==> picture [288 x 210] intentionally omitted <==

**Company

Presenta.on October
2011**

==> picture [102 x 84] intentionally omitted <==

Disclaimer

The
informa,on
contained
in
this
presenta,on
(“ Presenta.on ”)
has
been
prepared
by
Orca
Energy
Limited
(“ the
Company ”)
and
is
being
delivered
for
informa,onal
purposes
only
to
a
limited
number
of
persons
to
assist them
in
deciding
whether
or
not
they
have
an
interest
in
inves,ng
in
the
Company.
The
Presenta,on
has
not
been
independently
verified
and
the
informa,on
contained
within
is
subject
to
upda,ng,
comple,on,
revision, verifica,on
and
further
amendment.
The
Presenta,on
does
not
purport
to
contain
all
informa,on
that
a
prospec,ve
investor
may
require.
While
the
informa,on
contained
herein
has
been
prepared
in
good
faith,
neither the
Company
nor
its
shareholders,
directors,
officers,
agents,
employees,
or
advisors
give,
has
given
or
has
authority
to
give,
any
representa,ons
or
warran,es
(express
or
implied)
as
to,
or
in
rela,on
to,
the
accuracy, reliability
or
completeness
of
the
informa,on
in
this
Presenta,on,
or
any
revision
thereof,
or
of
any
other
wriJen
or
oral
informa,on
made
or
to
be
made
available
to
any
interested
party
or
its
advisers
(all
such
informa,on being
referred
to
as
“ Informa.on ”)
and
liability
therefore
is
expressly
disclaimed.
Accordingly,
neither
the
Company
nor
any
of
its
shareholders,
directors,
officers,
agents,
employees
or
advisers
take
any
responsibility
for, or
will
accept
any
liability
whether
direct
or
indirect,
express
or
implied,
contractual,
tor,ous,
statutory
or
otherwise,
in
respect
of
the
accuracy
or
completeness
of
the
Informa,on
or
for
any
of
the
opinions
contained
herein or
for
any
errors,
omissions
or
misstatements
or
for
any
loss,
howsoever
arising
from
the
use
of
this
Presenta,on.
In
furnishing
this
Presenta,on,
the
Company
does
not
undertake
or
agree
to
any
obliga,on
to
provide
the recipient
with
access
to
any
addi,onal
informa,on
or
to
update
this
Presenta,on
or
to
correct
any
inaccuracies
in,
or
omissions
from,
this
Presenta,on
which
may
become
apparent.

Informa,on
contained
in
this
Presenta,on
is
confiden,al
informa,on
and
the
property
of
the
Company.

It
is
made
available
strictly
for
the
purposes
referred
to
above.

The
Presenta,on
and
any
further
confiden,al informa,on
made
available
to
any
recipient
must
be
held
in
complete
confidence
and
documents
containing
such
informa,on
may
not
be
reproduced,
used
or
disclosed
without
the
prior
wriJen
consent
of
the
Company. This
Presenta,on
shall
not
be
copied,
published,
reproduced
or
distributed
in
whole
or
in
part
at
any
,me
without
the
prior
wriJen
consent
of
the
Company.
By
accep,ng
delivery
of
this
Presenta,on,
the
recipient
agrees to
return
it
to
the
Company
at
the
request
of
the
Company.

This
Presenta,on
should
not
be
considered
as
the
giving
of
investment
advice
by
the
Company
or
any
of
its
shareholders,
directors,
officers,
agents,
employees
or
advisors.

Each
party
to
whom
this
Presenta,on
is
made available
must
make
its
own
independent
assessment
of
the
Company
aOer
making
such
inves,ga,ons
and
taking
such
advice
as
may
be
deemed
necessary.
In
par,cular,
any
es,mates
or
projec,ons
or
opinions
contained herein
necessarily
involve
significant
elements
of
subjec,ve
judgment,
analysis
and
assump,on
and
each
recipient
should
sa,sfy
itself
in
rela,on
to
such
maJers.

