kofia Sands) Kipini Sands Kofia Sands Kofia Shale

Primary Targets 1,800m – 2,200m

2,000m 2,140m Walu Shale

CARBONATES

Jurassic

* *

JURASSIC SANDSTONES & / OR CARBONATES (Mb o / Isalo II Sands EARLY CRETACEOUS DELTAIC SANDS (Ewaso Sands) 2,800m 3,000m Walu Shale Ewasu Sands

?

xxx ?

*

SANDSTONE SHALE SALT / EVAPORITES EXPLORATION TARGET

Jurassic CARBONATES (Mbuo / Isalo II Sands, Amboni Limestone)

Secondary Targets 2,700m – 3,400m 11

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*

EXPLORATION TARGET

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SLIDE 12

Kenya L6 Kifaru Prospect

KENYA L6

  • PCL 40%
  • 3,100 Km2
  • Water depth 0 to 300m
  • Kifaru-

main prospect adjacent to interpreted hydrocarbon kitchen / trough

  • Farming out 2011 / 2012
  • 3D over 2+ prospects 2011 / 2012
  • Drilling 2012 / 2013

KENYA L6 EXPLORATION PLAY KENYA L6 EXPLORATION PLAY

  • Lamu Basin has >10km of sediments
  • Various good quality source rocks sampled along the East African
  • margin. Many old wells intersected good oil and gas shows, with

three wells flowing gas.

  • Thick Tertiary deposition brings potential source rocks into play as

t il Mi ti th h t d di t mature oil sources. Migration pathways are short and direct.

  • Lamu Basin is part of a failed Late Cretaceous to Tertiary rift, with

good analogues with prolific oil prone Early Tertiary source rocks in India’s Bombay and Cambay basins. Cretaceous and Tertiary depocentres occur in restricted marine settings between structural highs.

KI FARU

g

  • Eocene source rock samples range up to 11% TOC and hydrogen

indices up to 688 - this interval could be an excellent oil source

  • L6 has a variety of structural leads- one trend has leads clustered
  • n either side of.
  • Almost 8tcf unrisked recoverable resource identified and mapped at

the Eocene Kipini sands level Most structures are closed in the

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KI FARU PROSPECT

the Eocene Kipini sands level. Most structures are closed in the deeper Cretaceous where additional resource potential exists. Two

  • f the main leads are Kifaru and Tembo.
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SLIDE 13

Kenya L10A & L10B

KENYA L10A & L10B

  • Two new blocks awarded 17 May 2011
  • Effective Date 17 August 2011
  • c. 10,000 km2
  • Water depth 200m to 1,800m
  • Interpreted oil “kitchen” troughs
  • Notable partners- BG Group, Premier Oil,

p p, , Cove Energy

  • “Fast Track” exploration programme
  • Strong Leads already mapped

3D & 2D i i t t N 2011

L6

  • 3D & 2D seismic start Nov 2011

L8

L10A – 4,962km2

BG 40%

L10B L10A

BG 40% Cove 25% Premier 20%

Pancontinental 15%

L10B

L10B – 5,585km2

BG 45% Premier 25%

Pancontinental 15%

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Cove 15%

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SLIDE 14

Kenya L10A & L10B – Leads

Extension of Mbawa Trend Simba Trend KENYA L10A & L10B

  • Pancontinental 15%
  • 5 Play Types

KENYA

Channel Trend

  • > 10 Leads
  • 3D & 2D late 2011
  • 2 wells 2013 -2014
  • Awarded May 2011

Mombasa L10A

y

  • 10,000 km2
  • “Fast Track” exploration

programme

  • Water depth 200m

to 1 800m to 1,800m

  • Interpreted oil “kitchen”

troughs in Blocks

  • Notable partners-

BG Group

L10B

Premier Oil Cove Energy

  • 0 Km 20

L10B

Jurassic Trend Miocene Reef T d

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Jurassic Trend Trend

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SLIDE 15

Kenya L10A & L10B – Leads

High Amplitudes + ?Phase Reversal Amplitude Shutoff

Olkaria Lead

f

Miocene reef Miocene reef Tertiary / Upper C t ti li

Rollover into Fault – Amplitude Miocene Reefs

Cretaceous anticline

Supported

KENYA L10A & L10B

Upper Jurassic reef

Upper Jurassic Reef or Mounded Basin Fl T bidit Pil

  • Pancontinental 15%
  • 5 Diverse Play Types
  • > 10 Leads
  • 3D & 2D late 2011
  • 2 wells 2013 -2014

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Floor Turbidite Pile

2 wells 2013 2014

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SLIDE 16

Namibia – I nterest is Heating Up!

