INVESTOR PRESENTATION

28 May 2012

Investor Presentation

28 May 2012

David Maxwell, Managing Director

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INVESTOR PRESENTATION

28 May 2012

The information in this presentation:

Is not an offer or recommendation to purchase or subscribe for shares in Cooper Energy Limited or to retain or sell any shares that are currently held.

Does not take into account the individual investment objectives or the financial situation of investors.

Was prepared with due care and attention and is current at the date of the presentation.

Actual results may materially vary from any forecasts (where applicable) in this presentation.

Before making or varying any investment in shares of Cooper Energy Limited, all investors should consider the appropriateness of that investment in light of their individual

investment objectives and financial situation and should seek their own independent professional advice.

Competent Person

Unless stated otherwise, any statements in this presentation regarding reserves and resources estimates have been agreed to by Mr Stephen Twartz – Exploration

Manager, Cooper Energy and a full time employee of Cooper Energy, holding a Bachelor of Science, Master of Environmental Studies and qualified in accordance with

ASX Listing rules 5.11 and has consented to the inclusion in the report of the matters based on the information in the form and context in which it appears

Hydrocarbon Reporting Standard

Cooper Energy reports hydrocarbons in accordance with Cooper Energy’s Hydrocarbon Reporting Guidelines that is freely availab le from Cooper Energy’s website which is

(http://www.cooperenergy.com.au/corporate-centre/policies/hydrocarbon-reporting-policy.html).

2

Important Notice - Disclaimer

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INVESTOR PRESENTATION

28 May 2012

80,000

90,000

100,000

110,000

120,000

130,000

140,000

0.20

0.30

0.40

0.50

0.60

0.70

0.80

May-1

1

Jun

-11

Jul-

11

Aug

-11

Sep

-11

Oct-

11

No

v-1

1

Dec-1

1

Jan

-12

Feb-1

2

Mar-

12

Ap

r-12

Ind

ex

Sh

are

Pri

ce (A

$)

COE Share Price (LHS) S&P/ASX 300 Energy Accumulation Index (RHS)

Capital structure (1)

Share price 12 months low - high (to 25 May 2012)

30.5 - 69 cps

Shares on issue 292. 8m

Market capitalisation @ 43.5 cps on 25 May, 2012

A$127.4m

Cash @ 31 March, 2012 (2)

A$69.1m

Enterprise value A$58.3m

Shareholders Top 20 ~57%

Insto/Funds ~48%

3

Company snapshot

(1) Pre Somerton merger

(2) Excluding security deposits

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INVESTOR PRESENTATION

28 May 2012

4 Improving performance

Company snapshot

Financial, production and reserves

Production (barrels oil)

FY 2011

FY 2012 (guidance-Cooper Basin only)(1)

406,710

(500,000+)

Revenue (A$million)

January-June 2011

July-December 2011

20.7

25.8

EBITDAX (A$million)

January-June 2011

July-December 2011

9.7

13.5

Reserves and resources (million barrels @ 30 June 2011)

Proven and probable reserves (2)

Contingent resources 100% Hammamet West only (3)

(1) Subject to transport capacity and no unforseen events

(2) COE share

(3) COE 30% interest in Joint Venture .

2.47

110.00

H1 H1

H2

H2 Forecast

0

100,000

200,000

300,000

400,000

500,000

600,000

FY 2011 FY 2012 (f)

Production growth

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INVESTOR PRESENTATION

28 May 2012

5

Delivering the plan

Clear strategy & focus on shareholder return

45% increase in revenue (1)

18% increase in production (1)

137% increase in consolidated

profit (continuous ops) to $8.3m (2)

Cash A$69.1million (3)

Pursue growth catalysts

in focus areas

Cooper and Otway basins

Tunisia

Acquisitions and mergers

Australia gas business

Leverage strengths & build

strong foundation

Valuable Cooper Basin oil

Cooper & Otway basins

Tunisia

Strong cash flow and cash

Other assets -

maximise value

Romania

Indonesia

Poland

Otway - Somerton acquisition

Otway - drill Q4 2012

Tunisia - drill Q4 2012

o Evaluating M&A opportunities

o Analysing gas opportunities

Romania - exit and sold

interest

o Indonesia – increase

reserves and production

o Poland – evaluating exit

options

(1) 9 months to 31 March 2012

(2) 6 months to 31 December 2011

(3) Excludes security deposits

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INVESTOR PRESENTATION

28 May 2012

Production

12 fields

FY11: 406,710 barrels(COE share)

FY12: target 500,000+ barrels(COE share)(1)

Development (PEL 92)

Wells to be connected

Further development drilling 2012

Exploration

Drilling commenced June Quarter 2012

Seismic: Rincon 3D and Fusinus 2D

complete

6

Cooper Basin oil – PEL 92 (COE 25%) & PEL 93 (COE 30%)

Ongoing development + exploration

(1) Subject to transport capacity and no unforseen events

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INVESTOR PRESENTATION

28 May 2012

Very robust economics

Typical economic threshold is 45,000 barrels/well at US$100/barrel post drill

7

Cooper Basin - Western Flank oil

High margin business

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INVESTOR PRESENTATION

28 May 2012

9,039km2 (gross) acreage

Conventional and shale

▫ oil and gas

Access to markets and

infrastructure

25 Tcf+ original gas in

place(2)

Otway Basin – Somerton Energy acquisition(1)

Regional coverage & multiple targets

(1) Announced 19 April, 2012

(2) Casterton shale - Somerton estimate in

2011 Annual Report For

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INVESTOR PRESENTATION

28 May 2012

Prospective oil & gas area

793 km2 in basin heartland

Significant shale gas and oil

potential

Access to markets

December Quarter 2012 well

(“Sawpit Updip”)

