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  • 1

    www.sterlingenergyplc.com August 2015

    Corporate Presentation

    November 2017

    www.sterlingenergyplc.com

  • 2

    www.sterlingenergyplc.com

    Disclaimer

    This presentation has been prepared by, and is the sole responsibility of, the directors of Sterling Energy plc (the Company).

    This presentation and the information contained in it does not constitute a prospectus or listing particulars relating to the Company and has not been approved by the UK Listing

    Authority, nor does it constitute or form any part of any offer or invitation to purchase, sell or subscribe for, or any solicitation of any such offer to purchase, sell or subscribe for, any

    securities in the Company, nor shall this presentation or any part of it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract therefore.

    No reliance may be placed, for any purposes whatsoever, on the information contained in this presentation, or upon its completeness or accuracy and this presentation should not

    be considered a recommendation by or on behalf of the Company or any of its directors, members, officers, employees, agents, advisers or any other person in relation to any

    purchase of, or subscription for, ordinary shares.

    No representation or warranty, express or implied, is given by or on behalf of the Company or any of its directors, members, officers, employees, agents, advisers or any other

    persons as to the accuracy, fairness, completeness or sufficiency of the information or opinions contained in this presentation and none of the information contained in this

    presentation has been independently verified or approved. All financial information contained within this presentation has not been approved by the Companys auditors and, as

    such, may be liable to change. Save in the case of fraud, no liability is accepted for any errors, omissions or inaccuracies in such information or opinions.

    This presentation and its contents and any accompanying information communicated verbally as part of the presentation, including the speeches of the presenters, any question

    and answers session and any materials distributed in connection with it, is being made only to and is directed only at (i) persons in the United Kingdom having professional

    experience in matters relating to investments, being investment professionals within the meaning of Article 19(5) of the Financial Services and Markets Act 2000 (Financial

    Promotion) Order 2005, as amended (the FPO), (ii) high net worth companies, unincorporated associations and other bodies in the United Kingdom within the meaning of Article

    49(2) of the FPO, (iii) in the United States to persons the Company reasonably believes to be qualified institutional buyers, as defined in Rule 144A(a)(1) of the United States

    Securities Act of 1933, as amended (the Qualified Institutional Buyers) and (iv) persons to whom the presentation may otherwise lawfully be made (together Relevant Persons).

    This presentation must not be acted on or relied upon by any persons who are not Relevant Persons. Any investment or investment activity to which this presentation relates is

    available only to Relevant Persons and will be engaged in only with Relevant Persons.

    Neither this presentation nor any copy of it may be distributed, forwarded to, or transmitted in or into the United States of America (except to persons the Company reasonably

    believes to be Qualified Institutional Buyers), Canada, Australia, Republic of South Africa, Japan or their respective territories or possessions or to any national, citizen or resident

    thereof or any corporation, partnership or other entity created or organised under the law thereof, nor into any other jurisdiction where the distribution thereof would breach any

    applicable law. Any failure to comply with the foregoing restrictions may constitute a violation of United States, Canadian, Australian, South African or Japanese securities laws. The

    distribution of this presentation in other jurisdictions may be restricted by law and any persons into whose possession this presentation comes should inform themselves about and

    observe any such restrictions.

    This presentation must not be copied, reproduced, published, distributed, disclosed or passed to any other person at any time without the prior written consent of the Company. By

    accepting receipt of this presentation you agree to be bound by the limitations set out above.

    Certain statements in this presentation are or may constitute forward looking statements. Such forward looking statements involve risks, uncertainties and other factors which may

    cause the actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed by such

    forward-looking statements. The information and opinions contained in this presentation are provided as at the date of this presentation and are subject to change without notice.

