VOLTAIC STRATEGIC RESOURCES LTD - AGM Information 2019

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AGM 2019 23[rd] May

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Eon NRG Growth Objectives For 2018

Implement an aggressive & deliverable growth plan.

“ establish a more aggressive approach to value accretion through more drilling as well as developing a broader range of opportunities in the energy sector ” (Nov-17)

At the end of 2017, the company owned and operated oil and gas fields in Wyoming and California producing 550 BOEPD (Gross)
The strategy transition for 2018 was to identify investment opportunities that:
Diversify its asset mix to incorporate a cross section of energy assets;
Continue to exploit existing oil fields and enhance production;
Provide an opportunity to drill high impact oil wells…
- At a low entry cost…
- With low risk…
- Capable of delivering strong economics.
Utilize the experience of management to create a pathway to shareholder value through accumulation of strategic acreage position that can be value added through drilling new wells.

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Field operating and financial results 2018-19

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Oil production rates increased in Apr-19 from returning wells to production – Silvertip and Borie Fields
Gas production decreased in Q1-19 due to winter weather influences and restricting flow rates due to low gas prices
Oil prices and volume sold decreased in Q1-19 resulting in lower sales value
Gross margin increased to 57% in Apr-19

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Achievements in 2018

Feb 2018: Announced change of company name to Eon NRG Ltd (ASX ticker changed to E2E).
Mar-Apr 2018: Announced diversification of asset portfolio in staking of lode claims in Nevada (adjacent to historic Lovelock Cobalt Mine leases).
Apr 2018: Successful gas well recompletion results – Silvertip Field (650 Mcf/d 30-day IP, produced 50,000 Mcf of gas in the first 100 days after recompletion with a 10x ROI.

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Recompletion of the 35-28 Gas well at Silvertip Field
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Achievements in 2018 (Cont.)

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July 2018: acquired 640 acres from State of Wyoming in Powder River Basin (PRB).
Repaid $300k off ANB loan which repaid term note in Aug 2018.
Sep 2018: 15,000 acres of leases acquired in PRB , 100% working interest (WI), 87.5% net revenue interest (NRI), 10 year lease terms with no drilling commitments, multi stacked reservoirs and outstanding offset production history.

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2018
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2017
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Eon NRG Ltd leases purchased in PRB
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What are the opportunities ahead?

The first well to be drilled in the Company’s PRB acreage, Govt Kaehne #9-29 (announced Mar-19).
Successful capital raise completed to provide working capital for PRB drilling.
Application for a drilling permit of Govt Kaehne #9-29 well will be filed by Jun-19.
Drilling of the Govt Kaehne #9-29 well is expected to commence in Q3-19.
Purchased 6 miles of high frequency seismic over multiple PRB well prospects. Reprocessing of seismic data and integration of geo physics interpretation in process.
New drilling prospects are expected to be announced in coming months.

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Why do we have confidence in the Govt Kaehne #9-29 well?

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Offset wells have good initial production rates (IP’s) and estimated ultimate recovery (EUR)
Strong water drive which results in higher recovery and lower production decline rates
100% working interest and 87.5% net revenue interest
Well is located in a structurally high position in a reservoir that is oil rich with 30-40’ of pay expected in the Dakota Formation
Directionally drilling the well to intersect the targeted pay
Close to service town (Gillette) and good access for transportation of the oil from storage

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STRONG ECONOMICS

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Board restructure – new US based Chairman

Matt McCann - Chairman

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Directly involved in raising more than $2.5 B in capital.
Evaluated, negotiated, and closed numerous acquisitions and has closed multiple international joint ventures.
Instrumental in growing TransAtlantic Petroleum from a junior explorer to a significant international producer.
Served as Interim CEO at Magnum Hunter (2016), following the company’s emergence from bankruptcy. There he identified and progressed key corporate initiatives and coordinated on-boarding CEO.

John Whisler – MD/CEO

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30 years of diverse and extensive experience in the US oil and gas sector, covering all aspects of operations from drilling and completions to production enhancement and secondary recovery in multiple basins.
An in-depth knowledge of financial and economic analysis, business development, acquisition and divestures.
More than 18 years of experience in leading both public and private exploration and production companies.
Served as COO/CEO of Delek Energy US.

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Australian based Director and CFO

Gerry McGann –Technical Director

Simon Adams – CFO/Company Secretary

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Over 40 years’ experience in the upstream oil and gas industry, in a career that has spanned all five continents.

