BROOKSIDE ENERGY LIMITED — AGM Information 2016

May 29, 2016

==> picture [169 x 64] intentionally omitted <==

Annual General Meeting May 30, 2016

Forward-Looking Statements and Other Disclaimers

This presentation may include forward-looking statements. Forward-looking statements are only predictions and are subject to risks, uncertainties and assumptions, which are outside the control of Brookside Energy Limited (“Brookside Energy” or “the Company”). These risks, uncertainties and assumptions include commodity prices, currency fluctuations, economic and financial market conditions in various countries and regions, environmental risks and legislative, fiscal or regulatory developments, political risks, project delay or advancement, approvals and cost estimates. Actual values, results or events may be materially different to those expressed or implied in this presentation. Given these uncertainties, readers are cautioned not to place reliance on forward-looking statements. Any forward-looking statements in this presentation speak only at the date of issue of this presentation. Subject to any continuing obligations under applicable law and the ASX Listing Rules, Brookside Energy does not undertake any obligation to update or revise any information or any of the forward looking statements in this presentation or any changes in events, conditions or circumstances on which any such forward looking statement is based.

This presentation does not constitute investment advice. Neither this presentation nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sale of shares in any jurisdiction. Shareholders should not rely on this presentation. This presentation does not take into account any person's particular investment objectives, financial resources or other relevant circumstances and the opinions and recommendations in this presentation are not intended to represent recommendations of particular investments to particular persons. All securities transactions involve risks, which include (among others) the risk of adverse or unanticipated market, financial or political developments.

The information set out in this presentation does not purport to be all-inclusive or to contain all the information, which its recipients may require in order to make an informed assessment of Brookside Energy. You should conduct your own investigations and perform your own analysis in order to satisfy yourself as to the accuracy and completeness of the information, statements and opinions contained in this presentation.

To the fullest extent permitted by law, the Company does not make any representation or warranty, express or implied, as to the accuracy or completeness of any information, statements, opinions, estimates, forecasts or other representations contained in this presentation. No responsibility for any errors or omissions from this presentation arising out of negligence or otherwise is accepted.

==> picture [35 x 35] intentionally omitted <==

2

Strategy in the Current Environment

 Build value per share by leveraging the expertise, experience and contacts of the Board and our joint venture partner

• Using a unique joint venture structure for US focussed activity

• Maintain maximum flexibility to take advantage of the opportunities presented by the current low commodity price environment

==> picture [35 x 35] intentionally omitted <==

==> picture [175 x 181] intentionally omitted <==

3

Catalysts for Oil Price Recovery

• Rig count plunges with ~1,300 on-shore oil rigs laid down since the peak of 2014

• Capex slashed with ~US$400bn cut from E&P spending from 2014 levels

• Oil company bankruptcies accelerate despite rising crude prices

• U.S. oil production declines from 9.1Mb/d in Q1 2016 to an estimated average of 8.1Mb/d in Q3 2017 (1.6Mb/d down from April 2015 levels)

“For the first time in history, we’ve seen cutting of capex two years in a row and potentially we risk a third year in 2017” Source: Statoil ASA May 2016

Rig Count v's WTI

==> picture [226 x 282] intentionally omitted <==

----- Start of picture text -----

2,000 100
1,800 90
1,600 80
1,400 70
1,200 60
???
1,000 50
800 40
600 30
400 20
???
200 10
0 0
Oct, 2014 Oct, 2015 Oct, 2016
US$ WTI
US On-shore Oil Rigs
----- End of picture text -----

==> picture [35 x 35] intentionally omitted <==

==> picture [88 x 21] intentionally omitted <==

----- Start of picture text -----

US On-shore Oil Rigs
US$ WTI
----- End of picture text -----

4

Right place, right time with the right structure

 Brookside’s STACK Play acquisitions represent a first step in a strategy to build a position in one of the select group of on-shore United States plays that remain economic at the current forward curve

• Commodity price cycle creates a once-in-a-generation buying opportunity as assets are re-priced, acreage prices fall and oil field service costs adjust

• Investing alongside a Tulsa based equity group with extensive industry experience and a strong track record for creating significant value from energy start-ups

==> picture [249 x 313] intentionally omitted <==

==> picture [35 x 35] intentionally omitted <==

5

Corporate Snapshot

==> picture [544 x 249] intentionally omitted <==

----- Start of picture text -----

Board of Directors ASX:BRK
Michael Fry (Chairman) Share Price Range $0.007 - $0.012
David Prentice (Managing Director) Market Capitalization $4,000,000
Loren Jones (NED & Co. Sec) Fully Paid Ordinary Shares [1 ] 500,000,000
Listed Options (ASX:BRKO) [2 ] 250,000,000
Price Chart
0.013
“Well timed successful acquisitions
0.012
provide clear value generation
0.011 through production and reserve
0.01 increases that are subsequently
0.0090.008 rewarded in a higher pricing
0.007 environment”
0.006
1/1/16 2/1/16 3/1/16 4/1/16 5/1/16
----- End of picture text -----

Notes:

1. 460,000,000 fully paid ordinary shares have been issued and allotted with the balance of 40,000,000 fully paid shares to be issued subject to shareholder approval at a meeting to be held on May 30, 2016.

