PACIFIC RESOURCES LIMITED — Investor Presentation 2011

Jul 7, 2011

==> picture [720 x 270] intentionally omitted <==

==> picture [456 x 61] intentionally omitted <==

Investor Update

To be presented at the Noosa Mining & Exploration Conference 14-15 July 2011

==> picture [140 x 20] intentionally omitted <==

==> picture [720 x 81] intentionally omitted <==

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

General Disclaimer
----- End of picture text -----

• This document has been prepared by COALBANK Limited (the Company) to provide existing and prospective investors in COALBANK Limited with an update on the Company and its operations.

• This presentation, including the information contained in this disclaimer, does not constitute an offer, invitation or recommendation to subscribe for or purchase any security and neither the presentation, disclaimer nor anything contained in them forms the basis of any contract or commitment. This presentation does not take into account your individual investment objectives, financial situation or particular needs. You must not act on the basis of any matter contained in this presentation, but must make your own assessment of the Company.

• No representation, express or implied, is made as to the fairness, accuracy, completeness or correctness of information contained in this presentation, including the accuracy, likelihood of achievement or reasonableness of any forecast, prospects, returns or statements in relation to future matters contained in the presentation (“forward-looking statements”). Such forward-looking statements are by their nature subject to significant uncertainties and contingencies and are based on a number of estimates and assumptions that are subject to change (and in many cases are outside the control of COALBANK Limited and its directors) which may cause the actual results or performance of COALBANK Limited to be materially different from any future results or performance expressed or implied by such forward-looking statements.

• To the maximum extent permitted by law, none of COALBANK Limited, or their related corporations, directors, employees or agents, nor any other person, accepts any liability, including, without limitation, any liability arising from fault or negligence, for any loss arising from the use of this presentation or its contents or otherwise arising in connection with it.

==> picture [140 x 20] intentionally omitted <==

==> picture [720 x 81] intentionally omitted <==

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

Contents
----- End of picture text -----

• Introduction

• Overview

• Investment Highlights

• Project Team

• Queensland Coal Regions & Recent Acquisitions

• Tambo Project

• East Surat & Bowen Basin Projects

• Exploration Plans

• Summary

==> picture [140 x 20] intentionally omitted <==

==> picture [720 x 81] intentionally omitted <==

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

Introduction
----- End of picture text -----

Key Metrics:

Source – IRESS, quarterly reports Significant Shareholders o Allegro Capital Nominees Pty Ltd 58.5% o Square Resources Pty Limited 3.5% o Oliver Lennox-King 2.2% ASX Code CBQ Shares on issue 679,597,740 Current share price 4.5 cents Market Capitalisation $30.5m Cash on hand $1.6m	ASX Code	CBQ
	Shares on issue	679,597,740
	Current share price	4.5 cents
	Market Capitalisation	$30.5m
	Cash on hand	$1.6m

==> picture [140 x 20] intentionally omitted <==

==> picture [720 x 81] intentionally omitted <==

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

COALBANK Overview
----- End of picture text -----

Coal

One of Australia’s largest holder of Queensland coal acreage

• 27 Granted EPCs

• Over 24,000 km[2 ] held

• Includes significant contiguous holding in western Surat Basin exceeding 21,000 km[2]

Petroleum & Gas

• Holds over 20,000 ha of Petroleum & Gas Authorities to Prospect in Queensland - 1 granted ATP, 3 offered and proceeding to grant

• Over 20,000 km[2 ] held

• Prospective for CSG and shale gas, also conventional oil and gas plays

Minerals

Currently retains copper & gold mineral exploration permits near Mt Morgan and Chillagoe

==> picture [140 x 20] intentionally omitted <==

==> picture [720 x 81] intentionally omitted <==

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

Investment Highlights
----- End of picture text -----

Large strategic holding in Queensland coal bearing regions

Potentially significant coal and CSG projects in Walloon Coal Measures

Initial drilling targets identified

Weather conditions now favourable to resume drilling

Continued discussions with domestic and international entities, which may (or may not) develop into possible JV partnerships or asset divestments

==> picture [140 x 20] intentionally omitted <==

==> picture [720 x 81] intentionally omitted <==

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

Experienced Project Team
----- End of picture text -----

Staffan Ever Chief Executive, MBA, M.Sc, (Civil Eng)

Strong experience in the coal sector. Former CEO of QCoal, former General Manager of AMCI Australia (12 years with AMCI). Strong experience in managing and financing coal projects from greenfields to production and marketing. Previously undertook and oversaw equity investments in Gunnedah, Glennies Creek, Coppabella and Moorvale mines.

