Investor Presentation “A New Beginning” October 2007
Who Are Tomahawk Energy? A Brief Introduction… THE COMPANY • ASX-listed oil and gas exploration company • Recent merger with K2 Energy • Tomahawk awarded IPO of the year when listed in 2005 CORE FOCUS AREA – OKFUSKEE COUNTY, OKLAHOMA • Low cost, uncomplicated drilling in conventional reservoirs • Multiple targets in each well i.e. 6-10 formations SUCCESS ACHIEVED TO DATE • High exploration success rate • Large undeveloped reserves “behind pipe” ACTIVITY SINCE MERGER COMPLETION • Best drilling results recently achieved • 5 wells drilled since merger – 5 discoveries EXCITING EXPLORATION POTENTIAL • Aggressive exploration & development plan • Virgin 3D seismic coverage significantly upgrades potential • Over 20 targets generated • Targeting zones which have never been penetrated and should produce at strong rates THE COMPANY • Strong near term increase in production expected • Stock price now trading at all time low 2
Who Are Tomahawk Energy? Capital Structure & Share Register (1) Share Register • A$25mn market capitalization # % – Lowest share price since IPO Edwards Meadows Pty Limited 11,100,000 9.339 – Focus post merger with Tomahawk has been on setting ANZ Nominees Limited 8,796,497 7.401 the stage to deliver on operational performance Golden Words Pty Ltd 4,320,958 3.635 – Time to tell the story – a good time to invest Mr Ryan Michael Moynagh 3,157,576 2.657 Cash reserves of A$6.4mn, and no debt (2) • Blazzed Pty Limited 2,550,000 2.145 – Should deliver Tomahawk though to self-funding status – Minimal risk of future dilution Chaus Capital Pty Ltd 2,540,001 2.137 • Top 20 shareholders control 42.7% Aspen Energy Pty Limited 1,800,000 1.514 – Loyal supporter base Balander Pty Limited 1,770,000 1.489 – Stake building over the past months Ravenhill Investments Pty Ltd 1,560,000 1.313 Management controls 15.5% (20.1% diluted) (2) • Towertun Pty Ltd 1,550,000 1.304 – Motivated to deliver success Merrill Lynch (Australia) Nominees Pty Limited 1,543,473 1.299 Heenalu Pty Ltd 1,500,000 1.262 Capital Structure (1) Your Care Pty Ltd 1,500,000 1.262 ISSUED QUOTED Arkkindale Pty Ltd 1,500,000 1.262 SHARES Mrs Michelle Doro Denny 1,045,000 0.879 Fully Paid 118,854,903 118,854,903 ACAO Capital Pty Ltd 960,000 0.808 OPTIONS Mr Peter Tsu & Mr Sonny Berglund 900,000 0.757 Mr Ian Scott Robertson 900,000 0.757 31/12/08 Ex. 20 cents 12,298,000 12,298,000 Hyperion Capital Pty Limited 900,000 0.757 30/09/09 Ex. 20 cents 29,997,500 29,997,500 Moana Nominees Pty Limited 823,609 0.693 31/12/08 Ex. 70 cents 500,000 - TOTAL 50,717,114 42.670 31/12/08 Ex. 40 cents 2,000,000 - (1) As of September 26 th , 2007 3 (2) As of June 30 th , 2007
Who Are Tomahawk Energy? Board of Directors – The Experience to Deliver Sam has more than 35 years experience as a director of public and private �������������� companies. He graduated from Sydney University with a Bachelor of Economics. �������� He has been a director and significant shareholder in a number of successful companies both public and private. . ��������������� ����������������� ������������������� ������ �� ��������$��%����������������� ��&�$�'���������������� (���������'�������� ����������������� !��"�#����������� !��"�#����������� !��"�#����������� !��"�#����������� Peter was formerly a Ken has enjoyed significant Michael is a Certified In his 30 year career, Bob John has strong experience commercial lawyer and has commercial success since Petroleum Geologist with the has worked in oil and gas in general management of worked in the resource founding Electronic Banking American Association of projects in the GOM, resources and scientific exploration industry since Solutions Pty Ltd in 1998. As Petroleum Geologists. He Offshore Atlantic Margin, and companies. Most recently he 1987, with his own geo-tech Managing Director, Ken has 24 years’ experience in the North Slope of Alaska. In led the Geochemistry service companies. He has developed the business oil and gas exploration and 1988, Bob became the senior Division of an international wide commercial and before merging with Cash investment, currently as advisor to the chief geologist testing and verification investment experience in the Card Australia Limited in President of Aspen Energy, and general manager of business. He has been a oil and gas exploration 2003. Ken has been director Inc, based in Louisville, exploration, worldwide. For Director of Bank of Western industry in the United States. of Cash Card Australia Kentucky, USA. Mike has 15 years, he held various Australia and at one time led Limited and is an investor in overseen in excess of 350 oil positions including senior the Stock Exchange in Perth. many successful businesses and gas drilling ventures, exploration geophysicist with He is now a Director of in Australia and elsewhere. investing more than Sohio Petroleum (BP several private and public $50,000,000 over the past 10 subsidiary) in San Francisco. companies involved in oil and years throughout the main oil Since 1999, Bob has run a mineral services. He was and gas producing regions of successful consulting educated at University of the USA. He has highly business based out of Ojai, Western Australia in specialized expertise in California and London, Accounting and Commercial screening and evaluating England. law. drilling opportunities and in managing oil and gas investments. 4
Merger With K2 Energy Corporate Transformation Complete • Unconventional gas focus • Conventional gas focus • Growing production profile �������������� • Flat to declining production ����������������������������������� • No “on-ground” USA management • Excellent recent drilling results in both old • No operational capabilities THK portfolio and new ventures • Limited cash resources • Recent discoveries will dramatically increase production • Strong Board and management team with “on-ground” technical expertise • Ample cash to explore and develop existing portfolio ����������������������������������������� � ������������ ���������������������������� ���������������������������������������� ����������������������������������� 5
Merger With K2 Energy Transaction Rationale • K2 had solid management, good operational experience in the US, plus significant cash resources • Tomahawk had a very prospective project but lacked the necessary financial strength and operational expertise • Opportunity to lock-in tremendous shareholder value – Deploy cash reserves towards bringing existing conventional gas discoveries on stream – Drill numerous identified conventional drilling targets – Enhance production and cash flow generation – Evaluate discovered non- conventional resource – Pursue new and other existing opportunities • Australian oil & gas sector likely to undergo a major period of consolidation – Survival of the fittest – First mover advantage – Scale ensures survival – Cash flow is key 6
Operational Overview Areas of Focus: Why & Where? Alex (Texas) Okfuskee County (Oklahoma) Shary Hidden Lake (South Texas) (Texas) 7
Operational Overview Strategic Direction 1 WELL COMPLETIONS & WORKOVERS In ����������!"#$%���������������������������� • ���������� • 20+ discoveries with “behind pipe” potential • 6-10 hydrocarbon zones • Extract value from conventional reservoirs • 12 well workover program currently underway 2 EXPLORATION PROGRAM • Bad Creek - 3D seismic targets - 8 well exploration program in progress - Highly promising results • 100% success on first 3 Bad Creek wells - Priegel #1-10 (33.0%) - Patriot #1-15 (12.5%) - Patriot #2-15 (12.5%) - 4 well development program planned • Other Wells - Gayle #1 (7.8%) 3-10 Bcf - Alex #1 (7.5%) 10-24 Bcf - Shary #1 (6.8%) 1Bcf – 100 Mcfd - Shary #2 (6.8%) 2Bcf – offset to be drilled updip 8
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