#1Eaglewood Energy Papua New Guinea EAGLEWOOD ENERGY INC. INVESTOR PRESENTATION April 2012#2Forward Looking Information EAGLEWOOD ENERGY INC. Certain statements contained in this presentation may constitute forward-looking statements. These statements relate to future events or the Corporation's future performance. All statements other than statements of historical fact may be forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe" and similar expressions. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. The Corporation believes that the expectations reflected in those forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this presentation should not be unduly relied upon by investors. These statements speak only as of the date of this presentation and are expressly qualified, in their entirety, by this cautionary statement. In particular, this presentation contains forward-looking statements, pertaining to the following: supply and demand for oil and natural gas; the quantity of resources; capital expenditure programs; development of resources; treatment under governmental regulatory and taxation regimes; and expectations regarding the Corporation's ability to raise capital. This presentation also contains disclosure with respect to contingent resources. "Contingent resources" means those quantities of petroleum estimated, as of a given date, to be potentially recoverable from known accumulations using established technology or technology under development, but which are not currently considered to be commercially recoverable due to one or more contingencies. Contingencies may include factors such as economic, legal, environmental, political, and regulatory matters or a lack of markets. It is also appropriate to classify as contingent resources the estimated discovered recoverable quantities associated with a project in the early evaluation stage. There is no guarantee that such resources will ever be classified as reserves. Furthermore, estimates of resources always involve uncertainty, and the degree of uncertainty can vary widely between accumulations/projects and over the life of a project. Readers are also advised that there is no certainty that it will be commercially viable to produce any portion of the resources. With respect to forward-looking statements contained in this presentation, the Corporation has made assumptions regarding, among other things: the Papua New Guinea legislative and regulatory environment; the impact of increasing competition; and the Corporation's ability to obtain additional financing on satisfactory terms. The Corporation's actual results could differ materially from those anticipated in these forward-looking statements as a result of the risk factors set forth below and elsewhere in this presentation: volatility in the market prices for oil and natural gas; uncertainties associated with estimating resources; geological, technical, drilling and processing problems; liabilities and risks, including environmental liabilities and risks, inherent in oil and natural gas operations; incorrect assessments of the value of acquisitions; and competition for, among other things, capital, acquisitions of reserves, undeveloped lands and skilled personnel. The forward-looking statements or information contained in this presentation are made as of the date hereof and the Corporation undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable securities laws. 2#3Corporate Profile EAGLEWOOD ENERGY INC. Eaglewood is a Canadian public junior oil and gas exploration company focused in Papua New Guinea Offices in Canada, Papua New Guinea and Australia TSX Venture listed Debt Cash Trading symbol 52 week high/low Recent Price Market Capitalization Shares outstanding