Summary of ROG and why it is INSANELY undervalued, page-1799

Other

InnaminckaDome, Cooper Basin

• JV with ASX:STO (Santos)

• PRL 14, 17, 18, 180, 181, 182

• Yarrow gas field (PRL 17)

  • 2d seismic reprocessed and revised drilling location determined for appraisal well

  • Appraisal well to bedrilledlate 2021

  • Flax horizontal well to follow appraisal well results

  • Yarrow-1 discovery well and two appraisal wells encountered gas

  • 4thappraisal well to bedrilledin Q4 2021

  • Santos to fund 100% of (4th) appraisal well up to a max gross cost of A$3m and fund 100% of 50km2 of 3d seismic over yarrow gas field, up to maximum cost of A$1m

  • Subject to satisfactory appraisal outcomes, Santos to initially fund 100% of any approved development of the fields. Santos to be repaid for Red Sky's share of development expenditure out of Red Sky's share of production.

• Flax (PRL 14)

  • Has produced 180,000bblof oil from six wells before being shut down during a time of low oil prices

  • Santos to fund 100% of a horizontal appraisal well up to a max gross cost of A$5m

• Juniper (PRL18)

  • Gas and oil play

  • 3 wells penetrated but not fully understood.

  • Further subsurface work undertaken to evaluate commercial potential

• PRL 180, 181 and 182

  • Prospective and being evaluated

Gold Nugget gas field, Wyoming

• To be sold

Q4 2021

	InnaminckaDome	Yarrow gas field (PRL 17)	(4th) Appraisal well

2022?

	InnaminckaDome	Yarrow gas field (PRL 17)	Flax horizontal well, not to take place until results of appraisal well are known