Exploring New Frontiers

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The Journey

Exploring New Frontiers

Listed on the Main Market of the Malaysian Stock Exchange under Special Purpose Acquisition Company (SPAC) listing rules.

As a SPAC, Hibiscus Petroleum was subject to several operating restrictions and was required to make a substantial investment in an approved Qualifying Acquisition (QA) before being able to operate as a ‘normal’ Main Market public company.

Hibiscus Petroleum executed agreements to acquire a 35% equity stake in Lime Petroleum PLC (“Lime”) as our Qualifying Acquisition (“QA”).

At the time of signing, Lime had 3 concessions in the Middle East.

On 12 April 2012, a fourth concession, also in the Middle East, was added to the Lime portfolio without any change to the purchase consideration.

1st SPAC IPO

25 July 2011

Signed Lime Petroleum Agreements as QA24 October 2011

1st Listed E&P Company

18 April 2012

4 Additional Norwegian Concessions

4 May 2012

Launch Issue of CRPS

2/3 August 2012

3D Oil Transaction

14 August 2012

Completion of the Lime transaction as the QA signified that the company was no longer a SPAC and became the first Malaysian listed Oil and Gas E&P company.

Hibiscus, through its Lime investment, obtained exposure to 4 offshore concessions on the Norwegian Continental Shelf.

To fund further growth opportunities, Hibiscus launched a Convertible Redeemable Preference Share (CRPS) scheme to raise up to RM210Mil.

To date RM74.48 million has already been secured.

Signed agreements for the subscription of shares in 3D Oil Limited and acquisition of rights to exploration permit VIC / P57 in the Gippsland Basin of Australia

Qualifying Acquisition• High Impact Advanced

Exploration to Build Value

RISK

PRO

FILE

TIME

IPO

- S

PAC

High

Low

July 2011 Oct 2011 April 2012 Q2 / 2013

Development Assets • Proven Resources to

Build Balance Sheet Resilience and Mitigate Risk Production Assets

• Cashflow for Profitability and Sustainability

Plan for Success Strategy for Exploration Assets

Portfolio balancingwill be the next

thrust

Strategy

Exploring New Frontiers

The Lime Transaction Evolution

Exploring New Frontiers

SigningDeal Package

Lime QA Transaction

Announcement

25 October 2011

• 3 Concessions in Middle East• Oman Block 50 (74 -> 35 %)• RAK North Offshore (59 %)• Sharjah (100 %)

• Rex Technology for 15 Countries in Middle East

• Project Management Contract to Hibiscus

• Total Consideration: US$ 55 mil for 35 % • US$ 5 mil Discovery Bonus

Approvals & Conditions Precedent

Fulfillment

Securities Commission

Approval16 February

2012

Shareholders EGM

Approval21 March

2012

Completion Deal Package

• Additional Concession in Middle East• RAK Onshore (100 %)

• Letter of Intent for 4 Additional Concessions in Norway

• PL 503 (12.5 %)• PL 518 (15 %)• PL 526 (20 %)• PL 530 (10 %)

• Use of Rex Technology for Norway Concessions• No Change in Purchase Consideration

Deal Closing

18 April 2012

On 2 May 2012, Norway LOI translated to Definitive Agreements. On 28 May 2012, Lime’s stake in Masirah Oil was finalized at 64 %.

07/22/1

1

08/19/1

1

09/16/1

1

10/14/1

1

11/11/1

1

12/09/1

1

01/06/1

2

02/03/1

2

03/02/1

2

03/30/1

2

04/27/1

2

05/25/1

2

06/22/1

2

07/20/1

2

08/17/1

2-100%

-50%

0%

50%

100%

150%

200%

250%

300%

350%

400%

Brent (%) KLSE (%)Mother Share + Warrant (%) Mother Share (%)

