BLACK ROCK MINING LIMITED — AGM Information 2013

Nov 26, 2013

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Green Rock Energy Limited

Presentation to Annual General Meeting 27[th] November 2013

Progress in 2013

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Substantial achievements in last 12 months:

November 2012

Just completed drilling of dry hole at East Blina

Mid West Geothermal Power Project received LEED funding of $5.4 but no JV or Commonwealth funding

2+ years wait for Hungary geothermal concession process

November 2013

100% of L12-7 Ocean Hill Block with 2C resource of 375bcf on pipeline

AWE joined as JV partner, substantial progress on Commonwealth funding, Synergy signs up for offtake

Concession bid submitted on 15 November

During the year we preserved cash by divesting Canning assets for cash (NSE) and shares (OBL) and exiting SPA33

.... This progress has not been reflected in our share price

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L12-7 Ocean Hill Block

• GRK selected as Preferred Applicant 8[th] April 2013

• Permit will be awarded on completion of Native Title negotiations which are in progress

• Environmental surveys commenced and draft Environmental Plan submitted

• Discussions progressing with several potential farminees

• Independent resource assessment by DeGolyer & MacNaughton*:

Contingent Resources

Gross Separator Gas (Bcf)	Gross Separator Gas (Bcf)	Gross Separator Gas (Bcf)
1C	2C	3C
24	360	796
Gross Condensate (Mbbl)
1C	2C	3C
145	1,191	2558

Prospective Resources

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LowEstimate(Bcf)	BestEstimate(Bcf)	HighEstimate(Bcf)
557	809	1,155

*Competent Person Statement in ASX Release dated 4[th] October 2013

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Mid West Geothermal Power Project

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•Targeting naturally permeable Hot Sedimentary Aquifers in known hot spots close to local power network. Substantial geophysical, geological and well data from 2D and 3D seismic plus ~250 petroleum wells in basin

•Project granted $5.4 million by WA Government Low Emissions Energy Development (LEED) Fund in June 2012

•Good progress in securing substantial funding from Commonwealth Government’s Emerging Renewables Program administered by ARENA

•MoU in March 2013 with AWE who will provide the balance of funding substantially fund the balance not covered by LEED and ARENA, and who will operate the drilling program

• •MoU in June 2013 with Synergy for electricity offtake from the Project

• •Objective is to complete funding as soon as possible to enable first well to be drilled in second half of 2014

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JV with MOL for Conventional Geothermal Power in Hungary

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• CEGE submitted bid on 15

November for concession area containing well tested and acquired in 2010. Government expected to inform preferred bidder in Q1 2014.

• Work to evaluate the first well already acquired indicates that an economic geothermal resource exists that could support several MW of power generation capacity in the initial project. The total area is expected to support multiple projects.

• Green Rock will seek funding for its interest from European investors.

• MOL carry of last ~2 years expenditure has diluted Green Rocks interest from 50% to 47%

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Milestones for next 6 months

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• L12-7 Ocean Hill Block – complete Native Title negotiations and farmout

• •Mid West Geothermal Power Project – complete funding and prepare to drill first well in 2H 2014

• •Hungary – secure concession and European funding for GRK share

• •Continue to review new opportunities

• •Continue to keep tight control on spending to defer need for capital raising

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