Terra Nova Presentation-Mar2015

CORPORATE PRESENTATION

TSX-V: TGC I OTCQX: TNVMF

2TERRA NOVA CORPORATE PRESENTATIONTSX-V : TGC | OTCQX: TNVMF

This presentation contains “forward-looking information” which may include,

but is not limited to, statements with respect to the future financial or

operating performance of Terra Nova Energy Ltd. (the “Company”). Often, but

not always, forward-looking information can be identified by the use of words

such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”,

“forecasts”, “intends”, “anticipates”, or “believes” or variations (including

negative variations) of such words and phrases, or statements that certain

actions, events or results “may”, “could”, “would”, “might” or “will” be taken,

occur or be achieved.

Forward-looking information involves known and unknown risks and

uncertainties that may cause the actual results, performance or achievements

of the Company to be materially different from any future results, performance

or achievements expressed or implied by the forward-looking information.

Such factors include, among others, general business, economic, competitive,

political and social uncertainties; the actual results of current exploration

and drilling activities; actual results of reclamation activities; changes in

labour costs or other exploration costs; conclusions of economic evaluations;

changes in project parameters as plans continue to be refined; future prices

of hydrocarbons; accidents, labour disputes and other risks of the oil and gas

exploration industry; delays in obtaining governmental approvals or financing

or in the completion of wells or integration with hydrocarbon collection

infrastructure; and other acts of God or unfavourable operating conditions

and losses; political instability, insurrection or war.

Forward looking information is based on a number of material factors and

assumptions, including the determination of reserves or resources, if any; the

results of exploration and drilling activities, the availability and final receipt

of required approval, licenses and permits; that sufficient working capital

is available to complete proposed exploration and drilling activities; that

contracted parties provide goods and/or services on the agreed time frames;

the equipment necessary for exploration is available as scheduled and does

not incur unforeseen break downs, that no labour shortages or delays are

incurred and that no unusual technical problems occur. While the Company

considers these assumptions may be reasonable based on information

currently available to it, they may prove to be incorrect. Actual results may

vary from such forward-looking information for a variety of reasons, including

but not limited to risks and uncertainties discussed above.

The Company intends to discuss in its quarterly and annual reports referred

to as the Company’s management’s discussion and analysis documents,

any events and circumstances that occurred during the period to which

such document relates that are reasonably likely to cause actual events or

circumstances to differ materially from those disclosed in this presentation.

New factors emerge from time to time, and it is not possible for management

to predict all of such factors and to assess in advance the impact of each

such factor on the Company’s business or the extent to which any factor,

or combination of factors, may cause actual results to differ materially from

those contained in any forward-looking information.

FORWARD LOOKING STATEMENTS

3TERRA NOVA CORPORATE PRESENTATION

TERRA NOVA’S MISSION

Focused on exploring for and developing low cost, high margin oil and gas opportunities in safe jurisdictions within the Pacific Rim Region to service its growing demand for energy


TERRA NOVA ENERGY LTD.

RECENTTRADING $.16

Closing Price(3/27/2015)

$.06 - $.2552 - Week Range

73kAvg. Daily Volume3 - Month

3 All information as of March 27, 2015 unless otherwise stated.

CAPITALSTRUCTURE

ENTERPRISEVALUE

87.5MillionShares Out

7.4MillionOptions Out

1.9MillionWarrants Out

$14MillionMarket Cap

$0MillionConvertible Debt

$3,085,000Cash as of 2/23/2015(Unaudited)

CORPORATE OVERVIEW: TSX-V: TGC | OTCQX: TNVMF


INVESTMENT HIGHLIGHTS

STRONG MANAGEMENTwith expertise in natural resource exploration development and financing as seen with the recent success of Pacific LNG

HIGH MARGIN CASH FLOWSgenerated in numerous recent western flank discoveries have had a return on investment of under one year

UNDER EXPLOREDflanks of the Cooper Basin are the prime focus of new oil and gas exploration

RIGHT LOCATION Central to Australia’s extensive pipeline infrastructure and in close proximity to Southeast Asian Markets


THE TERRA NOVA TEAM

HENRY ALDORFChairman + Chief Executive Officer

Mr. Aldorf has 37 years of experience in the petroleum and chemicals industry and is currently President of Pacific LNG Operations Ltd., which recently landed a deal with Oil Search Ltd. for $900M USD plus further contingent payments

MATT ANDERSONChief Financial Officer

Chartered Accountant and Senior Consultant with Malaspina Consultants Inc., a private company that provides financial services to public companies, previously the CFO of I-Minerals Inc., Search Minerals Inc. and Dynamic Oil & Gas Exploration Inc.

