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This document has been prepared by American Patriot Oil and Gas Corporation Limited (“American Patriot Oil and Gas” or “Company”). This Presentation, including the information contained in this disclaimer, does not constitute an offer, invitation or recommendation to subscribe for or purchase any security and neither the Presentation, disclaimer not anything contained in such forms the basis of any contract or commitment. This Presentation does not take into account your individual investment objective, financial situation or particular needs. You must not act on the basis of any other matter contained in this Presentation but must make your own assessment of the Company. No representation, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information contained in this Presentation, including the accuracy, likelihood of the achievement or reasonableness of any forecast, prospects, returns or statements in relation to future matters contained in the Presentation (“Forward-looking statements”). Any such forward-looking statements that are contained in this Presentation or can be implied by the same are by their nature subject to significant uncertainties and contingencies associated with the oil and gas industry and are based on a number of estimates and assumptions that are subject to change ( and in many cases are outside the control of American Patriot Oil and Gas and its directors) which may causes the actual results or performance of American Patriot Oil and Gas to be materially different from any future results or performance expressed or implied by such forward-looking statements. To the maximum extent permitted by law, none of American Patriot Oil and Gas’s, or related corporations, directors, employees, agents nor any other person accepts and liability, including without limitation arising from fault or negligence, for any loss arising from use of this Presentation or its content or otherwise arising in connection with it. This Presentation is for information purposes only and is not a prospectus or other offering under Australian law or under any others laws in the jurisdictions where the Presentation might be

• available. Nothing herein constitutes investment, legal, tax or other advice. This Presentation is not a recommendation to acquire shares and has been prepared without taking into account the

investment objectives, financial situation or needs of individuals. You should consider the appropriateness of the information having regard to your own objectives, financial situation and needs and seek appropriate advice, including, legal and taxation advice appropriate to your jurisdiction. American Patriot Oil and Gas is not licensed to provide financial advice in respect of its shares. 2

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TEXAS ASSETS AOW OWNED - OVERVIEW

Current production profile Existing Assets Peak Energy Magnolia / Burnett Total Asset Type Conventional Conventional Conventional Operator American Patriot American Patriot Various BOEPD 30 114 156 300 Reserves – Oil (mbbl) 481 238 482 1,201 Reserves – Gas (mmcf) 354 3,732 3396 7,482 Total (mboe) 540 860 1,048 2,448 EBITDA (USD) 2019E $800,000 $600,000 $1,200,000 $2,600,000 Purchase Price (USD) $1,100,000 $ 2,200,000 $ 3,200,000 $6,500,000 PV10 Value * (USD) $6,665,000 $5,540,000 $ 10,143,000 $ 22,348,000

AOW is a fully operational oil and gas producer, with a production rate of approximately 300 boepd, and 1.9 mmbbl of 1P reserves bringing total company reserves to 2.5mmbbl 1P proven reserves.

*PV 10 based on average oil prices of US$55/bbl according to independent engineering reports. ***Existing Assets: Lost Lake Goose Creek, CWS and Anasazi

SOURCES/USES

Sources

UDS $m Uses UDS $m

Debt Funding $2.2m Asset Acquisitions $6.5m Equity Funding $4.3m Total $6.5m Total $6.5m

TEXAS ASSETS OWNED – POST FOOTHILLS ACQUISITION

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We set out a pro-forma table and production profile of the group post the Foothills acquisition demonstrating the transformative nature of the transaction.

