Prominence Energy Limited · ASX:PRM

Prominence Energy — Sun Resources NL — Corporate Update (May 2012)

17 slides from Prominence Energy's corporate update, May 11, 2012

  1. Slide 1: Lodgement of Corporate Update Investor Briefing

    ABN 69 009 196 810 (Incorporated in Western Australia) Unit 16 Subiaco Village 531 Hay Street, Subiaco WA 6008 PO Box 1786, West Perth WA 6872 T +61 8 9388 6501 F +61 8 9388 7991 11 May 2012 ASX Limited Company Announcements Level 4, 20 Bridge Street SYDNEY NSW 2000 Dear Sir/Madam LODGEMENT OF CORPO

  2. Slide 2: Delta Oil Project – Woodbine Oil Play, Texas

    Delta Oil Project Woodbine Oil Play, Texas Amerril Energy Acquisition, 11th May 2012 Matthew Battrick, Managing Director

  3. Slide 3: Delta Oil Project – Sun Grows Again

    Delta Oil Project – Sun Grows Again Exciting acreage addition in Woodbine tight oil play  Sun is acquiring a 50% working interest (37.5% net royalty interest) in additional 12,000 acres adjacent to Sun’s existing Delta Project leases  8,347 acres acquired to date in original acquisition of Delta O

  4. Slide 4: Corporate Overview

    Corporate Overview Capital Structure Share Price Performance (last 12 months) Ordinary shares 1 1.14 billion Performance Options 1, 2, 3 320 million Unlisted Options (various prices) 3 107.3 million Market capitalisation (at 4.9 cents) $55.9 million (undiluted) Cash 4 $3.4 million Enterprise Value $

  5. Slide 5: Amerril Energy Acquisition – Transaction Details

    Amerril Energy Acquisition – Transaction Details 50% Working Interest in 12,000 acres, immediately adjacent to Delta Oil Project  $15 million consideration - $5 million cash and 200 million ordinary shares (at 5 cents per share)  $750,000 to be paid on or before 21 May 2012, after completion of ti

  6. Slide 6: Woodbine Play Continues

    ASX peer Eureka Energy under takeover by Aurora Oil & Gas for an offer price that values Eureka at Sun Resources >$17,000 per net acre for ~6,000 acres Play Continues Strike, Eureka, Aurora, Texon etc 5

  7. Slide 7: Delta Project – Lease Position & Adjacent Success

    Delta Project – Lease Position & Adjacent Success Surrounded by significant Oil & Gas fields, with recent successful horizontal drilling activity. All scout activity <5-10km from Sun’s lease position Location of existing and targeted Delta Buffalo Oil Project leases Field Amerill Project lease area

  8. Slide 8: Delta Oil Project – Potential in Stacked Horizons

    Delta Oil Project Potential in Stacked Horizons  Seven “Fraccable” pay intervals identified in local well control: 1 = Austin Chalk 2 = Sub-Clarksville 3 = Upper Eagle Ford Shale 4, 5, 6 = Upper, Middle & Lower Woodbine 7 = Buda – Georgetown  All analysed wells within 500 metres of Sun lease bound

  9. Slide 9: Delta Oil Project – Potential in Stacked Horizons

    Delta Oil Project - Potential in Stacked Horizons Recent technical work has confirmed pay potential in multiple horizons within lease areas 8

  10. Slide 10: Delta Oil Project – Other favourable characteristics

    Delta Oil Project Other favourable characteristics  Horizontal fracced wells have obtained significant oil production from brittle, sandy units (Woodbine Sands) situated near the base of the Eagle Ford Shale at relatively shallow depths – total section often exceeds 450 feet in thickness  The Wood

  11. Slide 11: Recent Industry Research Confirms Significant Potential

    Delta Oil Project Recent Industry Research Confirms Significant Potential  Organic-rich, laminated sand above Buda  Well cost = US$5.5 to US$6.5 million  ~40% silica and clastics = natural fractures  Spud to Production = 60 to 90 days  Well Spacing = 160 acres (down from  Geologically equivale

  12. Slide 12: Delta Oil Project – Intense Industry Interest

    Delta Oil Project – Intense Industry Interest  Horizontal well significantly increases the exposure to the productive zone with well costs in the range of $5.5- $6.5m per well: drilled, fracced and completed  Industry interest pushing the cost per acre well above Sun’s unit acquisition cost for le

  13. Slide 13: Delivering on our Development Roadmap

    Delta Oil Project Delivering on our Development Roadmap Phase 1 Phase 2 Phase 3  Conclude acquisition of  Drill horizontal appraisal  Commence development up to 10,000 acres in the well(s) - targeting 2H drilling Delta Oil Project - 2012  Continue building targeting 2Q 2012  Consider appraisal

  14. Slide 14: Delta Oil Project – Local Activity

    Delta Oil Project – Local Activity Existing vertical Energy Corridor – I45 oil production Infrastructure on Rig drilling 6,000 ft site in 26 days lateral in Woodbine 13

  15. Slide 15: Summary

    Summary Expanding Strategic Lease Position in the Woodbine (EFS) Oil Fairway  Existing 100% working interest in 8,347 acres in Woodbine, onshore Texas  Acquiring 50% working interest in additional 12,000 acres  Advanced discussions ongoing with potential farm-in partners for early drilling  On t

  16. Slide 16: Important Information - Disclaimer

    Important Information - Disclaimer This document has been prepared by Sun Resources NL for the purpose of providing a comprehensive company and technical overview to interested analysts/ investors. This presentation does not constitute an offer, invitation or recommendation to subscribe for, or purc

  17. Slide 17: For more information and regular updates

    For more information and regular updates: Visit us @ www.sunres.com.au Call us on +61 8 9388 6501 16

Sun Resources NL — Corporate Update (May 2012) on 6ix