Slide 1: Merger with Flow Energy
For personal use only FAR Limited Merger with Flow Energy Increasing exposure to high impact African exploration Investor Presentation September 2011 Page: 1
Slide 2: Disclaimer
Disclaimer For personal use only This presentation has been prepared by FAR Limited (“FAR” or the “Company”). It should not be considered as an offer or invitation to subscribe for or purchase any securities in the Company or as an inducement to make an offer or invitation with respect to those se
Slide 3: Creating Leading African Focussed Oil & Gas Explorer
Creating Leading African Focussed Oil & Gas Explorer For personal use only FAR Limited (FAR) to merge with unlisted public Australian company Flow Energy Limited (Flow) by way of off‐market takeover offer to create a leading African focussed oil & gas explorer Combined entity has diversified por
Slide 4: High Impact – World Class Exploration Potential
High Impact – World Class Exploration Potential For personal use only Page: 4
Slide 5: Transaction Overview
Transaction Overview For personal use only FAR has reached agreement to merge with Flow via off‐market takeover offer (Offer) Merger to create a well funded oil and gas exploration company with a diversified, highly Transaction prospective African focussed portfolio with additional projects in J
Slide 6: Combined Entity Corporate Snapshot
Combined Entity Corporate Snapshot For personal use only Company Torrent FAR FAR Ticker n/a FAR FAR Shares on Issue (million) 1 20.58 1,245.4 2,123.4 Share price (A$) 2 1.00 0.028 0.028 Options on Issue (million) ‐ 24.8 24.8 FAR Convertible Notes on Issue (million) 3 ‐ 6.5 6.5 Equity Value (A$m) 4 2
Slide 7: Transaction Strategic Rationale
Transaction Strategic Rationale For personal use only Creates a diversified portfolio of highly prospective oil and gas exploration projects 1 The combination of FAR’s assets in offshore Senegal, Guinea Bissau, AGC Profond and Flow’s assets in Kenya, Jamaica and Australia creates a world class h
Slide 8: Benefits to Shareholders – For FAR Shareholders
Benefits to Shareholders For personal use only For FAR Shareholders Addition of East Africa to portfolio to create balanced African explorer Access to additional highly prospective projects The combination of FAR’s assets in offshore Senegal, Guinea Bissau, AGC Profond and Flow’s assets in Kenya,
Slide 9: Benefits to Shareholders – For Flow Shareholders
Benefits to Shareholders For personal use only For Flow Shareholders Increased access to capital FAR is well funded and has a track record of access to funds Gain exposure to FAR’s significant West African portfolio Flow shareholders will gain exposure to FAR’s broad portfolio of world class hig
Slide 10: Overview of Flow – Kenyan Projects
Overview of Flow – Kenyan Projects For personal use only Offshore East Africa ‐ emerging oil and gas province First offshore exploration well drilled on the margin March 2010 by Anadarko – very large gas discovery 8 offshore wells drilled since March 2010 and 8 major discoveries made Block L
Slide 11: Overview of Flow – Jamaican Projects
Overview of Flow – Jamaican Projects For personal use only Offshore Southern Jamaica – frontier exploration acreage No exploration since 1980’s due to the poor quality of seismic data historically collected in the area (last well drilled 1978) The award of Flow’s exploration licenses marked th
Slide 12: Overview of Flow – Early Stage Australian Projects
Overview of Flow – Early Stage Australian Projects For personal use only Offshore Western Australia – proven petroleum system Located in the Dampier Sub Basin Mature basin surrounded by oil & gas discoveries and a considerable production High chance of success for valid structural traps Bl
Slide 13: Indicative Timetable
Indicative Timetable For personal use only Date Milestone 21 September Transaction Announced 21 September FAR Provides its Bidder’s Statement to Flow, ASIC and ASX 21 September Flow Provides its Target’s Statement to FAR, ASIC and ASX 21 September FAR Offer Opens 21 October FAR Offer Closes (unless
Slide 14: Contact Details
Contact Details For personal use only Michael Evans Cath Norman Chairman and Chief Executive Officer Managing Director FAR Limited Flow Energy Limited Suite 2, Level 1 Level 7 Exchange Tower 254 Rokeby Road 530 Little Collins Street Subiaco, Western Australia, 6008 Melbourne, Victoria, 3000 Ph: +61