Stock Options outstanding Performance Warrants Management & Director Ownership EWD $0.40/$0.15 ~$0.30 ~CDN $27MM None ~$8mm 87.5 MM Basic, 99 MM FD - widely held 5.7 MM options - Average price $0.66 6.2 MM - average price $1.19 ~ 20% 3#4Eaglewood Energy Inc. • • . . EAGLEWOOD ENERGY INC. Papua New Guinea junior oil and gas exploration company with excellent upside potential 14,500 sq km land base over five significant concessions one discovery and large hydrocarbon volume potential. - PNG experienced technical and operating team. Excellent working relationship with PNG government and other PNG operators Most active junior in PNG, very active, fully funded 2012 program 4#5Eaglewood Energy Inc. Ray Antony (Chair) Board of Directors Eaglewood ENERGY INC. Stan Grad Mark Sarssam Brad Hurtubise Controller & Interim CFO Diana Moes Calgary CEO Brad Hurtubise Calgary Country Manager Bruce Apana PNG President & COO Mike McGowan Australia Subsurface Manager Gavin Douglas Australia Experienced Board and Management 5#6PNG Business Environment BRUNEL INDONESIA 135 120 PHILIPPINES Pacific Ocean TIMOR-LESTE AUSTRALIA JPDA 1.000 + TIMOR-LESTE AUSTRALIA Southern Ocean PAPUA NEW GUINEA ме EAGLEWOOD ENERGY INC. Proven, prolific hydrocarbon province Under-explored Significant international LNG interest Close to SE Asian markets - Commonwealth country - - Parliamentary democracy English language and English common law - - Excellent and stable fiscal terms 2% Government royalty PNG government has 22.5% back-in right upon equalization of sunk costs Income tax 30% Tasman Sea NEW ZEALAND - 9#7Five Licences over three petroleum trends EAGLEWOOD ENERGY INC. PNG has three petroleum trends with different levels of risk and potential. TERTIARY BASIN TREND Frontier region High risk, very high potential reward PAPUAN BASIN FOLD BELT TREND Proven trend with producing oil and gas fields Contains multi TCF structures - Hides/Juha, Elk/Antelope WEST PAPUA PACIFIC OCEAN BISMARCK SEA PPL 258 PAPUA NEW GUINEA PPL 260 PPL 259 PRL 28 PAPUAN BASIN TERTIARY BASINS FOLD BELT PAPUAN BASIN FLY PLATFORM GULF OF PAPUA Port Moresby PAPUAN BASIN FLY PLATFORM TREND AUSTRALIA Multiple gas and condensate discoveries Smaller structures Lower risk, lower cost CORAL SEA SOLOMON SEA PPL 257 7#8PNG Discovery History PPL258 P'NYANG 2-3 TCF JUHA 2.7 TCF STANLEY ab 0.5 TCF PPL260a ELEVALAI KETU 1 TCF UBUNTU 0.1 TCFE PUK PUK/DOUGLAS 0.8 TCF ° ७ HIDES 6.7 TCF ANGORE 1.2 TCF -MORAN 44 MMBBL SEG 35 MMBBL KIMU 0.7 TCF AGOGO 75 MMBBL KUTUBU 227 MMBBL _GOBE 80 MMBBL ELK/ANTELOPE 9.1 TCF G PANDORA ~1 TCF EAGLEWOOD ENERGY INC. Source: Oil Search; PNG Dept. of Petroleum and Energy; Morgan Stanley 0 200km 8#9PPL 257 - Cape Vogel Basin Multi-TCF prospect sizes will support a major stand-alone LNG project Pmean resource estimate 6.5TCF* P50 resource estimate 6.13TCF* 5 year licence extension granted Nov 2011 Eaglewood has 100% interest PACIFIC OCEAN Kumasi North masi South Buna West Northe INDONESIA PPL 258 PPL 260 PRL 28 PPL 259 FLAT SPOT BISMARCK SEA PAPUA NEW GUINEA PPL 257 GULF OF PAPUA AUSTRALIA Port Moresby CORAL SEA *Fekete Associates Inc. Sept 2010 Buna EAGLEWOOD ENERGY INC. Goodenough -1 6#10PPL 260 Highlands Oil Search: Esso: Nippon Oil: EWD: 50% Operator 20% (30%)* Telefomin 20% 10% (0%)* RL 3 * Esso has exercised their option to buy EWD's remaining 10% for $3.5mm subject to Government approval PACIFIC OCEAN INDONESIA PPL 259 PPL 258 PPL 260 PAPUA NEW GUINEA BISMARCK SEA PPL 257 GULF OF PAPUA Port Moresby CORAL SEA AUSTRALIA 刊 Phyang APPL 294 Tum Kopiago PPL 260b Englewood Energy Muerto EAGLEWOOD ENERGY INC. Korka-1 SVL4 SMLS Porgera PPL 260a Eaglewood Energy Koroba PPL 259 www "New Guines Energy Juha + Lavand EST Power Line FOL Tan Hides Hides