Bedout Sub-basin Opportunity

Bedout

Sub-basin

Opportunity

An opportunity to

participate in the

development of the

Phoenix South oil

discovery and

exploration of an

extensive new oil

Opportunity Highlights

An opportunity to participate in Finder’s Bedout Sub-basin permits which include the recent Phoenix South

discovery

(1) Apache News Release, August 18, 2014

Opportunity Highlights



Significant oil

discovery with

potentially large

reserves

 The Phoenix South-1 well intersected at least four oil columns ranging in thickness from 26 to 46 metres

 There is estimated to be as much as 300 MMbbls in place(1) _{in the}

Triassic reservoir

 Phoenix South is the most significant oil discovery on the North West Shelf in the last 25 years



Oil and reservoir

quality indicate a

commercial

discovery

 Potential oil productive reservoir with permeability calculated up to hundreds of millidarcies

 Six oil samples recovered with API gravity estimates of 46 to 48 degrees



Extensive new oil

province with large

exploration potential

 Four permits totalling 5.36 million acres (21,720 km2_{) which have}

access to oil mature source rocks

 63 prospects and leads over seven play levels greater than 10 km2

identified on existing data, several larger than Phoenix South



Exposure to

near-term drilling and

development

 The joint venture is planning to drill the Roc prospect in 2015 (Finder is carried) which is a 3D supported target larger than Phoenix South

 The joint venture is considering appraisal of the Phoenix South discovery in early 2015

 Development concepts are currently being assessed targeting early first oil



Reputable operator

and a motivated joint

venture

 Apache is an operator of choice in Australia and has a strong reputation for developing projects on time and on budget

 The joint venture is aligned with the exploration and development strategy



Stable fiscal regime

 The assets are located in a stable OECD fiscal regime with supportive

state and federal governments

Asset Location

North West Shelf, Western Australia

1

Keraudren-1 Phoenix Phoenix South Roc Zeester MC3D Phoenix MC3D Bandy WA-436-P 30%* WA-435-P 20% WA-437-P 20% WA-438-P 30%*

2

Phoenix South Discovery

The Phoenix South-1 well intersected at least four discrete oil columns with oil and reservoir quality indicating a

commercial discovery

(1) Apache News Release, August 18, 2014

Source: Company filings, Apache and Carnarvon News Release August 2014

Phoenix South Overview

Drill Results



When Phoenix-1 well was drilled in 1980 the

outcome was assumed to be tight gas



The Phoenix South-1 well drilled in August 2014

was an oil discovery confirming the current

reservoir model

Size



The well intersected at least four discrete oil

columns ranging in thickness between 26 to 46

metres



There is estimated to be as much as 300 MMbbls

in place

(1)

Oil Quality



Six oil samples recovered with API gravity

estimates of 46 to 48 degrees

Reservoir



Permeability measurements from the sampled

zones indicate an oil productive reservoir



Permeabilities calculated in tested zones range

from tens to hundreds of millidarcies



Sand rich reservoir section between 4,160 and

4,540 metres confirms the reservoir model

Source



Oil intersected in the Lower Triassic Keraudren

Formation

Oil Samples

Well Log

Top of pay zones

Extensive New Oil Province

The joint venture is

drilling the Roc

Prospect in 2015

which is a larger

structure than

Phoenix South with

shallower and better

developed reservoir

There are 63

prospects and leads

greater than 10 km

2

identified on existing

data across all

permits with access

to oil mature source

rocks

The Phoenix South discovery revealed a new oil province in the North West Shelf with multiple

larger structures identified in the play

3

10 kilometres

E N

~3,500 m

~5,500 m

data courtesy Fugro Multi Client Pty Ltd

reef target reef target shallow oil targets

oil source

Phoenix-1 discovery (1980) Phoenix-2 (1982) no closure Phoenix Sth-1 oil discovery (2014) Roc-1 proposed (2015) Keraudren-1 (1974) no closure, good reservoir Bandy Lead Bottler Prospect Lwr Triassic oil targets Bewdy Prospect Roc-1 Phoenix South-1 Bandy

Overview of Finders’ Bedout Sub-basin Portfolio

Finders’ permits are in good standing with an aligned joint venture

4

(1) Subject to regulatory approval

Source: Company announcements, National Offshore Petroleum Title Administrator website

WA-435-P (Phoenix)

WA-437-P (Roc)

WA-436-P

WA-438-P

Participants

Finder Exploration (20%)

Apache (40%)

Carnarvon Petroleum (20%) JX Nippon Oil & Energy (20%)

Finder Exploration (20%) Apache (40%)

Carnarvon Petroleum (20%) JX Nippon Oil & Energy (20%)

Finder Exploration (30%) Apache (40%)(1) Carnarvon Petroleum (30%) Finder Exploration (30%) Apache (40%)(1) Carnarvon Petroleum (30%)

