Slide 1: Forward-looking material notice
The following presentation contains certain “forward-looking material” that involves estimates, assumptions and uncertainties. No assurance can be given that FAR’s expectations or goals will be realised and actual outcomes may differ materially from those presented.
Slide 2: WTI Cushing oil price
‘WTI Cushing 941.38 05/01/2003 O7I012003" 08/29/2003 "10/29/2003 1213142003 O3/03/2004 05/03/2004 06/02/2003 O7/31i2003 O9/30i2003 11/28/2003 O2/02/2004 04/01/2004 May 1, 2003 - May 14, 2004 WTRG Economics ©20( wanw.wtrg.com — Close (479) 293-4081 May 04 Investor 2004 2
Slide 3: First Australian Resources Ltd
RALIAN RESQURCES LTD bis 2° A a Se a
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Slide 8: Carnarvon Basin Infrastructure Map
p KARRATHA CARNARVON BASIN INFRASTRUCTURE MAP m Q m = “J First Australian Petrolowm Permits. Convential Platform. Subsea completian Proposed development [orame ate ]] Me Oil and Gas > Well Location wel? LNG Carrier Niall. © - Oi) Garrier LNG storage tanks @ 2] Oil storage tanks & Onshore production
Slide 9: Muggles and Hellybelly prospects
“MUGGLES PROSPEC! _[HELLYBELLY PROSPECT | \ = LS a : PN : ee fees
Slide 10: Stratigraphic units
‘° ) we Pe 0 OS a bigs) s c O AGE BNaTe| eth STRATIGRAPHIC LC, FLAGELLATE ety UNITS , in AGE ZON ES festa * ngram & Morgan Noten Ma trang N06 | rerlty" Wee [EXMOUTH BARROW DAMPIER —_BEAGLI ; ag Sapam THOSHEGT : d =| aARREMIAN ap 4 2. MaUTERIAN [be teeters — 2. . P hircer BRNEABRAENES ig; ey 4 8) VAL
Slide 11: Secondary migration
sndre North Secondary migration - Oil spilled from Angel Fieid goes -endre South Dif migration rough Angel Fm from Spill from Legendre Nth at BCU level heads northwards heading into fault between Legendre-1 and -2 nature Dingo ource to west PL4 Spill from Legendre ith at BCU svel heads outhwards ood
Slide 12: Migration pathways M. australis
* 7 tion Pathways-M--australis—— tee 1 ° Gyo I Spill from Legendre anes Sth migrates u: bounding fault oo / ci M. australis level Supported by lack of é - ; a shows at this level in Zz Cerberus-1, Cygnus-1 and Bugle-1 Seay kone PROSE ECT M.ausiralis Sand Depth Map with underlying Bese Greieceous Uno
Slide 13: M. australis Depth Structure Map
M.australis Depth Structure Map _ Muggles Muggles Prospect “" Mean Rec Reserves: 33.5mmbbls a Nuoghe aT Maustralis Sand Depth Map ‘with undenying Bene Creteascus U0 CL am a — Investor 2004
Slide 14: Wits
Wits Gh a L6100 L6200 am Coe L6300 L6400 L6500 L6600 SE
Slide 15: Stratigraphic Cross-section
| _Turonian | | Cerberus-1 PECOPOC OVS g G3 H Hl ella ustralis Law EY= 4 OREO Unconformity a 1 Peery epg PF Stratigraphic Cross-section Datum : Turonian Unconformit
Slide 16: Muggles
Muggles Legendre Field / 7 731AN- roth agey
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Slide 19: wi SELENA RARE IM ass IE
wi SELENA RARE IM ass IE cy oo 7 Le og 7 Les ay Lo an Cee yay ee Soy = Hh i see a ton NM cg ih Hi ha = == es a — < ee a == Lo we oy TG Ae Ley ee UE LST TEA _) _ Ls eG oS My y Wee EZ eg We ULE Gey Bee, ye
Slide 20: Investor 2004
Investor 2004
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i a ce ae Y I 4 : SA Tt MZ ae 8 Bee sas OS
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Investor 2004
Slide 23: Canning Basin permit map
‘ © puratiest Oil and Gas weil Cll and Gas show > Gil show ry, =. Derby ; > Dry weil 725 ¥ CANNING BASIN emo mee. Major salt siargin fault Gas |. Leads and prospects 22. Devonian carbonate shell edge | 1, Gas field i. CH field POINT TORMENT GAS FIELD | Production Licence Application Area ‘ST KORA OI
Slide 24: Point Torment-1 geological cross section
POINT TORMENT-1 N x S VALENTINE PROSPECT GEOLOGICAL cross SECTION EP 104 (R4)
Slide 25: Exploration Permit EP-104 (R4) Point Torment-1 well history
12. EXPLORATION PERMIT EP-104 (R4) POINT TORMENT-1 WELL HISTORY Point Torment-1 drilled November, 1292 to a total depth of 2,130 metres. Well encountered oi! shows 1850) - 1855 & 1887 — 1891 metres: and gas shows 2025 — 2115 metres; both in the Early Carboniferous Anderson Formation. DST-1 2085.8 —