GTE Plant PRL 5 Horizon PRL 2 Ebarch PRL 28 O Search Kelu Kauf 13477 Wendy Fagwood Energy PRL 12 Oil Search Angole Santhipparses) Cils + 52ke PPL 236 Ligrala PPL 259a Englewood Energy SE Mananda SOUTHERN HIGHLANDS Mendi New Moran PFL 231 AU Search PPL 215 Hedinia gogo araga L * 10#11- PPL 259 the heart of the developing Forelands gas play EWD (operator): Horizon Oil: Mega: * 65% (40%)* 25% 10% (35%) subject to confirmation of financing and Government approval EWD has announced two farmouts of 25% each with Horizon and Mega . In addition to paying their 25% interest, each pays $2.5mm for sunk costs, $1.375mm of EWD seismic expenses and $5mm of EWD drilling expenses INDONESIA PPL 259 EAGLEWOOD ENERGY INC. PACIFIC OCEAN PPL 258 BISMARCK SEA PPL 260 PAPUA NEW GUINEA AUSTRALIA PPL 257 GULF OF PAPUA Port Moresby CORAL SEA Eaglewood's 2012 seismic and drilling program is fully funded 11#12°30'0"S 9250000 PPL 259 - Gas Fairway 9400000 1°30'0"S 9350000 6°0'0"S 9300000 141°0'0"E 55141130'0"E 60000142°0'0"E 650000 142°30'0 Tum ull f sark Tarim P Nyang Nyang t PPL 294 5°30'0' P'nyang South Stanley Siphon 1,2,4 RPL2596 PRL4 PPL 268 PPL 269 Ketu 1,2 PRL 5 Eleva Elevala 1,2 PPL2598 Ubuntu PPL 296(a) Muller 1 PPL260b PPL 296(b) Balat PRL 2 PPL 239 Lavani 9350000 6°0'0"S • 9300.000 6°30'0' Eaglewood Energy PAPUA NEW GUINEA BLOCK PPL 259 Western Province Discoveries Author Date: 7°0'0"s fence Version No MAPPING PARAMETERS 7-ER WEES GRID UTV WGS T SCALE FACTO 141°0'0"E 55141130'0"E PPL 261 Puk Puk PPL 235 Douglas Douglas T Langia 650000 142°30'0"E 9250000 7°0'0"S PPL 288 60000142°0'0"E EAGLEWOOD ENERGY INC. • • • 12 out of 13 wells in Forelands intersected hydrocarbons, including all five drilled in the past 12 months Ten discoveries and/or commercial wells PPL 259 prospects along-trend from multiple discoveries PPL 259 is the "sweet spot" of the gas condensate fairway 12#13PRL 28 Summary . • EAGLEWOOD ENERGY INC. Located in Papuan Basin Foreland, originally part of PPL 259 Ubuntu-1 gas and condensate discovery drilled Q1, 2011 3 discoveries, 2 successful appraisal wells in close proximity PRL 28 awarded December 2011 for a five year term PPL 269 New Guinea Energy JV Participation % Siphon 1, Stanley Juha 3 Juha Stanley PPL 259b Horizon PRL 4 PRL 5 Horizon Eaglewood (Operator) 40% Eaglewood Energy Kiunga PRL 28 Drimdenasuk Ketu 13km Ubuntu Eaglewood Energy Talisman 30% 42km 7km 5.1km Ubuntu Kiunga Tevala 1 Hevala Mitsubishi 20% 220km Mega 10% PPL 259a 13#140009268 EAGLEWOOD ENERGY INC. 599200 600000 600000 601600 602400 603200 604000 604800 605600 9323000 9324000 $325000 Ubuntu-1 • Suspended as a gas condensate discovery in Feb 2011 Mean Hydrocarbon in Place of 128 BCFE (Gaffney, Cline & Assoc. Mar 2012) Good quality Elevala reservoir, capable of commercial flow rates • Liquids rich gas condensate • column, with a GCR of ~51 bbls/MMScf Potential for further resource increase Filled-to-spill concept proven by recently drilled Elevala-2, but not incorporated into Gaffney Cline's volumes 000 ZEG 9320000 0006166 317970 Matu-1 $325000 3300- $325000 9324000 $323000 8322000 5321000 9320000 $319000 599200 600000 600800 601600 602-400 603200 604000 604600 605600 1:50000 14#15Ubuntu compared to it's neighbours.... • EAGLEWOOD ENERGY INC. Ubuntu-1 reservoir properties similar to nearby offsets Property Ketu-1 ST1 Elevala-1 Ubuntu-1 Net Pay (m) 7.0 11.5 8.0 Net Pay Por (%) 18.0 15.5 14.6 Net Pay Sw (%) 39.0 32.5 41.0 % Inerts 7.8 6.7 Mobility from RDT -100 >100 (mD/cP) Hydrocarbon 0.421 0.418 4.9 Up to 3,560 (4 points >1,000) 0.420 gradient (psi/m) Ideal CGR* 25 64 Welltest Not tested 11.9 MMscf/d gas & 624 BPD condensate, 1/2" choke from the Elevala Sandstone Unit (57bbl/mscf). AOF of 60mscf/d 51 Not tested to date 