Operator

Apache Apache Apache Apache

Area

4,955km2 _4,855km2 _5,120km2 _6,790km2

Water Depth

110 – 240m 50 – 150m 110 - 210m 50 – 110m

Tenure

6 year term (plus extensions):

expiring 3 November 2015

6 year term (plus extensions): expiring 3 February 2016 6 year term: expiring 3 August 2015 6 year term: expiring 3 August 2015

Remaining

Commitments

Geotechnical studies 1 exploration well: Roc-1

(Finder is carried up to maximum of US$14m net)

400km2 _{Zeester multiclient seismic}

data

1,000km 2D seismic PSDM reprocessing

JV Data to Date

 510km2 _{MC3D seismic data}  178km 2D seismic survey  1,862km 2D seismic reprocessing  266km2 _{aeromagnetic survey}  590km2 _{MC3D seismic data}  27km 2D seismic survey  427km 2D seismic reprocessing  228km2 _{aeromagnetic survey}  330km 2D seismic survey  2,597km 2D seismic reprocessing  5,107km2 _{aeromagnetic survey}  231km 2D seismic survey  1,042km 2D seismic reprocessing  6,378km2 _{aeromagnetic survey}

Process & Timetable

Further information

will be provided to

parties in due course

Miro Advisors has been engaged as exclusive financial advisor in relation to the transaction

5

Miro Advisors - Contact Details

Process



Following execution of a Confidentiality Agreement, parties will be provided with

access to additional information including a Management Presentation and a

Data Room

Timetable



Finder is targeting submission of binding offers in Q1 2015

Transaction Details

Miro Advisors

Corporate Address

Level 1, 24 Kings Park Road

West Perth WA 6005 Australia

Phone: +618 9482 7700

Website: www.miroadvisors.com

Tim Woodall

Managing Director

email: [email protected]

phone: +614 3433 4116

Nigel Gordon

Director

email: [email protected]

phone: +614 1382 4466

Marcus Tieleman

Associate Director

email: [email protected]

Phone: +614 0533 1448

Chris MacKinnon

Associate

email: [email protected]

phone: +614 3308 4625

Disclaimer

Important Information about this Document

The information in and accompanying this Flyer (“Flyer”) has been compiled by Finder Exploration Proprietary Limited (“Finder”) and its advisor Miro Advisors Pty Ltd (“Miro”). It is provided to the recipient solely for the purpose of giving the recipient an opportunity to consider a transaction (“the Transaction”) including WA-435-P, WA-436-P, WA-437-P or WA-438-P (“Asset”) in the Bedout Sub-basin, Western Australia

The provision of this Flyer is not, and should not be considered as, a recommendation in relation to the Transaction or a solicitation or offer (public or otherwise) to acquire the Asset. Furthermore, this Flyer does not purport to include all the information that the recipient may require in order to investigate the interest in the Asset.

The provision of this Flyer is the initial stage of a process for the potential Transaction. The recipient acknowledges that Finder and its related entities, its advisor Miro, and their respective officers, employees, agents, advisors, shareholders and associates (collectively the “Transaction Parties”) have the right at any time without notice to the recipient or other recipients to enter into and conclude negotiations with any other person or entity in relation to a Transaction and at any time to terminate any negotiations with the recipient or any investigation by the recipient in relation to the Transaction as described in this Flyer, without being liable in any respect, to the recipient, its related entities and their respective officers, employees, agents, advisors, shareholders and associates (collectively the “Recipient Parties”) however incurred. For the avoidance of doubt, the Transaction Parties will have no liability for any costs or expenses incurred by any of the Recipient Parties in investigating, negotiating or completing any matter related to the Transaction described in this Flyer.

Neither the issue of this Flyer nor any part of its contents is to be taken as any form of commitment on the part of Finder to proceed with any party with any Transaction which may be contemplated by this Flyer. The Transaction Parties have the right at any time, in their sole and absolute discretion and without stating a reason therefore, to depart from or modify any procedures, timetables or course of conduct in relation to the potential sale of an interest in the Asset described in this Flyer or otherwise advised to the Recipient Parties. The highest offer for an interest in the Asset will not necessarily be accepted. An interest in the Asset may be sold to one or more parties, or an interest in the Asset may not be sold to any party.

The Transaction Parties make no representation or warranty (express or implied) as to the accuracy, reliability or completeness of any information contained in this Flyer. The Transaction Parties 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 Flyer, except liability under statute that cannot be excluded. Except where stated, the information disclosed relates to the interest in the Asset at the date of this Flyer. It is not intended to be a complete or accurate statement of material information. This Flyer 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 Flyer or other information. None of the Transaction Parties accepts any responsibility to inform the recipient or its advisers of any matter arising or coming to their notice, which may affect any information provided to the recipient or its advisers and if the Transaction Parties decide to inform the recipient and its advisers of any information or matter arising or coming to their notice they do so at their absolute discretion, subject to the terms of this Flyer and are under no obligation to provide that information to any other person.