1 1

CLONTARF ENERGY

An emerging E&P company focused

on Africa and South America

July 2012

2 2

PERU: World Class Exploration Portfolio

• Clontarf holds two exploration blocks:

183 and 188.

• Peru is a highly attractive, growing oil

& gas province.

• Farm out discussions underway.

• The Government takes proportionally

to the field profitability: Total effective

state take is 50%.

• Reasonable work programme.

3 3

BLOCK 188 - Ucayali

• 595,809 hectares of prospective ground, beside the giant Camisea

(16 tcf & 880mmbo) producing field.

• Extensive regional data available (13,400km of 2d seismic and 50

wells).

• Good seismic coverage and three wells drilled close to Block 188.

• Main petroleum system is Paleozoic, but;

- Four source rocks & three seals proven.

- Three main producing reservoirs in the area.

- Undeveloped oil discovery at neighbouring La Colpa.

• Oil discovered on the block in 1998. Phillips Petroleum drilled a well

at Panguana in the south-east of Block 188.

4 4

BLOCK 188 - Access

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BLOCK 188 - Undeveloped Discovery

• The identified Panguana structure presents a stand-alone prospect

suitable for early drilling:

• Phillips Petroleum drilled the 2,750 metre Panguana x-1 well in

1998. Uneconomic at the time.

• The oil collected was of good quality (37°API) in the Green

Sandstone Formation of Cretaceous and Paleozoic age.

• Based on the formation test, a reserves calculation estimated 31

million barrels of oil.

• Needs petrophysical confirmation and longer well test to confirm

commercial oil. Risk of gas or thinner oil column.

6 6

PANGUANA 1x

Green Sandstone

level

Oil

Ga

s

9 5/8 1325m

RFT 1700m

Sidetrack Operation

Drill Out 9 5/8 1325m

Kick Down dip 500 m

Test Ambo Sands

Ambo Sands

1200m

1300

1400

1500

1600

1700

1800

1900

2000

BLOCK 188 – Panguana re-entry

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BLOCK 188 – Multiple Leads

• Three Prospects and ten important leads

• The main objective in the Block 188, are the Green Sandstone (Carboniferous) and the Paleozoic sandstones Ambo Group.

• Secondary objectives reservoirs are the sands of the Vivian, Chonta, Agua Caliente and Cushabatay formations of Cretaceous age

• Sands of Devonian possibly the Cabanillas Group, Ene, and the Tarma/Copacabana carbonates of Paleozoic age constitutes additional exploratory objectives in the deepest parts

8 8

BLOCK 188 - Minimum Work Programme

Period Months Minimun Work Program

1º 12 Evaluation G &G with existing information.Report Evaluation

2º 18 Adquisition and interpretation of 150 km 2D seismic. G &G evaluation. Leads and or prospects definitions. Evaluation Report.

3º 18 Drilling of 1 exploratory well 1400 m TD or 50 m in Paleozoic.

4º 18 Drilling of 1 exploratory well 1400 m TD or 50 m in Paleozoic.

5º 18 Drilling of 1 exploratory well 1400 m TD or 50 m in Paleozoic.

9 9

BLOCK 183 - Marañon Basin

• Block 183 is 396,826 hectares in the Marañon Basin, which has

produced oil since the 1940s.

• Two oil fields and one gas field neighbour Block 183.

• Good quality, recently re-processed seismic data is available.

• Two main source rocks: Triassic-Jurassic & Cretaceous.

• C. 1,700km of 2d seismic data – which has been re-processed.

• Five leads & prospects already identified, including 4-way closures in

the Yurimaguas Anticline.

10 10

BLOCK 183 - Prospects and Leads

Lead Nº 1

A major reprocessed seismic Line 19. It shows anomalies demonstrating

significant gas occurrence, which enhances the hydrocarbon potential in

Block 183, bounded most likely with lead four way closure located in the

line DX47/DX26.

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1°50'0"E

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Exploration sweet-spot beside Tullow finds:

Offshore/Onshore Tano Block 2A

• over 2 billion plus barrels discovered since 2005 in Tano Basin.

•The concession, Tano 2A, is in the name of ‘Pan Andean Resources Limited’.

Ownership: 30% Petrel Resources

60% Clontarf Energy

10% Ghanaian interests

Target-rich block: –1,532km2 area

– extensive raw data available

– 676km of 2d seismic now

reviewed

–Tano Basin, close to recent

Tullow discoveries

–Multiple leads & prospects

identified

Work Commitment: $25 million over 3 years

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Recent Discoveries And Prospects,

Offshore Tano Basin

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Total discovered to

date over 2 billion

barrels.

Production began

from Jubilee in 2010.

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Tano Basin Plays: Deep Offshore kitchen +

Migration Up-dip:

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Work Completed

Purchase of available well reports & seismic data

Analysis of extensive geological data: summary report

Interpretation of all available seismic data on the licence:

geophysical report

Analysis of structural & stratigraphic trap leads idenfied

on the seismic: report

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Several New Prospects In Onshore

Lower Cretaceous

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GHANA TANO 2A SUMMARY

Licence area: 1,532 sq. km onshore & offshore

Evidence indicates deeper offshore oil kitchen has fed oil

across the shelf area to onshore

More than 3,250m of Cretaceous-Cenozoic sediments

proved at the coastline

Of the 28 onshore wells only one shallow well drilled with

seismic control. No wells in the offshore part of the

licence

Structural traps and stratigraphic pinch-outs seen on

seismic data

Acreage has untested potential for discoveries

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Focused Strategy

• Peru: Three pronged strategy

Examine opportunities to joint venture the Panguana prospect on

Block 188

Farm out both blocks

Possibly sell our interest in Block 183

• Ghana: Awaiting ratification which is expected in 2nd half 2012. All

requirements completed. Ready to move on seismic acquisition.

There are interested third parties.

• Bolivia: Finalising agreements on El Dorado and Monteagudo.

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CONTACT DETAILS

Clontarf Energy Plc

162 Clontarf Road

Dublin 3

Ireland

Phone: +353 1 833 2833

Fax: +353 1 833 3505

Email: info@clontarfenergy.com

www.clontarfenergy.com