July 2011

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The information in this presentation is in summary form and should not be relied upon as a complete and accurate representation of New Guinea Energy Ltd and or its various business activities. While management has taken every effort to ensure the accuracy of the material in the presentation, the presentation is provided for information purposes only. No representation or warranty, express or implied, is or will be made by New Guinea Energy or its officers, directors, employees or advisers as to the fairness, accuracy,

l t t f th i f ti i i d l i t i d i i li d b thi t ti t th bl f ticompleteness or correctness of the information, opinions and conclusions contained in, or implied by, this presentation, or as to the reasonableness of any assumption, forecasts, prospects or returns contained in, or implied by, this presentation or any part of it. The presentation may include information derived from third party sources that has not been independently verified.

This presentation should be read in conjunction with the 2010 Annual Report of New Guinea Energy and other periodic and continuous disclosure announcements that have been lodged by New Guinea Energy with the Australian Securities Exchange.

This presentation contains certain forward-looking statements with respect to the financial condition, results of operations and business of New Guinea Energy and certain l d bj ti f th t f N G i E F d l ki t t t ll b id tifi d b th f d h ‘ j t’ ‘f ’ ‘ l ’plans and objectives of the management of New Guinea Energy. Forward-looking statements can generally be identified by the use of words such as ‘project’, ‘foresee’, ‘plan’,

‘expect’, ‘aim’, ‘intend’, ‘anticipate’, ‘believe’, ‘estimate’, ‘may’, ‘should’, ‘will’ or similar expressions. Indications of, and guidance on, production targets, targeted output, development or timelines, exploration or expansion timelines, infrastructure alternatives and financial position and performance are also forward-looking statements.

Any forecast or other forward-looking statement contained in this presentation involves known and unknown risks and uncertainties and may involve significant elements of subjective judgment and assumptions as to future events which may or may not be correct. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of New Guinea Energy, and may cause actual results to differ materially from those expressed or implied in such statements. There can be no assurance that actual outcomes will not differ materially from these statements.

The forward-looking statements included in this presentation involve subjective judgment and analysis and are subject to significant business, economic and competitive uncertainties, risks and contingencies, many of which are outside the control of, and are unknown to New Guinea Energy. Given these uncertainties, you are cautioned not to place undue reliance on forward-looking statements. These forward-looking statements are based on information available to us as of the date of this presentation. Except as required by law or regulation (including the ASX Listing Rules) we undertake no obligation to update these forward-looking statements.

This presentation is provided for informational purposes only and is subject to change without notice. Subject to any obligations under applicable laws, regulations or securities exchange listing rules, New Guinea Energy disclaims any obligation or undertaking to release any updates or revisions to the presentation to reflect any change in e pectations or ass mptions Nothing in the presentation sho ld be interpreted to mean that f t re earnings per share of Ne G inea Energ ill necessaril match or e ceedexpectations or assumptions. Nothing in the presentation should be interpreted to mean that future earnings per share of New Guinea Energy will necessarily match or exceed its historical published earnings per share, or that there has been no change in the affairs of New Guinea Energy since the date of the presentation.

This presentation does not constitute investment, legal, taxation or other advice and the presentation does not take into account your investment objectives, financial situation nor particular needs. You are responsible for forming your own opinions and conclusions on such matters and should make your own independent assessment of the information contained in, or implied by, this presentation and seek independent professional advice in relation to such information and any action taken on the basis of the information.

References to dollars cents or $ in this presentation are to Australian currency unless otherwise statedReferences to dollars, cents or $ in this presentation are to Australian currency, unless otherwise stated.

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ABOUT PAPUA NEW GUINEA (PNG)GOVERNMENT Independent since 1975, stable, pro-development, low-tax environment.Constitutional parliamentary democracy and member of British Commonwealth of

( )

Nations.

CLOSE HISTORICAL TIES WITH AUSTRALIA Australia is PNG’s largest aid donor; 2011-12; aid $482M (AUD).¹Major investment and commitment by Australian business and mining sectors.

