Empire Energy Investment Opportunity

Beetaloo Basin - Amungee Discovery Well1 EMPIRE energy Amungee NW-1H, the first fracked horizontal well in the Beetaloo Basin, flowed at similar rates to the US wells that commercialised shale in 1998... Flow rates are almost certain to improve as completion designs are optimised Key Highlights • Drilled in Dec 15 - TD 3,808m, incl. 1,100m horizontal section in the B Shale of the Middle Velkerri formation I • . • Hydraulically fracture simulated in Nov 2016 11 Hydraulic stimulation stages completed across approx. 600m 95% of programmed proppant placed Successful production test in February 2017 Av TOC ~4%; Porosity 4% to 7.5%; Permeability 50 to 500 nD IP averaged 1.10MMscf/d over 57 days Final production rate 1.07mmscfd Cumulative production 63mmscf Estimated dry gas composition of 92% methane, 3% ethane, 5% carbon dioxide 2C Contingent Resource Estimate is 6.6TCF (486,000 acres) Amungee NW-1H flow rate in relation to 1998 US shale wells² The S.H. Griffin #4 produced 1.3million cubic feet of natural gas per day for the first 90 days, an unbelievable amount for the time. Steinsberger, in an interview with The Atlantic, said, "This was the 'aha moment' for us, it was our best well ever in the Barnett, and it was a slick water frack. And it was my baby!" This was a revolutionary moment, marking the beginning of modern-day fracking in shale as we know it. Since the S.H. Griffin, more than a hundred thousand wells have been fracked in the United States, and most of them use a technique similar to what was first done in the Barnett Shale. Steinsberger had finally figured out how to get shale rock formations to give up their natural i gas and do so in an economical way. L 1: Falcon Oil & Gas, Origin Energy 2. Extract page 7 - An Energy Fracking Revolution: 35 Years of Fracking in the Barnett Shale - How North Texas Fracking Turned America into an Energy Superpower (1 June 2016) • • Kalala S-1 Amungee NW-1 GR Res Gas show GR Res Gas show 2,000m C B B A 2,600m A 3 organic rich shale intervals (A, B & C shales) within the Middle Velkerri Formation Gross thickness of mid-Velkerri up to 500m with net pay in B & C shales >30m each • Average TOC 3% to 4% Favorable geo-mechanics for hydraulic stimulation 20% to 25% overpressure, excellent for volumetric and reservoir productivity Good porosity and gas storage 10

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