Adrian Larking, Managing Director 26 November 2007

1. Green Rock Energy Limited Annual General Meeting Adrian Larking, Managing Director 26 November 2007

2. Disclaimer • The information contained herein must be treated as confidential by the intended recipient. This document must not be passed onto any person without written permission from Green Rock Energy Limited. • Green Rock Energy Limited has taken reasonable care in producing the text and images contained in this presentation but does not warrant that the information contained herein is accurate or up to date. • The information on these slides is based on publicly available information, internal data and information from other sources. It is not intended to give investment or other advice to anyone and the information is not a substitute for detailed investigation or analysis. • Green Rock Energy Limited will not be responsible for any loss or damage (direct or indirect, consequential or otherwise) resulting from the use of information provided in this presentation.

3. Green Rock Energy Ltd- Corporate Overview • Australian company, listed on Australian Stock Exchange (code “GRK”) • Market Capitalisation: • A$19.2 million • Options • 40 million options • 10 cents (April 2008) • Shareholders • 2,200 • Top 20 (34%) • Directors (7%)

4. Green Rock Energy Ltd- Business Overview • Developer of commercial geothermal energy projects • Long life resources supplying long life markets • Australian Geothermal Projects (100% interest) • Hungarian Projects (32% interest)

5. Geothermal Energy - Recovering the Earth’s Natural Heat • Hot Water • in natural reservoirs • known as “Conventional ” or “Hydrothermal” systems • Hot Rocks (EGS) • Hot Dry Rocks

6. Geothermal Resources

7. Geothermal Energy- Why geothermal energy? Conventional Geothermal Energy technology is well proven Advantages of Geothermal Energy • Varied uses – electricity, direct heat applications • Renewable energy – access to carbon credits • Domestic source of energy • Base load, long life, power source – high availability >95% • 50,000 times energy of known world oil & gas reserves (US Dept Energy) • Technology driving costs down c.f. fossil fuel prices increasing • Attractive to green/ethical funds Sub-surface Tasks • Both Conventional & EGS - sustainable water circulation flow rate • EGS - fracture stimulation to create a large underground reservoir

8. OD Geothermal Energy Project (100%) Location (2,899 km2)

9. OD Geothermal Energy Project Past Activities • Blanche No1 well • Sited 5km from power grid on seismic line • Drilled, cored & logged to 1,935m • In-situ stress analysis (CSIRO) • Temperature measured beneath & around mine • Well production capability (GeothermEx) • Confirmed • Suitable temperatures in granite host • Extensive volume of homogeneous granite • Large potential resource • Likely horizontal flow direction

10. 2008 Mini hydro-fracture of existing slim hole well Design first of two deep wells Drill 1st production well Fracture stimulate 1st well 2009 Drill 2nd production well Fracture stimulate 2nd well Flow test fractured reservoir 2011 3 to 5 MWe Pilot Power Plant 2013 +20 MWe modular plants OD Geothermal Energy Project Evaluation & Development Phases

11. Project ownership 100% by Green Rock Energy Ltd Site location  Next to power demand and transmission grid Potential resource Drilled into hot granite and confirmed temperatures Establish water circulation Water supplies  Adequate water for flow circulation & cooling Infrastructure Roxby Downs township and services Connection to electricity grid 10kms from grid Scaled development Immediate access to market Experience Conventional & EGS (above & below ground) OD Geothermal Energy Project Comparison with other EGS Projects

12. Patchawarra Project (100% interest) Location (1,483 km2)

13. Patchawarra Project Location selection • Patchawarra Trough, Cooper Basin • geological formations prospective for hot geothermal water • Prospective aquifers reach a thickness in excess of 1,200m • at depths in excess of 3,000m • To be evaluated and developed in conjunction with the construction of an electricity distribution network connected to the Cooper Basin

14. Upper Spencer Gulf Project (100% interest) Location (1,938 km2)

15. Upper Spencer Gulf Project Location Selection • 6 geothermal exploration licenses & two applications • Early stage of evaluation of the granites for EGS • Evaluating direct use of geothermal heat source for a desalination plant

16. Green Rock Energy Ltd- Projects Hungary Geothermal Energy Project (32% interest)

17. Hungary Geothermal Energy ProjectWhy Hungary ? • Good resource potential • high regional heat flow • hot waters intersected in drilling • Extensive database • Supportive legislative regime • attractive feed in tariff pricing €90 /MWh (c.f. Australia: A$50/MWh) • guaranteed access to market • Member of European Union • World Bank backed risk insurance

18. Hungary Geothermal Energy ProjectJoint Venture (32%) Joint Venturers • MOL - a major Hungarian oil & gas company • Enex hf - a major Icelandic geothermal operating & consulting company • Green Rock Energy Limited Scope • Testing of existing hydrocarbon wells or new wells • Generate a pipeline of geothermal projects • >100 MW electricity + direct heat capacity 1st Site drilled • Suspended (usable for direct heat) Currently selecting 2nd & 3rd sites

19. Summary • Commercially driven company • A renewable energy that provides continuous energy • Evaluation and development approach minimizes risk • Ability to develop projects in stages • Both Conventional & EGS geothermal projects • In a market that will only get more focus • International geothermal experience • New incentives announced by governments

20. THANK YOU