Pura Vida Energy (Proposed ASX:PVD) Investor Presentation for December Initial Public Offering (IPO)

1. November 2011
Investor Presentation
Please visit www.puravidaenergy.com.au to download a copy of the IPO Prospectus
An offer of up to 20,000,000 shares at an issue price of $0.20 per share to raise $4,000,000
Opening date 28 November 2011
Closing date 16 December 2011
Despatch of holding statements 19 December 2011
Expected date for quotation on ASX 23 December 2011

2. investment highlights
 African explorer with a substantial acreage position offshore Morocco
 Independently certified potential resources of greater than one billion barrels of oil
 Modern, high quality 3D seismic data over acreage has revealed Direct
Hydrocarbon Indicators (DHI’s) on drilling prospects
 The Toubkal prospect has been independently estimated to contain between 180
and 1,670 mmbbl, with a mean estimate of 790 mmbbl
 Toubkal is a ‘look-a-like’ of the billion barrel Jubilee field in Ghana – the largest oil
discovery made in West Africa in the past decade
 Actively building a diversified portfolio of energy assets
 Industry experienced board and management team with a demonstrable track
record of growth in shareholder value through exploration success and value
accretive acquisitions
 This IPO provides investors with an early entry opportunity to invest in a company with
material upside and significant growth aspirations
2

3. strategy
 Acquire conventional upstream oil and gas assets – seeking material working interest in
projects with significant upside
 Management team with extensive commercial, technical and A&D expertise:
 Track record of exploration successes and value accretive acquisitions
 Deals achieved significant growth in shareholder value
 Ability to pick emerging areas with large potential resources and de-risk with quality
technical work
 Securing near-term acquisition opportunities and building a balanced E&P portfolio
within 24 months:
 Geographic focus on Africa - exposure to large scale opportunities and seeking
partnerships with majors/independents
 Near term value/high growth opportunities
 Leverage experience and networks of Board and management team
 Progress oil exploration activities and enhance value in Mazagan Offshore Area
 IPO provides investors with an early entry opportunity with material upside
3

4. Mazagan offshore area
Deep water exploration with
significant potential resources…
 Total area of 10,900km2
REPSOL GAS
(2.7 million acres) DISCOVERY
 Operator and 75% interest holder
 3,570km2 of modern 3D seismic
ONSHORE
 Several leads & prospects supported by OIL AND
GAS FIELDS
Direct Hydrocarbon Indicators (DHI’s)
 Toubkal prospect with potential for
hundreds of millions of barrels of oil
 Comparable to the billion barrel Jubilee KOSMOS
ACQUIRED IN ANADARKO
field in Ghana – the largest oil discovery JULY 2011
KOSMOS
ACQUIRED IN
OCT 2011
in West Africa in the past decade FARMIN
SEPT 2011
 Internationally competitive
CAP
fiscal terms JUBY OIL AFRICA
FIELD
 Significant increase in transactional
activity in recent months
OIL FIELD GAS FIELD
4

5. recoverable resources
 Independent resource assessment completed
by RISC in September 2011
 Toubkal mean resource of 790 mmbbl
 Total mean prospective resources on main
prospects of over a billion barrels
GROSS UNRISKED PROSPECTIVE OIL RESOURCES (MMBBL - RECOVERABLE)
PROSPECTS LOW BEST HIGH MEAN
Toubkal 180 560 1,670 790
Zagora 13 35 95 47
Amchad 8 26 81 38
Jbel Musa 14 53 195 87
Jbel Ayachi 12 43 153 69
Jbel Lakhdar 12 43 153 69
TOTAL - PROSPECTS - - - 1,100
LEADS
Amtoudi - - - 700
Tafraoute - - - 800
TOTAL - PROSPECTS & LEADS - - - 2,600
PROSPECTS & LEADS
Sources: RISC Independent Resource Assessment – Sep 2011 & Pura Vida lead estimates MIOCENE LOWER CRETACEOUS
5

