ADX ENERGY

ACIVITY SNAPSHOT

APRIL 2012

Paul Fink, Technical Director

DISCLAIMER

This presentation contains forward looking statements that are subject to risk factors

associated with the oil and gas industry. It is believed that the expectations reflected

in these statements are reasonable, but they may be effected by a variety of

variables which could cause actual results or trends to differ materially, including but

not limited to: price fluctuations, actual demand, currency fluctuations, drilling and

production results, commercialization, development progress, operating results,

reserve estimates, loss of market, industry competition, environmental risks, physical

risks, legislative, fiscal and regulatory developments, economic and financial markets

conditions in various countries, approvals and cost estimates.

ADX ENERGY: Started in late 2007

Geographic focus

Energy exploration focused on North Africa, Mediterranean and Central Europe

Gold & Base Metals (via Riedel Resources) in Australia

Shares on Issue 411 million

Maket Capitalisation @ 10 cents 41.1$ million

Options * 31 million* exercise price between 25 to 40 cents

ASX ticker: ADX

EUROPEAN – NORTH AFRICAN ASSETSSICILY CHANNEL – OFFSHORE: ITALY & TUNISIA (5,000 sqkm)

ONSHORE TUNISIA

ONSHORE ROMANIA

Vienna

MILESTONES SINCE START IN LATE 2007

ADX executed a +$60 million exploration program with only $12 million of shareholder funds.

Acquire high quality assets in countries with excellent & stable fiscal regimes

First Geostreamer 3D seismic acquired First ever Tunisian deepwater well drilled

incident free gas discovery

Offshore 2D seismic Onshore well drilled

oil discovery

3D Seismic, 2010ADX operated, PGS boat

Offshore SicilyADX rig

Offshore SicilyADX rig

Onshore TunisiaADX rig

Onshore Romania(ADX license, Petrom facilty)

HOW DID WE DO - AND FUND IT? PART1/2

Directors

Ian Tchacos Non executive ChairmanWolfgang Zimmer Managing DirectorPaul Fink Executive DirectorAndrew Childs Non executive Director

Company SecretaryPeter Ironside

………EXPERIENCED & PROVEN MANAGEMENT TEAM

HOW DID WE DO - AND FUND IT? PART2/2

0

10

20

30

40

50

60

70

Q1 10 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Q3 11 Q4 11

Gross JV Operated Cost

ADX Value

ADX Contributed

32 MM

12 MM

58 MM

……ADX COMPETENT OPERATOR – GOOD ASSETS – GOOD JV PARTNERS (E&P companies)

ADX ENERGY – NEAR TERM ACTIVITY MAP

TUNISIA – ONSHORE CHORBANE: •TEST SIDI DHAHER OIL DISCOVERY•START APPRAISAL & DEVELOPMENT

ROMANIA- ONSHORE: FARM OUT PARTA TO FUND SEISMIC & WELLS, START 3D AND 2D SEISMIC IN Q2 – Q4 2012GROW ASSET BASE

SICILY CHANNEL – OFFSHORE:DOUGGA RESOURCE UPGRADEFARM OUT EFFORTS TO START SOON TO: FUND LAMBOUKA RE-ENTRY & DEEP POTENTIALFUND DOUGGA APPRAISALFUND EXPLORATION ACTIVITY

ENERGY ASSET

SELECTED EXAMPLESPaul Fink, Technical Director

www.adxenergy.com.au

Sidi Dhaher Test

TOP EIGHT EXPLORATION & APPRAISAL PROJECTS

Lambouka Appraisal

3D

Dougga Appraisal3D

Dougga –West

3D

CHS

Saint M

3D ..to be acquired

Mean Resources Size

Low

risk

Med

ium

ris

k

Kerkouane-1 Appraisal

Lambouka Deep3D

Gas condensate

Oil

Gas

Tunisia “Jasmine” revolution and uprising in neighboring Libya caused several weeks of delay.

Completed a safe and timely drilling operation during a time of partial power vacuum.

Developed a relationship of mutual trust with the local population.