15#16PRL 28 Activity Schedule 2011 Q4 EAGLEWOOD ENERGY INC. Q1 Ubuntu G & G Studies Feb 2011 to Q4 2011 2012 2013 Q2 Q3 Q4 Q1 Ubuntu Appraisal Seismic Complete Dec 2011 PRL 21 Seismic eastern extent of the Ketu field evaluated, possible encroachment into PRL 28 PRL 21 Elevala-2 Appraisal Well obtain regional acquifer data, test fill-to-spill concepts PRL 21 Ketu-2 Appraisal Well test oil leg and fill-to-spill concepts Recertification of PRL 28 Resources include Ubuntu field & poss Ketu field encroachment Ubuntu Appraisal EWT contingent on Ubuntu seismic, PRL 21 results & road build Elevala and/or Ketu Field Development Planning contingent PRL 21 results PRL 21 Firm Elevala and/or Ketu Petroleum Development Licence - Government Submission Deadline As per licence documentation PRL 28 JV Firm Contingent 16#17PPL 259 Prospectivity increased • . . . • • EAGLEWOOD ENERGY INC. Ubuntu confirms basement drape structural trap style, continuity of reservoir sands and liquids rich gas as common features of the license. Elevala-2 validates fill-to-spill concept and material gas volumes in the east of the licence Stanley wells confirm lateral continuity and excellent quality of reservoir sands in the west of the license Ketu and Elevala may be in communication with Ubuntu Successful 2010/11 seismic program Fully funded 2012 seismic program to identify drilling location(s) for a well in Q4 2012. 17#18150"S 9300000 9320000 9340000 6°0'0"S PPL 259 Seismic Acquisition 520000 141°15'0"E 540000 450"S _0000996 Stanley West Ekelesia Eaglewood Energy PAPUA NEW GUINEA BLOCK PPL 259 Seismic Program Stanle Stanley-2 Rumginae Klunga 1 141°30'00000 Nama Malisa Drimdenasuk Kiunga 520000 141°15'0″E 540000 141°30'00000 Discovery Prospect Lead Herea EWD10.0 EAGLEWOOD ENERGY INC. . • . . Drill ready prospect(s) by the end of Q2 2012 Delineation of Stanley West to aid unitisation negotiations Focussed in the west of the licence: higher probability of larger volumes, infrastructure, proximity to Stanley Development. Consider the east opportunities when PRL 21 development uncertainties addressed 18#19Stanley Field (PRL 4) unitisation update • EAGLEWOOD ENERGY INC. DPE instruction to conduct unitization by voluntary agreement prior to PDL application • Recent Stanley Field • • reserves upgrade (mean contingent resources of 361 bcf of gas and 11.4 million barrels of condensate) Operator announced Stanley FID and a likely PDL application in Q3'12, increasing the value to PPL259 Seismic over "Stanley West" planned Apr 2012 Expect unitization process complete by end Q3 2012 354000 0353000 3352000 351000 350000 9349000 0348000 347000 9346000 3200 3150 PPL 259 0 Manley-1 Portion of Stanley Pool in PPL 259 3000 3000 Stanley-2/2H. 3050 3000 3000- 3000- 3050 3150- 000 3050- 3100 3100 30503 3100 10 3100 3100 PRL 4 3100 3150 3100 Source: Horizon Oil, Dec 2010 0 1 2 Kilometres $16000 517000 518000 519000 520000 521000 522000 523000 524000 525000 526000 527000 528000 19#20PPL 259 Activity Schedule 2012 Q1 Q2 Q3 Q4 Q1 Q2 Stanley West Seismic Apr 2012 Stanley FID Jan 2012 (PRL 4 JV) Stanley Unitisation Negotiation H1, following addtional Stanley seismic 2013 EAGLEWOOD ENERGY INC. 2014 Q3 Q4 Q1 PRL 4 Firm PPL 259 JV Firm Contingent Stanley Production Development Licence Award (approx) Q3 2012 PPL 259 Seismic Phase 1 Apr 2012 PPL 259 Seismic Phase 2 Stanley First Condensate (approx) Q1 2014, subject to internal and Gov approvals May-Jun 2012 (subject to results of Phase 1) PPL 259 Wellpad Construction Jul-Sep 2012 (subject to results of seismic) PPL 259 Well Oct-Dec 2012 (subject to seismic and rig availability) 20 20#21Talisman Mitsubishi JV 141°E PRL 28 E $280mm value Mitsubishi has farmed into 9 TLM licenses, including EWD-operated PRL28 