Existing Assets Peak Energy Magnolia / Burnett Foothills Total Asset Type Conventional Conventional Conventional Conventional Operator American Patriot American Patriot Various American Patriot BOEPD** 30 114 156 450 750 Reserves – Oil (mbbl) 481 238 482 2,848 4,049 Reserves – Gas (mmcf) 354 3,732 3396 7,482 Total (mboe) 540 860 1,048 2,848 5,296 EBITDA (USD) 2019E $1,000,000 $600,000 $1,400,000 $7,500,000 $10,500,000 Purchase Price (USD) $1,100,000 $ 2,200,000 $ 3,200,000 $15,000,000 $21,500,000 PV10 Value * (USD) $6,665,000 $5,540,000 $ 10,143,000 $32,914,000 $ 55,262,000

*PV 10 based on average oil prices of US$60/bbl and $2.90/gas according to independent engineering reports. **Post Completion of Capex Programme

Sources

UDS $m Uses UDS $m

Debt Funding $18.0m Refinance Bridge Facility $2.2m Foothills* $14.1m Working Capital $1.7m Total $18.0m Total $18.0m

*$900k deposit paid

Key Metrics* Net 1P Reserves 5,295 mboe Net 2P Reserves 7,032 mboe EV/2P US$3.88/boe

. *Post Close of Foothills transaction

2,123.0 23,510 516.0 6,945 209.0 2,459 2,848.0 32,914

Goose Creek Field Cleveland Field Saratoga Field

• Harris, Liberty and Hardin Counties/4,393 net acres
• Unique opportunity to acquire a PDP-heavy asset prospective for multiple oil horizons
• Stable cash flows -- long life, shallow decline oil production
• Main asset is the Goose Creek oil field with smaller assets Cleveland and Saratoga fields
• 62 producing wells; 100% operated
• Average net production: 300 Bop/d (100% oil) - generally sells at premium to NYMEX
• PUD cases: 14
• Net 1P reserves: 2.8 MMBoe (85% PD)/ Net 1P PV-10: $32.9 million (89% PD)
• Shallow historical oil production decline rate of 2.8%/year over the last 5 years with a

modest level of recompletion/drilling activity

• Low operating costs in region ~$25/bbl
• Wells are economic down to a low oil price
• Producing formations: Salt dome feature; Miocene, Marg and Frio locations
• Numerous PDNP and PUD drilling opportunities targeting vertically stacked sand packages

(~40 productive stacked pay reservoirs between 800 and 4,500 feet)

• Strategic opportunity located nearby Lost Lake/Goose Creek OTEX Resources acquisition

AOW made in 2017

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• Gulf Coast Non Operated sale
• 19 active wells
• Calhoun, Hidalgo, Jefferson, Liive Oak, Matagorda,

Willacy Counties

• Producing from multiple formations
• Vertical & Directional Drilling.
• Behind Pipe & New Drill Upside.
• Varying NonOperated WI & NRI.
• Net Production: ~102 BOED
• Total Proved Reserves: 663 MBOE
• Total Proved PV10: $3,819,000

149 765 2,473 174 1432 4,934 159 1199 2,736 482 3396 10,143

• South East Texas non operated properties
• 32 active wells, 4 injection, 15 inactive
• Polk, Tyler, Jasper, Hardin county
• Yegua and Wilcox formations
• Producing from multiple formations and

intervals

• PDNP and PUD upside
• Varying WI and NRI
• Net Production 50boped
• Total Proved Reserves: 386mboe
• Total Proved PV10: $6,324,000

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• Harrison, Gregg, Rusk and Upshur Counties
• Deep East Texas Oil and Gas production assets
• Production is: 39 boepd and 630 mcfd gas (post restart shut in production and re-works)
• 1P Proven reserves: 859 mboe; US$5.5m PV10; US$22m revenue
• Operating costs in this region are a low ~$20/bbl so the wells are economic down to a

low oil price

• Producing formations: Cotton Valley, Travis Peak and Pettit
• Producing wells: 17 gas wells/21 oil wells
• 43 leases holding 4,000 net acres
• Numerous PDNP and behind pipe drilling opportunities

