PTR MINERALS LTD — Investor Presentation 2009

Aug 17, 2009

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PETRATHERM LIMITED ABN 17 106 806 884

SA Future Energy Conference

Petratherm Managing Director, Mr Terry Kallis, will later this afternoon present an update on the Company’s activities to the second day of Informa’s South Australian Future Energy Conference in Adelaide.

The primary focus of the presentation is an update on the Company’s activities and in particular the Paralana Geothermal Energy JV Project.

Yours faithfully

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Terry Kallis Managing Director

18 August 2009

MEDIA CONTACTS:

ASX Code: PTR

Terry Kallis Kieran Hall / Tim Hughes

Petratherm Ltd 08 8274 5000 Hughes Public Relations 08 8412 4100

ABN 17 106 806 884

105-106 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

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South Australia’s Future Energy

“Building a portfolio of quality geothermal energy projects - Australia and Overseas”

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18 August 2009

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Presented by Terry Kallis (Managing Director)

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Disclaimer

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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Presentation Outline

• Corporate DVD (8 minutes)

• Corporate Overview

• Geothermal Energy Technology

• Paralana Project

– Overview

– JV arrangements

– Drilling program and fracture stimulation

• Key Points of Differentiation

• Outlook for Calendar 2009

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Corporate Overview (PTR.AX)

Madrid & Barcelona – direct use heat, EGS and hydrothermal

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China – Exclusive exploration agreement

Key Statistics

• Current shares on issue – 92 m

• Market capitalization - $28.5m (at share price of $0.30)

• Cash – June 30 $13 m

• Grants - GDP $7.0m

• Grant Application – REDP $62.8 m

• 3100 Shareholders with major shareholder - Minotaur Exploration (22%)

Projects

• Projects spanning Australia, Spain and China – EGS, conventional volcanic, hot sedimentary aquifer & direct use heat

• Flagship project – Paralana

• Exciting growth projects :

Tenerife & Gran Canaria – conventional volcanic

Paralana, Renmark & Victoria

• Direct heat, conventional and EGS geothermal projects covering Madrid, Barcelona, Canary Islands and Victoria’s East Gippsland Basin

• Exclusive government supported exploration agreement in China

Joint Venture Partners

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Corporate Mission & Business Model

“ Mission to explore for and develop, emission free, geothermal energy projects that are commercially sustainable ”

Business Model

“ to develop a portfolio of quality geothermal energy projects conventional and EGS – for power and/or heat – where there is a favourable combination of geology and market conditions - and introduce joint venture partners with skills, risk appetite and funding ability to further develop projects through to production”

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Petratherm Board

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Derek Carter Derek Carter Chairman Chairman

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Simon O’Loughlin Director

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Richard Hillis Director

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Highly experienced Board with combination of commercial and technical skills including:

• Corporate governance

• Financial management

• Legal

• Marketing

• Project Management

• Exploration and development

• Geology/Geophysics

• Resources and energy

• Government and stakeholder relations

Terry Kallis Managing Director

Donald Stephens Company Secretary

Richard Bonython Director

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Corporate Overview – Skills & Capabilities

Combined skills and experience of the Board Management, Partners and Consultants capable of delivering successful geothermal energy projects – from underground resource through to market

• Beach Petroleum

• TRUenergy (CLP Group)

• Geothermal Explorers

• Expert Consultants

Subsurface – well design, drilling and fracture stimulation

Power generation, transmission and sales EGS reservoir/project development

Prof. Richard Hillis and Dr Martin Hand (Adelaide University)

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Geothermal Energy Technology - Project Portfolio

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TAG – thermally anomalous granite EGS technology – hot rocks Large systems – low enthalpy Abundant resource Requires large commercial demonstration

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TAG
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Paralana – EGS – power production

East Gippsland – Hot sedimentary aquifer

Tenerife and Gran Canaria – volcanic conventional, high enthalpy systems, proven technology, potential for high yielding wells for power production of 50 MW to 100 MW

Madrid and Barcelona – both EGS and district

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Paralana Project - Overview

� Uniquely positioned to be potentially commercially viable at all Stages!

• High heat flow rate (128mW/m²) and predicted Temperature of 200˚C at a depth of 3600 metres

• Stable geological formation and expect no overpressures – suggests good drilling conditions

• Very close to market for initial plant (up to 7.5MW).

