Excellence in Oil and Gas Conference

1. Excellence in Oil and Gas Conference Excellence in Oil and GasConference- 5 March 2013

2. Disclaimer This document has been prepared by Phoenix Oil and Gas Limited ABN 52 134 665 366. No representation or warranty , express or implied is made by Phoenix or any other person that the material contained in this presentation will be achieved or prove to be correct. Except for statutory liability which cannot be excluded, each of Phoenix, its officers, employees and advisers expressly disclaims any responsibility for the accuracy or completeness of the material contained in this presentation and excludes all liability whatsoever (including in negligence) for any loss or damage which may be suffered by any person as a consequence of any information in this presentation or any error or omission there from. Neither Phoenix nor any other person accepts any responsibility to update any person regarding any inaccuracy, omission or change in information in this presentation or any other information made available to a person nor any obligation to furnish the person with any further information.

3. Excellence in Oil and Gas • AGENDA • Company Overview • Royalty Model • Portfolio • Recent Acquisitions • Divestment Opportunity • Summary

4. Phoenix Overview • Focussed on acquiring and creating O+G royalties since formed in late 2008 • Currently private company however listing on ASX should lower cost of capital • Diverse portfolio covering most of the important basins and play types in Australia

5. Phoenix overview (con’t) • Experienced Board • Recent investment by Anglo Pacific Group (LSE listed royalty company- GBP300M market cap) • Ability to “team up” for acquisition of larger royalties

6. Royalty Model • Benchmark is Franco Nevada (has achieved superior returns to gold equities + gold ETFs) • Most capital efficient resource exposure • Phoenix has the opportunity to own the asset class in Australia

7. Royalty Model (con’t) • Phoenix is seeking to build a diversified royalty portfolio via;- • Acquisition of existing royalties • Creation of new royalties by applying for new acreage + farming out • Creation of new royalties by funding new projects (once retained cash flows allow)

8. Portfolio

9. Portfolio Highlights • Petro China acquires 20% interest in Poseidon LNG project in Browse from ConocoPhillips • Central Petroleum farm-out with SANTOS in Amadeus • 2P Reserve build out continues in Surat (long Queensland CSM)

10. Recent Acquisitions • North Carnarvon (WA-482-P) • Western Flank of Cooper Basin (PEL 512)

11. North Carnarvon (WA-482-P)

12. North Carnarvon (con’t) • Phoenix recently acquired 0.2% royalty on WA-482-P • Karoon Energy is the operator-$96.5M program of seismic + an exploration well • 4 main prospects identified with potential for multi-TCF targets

13. Western Flank- Cooper (PEL 512) • Phoenix recently acquired a 1.3% royalty in PEL 512 • Desirable address due to success being achieved by Beach Energy in PEL 91 and 92 • High success rates in adjoining permits utilising 3D seismic • Moomba infrastructure nearby • Emerging unconventional shale story

14. Divestment Opportunity

15. Divestment Opportunity • Phoenix owns 100% of EP156 and EPA155 in the Amadeus Basin • Both permits adjoin Santos farm-out blocks (Mt Winter oil shows of interest post Surprise) • Preference is to divest to an Operator and retain royalty over the blocks

16. Summary • Phoenix is building a diversified portfolio of royalties with embedded value • A capital efficient vehicle for gaining exposure to Australian O+G • Potential LNG plays in the Browse and Surat • Recent acquisitions in North Carnarvon and Western Flank of Cooper • Open to a deal on 100% Amadeus blocks