Investor Presentation

30 November 2015

• The information contained in this Presentation or subsequently provided to the Recipient of this Presentation whether orally or in writing by or on behalf of Norwest Energy NL ('NWE') or their respective employees, agents or consultants ('Information') is provided to the Recipients on the terms and conditions set out in this notice.

  
  

• The Presentation contains reference to certain intentions, expectations and plans of NWE. Those intentions, expectations and plans may or may not be achieved. They are based on certain assumptions which may not be met or on which views may differ. The performance and operations of NWE may be influenced by a number of factors, many of which are outside the control of NWE. No representation or warranty, express or implied, is made by NWE or any of its respective directors, officers, employees, advisers or agents that any intentions, expectations or plans will be achieved either totally or partially or that any particular rate of return will be achieved.

  
  

• The Presentation does not purport to contain all the information that any existing or prospective investor may require. It is not intended to be a complete or accurate statement of material information. In all cases, before acting in reliance on any information, the Recipient should conduct its own investigation and analysis in relation to the business opportunity and should check the accuracy, reliability and completeness of the Information and obtain independent and specific advice from appropriate professional advisers.

  
  

• The Recipient should not treat the contents of this Presentation as advice relating to legal, taxation or investment matters

  and should consult its own advisers. NWE and its advisers take no responsibility for the contents of the Presentation.

  
  

• NWE makes no representation or warranty (express or implied) as to the accuracy, reliability or completeness of the information. NWE and its respective directors, employees, agents and consultants shall have no liability (including liability to any person by reason of negligence or negligent misstatement) for any statements, opinions, information or matters (express or implied) arising out of, contained in or derived from, or for any omissions from the Presentation, except liability under statute that cannot be excluded.

  
  

• NWE is not aware of any new information or data that materially affects the information included in any market announcement referenced throughout the Presentation and that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed.

Capital structure

Share price performance

1.0

10.0

Volume (millions)

0.8 8.0

Price (cents)

0.6 6.0

0.4 4.0

0.2 2.0

0.0

May-15 Jun-15 Jul-15 Aug-15 Sep-15 Oct-15

Volume (millions) Price (cents)

0.0

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Investment Highlights

• Norwest maintains a strong focus on the northern Perth Basin, with a mix of both conventional and unconventional plays providing significant exploration potential and exciting opportunities for development and growth

• Potential to participate in 3 near term wells; Lockyer Deep-1, Xanadu-1, Arrowsmith-3

• Active exploration and appraisal program in 2016/17

  • conventional gas in the Lockyer Deep prospect;

  • conventional oil in the Xanadu prospect; and

  • unconventional gas in the Arrowsmith project.

• Potential for Waitsia conventional gas discovery to extend into EP368; Lockyer Deep-1 is drill ready (Norwest 20%)

• High equity positions (100%) in 3 northern Perth Basin permits, allowing plenty of equity to deal / transact

• Strong underlying gas supply and demand fundamentals and close proximity to pipeline infrastructure

• 100% ownership of underexplored EP492 and SPA-016 AO

  
  

  Strengths

• A demonstrated competent operator, with both drilling and hydraulic fracture stimulation programs executed at Arrowsmith Project

• Proven ability in regulatory approvals, community stakeholder engagement and native title agreements

• An experienced and competent team of staff and internationally experienced consultants

Key Objective: Increasing Long-term Shareholder Value

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