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 ase presented. — = LIES i = Ly) y D | yee ye Se 7 Lo
Slide 2: Overview of FAR
Overview of FAR @ Non Operator Focus (more $$ in wells) ® Active International Portfolio (USA/China) @ Strong 3D driven 2005 Program (up.to10 wells) 9. Aug 2005) Shackles are off!!! . iv. . /.far.com.au) Footnote: FAR is 21 yrs of age. Only three companies presenting at this conference have survive
Slide 3: FAR Objectives
FAR Objectives Achieve drilling-success of 80% in 10 well program planned during 2005 Lodge oilfield development plan in China early third quarter Exploit new growth opportunities in USA and expand sales in 2005 Significantly.increase shareholder’ value. : Why FAR’s program should succeed? “@ Since
Slide 4: WHY?
WHY? @ BOOMING NATURAL | AS MARKET. | @STABLEREGIME = = © @ PROLIFIC HYDROCARBONS REMAIN @ INFRASTRUCTURE IN PLACE © : @ OPPORTUNITIES FOR JUNIOR EXPLORERS @®FAR NETWORK BUILT OVER, A DECADE:
Slide 5: Natural Gas Spot Henry Hub $/MMBTU
Ie $/MMBTU $14.00 - $13.00 +~ $12.00 $11.00 + $10.00 $9.00 - $8.00 $7.00 - $5.00 -)- $4.00 | 09/04/2004 "44102/2004 61/04/2005 03/07/2005 05/05/2005 07/06/2005 10/01/2004 f2/03/2004 02/03/2005 04/06/2005 06/06/2005 08/04/2005 Sept. 1, 2004 - Aug. 31, 2005 WTRG Economics ©2005 wna wirg.com (479) 293-
Slide 6: THE FAR MODEL
THE FAR MODEL Lake Long ( shows what FAR looks for) Lake Long has produced 300BCF and 20 mmbbis (70 mmboe) from 26 zones FAR has had 100% success rate in all five wells at Lake Long FAR recently increased interests.in the field Entire field has 3 : 6 producing wells generating >A$1m pa to. FAR: « 2
Slide 7: Proposed Well BCFG
Proposed Well 13 BCFG ollywood Sands Depth 11,000 15,500' 766 BCFG potential Cib. Op.Sands
Slide 8: DRILLING PROGRAM 2005
DRILLING PROGRAM 2005 USA | @ Welc Gas @ Lake Long Deep Hollywood Gas play Louisiana @ Eagle North 1 Oilfield. project, California @ Bay Courant Deep Gas Play, Louisiana ® Clear Branch Deep Gas Play, Louisiana ® South Grosse Tete Oil/Gas Play, Louisiana ® Rainosek shallow oil/deep Gas play, Texas ig
Slide 9: Bay Courant
Bay Courant déep gas pla -- 40 BCF SL1316"1 .. [FIRST AUSTRALIAN RESOURCES LTD. j 5 BAY COURANT FIELD 6x00 | CIB CARST SAND : Zone Acres ANP Recovery 8000 “Pr 440 50° 1.8 mm/AF LAFOURCHE PARISH, LA STRUCTURE MAP Gi. = 100" peso nt ‘Nj i See
Slide 10: BAY COURANT
BAY COURANT inflow Petrofeum Resource Bourg Sand Production above 12000° La Fourche Ph. Louisiana Dulac Sand (McGowan) common acquiver with Golden Meadow Cib Carst Section 40 BCF potential
Slide 11: South Grosse Tete
Show: 19083B0 +1.6MMCFG Bol. Mex, f° 11065' TD 41065" = 3-5MMBO Potential Lower monet Su | 12-15BCF Potential Martin Proposed Cal Gas ~ “Schwing 2. Location “Schwing STi o- o be noo yuma tT SOUTH GROSSE TETE Iberville Ph. Louisiana 100BCF + 5MMBO Potential S00BCF Potential
Slide 12: Potential: value of South Grosse Tete
Potential: (unrisked — speculative) falue of South Grosse Tete Formation Potential. Net Value Per FAR FAR (17%) Share A$million Undiluted (speculative) Bolmex 8-13 2-4 cents 11,650 ft : Nonion 12-15 BCF “| 2-3 cents 13,000 ft. >. ; Nodosaria 5 mmbbis 55 17 cents 13,500 100 BCF ; Wilcox — 9«13 mmbbis
Slide 13: Eagle Oilfield development project
Eagle Oilfield deyelopment.project San Joaquin Basin, California COAL PEROT iy LAKES OL wa afl “aE PRET AUSTRALIAN RESOURCES SUN RESOURCES: EAGLE OIL POOL IMPACT OF EAGLE DEVELOPMENT SUCCESS (SPECULATIVE-UNRISKED) iaFPACT PER SHARE (undiluted) (VPE case) San Joaquin Basin Index Map
Slide 14: Drill proven
Drill proven “2 anne ,00 stimulation tential of 38. BCF bis undergoing tudies FAR 9% -- a aA was thee id. Z50" Wiper <2 Biagiees ip pow Chaar RACES La Lt = 9 JACKSON PARISH, LOUISIANA. STAUCTURE MAP COTTON VALLEY (Seeand Sand), - Karola = BOY F i 0. ‘vou spr en00.--
Slide 15: SOUTH GROSSE TETE ~ 0.5TCF
SOUTH GROSSE TETE ~ 0.5TCF EAGEErreret 3.5 MMPQ2 25BCF | LOCATED. IN THE WORLDS BEST ~ MARKET FOR ENERGY | I (THE USA!) | oe WHY LOOK ANYWHERE ELSE?
Slide 16: Where are we heading?
Where are we heading?