Queensland LNG Presentation

ENERGY WORLDENERGY WORLD

Queensland LNG 15 February 2010

Presentation by Mr. Stewart ElliottManaging Director and CEO, Energy World Corp.

AUSTRALIAN GASFIELDS

Delivering Clean and Green Energy

Disclaimer

• These materials have been prepared by Energy World Group (the "Company") solely for information use during this presentation. These materials may not be copied, reproduced, passed on or redistributed, directly or indirectly, to any other person (whether within or outside your organization/firm) or published, in whole or in part, for any purpose

• The information contained in these materials has not been independently verified. These materials have been prepared without taking into account the recipient’s investment objectives, financial situation or particular needs. No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained herein. It is not the intention to provide, and you may not rely on these materials as providing, a complete or comprehensive analysis of the Company's financial or trading position or prospects. The information and opinions in these materials are provided as at the date of this presentation and are subject to change without notice and will not be updated to reflect material developments which may occur after the date of this presentation. None of the Company, nor any of their respective affiliates, nor any of their respective directors, officers, agents, employees, advisers or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of these materials or their contents or otherwise arising in connection with these materials.

• These materials contain statements that reflect the Company's current beliefs and expectations about the future as of the respective dates indicated herein. These forward-looking statements are based on a number of assumptions about the Company's operations and factors beyond the Company's control and are subject to significant risks and uncertainties, and, accordingly, actual results may differ materially from these forward-looking statements. In furnishing these materials, the Company undertakes no obligation to provide the recipient with access to any additional information. The Company reserves the right, without giving reasons, at any time to revise, supplement or withdraw these materials provided to the recipient and to terminate discussions with any or all of the recipients.

• These materials do not constitute and should not be construed as an offer to sell or issue or an invitation or solicitation of an offer to purchase or subscribe for any securities of the Company in any jurisdiction or an inducement to enter into investment activity. No part of these materials, nor the fact of their distribution, shall form the basis of or be relied upon in connection with any contract, commitment or investment decision whatsoever.

Introduction

Since our presentation last year the LNG industry has experienced some challenging factors:

1. Tight financing for early developments of gasfields and LNG sites2. Slump in the gas prices for both the Henry Hub and the Asian markets3. LNG projects delayed4. Rising cost of developing CSG5. LNG supply contracts cancelled or re-negotiated

However, Energy World still believes that the future of LNG in Asia is very positive there is a considerable demand for LNG in Indonesia, the Philippines, Sri Lanka, Japan, Korea and China.

- Demand for LNG in:

ó Indonesia 6.8 MTPAó Philippines 3.4 MTPAó Sri Lanka 2.0 MTPA

Total: 12.2 MTPA

Japan, Korea and China also require extra LNG.

Introduction (Con’t)To service this new market, it must be developed at “both ends”, supply, production and the receiving terminals and distribution for the new LNG. We believe at the moment, insufficient attention is being given to the receiving terminals and distribution for delivering of gas to the Asian markets.

Energy World, along with its technology and equipment supply strategic alliance partner, Chart, is working at “both ends” to develop the infrastructure to facilitate these new and exciting markets.

LNG / PRODUCTION AND EXPORT FACILITIES

1. Australia - work is continuing on the Queensland Abbot Point export terminal and gas highway.

2. We are also going to build the Gilmore LNG plant3. Indonesia – works continue on the LNG terminal and power plant expansion4. Papua New Guinea – works continue on the LNG export terminal and pipelines5. Development work is also continuing on the shipping and the floating LNG plant

LNG – IMPORT RECEIVING TERMINALS AND DISTRIBUTION

1. Indonesia - Receiving terminals for domestic gas2. Philippines - LNG import / power generation / city gas / vehicle fuel3. Sri Lanka – LNG import / power generation / city gas / vehicle fuel

