Jadestone Energy (Australia) Pty Ltd

Level 24, 108 St Georges Terrace, Perth, Western Australia 6000

Telephone: +61 8 6557 8655 Website: www.jadestone-energy.com

(ABN 486 136 718 19)

Dear Stakeholder,

In mid-November Jadestone Energy completed the purchase of the Stag Field Production and Export Facility off the coast of Dampier, forming the Company’s beachhead in Australia.

The purpose of this letter and appended information package is to introduce you to Jadestone Energy, and to outline our intentions for the Stag asset.

Jadestone was formerly called Mitra Energy. Mitra Energy has offices throughout South East Asia and assets in Vietnam, the Philippines and Indonesia.

The Company is currently transitioning from being an explorer to a producer and asset developer. It is a model that senior Company management previously employed successfully at Talisman Energy.

Importantly, many of our staff in Australia previously worked for both Quadrant Energy and Apache, both former owners of the Stag asset. As a result, their technical knowledge of this particular field and its production infrastructure is without peer.

Stag is currently producing an average of more than 3,400 barrels per day. However, through the implementation of well workovers (currently underway) and proposed infill drilling in the next few years, Jadestone is confident that it can increase production and extend the field life.

Attached to this letter is an information package, which is part of the consultation process Jadestone requires to gain regulatory approval take over operatorship of the Stag asset. Until that process is complete, Quadrant will remain the operator of the asset on a contract basis.

We intend that this will be just the beginning of our engagement with you as we are committed to being transparent and inclusive of our stakeholders.

Since distribution of this material, Jadestone Energy (Australia) Pty Ltd has relocated to the following address: Level 6, 41 St Georges Terrace, Perth, Western Australia, 6000Email: info@jadestone-energy.com.au

JRDESTflnE ---EnERGY

In time I look forward to meeting you in person to discuss our plans for Stag and

Australian oil and gas. In the meantime if you have any questions of queries, please

don't hesitate to contact me.

Yours Faithfully

Mark Robertson

General Manager

Jadestone Energy (Australia) Pty Ltd

Level 24. l08 St Georges Terrace, Perth. Western Australia 6000

Telephone. +61 8 6557 8655 Websitff www.jadestone-energy com

(A13N4B6136718 l9)

Since distribution of this material, Jadestone Energy (Australia) Pty Ltd has relocated to the following address: Level 6, 41 St Georges Terrace, Perth, Western Australia, 6000Email: info@jadestone-energy.com.au

Stakeholder Consultation Package

Stag Facility (Commonwealth Waters, WA-15-L)

Jadestone Energy Australia Pty Ltd (Jadestone) has acquired the existing Stag Field Production and Export Facility and associated infrastructure including the Dampier Spirit Floating Storage and Offtake (FSO) tanker, located 60 km Northwest of Dampier in Commonwealth waters off the North West Shelf (NWS).

The Stag Facility has been in production since 1998, firstly under the operatorship of Apache Energy and then Quadrant Energy after the sale of a number of assets to Quadrant in June 2015. On taking ownership, Jadestone will continue to meet environmental and operational commitments consistent with previous ownership.

Stag is currently producing an average of more than 3,400 barrels per day.

Jadestone will address all operational, maintenance and workover activities under the newly developed Stag Facility Environment Plan (EP). The EP will be submitted to the National Offshore Petroleum Safety and Environmental Authority (NOPSEMA) and prepared in accordance with the Offshore Petroleum and Greenhouse Gas Storage Act 2006 (OPGSS Act).

About Jadestone Energy (Australia) Pty Ltd

Jadestone is engaged in exploration, appraisal and pre-development activities in South East Asia, with a portfolio of 10 exploration and pre-development assets. Jadestone is an active operator within the region and the company's principal focus is on assets in Australia, Indonesia, Vietnam and the Philippines.

Jadestone has an experienced management team with strong financial backing. The company prides itself on its technical excellence and has a team of more than twenty technical staff, all of whom have considerable experience. This robust technical core to the business underpins Jadestone’s ability to:

• operate safely• optimize production from existing assets• identify, capture and maximise the value of its portfolio of assets

The company recognises that local presence is essential to create, build and maintain partnerships in the region. To this end, Jadestone established its corporate headquarters and principal technical teams in Kuala Lumpur and Perth, with country operational offices in Jakarta and Ho Chi Minh City, plus representations in Singapore and Hanoi.

Jadestone is firmly committed to being a responsible corporate citizen. The company places safety, environmental and social responsibility considerations at the core of its business and operational decision-making.

Many of Jadestone’s staff in Perth worked for Quadrant so possess considerable knowledge of the Stag asset. They have been integral in:

• Developing the required procedures and protocols necessary for Jadestone toassume operatorship.

• Assessing the most technically robust plans to maximise production andextend the life of the asset.

Stag Facility Description

The Stag Facility is located in Exploration Permit WA-15-L. As shown in figures at the end of this document, the Stag Facility consists of:

• A fixed central production facility (CPF) in 49m of water which stands 20mabove the sea. It produces and processes oil from a series of wells;

• A single 2km long carbon steel export oil pipeline on the northeast side of theCPF connects to a Catenary Anchor Leg Mooring (CALM) buoy via a flexiblesubmarine hose;

• The Dampier Spirit FSO, from which oil is received through a flexible importhose from the CALM buoy and exported to trading tankers;

• Water injection flowlines and wells to assist reservoir fluid recovery;• Support and supply vessels, work vessels and tug boats supporting tanker

movement, facility logistics, maintenance and provisioning; and• Helicopter support.