2. 187,499,924 December 31, 2018 listed options with an exercise price of $0.02 have been issued with the balance of 62,500,076 to be issued subject to shareholder approval at a meeting to be held on May 30, 2016.

==> picture [35 x 35] intentionally omitted <==

6

Unique Joint Venture Structure

Brookside Energy’s agreement with Black Mesa Production, LLC (“Black Mesa”) provides unique, low-cost and efficient exposure to the United States E&P energy sector at an opportune time in the commodity price cycle

• Investing alongside a Tulsa based equity group with extensive industry experience and a strong track record for creating significant value from energy start-ups

• Black Mesa executive team in place with accomplished oil and gas professionals across key disciplines of land, finance, operations, reservoir engineering and geology

• Opportunity for BRK Oklahoma to invest directly at the project level as opportunities are identified and Black Mesa will manage and operate these projects

• US private equity and/or family offices and high net worth investors can participate alongside BRK Oklahoma

==> picture [303 x 218] intentionally omitted <==

----- Start of picture text -----

Brookside
Energy Limited
(ASX:BRK)
100%
BRK Black Mesa
Tulsa Equity Oklahoma Executive
Group Holdings, LLC Team
70% [2. ] 30% [1. ] Earning 50% [. ]
Black Mesa
Production,
LLC
----- End of picture text -----

1. BRK Oklahoma Holdings LLC diluting to 15% 2. Tulsa Equity Group diluting to 35%

==> picture [35 x 35] intentionally omitted <==

7

Black Mesa Strategy

Black Mesa is executing a returns-based, disciplined strategy directed at the acquisition of producing properties, lower-risk development drilling opportunities and larger scale entry level acreage plays/concepts

• Established capabilties to prospect for, evaluate and acquire oil and gas prospects/properties

• Black Mesa is leveraging the extensive experience of its executive team and its Board with the latest technology and data sets that are available to identfy and evaluate opportunities

• The Black Mesa team has already identified a portfolio of opportunities ranging from conventional shallow vertical drilling opportunities to acreage plays/concepts with scope to deliver very substantial upside

==> picture [286 x 197] intentionally omitted <==

----- Start of picture text -----

BRK Black Mesa US Private
Oklahoma Production,
Holdings, LLC LLC Equity
Working Operator Working
Interest Receives back-in after payout (18.75% to 25%) Interest
Participation Participation
Acreage, Drilling or
Producing Property
Acquisition
Opportunities
----- End of picture text -----

==> picture [35 x 35] intentionally omitted <==

8

Basin Scale Review identifies STACK Play

The Black Mesa team and Board together have decades of experience prospecting and operating in the prolific mid-continent region of the United States

==> picture [115 x 33] intentionally omitted <==

----- Start of picture text -----

STACK Play
----- End of picture text -----

==> picture [19 x 6] intentionally omitted <==

----- Start of picture text -----

Inset
----- End of picture text -----

==> picture [29 x 5] intentionally omitted <==

----- Start of picture text -----

See Inset
----- End of picture text -----

“STACK Play identified as a stand out in the select group of on-shore United States plays that remain economic at the forward curve”

Source: US Energy Information Administration based on data from various published studies Update: April 12, 2015

==> picture [35 x 35] intentionally omitted <==

9

STACK Play - Recent Results

• The STACK Play and specifically the Meramec formation is a stand out in the select group of on-shore United States plays that remain economic at the forward curve

• Black Mesa has recognized a unique opportunity to break into the STACK Play

• Black Mesa’s goal is to steadily ramp-up acreage acquisition and non-operated Working Interest participation in drilling over the next six months

==> picture [35 x 35] intentionally omitted <==

==> picture [366 x 344] intentionally omitted <==

10

STACK Play – Core Focus Area Identified

• Black Mesa has identified a core focus area within the broader STACK Play

 Key reservoir properties include:

• 250 – 450 ft. of gross Meramec thickness with two productive “benches” (large Hydrocarbon storage capacity)

