STRICTLY PRIVATE AND CONFIDENTIAL

CORPORATE PRESENTATION

August 2012
ENERGY HOLDINGS 2 LTD.
STRICTLY PRIVATE AND CONFIDENTIAL
Viking Energy Holdings
Corporate Overview
2
Viking Energy
Private oil and gas E&P company focusing on development and monetization of marginal
offshore oil fields in Africa and Asia with low risk step out exploration upside.
Operating gross 2P reserves of c.25+ mmbbl in Tunisia and the Philippines.
Target production of 30,000 bbl/d in the next 12-15 months.
Focus on highly cash generative assets.

Management team has significant experience in the oil and gas industry and offshore oil fields
developments worldwide.

Significant pipeline of asset acquisition opportunities being negotiated in Tunisia, Nigeria, the
Philippines and Australia with 30+ mmbbl of additional recoverable reserves.

Industry consolidation opportunity with Small Cap E&P companies in South-East Asia and
Australia seeking turnkey development solutions from a financial, technical and operational
perspective.
UPSTREAM OIL AND GAS VALUE CHAIN
DISCOVER FIRM-UP UNLOCK MONETIZE
EXPLORATION APPRAISAL DEVELOPMENT
Low risk / high impact
prospects adjacent to 2P
reserves.
Offshore discoveries with
high potential.
Development opportunities
requiring cost-effective floating
solutions.
Operate development assets when
they reach production stage.
VIKING ENERGYS CORE BUSINESS
PRODUCTION
STRICTLY PRIVATE AND CONFIDENTIAL
Viking Energy Holdings
Current Asset Base
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Current Asset Base:
Block / Field Country Water Depth Gross 2P Prod. At First Oil Viking W.I. Development Solution
Isis Concession Tunisia 73-77 m 9.1 mmbbl 10,000 bbl/d 80% FPSO
SC-6 (Cadlao) Philippines 18 m 6.0 mmbbl 11-14,000 bbl/d 40% MOPU (jack-up) + FSO
SC-54A Philippines 80-100 m 6.0 mmbbl 10,000 bbl/d 60% MOPU (semi-sub.) + FSO
SC-50 (Calauit) Philippines 100 m 5.5 mmbbl 10,000 bbl/d 70% Being Evaluated
Viking Energy has a portfolio of shallow waters offshore field developments that will be un-locked using cost-
effective offshore facilities (FPSOs or MOPUs tied to FSOs).

The Isis Field and the Cadlao Field will be brought into production in Q2-Q3 2013 following fast-tracked re-
developments using dry-tree completions (reduced lead time).

The development plans for SC-54A and SC-50 (Calauit) are currently being optimized in order to reduce risks
and maximize resource recovery.
Farm-in documentation currently being finalized.
STRICTLY PRIVATE AND CONFIDENTIAL
Top Structure Map & New Wells Trajectories: Gross Production Data:
Viking E&P Tunisia
Isis Concession Project Overview
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Development Concept: Field Characteristics & Development Plan:
Discovered in 1974 by Total in 77 meters of water.
Fractured carbonate reservoir with STOIIP of 71 mmbbl.

Initial development from 2001 to 2006 by Coparex /
Lundin. 3 horizontal wells produced 7.5 mmbbl.

Remaining 2P reserves of 9.1 mmbbl (Senergy) and low
risk prospect to the NE of the Concession with 3.0 mmbbl
of prospective resources.

Viking Energy (80%) Operator. Remaining 20% held by
ETAP (Tunisian NOC).

Wells to be tied back to 2 WHPs linked to a FPSO. Total
CAPEX to first oil of c.US$110 million.
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Isis-11
Isis-10
Isis-12
Isis-13
WHP + Dry Trees Turret Moored FPSO
Flowlines + PLEM
4 new horizontal development wells drilled in 2 Phases.
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First Oil in Q3 2013 at
10,000 bbl/d. Light and
sweet crude (36 API and
0.258% of sulphur).
Phase 6-12 months after
first oil.
STRICTLY PRIVATE AND CONFIDENTIAL
Top Structure Map & New Wells Surface Location: Gross Production Data:
Viking Energy Philippines
SC-6 Cadlao - Project Overview
5
Development Concept: Field Characteristics & Development Plan:
Discovered in 1977 by Amoco in 18-90 meters of water.
Fractured carbonate reservoir with STOIIP of 40 mmbbl.