The other licences involved surround EWD acreage The deal adds capital and LNG expertise to TLM'S monetisation plans for the area Eaglewood PNG commercial map_Mar2012 WEST PAPUA PPL 259 PPL 269 PRL 4 PPL 259 PPL 268 50km PRL 21 Strickland PPL 261 PPL 239 PPL 235 WESTERN EAGLEWOOD ENERGY INC. 143°E EAGLEWOOD ENERGY INC Key PNG TENL-Mitsubishi JV | Eaglewood Energy PAPUA NEW GUINEA 6°S PRL 8 21#22Possible PNG LNG access . Exxon and Oilsearch are currently drilling P'nyang South appraisal well in PRL 03 Large enough to justify a pipeline to the PNG LNG project for the third LNG train Very straightforward to build a short connecting line from PRL 28 and PPL 259. WEST PAPUA Tedi Sawmill Flats Ningerum Proposed location of condensate production facility Stanley-1 Stanley-2 Stanley 4 Hawenai Siphon-1 STANLEY Tope Bridge PRL3 Pnyang 2 p'nyang 1 Priyang 2/ST3 P'nyang 2/ST1 P'NYANG Phyang 2/ST2 PPL 259b PRL4 Proposed Kiunga-1X pipeline route Elewala | Kiunga, Proposed location of condensate storage facility Drimdenasuk Proposed location of condensate load out facility Fly River 40km River PRL21 EAGLEWOOD ENERGY INC. Possible P'Nyang to Juha Gas Condensate pipeline PPL269 PAPUA NEW GUINEA Ketu-1 Tingu KETU Ke-2 Proposed) Ubuntu-1 Elevala PRL28 UBUNTU Flevala-1 ELEVALA 50km Wewak MAP AREA oll pipelvis PAPUA NEW GUINEA Madang Daru Port Moresby 500km JUHA PRL2 Juha 3 Baia PPL239 Juha 2 Juha 1 Honinabi PPL239 Nomad Proposed road upgrade PPL259a Debepare PPL268 LEGEND Gas/Condensate Field Prospect Lead Petroleum Retention Licence Licence Boundary Oil and Gas Discovery Oil and Gas Shows Roads/tracks Township + Airfields 20km Strickland River + Waro 22 222#23Share Price History Eaglewood ENERGY INC. 0.34 0.32 3 Months 0.30 0.28 0.26 Лик Eaglewood Energy Inc 0.24 +0.01 +4.00% May 09 February 2012 +0.04 +15.38% March 2012 -0.06 -20.00% April 2012 0.35 0.30 0.25 0.20 0.15 12 Months Eaglewood Energy Inc -0.08 -26.79% -0.03 -14.63% May 09 Jul 2011 Oct 2011 سار +0.13 +71.43% Jan 2012 Apr 2012 23#24Implied Valuation Metrics EAGLEWOOD ENERGY INC. PRL 28 volumes* Total "in place" resources: 96.2 BCF gas 5.28 mmbbl condensate Net to EWD: 38.5 BCF gas and 2.11mmbbls condensate Typical "in the ground" metrics**: gas ranges from $0.30 to $0.50/mcf condensate range from $5.00 to $8.00/bbl Implied value range is $22mm to $36mm, or $0.25 to $0.41/share PPL 259 acreage Horizon and Mega farmout terms require them to each pay $15.2mm in cash and carry to earn 25%, or $600k per 1%. Implied value of EWD's 40% is $24mm, or $0.27/share Cash balance -$6mm or $0.07/share after 2012 seismic and drilling costs TOTAL IMPLIED VALUE: $0.60 to $0.75/share plus 2012 well result * Gaffney Cline Associates, March 2012 ** FirstEnergy Capital, Cormark Securities, Macquarie Equity Research, DNB Markets 24#25Multiple Value Catalysts EAGLEWOOD ENERGY INC. PPL 259: • . Phase 1 Seismic complete mid-May, Phase 2 by end Q2 Stanley unitisation negotiations concluded prior to Stanley PDL award, expected Q3 2012 Drilling Program (target/pad selection, well design) kicked off Q3 2012, spud well in Q4 2012 Ketu and Elevala fields may be connected to Ubuntu The Exxon/Oilsearch P'nyang South well now drilling may justify a P'nyang tie-in to the PNG LNG Project, thereby introducing an alternative market for Forelands gas PPL 257 - further potential farmout activity 25 25#26Summary Eaglewood ENERGY INC. PAPUA NEW GUINEA Underexplored, proven hydrocarbon province Excellent fiscal regime, LNG-led resource boom EAGLEWOOD POSITIONED FOR GROWTH IN 2012 . . Multiple drilling targets and exploration opportunities Fully funded 2012 seismic and drilling program Multiple high value activities around PPL 259 and PRL 28, including PPL 259 well to be drilled in Q4 2012 Potential participation in the soon to be developed Stanley field. 