ADX was the only company drilling in a populated area at the time. Other operators declared force majeure.

Sidi Dhaher TD’ ed at 2,011 meters in the 3rd week of September.

SIDI DHAHER DRILLING

SUCCESSFUL DRILLING OPERATION

Three Cretaceous reservoirs pre drill (Abiod, Douleb, Bireno)

Oil found in Bireno reservoir, others absent

SIDI DHAHER DRILLING

Risk Category P90 P50 Mean P10STOIIP [mmbbls] 13 37 51 111

1100

1150

1200

1250

1400 1500 1600 1700

Dep

th

Pressure (PSIA)

SIDI DHAHER-1

MDT Oil sample

Formation Water gradient

Oil gradient

Oil in place resource estimates, recovery factor to be determined post well test

SIDI DHAHER OIL RESOURCE POTENTIAL

OFFSHORE ITALY & TUNISIA

15

Dougga - West

Elissa

Kerkouane-1

Lambouka

Total ADX permit areas approx. 5,000 sqkm (1,23 MM acres)

Combined most likely contingent and prospective resources:1.15 billion barrels of oil equivalent.

VISION : THE DOUGGA HUB

Condensate-rich resource

Possibility for oil

Close to shore (40kms)

Close to onshore infrastructure

Close to high price local and European markets

Proximal tie – in opportunities covered by 3D

A LARGE GAS CONDENSATE RESOURCE CLOSE TO MARKETS

525 mmboe within a radius of 15 km (mean resources)Covered with Geostreamer 3D Proven Hydrocarbons - Low to medium risk upside

Dougga West

Satellite Exploration

DouggaAppraisal

LamboukaAppraisal & Drill Deeper

226 mmboe 173 mmboe 126 mmboe

15 km

DOUGGA GAS CONDENSATE FIELD RESOURCES

CB run Jan 2012, GRV method p90 p50 MEAN p10Total RECOVERABLE MMBOE 88 159 173 268Abiod RECOVERABLE MMBOE 71 133 142 225Total Sales Gas recoverable [bcf] 264 476 517 804Total Condensate Recoverable [mmbbls] 35 63 68 106Total LPG Recoverable [mmbbls] 12 21 23 36

PRODUCTION FORECAST (TRACS, COOL ENERGY)

50 mmscf/d sales gas (base case) 9,400 bopd condensate production 3,200 bopd LPG production project NPV (10) 1.6 Billion USD (ADX share currently 60%)

Raw Gas

106 MMscfpd

Sales Gas

50 MMscfpd

CO2

32 MMscfpd

Fuel Gas

4 MMscfpd

Condensate

114 kmol/ hr

Dougga total daily production:22,000 boepd(Austria’s OMV total production in Pakistan, Yemen, Kurdistan, Kazakhstan: 27,000 boepd) (source: OMV annual report 2010)

DEVELOPMENT PLAN & CASH FLOW

Sources: Offshore, Petrofilm, BG

Hannibal Gas Plant, Sfax, Tunisia

-450.0

-350.0

-250.0

-150.0

-50.0

50.0

150.0

250.0

350.0

0 5 10 15 20 25

MM

US$

Years

Discounted (10%) Project Cash Flow

project NPV (10): 1.6 Billion USD (ADX share currently 60%)

Revenue at today’s oil & gas prices: 8.3 Billion USD

KEY STRATEGIES

Corporate Strategy Early entry to high impact exploration opportunities in proven

oil and gas basins. Commercialisation of existing discoveries.

Operating Strategy Maintain operatorship through the exploration - appraisal

phase of the asset cycle. Use leading edge technology to reduce risk

Funding Strategy Fund drilling via farmouts, retain large interests in material

prospects with potential to deliver exceptional shareholder returns.

NEAR – MID TERM NEWS FLOW Test Results of Sidi Dhaher oil discovery: fast track

production

Farm out parts of Offshore Sicily to fund appraisal of Dougga, Lambouka

Farm out parts of Romania to fund seismic and first well

Dougga Appraisal & Well Test