CHAS LANECountry Manager, Australia

Petroleum geologist, with 30 years experience in exploration and production operations around Australia including the discoveries and development of the Mirage, Growler and Snatcher Oilfields in Cooper/Eromanga Basin

NICO CIVELLIVP Finance + Director

Independent financial advisor who provides financial consultancy services by working closely with several leading European and North American asset managers, which specialize in the natural resources

ISTVAN GYORFIExploration Manager, Australia

Geophysicist and Reservior Engineer with extensive exploration experience and track record in discovering hydrocarbons. Most recently at Pacific Rubiales Corp. in Columbia and other companies including MOL, PDVSA and GDF Suez

TECHNICAL + CAPITAL MARKET EXPERIENCE

CARLO CIVELLISenior Advisor

Founder of Pacific LNG Operations Ltd. and Clarion Finance Pte. Ltd. with over 30 years of experience in the venture capital and natural resources sector, having financed at least a dozen early stage investments which developed into billion dollar market cap companies


WHY AUSTRALIA?

STRATEGIC LOCATIONIdeally situated to supply China, Japan and other Southeast Asian countries

POLITICAL STABILITYAustralia has the lowest risk of political instability in the region and 4th lowest in the worlds

BUSINESS FRIENDLYOf the 34 OECD countries, Australia has the fewest restrictions on product markets and least government ownership of business

GROWTH MARKET#1 ranked country to replicate unconventional oil success of the US with an estimated 1.7 trillion barrels of oil equivalent (BOE)1

1Lux Research Inc. January 14, 2014 Source: Government of South Australia, DMITRE

OIL AND GAS PIPELINE NETWORK


INCENTIVES AND LICENSING

ATTRACTIVE FISCAL TERMS• Federal Royalty 10%• Native Trust Royalty 1%• Corporate Tax Rate 30%

DATA ACCESSAll geological data available in the public domain after two years

PETROLEUM EXPLORATION LICENSEMaximum Area: 10,000 sq km per licenseInitial Term of Tenement: 5 yearsRelinquishment End of Term: 50%

Renewal Term: 5 years

PETROLEUM PRODUCTION LICENSEMaximum Area: 100 sq km per licenseInitial Term + 1st Renewal Term: N/A

Industry Respondent2013 Fraser Institute Global Petroleum Survey

Favourable fiscal terms, exploration is incentivized, regulations transparent. Ease of access to authorities and technical data. ”

“


THE COOPER+EROMANGA BASINS

COOPER BASIN OIL & GAS SUCCESS RATESJANUARY 2002 - DECEMBER 2013

NEW ENTRANTS (AFTER 2002)

Source: Government of South Australia, DMITRE

Source: Government of South Australia, DMITRE

AUSTRALIA’S MOST PROLIFIC ONSHORE PRODUCTION

LIGHT + SWEETOil recovered from the basin consists of light, sweet crude oil (>40 API) which receives premium pricing

100 OIL FIELDSand 200 gas fields discovered since the first commercial discovery in 1963

INFRASTRUCTURE5,600 km network of pipeline infrastructure connecting a central processing plant in the heart of the basin to 3 major seaports

ACTIVE AREAFour producers in the Cooper Basin, including industry leaders:

• Beach Energy • Drillsearch Energy • Senex Energy

COOPER BASIN OIL SUCCESS RATE

EXPLORATION WELLS DRILLED

COMMERCIAL SUCCESS RATE

TECHNICAL SUCCESS RATE

APPRAISAL AND DEVELEOPMENT WELL DRILLED

COMMERCIAL SUCCESS RATE

215 40% 46% 102 93%

OIL

DIS

COVE

RIES

OIL EXPLORATION WELLS

1978

2000

2013

OIL

PRI

CES

(US$

)

150

125

100

75

50

25

0

120

100

80

60

40

20

00 50 100 150 200 250 300 350 400 450 500 550 650


AUSTRALIAN ASSETS OVERVIEW

20.66% OWNERSHIPof two licenses located on western flank of Cooper/Eromanga Basins

Holloman Energy* 48.50%Perseville Investing Inc. 30.83%

3,444 SQ KMor 850,000 acresPEL 112 1,086 sq km (268k acres)PEL 444 2,358 sq km (582k acres)

UNDER EXPLORED6% of PEL 112 and PEL 444 have been shot with 3D seismic leaving a substantial exploration upside

*Current farm-in agreement with Holloman and Perseville: Holloman and Perseville are required to transfer an aggregate 5.83% to Terra Nova on both Petroleum Exploration Licenses (PELs) for each well drilled to a maximum ownership of 49.83%.

Perseville is not required to transfer its earning contribution to Terra Nova in the event that it pays its proportionate share of the drill costs. If Perseville elects to fund its share of all five wells, Terra Nova would obtain a 41.05% ownership.


