www.lionenergy.com.auApril 2016

North Sumatran Basin South Block A PSC Opportunity

Kim Morrison

CEO, Lion Energy Limited

Seapex

8 April 2016

A New Approach to Asian Energy

A New Approach to Asian Energy

Important notice and disclaimer

Forward-looking statements

Certain statements contained in this presentation, including information as to the future financial or operating performance of Lion and its projects are forward-looking statements. Such

forward-looking statements:

• should or can generally be identified by the use of forward looking words such as "anticipate", "believe", "expect", "forecast", "estimate", "will", "could", "may", "target", "plan" and other similar expressions within the meaning of securities laws of applicable jurisdictions, and include earnings guidance and statements of intention about future matters and the outcome and effects of the equity raising. Indications of, and guidelines or outlook on, future earnings, distributions or financial position or performance are also forward looking statements;

• are based upon a number of assumptions and estimates that, while considered reasonable by Lion, are beyond the control of the Company has they are inherently subject to significant technical, business, economic, competitive, political and social uncertainties and contingencies;

• involve known and unknown risks and uncertainties that could cause actual events or results to differ materially from estimated or anticipated events or results reflected in such forward-

  looking statements; and

• may include, among other things, statements regarding targets, estimates and assumptions in respect of production, prices, operating costs, results, capital expenditures, reserves and resources and anticipated flow rates and are or may be based on assumptions and estimates related to future technical economic, market, political, social and other conditions.

  This Document is provided to the recipient on the basis that the recipient understands and acknowledges that it may not rely in any way whatsoever on the Document or other information. Unless legally required, the Company undertakes no obligation to update publicly any forward looking statements, whether as a result of new information, future events or otherwise.

  
  

  General Disclaimer

  The Company has taken all reasonable care in producing the information contained in this document, however it does not guarantee the accuracy of information or analysis provided. The Company will not be responsible for loss or damage arising from the use of this information. The contents of this document should not be used as a substitute for detailed investigations or analysis and we strongly recommend you obtain independent professional advice before making any investment decisions about the Company.

  You may use the information for your own personal use or to inform others about our materials, but you may not reproduce or modify it without our express permission.

  
  

  Competent Persons Statement: Qualified Petroleum Reserves and Resources Evaluator

  Pursuant to the requirements of the ASX Listing Rules Chapter 5, the technical information, reserve and resource reporting provided in this document are based on and fairly represent information and supporting documentation that has been prepared and/or compiled by Mr Kim Morrison, Chief Executive Officer of Lion Energy Limited. Mr Morrison holds a B.Sc. (Hons) in Geology and Geophysics from the University of Sydney and has over 28 years' experience in exploration, appraisal and development of oil and gas resources - including evaluating petroleum reserves and resources. Mr Morrison has reviewed the results, procedures and data contained in this presentation. Mr Morrison consents to the release of this report and to the inclusion of the matters based on the information in the form and context in which it appears. Mr Morrison is a member of AAPG.

  Lion Energy overview

  ASX listed with pure Indonesia focus and highly experienced management team

  
  

  Assets:

  • Seram PSC (2.5%) - 4200 bopd production (105 bopd net) and appraisal upside (Lofin 2tcf discovery/50 bcf net)

  • South Block A (35%) - exploration

  • Two unconventional joint studies

    complete

  • Two unconventional JS applications

    
    

    Major shareholders:

  • Risco Energy Investments (54.7%)

  • Tower Energy (6.6%)

  • Management (13.5%)

    SOUTH BLOCK A PSC

    Exciting, underexplored block

    
    

    • 1579km2, multiple plays

    • PSC signed 2009, current term expires Dec 2016,

      commitment well to be drilled will allow 4 year extension

      Participants:

      Lion Energy 35%

      REE (Operator) 51%

      POGI 14%

    • On trend with major fields, 2013 Matang-1 discovery,

    • New 400 mmscfd pipeline through SBA (Arun LNG regas to A' Medan)

      A

    • 183 km 2014 seismic program high-graded two prospects:

      • Jerneh: large upside gas/condensate

      • Amanah Timur: low risk, shallow oil

A

TWT (s)

0.0

South Block A PSC A'

Jerneh Simpang Deep (offset) Amanah Timur (offset) Kuala Langsa Field

0.5

1.0

1.5

Keutapang Section

2.0

2.5

3.0

3.5

4.0

2.5km

Regional composite seismic line shows large inversion features in west of SBA PSC.

Top Baong

Top Peutu