Strictly private & confidential

Presentation to the TGCCC

8th May 2006

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STRICTLY PRIVATE & CONFIDENTIAL

Axiom Energy

Axiom Energy Limited - an Australian energy business focussed on producing renewable

fuels and other environmentally enhancing energy products for local and global markets

Headquartered in Melbourne – Axiom Energy is currently driving a fuel project to become the

Largest producer of biodiesel in Victoria using renewable plant oils and animal fats

Axiom Energy’s entry into the Australian market place is in response to the global growing

need for renewable and sustainable energy sources

Geelong – Victoria’s largest biodiesel producer

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STRICTLY PRIVATE & CONFIDENTIAL

Geelong – Victoria’s largest biodiesel producer

Axiom Energy to establish first biodiesel facility in Geelong

Geelong – City of Choice

Port meets Axiom Energy’s project criteria

City’s pro-development strategy and Port’s long-term growth strategy to attract progressive companies

The City’s focus on sustainable economic growth is consistent with Axiom Energy’s vision

Streamlined ship-to-shore interface, leading-edge facilities, direct access to major shipping lanes

Established infrastructure and transport links delivers cost benefits and efficiencies to port users

Ample land available for port-related development

An available multi-skilled workforce

The City and Port precinct are recognised gateways to regional Victoria

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$50 million investment in City of Geelong

150 million litre facility – will be the largest biodiesel facility in Victoria

Will meet 43% of Australian Government’s biofuels target

Overall benefits to City of Geelong

Generate 20 direct full-time jobs and 20 indirect jobs

A boost for the regional economy – and is further evidence of the importance of the Port

to the City of Geelong and State of Victoria

An average 16 ship visits a year – latest Economic Impact Study reveals 1 visit = 2.6 full

time equivalents and $604,000 of economic output

The facility will be the largest of its kind in Victoria – and environmentally friendly!

Proven biodiesel production technology

The facility will produce more than 150 million litres of biodiesel (a renewable energy

source) a year – and be a focal point for local distribution

Provides green credentials for Victoria’s largest regional city

Industry Overview

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Biodiesel

Definition

Biodiesel is a clean burning renewable fuel derived from plant and animal oils and fats

World Market

Size of the worldwide diesel market > 1,100 billion litres and growing

Biodiesel is one of the most widely used and reliable renewable fuels in the world

EU Biofuels Directives - 2% by 2005 and 5.75% by 2010.

Australian Market

Size of Australian diesel market > 14.5 billion litres

Comprehensive package of Government support

The Cleaner Fuels Grant Scheme – gives Excise relief to biodiesel producers

The Biofuels Action Plan – target of 350 million litres of biofuels by 2010

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Environmental Benefits of Biodiesel

The exhaust emissions of hydrocarbons in Biodiesel are 67% less than emissions from

petroleum diesel.

Sulphur oxides and sulphates (major components of acid rain) are essentially eliminated in

Biodiesel compared to petroleum diesel.

The exhaust emissions of carbon monoxide in Biodiesel are 48% less than emissions from

petroleum diesel.

The exhaust emissions of carbon dioxide in Biodiesel are 78% less than emissions from

petroleum diesel.

Biodiesel has a positive energy balance. For every unit of energy needed to produce a litre of

Biodiesel, 3.24 units of energy are gained.

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STRICTLY PRIVATE & CONFIDENTIAL

Biodiesel Technology

Innovative and efficient Biodiesel Process Facility

Axiom’s facility will incorporate technology to capture emissions and recycle them into the

Biodiesel process.

Our Biodiesel facility will have virtually zero atmospheric emissions.

Proven technology

Comply with all EPA and Regulatory Standards.

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Biodiesel Process

Vegetable Oil/Animal Fats

Base Catalyst

Alcohol

Reaction Vessel

Biodiesel

Glycerin

Supply Agreement

Palm Oil – Cargill

Technology Agreement

Safer Energy Group

Distribution Agreement

Biodiesel - Emogin Pty Ltd

Board of Directors

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Board of Directors

Independent Non-Executive Chairman – Ralph Pliner

Corporate and Securities partner of Baker & McKenzie from 1983 - 2004

Extensive legal experience in energy, resources and utilities industries

Experience in mergers and acquisitions, capital raisings and public companies

Non-Executive Director – Julian Vear

Operational and financial experience in energy and resource sector

Past Chairman BP Solar Energy Australia

30 years at BP culminating in Exec Director Finance and CFO for BP Australasia.

Non-Executive Director – Jerry Adams

Internationally experienced corporate executive – USA and Asia

Past Managing Director of Orica Consumer Products

Non Executive Director – Myer Herszberg

Extensive Australian corporate experience

Founder and Director of Infomedia Ltd since 1992.

Experience in Audit & Risk Management and Corporate Governance

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Board of Directors

Managing Director – Danny Goldman

Experienced corporate executive with extensive operational and financial experience

Past General Manager and other senior executive positions at Coles Myer Ltd

Past Chief Financial Officer and Company Secretary with Country Road Ltd

Technical Director - David Vinson

Extensive experience in the biofuels industry, both in Australia and internationally

Past General Manager with the Victor Smorgon Group and VSP Industries

Holds a Bachelor of Science in Chemical Engineering

Director of Corporate Development - Michael Reiner

Co-founder of Axiom Energy Ltd

Experience in the Vegetable Oils and Fats industry