  • Pancontinental has been active in Namibia for over 8 years and has an early mover advantage
  • Upsurge in industry interest in Namibia due to geological similarities with offshore Brazil
  • Recent farm-in deals and acquisitions at considerable

premiums by major oil and gas companies (BP Recent farm in deals and acquisitions at considerable premiums by major oil and gas companies (BP plc, HRT Participacoes, Chariot)

Date Anno ncement Acq i e Acq i ee I nte est I n Deal T pe Date Announcement Acquirer Acquiree I nterest I n Deal Type Aug-11

PGS Acquire 10% of Chariot's Central Blocks Petroleum Geo Services (PGS) Chariot Oil and Gas Namibia Licence 19 (covering Blocks 2312 A & B and Northern halves of 2412 A & B) Project

Aug-11

Chariot Signs Farm Out Agreement With BP BP Plc Chariot Oil and Gas Namibia Block 2714A (Licence 20) Project

Feb-11

HRT Acquires UNX Energy Corporation HRT Participacoes UNX Energy Corporation Namibia Licenses 1711A, 1711B, 2713B, 2713A, 2815, 2816, 2915, 2914A, 2814B, 2813A Company Global Petroleum Acquires

Jan-11

Global Petroleum Acquires Jupiter Petroleum's exploration interests in Namibia Global Petroleum Limited Jupiter Petroleum Limited Namibia Blocks 1910B & 2010A Company

Mar-07

Pancontinental Awarded RL1- 0037 Reconnaissance Licence Pancontinental Awarded by Namibian Government Namibia Licence RL1- 0037 Project

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Offshore Namibia Government j

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SLIDE 17

Namibia EL 0037

NAMIBIA EL 0037

  • Petroleum Agreement & Exploration Licence signed 28 June 11
  • 17,295 km2 offshore, Pancontinental 85% & Operator
  • Water depth 0 - 1,500m
  • Turbidites, ponded fans, channels in graben and slope setting

E ll t il k Fully Oil-Mature Source Rocks in “I nner Graben”

  • Excellent oil prone source rocks
  • Marginal to Early oil maturity proven in EL 0037 and-
  • Full oil maturity predicted in central “Inner Graben” in EL 0037
  • Good reservoir/seal already identified

Predicted Present-Day Maturity for Early Aptian Source Rock

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SLIDE 18

Namibia EL 0037

NAMIBIA EL 0037

  • Pancontinental 85% & Operator
  • 17,295 km2 offshore
  • Awarded June 2011
  • Water depth 0 - 1,500m
  • Turbidites, ponded fans, channels in graben and slope

NAMIBIA EL 0037

  • Excellent oil prone Source Rocks
  • Marginal to Early oil maturity proven

within EL 0037, but- ll O l d d “

setting

  • Excellent regional source rock, oil maturity and

reservoir/seal

  • Studies, seismic then drilling
  • Full Oil Maturity predicted in “Inner

Graben” in central EL 0037

  • Slick concentration over “Inner

Graben”

  • Good 2D data base
  • Highly active regional scene, with

6+ wells possible in next 18 to 24 months EL 0037

Natural Oil Seepage “Bullseye” Natural Oil Seepage Bullseye

  • ver I nner Graben in EL 0037

(Data Source : HRT)

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SLIDE 19

Namibia – Prospectivity

Breakup Unconformity to Base Tertiary I nterpretation – A package of rich oil source rocks, reservoirs and seals

EL LOCATI ON

3 Oil Source Rocks Onlapping Turbidites 4 SLOPE ENVI RONMENT Ponded Turbidites & Basin Floor Fans Early Cretaceous pp g

NAMIBIA EL 0037

5 OUTER HI GH TREND I NNER GRABEN I ncised Channels Aeolian & Shoreface Sands

  • Ponded Turbidites, Channel sands

etc seen on existing seismic data

  • Full Oil Maturity predicted in “Inner

Graben” in central EL 0037

BASI N FLOOR FAN REGI ONAL EXAMPLE I NCI SED CHANNELS REGI ONAL EXAMPLE

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SLIDE 20

Namibia – Source Rock

NAMIBIA EL 0037 Regional Source Rock Correlation and Organic Carbon Content (TOC) Carbon Content (TOC) NAMIBIA EL 0037 NAMIBIA EL 0037

