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Investor Presentaiton

PRL 28 Activity Eaglewood ENERGY INC. Drilling and seismic programmes in PRL 21 have a significant impact on Ubuntu Definition of a water gradient in the Elevala Sandstone and fill to spill concept proven Seismic, structural and sedimentological mapping and pressure analysis shows potential for communication between Ubuntu (PRL 28) and Elevala/Ketu (PRL 21) Ketu-2 well results expected in Q2, 2012 PRL 21 Firm PRL 28 JV Firm Contingent Other Contingent Road Development 6°0'0"S 6°10'0"S 90.5 1 560000 Eaglewood Energy PAPUA NEW GUINEA BLOCK PRL 28 PRL 21 560000 259 141°400"E 580000 Gasuke ☐ PRL 2 Elevala 2 Elevala 1 Ketu 1 141°500'E 600000 142°0'0"E Ketu 2 Ubat T PRI 600" Ketu-2 6°10'0 141°40'0"E 580000 141°500 E 600000 142°0'0"E PRL 21 seismic trespass Possible Ubuntu Welltest Ubuntu Infill Seismic Ubuntu Reserves Recertification Elevala-2 28
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