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j ee Usa ts ECONOM| :
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Sita pia nee
Slide 28: United States location map
\ ( \ ay . LE ) UNITED STATES OF AMERICA pon Le A lm Cheyenne Chicago m~ oo) ‘ San Francisco any ; EAGLE PROSPECT aie \ ea WEST BUFFALO al % - WALLOW 2 “wa Los Angeles Pg Batya s ‘\ | 7 | OILFIELDS of — : LOUISIANA / TEXAS — 4 4itantic Yo, | ee PROGRAM x \ ISS ee / or = Jexas New Orleans \ Pacific s
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Slide 32: WEE foes
WEE foes ga out heas Ge ea, ee eo ey Se ee Oe @) te on Bere ay a Zi = . — ‘ - _ ” i " ROR ie eS sii be : y ey Z : ; i ee cepa ee, He reese ini eps gcanarcemcieeee a Bence yy ; eer a yy - 6 - j , Cy Ly ——— s ieaom , ; Lo ey t ei ee Vee a La Ly wo Ly) TCG Wg ee a ee she La o Ee oy oo ye Wie i LC ye a
Slide 33: i ey Jor : oy Oe
= —— i ey Jor : oy Oe i _INOTLNWE ee —— _ Low Risk Deven rent S10 BCE (at USE) se —— Te i “Main Obiective, 3000 Cib Op gee jective: Pe 10° Cib. Op. Vey ye ; Cea Le aan Fe Udy) i Ee, ue _. ni ose en a gl out Uy ae Ly a AD ea a, i 7} Wie 0 fen Ic as Ne en eos a Ly
Slide 34: Prospect location and structure map
RITE RIB E | thal GOCLF | . . if SANA . Prospect Location oS oe Lake Long Dee - UPR 1998 Cib. Ly. TP Sak cf , Op.Discovery : os a sug | Pecos Kent Bayou Field eT iz) ae ‘ o/ PY 3. y tn WV Y . ° a : Ri £ (7 % Ze, SIN (i Tro eons | PALMETTO _ well in RARE pec . | . : See atthe COI Figure 8—-Structure
Slide 35: Analog field Kent Bayou type log
550’ Gross Pay 700 Pay column - approximately 640 acres 5 wells: Cum. 3/2000- 6/2002 545 BCPG + 116 MMBC Initial, Daily Production 5 wells: 95 MMCFGD + 8,600 BC Porosities average 25% Perms as high as 5 Darcies Analog Field - Kent Bayou - Type Log: Cib. Op. Pay Interval May 04 Investor 2004
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Slide 38: Henry Hub gas price
Henry Hub $7.50 +- $7.00 $6.00 -- $5.50 -f ‘F OSROTEE te + er + $5.00 -|~ $4.50 - I | i $4, og wf scanninnnnnintsnnonamntnemitinnasnnsannn $3. 50 he is ge ed aN Ca012003 OF/0T003 GESReO0S IWNeSIN00S iamia007 OSNsm004 tbnoRn0d May 1, 2003 - May 14, 2004 WTRG Economics S20 mee Close (479) 293-4081 Inv
Slide 39: Se SADT AEE
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Slide 40: Eagle Oilfield Development Project, San Joaquin Basin
PRCT ORS PETRA ETE NE. ‘SF EAGLE OILFIELD DEVELOPMENT PROJECT SAN JOAQUIN BASIN, CALIFORNIA @ Low risk 24 million barrel and 62 BCF stratigraphic oil field development play with 223 BOPD and 1 MMCFD 1986 field discovery well with 31 metre gross oil column @ Targeting sandstone reservoir at 4300 metr
Slide 41: Eagle-1 horizontal wellbore path
WOCTEUT AP ETRE A “aim Eagle-1 horizontal wellbore path in Gatchell Oil Sand 4q sty ant ny tc 'F Subsea Cross Section View along 320° Azimuth ao da om TTD ORS i THEY Sotmaweitsy CoH f cre isis boty RR Te xe an a ae we 100 a Energy Califormta, Ine | Ec Apert Cha BS vhs alawiais wills corrantin aii lo
Slide 42: Proposed 3-D Seismic Survey
josed 3-0 Seisnfic Survey / rdge Eagle #2 rd OS ITIE roposed cation Investor 2004
Slide 43: Meo ee
fi pi (4 we ue Meo ee L a yy i Ze Lane oo Sie ey y ie yy, yy Oe Lee Bis He We 4 a ey 4 Lee LSU y @ a wy
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Slide 45: FAR share price chart
@ PaRiECcn Charts FAR -- FIRST AUSTRALIAN 47-May "0.12 “Eoad $0.052 é o.09 Price (D ollars) Close: -Fo.08 -/-0.07 - Ao.06 “boos -Eo.04 May o3 t Jun o3 owls i dul o> se piel sitet fella Mt at ean ne « J hue dled, Aug Sep. Oct Mov: Dre Jan Feb.” Mar O35 O3 oO3 os os o4 o4 o4 Volume (millions) Investor
Slide 46: FAR option price chart
Conmsec @ Parilech charts | FAROA - FIRST AUSTRALIAN OPTION 31-JUL 1F-hMay 0.085 -0.05. 18 : = 0.045 SP . u “O04 g 0.035 SL 00S 7.025 -Eo02 5 : 2 0015 0.04 -Eooos Sscaenvecver aoraar Wh Prem veri (rel PNT WA: Mayo. Jun Jul Aug Sep. Oct Move Dec Jan Feb” - Mar-Apr O35 O3 Oo 3 Oo3 Oo3 Oo3 Oo3 Oo O4 O4
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