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INVESTOR PRESENTATION

November 2013

PNG Company Number 1-63551

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The information contained in this Company Update Presentation has been prepared in good faith by Kina Petroleum Limited, and no representation or warranty, express or implied, is made as to the accuracy, correctness, completeness or adequacy of any statements, estimates, opinions or other information contained in this Investor Presentation. To the maximum extend permitted by law, Kina Petroleum Limited, its Directors, officers, employees, consultants and agents disclaim any and all liability for any loss or damage which may be suffered by any person through the use of or reliance on anything contained in or omitted from this Investor Presentation. This Investor Presentation does not constitute financial advice. In making an investment decision investors should rely on their own examination of the information and consult with their own legal, tax, business, financial and other professional advisers in making an investment decision. Certain information contained in this Company Update Presentation, including any information on Kina Petroleum Limited's plans for future financial or operating performance and other statements that express management's expectations or estimates of future performance, may constitute forward-looking statements. Such statements are based on a number of estimates and assumptions that involve significant elements of subjective judgment and analysis which may or may not be correct, and while considered reasonable by management at the time, are subject to significant business, economic and competitive uncertainties. Kina Petroleum Limited cautions that such statements involve known or unknown risks, uncertainties and other factors that may cause the actual financial results, performance or achievements of Kina Petroleum Limited to be materially different from Kina Petroleum Limited's estimated future results, performance or achievements expressed or implied by those statements. Resource estimates within this presentation represent the estimated quantities of hydrocarbons that may potentially be recoverable, with any recovery dependent on future development. Further evaluation is required to determine the existence of a significant quantity of moveable hydrocarbons.

Disclaimer

Competent Person Statement

The technical information contained in this presentation is based on information compiled by Mr Richard Schroder (Managing Director). Mr Schroder has more than 30 years experience within the industry and consent to the information in the form and content in which it appears.

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PNG focussed growth pathway

Slide 3

Objective: Creation of value through organic

growth across multiple play types.

Strategy: Development of existing resources.

Farmout exploration assets.

Implementation: PRL 21 development First liquids late 2016/early 2017

Exploration Farmouts PPLs 337, 338, 339 and 437 done

Others in 2014 For

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Commercial Quantity of Resources – PRL 21

PRL 21 has 2C contingent resources (Elevala and Ketu) of 173 mmboe, of which 26* mmboe is net to KPL:

6 mmbbls of condensate

120 bcf of gas

Tingu resource expected to be similar to Elevala/P50 pre-drill estimates: c. 92mmboe* (14 mmboe* net to KPL)

Gross combined 2C + P50 Tingu resource is 1.2 TCF of gas and 63.2 mmbbls of liquids

Dominant position in Western Province wet gas play

Development acreage: PRL 21 progressing through development studies

Exploration acreage: 7 licences with proximity to recent discoveries

Market cap. of $A 112m (at 18 November, 2013)

230m shares on issue, of which 107m are escrowed until Dec 2013.

$7.7m cash on hand at end of September.

No debt

Financial and Operational Summary

Slide 4

* Subject to government back-in

Large Acreage Footprint 41,000km2

Capital Structure and Financial Strength

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Material upside through presence in multiple play types

Slide 5

KPL Acreage covers:

Multiple geological play

types

PNG hyrdrocarbon

spectrum

Wet gas upside in PPL 437,

adjacent to PRL 21

discoveries.

Oil and wet gas upside in

southern part of Western

Papuan Basin.

Wet gas potential adjacent to

Elk/Antelope resource –

estimated size between 4.5

and 9 TCF.

Dry gas in North and East

with ready markets – mining

and local population centres. For

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Value Matrix Underpinned by PRL 21, but material exploration upside

Slide 6

Current PRL 21 PRL 21 Existing risked Valuation* Western Prov. Forelands Eastern

Price Liquids Gas Expl'n value Oil / Wet Gas Gas Gas

PPLs 435 - 437 PPLs 338 & 339 PPLs 337 & 340

*Source: BBY

0.50

1.00

1.50

Exploration

PRL 21

KPL Share Price

Development Activity

Risked

ExplorationExploration UpsideF

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Value Accretive Activity

Slide 7

Tingu well announced as a discovery on 2 October 2013.

