Investor Presentaiton

Production Solan P3: near-term production growth ■ Successful horizontal well on-stream on 15 September - 2,340 feet of net sand encountered vs 2,150 feet forecast Positive signs of connectivity to water injector pressure support - Reservoir properties at higher end of expectations ■ Free-flowed at rates of up to 9.5 kbopd Production choked back to minimise excess flaring while the fuel gas and power system were recommissioned ■ P3, with the ESP online, expected to reach rates of in excess of 10 kbopd shortly -8400 -8320 -8240 -8160 -8080 PremierOil 720 800 880 960 1040 1120 1200 1280 1360 1440 1520 1600 1680 1760 1840 9250.00 9500.00- 9750.00 10000.00 $10250.00- 10500.00 9500.00 10750.00- ?? C.100ft AVT sandstone in pilot hole 975800-0 Shallow reservoir entry +0000.00 10250.00- vs prognosis provides additional sandstone Long section of near featureless massive sandstone with high porosity and permeability 11000.00 Incremental 500ft of high quality reservoir added beyond planned TD 11000 11500.00- 11750.00- 12000/00- 12250.00- Upr Solan ?? 11500.00- 720 800 880 960 1040 1120 1200 1280 1360 1440 1520 1600 1680 1760 1840 November 2020 -8080 -8160 -8240 -8320 -8400 P12

View entire presentation