Section 1: Plan, Vision and Strategy

Business Opportunity - LNG

Clean and Green Energy

• Increasing concern over “global warming” has led to pollution and emission caps, reduction goals and carbon trading

• Natural gas is a cleaner and more efficient fossil fuel

- For an equivalent amount of heat, burning natural gas produces approximately 45% less carbon dioxide than burning coal, and approximately 30% less than burning fuel oil

• We use the more efficient combined cycle gas turbine technology in our Sengkang Power Plant

• Our Expansion Project and possible further expansion includes the latest generation of gas turbine technology

• Our Sengkang LNG Project will use the latest electric drive compression technology, providing substantial energy efficiency

Environmentally Friendly Operation with

Substantial Energy Efficiency

LNG is considered to be

a source of Clean Energy

We will continue to focus on efficient and clean energy generationü

Our Target

To become a leader in modular LNG development and a significant supplier of natural gas to Asian markets

Abbot PointTerminal

400MW Power Station

Sengkang2-5MTPA LNG Terminal

SulawesiJakarta

PagbilaoHub Terminal

300MW Power Station

Manila

COOPER COOPER BASINBASIN

Papua New Guinea2-5MTPA LNG Terminal

andDeep Water Port

Sri Lanka600MW

Power StationLNG Hub

Introduction - Asia’s Appetite for EnergykWh

Chart showing

kilowatt hour consumption

per capita.

Source data:NationMaster

Energy Statistics

Energy World Group has always positioned itself to take advantage of Asia’s appetite for energy. There is a strong link between the consumption of electricity (kWh per capita) and the development level and quality of life of

a country.

Energy World Group is working to provide energy to Asian countries by developing standard modular LNG

production trains and by investing in LNG receiving terminals and Gas fired

power generation.

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31664797

56425699

62067029

739180728170

893711193

13351

0 2000 4000 6000 8000 10000 12000 14000 16000

Myanmar:Bangldesh:

Sri Lanka:Pakistan:

Papua New Guinea:India:

Indonesia:Vietnam:

Philippines:North Korea:

China:Thailand:Malaysia:

Malta:Russia:

Hong Kong:United Kingdom:

Germany:South Korea:

Japan:Singapore:

New Zealand:Australia:

United States:

Section 2: Business

LNG Operations

Development of Modular LNG

Energy World Group developed Australia’s

first domestic LNG plant over 18 years ago (Alice

Springs LNG Facility) and pioneered the

transportation of LNG by road

Energy World Group decided LNG was the

best way to supply Asia’s growing energy demands and protect

the environment

Energy World Group approached liquefaction

equipment makers asking for their

standard equipment –when standard

equipment does not exist

Energy World Group ordered a FEED Study to design a standard

modular ½ MTPA liquefaction train using standard pipeline gas

Cold Box1Brazed Aluminum Heat Exchanger2Compression3

Air Cooled Heat Exchanger4Pre-Treatment5LNG Storage Tank6

12

34

5

6

Teaming Up with Industry Leaders on Modular LNG

SIEMENSCHART

Energy World Group has brought together distinguished global players and strong partners such as Chart and Siemens to develop an efficient, electric drive modular LNG system that

can be used in a variety of locations.

qInvestor, Developer & Operator

qCivil and Process Engineering

qLNG Tank Construction

qCivil Works

qOperation and Maintenance

qLNG Process Provider

qCold Boxes

qGas Treatment (By TDE)

qLiquefaction BOP

qElectrical and Rotating equipment

qElectrical BOP

Other Consultants and Suppliers:

CH.IV International – LNG SpecialistsArup – Civil Engineering

Woodfield – Loading ArmsPenspen – Pipeline routes and design

University of Southampton – Cryogenic Materials Testing

ENERGY WORLDGROUP

Development of Modular LNGE-LNG allows for a simple, elegant Liquefaction

setup with a relatively small footprint.

Through innovative design, Energy World Group has downsized typical LNG train sizes – we are moving from the grandfather clock to the pocket

watch.