Tingu and Ketu 2 production tested. Liquid to gas ratios of 50-60 bbls/mmcf.

Development planning for PRL 21 liquids in progress PDL award in Q1 2014 and FID during the year.

High calibre JV partners – Osaka Gas, Talisman, Mitsubishi, Horizon Oil

Farmout deals with Heritage announced for PPLs 337 and 437. Carry through seismic and wells.

PPL 337 focussed on local energy markets – expressions of interest received from local power users.

PPL 437 is adjacent to PRL 21 discoveries – clear path to commercialisation of any discovery.

Seismic over potential Triceratops extension in PPL 338 is complete. Indications expected by end 2013/early 2014 with a drill decision from Oil Search expected in Q1 2014.

Delineation of prospects and leads in PPLs 435 – 437 recently completed.

Aeromagnetic/gravity studies in PPL 340 nearing completion, with aerial surveys in PPLs 435 & 436 shortly to commence.

Development Licence – PRL 21

Exploration Licences

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2014 Catalysts for growth and re-rate

Slide 8

PRL 21 – PDL Application for Elevala, Ketu and Tingu fields.

PRL 21 - FID on liquids project.

PRL 21 – confirmation of resource size for Elevala, Ketu and Tingu

PPL 337 - Drilling of two wells.

PPL 338 – decision by Oil Search to commit to a well based on recent seismic over possible triceratops extension.

PPLs 435 & 436 – completion of Aeromag/gravity and farmout.

PPL 437 – completion of seismic with view to drilling.

TIMING

End of Q1

During 2014

First Half

To commence late Q1/early Q2.

During Q1

Q2/Q3

Q2

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Future Production Asset - PRL 21 Papuan Basin

Slide 9

Proven play type located in Western Province.

Contains the commercial wet gas discoveries of Elevala, Ketu and Tingu.

Elevala and Ketu gross resource size:

2C liquids of 40.1 mmbbls

2C gas of 795 bcf

Tingu discovery was drilled in Sept/Oct 2013. Resource estimate expected to be similar to Elevala/pre-drill estimate c. 415 bcf and 23.1 mmbbls.

Proceeding to PDL award and FID status in 2014 for liquids stripping project.

Close proximity to PRL 4 – development learnings to be applied to PRL 21

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50

100

150

200

250

Dec-11 Mar-12 Jun-12 Sep-12 Dec-12 Mar-13 Jun-13 Sep-13

Rebased to 1

00

KPL

Brent

Small cap conventional

Small cap unconventional

Large cap (+24%)

Mid cap (+9%)

Share Price Performance

Slide 10

Share price has more than doubled since float.

Brent, small, mid and large cap and mid cap returns range from c. 8% - c. 36%.

Source: UBS

150.0%

36.3%

23.9%

20.3%

8.8%

4.1%

(50%) 0% 50% 100% 150% 200%

KPL

Small cap conventional

Large cap

Brent

Mid cap

Small cap unconventional

KPL has outperformed all key ASX indices

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Value Proposition

Slide 11

Valuation based Elevala, Ketu and Tingu pre-drill estimates.

Source: UBS

Valuation based on Elevala and Ketu only.

KPL is undervalued relative to ASX listed mid

and small cap E&P peers

19.5 15.5

8.2 6.3

3.2 2.8

2.2 0.8

17.3 13.6

11.7 8.1

6.8 5.4

2.6 1.3 1.2 1.0

0.2 — — —

0 5 10 15 20 25

AuroraDrillsearch

BuruHorizon

AWEBeachSenex

KaroonOtto

CooperNZOG

NidoRoc

NexusKinaCueTap

CarnarvonMEO

Empire O&GPan Pacific

New Guinea

EV/2P + 2C (A$/boe)

19.5 15.5

8.2 6.3

3.2 2.8

2.2 0.8

17.3 13.6

11.7 8.1

6.8 5.4

3.6 1.3 1.2 1.0

0.2 — — —

0 5 10 15 20 25

AuroraDrillsearch

BuruHorizon

AWEBeachSenex

KaroonOtto

CooperNZOG

NidoRoc

NexusKinaCueTap

CarnarvonMEO

Empire O&GPan Pacific

New Guinea

EV/2P + 2C (A$/boe) For

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Exxon Mobil PNG LNG project is on time – first

production in 2014

Elk/Antelope and Triceratops opening up new plays in

East Papuan basin.