Neither
the
issue
of
this
Presenta,on
nor
any
part
of
its contents
is
to
be
taken
as
any
form
of
commitment
on
the
part
of
the
Company
to
proceed
with
any
transac,on
and
the
right
is
reserved
to
terminate
any
discussions
or
nego,a,ons
with
any
prospec,ve
investors.
In
no circumstances
will
the
Company
be
responsible
for
any
costs,
losses
or
expenses
incurred
in
connec,on
with
any
appraisal
or
inves,ga,on
of
the
Company.

The
informa,on
included
in
this
Presenta,on
that
relates
to
resources
was
prepared
by
Mr.
Mark
A.
PaJerson.
Mr.
PaJerson
has
over
30
years
of
oil
and
gas
experience
and
is
a
member
of
the
American
Associa,on
of Petroleum
Geologists,
the
Society
of
Explora,on
Geophysicists,
and
the
Council
of
Energy
Advisors.
Es,mates
as
to
recoverable
hydrocarbon
volumes
contained
in
this
Presenta,on
are
based
upon
certain
assump,ons. Accordingly,
actual
results
will
differ,
and
may
differ
significantly
and
materially,
from
those
presented.

Forward
Looking
Statements

Certain
statements
contained
in
this
presenta,on,
including
informa,on
as
to
the
future
financial
or
opera,ng
performance
of
Orca
Energy
Limited
and
its
projects,
are
forward
looking
statements.
Such
forward
looking statements:

§ are
necessarily
based
upon
a
number
of
es,mates
and
assump,ons
that,
while
considered
reasonable
by
Orca
Energy
Limited,
are
inherently
subject
to
significant
technical,
business,
economic,
compe,,ve, poli,cal
and
social
uncertain,es
and
con,ngencies;
§ involve
known
and
unknown
risks
and
uncertain,es
that
could
cause
actual
events
or
results
to
differ
materially
from
es,mated
or
an,cipated
events
or
results
reflected
in
such
forward
looking
statements;
and
§ may
include,
among
other
things,
statements
regarding
targets,
es,mates
and
assump,ons
in
respect
of
produc,on
and
prices
opera,ng
costs
produc,on
prices,
and
results,
capital
expenditures,
reserves
and resources
and
an,cipated
flow
rates,
and
are
or
may
be
based
on
assump,ons
and
es,mates
related
to
future
technical,
economic,
market,
poli,cal,
social
and
other
condi,ons.

Orca
Energy
Limited
disclaims
any
intent
or
obliga,on
to
update
publicly
any
forward
looking
statements,
whether
as
a
result
of
new
informa,on,
future
events
or
results
or
otherwise.

The
words
“believe”,
“expect”,
“an,cipate”,
“indicate”,
“contemplate”,
“target”,
“plan”,
“intends”,
“con,nue”,
“budget”,
“es,mate”,
“may”,
“will”,
“schedule”
and
similar
expressions
iden,fy
forward
looking
statements.
All forward
looking
statements
made
in
this
presenta,on
are
qualified
by
the
foregoing
cau,onary
statements.
Investors
are
cau,oned
that
forward
looking
statements
are
not
guarantees
of
future
performance
and accordingly
investors
are
cau,oned
not
to
put
undue
reliance
on
forward
looking
statements
due
to
the
inherent
uncertainty
therein.

==> picture [102 x 84] intentionally omitted <==

**Capital

Structure**

ASX
Listed
–
ASX:
OGY § Previously
Monitor
Energy – ASX:
MHL § Current
Shares
on
Issue – 9,100,671,434

