Exploring New Frontiers

1. Exploring New Frontiers

2. Exploring New Frontiers The Journey Hibiscus Petroleum executed agreements to acquire a 35% equity stake in Lime Petroleum PLC (“Lime”) as our Qualifying Acquisition (“QA”). At the time of signing, Lime had 3 concessions in the Middle East. On 12 April 2012, a fourth concession, also in the Middle East, was added to the Lime portfolio without any change to the purchase consideration. Signed agreements for the subscription of shares in 3D Oil Limited and acquisition of rights to exploration permit VIC / P57 in the GippslandBasin of Australia Hibiscus, through its Lime investment, obtained exposure to 4 offshore concessions on the Norwegian Continental Shelf. Listed on the Main Market of the Malaysian Stock Exchange under Special Purpose Acquisition Company (SPAC) listing rules. As a SPAC, Hibiscus Petroleum was subject to several operating restrictions and was required to make a substantial investment in an approved Qualifying Acquisition (QA) before being able to operate as a ‘normal’ Main Market public company. Completion of the Lime transaction as the QA signified that the company was no longer a SPAC and became the first Malaysian listed Oil and Gas E&P company. The To fund further growth opportunities, Hibiscus launched a Convertible Redeemable Preference Share (CRPS) scheme to raise up to RM210Mil. To date RM74.48 million has already been secured. 1st SPAC IPO Signed Lime Petroleum Agreements as QA 24 October 2011 25 July 2011 Jour 4 Additional Norwegian Concessions 1stListed E&P Company ney 4 May 2012 18 April 2012 Launch Issue of CRPS 3D Oil Transaction 2/3 August 2012 14 August 2012

3. Exploring New Frontiers Strategy High Portfolio balancing will be the next thrust • Qualifying Acquisition • High Impact Advanced Exploration to Build Value RISK PROFILE • Development Assets • Proven Resources to Build Balance Sheet Resilience and Mitigate Risk • Production Assets • Cashflow for Profitability and Sustainability Plan for Success Strategy for Exploration Assets IPO - SPAC Low TIME July 2011 Oct 2011 April 2012 Q2 / 2013

4. Exploring New Frontiers The Lime Transaction Evolution Shareholders EGM Approval 21 March 2012 Securities Commission Approval 16 February 2012 Lime QA Transaction Announcement 25 October 2011 Deal Closing 18 April 2012 Mkt Cap: US$ 218 mil 5 Sept 2012 Approvals & Conditions Precedent Fulfillment Signing Deal Package Completion DealPackage • Additional Concession in Middle East • RAK Onshore (100 %) • Letter of Intent for 4 Additional Concessions in Norway • PL 503 (12.5 %) • PL 518 (15 %) • PL 526 (20 %) • PL 530 (10 %) • Use of Rex Technology for Norway • Concessions • No Change in Purchase Consideration • 3 Concessions in Middle East • Oman Block 50 (74 -> 35 %) • RAK North Offshore (59 %) • Sharjah (100 %) • Rex Technology for 15 Countries in Middle East • Project Management Contract to Hibiscus • Total Consideration: US$ 55 mil for 35 % • US$ 5 mil Discovery Bonus On 2 May 2012, Norway LOI translated to Definitive Agreements. On 28 May 2012, Lime’s stake in MasirahOil was finalized at 64 %.

