Investor Presentaiton

PPL 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

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