By using a standard design, more and more components can be shop fabricated allowing for

better quality, cost effectiveness and reduced installation time.

Development of Modular LNG

Cold Box and Compressor

Final Gas Clean Up

Significantly lower capital cost requirement (easier financing) with faster construction and faster LNG to market (earlier revenue stream during development of gas field)

Standardized, "off the shelf" design, proven technology, minimal (re)engineering

Flexibility to incorporate additional modular LNG trains to add capacity to an LNG facility to suit the particular characteristics of a given gas field (deferred investment)

Plant can be dismantled and relocated when a gas field is depleted (reduced investment risk)

Ability to exploit stranded gas fields that are not considered commercially viable for conventional baseload LNG facilities

üüüüüüüü

Less complex design means simpler plant operation, improved turndown capability and lower maintenance downtime with multiple production modules

Maximized shop fabrication, minimized field construction, "plug and play" concept

Modular approach is suitable for both onshore and offshore applications

Benefits of Modular LNG

The LNG Storage Tank

Energy World Group has secured a License from GTT – Gaztransport & Technigaz to use its LNG tank technology for land based membrane tanks

§Energy agencies are forecasting significant increases in natural gas demand during the next 20 years.

§The largest increments in future gas use are expected to be in the developing countries.

§In the last two decades, LNG demand has experienced 7.7% annual growth.

§World demand for natural gas has grown about 2.6 percent a year over the last decade, but in Asia, the Middle East, Latin America and Africa it has averaged 7 percent over the same period.

LNG Storage Tank Membrane LiningLNG Storage Tank Membrane Lining

GST® ContainmentStainless steel corrugated membrane

Primary Barrier

A composite laminated material

Secondary BarrierReinforced polyurethane foam

Concrete wall covered with a moisture barrier

Plywood

Reinforced polyurethane foam

Plywood

Mastic

Insulating panel

GST® Containment

LNG Tank ConstructionLNG Tank Construction

LNG Tank Construction SequenceLNG Tank Construction Sequence

Pipeline / Pumps Installation

Slipform in ProgressSlipform AssemblingFoundation

Installation of GTT Membrane / Insulation System and

Suspended Ceiling

Air Lift of Roof in Progress

Site Formation

Slipform Completed and Roof Erection

Roof Structure

Air Lift

Air Lift

LNG Tank Family

Our LNG ProjectsAustralia – Abbot Point LNG Project

Proposed Development of Harbour Port, Power Station, LNG Production and Load Out Facilities at Abbot Point

A U S T R A L I A

Our LNG ProjectsAustralia – Abbot Point LNG Project

Unlocking Queensland Gas AssetsAustralia

Queensland• Port of Abbot Point• Existing deep-water coal export terminal

Location

Abbot Point LNG Project

• An opportunity for many smaller gas exploration companies in Queensland to gain access to export facility and a wider market

Community Opportunity

• Production from the Abbot Point LNG Project is planned to commence in about 3 yearsTiming

Initial Phase

A LNG facility with 4 modular 500,000 MTPA trains, LNG storage tank, and export facilities US$500 million

A 350 km gas pipeline to connect the two LNG facilities to Bowen Basin and Surat Basin US$388 million

Development Plan Capex Projection

Later PhaseA 550 km gas pipeline to connect the Gilmore and Eromanga gas fields to the initial phase pipeline

US$612 million

Potential Opportunity

Coal bed methane and underground coal gasification from our Eromanga Gas Field To be determined

Abbot Point LNG Facility

Proposed Queensland

Gas Highway

Our Proposed LNG Plant and Power Station

Abbot Point Proposed LNG Plant & Power Station:§Initial capacity 2 MTPA§Future expansion to 5 MTPA§Gas supply from EWC owned and operated gas fields via the Qld Gas Highway

Proposed Qld. Gas Highway

ProposedPower Station

ProposedLNG Plant

ProposedLNG Jetty Water

Depth 13 M+

Abbot Point – Queensland’s Chosen Gas PortProposed Multi Cargo Facilities

One of the stated objectives of the Plan for development of the Port of Abbot Point is to provide export opportunities for Queensland Products, and the following statement, under the heading “Methane Gas”, has been included.