5. Exploring New Frontiers Lime Assets – Middle East Concessions RAK OFFSHORE RAK ONSHORE SHARJAH OFFSHORE OMAN BLOCK - 50 RAK ONSHOREBaqal Petroleum Lime – 100 % RAK OFFSHORE Dahan Petroleum Right Ally – 16 % Schroder – 25 % Lime – 59 % OMAN BLOCK 50 Masirah Oil Lime – 64 % Petroci – 36 % SHARJAH OFFSHORE Zubara Petroleum Lime – 100 % The Most Prolific Petroleum Basin In The World

6. Exploring New Frontiers Lime Assets – Norwegian Concessions PL 518 Zapffe PL 526 Vågar/Karl PL 518 Dong – 40% (OP) North Energy – 15% Sagex – 10% Discover -20 % Lime – 15 % PL 503 Lotos EP – 25% (OP) Edison -25% North Energy – 12% Skagen – 25% Lime – 13 % PL 530 Heilo PL 503 Valberget PL 526 North Energy – 33.3% (OP) E.ON Ruhrgas – 33.3% Lime – 33.3 % PL 530 GDF – 40% (OP) North Energy – 10% Discover -20% Rocksource – 20% Lime – 10 % A Mature First World Petroleum Producer

7. Exploring New Frontiers Value Enhancement

8. Exploring New Frontiers Value Enhancement RAK Sha Oman RAK Nor Blo Off r on w shore jah shore ck50 ay

9. Exploring New Frontiers 3D Oil Transaction Strategy High Portfolio balancing will be the next thrust • Qualifying Acquisition • High Impact Advanced Exploration to Build Value 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 Low TIME July 2011 Oct 2011 April 2012 Q2 / 2013

10. Exploring New Frontiers 3D Oil Transaction • As part of its portfolio balancing strategy, Hibiscus Petroleum, through Oceania Hibiscus and Carnarvon Hibiscus is proposing to: • Subscribe to 13% of the enlarged current share capital of 3D Oil Ltd. • acquire a 50.1% farm-in interest in VIC/P57 for AUD13.5 million and an additional contribution to project expenditure of AUD 13.5 MM (collectively referred to as the “Proposed Transaction”). • Hibiscus to be the Operator of the concession • Total Hibiscus Petroleum commitment is AUD 29 MM • Direct Investment in VIC/P57 • [Unincorporated JV] • Direct Investment in VIC/P57 • [Unincorporated JV] • Hibiscus Petroleum Berhad (Hibiscus) • Hibiscus Petroleum Berhad (Hibiscus) 100% 100% • Oceania Hibiscus Sdn Bhd (OHSB) • Oceania Hibiscus Sdn Bhd (OHSB) • AUD 2 MM – Subscription Agreement for placement of new shares in PLC • AUD 2 MM – Subscription Agreement for placement of new shares in PLC Malaysia Australia Malaysia Australia 13% 13% 100% 100% • 3D Oil Ltd (ASX Listed) • Carnarvon Hibiscus Pty Ltd (Operator) • 3D Oil Ltd (ASX Listed) • Carnarvon Hibiscus Pty Ltd (Operator) 50.1% 50.1% 49.9% 49.9% • AUD 27 MM – Farm-in Agreement for a 50.1 % stake in VIC/P57 • AUD 27 MM – Farm-in Agreement for a 50.1 % stake in VIC/P57 Regulated by a Joint Operating Agreement to be entered into by both parties Regulated by a Joint Operating Agreement to be entered into by both parties

11. Exploring New Frontiers 3D Oil Transaction • Australia’s most prolific oil & gas basin, close to major existing infrastructure, including established oil & gas refineries • Operations are made up of 18 platforms and several subsea tiebacks • Over 30 fields including 3D Oil’s West Seahorse field make up the Bass Strait grouping • The key assets within the permit are the (proven) West Seahorse Field, and two Exploration Prospects, Sea Lion and Felix . VIC/P57 VIC/P57 • West Seahorse Field • Estimate of 7.3 MMbbls was done • by RISC on behalf of Hibiscus • Certification of 9.2 MMbbls was done by Gaffney Cline and Associates (engaged by 3D Oil)

12. Exploring New Frontiers The Future The Lime investment enters an important phase over the next 12 months. CRPS provides us with financial resources to balance our risk profile. First oil from VIC/P57 targeted for Q3 2014. We continue to assess new opportunities. Thank you for your support.

13. Exploring New Frontiers • Thank You