Deal with a Supermajor is imminent for Interoil.

Exxon, Shell and Total actively investigating the

exploration and LNG potential of PNG.

Santos has farmed into PPLs 261 and 426.

Osaka Gas has farmed in to PRL 21, along with PRL

4 and PPL 259.

Tingu 1 well in PRL 21 is a discovery.

Heritage Oil plc is establishing a significant footprint.

PNG: Exploration and Development Project Success Continues

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Experienced Management Team

Slide 13

Mr. John Prendiville – Non Executive Chairman

20+ years providing corporate finance – Macquarie Bank. Previously head of Macquarie’s Global Resources Group. Extensive experience in M&A, IPO’s and project development

advising corporates both large and small around the world BSc (Hons) Royal Military College, Duntroon and MBA

Mr. Richard Schroder – Managing Director

Australian and International oil and gas exploration - 35+ years experience UK and Norwegian North Sea, Africa, Indonesia, PNG, NZ and onshore and offshore Australia, 20 + years

experience as operator in PNG , 13 wells in PNG and Papua Province Indonesia. Managed junior companies & majors such as Santos (Exploration Manager, South East Asia) (BSc,

Geophysics, University of Sydney)

Mr. Barry Tan – Non Executive Director

March 2009 appointed Executive Director-35 years commercial experience in PNG. Chairman of the TST Group of Companies that span property development, supermarket franchises in

PNG, Starland Freezer, Tanpac and Kokoda Tailoring, Strong cultural ties, Extensive PNG commercial network

Dr. Ila Temu – Non Executive Director

Director of Corporate Affairs Australia Pacific for Barrick PNG, Chairman of PNG Ports Corporation, Non Executive Director of Bank South Pacific Limited, President of PNG Chamber of

Mines and Petroleum, Director of BSP Bank Port Moresby, Director BSP Capital Port Moresby and Council Member at Divine Word University. Previously Managing Director at MRDC,

GM at Placer Niugini Ltd, Country Manager at Placer Tanzania Ltd and Country Manager at Barrick (PNG) Ltd PhD University of California, USA

Mr. Alex Mitchell– Chief Financial Officer

Chartered accountant with 20 years of experience in ASX listed organisations in both Corporate and Business unit roles. 13+ years experience in upstream E&P Finance and Operations

management covering PNG, Middle East, Australia, South East Asia and USA. Working background also spans Chartered Accounting, Insurance, Property and Construction industries.

Bachelor of Economics (Macquarie University) .

Mr. Ian Longley – Consultant geologist and Technical Adviser

25+ years experience for companies such as Shell, Woodside, and as a Senior executive of Oil Search. New business development skills South Korea, South Brecknock, Browse Block,

Great Australian Bight. Significant hands on experience in all major hydrocarbon provinces in Australasia, PNG, Indonesia, Malaysia and Vietnam. Recognised world expert on the

Petroleum Geology of Australiasia. Currently a senior lecturer for the industry based on Petroleum geology of SE Asia training course

Mr. John Chan – PNG Operations and Community Affairs Manager 30+ years commercial experience in PNG, Joined Kina Petroleum in Jan 2009 Great understanding of the PNG culture, people & Government Responsible for local matters.

Mr. Shane Hartwig – Company Secretary, Australia

15+ years in Australia and international finance industry. Debt and equity capital markets, IPOs, capital raising, Prospectus and Information Memorandum, preparation Project

management, Company assessments and due diligence reviews, MSA and general corporate advice. Certified Practicing Accountant and Chartered Company Secretary,

Bachelor of Business Degree (Accounting and Taxation) from Curtin University of Technology in western Australia.