Bruce Patrick General Manager, B.Sc, (Hons), Grad Dip Mgt, Cert. in Mining, MAusIMM Project Manager for Anglo Coal’s $800m Lake Lindsay Project, managing the project from initial exploration, through feasibility and approvals, to construction. Open-cut mining project management roles in Anglo Coal’s Operations and Projects and Engineering Group. Early career as a geologist for Coal and Allied Industries and Thiess Mining Division where he assisted in further defining the stratigraphy of the Surat Basin. At Callide Mine in Central Queensland he moved to mining engineering and mine operational management roles.

Dr Peter Jorgensen Senior Geologist, BSc (Hons), PhD, MAusIMM

Over 18 years experience in the Queensland coal industry, more than 20 years general geological experience. Previous roles in exploration, mine site geology and resource evaluation with Anglo Coal, Shell Coal and as a self-employed contract geologist.

==> picture [140 x 20] intentionally omitted <==

==> picture [720 x 81] intentionally omitted <==

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

continued
Experienced Project Team …
----- End of picture text -----

Lance Grimstone Consultant & Director, B.Sc. (Hons) Geol. Grad.Dipl. Mangt., F.AusIMM, CPGeo.M.MICA.

Expert Geologist with over 40 years’ experience in the exploration, mining and civil engineering industries. For the last 25 years has operated his own consultancy practice based principally upon his expertise in eastern Australian coal operations. Lance was a key geological consultant to Macarthur Coal Limited prior to its IPO and for approximately eight years following and remains a specialist consultant to Macarthur Coal.

Greg Baynton Deputy Chairman, M.Econ St., MBA, B.Bus (Accounting), Grad.Dip. Finance and Investment, FFINSIA.

Founder of Tambo Coal & Gas, Moreton Energy and Coalbank. Founding Director of Arrow Energy. Expertise in new project generation, capital raisings, corporate structuring, tenure application and administration, government relations and joint ventures.

==> picture [140 x 20] intentionally omitted <==

==> picture [720 x 81] intentionally omitted <==

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

Queensland Coal Regions & COALBANK Projects
----- End of picture text -----

COALBANK Projects COALBANK COALBANK Projects /Surat Gas ATPs

==> picture [140 x 20] intentionally omitted <==

==> picture [720 x 81] intentionally omitted <==

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

Recent Coal Acquisitions in Queensland
----- End of picture text -----

==> picture [194 x 165] intentionally omitted <==

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

Linc Assets to
Adani Enterprises
Mineralogy
acquired 93%
interest in Waratah
Coal
Hancock
Prospecting (Alpha
& Kevin’s Corner)
to GvK (pending)
----- End of picture text -----

==> picture [364 x 399] intentionally omitted <==

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

Thermal Coal Price
Forecast (USD/t)
200
150
100
50
0
Source: Citigroup Global Markets 6 July 2011
Norton Goldfields
EPC1033 to Boardwalk
Sienna Pty Ltd
Aston Resources farm-
in - Dingo
Tiaro Coal Ltd acquired
50% in Bundaberg Coal
Exploration Project
New Hope Corp. Ltd
acquired 80% Northern
Energy Corp. Ltd
Anglo Surat projects
sold to Cockatoo Coal
Limited & POSCO
----- End of picture text -----

==> picture [140 x 20] intentionally omitted <==

==> picture [720 x 540] intentionally omitted <==

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

Coal Projects in Our Region
Tambo Biloela
Projects South
Tambo
Chinchilla
East
Coal
Creek
Coalbank
South
----- End of picture text -----

Tambo Coal Projects

==> picture [720 x 355] intentionally omitted <==

==> picture [140 x 20] intentionally omitted <==

==> picture [720 x 81] intentionally omitted <==

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

Target Seam Geometry - Examples
----- End of picture text -----

==> picture [133 x 143] intentionally omitted <==

DEPOSIT STYLE MEANS THAT NETT COAL THICKNESS CAN VARY RAPIDLY ALONG STRIKE

==> picture [208 x 134] intentionally omitted <==

WALLOON COAL MEASURE SEAM GEOMETRY

==> picture [34 x 40] intentionally omitted <==

==> picture [557 x 40] intentionally omitted <==

After Jones & Patrick (1981 )

==> picture [720 x 81] intentionally omitted <==

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

COALBANK Project Areas & New Targets
----- End of picture text -----

==> picture [697 x 384] intentionally omitted <==

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

Blackall Project
Walloon Coal
Central Project Measures
Discoveries
East Energy Xstrata
Resources Chinchilla Wandoan coal
Carlow resources 4.5
resource Southern CSG Fields East BT
749MT Project Lacerta/Don Project
Juan
----- End of picture text -----*

• Xstrata – “Mineral Resources and Ore Reserves as at 30 June 2010”

==> picture [140 x 20] intentionally omitted <==

==> picture [720 x 81] intentionally omitted <==

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

Blackall Project
----- End of picture text -----

==> picture [220 x 173] intentionally omitted <==

Blackall Project Key Details Est coal depths 22-152m Number of initial target 3 deposits Region size 1,484 km[2] Indicative drilling time July/August

