A platform for expansion

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A platform for expansion

• Alex Parks CEO, Mosaic Oil (ASX MOS)
• Good Oil - September 2009

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Disclaimer forward looking statements

• This presentation may contain 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 affected by variables and changes in
  underlying assumptions 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, reserve estimations, loss of
  market, industry competition, environmental
  risks, physical risks, legislative, fiscal and
  regulatory changes, economic and financial market
  conditions in various countries and regions,
  political risks, project delay or advancement,
  approvals and cost estimates.
• All references to dollars, cents or in this
  presentation are to Australian currency unless
  otherwise stated.
• The views expressed within this document are
  solely those of Mosaic Oil and do not necessarily
  reflect the opinions of its joint venture
  participants.

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Another Disclaimer

• This presentation is by a CEO 10 days in to the
  role

Excellent Work MS. Hancock.. Ill be honored to
take credit for it.
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Corporate Summary Proven explorer and profitable
producer

• Mosaic Oil is a well established, profitable oil
  gas junior explorer and producer listed on the
  Australian Securities Exchange ASX MOS
• Capital structure
• FPO shares on issue 631.6m
• unlisted options 6.88m (7c-20c exercise price
  with various expiry dates)
• partly paid employee shares 19.2m (av. exercise
  price 18c)
• Market Capitalisation
• 80 million (_at_ 12.5c share price)
• Top 20 shareholders
• hold 23.7 (as at 30 June 09)
• Cash position
• 13.7 million (as at 30 June 09)

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Asset Summary A diverse project and exploration
portfolio

• Mosaic Oils principal mostly operated, producing
  assets are based in the proven Surat and Bowen
  basins of south east Queensland, where the
  company has
• 10 Production Leases (PL), 6 Exploration blocks
  (ATP)
• Pipelines and production facilities
• 50 of Wallumbilla LPG plant
• Exploration interests
• PRL 08, Papua New Guinea containing the Kimu gas
  field of potentially 0.5 trillion cubic feet
  (TCF) of recoverable gas (MOS 28.6)
• WA-208-P, North West Shelf, WA containing the
  Hurricane discovery and further prospects. (MOS
  6)
• PEP 51151, New Zealand exploration (MOS 50 )
• ATP 934P, Cooper Eromanga exploration (MOS 20)

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Surat-Bowen Basin 2008-2009 Drilling
ProgramContinuing the companys most active and
successful drill program

• 4 from 4 successful development wells in
  calendar 2009
• 8 new development wells on production in last 18
  months
• Fairymount-9 (PL 46 MOS 100)
• Waggamba-4H (MOS 50 gas 65 oil)
• Taylor-18 (PL 49 MOS 100)
• Taylor-19 (PL 16 MOS 100)
• Waggamba-5H (MOS 50 gas 65 oil)
• Churchie-11 (PL192 MOS 100)
• Taylor-20 (PL 16 MOS 100)
• Taylor-22 (PL 16 MOS 100)
• Numerous development drilling opportunities

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Mosaic Oil Equity-owned Infrastructure

• Guaranteed access at fixed/zero toll
• Improved field economics
• Reduced connection times for discoveries
• Over 72m insured value
• Silver Springs gas-liquids processing facility
  and gathering network
• MOS 100 owned and operated
• Wallumbilla (Wungoona) LPG Plant Pipeline
• MOS 50 equity ownership, Santos (50)
  Operator
• MOS operated Churchie and Downlands JV pipelines
• MOS Churchie 100 Downlands 75.25
• Lytton Crude Oil Terminal
• MOS 33.33

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Churchie Asset Acquisition Impact on MOS
reserves and production

• In FY 2009 Mosaic Oil acquired Santos Ltds
  interest in several production licences with the
  associated pipeline licences, production
  facilities, gas sales contracts and exploration
  permits in the southern Surat-Bowen Basin
  (effective 1 January 2009).
• All production licences, pipeline licences and
  exploration permits involved were already
  operated by Mosaic Oil.
• The acquisition will
• Significantly increase MOS 2P 3P reserves and
  production
• Allow Mosaic to control the future development of
  Churchie and Churchie West gas fields
• Increase the development options for the company

June 2008 Reserves
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Sound overall performance in FY2009 Solid
financial outcome off the back of strong
operational growth

• Production increased to gt480,000 BOE in FY2009
• Uplift in FY2009 of 18
• Sound revenue, EBITDA and net profit outcomes
• Operating revenue up 16 to 23.8m
• EBITDA up 8 to 8.6m

2009 EBITDA earnings before interest, tax,
depreciation, amortisation, impairment and
provision
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2009 New Business ProspectUnderground Gas
Storage opportunity is being reviewed

• Commercial studies and preliminary results have
  identified a high value project which could
  realise a new and significant revenue stream
• Business Opportunity within Existing Assets
• Nearly depleted Silver Springs-Renlim gas field
  with up to 75 PJ gas storage capacity is primary
  candidate.
• Technical and commercial evaluation of gas
  storage for Silver Springs-Renlim Field is
  progressing well
• Reservoir simulation study and conceptual
  facilities design complete
• Petroleum Survey License (PSL) applied for
  Wallumbilla to Silver Springs pipeline
• Feasibility study prior to financial decision is
  expected to be completed in 2009 calendar year
• Detailed marketing and negotiations in progress

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Mosaic Oil a platform for expansion

• A successful junior oil gas company with
  potential for growth
• Enviable reserves position and increasing gas
  liquids production rates
• Infrastructure to develop and produce 2P 3P
  reserves with good margins
• Debt Free increasing cash flow
• A proven operational capability and successful
  drilling history
• A range of high value creation opportunities
  including gas storage and exploration potential
• Sound governance with an experienced board
  management
• An appetite to grow be successful

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THANK YOU Mosaic Oil Good Oil Fremantle
Sept 2009 www.mosaicoil.com