PTR MINERALS LTD — Investor Presentation 2012

Apr 30, 2012

ASX Release

1 May 2012

ASX Code: PTR

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 PETRATHERM LIMITED ABN 17 106 806 884

Managing Director presents to the South Australian Resources & Energy Investment Conference

Petratherm's Managing Director, Mr Terry Kallis, will later today present to the South Australian Resources & Energy Investment Conference being held at the Hilton Adelaide (refer attached presentation).

The presentation focuses on the Company's progress to date on its flagship Paralana project (located 600km north of Adelaide) and also outlines the Company's exciting new Clean Energy Precinct project, which aims to meet the growing electricity demands of major mining developments in the northwest of South Australia.

Yours faithfully

Terry Kallis Managing Director

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

SAREIC 2012

Petratherm Limited

Company & Projects Overview

Managing Director Terry Kallis

Disclaimer and competent persons statement

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.

The information in this report that relates to Exploration Results, is based on information compiled by Peter Reid, who appears on the Register of Practicing Geothermal Professionals maintained by the Australian Geothermal Energy Group Incorporated at the time of the publication of this report. Peter Reid is a full time employee of the Company. Peter Reid has sufficient experience which is relevant to the style and type of geothermal play under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the Second Edition (2010) of the Australian Code for Reporting Exploration Results, Geothermal Resources and Geothermal Reserves. Peter Reid has consented in writing to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Presentation Outline

• › Corporate and financial overview
• › Video "The Paralana Geothermal project story so far"

› Petratherm's new Clean Energy Precinct project

Petratherm overview – leading explorer/developer

Listed ASX : PTR

• › Shares on Issue: 148.8 million
• › Share Price: $0.059 (30 April)
• › Market Cap: $8.78 million
• › Cash Position:$1.916 million (31 Mar)
• › Shareholders: 3,864 shareholders
  • › Minotaur Exploration 13.78%
  • › Australian Ethical Investments 7.13%

Paralana JV Funding and Grants

• › JV Funding: up to $31.7 million plus equity share of project costs
• › Government grants of $69.8 million toward drilling and commercial demonstration

Our business model – consistent and robust

"To explore for and develop emission free geothermal energy projects that are commercially sustainable"

• › To develop a portfolio of quality geothermal energy projects
• › Explore both conventional and engineered geothermal systems – for power and heat
• › Find a favorable combination of geology and market conditions - "shallow hot rocks close to market"
• › Introduce joint venture partners with common interests, the right skills/knowledge, risk appetite & funding ability

"Right projects, right partners, right people"

Our board – track record of success

Derek Carter Chairman

Simon O'Loughlin Director

Richard Hillis Director

Terry Kallis Managing Director

Board Skills and capabilities to achieve our objectives

• › Financial Management
• › Legal
• › Marketing
• › Project Management
• › Corporate Governance
• › Exploration and Development
• › Geology and Geophysics
• › Resources and Energy
• › Government and Stakeholder relations

Richard Bonython Director

Lewis Owens Director

The Paralana Geothermal Energy Project story to date - video

Paralana project progress to date and unique HEWI model

• › Drilled a deep exploration well to 1.8 kilometres and confirmed economic temperature and gradient – 109˚C and 45˚/km
• › Drilled 4 km deep injector well successfully completed and cased and confirmed economic temperatures – 190˚C (4kms) and 176˚C (3.7kms)
• › Main Fracture injection test- exceeded 500 m propagation target, 3.1 million litres injected and over 7,000 micro-seismic events detected
• › Flow Test completed successfully 1.3 million litres flowed to surface and temperatures reconfirmed
• › Project has followed clear plans and milestones with spend tightly managed by JV to ensure value for Partners, Government and PTR shareholders
• › Next step is to drill Paralana 3 deep 3.8 kms producer well, fracture stimulate, circulate and to demonstrate flows

HEWI Model at Paralana

The required heat exchanger is created within the insulating layers above the granite heat source.

Aims to reduce risk, cost and time.

Paralana Independent Resources Statement – Nov 2011

Depth Interval(metres)	Inferred (PJ)th	Indicated (PJ)th	Measured (PJ)th	Total (PJ)th
<3,500	2,400	1,100		3,500
3,500 -4,000	4,900	4,400	41	9,300
4,000 -4,500	5,900	5,700		12,000
4,500 -5,000	6,900	6,700		14,000
Total (PJ)th	20,000	18,000	41	38,000

Paralana Joint Venture: Petratherm 79%, Beach Energy 21%.

Initial stimulated rock volume = 5.4 MW electrical power potential for 30 years

Paralana Resource at the 3500–4000 metre depth interval is estimated a 9,300 PJth which is sufficient to generate 1,300 MW of electrical power for 30 years

"Clean Energy Precinct aims to monetize the large Paralana geothermal resource"

The information on this slide that relates to Geothermal Resources is an extract from a report compiled by Dr Graeme Beardsmore, who appears on the Register of Practicing Geothermal Professionals maintained by the Australian Geothermal Energy Group Incorporated at the timeof the publication of this Slide. Dr Beardsmore is employed by Hot Dry Rocks Pty Ltd, an independent consulting group that provides professional services to Petratherm Ltd. Dr Beardsmore has sufficient experience which is relevant to the style and type of geothermal play under consideration and to the activity which he/she is undertaking to qualify as a Competent Person as defined in the Second Edition (2010) of the 'Australian Code for Reporting Exploration Results, Geothermal Resources and Geothermal Reserves'. Dr Beardsmore has consented in writing to the inclusion on the slide of the matters based on his information in the form and context in which they appear.