Mkt Cap: US$ 218 mil5 Sept 2012

Lime Assets – Middle East Concessions

Exploring New Frontiers

RAK OFFSHORE RAK

ONSHORE

SHARJAHOFFSHORE

OMANBLOCK - 50

RAK OFFSHORE Dahan PetroleumRight Ally – 16 %Schroder – 25 %Lime – 59 %

SHARJAH OFFSHORE Zubara PetroleumLime – 100 %

OMAN BLOCK 50Masirah Oil Lime – 64 %Petroci – 36 %

RAK ONSHOREBaqal PetroleumLime – 100 %

The Most Prolific Petroleum Basin In The World

Lime Assets – Norwegian Concessions

Exploring New Frontiers

PL 526Vågar/Karl

PL 503Valberget

PL 518Zapffe

PL 530Heilo

PL 518Dong – 40% (OP)North Energy – 15%Sagex – 10%Discover -20 %Lime – 15 %

PL 503Lotos EP – 25% (OP)Edison -25%North Energy – 12%Skagen – 25% Lime – 13 %

PL 530GDF – 40% (OP)North Energy – 10%Discover -20%Rocksource – 20% Lime – 10 %

PL 526North Energy – 33.3% (OP)E.ON Ruhrgas – 33.3% Lime – 33.3 %

A Mature First World Petroleum Producer

Exploring New Frontiers

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov DecSeismic

AcquisitionReprocessing of existing dataProcessing, Interpretation & VD

DrillingWell EngineeringDrilling & Testing 3 wells Opt Well

Seismic AcquisitionProcessing, Interpretation & VD

DrillingWell EngineeringDrilling & Testing 1 well

Seismic AcquisitionProcessing, Interpretation & VD Drill or Drop

DrillingWell EngineeringDrilling & Testing 1 well

Seismic AcquisitionProcessing, Interpretation & VDPL 526 Drill or Drop WellPL 503 Drill or Drop WellPL 518 Drill or Drop WellPl 530 Drill or Drop WellN

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2012 2013

Well

Value Enhancement

Exploring New FrontiersValue Enhancement

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Oman

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RAK

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RAK

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Nor

Qualifying Acquisition• High Impact Advanced

Exploration to Build Value

RISK

PRO

FILE

TIME

IPO

- S

PAC

High

Low

July 2011 Oct 2011 April 2012 Q2 / 2013

Development Assets • Proven Resources to

Build Balance Sheet Resilience and Mitigate Risk Production Assets

• Cashflow for Profitability and Sustainability

Plan for Success Strategy for Exploration Assets

Portfolio balancingwill be the next

thrust

Lime Transaction

3D Oil Transaction

Strategy

3D Oil Transaction

Exploring New Frontiers

3D Oil Transaction

Exploring New Frontiers

Hibiscus Petroleum Berhad (Hibiscus)

Oceania Hibiscus Sdn Bhd (OHSB)

Carnarvon Hibiscus Pty Ltd (Operator)3D Oil Ltd (ASX Listed)

Direct Investment in VIC/P57[Unincorporated JV]

AUD 27 MM – Farm-in Agreement for a 50.1 % stake in

VIC/P57

AUD 2 MM – Subscription Agreement for placement of

new shares in PLC

100%

13% 100%

49.9% 50.1%

Regulated by a Joint Operating Agreement to be entered into by both parties

MalaysiaAustralia

• As part of its portfolio balancing strategy, Hibiscus Petroleum, through Oceania Hibiscus and Carnarvon Hibiscus is proposing to:

o Subscribe to 13% of the enlarged current share capital of 3D Oil Ltd.

o acquire a 50.1% farm-in interest in VIC/P57 for AUD13.5 million and an additional contribution to project expenditure of AUD 13.5 MM (collectively referred to as the “Proposed Transaction”).

o Hibiscus to be the Operator of the concession

• Total Hibiscus Petroleum commitment is AUD 29 MM

Hibiscus Petroleum Berhad (Hibiscus)

Oceania Hibiscus Sdn Bhd (OHSB)

Carnarvon Hibiscus Pty Ltd (Operator)3D Oil Ltd (ASX Listed)

Direct Investment in VIC/P57[Unincorporated JV]

AUD 27 MM – Farm-in Agreement for a 50.1 % stake in

VIC/P57

AUD 2 MM – Subscription Agreement for placement of

new shares in PLC

100%

13% 100%

49.9% 50.1%

Regulated by a Joint Operating Agreement to be entered into by both parties

MalaysiaAustralia

Exploring New Frontiers

• Australia’s most prolific oil & gas basin, close to major existing infrastructure, including established oil & gas refineries

• Operations are made up of 18 platforms and several subsea tiebacks

• Over 30 fields including 3D Oil’s West Seahorse field make up the Bass Strait grouping

• The key assets within the permit are the (proven) West Seahorse Field, and two Exploration Prospects, Sea Lion and Felix .

VIC/P57

VIC/P57

West Seahorse Field

• Estimate of 7.3 MMbbls was done

by RISC on behalf of Hibiscus• Certification of 9.2 MMbbls was

done by Gaffney Cline and Associates (engaged by 3D Oil)

3D Oil Transaction

The Future

Exploring New Frontiers

The Lime investment enters an important phase over the next 12 months.

CRPS provides us with financial resources to balance our risk profile.

First oil from VIC/P57 targeted for Q3 2014.

We continue to assess new opportunities.

Thank you for your support.

Thank You

Exploring New Frontiers