“The Bowen Basin contains large amounts of coal seam methane which is an alternative source of clean energy. The reserves are potentially larger than the natural gas fields of the north-west shell off Western Australia.Exploitation of the methane gas may provide another export opportunity for the Port of Abbot Point. The gas from the Bowen Basin could be transported to Abbot Point by pipeline and stored at the port prior to export. Port facilities at Abbot Point are isolated from urban development and a sufficient buffer zone exists to provide for safe storage and handling of the gas.

Our LNG ProjectsAustralia – Abbot Point: “Queensland’s Chosen Gas Port”

Australia – Other Gas and Oil Interests Southern Cooper Project (PEL 96)

• PEL obtained 13 May 2009Production Status

• Strike Oil LimitedEWC portion 2.50 - 6.50 TCF

Operating Party

• Being determinedFuture Investment Obligation

• Gas potential of 8 – 20 TCFGas / Oil

• 33.3%Percentage Interest of EWC

PEL 96(Block K)

• Drill rig is being secured to commence the three hole drilling program designed to start the evaluation of the CSG potential of the Southern Cooper Project from January 2010

Status

Southern Cooper Project (PEL 96) Location – Epic Energy’s Moomba to Adelaide Gas Pipeline Traverses the Permit

Source: Strike Oil Limited

Q U E E N S L A N D

S O U T HA U S T R A L I A

N E W S O U T H W A L E S

N O R T H E R NT E R R I T O R Y

Proposed Markets

• The Gilmore LNG facility will be a major link in our aggressive development program for Australia. primarilary focused on the Eastern States including the Northern Territory and South Australia.

• We propose to develop the market in three phases.

• LNG Plants :Gilmore, Alice Springs, PL 96

• Phase 1:Off Grid Power GenerationMine SitesRemote Communities

• Phase 2:Long Haul Vehicle FuelMine Site Vehicle Fuels

GilmoreAlice Springs

PEL 96N E W S O U T H

W A L E S

Our LNG ProjectsAustralia – Gilmore LNG Facility

Taking The Mystery Out of LNG Fueling

Permanent LNG/LCNG Station

Quad 15,000 Gallon Vertical Tanks

On-Board LNG Vehicle Tanks

How The Tank Works

LNG Virtual Pipeline

Australia:“Double-

Trailers” with LNG fueled

trucks

Intermodal Transport with ISO Containers

Rail Transport

Rail Transport

LNG Satellite Storage

LNG Buses Fueling Station - China

Our Indonesian Projects

ENERGY WORLDGROUP

ENERGY WORLDGROUP

Indonesian Projects

EWC Indonesia Projects

The Sengkang PSC Block is located in the province of South Sulawesi. The PSC is operated by Energy Equity Epic Sengkang (“EEES”) which is 100% owned by EWC.

Gas from the PSC is supplied to the Sengkang Power Station (195MW – under expansion to 315MW) IPP; PT Energi Sengkang (“PTES”) which is owned 95% by EWC.

EEES is planning to develop the PSC to its full potential in order to supply LNG to Domestic Market in Indonesia (up to 5 MTPA).

Our Gas and LNG ProjectsIndonesia – Sengkang GasfieldProduction Sharing Contract (PSC)

Our Power Plant ProjectIndonesia – Sengkang Power Plant Expansion

195MW capacity is currently operational after the first 60MW expansion unit was commissioned in November 2008.

Additional 60MW gas turbine and 60MW steam turbine are expected to become operational by December 2010 and December 2011 respectively.