Initial development from 1981 to 1991 by Amoco. 2 vertical
wells produced 11.0 mmbbl.

Remaining 2P reserves of 6.0 mmbbl (GCA).

CADCO (80%) Operator (50% owned by Viking Energy).
Remaining 20% held by VenturOil.

Re-development with 4 new deviated wells drilled in 2
Phases tied back to a jack-up MOPU and a FSO moored
to a CALM Buoy. Total CAPEX to first oil of US$50 million.
0
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2P Production 2P Cumulated Production
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First Oil in June 2013 at 14,000
bbl/d. Very light crude (47 API
and 0.520% of sulphur).
Phase 6 months after first oil
Jack-up MOPU
Submarine Hose
PLEM
CALM Buoy
FSO
STRICTLY PRIVATE AND CONFIDENTIAL
Overview of Block: Gross Production Data:
Viking Energy Philippines
SC-54A - Project Overview
6
Resource Base & Development Concept: Field Characteristics & Development Plan:
Viking Energy (60%) Operator. Other licence holders
include Nido Petroleum, Kairiki Energy, Trafigura, and TG
World.

3 offshore discoveries located in 90-100 meters of water
(Tindalo, Yakal and Nido 1X1).

Recoverable resources of 5-6 mmbbl and low risk step-
out exploration upside in the Nandino prospect (3-4
mmbbl of prospective resources).

Extended well test in Tindalo (cumulative production of
250,000 bbl and high flow rates achieved).

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Tindalo
Yakal
Nido
1X1
Development of the SC-54A Block in 2 Phases:

- Tindalo and Yakal to be brought in production from 2
horizontal wells; and
- Nido 1X1 expected to follow after 6-9 months of
production.

The Nadino prospect may be drilled as part of Phase 2.

Fields developed with subsea wells tied to a semi-
submersible MOPU and a FSO moored to a FSO.

First oil expected in 15-18 months at 20,000+ bbl/d. Total
CAPEX to first oil estimated at US$50 million.
Months
STRICTLY PRIVATE AND CONFIDENTIAL
Viking Energy Holdings
Project Execution Team Profile
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Russ Guyatt Project Manager / Isis Concession
Reservoir engineer with 30+ years of experience in the oil and gas industry. Started his career at BG Group as Petroleum
Engineer. Held senior positions with Ranger Oil / CNR such as Reservoir Engineering Manager in charge of all reservoir
engineering activities of the company, Project Manager of the Kiame oil field (offshore Angola), the Kyle oil field (offshore
UK) and the Baobab oil field (offshore Cote dIvoire). Previously VP Engineering of PanOcean Energy (Etame oil field
development offshore Gabon) and VP Technical of Equator Exploration.
Miltos Xynogalas Head of Geosciences
Geoscientist with 20+ years of experience in the oil and gas industry.
Previously geoscience specialist with Premier Oil in Indonesia, India and West Africa (seismic acquisition and
interpretation). Held senior geophysicist positions with Shell in Malaysia (Quantitative Interpretation Geophysicist) and in
Nigeria (Principal Geophysicist). Recently VP for Exploration and Production with Transworld Oil.
Ian Ripley Project Manager / SC-6 (Cadlao) & SC-54A
Chemical and structural engineer with 30+ years of experience in oil and gas project management with oil companies
(Woodside, Oxy, Apache, Daewoo and Talisman) and large services companies (Amec and Clough). Mr Ripley has an
extensive experience in offshore project developments and re-developments in Australia (Goodwyn, Stag, Devil Creek),
UK North Sea (Brent),Thailand (West Seno), Myanmar (Shwe), and Vietnam (HST/D) involving fixed and floating offshore
production facilities and budgets of US$1+ billion.
STRICTLY PRIVATE AND CONFIDENTIAL
Viking Energy Holdings
Contact Details
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Conrad Clauson
Executive Chairman
Email: conrad.clauson@vikingfds.com

Edouard Etienvre
Commercial Director
Email: edouard.etienvre@vikingfds.com