6. board and management
Damon Neaves David Ormerod Bevan Tarratt
Managing Director Technical Director Chairman
 Formerly BDM for Tap Oil  Over 25 years experience in  Accounting industry
the oil and gas sector background primarily focused
 Led Business Development,
on small/mid cap resource
Commercial and Legal teams  Participated in several major
companies
during 8 year tenure at Tap discoveries over his career
 Founding partner of
 Several major acquisitions,  Responsible for Karoon Gas’
Hemisphere (cornerstone
many involving entry into new entry into Brazil which saw a
investor in Pura Vida)
countries: Thailand, Ghana, period of dramatic growth in
Indonesia, Brunei, Philippines, shareholder value  Equity markets experience with
Australia & NZ Patersons Securities
 Experience with BHPBP,
 Upstream project Woodside, Stirling and Tap in  Managed IPOs, secondary
management experience areas as diverse as the Gulf of raisings and re-structuring of
Mexico (GoM), West Africa, SE numerous ASX listed
 Legal/corporate advisory
Asia and the NW Shelf companies
background
 Director of a number of
Australian public companies
Pura Vida has assembled a management team with extensive commercial, technical and A&D expertise
with a track record of exploration success and value accretive acquisitions
6

7. capital structure (indicative only)
NO. RAISED UNPAID
(MILLIONS) ($M) ($M)
 $2.6m cash on hand plus IPO CURRENT
funds will be used to fund the
Mazagan work programme Partly paid shares1 22.9 0.2 4.4
($3.6m), repay shareholder loans Fully paid shares2 20.3 3.2 -
($700k), and meet working
capital requirements TOTAL (CURRENT) 43.2 3.4 4.4
 In addition, Mr Neaves and PRO FORMA
Mr Ormerod will share equally in
at total of 10m performance Partly paid shares 22.9 0.2 4.4
rights and 5m options at 40c Fully paid shares3 40.3 7.2 -
which are subject to
performance-based vesting TOTAL (PRO FORMA) 63.2 7.4 4.4
conditions
1. Partly paid shares are paid to 1c and payable to 20c within 5
 Tight capital structure provides years. These shares carry voting rights but will not be quoted
on ASX unless and until they are fully paid up
shareholders with significant 2. Approximately 90% of the fully paid shares were issued at
leverage in success case $0.16 per share
3. Assumes an IPO of 20m shares at 20c to raise $4m
7

8. Combined structural/stratigraphic
traps supported by DHI’s on 3D
seismic have been drilled with
considerable success in NW Africa
8

9. seismic amplitudes on Toubkal
A’ A’ Water
A’
Oil Salt
FIT TO
STRUCTURE
A
Gas
AMPLITUDE SCALE
LOW
(WATER)
MODERATE
(OIL)
HIGH
3D SEISMIC LINE (GAS) SEISMIC AMPLITUDE MAP
9

10. hydrocarbon fill
Amplitude cut-off
at common depth…
RESERVOIR
OIL ON WATER
10

11. Zagora and Amchad
Strong conformance of high amplitudes and structural closure…
ZAGORA mmbbl AMCHAD mmbbl
BLUE POLYGON (P90) 13 BLUE POLYGON (P90) 8
RED POLYGON (P10) 95 RED POLYGON (P10) 81
MEAN 47 MEAN 38
11

12. title and work program
 8 year exploration permit with a right to an exploitation concession in the event of
discovery for a term of 25 years plus a 10 year extension
 Work program:
COST*
TERM WORK OBLIGATIONS
(US$M)
1st Term (24 months) • 50 drop cores (sea bed samples) 1.01
• Reprocess 3,000 km2 to pre stack depth and
detailed seismic inversions 2.15
• Geological studies 0.50
Exit point – drill or drop + 20% relinquishment
2nd Term (24 months) • One exploration well to 3,000m SS 10.00*
Exit point – drill or drop + 30% relinquishment of original area
3rd Term (48 months) • Two exploration wells to 3,000m SS 20.00*
* Cost estimates for the purposes of the minimum financial commitments as set out in the Petroleum
Agreement, actual drilling costs are likely to be considerably higher
12