The existing 195MW plant has a great reliability history with high availability factors consistently above the agreed level of 85% in the PPA, and increasing capacity factors from increasing power generation and utilization.

Approval has been given by PLN and Minister of Energy and Natural Resources of PT Energi Sengkang (“PTES”) as the owner and operator of the 195MW Combined Cycle Power Plant located in Patila, for 120MW expansion in 2008.

Our Gas and LNG ProjectsIndonesia – Sengkang Drilling Rig on siteWell Workovers and Production Gas Well Drilling, August 2009

Assessment of Potential Resources from Prospects and Leads Hydrocarbon Resource Estimates Not Risk Adjusted

SENGKANG BLOCK GRAND TOTAL

An assessment, from prospects and leads, of the potential Hydrocarbon resources in the Sengkang field indicates reserves could total 5-7 TCF of natural gas. This gas reserve will provide 5-7 million tons of LNG per year, for 20 years.


Development Strategy:

To fully develop the potential of the Sengkang PSC, three phases of expansion, drilling and exploration.

Phase I will fully develop the potential for the Kampung Baru Field – providing a secure supply of gas to the Sengkang Power Station

Phase II will develop the discovered but non producing fields. This should provide between 300BCF and 500 BCF of gas.

Phase III will explore and develop the reminder of the PSC and will prove up the full potential of between 3 and 5 TCF of gas.


Our Gas and LNG ProjectsIndonesia – Plan of Development (POD)

PLAN OF DEVELOPMENT (POD)

BPMigas has requested the additional information which is now being prepared for submission

Our LNG ProjectsIndonesia – Sengkang LNG Project

Sengkang2-5MTPA

LNG Terminal

LNG LoadingTerminal

LNG Plant Site

Power Plant

Power StationFor LNG Plants

CPPKampung Baru

Walanga02

Bongo01

SENGKANG

Our LNG ProjectsIndonesia – Sengkang LNG Project

South Sulawesi LNG:§ Site acquired§ Major equipment being shipped

Our LNG ProjectsIndonesia – Sengkang LNG Project – Final Gas Clean Up

Electric Motor Drive Gear

Box Compressor

Our LNG ProjectsIndonesia – Sengkang LNG Project – MRC Compression

Our LNG ProjectsIndonesia – Sengkang LNG Project – Liquefier Cold Box Module

Our LNG ProjectsIndonesia – Sengkang LNG Project – Air Cooled Heat Exchangers

Our LNG ProjectsIndonesia – Sengkang LNG Project – Vacuum Insulated Pipe

Our LNG ProjectsIndonesia – Sengkang LNG Project – LNG Marine Loading Arms

Our LNG ProjectsIndonesia – Sengkang LNG Project – Control & Instrumentation

Siemens – Factory Acceptance Test (FAT) for Sengkang LNG Direct Control System (DCS)

Our LNG Projects Indonesia – Sengkang LNG Project – Site Formation Works

Our LNG ProjectsPapua New Guinea – Development Projects in Gulf Province

Gulf Province

Proposed Developments of LNG Terminal, Petroleum Refinery, Deep Water Port, Cement Plant, Housing and Industrial Estates

Our LNG ProjectsPapua New Guinea – Development Projects in Gulf Province

EWC - ProposalLNG Terminal

EWI - Deep Water Port

EWI - Petroleum Refinery

EWI - Power Station

Gulf Province

Papua New Guinea

B

A

D

C

Proposed PipelineLandA : 80 KmB : 105 Km

Total : 185 Km

SeaC : 95 KmD : 55 Km

Total : 150 Km

Gross Pipeline : 335 Km

Our LNG Projects Papua New Guinea – Gulf Province LNG Project – Signing Agreement In Conjunction with Energy World International Limited

• Natural gas supply pipeline• 2 - 5 MTPA LNG production facility• LNG Terminal will be developed in

conjunction with a deep water port and power station, and an industrial petroleum complex

Gulf Province Developments:

Hon. Havila Kavo M.P. – Governor of Gulf ProvinceSigning the Partnership Agreement

Future Partners: The Governor of Gulf Province, Hon. Havila Kavo M.P.