• Meramec formation in this core area exhibits the best reservoir qualities

• Liquids rich (20% to 70%) with very little formation water produced

• Geologic and reservoir properties, along with production from recent wells indicate that the core focus area could be among the best producing areas in the STACK Meramec Play

• Large well funded operators (DVN:US, MRO:US, NFX:US, CLR:US and XEC:US) very active in the play with 20 rigs operating and large proportion of current capex budgets allocated to this play

• Currently testing lateral placement in both upper and lower Meramec zones (suggests up to 10 wells per drilling unit)

==> picture [35 x 35] intentionally omitted <==

==> picture [258 x 333] intentionally omitted <==

----- Start of picture text -----

Type Log
~450 [ft]
gross
Meramec
~1,000 [ft] of
continuous
saturated
reservoirs
----- End of picture text -----

11

STACK Play - Industry Type Curve (Meramec)

“World class play comparable with the most economic parts of the Permian and Eagle Ford Plays”	“World class play comparable with the most economic parts of the Permian and Eagle Ford Plays”
EUR	1,700 Mboe (58% oil)
IP30 Oil	1,300 bbl/day
IP30 Gas	3,500 Mcf/day
12-month cum.	380 Mboe

==> picture [370 x 226] intentionally omitted <==

==> picture [35 x 35] intentionally omitted <==

12

STACK Play – Single Well Economics (Meramec)

Forward Strip	Forward Strip	Forward Strip
Year	Oil (US$/Bbl)	Gas (US$/Mmbtu)
2017	40.47	2.40
2018	42.11	2.53
2019	43.37	2.60
2020	44.67	2.76
2021	46.01	2.85
Life	47.00	3.00

Assumptions: 1280 acre spacing unit (10,000’ lateral) CWC ~US$8mm - US$11mm NRI ~80%

Price Differentials: Oil: -$3.00/Bbl Natural Gas: -$0.37/Mcf

==> picture [370 x 243] intentionally omitted <==

Gathering Costs: Natural Gas: -$0.74/Mcf

==> picture [35 x 35] intentionally omitted <==

13

Brookside STACK Position Builds

• STACK Play acquisitions represent a first step in a strategy to build a material position in the heart of this exciting play

• Initial acquisition of royalties over approximately 100 acres (RA Minerals Royalty Acreage)

• Development is expected to commence shortly on this acreage with an initial extended reach horizontal well to be drilled by Continental Resources, Inc.

• Black Mesa executing a research program aimed at identifying additional working interest acreage acquisition opportunities within the core of the play.

• Early success with this on-going campaign already delivered an additional 50 acres (leasehold)

==> picture [35 x 35] intentionally omitted <==

“Brookside’s entry into the world class STACK Play gathers momentum”

Meramec / Osage Depositional Model

==> picture [262 x 241] intentionally omitted <==

14

Summary

• Brookside Energy’s joint venture with Black Mesa brings together a team of executives and Board members with extensive industry experience and a strong track record for creating significant value from energy startups

• The unique corporate structure provides maximum flexibility for/and encourages investment from numerous sources including US Private Equity

• Black Mesa is executing a disciplined rate of return portfolio approach to its acquisition and development activities

• Identified “core focus” area in the World Class STACK Play – one of a select group of on-shore United States plays that remain economic at the forward curve

• Black Mesa has recognized a unique opportunity to break into the STACK Play to gain non-operated working interest exposure to the play

==> picture [35 x 35] intentionally omitted <==

==> picture [260 x 335] intentionally omitted <==

15

Brookside Energy Limited

Brookside Energy Limited

Board of Directors

Michael Fry (Chairman) David Prentice (Managing Director) Loren Jones (Director & Co. Sec.)

Office

Suite 9, 330 Churchill Avenue Subiaco Western Australia 6008 www.brookside-energy.com.au

General Inquiries

==> picture [348 x 175] intentionally omitted <==

First cross-unit (long lateral) horizontal well drilled in Blaine County, Oklahoma Note: this is not an asset of Brookside Energy or Black Mesa

+61 8 6489 1600 loren@brookside-energy.com.au

==> picture [35 x 35] intentionally omitted <==

16

Black Mesa Production, LLC

Black Mesa Production, LLC

Board of Directors Bill Warnock (Chairman & CEO) John Brock Larry Edwards Chris Girouard David Prentice

Executive Team Chris Girouard (President & COO) John Schumer (VP Reservoir Engineering) James Eddleman (Snr. Geologist) Lee Francis (VP Operations)

Office

Suite 450, 401 S. Boston Avenue Tulsa, Oklahoma

==> picture [35 x 35] intentionally omitted <==

==> picture [299 x 339] intentionally omitted <==

17