Bounty Oil and Gas NL Presentation to QUPEX Tattersalls Club - PowerPoint PPT Presentation

Bounty Oil and Gas NL Presentation to QUPEX Tattersalls Club Brisbane 2 August 2016 ASX Code: BUY Philip F Kelso - CEO Gas Plant Songo Songo Island

Disclaimer/Competent Person 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 affected by a range of variables which could cause actual results or trends to differ materially, including but not limited to: product price fluctuations, actual demand, currency fluctuations, geotechnical factors, drilling and production results, oil and gas commercialisation, development progress, operating results, engineering estimates, 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. All references to dollars, cents or $ in this document are Australian currency, unless otherwise stated QUALIFIED PERSON’S STATEMENT • The petroleum Reserve and Resources estimates used in this report and ;the information in this report that relates to or refers to petroleum or hydrocarbon production, development and exploration; Is based on information and reports prepared by, reviewed and/or compiled by the CEO of Bounty, Mr Philip F Kelso. Mr Kelso is a Bachelor of Science (Geology) and has practised geology and petroleum geology for in excess of 25 years. He is a member of the Petroleum Exploration Society of Australia and a Member of the Australasian Institute of Mining and Metallurgy. • Mr Kelso is a qualified person as defined in the ASX Listing Rules: Chapter 19 and consents to the reporting of that information in the form and context in which it appears. 2

ASX Listing Rules – Chapter 5 Reserves and Resources ASX LISTING RULES 5.25 – 5.45 • All Bounty Oil & Gas NL (Bounty) petroleum Reserves and Resources assessments follow guidelines set forth by the Society of Petroleum Engineers – Petroleum Resource Management System (SPE-PRMS). Bounty is compliant with recent listing rule changes for reporting of estimates as defined in Chapter 5 of the ASX Listing Rules. INFORMATION REQUIRED UNDER CHAPTER 5 OF ASX LISTING RULES - THIS ASX RELEASE For the purposes of Chapter 5 estimates of petroleum oil volumes presented in this release are: • Reported at the date of this release • Determined as an estimate of recoverable resources in place unadjusted for risk • Best Estimate Prospective Resources • Unless otherwise stated estimated using probabilistic methods Reported at 100% net to Bounty • • If specified as" boe" then they are converted from gas to oil equivalent at the rate of 182 bbls ≡ 1 million standard cubic feet of gas • The estimated quantities of petroleum that may potentially be recovered by the application of a future development project relate to undiscovered accumulations. These estimates have both an associated risk of discovery and a risk of development. Further exploration, appraisal and evaluation is required to determine the existence of a significant quantity of potentially moveable hydrocarbons. 3

Bounty Oil & Gas NL – Gas Production Base - Low Risk Oil Upside Bounty revenue expected to re-bound strongly in 2017 with Tanzanian gas sales after group oil revenue for the year down to $1.35 million (2015: $1.91 million) impacted by lower oil prices. Major gas pipeline and plant construction at Kiliwani North (KN) completed and plant on stream at 20 -25mmcfd. Take or pay Gas Sales Agreement in place. KN field anticipated to contribute revenue additions of $2.5 million in 2016/2017. Production should increase to 500 BOED with revenue lifting to over $4 million pa. 4

Bounty Oil & Gas NL – Additional Oil Production Base Bounty has increased its exposure to operated low risk oil Australian appraisal and development projects for 2017 and beyond. Has acquired controlling interest in development/appraisal targets:- Bounty has now gained 100% control of PL 2 Alton – Surat Basin, and 82% of outer PL2 Kooroon JV Block – will place Alton wells on stream with EOR and drill Eluanbrook 2 an updip appraisal of the Eluanbrook 1 oil and gas well. Bounty reviewing possible increase to interests in Rough Range (proven oil and new prospects with ~500,000+ bbl potential). 5

Bounty Oil & Gas NL – Growth Projects Major Growth Projects:- Australia – Oil: AC/ P 32 Azalea: 500 MMBBL target Permit in good standing until 2017 with farmout efforts continuing as E&P projects under pressure. Tanzania Gas: As production revenue accrues in Tanzania Bounty will participate in Significant 3D Seismic Surveys to image 1 – 2.3 TCF gas plays in the east Nyuni PSA. 6

