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Building Greater Value

Building Greater Value. Convertible Redeemable Preference Share (CRPS) Issue. Strategy. High. Portfolio balancing w ill be the next thrust. Building Greater Value. Qualifying Acquisition High Impact Advanced Exploration to Build Value. Convertible Redeemable Preference Share

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Building Greater Value

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  1. Building Greater Value Convertible Redeemable Preference Share (CRPS) Issue

  2. Strategy High Portfolio balancing will be the next thrust Building Greater Value • Qualifying Acquisition • High Impact Advanced Exploration to Build Value Convertible Redeemable Preference Share (CRPS) Issue RISK PROFILE • Development Assets • Proven Resources to Build Balance Sheet Resilience and Mitigate Risk Lime Transaction • Production Assets • Cashflow for Profitability and Sustainability Plan for Success Strategy for Exploration Assets 3D Oil Transaction IPO - SPAC TIME Low July 2011 Oct 2011 April 2012 Q2 / 2013

  3. Building Greater Value Convertible Redeemable Preference Share (CRPS) Issue Funding Plan Warrants Proceeds + Free Cash Flows from Earlier Projects High IPO Proceeds IPO Proceeds + Early CRPS Tranches • Qualifying Acquisition • High Impact Advanced Exploration to Build Value Future Exploration Projects Later CRPS Tranches RISK PROFILE Future Development Projects Lime Transaction • Development Assets • Proven Resources to Build Balance Sheet Resilience and Mitigate Risk Plan for Success Strategy for Exploration Assets • Production Assets • Cashflow for Profitability and Sustainability Future Production Projects 3D Oil Transaction IPO - SPAC Low TIME July 2011 Oct 2011 April 2012 Q2 / 2013

  4. Building Greater Value Convertible Redeemable Preference Share (CRPS) Issue Scheme Independent Custodian Raising up to RM210 million with price fixed at conversion premium ≤10%over the 5-day VWAMP or RM1.60 whichever is higher Funds invested in development and/or producing assets Issue of CRPS <RM15m 10% RM15m to <RM30m 7.5% RM30m to <RM45m 5.0% RM45m to <RM60m 2.5% ≥RM60m 0% Subscription agreement to be signed and payment of funds Balance in Custodian Account at 17th month 5% :- 10 BD after signing 95% : 3 BD after receipt of all approvals >20% ≤20% Optional Redemption Mandatory Conversion Optional Conversion Earlier of :- 6 months from issue of 1st tranche CRPS; or share price reaches RM3.00 At the 17th month; At 5% premium p.a. on balance monies At the 18th month Independent Competent Person to verify assets are within predefined parameters

  5. Building Greater Value Convertible Redeemable Preference Share (CRPS) Merits & Safeguards • CRPS block purchase allow for an investor to secure a significant equity stake at a fixed price. • Invested funds are maintained with a Trustee and utilized on projects which provide the desired returns and strategic objectives. • The utilization must be endorsed by an Independent Competent Person providing another layer of safeguards for the investor. • An incoming investor obtains exposure to the Lime exploration assets that are drillable in the near term and the Rex technology package that have already been secured. • Pricing mechanism does not dilute current shareholder base.

  6. Building Greater Value Convertible Redeemable Preference Share (CRPS) Issue • To date, we have successfully signed CRPS Subscription Agreements worth RM74.48 million, which is equivalent to 35.5% of the total maximum funds of RM210 million. • Kindly refer to the Circular for detailed information • Thank You

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