• Off grid market ~ Heathgate Resources’ Beverley Uranium Mine (11km) and Four Mile.

• Sub-surface and above surface .

• expertise

• After HEWI, potentially fully funded to initial commercial, demonstration scale 30 MW plant.

• Endorsement from major industry participants – JV with Beach and TRUenergy (refer later)

• $5M Federal REDI & $7M GDP Grants

• Ability to scale-up in commercially viable increments (7.5, 30, 260 and 520 MW) reduces risk

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Paralana Project Joint Venture

� Beach Petroleum Farmin (Jan 2007) for up to $30M for 36%

• $5M first well and stimulation

• $5M second well and stimulation – earns 21%

• After HEWI - Option to earn a further 15% for $20M

• Plus equity share of project costs at every stage

� TRUenergy Farmin (Aug 2008) for up to $57M for 30%

• $3M first well and stimulation

• $3M second well and stimulation – earns 10%

• After HEWI, have an Option to earn a further 5% for $7M

• After 7.5 MW pilot plant - Option to earn a further 15% for $44M

• Plus equity share of project costs at every stage

Beach Petroleum, TRUenergy and Petratherm have complementary sets of skills and represent a formidable collaboration for the Paralana Project

Under the Paralana JV - prior to the use of grant funds - the first $8.0 M for each well is sourced from Beach $5.0 M, TRUenergy $3.0 M

GDP and REDI grants further support the funding of the Paralana JV

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Paralana Project
109 [o] C
•
Heat flow of 128 mWm [-2]
petra therm
•
Modeled 200 [o] c at 3.6km
(Seismic Line 84 SPG)
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Paralana 2 - Development Path to date

• 2D Reflection Seismic and MT Surveys

• Installed Passive Seismic Array (IESE)

• Cleared 1km x 2km development site

• Casing and well head ordered

• Camp Established and Crew Trained

• Drilling rig arrived, transported, assembled and drilling at a depth of ???

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Paralana 2009 Development Plan

• June 2009 First Deep Well to ~ 4 Kms

• Well testing and stimulation program

• • First half 2010 Second Deep Well

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Heat Exchanger Within Insulator (HEWI) Model

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Paralana 2 Well Drilling

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• Contract 2000 HP Drilling Rig # 828 from Weatherford International Drilling arrived in Port Pirie in May 2009 - Le Tourneau – “ Lightning Rig” built in Dubai

• Paralana 2 well spud in late June 2009

• Well Testing and Stimulation Program to follow after well completion

• Paralana 3 drilling – six to nine months after completion Paralana 2 - first half 2010

• First power to Heathgate Resources’ Beverley Uranium Mine – early 2011

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Paralana Drilling Rig and Camp Site

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Petratherm Key Points of Differentiation

• Unique approach to “exploration for heat” and its commercial assessment of projects - “location, location, location” – resource, market, permits/stakeholders

• HEWI model approach to resource exploitation process for EGS/hot rock that aims reduce costs and risks – also reducing the time for delivery

• Flagship Paralana Project, clear commercial and competitive a

• advantages with a willing potential customer at “off grid” prices and realistic, long term and unique path to commercialization and two quality, complementary JV partners

• Quality international portfolio of projects across geothermal technologies – EGS, District Heating and Volcanic sources – electricity and heat – Australia and Overseas (Spain & China)

• Clear business model – aimed at introducing quality JV partners coupled with a strongly skilled Board, Management team and consultants - track record of successfully delivering projects

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Petratherm Outlook for Calendar 2009

• Finalize the $57M TRUenergy Farm-in � January

• Secure $7M GDP funding for drilling � April

• Spud Paralana 2 deep well (4kms) � June

• Drill/complete well (around 3 to 4 months) followed by , testing logging, fracturing and stimulation program in second half of 2009 (under way)

• Secure $62.8M of REDP funding for 30 MW demonstration project (application lodged)

• Complete Madrid GDH feasibility assessment and concurrently progress potential JV - late 2009 (underway)

• Complete assessment of East Gippsland Project and JV project (late 2009)

• Complete China generative program, establish JV (late 2009)

• Continue to assess and review current and new project

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Thank You petra therm

ASX code: PTR