FAST FACTS Proximity to several producing fields Exposure to prolific Macedon Sandstone Play 39-90 MMBO Resource Potential 3D seismic completed in Q1 2011 Processing completed during 2012 Mapping and QI studies continuing throughout 2013

* RPS independent estimate at September 2011

WA-399-P

The Permit covers an area of approximately 50km² and is located within a highly prospective sector of the Exmouth Sub-basin, being midway between the Pyrenees and Macedon oil and gas fields (25 kilometres to the north-west) and the Leatherback oil accumulation (30 kilometres to the south-east).

Rialto and Carnarvon Petroleum were awarded WA-399-P in 2007 and following a successful divestment campaign by Rialto, Apache was announced as the new Operator for the licence while Jacka Resources farmed in for a minority stake holding. The current Joint Venture comprises Apache Energy, the Operator, with 60% working interest, Rialto Energy (12%), Jacka Resources (15%), and Carnarvon Petroleum (13%).

On 1 March 2010, BHP Billiton and its co-venturer Apache Energy Ltd announced the commencement of First Oil production from the Pyrenees project in Retention Lease WA-12-R, directly adjacent to WA-399-P. The proximity of WA-399-P to this producing development, and the entry of Apache Energy to the WA-399-P Joint Venture, increases the confidence that any discoveries in WA-399-P can be commercialised quickly.

Forward Work Plan

As part of the farmin, Apache has completed 3D Seismic data acquisition and processing phase, maturing prospects for drilling in the 2013/2014 permit year. The 2012 well commitment has been postponed until the 2013/14 permit year due to new environmental protection approval processes that require significantly longer planning time. The 2102/13 committed work program comprises geological studies only. Drillable targets will be defined on the basis of the interpretation of the newly acquired 3D seismic data during Q1 and Q2 2013. Rialto will then make a decision about participating in any upcoming well.