EPC No. Historical Data Source Target (all information from original drilling log descriptions)

EPC No. Historical Data Source Target (all information from original drilling log descriptions)	EPC No. Historical Data Source Target (all information from original drilling log descriptions)	EPC No. Historical Data Source Target (all information from original drilling log descriptions)
1993	Registered water bore	12m coal seam from 140m
1993	Registered water bore	8m coal shale from 36m (coaly thickness unspecified)
1993	Registered water bore	62m shale and coal seams from 22m (coaly thickness unspecified)

==> picture [140 x 20] intentionally omitted <==

==> picture [720 x 81] intentionally omitted <==

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

Blackall Project – Resource Potential
----- End of picture text -----

The owners of the adjoining EPC 1149 have recently announced a maiden JORC compliant coal resource of a contiguous target area (749Mt indicated and inferred)

==> picture [460 x 321] intentionally omitted <==

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

Indicated 469 MT
Inferred 280 MT
----- End of picture text -----*

==> picture [166 x 270] intentionally omitted <==

•Water bore log data

==> picture [140 x 20] intentionally omitted <==

Source of East Energy Resources Limited Alambi Target Area outline - East Energy Resources Limited ASX announcement 17 May 2011 Carlow Coal Resource Tonnes & outline: East Energy Resources Limited ASX Announcement 7 June 2011 – Xenith Consulting Estimate (April 2011)

==> picture [720 x 81] intentionally omitted <==

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

Central Project
----- End of picture text -----

==> picture [220 x 173] intentionally omitted <==

Central Project Key Details Est coal depths 18-270m Number of initial target 7 deposits Region size 12,624 km[2] Indicative drilling time July

EPC No. Historical Data Source Target (all information from original drilling log descriptions)

	1415	Registered water bore	Over 10 coaly horizons (up to 5.8m thick) between 18 and 124m
	1415	Registered water bore	3m of coal at 30m plus 3m of coal at 70m
	1418	Registered water bore	9m of coal at 52.5m
	1482	Registered water bore	15m of coal at 201m plus 10m of banded coal at 275m
	1484	Registered water bore	7m interbedded coal, black shale, siltstone and sandstone at 24m
	1644	Registered water bore	30m coal at 270m
	1776	Registered water bore	3.5m coal & sandstone at 13.5m, 14m coal & shale at 96m

==> picture [140 x 20] intentionally omitted <==

==> picture [720 x 81] intentionally omitted <==

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

Southern Project
----- End of picture text -----

==> picture [220 x 173] intentionally omitted <==

Southern Project Key Details Est coal depths 20m – 150m Number of initial target 5 deposits Region size 7,490 km[2] Indicative drilling time September

EPC No. Historical Data Source Target (all information from original drilling log descriptions)

EPC No. Historical Data Source Target (all information from original drilling log descriptions)	EPC No. Historical Data Source Target (all information from original drilling log descriptions)	EPC No. Historical Data Source Target (all information from original drilling log descriptions)
1623	Registered water bore	6m coal at 18m
1788	Registered water bore	30m of interbedded shale siltstone and coal at 148m
1789	Registered water bore	22.5m of interbedded coal and shale/sandstone at 120m
1794	Registered water bore	2m coal at 31m plus 28m interbedded coal/shale/sand at 110m
1795	Registered water bore	16m interbedded coal and stone bands at 85m

==> picture [140 x 20] intentionally omitted <==

==> picture [720 x 81] intentionally omitted <==

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

Chinchilla East Project
----- End of picture text -----

==> picture [220 x 173] intentionally omitted <==

Chinchilla East Project Key Details Est coal depths 20 – 70m Number of initial target 1 deposits Region size 537 km[2] Indicative drilling time December

EPC No. Historical Data Source Target (all information from original drilling log descriptions)

EPC No. Historical Data Source Target (all information from original drilling log descriptions)	EPC No. Historical Data Source Target (all information from original drilling log descriptions)	EPC No. Historical Data Source Target (all information from original drilling log descriptions)
2056	Exploration Bore	6.25m inter-bedded coal and stone bands between 17 and 38m
2056	Registered water bore	9.9m coal and shale at 20.4m
2056	Registered water bore	5.9m coal between 15.6 to 66.6m

==> picture [140 x 20] intentionally omitted <==

==> picture [720 x 81] intentionally omitted <==

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

COALBANK Developed New Interpretations
----- End of picture text -----

COALBANK re-evaluated the stratigraphy of the Tambo project area using advanced photogeology interpretation methods. This powerful tool clarified the stratigraphic position of many of the coal-bearing horizons identified from the waterbore dataset. It also revealed additional areas to target with field reconnaissance and exploration drilling.