13. news and events
Pura Vida Energy 2011 2012 2013
Timeline Oct Nov Dec Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Acquisition of Mazagan Project TESTING FOR
OIL SEEPS KEY RESULT: IMPROVE
IPO offer period RISKING/CHANCE OF SUCCESS
ON MAIN PROSPECTS
Admission to ASX
Drop core program
Seismic reprocessing DIVERSIFY
PORTFOLIO SECURE FUNDING
FOR DRILLING
Potential acquisition of new project PROGRAM
Farmout
Exploration well(s)
Review of prospects & forward program DRILLING WILL TARGET
SEVERAL HUNDRED
MMBBL (NET)
Second exploraiton period commences
 Strategy to deliver material success and value within 2 years:
1) Carry out work program and secure funding for drilling program in Mazagan
2) Build a diversified portfolio of energy assets through acquisition
13

14. fiscal terms
INTERNATIONALLY COMPETITIVE FISCAL TERMS
• State (ONHYM) is carried through exploration for 25%
• Royalty rates:
VOLUME ROYALTY
Oil First 500,000 tons (4 mmbbls) 0%
Thereafter 7%
Gas First 500 mmcm (18 Bcf) 0%
Thereafter 3.5%
• US$1m discovery bonus payable on declaration of a commerciality. Production bonuses
begin only once production exceeds 20,000 bopd
• 10-year tax holiday from company/income tax from date of first production at each field
• Exempt from withholding tax, import duty and VAT
• Stability clause – Petroleum Agreement provides compensation to Pura Vida in the event of
any adverse effect from a change in regulations
• Any dispute settled by arbitration in Paris under internationally accepted rules (ICSID or ICC)
14

15. Morocco
 Established, codified petroleum
regime with exploration blocks
granted under petroleum
agreements
 Robust infrastructure and current
pipeline capacity
 Significant increase in transactional
activity by large independents such Gharb gas fields
as Kosmos and Anadarko
 Level of exploration activity is set to
increase sharply
 Growing domestic energy
requirements. Morocco is the
world’s third-largest producer of Meskala Gas Fields
Phosphates (after the US) Sidi Rhalem Oil Field
 Sovereign risk amongst lowest
in Africa
 European based laws ENERGY INFRASTRUCTURE IN MOROCCO
15

16. disclaimer
Certain statements contained in this presentation, including information as to the future financial or
operating performance of Pura Vida Energy NL (Pura Vida) and its projects, are forward-looking statements.
Such forward looking statements:
 are necessarily based upon a number of assumptions and estimates that, while considered reasonable
by Pura Vida, are inherently subject to significant technical, business, economic, competitive, political
and social uncertainties and contingencies;
 involve known and unknown risks and uncertainties that could cause actual events or results to differ
materially from estimated or anticipated events or results reflected in such forward-looking statements;
and
 may include, among other things, statements regarding targets, estimates and assumptions in respect
of production, prices, operating costs, results, capital expenditures, reserves and resources and
anticipated flow rates, and are or may be based on assumptions and estimates related to future
technical, economic, market, political, social and other conditions.
Pura Vida disclaims any intent or obligation to update publicly any forward-looking statements, whether as a
result of new information, future events or otherwise.
All forward-looking statements made in this presentation are qualified by the foregoing cautionary
statements. Investors are cautioned that forward-looking statements are not guarantees of future
performance and accordingly investors are cautioned not to rely on forward-looking statements due to the
inherent uncertainty therein.
16

17. corporate information
Head Office Directors
Level 8, 225 St Georges Terrace Damon Neaves, Managing Director
Perth WA 6000 David Ormerod, Technical Director
Bevan Tarratt, Non-Executive Chairman
t +61 89486 4036
f +61 89486 4799
dneaves@puravidaenergy.com.au Corporate Advisor
Hemisphere Corporate Services
Issued Capital
41.7m shares (as at Oct ‘11) Exchange
63.7m shares (post-IPO*)
ASX (Listing in Dec‘11)
* Estimate based on a $4m IPO raising Proposed Code: PVD
Net Cash
$2.6m (as at Nov ‘11)
$4.4m unpaid capital
17