There is an existing exclusion zone of 500 m radius around the CPF, CALM buoy, pipeline and FSO. Vessels operating within this zone must not exceed a speed of five knots. Additionally a cautionary area, as designated by AMSA, is charted 2.5 nautical miles around the Stag field.

The platform accommodation provides berthing and catering facilities for up to 58 personnel. Oil is presently produced from 12 production wells and seawater is injected into four wells.

Stag Facility details

Petroleum Permit WA-15-L Water depth 49 m Coordinates Latitude Longitude

CPF 20° 17’ 24.79” S 116° 16’ 30.99” E CALM Buoy 20° 16’ 23.7” S 116° 16’ 29.5” E

Anticipated worst case spill scenario Loss of well control, considered highly unlikely

Response tier required

In the unlikely event of a hydrocarbon spill caused by a loss of well control, a Tier 3 response would be

implemented as per the Stag Facility Oil Pollution Emergency Preparedness Plan arrangements described in

the Environment Plan. Nearest proximity to key regional features

Regional Feature Distance from Stag CPF Dampier 61.5 km Proposed Dampier Archipelago Marine Park 29.9 km Dampier CMR 58.3 km Montebello CMR 28.7 km Montebello Island Marine Park 64.3 km Nearest Montebello Island (Karangi Island) 71.8 km Barrow Island MMA 77.3 km Barrow Island MP 106.6 km Barrow Island 94.6 km Closest mainland point (near Maitland River) 57.6 km Port Hedland township 243 km Ningaloo World Heritage Area 241.0 km

Future activities

The Stag reservoir is shallow with high porosity and permeability that offers substantial potential to increase production through low cost field development activities, including well workovers and infill drilling.

Data has improved understanding of the reservoir highlighting potential field extensions that can add reserves.

Jadestone expects the field life is estimated up to 2024 with limited additional investment.

Consultation

This document has been prepared in line with Commonwealth regulatory consultation guidelines. When reviewing the information and maps provided, please consider how they may impact your interests as an individual stakeholder. Jadestone encourages you to seek additional information if required.

Jadestone commits to ongoing consultation with stakeholders upon request, or if the scope of work or risk to stakeholders change over the lifecycle of this activity.

Thank you for taking the time to review this document. Stakeholder feedback is valuable to our Company so please feel free to contact Jadestone Energy with any queries or concerns regarding the content of this document.

Similarly, if you do not wish to receive future communications from Jadestone Energy please advise in response to the contact details below.

Jadestone Energy (Australia) Pty Ltd L24, 108 St Georges Tce Perth, WA, 6000 Ph: +61 8 6557 8655 Email: info@jadestone-energy.com.au Website: www.jadestone-energy.com

Since distribution of this material, Jadestone Energy (Australia) Pty Ltd has relocated to the following address: Level 6, 41 St Georges Terrace, Perth, Western Australia, 6000Email: info@jadestone-energy.com.au

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Location Map

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0 5 10 15 20 25Kilometres

STAGLOCATION MAP

Facility Latitude LongitudeStag 20° 17' 24.789" S 116° 16' 30.989" E

Stag FSO 20° 16' 18.896" S 116° 16' 34.279" E

SCHEMATIC DIAGRAMSTAG FACILITIES

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Import hose(200mm)

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Legend!. Stag

State/Commonwealth Waters BoundaryMain Roads

Commonwealth Fishing ZonesNorth West Slope TrawlSkipjack Tuna (Western)Southern Bluefin Tuna Western Deepwater FisheryWestern Tuna and Billfish

Location Map

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COMMONWEALTH FISHING ZONES IN THE VICINITY OF STAG

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Legend!. S tag

S tate/Com m onw ealth Waters Bound aryMain Road sP earling S itesAquaculture LicencesS h ark Bay Crab Interim Managed FisheryFisheriesS h ark Bay S callop Lim ited Entry FisheryS h ark Bay P raw n Lim ited Entry FisheryWest Coast Roc k Lob ster Managed FisheryExm outh Gulf P raw n Managed FisheryGasc oyne Dem ersal S calefish Managed Fishery

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XW P earl Oyster Managed FisheryOnslow P raw n Managed FisheryKim b erley P raw n Managed Fish eryKim b erley Gillnet & Barram undi Managed Fishery

Pilbara Trap Managed FisheryOpen to TrapsClosed to Traps

Pilbara Fish Trawl Interim Managed FisheryZone 1Zone 2P roh ib ited Fishing Area

Broome Prawn Managed FisheryFishing AreaP roh ib ited Fishing Area

Nickol Bay Prawn Limited Entry FisheryFishery AreaNic k ol Bay NurseryExtended Nic k ol Bay NurseryDepuc h NurseryDe Grey River Nursery

Northern Demersal Scalefish Managed FisheryS c h edule 2 (Area1)S c h edule 2 (Area2)S c h edule 3 - P roh ib ited Fishing Area

Location Map

Stag

STATE FISHING ZONES IN THE VICINITY OF STAG

• Mac k erel Managed Fishery (Area 2 - P ilb ara & Area 3 - Gasc oyne/West Coast)• Bec h e-de-m er Fish ery• Marine Aquarium Fish Managed Fish ery• West Coast Deep S ea Crab (Interim ) Managed Fish ery (North of Cape Leeuw in & West of NT b order)• Octopus; and• S pecim en S h ell Managed Fish ery

Fisheries that extend to the 200 nm zone include:

Note : WA North Coast S h ark Fishery & Roe's Ab alone Fishery are Closed