§ Current
Share
Price – 0.2c § Market
Capitalisa,on – $18m

§ Cash – Circa
A$1m

==> picture [414 x 335] intentionally omitted <==

==> picture [102 x 84] intentionally omitted <==

Management

**Senior

Management**

§ Greg
Bandy
–
Execu.ve
Director
Over
12
years
broking
&
corporate
experience
in
Australia.
Senior
Advisor
with
Patersons
Securi,es. Execu,ve
Director
of
dual
listed
Red
Emperor
Resources
(ASX/AIM:
RMP)
and
responsible
for
managing and
facilita,ng
the
acquisi,on
of
the
Seabiscuit
asset
in
the
US
§ Jason
Bontempo
–
Non-‐Execu.ve
Director
Highly
experienced
ASX
director
with
over
10
years
experience
at
senior
board
level
in
Australia
and the
UK.
Current
Execu,ve
Director
of
Interna,onal
Goldfields
Limited
(ASX:
IGS),
Glory
Resources
(ASX: GLY)
and
Chameleon
Mining
NL
(ASX:
CHM)
§ Tony
King
–
Execu.ve
Consultant
Managing
Director
of
Max
Capital
Pty
Ltd.
Tony
has
in
excess
of
15
years
of
corporate
experience, specifically
with
publically
listed
Australian
companies
and
capital
markets
and
responsible
for
advising Monitor/Orca
on
the
Seabiscuit
acquisi,on
in
the
US
§ Mark
A.
PaRerson
–
Technical
Advisor
Mr.
PaJerson
has
over
30
years
of
oil
and
gas
experience
and
is
a
member
of
the
American
Associa,on
of Petroleum
Geologists,
the
Society
of
Explora,on
Geophysicists,
and
the
Council
of
Energy
Advisors.
He currently
advises
Range
Resources
Limited
(ASX:
RRS
;
AIM:
RRL)
and
helped
introduce
and
facilitate
the acquisi,on
of
the
Seabiscuit
asset
in
the
US.
Mark
resides
in
Dallas,
Texas

==> picture [102 x 84] intentionally omitted <==

Overview

§ Orca
Energy
have
a
20%
interest
in
the
highly
prospec,ve
“Seabiscuit
Project”,
acquired
in August
2011
and
announced
to
the
market
on
12
July,
2011
§ The
Seabiscuit
Project
covers
an
area
of
approx.
1,750
acres
and
has
the
poten,al
to
contain up
to
1Tcf
and
10MMbo
§ Drilling
expected
to
commence
in
Q1,
2012
§ Orca
also
holds
key
interests
in
two
highly
prospec,ve
Cooper
Basin
blocks,
one
of
which
has already
had
an
oil
discovery
(PEL
115)
§ PEL
115
(OGY
–
42%)
-‐
Oil
discovery
in
Dec
13m
gross
oil
column.
Range
of
volumes
of oil
in
place
(7.99MMbo
-‐
17.44MMbo)*
§ PEL
115
also
presents
significant
unconven,onal
shale
gas
poten,al
and
is
adjacent
to
PEL 516
[100%
owned
by
JV
partner
Senex
Energy
(ASX:
SXY)
which
es,mates
over
100Tcf poten,al
Gas-‐in-‐Place]
–
ASX
Presenta,on,
October
2011
§ PEL
110
(OGY
–
20%)
-‐
seismic
work
to
begin
in
2012

*Independent
report
by
MBA
Petroleum
Consultants,
Brisbane
based
petroleum
consultancy
company

==> picture [102 x 84] intentionally omitted <==

**Seabiscuit

Acquisi.on
&
Partners**

§ Orca
Energy
acquired
its
20%
interest
in
the
Seabiscuit
Project
through
the
acquisi,on
of
100%
of the
issued
capital
of
Sugarbay
Investments
Pty
Ltd,
the
current
assignee
and
JV
par,cipant
in
the project
§ Sugarbay
was
assigned
their
interest
by
Crest
Resources,
a
prominent
oil
&
gas
operator
in
the
Gulf Coast
and
responsible
for
introducing,
drilling
and
discovering
Range
Resources’
(ASX:
RRS)
current producing
field
in
East
Texas, North
Chapman
Ranch
§ Orca’s
major
partner
and
operator
of
the
Seabiscuit
Project
will
be
Dan
A.
Hughes
Co.,
a
prominent, independent
petroleum
explora,on
and
produc,on
company
with
a
43-‐year
record
of
success
in drilling,
discovering
and
producing
hydrocarbons
in
the
Gulf
Coast
§ With
over
$400m
in
annual
revenue,
Dan
A.
Hughes
has
been
credited
with
discoveries
in
excess 530MMbo
&
1.6Tcf
§ Hughes
holds
a
50%
working
interest
in
the
Seabiscuit
Project.
§ Other
US
oil
&
gas
companies
and
their
management
hold
the
remaining
30%
working
interest.