  • 3

    www.sterlingenergyplc.com

    Corporate profile

    Corporate snapshot

    LSE-SEY Ticker

    (AIM listing 2002)

    GBP 0.151 Share price

    220.1 Shares outstanding

    (million)

    220.1 Fully diluted share positions

    (million)

    $43.2m1 Market capitalisation

    (US$ million)

    $0 Debt (US$)

    $83.1m Cash at 30 Sept 2017

    (US$ million)

    Q3 2017 Financial summary (30 Sept-17)

    Turnover $1.7m

    Economic Interest daily

    production (bopd) 188

    Adj. EBITDAX

    (US$ million) ($1.4m)

    *0.3% of issued share capital under option

    Advisors

    1 as at 2 Nov-17

    Share ownership*

    Waterford

    Finance &

    Investment

    (29.45%)

    YF Finance

    (16.64%) Mistyvale

    (15.66%)

    Denis OBrien

    (7.16%)

    Banque Heritage

    (6.78%)

    Retail &

    Institutional

    (24.3%)

  • 4

    www.sterlingenergyplc.com

    32 Years

    22 Years

    Senior exploration, new ventures & management positions at Enterprise Oil,

    Shell International, Marathon Oil & Apache (UK, US, Brazil and Australia).

    Former Head of new ventures at Petrobras Oil & Gas BV (Africa focused

    Private Equity JV). Mr Jersing has a BSc in Geophysics and an MSc in

    Petroleum Geology from Imperial college.

    Eskil Jersing

    CEO

    Michael

    Kroupeev

    Non Executive

    Chairman

    Shareholder aligned Board

    Shareholder aligned Board (45% of fully diluted share positions represented)

    Founding Director, Waterford Finance & Investments Ltd (Oil & Gas focussed

    investment vehicle with shareholdings in companies with operations in Europe,

    Africa, North America and Australasia)

    Previously Non-executive director of Sibir Energy Plc & Dana Petroleum Plc

    29 Years

    Senior E&P executive with an MSc. in Petroleum Engineering from Delft

    University, the Netherlands. Following a successful career with Shell

    International, he has been involved in multiple successful business start ups of

    scale including EDP ltd, TAQA Bratani (UK) Ltd and TAQA Iraq BV. Executive

    Chairman at Columbus Energy Resources plc

    Leo Koot

    Audit, Remco

    Chairman & NED

    12 Years

    Representing Mistyvale Ltd. Investor in Private equity and Venture capital

    projects through Supremum capital and Concentric VC. Focus on finance and

    real estate sectors in Russia and UK. Previously with JP Morgan, Barclays

    capital and VEB capital in M&A, Corporate finance and capital markets. Mr

    Belyaev has an MSc in Mathematics from Moscow State University.

    Ilya Belyaev

    NED

  • 5

    www.sterlingenergyplc.com

    Transformative growth platform / shell

    Major shareholders represented on the Board

    Strong balance sheet, with ~US$83.1 million cash and

    disciplined approach in low oil price landscape

    Debt free & fully funded

    Continued Portfolio management

    Pro-actively focused on Chinguetti abandonment &

    decommissioning (A&D) program

    Odewayne revised farm-out terms (Payment of $3.5m

    and transfer of 6% to Petrosoma to cancel $8m

    contingent payment in April 2017)

    Odewayne 1,000kms 2D seismic campaign complete

    Mauritania C-10 disciplined exit at low cost

    Capital discipline

    Q4 2017 move to smaller office

    2017 G&A costs ca.31% lower than 2016 (2018

    forecast of $2.9m)

    Focused M&A

    Transformative shareholder driven mandate

    Broadened jurisdictional focus

    2P/2C onshore / shallow water bias with low break

    evens

    Disciplined M&A driven growth

    Value driven, uniquely positioned for material growth

    Mauritania

    Somaliland

    Odewayne

    Sterling 34%

    Genel 50% Op.

    Petrosoma 16% PSC-B Chinguetti

    Sterling ~ 9% E.I.

    Petronas 47.38%

    Op.

    M&A focus

  • 6

    www.sterlingenergyplc.com

    2016 2017 2018 2019

    Country Asset H2 H1 H2 H1 H2 H1

    Growth / M&A projects

    Somaliland

    (Frontier)

    Odewayne

    (34%*) 2013 entry 2D Seismic and well costs

    fully carried

    Mauritania

    (Producing)

    Chinguetti

    (ca.9.5%) 2004 entry Decommissioning

    Activity Timeline

    Focus on transformative growth

    Note: Company estimates

    Regional studies

    Due diligence & execution

    1,000

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