November 2014

2014 AGM presentation Phil Thick, Managing Director

Contents

• Reflection on the past year

• Portfolio overview

• Market conditions

• Future proofing – prudent management

• Corporate growth strategy

• Eagle Ford overview

• Australian assets

• The year ahead

2

Components of 2013 AGM presentation

3

Executing on the plan as presented last year

Reflecting on a transformational year

4

Successful transition from explorer to developer & producer

November 2013

• Focussed on three Western

Australian exploration projects

• Ground floor equity positions (early

mover)

• High risk profile – potential for high

reward

• Attractive energy markets and

pricing, but long dated due to lack

of infrastructure and path to market

• New Standard operating all assets

• Seeking ways to leverage our

assets and skills to add value,

change our risk profile and add

nearer term opportunities to

complement the longer term

Canning and Carnarvon prospects

November 2014

• Diversified three tier portfolio with

exploration, development and production

assets

• Drilled and completed two wells, currently

drilling two more wells

• Average 550 BOEpd production for Sept

quarter 2014

• Refocused strategy and priority on growing

value of US Eagle Ford shale acreage, by

increasing production and reserves

• Enhanced debt facility to drive US operations

• Prime Cooper Basin acreage and

experienced JV partners

• Farm-out process for WA assets underway

• Strict ongoing management of capital

• Commenced trading in US on OTCQX

platform

Portfolio overview

5

Diversified and balanced risk profile

US Assets – Eagle Ford, Texas

5,585 net acres

Acreage located within the volatile oil/oil windows

Seven producing wells

Up to 100 additional well locations identified

South Australian Assets – Cooper Basin

17.5% equity position in PEL 570

Santos (operator) and Drillsearch as partners

Exposure to east coast gas market and LNG export opportunities

Western Australian Assets

100% of 15.6 million acres across the Canning and Carnarvon onshore basins

Seeking partners to fund next stages of exploration and development

Immediate

cashflow and

acreage value

development

Short to mid term

exploration,

appraisal and

development

Long term

exploration

upside

Market conditions

• Collapse in global oil prices with WTI down 30% in only four

months

• Oil & gas sector in Australia has followed with 30 – 40% falls on

average

• Global and US stocks posting similar losses

• Broad range of forecasts from analysts and markets for 2015 oil

prices, but consensus is oil price will appreciate

• NYMEX forward curves are upwards for the first time in a long

time

• Supply to reduce, starting with higher cost producers

• All medium and low cost US shale producers, including New

Standard, well above break-even at US$75 per barrel

6

Oil price drop driving O&G stocks down globally

Share price overview

7

Comparison to four main ASX listed Cooper and US companies

0

20

40

60

80

100

120

Pe

rcen

tage

Mo

vem

en

t (%

)

90 Day Relative Share Price Performance

NSE

Drillsearch

Senex

Sundance

Lonestar

Market cap vs valuation metrics

• Recent deals in adjacent Eagle Ford acreage done at $100-120k per flowing BOE

• 500 BOEpd = US$50-60 million (A$57-69 million)

• Recent undeveloped nearby acreage selling for US$2,500-$3,000 per acre

• See-through value on NSE’s 17.5% position in PEL570 A$15-20 million

8

0

10

20

30

40

50

60

70

80

NSE market cap NSE 1P reserves NSE 2P reserves

Market cap vs. Reserves valuation (PV10)