==> picture [102 x 84] intentionally omitted <==

Seabiscuit
Loca.on

Texas
Gulf
Coast

Geological
Map
of
Texas

==> picture [102 x 84] intentionally omitted <==

Seabiscuit
Loca.on
(cont.)

§ The
Seabiscuit
Project
is located
along
the
Texas Gulf
Coast
in
Matagorda County,
within
the expanded
Frio
producing trend

§ The
prospect
is
on
trend with
several
recent discoveries
and
world class
oil
and
gas
fields

==> picture [395 x 336] intentionally omitted <==

Regional
Produc,on
Map

==> picture [102 x 84] intentionally omitted <==

**Seabiscuit

Structure**

§ The
Seabiscuit
Project
is
a
large
structural
closure
with
an
area
of
approximately
1,750
acres on
the
Gulf
Coast
§ It
is
located
in
an
ideal
geological
sewng
on
trend
with
recently
drilled
wells
flowing
at sustained
rates
of
20
million
cubic
feet
of
natural
gas
and
200
barrels
of
oil
per
day,
without any
fracture
s,mula,on
§ A
17,500
O.
well
has
been
proposed
to
test
the
Seabiscuit
trap
that
is
es,mated
to
contain prospec,ve
resources
of
more
than
300
billion
cubic
feet
of
natural
gas
(Bcf)
and
3
million barrels
of
oil
(MMbo)
or
condensate
(mid
case
scenario)
§ Depending
on
reservoir
thickness
and
column,
Seabiscuit
could
contain
prospec,ve resources
more
than
1
trillion
cubic
feet
of
natural
gas
(Tcf)
and
10
million
barrels
of
oil (MMbo)
or
condensate
(high
case
scenario)
§ The
Seabiscuit
project
was
delineated
from
high
quality
3D
seismic
data,
the
oil
and
gas industry's
best
tool
for
imaging
hydrocarbon
traps

==> picture [102 x 84] intentionally omitted <==

Seabiscuit
Structure
(cont.)

==> picture [445 x 369] intentionally omitted <==

§ 3D
seismic
data clearly
indicate
the presence
of
a
large, 3-‐way
dip
closure
at the
Upper
Tex
Miss objec,ve

§ Up-‐thrown
fault traps
such
as Seabiscuit
are
well known
to
be produc,ve
along
the prolific
Texas
Gulf Coast

==> picture [102 x 84] intentionally omitted <==

**Seabiscuit

Geological
Summary**

§ Nearby
wells
have
confirmed
hundreds
of
feet
of
high
quality
reservoir
sandstones,
and
the proposed
well
is
expected
to
penetrate
the
objec,ve
forma,on
approximately
500
feet
higher
than the
closest
well
which
is
4
km’s
away
and
produced
gas
and
condensate
from
the
very
top
of
the objec,ve
sec,on
§ All
of
the
nearby
wells
have
encountered
thick,
high
quality
porous
sandstones,
indica,ng
that
the risk
of
poor
reservoir
rock
is
low
§ Seismic
interpreta,on
indicates
that
the
reservoir
rocks
were
in
a
trapping
posi,on
in
,me
to receive
hydrocarbon
charge,
and
this
is
supported
by
other
discoveries
along
trend
§ Once
formed,
the
Seabiscuit
trap
was
buried
beneath
an
es,mated
8500
O.
of
impermeable
shale, which
formed
an
ideal
seal
to
keep
the
oil
and
gas
in
place
§ The
targeted
objec,ves
at
Seabiscuit
are
the
same
age
as
those
found
produc,ve
in Old
Ocean Field (4.9
Tcf)
approximately
53
km
northeast
of
the
prospect,
and East
Bay
City
Field (500
Bcf)
approximately
43
km
to
the
northeast.