26#27Additional Slides Eaglewood ENERGY INC.#28PRL 28 Activity Eaglewood ENERGY INC. Drilling and seismic programmes in PRL 21 have a significant impact on Ubuntu Definition of a water gradient in the Elevala Sandstone and fill to spill concept proven Seismic, structural and sedimentological mapping and pressure analysis shows potential for communication between Ubuntu (PRL 28) and Elevala/Ketu (PRL 21) Ketu-2 well results expected in Q2, 2012 PRL 21 Firm PRL 28 JV Firm Contingent Other Contingent Road Development 6°0'0"S 6°10'0"S 90.5 1 560000 Eaglewood Energy PAPUA NEW GUINEA BLOCK PRL 28 PRL 21 560000 259 141°400"E 580000 Gasuke ☐ PRL 2 Elevala 2 Elevala 1 Ketu 1 141°500'E 600000 142°0'0"E Ketu 2 Ubat T PRI 600" Ketu-2 6°10'0 141°40'0"E 580000 141°500 E 600000 142°0'0"E PRL 21 seismic trespass Possible Ubuntu Welltest Ubuntu Infill Seismic Ubuntu Reserves Recertification Elevala-2 28#29Other Activity Upgrade road through PPL 259 Managing the upgrade of the Drimdenasuk to Nomad road passing through PPL 259 on behalf of the Western Province Government Engineering Feasibility Study commenced Transformational health, economic and educational benefits for people throughout the licence area 141 100E Siphon 1 EAGLEWOOD ENERGY INC. 141°20000 141°30'00000 141'40'0E 500000 141*500°E 600000 142°0'0"E 820000 142'10'0'E 640000 5*500*S Stanley f Staniay Star Rumginae Long 6°00'S 5*100"S Kiunga denasuk Kiunga Prospec D Prospect I Kow 1 Ketu 2 Gasuke Elevale Eevale npactn Ubuntu 1 Tiamobi 5500 6°0'0" Bebelubi 6100 Raggan hew O Ragguna New ad Debepare Ragana New Load 02 ad oneers 5200 Eaglewood Energy PAPUA NEW GUINEA BLOCK PPL 259 Discoveries, Prospects. and Leads Racpiana New Lead_04 6:200 141°10'0°E 141°20000 141°30'00000 141°40'0'E 580000 141 500E 600000 142°0'0"E 820000 142°100'E 640000 29 29#30Management & Officers Brad Hurtubise, CEO Eaglewood ENERGY INC. Twenty years experience in energy investment banking and operating oil and gas companies. Executive MD at Tristone Capital and BMO Nesbitt Burns, CEO of Grad and Walker Energy, CEO of Westcastle Energy Trust, Executive Vice- President and CFO of Direct Energy Marketing Limited. Mike McGowan, President & Chief Operating Officer Engineer with 22 years of upstream international oil and gas experience with British Petroleum, Santos Ltd. and Oil Search Limited. Extensive experience in PNG dating back to 1992 with BP. Prior to joining Eaglewood, spent 4.5 years as Drilling Manager for Oil Search in PNG. Diana Moes, Controller & Interim Chief Financial Officer CMA with 27 years experience in a variety of management accounting roles. Prior to joining Eaglewood Energy, spent 4 years with Artumas Group Inc., a public international oil and gas company. 30#31Key Management Gavin Douglas - Subsurface Manager EAGLEWOOD ENERGY INC. Geologist with an MSc in Reservoir Evaluation and Management. Over 14 years of SE Asian and Middle Eastern upstream experience, including a 10 year association with Oil Search as Senior Development Geologist and more recently, PNG Well Delivery Team Lead. Bruce Apana - PNG Country Manager PNG citizen and a lawyer. Prior to Eaglewood, Bruce spent five years with Oil Search following a period of commercial work in private practice. Extensive experience working with PNG petroleum regulations. Good access and excellent working relationships with all the relevant government departments in PNG. Gerard Manggal - PNG Technical Coordinator PNG citizen and geologist. Prior to Eaglewood, Gerard was with the Department of Petroleum and Energy for 7 years and then with MRDC for 6 years. Extensive experience working with PNG petroleum regulations and government officials. 31