*

*Market cap at 6.7c per share

AU

D$

mill

ion

Future proofing – prudent management

• Recognition of tough market conditions

• Reflected in tough management decisions

9

Capital management is #1 priority

Reduce spend and defer commitments pending turnaround of market sentiment

One Eagle Ford well deferred

Stimulation and completion of two current wells put back to Feb 2015

Overheads cut >50%, staff by >60%

Minimise debt draw

Farm-out of Cooper Basin acreage to mostly eliminate

capital commitments

Pursuing farm-out of WA assets to reduce or eliminate capital

commitments

Corporate growth strategy

10

Eagle Ford

Grow the business – Drive the acreage value

Cooper Basin

Minimise spend

Maintain meaningful exposure

Manage commitments

WA Portfolio

No spend

Use large acreage and ownership to maximise value

and protect upside

Accelerate drilling

Increase acreage

Better completions

Increase production

Increase reserves

Reduce costs - higher IRRs

Prudent capital management and cost control will continue to influence the above

growth strategy until market conditions become more favourable

Eagle Ford project overview

11

Operations and growth summary

Operations Reserves growth Cost overview

• Drilled Peeler Ranch-5H

and 6H on time and

under budget

expectations

• Both wells drilled,

fracked and tied into

production

• Added to five producing

wells (now seven wells

generating cashflow)

• Currently drilling Peeler

Ranch-7H & Lagunillas-

3H

• Additional wells

scheduled over the next

six months

• Independent reserves

report significantly

increased reserves

base

• Strategy to drill in

limited reserves

acreage to continually

expand reserves base

and grow acreage value

• Continuing to reduce

spend and enhance

value in drilling and

fracking operations

• Secured enhanced debt

facility with Credit

Suisse for US$45

million

• Wells funded by

combination of existing

capital, revenue and

debt

Eagle Ford growth strategy

12

Core focus on increasing acreage value

Growth strategy Key driver

Accelerate drilling

• Re-commenced active drilling program in Q4 2014

• More wells to be drilled mid 2015

• Use drill rigs/frac equipment for multiple well programs

Increase acreage position

• Work closely with Magnum Hunter to identify additional acreage

opportunities

• Identify acreage that will extend the existing Eagle Ford acreage

positions – to grow reserves base concurrently

Better completions • Type III wells using longer laterals, higher proppant

concentration and more frac stages

Increase production • Prove Type III wells to increase IP’s and EUR’s

Increase reserves

• Target proven plays to build the reserve base

• Drilling on acreage with no reserves base

• Ability to enhance debt position alongside larger reserves base

Reduce costs - higher IRRs • Achieved through lower capital cost of wells and lower ongoing

operating costs , coupled with higher IP’s and EUR’s

Eagle Ford reserves overview

1P (‘000 BOE) 2P (‘000 BOE) 3P (‘000 BOE)

January 2014 1,535 2,677 12,390

September 2014 3,580 4,892 16,450

Increase 133% 83% 33%

13

Significant growth since January 2014 report

• Independent report calculates PV10 value for Eagle Ford reserves net to New

Standard at:

o A$30.8 million for 1P

o A$72.3 million for 2P

o A$148.5 million for 3P

*Reserves as at 30 September 2014 based on NSAI report and as released to the ASX on 28 October 2014

Eagle Ford, Texas – offset operators

14

Peeler Ranch project area

15

Allright project area

16

Driving Eagle Ford value creation

17

Key value drivers for Eagle Ford

• Increase daily production - targeting ~1,500-2,000 Boepd by end 2015

(recent deals valuing production at US$100,000 – US$120,000 per flowing Boepd)

• HBP majority of acreage with only 5 additional wells after current wells, giving full flexibility moving forward

• Increase reserves through more effective wells, longer laterals and more frac stages

• Improve IRR’s through lower capital cost of wells and lower ongoing operating costs

• Build larger acreage position and drilling inventory in proven play

Va

lue

pe

r a

cre

(U

SD

)

