PTR MINERALS LTD — Investor Presentation 2009

Nov 26, 2009

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PETRATHERM LIMITED ABN 17 106 806 884

Presentation to the 6[th] SA Explorers’ Conference

Petratherm’s Exploration Manager, Peter Reid, will present later today an update on the Paralana – Engineered Geothermal Energy Project to the 6[th] SA Explorers’ Conference being held at the Adelaide Convention Centre.

Refer to attached presentation.

Yours faithfully

27 November 2009

ASX Code: PTR

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Terry Kallis Managing Director

ABN 17 106 806 884

Level 1,129 Greenhill Road Unley SA 5061

T: +61 8 8274 5000 F: +61 8 8272 8141 W: www.petratherm.com.au/ E: admin@petratherm.com.au

MEDIA CONTACTS:

Terry Kallis Petratherm Ltd 08 8274 5000 Kieran Hall / Tim Hughes Hughes Public Relations 08 8412 4100

The Paralana – Engineered Geothermal Energy Project

6[th] SA Explorers Conference

Presented by Exploration Manager, Peter Reid

Friday, November 27, 2009

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Disclaimer
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This presentation has been prepared by Petratherm Limited (Petratherm). The information contained in this presentation is a professional opinion only and is given in good faith.

Certain information in this document has been derived from third parties and though Petratherm has no reason to believe that it is not accurate, reliable or complete, it may not have been independently audited or verified by Petratherm.

Any forward-looking statements included in this document involve subjective judgment and analysis and are subject to uncertainties, risks and contingencies, many of which are outside the control of, and maybe unknown to, Petratherm. In particular, they speak only as of the date of this document, they assume the success of Petratherm’s strategies and they are subject to significant regulatory, business, competitive and economic uncertainties and risks. Actual future events may vary materially from the forward looking statements and the assumptions on which the forward looking statements are based. Recipients of this document (“Recipients”) are cautioned not to place undue reliance on such forward-looking statements.

Petratherm makes no representation or warranty as to the accuracy, reliability or completeness of information in this document and does not take responsibility for updating any information or correcting any error or omission which may become apparent after this document has been issued.

To the extent permitted by law, Petratherm and its officers, employees, related bodies corporate and agents (“Agents”) disclaim all liability, direct, indirect or consequential (and whether or not arising out of the negligence, default or lack of care of Petratherm and/or any of its Agents) for any loss or damage suffered by a Recipient or other persons arising out of, or in connection with, any use or reliance on this presentation or information.

All amounts in Australian dollars (AUD) unless stated otherwise.

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Why Paralana?
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Evidence for Thermal Anomalism

• › Hot Springs

• › Fossil Hydrothermal Breccias

• › Elevated groundwater temperatures

• › High heat flow (Mt Gee 126 mWm[-2)]

• › Poontana basin insulator

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Exploring for Heat – Paralana Project
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62uWm[-3] 22uWm[-3 ] Insulator Up to 20 times normal granite: average = 8 times

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Permian
Mt Painter Basement
Adelaidean
Curnamona
Mt Painter Basement Basement
Normal basement
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Early modelling indicated 200[o] C at approximately 3.6 - 4 km

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Poontana Basin 109[o] C

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› Heat flow of 129 mWm [-2]
› Modeled 200 [o] c at ~ 3.6 – 4 km
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(Seismic Line 84 SPG)

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Development Model – Heat Exchanger Within Insulator
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› Higher Permeability › Chemically Stable › Lower Frac Challenge? › Adelaidean – bedding / joint surfaces

• = Cheaper Power!

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Paralana Project – Commercial Overview
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• › Commercially viable at all stages. Small off grid market (5-30MWe) (Heathgate) followed by large on grid development (260 MWe+)

• › Expenditure well leveraged for proof of concept, then potentially fully funded to initial commercial demonstration scale 30MW plant

• › Funding and expertise from JV Partners, Beach Petroleum (up to 36 per cent for $30m) and TRUenergy (up to 30 per cent for $57m)

• › Strong Federal Government grant support - $7 million geothermal drilling fund and $62.762 million REDP grant

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Passive Seismic Array
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MEQ - Array Managed by IESE

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Recording Period April 08 – June 09

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Pre-stimulation Seismic Events
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Recording Period April 2008 to June 2009

Array detecting small events

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Paralana 2 – Drilling

 New Weatherford Owned

2000HP Le Tourneau Lightning Rig

 57 metres high ~ 10 Stories

• Arrived at Port Pirie 11 May 09

• 80 Semi-Trailer Loads

• Spudded June 30, 2009

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Paralana 2 - Operations
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• › Petratherm/Beach – extensive stakeholder and community consultation – Adnyamathanha Community, Beverley

• Uranium Mine , Epic Pipe line, Arkaroola Village

• › Beach Petroleum – Manager of Drilling Operations

• › HSE - to date no lost time injuries

• › Only minor shake down issues

• › Hand-picked experienced drill crew provided

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Scenario Planning vs. Murphy’s Law

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Paralana 2 – Drilling

• Hard Rock Formations – slow ROP 1-3 m/hr

• Tested several BHA arrangements to optimize ROP

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• Conservatively drilled to maximize likelihood of success

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Paralana 2 - Drilling Completed to 4012 M – 9 Nov 2009
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• › First well designed following low-risk, standard operating methods

• › Steady but slow drilling due to hard formations

• › Conservatively drilled to ensure success

• › Wireline and LWD logging to be completed this week

• › Well is to be cased and cemented

• › Temperature measurements to be undertaken in 4 weeks after casing

• › Inflow zones encountered from 3690m

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Paralana 2 – geothermal brines
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• › Inflow zones from 3690m

• › Brine samples taken

• › Wireline Logging Program –

Reservoir Characterisation!

• › Temperature

• › Permeability

• › Insitu stress field

• › Geology

• › Rock Properties

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Current Planned Future Work Program
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• › November 2009: Wireline Logging

• › 1[st] Qtr 2010: Mini frac program/fracture stimulation design

• › 2[nd] Qtr 2010: Multizone fracture stimulation

• › 3[rd] Qtr 2010: drilling of the Paralana 3 deep producer well

• › End 2010: Circulation Test – Proof of Concept

• › Early 2011: Commission first stage power plant

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www.petratherm.com.au

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