213 1,846 3,068 25 1,886 2,472 238 3,732 5,540

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ASX: AOW, OTCQB: ANPOF 9 July 2014 $0.024 614,557,563 188.1m (ex $0.045/expiry Sept 2019) listed 80m (ex $0.025/expiry June 2020) unlisted * 30m (ex$0.05/expiry August 2021) unlisted $14.7m $0.4m $3.2m $17.5m 23 Oxford Street Pty Ltd 15.07% Defender Equities Pty Ltd and Woodville Super Pty Ltd 19.56%

*Expiry is 18mths following repayment of loan expected December 2018

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Top 40 Shareholders Other Shareholders

Top 40 Shareholders 68%

• Low cost / distressed conventional producing assets
• Fully funded – Equity and Debt funds
• Low decline / long life
• Acquisition strategy targeting 3,000+ boepd by end 2019
• Grow Production and Reserves
• Focus on low cost workovers/recompletions
• Drive cost savings and efficiencies
• Dual List NASDAQ
• Exit after three years sale to MID Cap oil or Private Equity
• Repeatable model

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Mr Pirera is a graduate of Monash University where he obtained a Bachelor of Business (Accounting) and is a Fellow of the Certified Practising Accountants with more than 30 years of experience in public

• practice. Mr Pirera has a wealth of

experience in financial control and management and strategic planning having advised numerous public and private companies throughout his career. David Shaw is a Melbourne University law graduate. He is currently a practising solicitor with his own firm, Campbell & Shaw Lawyers. As a director on a number of private company and advisory boards and has a long history with the Australian Football League (AFL) being the Essendon Football Club President from 1992 to 2002 in addition to the former Commissioner of the AFL. David is a Non-executive Chairman of Ambassador Oil and Gas Limited. Mr Melosi is a Southern Illinois University geology graduate with more than a decade of experience in the oil and gas industry. Prior to joining American Patriot, Nick worked with medium to large cap companies such as Marathon Oil and Gas, Sanchez Oil and Gas, Carrizo Oil and Gas and BHP Billiton. He is an operations, development and acquisitions geologist with operations and development experience in over 250 horizontal wells across US plays. Nick has experience in development and engineering driven drilling projects, has performed reserve analysis on multiple acquisitions and has been involved with multiple workover projects. Mr Clark is a graduate of the University of Adelaide where he

• btained a Bachelor of Economics

and Commerce. Alexis was appointed MD and CEO of American Patriot in early 2014. Prior he was an Oil & Gas Analyst at Merrill Lynch and Patersons Securities covering small to mid cap

• il & gas companies.

Alexis has had more than 15 years experience in the Institutional banking and finance sector where he held positions at Westpac Institutional Bank, GE Capital and ANZ Banking Group, working on transactions across the Energy & Resources and Infrastructure client base.

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Email Mobile aclark@ap-oil.com +61 401 626 014 +1 303 419 8434

1400 16th Street, Suite 400, Denver Colarado, 80202 USA

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Summary Reserves Position - Net AOW Oil Gas PV10 Oil Gas PV10 Oil Gas PV10 Oil Gas PV10 Asset mbbl mmcf US$ (000) mbbl mmcf US$ (000) mbbl mmcf US$ (000) mbbl mmcf US$ (000) mboe Peak Energy 213.0 1,846.5 $3,068.0 24.7 1,885.8 $2,472.0 237.7 3,732.3 $5,540.0 859.8 Foothills 2,123.0 $23,510.0 516.0 $6,945.0 209.0 $2,459.0 2,848.0 0.0 $32,914.0 2,848.0 Magnolia & Burnett 149.0 765.0 $2,473.0 174.0 1,432.0 $4,934.0 159.0 1,199.0 $2,736.0 482.0 3,396.0 $10,143.0 1,048.0 Lost Lake/Goose Creek 226.6 102.9 $2,891.9 226.6 102.9 $2,891.9 243.7 Anasazi & CWS 157.2 251.2 $2,766.0 96.8 0.0 $1,007.4 254.0 251.2 $3,773.4 295.9 Total 2,642 2,863 $31,817 1,038 3,421 $18,250.3 368 1,199 $5,195.0 4,048 7,482 $55,262.3 5,295 Total PDP PDNP PUD