What we are Going to Discuss Corporate • Financials • Projects Production, Development and Appraisal • Production • Development/Appraisal Rough Range • Existing Pools • Near Field Exploration Growth • AC/P 32 • Nyuni (Tanzania) Deepwater Exploration 7

Corporate and Financials Current cash at 30/06/2016: $1.76 million • • Current assets: $1.99 million • Balance sheet underpinned by conservatively valued reserves/resources • Many projects in the pipeline ASX Code BUY As at 1 August -16 52 Week Price Range $0.007 to $0.014 Shares Quoted 953,400,982 Options all series Nil ASX Closing Price $0.010 Market Capitalisation $9 million Net Assets as at 30 June 2015 $22.72 million 8

Projects • Production: Oil and Gas sales now $1.35 million pa and will lift Bounty’s to +$4 million pa in 2017. • Core Development/Appraisal and Exploration: PL2 Alton (Surat Threefold Basin QLD), Rough Range (WA) newly identified upside to known pools, Cooper (QLD) near field and oil behind pipe opportunities Strategy • High Impact Exploration: targeting company-maker projects in Australia and Africa 9

Production – Naccowlah (BUY 2%) Naccowlah Production BUY Share bopdc 50.00 45.00 40.00 35.00 30.00 25.00 20.00 15.00 10.00 5.00 0.00 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 Jul-15 Production – in well optimisation and cost effective maintenance have maintained production at ~30-40 bopd so far in 2016 Optimisation on hold , declining oil prices have forced capital investment only in rapid pay back operations BUY sees production remaining relatively steady in 2017/16 • In recent years additional production has been from new fields - Irtalie East, Cooroo North West and Watson West • Additional near field exploration targets available in Watson/Wandilo Area 10

Tanzania - Production Commenced Old Gas Plant New Gas Plant   Kiliwani North  Kiliwani North • Kiliwani North Tanzania gas production fully on stream at a rate of ~25 million cu feet /day (455 barrels of oil equivalent Tanzania – BUY per day) net to Bounty • All facilities operating and gas sales agreement in place 9.5% 11

Tanzania Production - Kiliwani North Gas Field Connecting Gas Pipeline to Project Field pipeline connected and on stream. Metering equipment in place. The field contains ~44 BCF in place of which it is estimated 28 BCF (2.8 BCF net to BUY) is recoverable Initial production slated at 25 MMcf/day. Full commissioning due to occur on 30 July 2016. 12

Oil appraisal - PL2 Alton Bounty has sold PL214 Utopia and acquired full control of PL2 Alton Oilfield. It also holds 50% of the surrounding ATP754P. 13

Oil appraisal - PL2 Alton Oilfield History Discovered in August 1964 by Union Oil 14

Oil appraisal - PL2 Alton Regional Location Denison Cooper Basin Cabawin Roma Alton Moonie 15

Oil appraisal - PL2 Alton Oilfield General  Alton PL2: 100% Bounty Oil & Gas  Asset acquired in 2016 from Bridgeport Energy ex Santos  Mature field developed by 10 wells  Produced 2 mill bbls light oil  All wells were on Beam Pump  Located 370km west of Brisbane  Approx. 90km from Moonie  Surat/Bowen Basin: Early Jurassic Evergreen Formation  As operator Bounty will move to very low cost production using PL46 Facilities 16

PL2 Alton 2008 Reserves Review * 1P 1P 2P 2P 3P 3P OOIP (MMbbls) OOIP (MMbbls) 10.106 10.106 12.173 12.173 14.408 14.408 EUR (MMbbls) EUR (MMbbls) 3.032 3.032 3.165 3.165 3.314 3.314 RF (%) RF (%) 30% 30% 26% 26% 23% 23% Cumulative Cumulative 2.029 2.029 2.029 2.029 2.029 2.029 Production Production (MMbbls) (MMbbls) Reserves (MMbbls) Reserves (MMbbls) 1.003 1.003 1.136 1.136 1.285 1.285 * Santos Limited Parameters based on “Production Enhancement Evaluation Study of the Alton Field,” Halliburton 1998. Additional volumes added after drilling of Alton 7 in western part of the field. 17