The
latest
discovery
along
trend
at
the Silverspoon Field , located
approximately
24
km
northeast
of
Seabiscuit,
came
on
line
at
over
18
MMcfd
and
has produced
9.9
Bcf
and
100,000
barrels
of
oil
in
just
over
2
years

==> picture [102 x 84] intentionally omitted <==

**Seabiscuit

Seismic**

==> picture [432 x 375] intentionally omitted <==

§ Seabiscuit
was mapped
on
high quality
3D
seismic data,
processed
with state-‐of-‐the-‐art
Pres-‐ stack
,me
migra,on § NW-‐SE
dip
lines
show the
main
trapping fault
and
posi,on
of Seabiscuit
updip
to produc,ve
wells

3D
Seismic
Dip
Line

==> picture [102 x 84] intentionally omitted <==

Seabiscuit
Seismic
(cont.)

==> picture [459 x 375] intentionally omitted <==

§ NE-‐SW
strike
lines show
the
cri,cal
dip reversal
on
strike necessary
for
a large,
up-‐thrown fault
trap.

§ 3D
seismic
supports the
interpreta,on that
the
Seabiscuit trap
was
in
place well
before hydrocarbon migra,on
occurred.

3D
Seismic
Strike
Line

==> picture [102 x 84] intentionally omitted <==

**Tex

Miss
Target:
World
Class
Reservoir**

==> picture [200 x 202] intentionally omitted <==

§ As
evidenced
by
the
Devon Harrington
#1
well
in
the
nearby Silverspoon
Field
(type
well),
the
Tex Miss
has
the
poten,al
for
massive sand
development
with
excellent porosity
and
permeability

§ The
Devon
well
produced approximately
9.9
Billion
Cubic
Feet of
natural
gas
and
100,000
barrels
of oil
in
its
first
25
months
of produc,on

==> picture [200 x 177] intentionally omitted <==

==> picture [102 x 84] intentionally omitted <==

**Drilling

Timetable
&
Fiscal
Terms**

§ The
first
well
is
expected
to
be
drilled
in
Q1,
2012

§ Orca’s
share
of
drilling
costs
(OGY
-‐
20%)
will
be
circa
$US1.8m
§ NRI
–
72%
(Standard
for
US
oil
&
gas
plays
of
this
nature)
§ Mid
case
success
scenario
would
call
for
6-‐10
development
wells
to
be
drilled
§ NPV
on
“mid
case
scenario”
is
circa
$US360MM
(gross)
–
refer
appendix
on
page
20
§ NPV
on
“high
case
scenario”
is
circa
$US1.8B
(gross)
–
refer
appendix
on
page
20
§ Operator
es,mates
the
geological
chance
of
success
(CoS)
at
between
50%
-‐
75%
§ Independently
reviewed
by
RISC
Pty
Ltd
whose
geological
CoS
was
between
50%
-‐
60%
§ Both
es,mates
represent
a
very
low
risk
for
such
an
explora,on
prospect

==> picture [102 x 84] intentionally omitted <==

**Cooper

Basin**

§ PEL
115
(OGY
42%)
Oil
discovery
in
December
2009
(Fury-‐1)
13m
gross
oil
column
with
an
interpreted
range
of
volumes
of
oil
in
place
from
a mean
7.99MMbo
to
a
highside
17.44MMbo*
Tes,ng
and
comple,on
delayed
due
to
heavy
rain
&
flooding
in
the
Cooper
Basin
JV
review
of
economics
currently
underway
Significant
unconven,onal
shale
gas
resource
poten,al
Adjacent
to
JV
partner
and
operator’s
100%
owned
block,
PEL
516
Senex
Energy
Limited
(ASX:
SXY)
is
drilling
up
to
3
wells
on
PEL
516
in
the
next
9 months
and
es,mates
over
100Tcf
Gas-‐in-‐Place
resource
poten,al
(ASX presenta,on
–
October
2011)
§ PEL
110
(OGY
20%)
Highly
prospec,ve
explora,on
block
Seismic
work
planned
for
2012

*Independent
report
by
MBA
Petroleum
Consultants,
Brisbane
based
petroleum
consultancy
company

==> picture [102 x 84] intentionally omitted <==

PEL
115
Loca.on

==> picture [620 x 370] intentionally omitted <==

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

PEL
115
–
Orca
Energy
42%
----- End of picture text -----

==> picture [102 x 84] intentionally omitted <==

**PEL

115
–
Large
Shale
Poten.al**

Coal Seam Methane & Shale Gas Potential

§ Extensive gas zones have been identified in deep coal/shale units throughout the Cooper Basin.
§ Endorsed and promoted by major Cooper basin players: Santos, Drillsearch, Beach
§ Senex have estimated over 100 Tcf Gas-in-Place resource potential
seams.
§ PEL 115 contains previous drilling with intersections of coal § PEL 115 located in the heart of prospective CSM/Shale Gas acreage.