What/where is Petratherm's Clean Energy Precinct ?

• › Project is separate to, but complementary of and inextricably linked to, the Paralana Geothermal Energy JV project and new Moolawatana GELs
• › Project is situated just north of the Paralana geothermal project with access to 2000 square kms of land
• › Project aims to combine gas, wind, solar and geothermal resources
• › Aim to supply a competitive source of base-load and renewable/low emission power to the growing market in the northwest SA

What/where is Petratherm's Clean Energy Precinct ?

• › Moomba to Adelaide gas pipeline traverses land in an ideal location that has abundant solar resource and wind resources
• › Staged development of power project – initially gas and most likely wind – to provide first stage 300 MW connection to a point near Olympic Dam
• › Second stage 300 MW connection comprised of gas, wind and solar and introducing large scale geothermal energy

What/where is Petratherm's Clean Energy Precinct ?

• › Project is in response to large demand growth expected from very large mining developments 270 kms east of the Clean Energy Precinct
• › Mines include Olympic Dam, Prominent Hill, Carapateena with a combined new potential demand in excess of 700 MW providing alternative options for power supply
• › Clean energy to be delivered by two, 300 MW HVDC underground cable connections to minimize environmental, indigenous heritage impacts and ensure speed to market

What are the key/unique features of the Precinct ?

• › Project is located in the area closest to the power demand where there is a "convergence" of;
  • › available Gas resources - pipeline
  • › abundant Solar resources
  • › abundant Wind resources
  • › large Geothermal resources
• › Avoids the need for a 400 km gas pipeline that may have little demand growth beyond Olympic Dam – eastern and southern state market growth
• › Utilizes state of the art HVDC underground cable technology adding stability to the power system – acts like a firewall ensuring power quality and system security with low losses compared to AC (although AC and DC overhead can remain an option if desired)

Preliminary resource assessment summary for Precinct

• › BOM data suggests solar resource 20 MJ/m²/day or (5kWh/m²/day). GH confirms it as an excellent solar resource
• › Expect competitive gas supply contract availability from Moomba producers
• › Expect sufficient gas pipeline capacity from MAP
• › Wind regime expected to confirm good quality wind resource

(1- Subject to further detailed resource assessment by GH ) (2 - Subject to negotiations with gas suppliers and EPIC Energy)

Resources – gas, wind, solar and geothermal expected to be available in large quantities of 150 MW+ each – actual mix of generation is yet to be determined

Work to date, indicative costs and timing

• › In discussions with several parties;

  • › International Infrastructure and Renewable Energy companies
  • › Domestic Resources and Energy companies
  • › International EPC and Product Supplier companies
  • › ElectraNet grid connection/access
  • › EPIC pipeline connection/access

• › Commenced discussions with potential mining customers – "tailor to needs"

• › Indigenous Land Use Agreements underway

• › Resource assessments underway

• Costing of generation mix and transmission connection underway

• Commenced discussions with Federal and State governments

• Capital cost estimate* $1,500 m

• Development costs (full feasibility) $7 m

• Commercial close end of 2013/early 2014

• Supply of power commencing mid /late 2016

• Supply increasing 100 MW /year for 6-7 years

(* subject to generation plant mix)

www.petratherm.com.au

Main Fracture Stimulation greatly exceeded Target

• Over 7000 micro-seismic events triggered
• Fractured reservoir target exceeded, with microseismic events located 900m away from the well
• Connection to deep fractures/faults below the injection point

New Moolawatana GELs -

Moolawatana GELs located north of Parlana and the Beverley Uranium Mine

GELs cover 2600 sqkms of land and most of the 1890 sqkms of the Moolawatana Pastoral Lease

GELs covers around 90 kms of the route length of the Moomba to Adelaide Pipeline

HVDC transmission connection – already connects SA & Vic – Murraylink 220 MW, 180 kms underground cable

Moolawatana Pastoral Lease – Homestead to Beverley

Preliminary Wind Assessment at 100 m hub height

Preliminary wind assessment Garrad Hassan (GH) – world's leading wind consultants – (refer adjacent Mesoscale Model Map – with X signifying the Moolawatana Homestead)

Wind speeds in northwest part of lease is assessed as being around 7 to 8 metres/sec at 100 metre height

Expected to be well suited to a Class 2 turbine, large blade and 100 metre hub height

150 MW and 300 MW wind farm sizes being assessed by GH based on 3.2 MW REpower turbine 57 m blade

Mesoscale Model Map of Pastoral Lease boundary showing prospective wind regime in north western area on low lying hills beyond the Flinders ranges

Potential wind farm location areas – north of Homestead

Energy technologies - Australian Resource Assessment

Impact of Carbon pricing – Australian emissions (source SKM/MMA)

Impact of Carbon pricing – Australian power generation mix (source SKM/MMA)

Impact of Carbon pricing – Australian wholesale electricity price (source SKM/MMA)

Impact of Carbon pricing – State wholesale electricity prices (source SKM/MMA)

Impact of Carbon pricing – South Australian power generation mix (source SKM/MMA)

Geothermal energy overview

Key Project Parameters

• › Temperature
• › Drilling depth
• › Flow rate
• › Network connection
• › Generation plant type
• › Market/Customer
• › Optimization of parameters to achieve commercial return against competitive alternatives in target market (heat or power)

Operating Project Examples

Each project has specific project parameters that when optimized enable viable operation