David Evans, Acting Chief Operating Officer7th Annual AACC Energy Conference - Houston

An Introduction to Drillsearch

Energy and the Cooper Basin

February 2015

Building a Significant Mid Tier Company in the Cooper Basin

DRILLSEARCH AACC ENERGY CONFERENCE2

Only ASX 200 Company Offering Pure Cooper Basin Exposure

• Cooper Basin = 130,000km2

• Drillsearch acreage = 22,700km2

History of Production Growth

DRILLSEARCH AACC ENERGY CONFERENCE3

0.2 0.1

0.4

1.1

3.4

0.0

0.5

1.0

1.5

2.0

2.5

3.0

3.5

4.0

FY2010 FY2011 FY2012 FY2013 FY2014

Pro

du

ction

(mm

bo

e)

Australia’s third-largest onshore oil producer

Production Growth

Australian Onshore Oil Producers (Q1FY2015) Average daily production*

13,009

9,463

8,148

4,130

1,228

-

2,000

4,000

6,000

8,000

10,000

12,000

14,000

Beach Santos Drillsearch Senex Cooper

Pro

du

cti

on

(b

op

d)

Australian Onshore Oil Producers - average daily production (previous quarter)

* Source: September Quarterly Production Reports/ASX Announcements

Self-Sustaining Business Model

DRILLSEARCH AACC ENERGY CONFERENCE4

Oil provides the horsepower for Wet Gas and Unconventional in the near term

Oil– Maintain and grow

production while replacing reserves

Wet Gas – Grow reserves and production commercialise

new and existing discoveries

Unconventional

– Optimise spend to deliver

value drivers

Oil storage on the Western Flank

Unconventional Drilling in ATP 940

Wet Gas Extended Production Test

Australia’s Premier Onshore Oil and Gas Address

DRILLSEARCH AACC ENERGY CONFERENCE5

• Producing oil and gas since the 1960’s

• More than 2,000 wells drilled and more than 300 fields discovered

• Significant production and transportation infrastructure

• Pipelines to major population centres

Operating Environment

DRILLSEARCH AACC ENERGY CONFERENCE6

• Area spanning 130,000 km2

• 1,000 km from a major population centre (Adelaide), 1,500km from Brisbane

• Roads mostly unsealed

• Santos maintains 5,000 km of roads across the Basin

• Sealing of the Strzelecki Track under consideration

Road upgrade supported by Drillsearch in ATP 940

Cooper Basin aerial view - 2011

• Two airports connecting to state capitals – Moomba and Ballera

• Innamincka airstrip being upgraded

• Truck time from Adelaide to Moomba, 18 hours; including over 450km of dirt road

HEAD OFFICE

LEVEL 18

321 KENT STREET

SYDNEY NSW 2000

PH: +61 2 9249 9600

FX: + 61 2 9249 9630

E: ADMIN@DRILLSEARCH.COM.AU

W: WWW.DRILLSEARCH.COM.AU

Please contact for further information

DUDLEY WHITEGM – CORPORATE COMMUNICATIONS