Paleochannel “ stranded ” oil prospects

§ Recent discoveries nearby – analogous to Growler, Snatcher.
§ Previously ignored in Cooper Basin § Large scale potential identified on PEL 115.

==> picture [102 x 84] intentionally omitted <==

Summary

§ Orca
Energy
has
managed
to
secure
a
world
class
oil
&
gas
explora,on project
with
“company
making”
upside

§ The
Seabiscuit
JV
partners
and
operator
are
significant
players
in
the
Gulf Coast,
USA
and
provide
the
exper,se
and
funding
required
to
achieve success

§ Drilling
is
imminent
with
work
having
already
begun
to
prepare
for
Q1, 2012
ac,vity

§ The
Cooper
Basin
assets
and
specifically
PEL
115
provides
Orca
with
a strategically
valuable
block
in
the
current
shale
gas
environment

§ Strong
corporate
management
team
with
history
of
success
and
focused on
delivering
results

==> picture [102 x 84] intentionally omitted <==

**Assump.ons

for
Seabiscuit
NPV’s**

§ Most

likely
Case

Assumes
a
10-‐well
development
averaging
20
Bcf
&
200
Mbo
per
well
– Average
well
cost
of
$9MM
– Oil
price
of
$85
per
barrel
and
gas
price
of
$4.50
per
Mcf
– Current
state
severance
tax
assump,ons
used
– Opera,ng
expenditure
of
$5,000
per
month
– Discount
rate
of
10%
NRI
of
72%
– Gross
NPV
of
the
project
=
$360m

§ Upside

Case

Assumes
a
30-‐well
development
averaging
30Bcf
&
300
Mbo
per
well
– Average
well
cost
of
$9MM
– Oil
price
of
$85
per
barrel
and
gas
price
of
$4.50
per
Mcf
– Current
state
severance
tax
assump,ons
used
– Opera,ng
expenditure
of
$5,000
per
month
– Discount
rate
of
10%
– NRI
of
72%
Gross
NPV
of
the
project
=
$1.8b

It
should
be
noted
that
these
assump,ons
are
based
on
prospec,ve
resources
that
OGY
has
not
yet
delineated
and
are
subject
to drilling
confirma,on

==> picture [102 x 84] intentionally omitted <==

Orca
Energy
Limited

ASX:
OGY 35
Richardson
Street
|
West
Perth
WA
6005 www.orcaenergy.com.au [email protected]

AI assistant

FIN RESOURCES LIMITED Investor Presentation 2011

64920_rns_2011-10-30_4cbb42fa-4237-45e5-bd46-39edb1d89a85.pdf

**Company

Disclaimer

**Capital

Management

**Senior

Overview

**Seabiscuit

**Seabiscuit

**Seabiscuit

**Seabiscuit

**Tex

**Drilling

**Cooper

**PEL

Coal Seam Methane & Shale Gas Potential

Summary

**Assump.ons

§ Most

§ Upside

AI assistant

FIN RESOURCES LIMITED — Investor Presentation 2011

64920_rns_2011-10-30_4cbb42fa-4237-45e5-bd46-39edb1d89a85.pdf

**Company

Disclaimer

**Capital

Management

**Senior

Overview

**Seabiscuit

**Seabiscuit

**Seabiscuit

**Seabiscuit

**Tex

**Drilling

**Cooper

**PEL

Coal Seam Methane & Shale Gas Potential

Summary

**Assump.ons

§ Most

§ Upside

More from FIN RESOURCES LIMITED

FIN RESOURCES LIMITED Investor Presentation 2011