Empire Energy Investment Opportunity

EMPIRE energy McArthur Basin - Substantial Committed Investment Numerous farm-out deals have been carried out resulting in capital commitments of hundreds of millions of dollars by major oil and gas companies1 Year Vendor Investor WI Basin Cash Upfront Carried expenditure Acres (mm) 2011 OIL & GAS FALCON HESS 62.5% Beetaloo A$27m A$162m 6.2 2013 2014 FALCON OIL & GAS TAMBORAN Resources Limited Santos O Beetaloo / 75.0% A$10m A$71m 6.4 McArthur SASOL reaching new frontiers 70.0% Beetaloo A$20m A$185m 4.6 origin 20152 EMPIRE EMPIRE energy 80.0% AMERICAN ENERGY PARTNERS Beetaloo / McArthur A$20m A$80m A$133m 14.5 2015 75.0% armour energy McArthur / Nicholson A$31m A$173m A$133m 31.3 AMERICAN ENERGY PARTNERS • A number of large farmout deals have been carried out across the basin • Major oil companies globally recognize that the Beetaloo / McArthur Basin shales have world scale potential The lifting of the fracking moratorium and recommencement of appraisal drilling activities pave the way for a resumption of corporate activity Empire is one of the only tenement holders in the basin with 100% equity and substantial acreage footprint 1: Company filings/press releases 2. Transactions did not proceed due to passing of founder of AEP 8 00

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