==> picture [478 x 398] intentionally omitted <==

==> picture [34 x 40] intentionally omitted <==

Photogeology

East Surat and Bowen Basin Projects

==> picture [720 x 355] intentionally omitted <==

==> picture [140 x 20] intentionally omitted <==

==> picture [720 x 81] intentionally omitted <==

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

East Surat and Bowen Basin Projects
----- End of picture text -----

==> picture [392 x 274] intentionally omitted <==

• Three Eastern Queensland projects

• Close to major coal deposits, rail infrastructure and ports

• All have coal intersections at shallow depths reported in the waterbore logs eg. 24.4 metres of coal in EPC2239

• Geographical diversity should mitigate the impact of adverse weather within the combined portfolio

==> picture [140 x 20] intentionally omitted <==

==> picture [720 x 81] intentionally omitted <==

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

East Surat and Bowen Basin – Selected Targets
----- End of picture text -----

Multiple waterbores showing coal intersections, e.g.:

EPC No. Historical Data Source Target (all information from original drilling log descriptions)	EPC No. Historical Data Source Target (all information from original drilling log descriptions)	EPC No. Historical Data Source Target (all information from original drilling log descriptions)
2239	Registered water bore	3m of coal at 25m
2239	Registered water bore	24.4m of coal at 10.4m
2239	Registered water bore	2.1m of shale & coal at 12.2m plus 5.5m of coal at 27.4m
2240	Registered water bore	6m of black coal at 80m plus 4m of coal at 205m
2240	Registered water bore	6.7m of coal at 15.2m
2240	Registered water bore	3m of coal and shale at 48m
2241	Registered water bore	2m of coal at 14m plus 1m of coal at 19m
2241	Registered water bore	5m of brown coal at 18m
2359	Registered water bore	1.8m of coal at 19.8m
2359	Registered water bore	5m of coal and shale bands at 52m
2359	Registered water bore	2m of coal at 30m plus 1m of coal at 95m

==> picture [140 x 20] intentionally omitted <==

==> picture [720 x 81] intentionally omitted <==

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

2011 Exploration Plans
----- End of picture text -----

Number Of Holes	82 (80 chip, 2 part-cored)	Notes
Timing	July – December 2011
Depth Range	50 – 300m
No. of Rigs	2	Subject to availability

Further targets being identified & prioritised from recently granted EPCs.

Implementation

Implementation
	2011				2012
Task	Q1	Q2	Q3	Q4	Q1	Q2	Q3	Q4
First-pass drilling on selected targets
Drill follow-up targets to JORC Resource level
First-pass drilling on selected targets for newer EPCs
Concept Study Drilling

==> picture [140 x 20] intentionally omitted <==

==> picture [720 x 81] intentionally omitted <==

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

Summary
----- End of picture text -----

 COALBANK is an explorer and developer of early stage coal assets

 Aim to unlock value through exploration and geological expertise

• Introduce strategic partners upon exploration success to realise value

 A significant landholding in an emerging coal basin

• In excess of 21,000 km[2] across the Surat coal basin west of Roma in Queensland

• Additional projects in other coal basins close to operating coal mines

• Historical water bore records indicate significant coal intersections across tenement position

• At 24,000 km[2 ] one of the largest coal exploration footprints in Australia

 A team with a track record of success

• A geological team with a history of involvement in major coal resource finds in Queensland coal basins

• Coalbank has appointed RBS Morgans Corporate Limited and Patersons Securities Limited to advise on funding alternatives for the targeted exploration program.

==> picture [140 x 20] intentionally omitted <==

==> picture [720 x 81] intentionally omitted <==

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

Competent Persons Statement
----- End of picture text -----

The Competent Persons Statement below relates to the Investor Presentation by COALBANK Limited.

‘The information in this report that relates to previous waterbore and petroleum well drilling results is derived from data provided by the Queensland Government Department of Natural Resources and Water and open file reports obtained via the Queensland Department of Mines and Energy, with information compiled by Dr Peter Jorgensen BSc(Hons), PhD, MAusIMM. Dr Peter Jorgensen is employed by Jorgensen Geological Services Pty Ltd (ABN 32 080 949 775). Dr Peter Jorgensen has sufficient coal geology experience to qualify as a Competent Person as defined by the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Dr Peter Jorgensen consents to the inclusion in the presentation of the matters based on his information in the form and context in which it appears.’

==> picture [140 x 20] intentionally omitted <==

==> picture [720 x 81] intentionally omitted <==

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

End of Presentation
----- End of picture text -----

==> picture [500 x 348] intentionally omitted <==

The COALBANK coal exploration portfolio covers over 24,000 square kilometres in Queensland and represents one of the largest coal exploration footprints in Australia.

==> picture [140 x 20] intentionally omitted <==