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Potential addition to nearby developments Papuan Basin - PPL 437

Slide 14

* Across multiple targets in the licence. Further evaluation is required to determine the existence of

hydrocarbons, with recovery dependent on potential future development.

Located in the Western Province bordering PRL 21.

Targeting proven Elevala and Toro wet gas play in multiple prospects at similar depths to Elevala, Ketu and Stanley

Lies between Elevala, Ketu & Stanley (south) and Juha & P’nyang (north).

Commercially attractive because of capacity to tie into PRL 21 facilities

Farmout to Heritage Oil plc recently completed. Carry through:

100+ km of Seismic

Drilling and testing of well

Licence area is twice that of PRL 21

Seismic program to begin early 14

Resource size* is estimated to approximate PRL 21 fields.

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Growth Asset – PPL 337 North New Guinea Basin

Slide 15



Located in northern PNG targetting dry gas.

Reef and clastic targets

Farmout to Heritage Oil plc recently completed. Carry through:

2 wells

Appraisal seismic

Kwila and Raintree locations identified for drilling.

Access by road, and close to Madang

Letters of intent received from nearby mines to take gas.

Multi TCF target sizes*

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Growth Asset – PPL 338 Eastern Papuan Basin

Slide 16

Located at basin edge with wet gas potential.

Adjacent to Elk/Antelope discoveries

Extension of proven reef play.

Existing farmout arrangements with Oil Search:

Aeromag and 2 rounds of seismic already acquired. Cost borne by Oil Search;

Oil Search to partly carry Kina through a well

Aeromag and Seismic program over possible extension of Triceratops field is in progress => drill decision from Oil Search expected Q1 2014.

Triceratops is likely to be well drilled in late 2014.

Nipa prospect also a drillable target

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Slide 17

Located at basin edge with wet gas and possibly oil potential.

Adjacent to Elk/Antelope discoveries

Extension of proven reef play.

Existing farmout arrangements with Oil Search.

Aeromag and 2 rounds of seismic already acquired. Cost borne by Oil Search;

Oil Search to partly carry Kina through a well.

Initial Seismic Acquired 2011

Seismic is complex due to recent structuring.

Aeromag program to recently completed. For

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Located in the east of PNG, close to Port Moresby.

Untested play type, but late Miocene to Pliocene reefs evident on nearby seismic

Target is dry gas for power generation into Port Moresby.

Aeromag program has commenced

May be followed by seismic and a well.

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Growth Asset – PPL 435 Southern Papuan Basin Edge

Slide 19



Located in the Western Province adjacent to the PRL 21 licence which contains the Elevala and Ketu discoveries.

Targeting wet gas in multiple leads

Wet gas confirmed in nearby Lake Murray 1 well.

Aerogravity program to begin in 2H 2013.

Commercially attractive because of access to Fly River and Aiambak port

Late Cretaceous sandstone targets with secondary targets of Darai limestone and Elevala/Toro sandstones.

Prosepctive resources sizes* are multi TCF gas targets and oil targets of several hundred million bbls.

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Growth Asset – PPL 436 Southern Papuan Basin Edge

Located in the southern part of the Western Province.

Targeting basin edge wet gas in multiple targets

Close to active Panakawa oil seep.

Further reported oil seeps being sampled in PPL 436 during July 2013.

Aerogravity program to begin in 2H 2013

Five reservoir targets: Elevala, Toro, Imburu, Koi Iange and Magobu.

Commercially attractive because of access to Fly River and Aiambak port.

Prosepctive resources sizes* are multi TCF gas targets and oil targets of several hundred million bbls. F

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Operational Timeline

Slide 21

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phone +61 2 8247 2500

mobile +61 407 747 657 – Richard Schroder, CEO

+61 422 444 140 – Alex Mitchell, CFO

email [email protected]

[email protected]

address Suite 6.03, 9-13 Young Street, Sydney

NSW, 2000 Australia

Southern Cross Pumps Building

Ground Floor, Unit 2

Section 62, Allotment 16

Ratu Place, Gordons, NCD

website www.kinapetroleum.com

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mailto:[email protected]

mailto:[email protected]

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