SENSEN NETWORKS LIMITED — AGM Information 2012

Sep 13, 2012

14 September 2012

ORPHEUS ENERGY ANNUAL GENERAL MEETING

CHAIRMAN’S ADDRESS

I am delighted to present the Company’s second annual report for the year ended 30 June 2012.

Orpheus has developed a business plan, with short, medium and long term goals and strategies, to achieve our vision of becoming a high quality, high growth and highly profitable coal exploration, development and production company, focused on Asia.

Our plan is to develop and grow our own mine production and coal trading divisions, to progressively grow both profit centres, to adapt to changing market conditions and minimize cash utilization, especially under the present volatile international coal prices and working capital constraints.

Our initial focus is Indonesia, and in cooperation with our JV partner, Mega Coal International, our areas of development and exploration are in South Kalimantan, East Kalimantan, and Papua.

Already, we have our coal trading licence approved with both trading and our own mine production sales under way.

South Kalimantan ; we currently have one operating mine in South Kalimantan (ADK). This mine was flooded during July, but production will re-commence late September. Planned output for October is 45,000 tonnes, subject to sales contract finalization. Our intention is to grow production in line with sales contracts, and mine profitability. Since June coal sales prices have fallen by 20%, our strategy is critical.

We acquired Citra Bara Prima (CBP) early in September after a successful completion of legal and technical due diligence. CBP holds a production licence, and exploration has just commenced. We expect to be in production by year end.

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East Kalimantan ; we recently signed a royally agreement on Block 2, providing Orpheus with a net royalty of $ 8/t. Planned production is 30,000 TPM, and mining activities are under way. It is expected we will have coal on stockpile by month’s end. Conservatively our incoming cash flow will commence during November.

We are planning to be producing and selling at the rate of 2 million tonnes per annum (mtpa) within a realistic but short time frame, achievable from two mines in South Kalimantan, and one mine in East Kalimantan.

Moving forward, our target is to triple that rate over the next several years, as we further grow our production capabilities, through a strategic mine acquisition and infrastructure development program.

Despite the present market situation, the medium and long term coal demand profile remains positive, due to the continuing strong economic growth in Asia. Our two potential largest markets, China and India have an expected GDP % growth rate in 2012 of 8.2% and 7% respectively.

Indonesian assets

In line with our plans, we can report production and sales have been achieved within our first year of listing, with 36,000 tonnes were sold until 30 June, and in July and August we shipped a further 24,000 tonnes, from both coal production and trading.

Orpheus management continues to systematically assess additional projects against the Company’s essential criteria of:

• Near-term production capability;

• Good proximity to infrastructure and loading facilities;

• Satisfactory technical and legal verification;

• Highly marketable coal; and

• Low capital and operating costs.

Export markets/Indonesian coal overview

Indonesia is the second largest coal exporter after Australia. Last year, Indonesia supplied 30% of total world coal exports of 910 million tonnes i.e. 312 million tonnes (Source: Indonesian Trade Ministry, January 2012). It is projected that Indonesian coal production in

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2012 will reach 380 million tonnes, topping the Government target of 332 MT, with 25% allocated to Domestic Market Obligation (DMO). (Source: Indonesian Coal Mining Outlook presentation by Chairman of Indonesian Coal Mining Association, Bob Kamandanu, April 2011) Asia continues to be the largest coal importer; particularly India and China where coal fired power plants play a critical role in industrial development. As an example, in India almost half of the power plants are coal fired and seaborne demand from China will grow from 175 million tonnes per annum in 2011 to one billion tonnes per annum by 2030.

India is also set to overtake Japan as the second-largest consumer of the coal used in power stations by 2030, growing from about 80 million tonnes per annum in 2011 to 400 million tonnes per annum (Source: Wood McKenzie, March 2012).

Another market of importance is Thailand, which continues to buy increasing quantities of coal – in 2011, 12 million tonnes from Indonesia alone – highlighting the growth of other Asian markets, and selling opportunities.

The current world coal price downturn just reconfirms how volatile the coal sector is. We endeavour to assess the market, both short and long term, to ensure our decisions are carefully balanced and allow for the current and likely continuing volatility in our market.

The present world market situation further proves the importance of correct positioning with a balanced business model. As a new company with financial constraints in a difficult financial climate, we believe our strategy of focusing on low cost operations and generating quick cash flows will stand the Company in good stead. By this I mean we will progressively develop small satellite production mines for quick cash flow, and at the same time build our coal resource bank by careful selection and evaluation to ensure we have large coal reserves to achieve our medium and long term goals.

Indonesia has low production costs by world standards, so even in difficult economic times we should always be able to maintain some level of profitability. Our partnership with Mega Coal and our agreed formula for operation will help ensure our success.

Australian assets

As our focus is Indonesia, the board have not committed any significant funding to these assets. We will continue to review opportunities to either JV or sell outright, in order to maximise benefits for shareholders.

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Conclusion

Finally, I want to thank my board and colleagues, together with our Indonesian partners for their diligent contributions to the company’s development over the last twelve months.

Wayne Mitchell

Executive Chairman

For further information, please contact:

David Smith Email: info@orpheusenergy.com.au Phone +61 2 9922 3930 www.orpheusenergy.com.au

Released through:

Sam Sloane Six Degrees Investor Relations +61 2 9230 0661 or +61 412 845 920

Cautionary Note:

This release may contain forward-looking statements that are based upon management’s expectations and beliefs in regards to future events. These statements are subjected to risk and uncertainties that might be out of control of Orpheus Energy Limited and may cause actual results to differ from the release. Orpheus Energy Limited takes no responsibility to make changes to these statements to reflect change of events or circumstances after the release.

Competent Person’s Statement:

The statements above apply in respect of the information in this announcement that relates to exploration targets and mineral resources. The information is based on, and accurately reflects information compiled by Wes Harder, who is a Member of the Australasian Institute of Mining and Metallurgy. Wes Harder is a Director of Orpheus Energy Limited and is a Geologist who has sufficient experience which is relevant to the style of coal mineralisation and type of deposit under discussion and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Wes Harder consents to the inclusion in the report of the material, based on his information, in the form and context in which it appears.

*** JORC- Exploration Target**

It is common practice for a company to comment and discuss its exploration in terms of target and size type. The information in this announcement relating to exploration targets should not be misunderstood or misconstrued as an estimate of mineral resources or ore reserves. The potential quantity and grade is conceptual nature, there has been insufficient work completed to define a mineral resource and it is uncertain if further exploration will result in the determination of a mineral resource.

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