VOLTAIC STRATEGIC RESOURCES LTD — Capital/Financing Update 2017

Dec 17, 2017

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ABN 66 138 145 114

20 Howard Street Perth WA 6000

PO Box Z5207 St George’s Terrace Perth WA 6831

www.incrementaloilandgas.com ASX Code: IOG

Tel: 08 6144 0590 Fax: 08 6144 0593

ASX Announcement/Media Release

18 December 2017

SILVERTIP RECOMPLETION UPDATE

Incremental Oil and Gas Limited (ASX: IOG) (“IOG” or the “Company”) is pleased to announce that it has completed two shallow gas well recompletions at its Silvertip Field, Wyoming.

Results from the first well (81-33MV) is encouraging with an IP rate of 200 Mcf per day and average production rate for the first seven days after the recompletion was just above 200 Mcf per day (Gross), higher than the expected initial production estimate of 150 Mcf per day. The flowing well pressure has stabilized at 350 psi at the 200 Mcf daily rate. Capex for these recompletions was less than $11,000 per well. Based on an average gas price of $2.95 per Mcf, this initial production rate represents a monthly net revenue to IOG of $14,000 per month and return on investment less than 30 days.

Results from the second recompletion of well 37-33 were not as successful. The 37-33 was a non-productive idle well that had good gas shows on the mud log when drilled but had a poor cement bond across the formation of interest. It is likely that the gas had escaped over time into shallower thief zones.

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Recompletion Rig (81-33MV) at Silvertip Field

CRP02 62 Silvertip Recompletion Update Dec1817

Recent regulatory approvals have opened up additional recompletion opportunities that had previously been identified. The company is planning a further 3 recompletions for 1Q 2018. These will target the Meeteetse Formation that have yielded better recompletion results from a previous round of activity in 2016 where 30 day average IP’s were in excess of 1,000 Mcf per day.

ENDS

For further information, contact:

Simon Adams John Whisler CFO/Company Secretary Managing Director +61 (0)8 6144 0590 Email: jwhisler@i-og.net Email: sadams@i-og.net

Forward Looking Statements

This document may contain certain statements that may be deemed forward-looking statements. Forward-looking statements reflect the Incremental’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 from those set forth to various factors, 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; and availability of capital at favourable terms.

Given these uncertainties, no one should place undue reliance on these forward-looking statements attributable to Incremental, or any of its affiliates or persons acting on its behalf. Although every effort has been made to ensure this announcement 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.

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