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As a petroleum geologist, he has been instrumental in the discovery of oilfields totaling more than 200 million barrels in Australia, Middle East and the North Sea, and been part of teams that have discovered other substantial oil resources.
Over 25 years of experience in financial management and corporate regulation and compliance across a range of public listed (ASX and NASDAQ) and private companies.

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Experience across a range of industries including upstream oil and gas, mining and aquaculture.

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Why invest in E2E?

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Experienced, low cost oil and gas producer with operating control and high revenue interest. Potential to add significant production from upcoming drilling program.

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Near term drilling opportunity with strong economics. Control over significant undeveloped acreage open for exploration in prolific onshore US oil basin (Powder River Basin, Wyoming).

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Positive cash flow from current production supports exploration and overhead expenditure.

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Disclaimer

This presentation has been prepared by Eon NRG Ltd (“Eon”).

This presentation does not constitute investment advice. Neither this presentation nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sale of shares in Eon NRG Ltd – ABN 66 138 145 114 (“Eon” or the “Company”) - in any jurisdiction. This presentation does not take into account any person’s particular investment objectives, financial resources or other relevant circumstances and the opinions and recommendations in this presentation are not intended to represent recommendations of particular investments to particular persons. All securities transactions involve risks, which include (among others) the risk of adverse or unanticipated market, financial or political developments.

The information set out in this presentation does not purport to be all inclusive or to contain all the information which its recipients may require in order to make an informed assessment of the Company. You should conduct your own investigations and perform your own analysis in order to satisfy yourself as to the accuracy and completeness of the information, statements and opinions contained in this presentation.

To the fullest extent permitted by law, the Company does not make any representation or warranty, express or implied, as to the accuracy or completeness of any information, statements, opinions, estimates, forecasts or other representations contained in this presentation. No responsibility for any errors or omissions from this presentation arising out of the negligence or otherwise is accepted.

This presentation may contain certain statements that may be deemed forward-looking statements. Forward-looking statements reflect Eon’s views and assumptions with respect to future events as of the date of this presentation and are subject to a variety of unpredictable risks, uncertainties, and other unknowns that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. Actual and future results and trends could differ materially form those set forth to various degrees, many which are beyond our ability to control or predict. Some of the risk and other factors that could cause results to differ materially include but are not limited to: industry conditions, including fluctuations in commodity prices; governmental regulation of the oil and gas industry, including environmental regulation; economic conditions in the US and globally; geological, technical and drilling results; predicted production and reserves estimates; operational delays or unanticipated operating event; physical, environmental and political risks; liabilities inherent in oil and gas exploration, development and production operations; fiscal and regulatory developments; stock market volatility; industry competition; availability of capital at favourable terms.

Given these uncertainties, no one should place undue reliance on these forward-looking statements attributable to Eon, or any of its affiliates or persons acting on its behalf. Although every effort has been made to ensure this presentations sets forth a fair and accurate view, we do not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

All references to dollars, cents or $ in this presentation are to American currency (US$), unless otherwise stated.

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AI assistant

VOLTAIC STRATEGIC RESOURCES LTD AGM Information 2019

66024_rns_2019-05-22_03c3fad4-a07e-41e7-9df5-cee864e7a797.pdf

Eon NRG Growth Objectives For 2018

Field operating and financial results 2018-19

Achievements in 2018

Achievements in 2018 (Cont.)

What are the opportunities ahead?

Why do we have confidence in the Govt Kaehne #9-29 well?

STRONG ECONOMICS

Board restructure – new US based Chairman

Australian based Director and CFO

Why invest in E2E?

Disclaimer

AI assistant

VOLTAIC STRATEGIC RESOURCES LTD — AGM Information 2019

66024_rns_2019-05-22_03c3fad4-a07e-41e7-9df5-cee864e7a797.pdf

Eon NRG Growth Objectives For 2018

Field operating and financial results 2018-19

Achievements in 2018

Achievements in 2018 (Cont.)

What are the opportunities ahead?

Why do we have confidence in the Govt Kaehne #9-29 well?

STRONG ECONOMICS

Board restructure – new US based Chairman

Australian based Director and CFO

Why invest in E2E?

Disclaimer

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VOLTAIC STRATEGIC RESOURCES LTD AGM Information 2019