PACIFIC RESOURCES LIMITED — Investor Presentation 2012

May 14, 2012

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FIELD ACTIVITIES UPDATE

15 May 2012

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General Meeting of Shareholders

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General Disclaimer

• 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.

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Queensland: Emerging Projects and Infrastructure

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Source: ABARE and company public presentations/media.

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Blackall Project – Borehole and Section Location Plan

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Resource Evaluation Drilling Phase

• Completed on time and on budget

• 76 holes drilled (of which 16 were partially cored for sample analysis)

• 7378 metres drilled in total (878 metres cored)

• Drilling data under analysis for coal resources evaluation in accordance with JORC criteria

Blackall Project Next Steps

Task May June Laboratory Analysis of Coal Samples Geological Modelling Coal Resource Evaluation

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Cross section AA[’] (NNW – SSE)

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Cross Section BB[’] : West - East Seam Correlations

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Harvest Metals – Potential Farm-out/Spin-off

• Independent Expert’s Report released February 2012

• JV approaches received on Chillagoe and Mount Morgan projects

 Discussions with potential partners for Chillagoe and Mount Morgan Projects continue

• Site visits with potential partners in progress

• Potential in specie distribution of Harvest Metals to be considered

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Summary

2012 drilling program to achieve maiden JORC-standard resource at Blackall

• Drilling Phase completed on time and within budget

Maiden JORC-standard coal resource statement

• On target for release mid 2012 as previously advised

Harvest Metals

• Site visits and discussions continue with potential partners for Chillagoe and Mount Morgan Projects

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