MAJOR RESOURCE PROJECTS Limited portfolio acreage available in Asia.

thExcellent fiscal terms, ranked 8th in the worldSoutheast Asia Multi-Nationals and National Oil Companies in ‘land grab’ in PNG.Current major operators include Exxon Mobil, Santos, and Oil Search.

- Exxon Consortium: US$18 billion LNG Project under construction.

¹ AusAID http://www.ausaid.gov.au/country/papua.cfm

Newest major entrant is Talisman Energy Inc.

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PNG FISCAL TERMS

The PNG government encourages resource development through simple, but very attractive fiscal terms:

2% Royalty

22.5% Government back in right at development stage (22.5% of previous costs fully id)paid)

30% Profit tax on production

100% T d d ti l ti100% Tax deduction on exploration

A portion of the Government’s 22.5% share is allocated to landowners ensuring they have direct exposure to project profits.

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100% NGE

Permit Equity Positions - June 2011

100% Talisman

50% Talisman / 50% Horizon

50% NGE / 50% Talisman

50% Talisman / 50% Sasol

New Oil Search (Nov 2010 farmin)

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EXCELLENT ASSETS

NGE possesses one of the last available highly prospective, onshore, non-li d iti i SE A ialigned acreage positions in SE Asia

Six onshore licences, 13 million net acres (52,000 km2), 50-100% interest

1 Billion bbls oil and 15 TCF of gas discovered in adjacent licences1 Billion bbls oil and 15 TCF of gas discovered in adjacent licences

Farm in agreements with Talisman Energy Inc to fund seismic programs(US$11 million) and up to 6 well program (US$90 million) over next fewyearsy

Ongoing activities in remaining blocks

Talisman will provide at cost technical support services to NGE as andwhen required in relation to NGE’s other licenceswhen required in relation to NGE’s other licences

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PROSPECTS

PPL 6 Prospects Mean MMBOE266 L k M W t 199

Undiscovered PIIP*

266 Lake Murray West 199

269 Tarim - Alene Oil and Deep Gas Case, OR 66

- Alene Gas and Deep Gas Case 41

269 Sepalosiphon (65% within PPL269) 46

269 Thelasis 44

269 Thelymitra 49269 Thelymitra 49

269 Ridlegella 50

TOTAL 429 454* Petroleum Initially-In-Place

TOTAL 429-454

* Petroleum Initially-in-Place

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EXCELLENT ASSETSUndiscovered PIIP*

PPL 10 Top Leads Mean MMBOE266 Aiambak 184268 Eulophia (268-6 Drape) 474269 Amdi 466269 Burnet 174269 Champion 50269 Gu River 80269 Muir 141269 Schoenorchis 104269 Stanley North 21269 Surprise North 84

TOTAL 1778

* Petroleum Initially – In – Place

TOTAL 1778

* Petroleum Initially-in-Place

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CAPITAL STRUCTURE as at 6 JULY 2011

ASX Code: NGE

No of Shares Listed: 846 541 193

Trading StatisticsThis MonthNo of Shares Listed: 846,541,193

Market Cap: A$110 million at $0.13

Options:

Last $0.13

High $0.13

Low $0.105

Highest Daily 1,129,000Options: 7,500,000 exercisable @ $0.275 before 28 August 2011

12,000,000 exercisable @ $0.30 before 1 March 20122,000,000 exercisable @ $0.25 before 28 December 20123,000,000 exercisable @ $0.25 before 27 December 20123,000,000 exercisable @ $0.30 before 20 November 2011

61,700,000 exercisable @ $0.45 before 1 October 20142 500 000 i bl @ $0 45 b f 27 J l 2014

g yVolume (05/07/11)

, ,

12 Months

Last $0.172,500,000 exercisable @ $0.45 before 27 July 2014

400,000 exercisable @ $0.45 before 7 February 2016

Rights:15,000,000 exercisable on 1 July 2012 at nil consideration with an expiry of 1 October 2014

High $0.26

Low $0.099

Highest Daily Volume (23/07/10) 18,177,253

Convertible Bonds:A$20 million in Principal of Convertible Equity Bonds, representing 100,000,000 fully paid ordinary shares at $0.20 with a five year term – maturing 30 May 2016

