SKY METALS LIMITED — AGM Information 2014

May 21, 2014

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22 May 2014

The Manager Companies ASX Limited 20 Bridge Street SYDNEY NSW 2000

(15 pages by email)

Dear Madam

PRESENTATION TO THE ANNUAL GENERAL MEETING

Attach is a PowerPoint presentation which is to be delivered to the shareholders present at today’s Annual General Meeting which is convened to be held at 11.00 am.

For further information, please contact Norman Seckold, Anthony McClure or Peter Nightingale on (61-2) 9300 3322.

Yours sincerely

Marcelo Mora Company Secretary pjn7737

Planet Gas Limited[ABN][ 46 098 952 035] Level 2, 66 Hunter Street Sydney NSW 2000 Australia T +61 2 9300 3322 F +61 2 9221 6333

W www.planetgas.com

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Limited

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Annual General Meeting
22 May 2014
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Disclaimer

This presentation may contain forward looking statements which involve subjective judgment and analysis and are subject to significant uncertainties, risks and contingencies including those risk factors associated with the oil and gas industry, many of which are outside the control of and may be unknown to Planet Gas Limited (ACN 098 952 035).

No representation, warranty or assurance, express or implied, is given or made in relation to any forward looking statement. In particular, no representation, warranty or assumption, express or implied, is given in relation to any underlying assumption or that any forward looking statement will be achieved. Actual and future events may vary materially from the forward looking statements and the assumptions on which the forward looking statements were based.

Given these uncertainties, readers are cautioned not to place undue reliance on such forward looking statements, and should rely on their own independent enquiries, investigations and advice regarding information contained in this presentation. Any reliance by a reader on the information contained in this presentation is wholly at the readers own risk.

Planet Gas Limited and its related bodies corporate and affiliates and their respective directors, partners, employees, agents and advisors disclaim any liability for any direct, indirect or consequential loss or damages suffered by a person or persons as a result of relying on any statement in, or omission from, this presentation. Subject to any continuing obligations under applicable law or any relevant listing rules of the Australian Securities Exchange, Planet Gas Limited disclaims any obligation or undertaking to disseminate any updates or revisions to any forward looking statements in this presentation to reflect any change in expectations in relation to any forward looking statements or any such change in events, conditions or circumstances on which any such statements were based.

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Company Snapshot

• Cooper Basin play

• PEL 514 ‐ 1,972 km[2]

• Oil exploration JV with Senex

• Planet Gas free carried for next programs

• New transaction for entry of Origin Energy for gas exploration

• Up to $80 million expenditure for Stages 1 and 2

Current Price: 1.5 cents ASX code: PGS Issued shares: 537.6m Market capitalisation: $8.0m Cash: $4.1m (end March) 3.5 3.0 2.5 2.0 1.5 1.0 0.5 0.0

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2013 onwards

	March 2013	Cooper Basin “Cordillo” 3D seismic program processing
	May 2013	Withdrawal from NSW Coal Seam Gas
	May 2013	Substantial transaction sees expansion of PEL 514 activities
	June 2013	Cooper Basin “Dundinna” 3D seismic program commenced
	October 2013	Commencement of 2 well drilling exploration program
	November 2013	Drilling completed for 2 well exploration program
	February 2014	Landmark gas farm‐out with Origin Energy

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2014 Program

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• Cordillo 3D and Dundinna 3D seismic processing &
interpretation
Now
• Drill planning /commencement
• Origin JV possible commencement
Sept qtr
• 2 wells ‐ to be completed by November
Dec qtr
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PEL 514

• 1,972 km[2] of the Cooper Basin, South Australia

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• Within Patchawarra Trough

  • Western Flank Oil Fairway and Unconventional Gas Fairway

• Conventional Oil

• New and historical oil prospects

• Birkhead Jurassic oil

• Planet Gas 20% free carried by Senex

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Tight Gas Sands

• Permian system, Patchawarra Trough

• Farm‐out to Origin Energy

• Also targets in deep coals and shale gas across the PEL

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Senex Joint Venture ‐ Oil

PEL 514 20% PGS : 80% Senex

INITIAL FARM‐IN ‐ COMMENCED MAY 2012

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• 169km[2] 3D Cordillo seismic program

• Two wells completed November 2013

SECOND AGREEMENT ‐ MAY 2013

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• $5 million cash to Planet Gas

• Free‐carried for Planet’s 20% share

• Principal target is oil in Jurassic Birkhead channel sands

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• Planet Gas also to receive;

• a 2% well head royalty on oil capped at $7.5 million

• $10 million in 2P reserve bonus ($5 million @ 8 Mmbbls oil, $5 million @ an additional 4 Mmbbls oil)

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Senex Joint Venture ‐ Oil

PEL 514 Expenditures to date (to end April 2014)

First Farm‐in (complete) $11.0m Second Farm‐in $4.9m

• Planet Gas interest free carried

2014 PROGRAM

• Oil exploration focused

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• Cordillo and Dundinna 3D seismic surveys ~323km[2 ] processing and interpretation through to mid year

• Both programs for next generation drill targets (2014 +)

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• 2 wells by November 2014

• Second farm‐in expenditure program 11% complete (as at end April 2014)

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Origin Joint Venture ‐ Gas

PEL 514 20% PGS : 40% Senex : 40% Origin*

• Landmark gas farm‐out agreement between Origin Energy and Senex announced February 2014

• Targeting tight gas sands with exposure to gas in shales and coal in the Permian (“Deeps”)

• *Origin earning up to 40% from Senex

• Work program expenditure of up to $80 million spread equally across Stages 1 and 2

• Possible additional expenditure of up to $67 million by the joint venture

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Origin Joint Venture ‐ Gas

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• PEL split in two with Origin JV solely in “Deeps”

• Work programs to include 250 km[2] of 3D seismic and the drilling of up to seven gas exploration and appraisal wells

• Oil JV with Senex remains in place for “Shallows” and “Remainder” area

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Origin Joint Venture ‐ Gas

	Transaction Details PEL 514
	Petroleum Licence Area (PEL)	1,917 km2
	Farm-out area to Origin	904 km2 (47% of total area) Deeps only
	Stage 1 Work Program Participating interest earned by Origin Planet Gas participating interest	$40 million 30% 20%
	Stage 2 Work Program Participating interest earned by Origin Planet Gas participating interest	$40 million 10% 20%
	Additional Work Programs (Stage 1 and 2 - equity basis)	$67 million (subject to operating committee approval)
	Total Work Program	$147 million

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Looking Forward

• “Cordillo” 3D seismic program interpretation almost complete results pending

• “Dundinna” 3D seismic program data acquisition complete results mid year

• Both seismic programs for next generation 2014 + drilling programs

• Origin/Senex planning for tights sands gas exploration program including 3D seismic and the drilling of up to seven gas exploration and appraisal wells

• Active new project generation program continues (oil and gas)

• Target projects include low risk acquisitions for farm‐out

• Also potential low cost entry to cashflow/royalty streams

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NSW CSG Withdrawal

• Withdrawal from NSW coal seam gas May 2013

• Lack of certainty for industry for 2 years

• New proposed regulations by the state Government has led to the industry’s lack of confidence to move forward

• Limited regulatory clarity effectively restricted work since 2011

• Full write down of investment was done in 2012

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Planet Gas Limited

66, Hunter Street, Sydney NSW 2000 Australia

www.planetgas.com

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Contact

Anthony McClure

T: +61 2 9300 3322 F: +61 2 9221 6333 info@planetgas.com

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