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Five 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

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