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CURRENT POSITION A$37.9 million in cash reserves at 6 July 2011 Share price range of $0.026 in February 2009 to $0.295 in September 2009

A$4 M i f d l i A$45M spent on infrastructure and exploration Drilled first well in June 2010 Listed on three stock exchanges – ASX, POMSOX and OTCQX

A$40M E it Li d d i F b 2011 ith YA Gl b l A$40M Equity Line expanded in February 2011 with YA Global First Well in 50% owned PPL 269 with Talisman due to spud July 2011

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NGE’s AMERICAN DEPOSITARY RECEIPT PROGRAMNew Guinea Energy’s ADR shares trade on the U.S. OTCQX platform under the following information:

• Symbol [NGELY]• CUSIP [644556102] U.S.

I t

Issuance Cancellation

U.S. B k

U.S. B k

U.S. E h

U.S. I t• Ratio [1] ADR : [50] ORDs

• Country [Australia]• Effective Date [November 30, 2010]• Underlying SEDOL [B1WNP64]• Underlying ISIN [AU000000NGE5]• Depositary BNY Mellon

Investor

Issue DRs

Broker Broker

The Bank of NY Mellon

Exchange Investor

Cancel DRs--Buy DRs- -- Sell DRs --

• Depositary BNY Mellon

ADR Benefits to U.S. Investors: ADRs give access to cross-border market liquidity

Sell Shares Buy Shares

Local Custodian

Deposit Shares

ReleaseShares

Confirm Deposit

Instruction to Release

ADRs give access to cross border market liquidity ADRs are cost-effective ADRs are convenient to own:

Quoted in U.S. dollars Dividends paid in U.S. dollars Seamless Tax reclamation process

--Buy Shares-- -- Sell Shares --

Local Broker

Local Broker

Local Exchange

Local Investor

Local Investor

For more informations, please call The Bank of New York Mellon marketing desks: New York Hong Kong

Seamless Tax reclamation process

London New YorkBNYM-Buy-SidePaul Hrubypaul.hruby@bnymellon.comTelephone 212 815 3095

BNYM – Sell-SideJoe Oakenfoldjoseph.oakenfold@bnymellon.comTelephone 852 2840 9717

BNYM – Sell-SideMark Lewismark.lewis@bnymellon.comTelephone 44 207 964 6089

BNYM-Sell-SideWendy Katzwendy.katz@bnymellon.comTelephone 212 815 2245

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CORPORATE DIRECTORYDirectorsDirectorsMichael Arnett - Executive Chairman NRW Holdings Limited, Nexus Energy Limited, Global Resources Limited and Queensland Energy Resources Limited.

Sir Michael Bromley Non Executive DirectorSir Michael Bromley - Non-Executive Director Heli Niugini Limited, Chemica Limited, Steamship Trading Company Ltd and Maps Tuna Limited.

Andrew Kent - Non-Executive Director Aspermont Limited Magyar Mining Limited and the Water Resources GroupAspermont Limited, Magyar Mining Limited and the Water Resources Group.

Andrew Martin - Non-Executive Director Sydney Gas Limited (Past), Sunshine Gas Limited (Past) and Ord River Resources Limited (Past).

Andrew Young - Non-Executive DirectorAndrew Young Non Executive DirectorAnzon Australia Limited (Past), Anzon Energy Limited (Past), Digitalcore Pty Ltd

ManagementGrant Worner - Chief Executive OfficerDan Kendrick - Operations & Geology

John-Paul McDonald - Project Manager

Francis Waina - Exploration Manager

Eric Sam Yue - AccountantFor

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IMPENDING GROWTH CATALYSTS2Q 2011 3Q 2011 4Q2011 1Q 2012

