VOLTAIC STRATEGIC RESOURCES LTD — Capital/Financing Update 2017

Dec 4, 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

5 December 2017

BORIE OILFIELD PRODUCTION INCREASE STRATEGY

Incremental Oil and Gas Limited (ASX: IOG) (“IOG” or the “Company”) is pleased to announce that it has closed the acquisition of the Borie Oilfield, DJ Basin, Wyoming.

Work on the enhancement of production and improvement in efficiency at the Borie Oilfeld has commenced on numerous fronts as listed below.

• Field optimisation work to commence immediately – Management has been to site and work will commence on production enhancement in December with the permitting of a workover rig. IOG is aggressively reviewing all opportunities to enhance production from the optimisation of the existing infrastructure. Management will assess a number of shut-in wells to determine if they can be brought back to production;

• New wells to be spudded in 2018 – IOG has already identified three new well locations in the Borie Oilfield and work is continuing to identify other new well and/or recompletion opportunities. The Company has a significant inventory of casing, pumps and storage tanks at the Silvertip Field that can be used in the drilling program that will assist in reducing capex;

• 2D Seismic is being acquired at low cost - to assist in identifying well locations and other potential development opportunities in the Oilfield;

• EOR potential – Analysis is being carried out to determine the potential of initiating an Enhanced Oil Recovery (EOR) water flood system in the northern section of the Borie Oilfield which would increase production and reserves. Application will be made to inject water produced from the current oil production process into existing shut-in wells to re-energise the reservoir and increase oil recovery;

• EOR efficiency improvements - a waterflood system that already exists in the main Borie Oilfield may be improved through utilising modern designs and systems which could result in an increase to oil production and analysis of this opportunity has commenced;

• Field operating cost reductions – two of the major expenditure items in the oilfield are electricity and propane costs. Initiatives are being considered to decrease the cost of power through the installation of a solar energy system to supplement the electricity demand that is taken from the local grid. Analysis will also be carried out to determine whether current propane usage can be supplemented or replaced from potential in-field gas reserves.

IOG has been able to seamlessly transition as the new field operator because it already had the necessary permits in place from its ownership and operatorship of the Silvertip Field, also located in Wyoming.

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Having an operation in the prolific DJ Basin provides IOG with a foothold into a premium location with respect to geology and it will enhance the Company’s potential to gain access to other opportunities in the region. Below is a map showing the proximity of the Borie Oilfield to the existing Silvertip Field and the Denver Head Office.

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Location map of the Borie Field (DJ Basin) in comparison with the Silvertip Field (Bighorn Basin) and the Company’s head office in Denver.

ENDS

For further information, contact:

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

John Whisler Managing Director Email: jwhisler@i-og.net

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About the Company:

Incremental Oil and Gas Ltd (ASX: IOG) is an energy company that owns and operates multiple onshore oil and gas exploration and production projects in the USA (WY and CA) and is looking at opportunities in the energy sector. The Company is seeking to change its name tio Eon NRG Ltd.

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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