0

10,000

20,000

30,000

40,000

50,000

Initial

transaction

@

USD1,500

Current focus

Prove

production

Increase

reserves

base

Increase

acreage

position

Accelerate

drilling

Increase

reserves

base

HBP all

acreage

Opportunity

to monetise

at >USD25k

per acre

Recent transactions

18

Eagle Ford continues to attract corporate activity

Frac evolution – Atascosa County

19

All frac types – NSE target

20

Efficiency trends

21

22

Australian Assets

Cooper Basin – PEL 570 project

23

New Standard has secured a prime acreage

position within the rapidly emerging Cooper

Basin with proven prospectivity

Cooper Basin snapshot

PEL 570 is in the heart of the Patchawarra Trough

Substantial acreage position in prime location

Highly competent joint venture partners in Santos

Ltd and Drillsearch Energy Ltd

Farm-out to Santos brings Cooper Basin expert as

permit Operator

Reduced exploration expenditure commitments

while retaining exposure to prospective acreage

position

Includes active involvement by experienced partner

Magnum Hunter Resources

The PEL 570 Joint Venture

24

Farm out overview

Joint Venture Partner Pre deal PEL 570

equity

Post deal PEL 570

equity

New Standard Energy Ltd 52.5%* 17.5%

Drillsearch Energy Ltd 47.5% 47.5%

Santos Ltd nil 35%*

• Addition of Santos to PEL 570 JV significantly enhances exploration and

development capability and provides a clear commercialisation pathway

• New Standard will receive a total benefit equivalent to $39.15m and post the cash

consideration, New Standard’s expenditure equates to as little as $3.05m to earn

its 17.5% stake

• Powerful consortium of Santos, Magnum Hunter Resources, New Standard and

Drillsearch

• Santos to assume operatorship of PEL 570, indicating that a collaborative

approach will be pursued in relation to technical and operational input from New

Standard’s partner and major shareholder, Magnum Hunter

*Operator

Western Australia assets – the way forward

The WA assets remain highly prospective and

offer substantial potential upside to NSE and

our partners:

• Huge acreage position > 15 million acres

• Early stage development with a higher risk profile than

more developed basins in Australia (i.e. Cooper Basin)

• Potential resource estimates remain unchanged – the

basins remain highly prospective for onshore

development

• If successful, connection to market is relatively long-

term

New Standard’s aim is to:

• Actively seek partners for its WA assets to share the

risk and reduce capital exposure

• Keep ongoing communications with stakeholders

• Farm-out process has commenced for all acreage

25

The year ahead

26

USA, Eagle Ford Cooper Basin Western Australia

• Drill, complete and bring

into production two

wells in the next four

months

• Drill a further 3 – 6 wells

over the following 12

months

• Grow reserves base

• Release another

independent reserves

report

• Seek opportunities to

grow existing acreage

position

• Work with joint venture

partners to confirm work

program for upcoming

year

• Plan for seismic and

drilling program in

2015/16

• Progress farm-out of

WA asset portfolio,

currently underway

• Minimise costs until new

joint venture partners

secured

Important notice

27

This document has been prepared by New Standard Energy Limited ABN 20 119 323 385 (“New Standard").

This presentation contains certain statements which may constitute "forward-looking statements". It is believed that the

expectations reflected in these statements are reasonable but they may be affected by a variety of variables and changes in

underlying assumptions 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, reserve and resource estimates, loss of

market, industry competition, environmental risks, physical risks, legislative, fiscal and regulatory developments, economic

and financial market conditions in various countries and regions, political risks, project delays or advancements, approvals

and cost estimates.

All of New Standard’s operations and activities are subject to joint venture, regulatory and other approvals and their timing

and order may also be affected by weather, availability of equipment and materials and land access arrangements, including

native title arrangements. Although New Standard believes that the expectations raised in this presentation are reasonable

there can be no certainty that the events or operations described in this presentation will occur in the timeframe or order

presented or at all.

No representation or warranty, expressed or implied, is made by New Standard or any other person that the material

contained in this presentation will be achieved or prove to be correct. Except for statutory liability which cannot be excluded,

each of New Standard, its officers, employees and advisers expressly disclaims any responsibility for the accuracy or

completeness of the material contained in this presentation and excludes all liability whatsoever (including in negligence) for

any loss or damage which may be suffered by any person as a consequence if any information in this presentation or any

error or omission there from. Neither New Standard nor any other person accepts any responsibility to update any person

regarding any inaccuracy, omission or change in information in this presentation or any other information made available to a

person nor any obligation to furnish the person with any further information.

It is not intended as an offer, solicitation or recommendation with respect to the purchase or sale of any securities.

Prospective investors should make their own independent evaluation of an investment in New Standard including without

limitation, seeking professional advice.

For more information contact:

Phil Thick, Managing Director

+61 8 9481 7477

info@newstandard.com.au