$20m in new funding New rig arrives PNG

CorporateProspectivity review-

Phase 2Corporate

New rig complete CorporateProspectivity review-

Phase 1

Review production offtake options

StanleyDevelopment Stanley-2 and -4

appraisal resultsStanley Condensate

FID Unitise Greater

Stanley discoveries

Stanley development

drilling

Exploration PPL 268 seismic results

Siphon-1 well resultsSpud PPL 268 well PPL 268 well

resultsresults Seismic PPL 265 results

RegionalA ti it

Awapa-1 (Sasol) in PPL 285 Talisman Foreland

D illi i PPL 261Talisman Foreland D illi i PPL 261

Huria-1 exploration well (Esso)

B ild l ti fActivity P’nyang Seismic (Esso)

Drilling in PPL 261 Drilling in PPL 261 Build location for P’nyang appraisal

well (Esso)

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EXCELLENT ASSETSNGE Exploration Licences

NGE possesses one of the last available highly prospective, onshore, non-li d iti i SE A ialigned acreage positions in SE Asia

Six onshore licences, 13 million net acres (52,000 km2), 50-100% interest

1 Billion bbls oil and 15 TCF of gas discovered in adjacent licences1 Billion bbls oil and 15 TCF of gas discovered in adjacent licences

Farm in agreements with Talisman Energy Inc to fund seismic programs(US$11 million) and up to 6 well program (US$90 million) over next fewyearsy

Ongoing activities in remaining blocks

Talisman will provide at cost technical support services to NGE as andwhen required in relation to NGE’s other licenceswhen required in relation to NGE’s other licences

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PPL 269 – PROSPECTS and LEADS

5 prospects mapped and 34 leads identified, remapping and additions to leadand additions to lead inventory underway

Major discoveries on trend, oil potential in west

Stanley Condensate Stripping Development 10km from proposed Siphon-1p

New reservoir at Stanley-2 Seismic complete Feb 2011,

July spud Siphon-1 Commercial farmout terms

with Talisman Energy Inc finalised

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SIPHON-1 WELL

Siphon-1 Exploration WellScheduled Spud: July 2011Pl d T l D h 392Planned Total Depth: 3925mRig: Parker 226

Objective: Toro Sandstone

NGE Mean Prospective Resource estimate:234 BCF gas / 7 MMBC(P t l i iti ll i l )(Petroleum-initially-in-place)

Results available 2H August

N t 2010/11 i iNote 2010/11 seismic program lines in dark blue

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PPL 269 – SEISMIC LINE K89-05

SepalosiphonStanleySW NE

Base Darai

StructureStructure

Top Toro

BasementTargeted Interval

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TERMS OF FARM-IN FOR PPL 269

Reimbursement of 75% of past sunk costs of A$6.24 million. Conduct a seismicprogram to the value of US$6 million and pay 100% of agreed costs of one well up

i f US$1 illi 0% ito a maximum cost of US$15 million to earn a 50% interest.

NGE has the option to assign up to a further 20% interest to Talisman which shallbe earned as to 12.5% if a second well is drilled at Talisman’s costs and a further7 5% if thi d ll i d ill d t T li ’ t B th ll ill h f US$157.5% if a third well is drilled at Talisman’s cost. Both wells will have a cap of US$15million per well.

NGE has the right to participate in the second and third wells to maintain its 50%i t t b i 25% f th d ll d 35% f th thi d llinterest by paying 25% of the second well and 35% of the third well.

In summary, through expenditure of approximately US$55 million, Talisman mayearn up to a 70% interest in PPL 269. By agreeing to fund US$9 million of that

dit NGE i t i it i t t t 50% i PPL 269expenditure, NGE can maintain its interest at 50% in PPL 269.

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PPL 268 LEADS

Sparse seismic control Southern margin of Cecilia

T h ki hTrough gas kitchen Reservoir potential

upgraded by recent Puk Puk-1 and Douglas-1 gas g gdiscoveries on trend

Seismic complete 1Q 2011 (shown in bold yellow) and well to followwell to follow

Commercial farmout terms with Talisman Energy Inc finalised

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PPL 268 LEADS

Darai

SW NE

Limestone

Ieru Fm

Lead

Elevala Sst

Basement

Typical 268 lead where reservoir onlaps ‘buried hill’, or upside scenario with continuous reservoir draped across entire featurescenario with continuous reservoir draped across entire featureF

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TERMS OF FARM-IN FOR PPL 268

Reimbursement of 50% of past sunk costs of A$2.48 million.

