ADX ENERGY ACIVITY SNAPSHOT APRIL 2012 Paul Fink, Technical Director

DISCLAIMER This presentation contains forward looking statements that are subject to risk factors associated with the oil and gas industry. It is believed that the expectations reflected in these statements are reasonable, but they may be effected by a variety of variables which could cause actual results or trends to differ materially, including but not limited to: price fluctuations, actual demand, currency fluctuations, drilling and production results, commercialization, development progress, operating results, reserve estimates, loss of market, industry competition, environmental risks, physical risks, legislative, fiscal and regulatory developments, economic and financial markets conditions in various countries, approvals and cost estimates.

ADX ENERGY: Started in late 2007 Geographic focus Energy exploration focused on North Africa, Mediterranean and Central Europe Gold & Base Metals (via Riedel Resources) in Australia Shares on Issue411 million Maket 10 cents41.1$ million Options *31million * exercise price between 25 to 40 cents ASX ticker: ADX

SHAREHOLDER PERCENTAGE Top 5 Shareholders 1.JP Morgan A R Childs2.9 3.HSBC2.5 4.Runyon Pty Ltd2.1 5.Vasse Group2.0 Top Management 14.0 Financial Institutions 34.2

EUROPEAN – NORTH AFRICAN ASSETS SICILY CHANNEL – OFFSHORE: ITALY & TUNISIA (5,000 sqkm) ONSHORE TUNISIA ONSHORE ROMANIA Vienna

MILESTONES SINCE START IN LATE 2007 ADX executed a +$60 million exploration program with only $12 million of shareholder funds. Acquire high quality assets in countries with excellent & stable fiscal regimes First Geostreamer 3D seismic acquired First ever Tunisian deepwater well drilled incident free gas discovery Offshore 2D seismic Onshore well drilled oil discovery 3D Seismic, 2010 ADX operated, PGS boat Offshore Sicily ADX rig Offshore Sicily ADX rig Onshore Tunisia ADX rig Onshore Romania (ADX license, Petrom facilty)

HOW DID WE DO - AND FUND IT? PART1/2 Directors Ian TchacosNon executive Chairman Wolfgang ZimmerManaging Director Paul FinkExecutive Director Andrew ChildsNon executive Director Company Secretary Peter Ironside ………EXPERIENCED & PROVEN MANAGEMENT TEAM

HOW DID WE DO - AND FUND IT? PART2/2 ……ADX COMPETENT OPERATOR – GOOD ASSETS – GOOD JV PARTNERS (E&P companies)

ADX ENERGY – NEAR TERM ACTIVITY MAP TUNISIA – ONSHORE CHORBANE: TEST SIDI DHAHER OIL DISCOVERY START APPRAISAL & DEVELOPMENT ROMANIA- ONSHORE: FARM OUT PARTA TO FUND SEISMIC & WELLS, START 3D AND 2D SEISMIC IN Q2 – Q GROW ASSET BASE SICILY CHANNEL – OFFSHORE: DOUGGA RESOURCE UPGRADE FARM OUT EFFORTS TO START SOON TO: FUND LAMBOUKA RE-ENTRY & DEEP POTENTIAL FUND DOUGGA APPRAISAL FUND EXPLORATION ACTIVITY

ENERGY ASSET SELECTED EXAMPLES Paul Fink, Technical Director

Sidi Dhaher Test TOP EIGHT EXPLORATION & APPRAISAL PROJECTS Lambouka Appraisal 3D Dougga Appraisal 3D Dougga –West 3D CHS Saint M 3D..to be acquired Mean Resources Size Low risk Medium risk Kerkouane-1 Appraisal Lambouka Deep 3D Gas condensate Oil Gas

Tunisia Jasmine revolution and uprising in neighboring Libya caused several weeks of delay. Completed a safe and timely drilling operation during a time of partial power vacuum. Developed a relationship of mutual trust with the local population. ADX was the only company drilling in a populated area at the time. Other operators declared force majeure. Sidi Dhaher TD ed at 2,011 meters in the 3 rd week of September. SIDI DHAHER DRILLING SUCCESSFUL DRILLING OPERATION

Three Cretaceous reservoirs pre drill (Abiod, Douleb, Bireno) Oil found in Bireno reservoir, others absent SIDI DHAHER DRILLING Risk CategoryP90P50MeanP10 STOIIP [mmbbls] MDT Oil sample Formation Water gradient Oil gradient Oil in place resource estimates, recovery factor to be determined post well test SIDI DHAHER OIL RESOURCE POTENTIAL

OFFSHORE ITALY & TUNISIA 15 Dougga - West Elissa Kerkouane-1 Lambouka Total ADX permit areas approx. 5,000 sqkm (1,23 MM acres) Combined most likely contingent and prospective resources: 1.15 billion barrels of oil equivalent.

VISION : THE DOUGGA HUB

DOUGGA GAS CONDENSATE FIELD RESOURCES

PRODUCTION FORECAST (TRACS, COOL ENERGY) 50 mmscf/d sales gas (base case) 9,400 bopd condensate production 3,200 bopd LPG production project NPV (10) 1.6 Billion USD (ADX share currently 60%) 50 mmscf/d sales gas (base case) 9,400 bopd condensate production 3,200 bopd LPG production project NPV (10) 1.6 Billion USD (ADX share currently 60%) Dougga total daily production: 22,000 boepd (Austrias OMV total production in Pakistan, Yemen, Kurdistan, Kazakhstan: 27,000 boepd) (source: OMV annual report 2010)

DEVELOPMENT PLAN & CASH FLOW Sources: Offshore, Petrofilm, BG Hannibal Gas Plant, Sfax, Tunisia Discounted (10%) Project Cash Flow project NPV (10): 1.6 Billion USD (ADX share currently 60%) Revenue at todays oil & gas prices: 8.3 Billion USD

KEY STRATEGIES Corporate Strategy Early entry to high impact exploration opportunities in proven oil and gas basins. Commercialisation of existing discoveries. Operating Strategy Maintain operatorship through the exploration - appraisal phase of the asset cycle. Use leading edge technology to reduce risk Funding Strategy Fund drilling via farmouts, retain large interests in material prospects with potential to deliver exceptional shareholder returns.

NEAR – MID TERM NEWS FLOW Test Results of Sidi Dhaher oil discovery: fast track production Farm out parts of Offshore Sicily to fund appraisal of Dougga, Lambouka Farm out parts of Romania to fund seismic and first well Dougga Appraisal & Well Test