Energy World Group CEO, Mr. Stewart Elliott

Our LNG ProjectsPapua New Guinea – Western Province LNG Project

• Initial capacity 2 MTPA• Future expansion to 5 MTPA• LNG Terminal will be developed in

conjunction with a deep water port and power station.

Parama Island LNG:

Our Philippines Projects

Kanan B1 Hydro Electric Project

Phase I – 145MWPhase II – 70MW

Kanan 200MW Wind Farm Project

Business Opportunity in the Philippines

Our LNG ProjectsThe Philippines – LNG Hub Terminal and Power Station

PHILIPPINES

PagbilaoHub Terminal

First LNG Terminal with 3 x 100 MW Combined

Cycle Gas Turbine Power Station

Pagbilao LNG Terminal:

§Terminal will act as a hub for onward distribution of LNG throughout the Philippines§Energy World Group will develop a

CCGT power station at this site

Our LNG ProjectsThe Philippines – LNG Hub Terminal and Power Station

QUEZON PROVINCE DEVELOPMENTSQUEZON PROVINCE DEVELOPMENTS

ENERGY WORLD GROUP

FERRYFERRY PASSENGER PASSENGER TERMINALTERMINAL

300300MW GAS FIRED MW GAS FIRED POWER STATIONPOWER STATION

LNG CARRIER VESSEL LNG CARRIER VESSEL

HOTEL AND RESORTHOTEL AND RESORT

HON. RAFFY P. NANTES HON. RAFFY P. NANTES GOVERNOR QUEZON GOVERNOR QUEZON

PROVINCEPROVINCE

DDELIVERING CLEAN ELIVERING CLEAN ENERGY FOR QUEZONENERGY FOR QUEZON

Our LNG ProjectsThe Philippines - LNG Hub Terminal and Power Station

From left to right: Former Gov. Eduardo Rodriguez, Gov. Rafael P. Nantes, Secretary of DOE, Provincial Government of Quezon – Mr. Angelo T. Reyes, MD of EW Group – Mr. Stewart Elliott

Our LNG ProjectsThe Philippines - LNG Hub Terminal and Power Station Ground Breaking Ceremony 28 August 2009

Our LNG ProjectsThe Philippines - LNG Hub Terminal Site Preparation

Other Projects in the PhilippinesKanan B1 Hydro Electric Project

FED

CBA

WINDFARM LOCATION (Phase 1)

Other Projects in the PhilippinesKanan Wind Farm Project

Our LNG ProjectsSri Lanka – Hambantota or Kerawalapitiya LNG Hub Terminal

Power Station

600MW Combined Cycle Gas Turbine Power Station (2 x 300MW)


• This terminal will act as a hub for onward distribution of LNG throughout Sri Lanka

• Energy World Group will develop a CCGT power station at this site

• Substantial development of this port is already underway

Hambantota or Kerawalapitiya LNG Hub Terminal:


Development of Floating Modular LNGLNG Storage Ship

3 Ship Solution for Floating LNG

Based on the standard Energy World Group LNG

ship – Energy World Group developed 3 ship solution for Floating LNG.

LNG Support Ship - Gas pretreatment and power generation is located on

the first ship.

LNG Liquefaction Ship -Liquefaction (2 x 500,000 TPA) trains the standard EWC module are located

on the second ship.

LNG Storage Ship -Storage is located on the

third ship.

ENERGY WORLDGROUP

Development of Floating Modular LNGGas Cleanup and Power Generation Ship

ENERGY WORLDGROUP

Development of Floating Modular LNGLNG Liquefaction Ship 2 x 500,000 TPA

ENERGY WORLDGROUP

Thank You!

15 Feb 2010

Documents

Queensland LNG Presentation