48 cents oer share , page-6

Stage 3 ‐ Accelerate Exploration & Commercialise Assets ? Current Stage
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TSX Listing
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Substantial increase exploration expenditure
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Liquids production for early cash flow
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Pedirka Ultra‐Clean Fuels Project, UCG & GTL partners being sought to fund BFS for 1st stage 60,000 BPD building to 3 million BPD
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Conventional/Unconventional Oil, Gas, Helium, Coal ? promoted farmouts and carried JVs under discussion
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Natural gas value adding to liquids (GTL/LNG)‐longer term
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Conventional coal (open cut and underground) and possible CTL liquids ?in discussion with parties
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Capital Program
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Immediate program of $30 million over the next 12 months
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Three well drilling program planned for 2011
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Amadeus Basin
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Surprise‐1 re‐entry targeting a 10 million barrel P50 UOIIP opportunity
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Mt. Kitty‐1 condensate and gas targeting 2.0 TCF P50 UGIIP, (100 BCFG Helium)
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Pedirka Basin
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Madigan‐1 oil targeting a 4.0 billion barrels P50 UOIIP
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3D seismic over any discoveries
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Following 12‐24 month program of $80 to $100 million
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Three conventional/unconventional wells at Surprise or additional three wells on another liquids discovery (subject to success)
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Four unconventional wells and seismic over three blocks in the Southern Georgina Basin with unconventional oil focus
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Four conventional/unconventional commitment wells in the Amadeus and Pedirka Basins
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Regional 2D seismic in the Amadeus and Pedirka Basins and focused 3D on any conventional discovery