  • Excellent oil prone Source Rocks
  • Marginal to Early oil maturity proven

within EL 0037, but-

  • Full Oil Maturity predicted in “Inner Graben”

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in central EL 0037

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SLIDE 21

Malta: Area 5 & Area 4 – Block 3

Malta Area 5 & Area 4- Block 3

  • “Libyan geology in Maltese

waters”

  • ESA suspended
  • Injunction being sought

against Government of Malta

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SLIDE 22

Australia – EP 110 & EP 424

EP 110 & EP 424

  • PCL – 38%
  • PCL considering divestiture of

PCL considering divestiture of asset 22

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SLIDE 23

Australia – EP 104 / R1 & L15

EP 104 / R1 / L15

  • PCL 10% /12%
  • Looking for oil on-trend to

Blina etc PCL

  • West Kora L15 oil

redevelopment redevelopment 23

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SLIDE 24

Board & Management

Mr Henry David Kennedy, Chairman

Mr Kennedy has had a long association with Australian and New Zealand resource companies. As a technical director he has been instrumental in the formation and/or development of a number of successful listed companies. These include Pan Pacific Petroleum NL, New Zealand Oil and Gas Limited (NZOG), Mineral Resources (NZ) Ltd and Otter Exploration NL. During his term as Executive Director of Pan Pacific, NZOG and Otter, these companies were involved in the discovery of a number of oil and gas fields. Th i l d d th T b id i fi ld d S th P N th H ld d Ch il il fi ld i W t A t li d th K S th d R il/ These included the Tubridgi gas field and South Pepper, North Herald and Chervil oil fields in Western Australia and the Kupe South and Rua oil/gas condensate fields in New Zealand. He is also a director of Norwest Energy NL.

Mr Roy Barry Rushworth, CEO

Mr Rushworth has more than thirty years experience in petroleum exploration. He is a graduate of Sydney University, with a Bachelor of Science Degree in Geology and Marine Sciences. Commencing with positions in exploration operations, his career then extended to a period as Chief Geologist and subsequently Exploration Manager for an Australian listed company. A number of oil and gas discoveries were made by the company during that time. subsequently Exploration Manager for an Australian listed company. A number of oil and gas discoveries were made by the company during that time. More recently, as the General Manager and Director of Afrex Limited, he was responsible for acquiring international new venture opportunities for Afrex Limited and its then co-venturer Pancontinental Oil & Gas NL. In this position he identified and negotiated projects in Malta, Kenya and Morocco. Following the merger of Afrex Limited with Pancontinental in August 2005, he accepted the position of Director - New Ventures for Pancontinental and is now the Chief Executive Officer of the Company. Mr Rushworth is a member of the AAPG, PESA, PESGB and Chatham House.

Mr Anthony Robert Frederick Maslin Non-Executive Director

Picture to come

Mr Anthony Robert Frederick Maslin, Non-Executive Director

Mr Maslin is a stockbroker with corporate experience in both management and promotion, along with an extensive understanding of financial markets. Mr Maslin has been instrumental in the capital raisings and promotion of several resource development companies.

Mr Ernest Anthony Myers, Finance Director

Mr Myers has over 30 years experience in the resources industry. He is an accountant (CPA) who has held senior management and executive roles within a number of ASX listed companies. Ernie joined Pancontinental in March 2004 as Company Secretary and was appointed Finance Director in January 2009. He brings corporate and operational experience in a variety of fields including project development, feasibility studies and both equity and debt financing. Prior to his appointment with Pancontinental, he was CFO and Company Secretary of Dragon Mining Limited for a period of six years during its transition from explorer to gold producer in Sweden. Ernie has extensive experience in exploration and operational issues particularly in K T i N ibi d E it Picture to come Kenya, Tanzania, Namibia and Eritrea.

Mrs Vesna Petrovic, Company Secretary

Mrs Petrovic has an accounting background with a Bachelor of Commerce, Major in Accounting & Business Law, she is a Certified Practicing Accountant and has completed the Graduate Diploma in Applied Corporate Governance from Chartered Secretaries Australia Ltd. Mrs Petrovic has experience in the resources sector particularly with companies involved in Africa

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resources sector, particularly with companies involved in Africa.

slide-25
SLIDE 25

Contact I nformation

Pancontinental Oil & Gas NL

G d Fl 288 Sti li St t Ground Floor, 288 Stirling Street Perth, WA 6000 Australia Australia Tel: + 61 (8) 9227 3220 6 (8) 3 Fax: + 61 (8) 9227 3211 http://www.pancon.com.au

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