ASX Release 22 February 2010 General Meeting Presentation Attached - PDF document

ASX Release 22 February 2010 General Meeting Presentation Attached is a copy of the presentation to shareholders for today’s General Meeting at 10am. A copy of this presentation will also be available on the Company’s website www.audax.com.au. Yours faithfully Gary Roper Chairman

AUSTRALIA VIENNA Romania: AMI Italy: GRPU15 Tunisia: Kerkouane & Chorbane WA Mining PEL 182 PERTH EUROPE & NORTH AFRICA

AUSTRALIA VIENNA Romania: AMI Italy: GRPU15 Tunisia: Kerkouane & Chorbane WA Mining PEL 182 PERTH EUROPE & NORTH AFRICA

CHAIRMAN’S SESSION Directors Gary Roper Chairman Wolfgang Zimmer Managing Director Andrew Childs Director Apologies Peter Ironside Company Secretary Paul Fink Technical Director 4

Proxies Received 36 proxies representing 41,724,549 shares. 5

Resolution 1 Ratification of the issue of shares “That, for the purpose of ASX Listing Rule 7.4 and for all other purposes, the shareholders ratify the issue of 35,274,219 fully paid ordinary shares in the capital of the Company on the terms and conditions set out in the Explanatory Statement” 6

Resolution 1 Proxy details: For 41,671,174 Against 53,375 Abstain Nil Open Nil 7

COMPANY UPDATE AUSTRALIA VIENNA Romania: AMI Italy: GRPU15 Tunisia: Kerkouane & Chorbane WA Mining PEL 182 PERTH EUROPE & NORTH AFRICA

TUNISIA & ITALY

June 2009: 1 mill US$ bond posted for Chorbane September 2009: Chorbane PsC signed with Tunisia October 2009: Kerkouane permit extended by one year to 21 st February 2011 January 2010: Drilling Contract for Sambuca signed with Atwood February 2010: Chorbane permit extended by one year to June 2011

TUNISIA & ITALY ASSETS Tunisia & Italy: Sicily Channel Blocks ITALY CHORBANE BLOCK 100% AuDAX ALGERIA LIBYA

CHORBANE: SIDI DAHER PROSPECT 20-80 km 2 Closure, 20 – 80 mbbls recoverable oil resource range, Tcf range deeper gas potential Objectives: Eocene Nummulitic Reservoirs Abiod Limestone 140m thick at REF-1. Potential for southwards strat trap on crest of horst Bireno is 88m at REF-1 The Zebbag is likely to be an important reservoir with 95m of good development in REF-1 Serdj Formation Lower Nara Formation is gas-bearing along strike Eocene Jurassic Chaal Field 200 bcf in Chorbane? Valued at 200 million USD (Orion Securities)

CHORBANE: SIDI DAHER PROSPECT

CHORBANE: SIDI DAHER PROSPECT Metlaoui Flat Spot SW NE Metlaoui Abiod

CHORBANE: SIDI DAHER PROSPECT • FLAT SPOT COMFORMABLE WITH STRUCTURAL CONTOURS • INDICATIVE OF GAS COLUMN OF: 70 TO 120 METERS • POSSIBLE GAS RESOURCE 160 BCF

CHORBANE: SIDI DAHER PROSPECT NEAR TOP ABIOD 25 sqkm closure SMS-1 CHAKER-1 Gore Sober DHI HKS-1 25 sqkm closure Chaal Field

CHORBANE: SIDI DAHER PROSPECT

CHORBANE: SIDI DAHER PROSPECT

CHORBANE: SIDI DAHER PROSPECT

SUMMARY CHORBANE  “ COMPANY MAKER ” OPTION POST SAMBUCA  RIGOROUS PAST WELL ANALYSIS CONFIRMS EXCELLENT POTENTIAL  SEISMIC MAPPING CONFIRMS SEVERAL VALID PROSPECTS WITH OUTSTANDING UPSIDE POTENTIAL  LOI WITH DNO: FARM – OUT Chorbane Sidi Behara  DRILL LATE 2010 Sidi El Itayem Sfax CHAKER-1 Chaal HKS-1 Mahares SIDI DAHER ABIOD PROSPECT, 25 SQKM – 40 MMBLS MEAN RESERVES

AUSTRALIA

AuDAX MINERALS AUSTRALIA VIENNA Romania: AMI Italy: GRPU15 Tunisia: Kerkouane & Chorbane WA Mining PEL 182 PERTH EUROPE & NORTH AFRICA

WESTERN AUSTRALIA MINERALS INTERESTS  Spin off Western Australia: Marymia Gold Development Area 7 K5 Area 6

ADX MOUNT WEBB SWEET SPOTS ADX Mount Webb ADX Mount Webb ADX Mount Webb Encouraging drilling results by Ashburton!

CONTACT Wolfgang Zimmer: Managing Director Paul Fink: Technical Director Gary Roper: Chairman Office: 11 Ventnor Avenue, West Perth Australia WA 6005 Ph: +61 8 9226 2822 Fax: +61 8 9226 5333 Website: www.audax.com.au Email: wolfgang.zimmer@audax-resources.com paul.fink@audax-resources.com ASX Code: ADX

DISCLAIMER This presentation contains forward looking statements that are subject to risk factors associated with the oil and gas industry. It is believed that the expectations reflected in these statements are reasonable, but they may be effected by a variety of variables 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, commercialisation, development progress, operating results, reserve estimates, loss of market, industry competition, environmental risks, physical risks, legislative, fiscal and regulatory developments, economic and financial markets conditions in various countries, approvals and cost estimates.