C d i i h l US$ illi d ib US$1 Conduct seismic program to the value US$5 million and contribute US$1.5million to an additional US$3.3 million seismic program to earn a 50%interest.

If T li d NGE l t t d ill ll t i t f US$15 illi If Talisman and NGE elect to drill a well to a maximum cost of US$15 millionTalisman will fund the first US$12 million plus 50% of the costs over US$12million to maintain its 50% interest.

T li h th ti t d ill d ll t i t f Talisman has the option to drill a second well up to a maximum cost ofUS$15 million to earn a further 10% interest.

Talisman has the option to drill a third well up to a maximum cost of US$15illi t f th 10% i t tmillion to earn a further 10% interest.

In summary through expenditure of approximately US$50 million Talismanmay earn up to a 70% interest in PPL 268.For

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PPL 266 PROSPECTS and LEADS 1 drillable prospect 20 leads defined by seismic

N h f bl k hi h Northeast corner of block high graded due to recent gas discoveries on trend

Previous wells drilled by Conoco yintersected hydrocarbons, second down-dip well intersected 30m of water-saturated reservoir

Seismic completed 1Q 2010 Firm up drilling target for 2011 Talisman drilling in adjacent

block during 2H 2011 will add to understanding of prospectivity

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PPL 265 LEADS

12 leads identifiedF l d d il l i Foreland gas and oil play in Morehead Graben

Oil extracted from cores in Mata-1

2009 aerogravity and magnetics survey delineates likely source areas2011 seismic program to 2011 seismic program to firm up drilling target for 2012

Seismic Focus AreaSeismic Focus Area

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PPL 267 LOCATION MAP

100km trend of oil seeps identified

Panakawa Prospect, surface seep flowing at 5 bbls/day

35 API oil from seep identifies il l i f l dnew oil play in foreland

2006 and 2008 seismic acquired over Panakawa Prospect

Well spudded in June 2010 and was plugged and abandoned

Residual gas shows over 150m significant C6+150m, significant C6+

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PPL 277 LEADS

13 leads identified Oil and gas condensate

Huria Prospect

Oil and gas condensate potential

Test distal Toro reservoir 2008 fieldwork identified

new seeps at SE Wage Lead

2011 field program to extend area of detailedextend area of detailed surface data.

Excellent access in central area along Kutubu Road

Proposed 2011 Field Program

Esso to drill Huria Prospect in 1H 2012

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Strategy for Appraisal, Development & Exploration

Implement drilling program with Talisman Energy Inc on PPL 268 and PPL 269.

Having drilled the Panakawa Prospect in PPL 267, use data to initiate new

gy pp , p p

g pseismic program to confirm second drilling target.

Continuing programs on greenfield targets in all other licences.

Utilise new NGE drilling rig arriving in 3Q 2011 to drill targets cost-effectivelyg g g Q g yand on a schedule favorable to NGE.

Continue to seek joint venture partners in the Company’s other 100% licenceinterests to expand the planned drilling and seismic program.

Evaluate potential to fast track production by participating in the Stanley GasDevelopment with new seismic and drilling at Sepalosiphon in PPL 269.

In summary, upcoming two year program includes up to 6 wells and significantseismic acquisition in PNG foreland. NGE will be a major contributor andparticipant in the Western Province gas aggregation program.

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CONTACT DETAILS

Sydney

N G i E Ltd

Port Moresby

N G i E LtdNew Guinea Energy LtdSuite 401Level 42-10 Loftus St

New Guinea Energy LtdLevel 5Pacific MMI BuildingChampion Parade

Sydney NSW 2000T: +61 (0) 2 9252 0010F: +61 (0) 2 9252 0039W: www.ngenergy.com.au

Port Moresby PNGT: +675 321 1785F: +675 321 1782

g gy

Executive ChairmanEmail: michaelarnett@ngenergy.com.auCompany SecretaryCompany SecretaryEmail: lucyrowe@ngenergy.com.au

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