Oil Gas Oil Gas Asset mbbl mmcf mboe mbbl mmcf mboe Peak Energy 237.7 3,732.3 859.8 237.7 3,732.3 859.8 Foothills 2,848.0 0.0 2,848.0 4,585.0 0.0 4,585.0 Magnolia & Burnett 482.0 3,396.0 1,048.0 482.0 3,396.0 1,048.0 Lost Lake/Goose Creek 226.6 102.9 243.7 226.6 102.9 243.7 Anasazi & CWS 254.0 251.2 295.9 254.0 251.2 295.9 Total 4,048.3 7,482.4 5,295.4 5,785.3 7,482.4 7,032.4 2P 1P

Reserves based on Third Party Engineering reports please refer Competent Persons Statement in Appendix slide 33 Mboe means thousands barrels of oil equivalent (BOE) with a BOE determined using a ratio of 6,000 cubic feet of natural gas to one barrel of oil 6:1 conversion is based on an energy equivalency conversion method and does not represent value equivalency MMcf means millon standard cubic feet MMboe means million barrels of oil equivalent AOW’s net Reserves have not been adjusted for fuel or shrinkage (estimated at approximately 3%) and have been calculated at the wellhead (which is the reference point for the purposes of Listing Rule 5.26.5).

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Property Name of Engineer Organisation Date of Report Foothills Chris Cantrell Independent Consultant March 1, 2018 Peak Energy Greg Hibbard Terra Petro LLC January 16, 2018 Magnolia & Burnett Ryan Price POCO LLC June 1, 2018 Lost Lake and Goose Creek Kim Galjour Petro Partners Inc September 14, 2017 Anasazi Kim Galjour Petro Partners Inc July 25, 2017 CWS Ryan Price POCO LLC October 31, 2017

The information in this report that relates to the oil and gas reserves was prepared by the following Independent Engineers. All are members of The Society of Petroleum Engineers (SPE). The reports have been prepared using definitions and guidelines consistent with the 2007 Society of Petroleum Engineers (SPE)/World Petroleum Council (WPCI)/American Association of Petroleum Geologists (AAPG)/Society of Petroleum Evaluation Engineers (SPEE) Petroleum Resources Management System(PRMS). The reserves in this report are based on and fairly represents, information and supporting documentation reviewed by the following qualified Petroleum Engineers. The individuals mentioned below have consented to the publication of the reserve and estimates for each of the assets in the form and context in which they appear in this announcement.

This document has been prepared by American Patriot Oil and Gas Ltd ("AOW"). This document contains certain statements which may constitute "forward-looking statements". It is believed that the expectations reflected in these statements are reasonable but they may be affected by a variety of variables and changes in underlying assumptions which could cause actual results or trends to differ materially, including, but not limited to: price fluctuations, actual demand, currency fluctuations, drilling and production results, reserve and resource estimates, loss of market, industry competition, environmental risks, physical risks, legislative, fiscal and regulatory developments, economic and financial market conditions in various countries and regions, political risks, project delays or advancements, approvals and cost estimates. American Patriots operations and activities are subject to regulatory and other approvals and their timing and order may also be affected by weather, availability of equipment and materials and land access arrangements, including native title arrangements. Although American Patriot believes that the expectations raised in this document are reasonable there can be no certainty that the events or operations described in this document will occur in the timeframe or order presented or at all. No representation or warranty, expressed or implied, is made by American Patriot or any other person that the material contained in this document will be achieved or prove to be correct. Except for statutory liability which cannot be excluded, each of American Patriot, its officers, employees and advisers expressly disclaims any responsibility for the accuracy or completeness of the material contained in this document and excludes all liability whatsoever (including in negligence) for any loss or damage which may be suffered by any person as a consequence of any information in this document or any error or omission there from. Neither American Patriot nor any other person accepts any responsibility to update any person regarding any inaccuracy, omission or change in information in this document or any other information made available to a person nor any obligation to furnish the person with any further information. All dates in this document are for calendar years. All references to $ are in USD, unless stated otherwise.