PEL 444

SIXTEEN DRILL LOCATIONShave been recently identified by the reprocessed Wingman 3D seismic in the Birkhead, Hutton and Namur formations

LOCATIONLicense is geologically similar to the Charo and Snatcher oil fields located 21 km south of PEL 111

3D SEISMIC80 sq km of 3D seismic was acquired in July 2013 leading to the interpretation that the Jurassic Oil Fairway possibly extends into PEL 444

NEARBY SUCCESSSenex drilled 11 wells in the Snatcher oil fields which each produce 100 - 900 barrels of oil per day (Bopd)1

1 DMITRE and Senex Energy data; initial production rates


PEL 112

LOCATIONTargets on the license are similar geologically to the producing Butlers, Perlubie and Parsons oil fields located to the north

3D SEISMIC127 sq km of 3D seismic was acquired in August 2012 in addition to reprocessing 665 sq km of 2D seismic, which generated 40 drill targets

1,000 BARRELSPrinciple reservoir target is the Namur sandstone that can produce at rates in excess of 1000 barrels of oil per day

NEARBY SUCCESSProduction in Beach Energy’s Bauer oil field in PEL 91 near record high at 2.4 million BOE in Q1-FY2015

1Beach Energy, November 2014

ON TREND AREA PRODUCTION IN DISCOVERIES WITHIN THE PAST 10 YEARS

Butlers Oil Field (2009) 1 Mmbbls; 1,425 Bopd

Perlubie Oil Field (2009) 101,000 Bbls; 560 Bopd

Parsons Oil Field (2008) 1.7 Mmbbls; 2,775 Bopd

Source: Discovery Energy Corporation, 2012


- Field makes up 66% of Senex’s ($448 million mkt cap) total oil production*

- Field located 15 km south of the TGC’s Wingman 3D Seismic

0 2000 4000 6000

Scale = 1:136902

8000 10000 m

0 2000 4000 6000

Scale = 1:136902

8000 10000 m

0 2000 4000 6000

Scale = 1:136902

8000 10000 m

CHARO-SNATCHER PROVEN AREAS: Seismically Constrained + Well Control

Approximately 316 hectares - Estimated 19.8 MMBO Recoverable

WINGMAN CHANNELS SUMMED: Seismically Constrained Areas Similar to Charo-Snatcher

Approximately 1480 hectares

NEARBY SUCCESS - THE CHARO-SNATCHER OIL FIELDS

*Senex Energy Limited, Annual Report 2014

STRUCTURAL MAP OF 3D SURVEYS SHOWING SEISMICALLY MAPPABLE CHANNEL SYSTEMS


SEVEN GROUP HOLDINGS BUYS 13.8% OF BEACH ENERGY LTD.

RECENT DEVELOPMENTS

RECENT ACQUISITIONMedia group Seven Group Holdings has began actively acquiring Australian-focused petroleum oil and gas companies

On February 2, 2015, they secured a relevant interest of 13.79% in Beach Energy Limited (ASX: BPT), a major producer in the Cooper/Eromanga Basins

NEW ACQUISITION OF PEL 570 NEAR TERRA NOVA’S PEL 444 BLOCK

PEL 111

PEL 104

NEW ACCESS GRANTEDto New Standard Energy in one of the few remaining substantial acreage positions within the Cooper Basin

PROSPECTIVE POTENTIAL 2,400 sq km block on trend of a proven, producing petroleum system and pipeline infrastructure


INVESTMENT SUMMARY

STRONG MANAGEMENTwith expertise in natural resource exploration development and financing as seen with the recent success of Pacific LNG

HIGH MARGIN CASH FLOWSgenerated in numerous recent western flank discoveries have had a return on investment of under one year

UNDER EXPLOREDflanks of the Cooper Basin are the prime focus of new oil and gas exploration

RIGHT LOCATION Central to Australia’s extensive pipeline infrastructure and in close proximity to Southeast Asian Markets

Kip Ferguson , CEO of Magnum Hunter Resources

January 2014

Within 12 months, you’re not going to have the ability to find a deal, or find acreage, in the Cooper Basin. ”

“

SOUTH AUSTRALIA OIL AND GAS SALES

Source: Government of South Australia


CORPORATE HEAD OFFICE880 - 580 Hornby StVancouver, BC V6C 4B6Canada

INVESTOR RELATIONSTel: +1 604-200-1039E-mail: [email protected]

CORPORATE COUNCIL: Northwest Law GroupAUDITORS: KPMG

www.terranovaenergyltd.comTSX-V: TGC I OTCQX: TNVMF

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Terra Nova Presentation-Mar2015