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We have employed a reserve-based approach to the valuation of the subject interests which currently have production or activity. Oil and gas mineral interests can be valued based on a projection of revenues received from the oil and gas volumes that are likely to be recovered from the properties in the future. Such volumes are called “reserves” and fall into several subcategories, as further described in the attachment entitled “Petroleum Reserves Definitions”. Such projected volumes must be commercially recoverable to be classified as reserves. Reserves associated with producing wells are categorized as proved developed producing reserves. The value of the wells in this evaluation was determined on this basis. Additional value exists in the undeveloped or behind pipe categories for the subject ownership. Valuation for these reserve categories was performed using guidelines set forth by the Society of Petroleum Evaluation Engineers. Economics for the reserves identified in the producing properties described above were modeled using revenue and net interest information. The future pricing applied represents the five-year NYMEX strip as of May, 2018, with price differentials and product shrinkages calculated from the actual received revenue data. Lease operating expenses were calculated on a per month per well basis and were applied in the model for the purposes of calculating economic producing limits. State of Texas severance taxes and estimated local property taxes have been deducted from the revenue streams. The consequences of federal income taxes have not been considered in this evaluation. The historical data used in this study was sourced from the Texas Railroad Commission through various commercial data suppliers. Tables of economic calculations displaying all significant parameters are attached for all cases. We have estimated the fair market value of the producing reserves as the 10% discounted value of the projected future revenue streams, 75% of the 10% discounted value for Proved Behind Pipe reserves and 60% of the 10% discounted value for Proved Undeveloped reserves. Cash flows in this report were determined on a monthly basis and compounded annually. The discount factor and adjustments are considered a reasonable value metric considering the risks involved, including but not limited to poorer-than-anticipated results, commodity market price variations,

• perator decisions and mechanical failure.

Net Present Worth at 10% (NPW-10) NPW -10 figures are net present value of future net revenue, before income taxes and using a discount rate of 10%. The estimated future net revenue values utilised do not necessarily represent the fair market value of American Patriot oil and gas properties. All evaluations of future net revenue in this presentation are after deduction of royalties, drilling and development costs, production costs and well abandonment costs. Financial projections including Earnings before income tax depreciation and amortisation (EBITDA) projections in this announcement are based on detailed financial modelling using a discounted cash flow analysis and include assumptions on oil and gas prices, discount rate, production estimates, reserve life estimates, operating cost estimates, capex estimates and taxation

• assumptions. These estimates and assumptions are subject to change and as additional information becomes available these estimates are likely to change and impact these financial
• projections. As a result these estimates of future EBITDA and other estimates are, by nature, forward looking statements and subject to the same risks as other forward looking estimates.

Specific key assumptions used to generate these estimates are as follows: Reserves and production estimates are based on the Independent Petroleum Engineering estimates and are based on the determinisitic estimation method

• The oil price assumption used in the reserve analysis is NYMEX strip pricing and scenario analysis of $50/bbl flat, $60/bbl flat and $70/bbl plus or minus differentials. For the 2019

EBITDA estimate we have used the current spot oil price of USD$ 60/bbl and USD$3.20/mcf gas price

• Operating costs were based on 2017 actuals
• The existing PDP, PDNP and PUD estimate are based on the production from all operated and non-operated wells
• The 5 year capex development plan is based on development of the PDNP reserves using workovers, recompletions and restarting shut in wells.
• Type curves are based on historical production data
• Average royalty payments are based on each individual field and is approximately 20%
• Standard Advalorem and Production taxes to production in the State of Texas
• No new drilling is assumed to target the PUD 1P reserves or new drilling to target the 2P Reserves

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