▫ dual targets

▫ Beach funding 70%

Otway Basin – PEL 495 (Cooper 50% + 15% ex Somerton (1) )

Significant potential

9

Source: Somerton Energy Limited presentation September 2011 (1) Subject to Somerton acquisition completion F

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INVESTOR PRESENTATION

28 May 2012

Tunisia

3 contiguous licences

▫ Bargou – COE 30% (1)

▫ Hammamet - COE 35% (1)

▫ Nabeul – COE 85% (1)

12,644 km2

600 km2 Nabeul 3D seismic

Hammamet West-3 well

Nabeul exploration well

Multiple prospects and leads

(1) Joint Venture interest

10

Proven region – with robust returns

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INVESTOR PRESENTATION

28 May 2012

Tunisia – Hammamet West -3 (COE - 30%(1))

Dual targets

▫ 10 million bbls (P50) Birsa (2)

▫ 101 million bbls (P50) Abiod (2)

Farm-in partners fund up to US$26.6m

▫ Dragon Oil - 55%

▫ Jacka Resources - 15% (3)

Dragon valuable experience

▫ carbonate plays

▫ region

(1) Joint Venture interest

(2) 100% recoverable basis

(3) After Farm-in

11 Dual targets

Hydrocarbons

NW SE

Possible HW#3

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INVESTOR PRESENTATION

28 May 2012

Tunisia - Hammamet West-3

Drilling preparation underway

Drill December Quarter 2012

67 days to drill and test – budget case

Primary objective - demonstrate

Abiod Fm deliverability &

commerciality

Funded up to US$26.6 mill by farm-in

parties

AGR contracted for well management

services

Rig tender issued

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INVESTOR PRESENTATION

28 May 2012

Indonesia – adding value

13

Sukananti KSO

Approximately 150 barrels/day currently

24 km2 3D seismic acquisition completed

Reserves and production increase opportunities

Well(s) decision within September Quarter 2012

Sumbagsel PSC

Very prospective acreage

600kms 2D seismic acquisition December Quarter 2012

Well in 2013

Farm-out process underway – considerable interest

10 km

Existing Oil Field Existing Gas Field Prospect Lead Oil Pipeline

Sumbagsel PSC

Alur Cimon Tenggara

Telaga Said

Kampung Minyak

Sumpal (BPM)

Darat

Perlak

Perlak

Rebonjaro

Suban Burung

Selaro-Ladang-Pait

Kukui

Arahan-Banjarsari

Arahan-Banjarsari

PangadangPangadang

Karangringin

Batukeras

Sungai Taham

Sungai Taham

Suban Jerigi

Senabing

Lalang Minyak

Ramok

Tanjung Lontar

Kluang

Berau

Grissik

Kaliberau

Kenawang

Arubay

Talang Akar-Pendopo

Bajubang

Pulau Panjang

Limau Tengah

Rantau

Rantau

Jirak

Kenali Asam

Setiti

Benakat

Benakat

Mangunjaya

Gebang

Gebang

Sungai Lilin

Tempino

Talang Jimar

Paseh

Tanjung Miring Timur

Selo

Meruo Senami

Gunung Kemala

Lirik

Baung

Kaya

Siku

Limau Barat

Andan

Sago

Mambang

Sukamerindu

Langu

Keban

Keban

Duri

Duri

Benuang

Minas

Minas

Tanjung Tiga Barat

Kruh

Betun

Abab

Abab

PungutPungut

Deras

Pulai North

Binio

Prabumulih Barat

Limau Timur Q-22

Limau Timur Q-51

Limau Timur Q-51

Limau Niru

Molek

Sebanga

PematangPematang

Limau Timur P

Karangan

Bulu

Bulu

Geudongdong

Geudongdong

Bekasap South

RangauRangau

Pematang BowPematang Bow

Tandun

Kulin

Kulin

Bangko

Bangko

Mindal

Ibul

Lindai

Petapahan

Petapahan

Dewa

Sintong

Sintong

Suram

PinangPinang

Kaya Tenggara

Diski

Ibul Tenggara

Kuala Simpang Barat

Kuala Simpang Barat

Pinggir

Menggala North

Menggala North

Jorang

Jorang

Kasikan

Pudu

Tualang

Libo Southeast

Libo Southeast

Pedada

Terantam

Sintong Tenggara

Pinggir South

Pinggir South

Lematang 1

Depati

Seruni (Sintong Barat-laut)

Aman

Beruk

Tabuan

Damar

Pager

Sabak

Sangsam

Seroja

Ujung Tanjung

Tilan

Sikladi

Telinga

Batang

Zamrud

Kotagaro 1

Hitam

Cebakan

Dewa Barat 1

Blimbing

Bungsu

Beruk Northeast

Mutiara (CPI)

Langgak

Langgak

Singa

Tanjung Medan

Panerokan

Pekan

Tinggi 1

Gatam

Intan (CPI)

Intan (CPI)

Nella

Perkebunan

PusakaPusaka

Topaz

Zamrud South

Tanggul

Merbau (Central Sumatra)

Merbau (Central Sumatra)

Arak

Ubi

Ubi

Antara

Bago A-1

Benua

Benua

Buaya

Obor

Obor

Peudawa

Siput 1

Osam

Osam

Pusing 1

Paitan

Akar

Safir 1

Dusun

Puncak

Puncak

Puncak

Puncak

Kruh North

Kerumutan

Topi

Garuk

Kayuara

Peutouw

Peutouw

Sukaraja

Nilam (CPI) 1

Palem 1

Ninik 1

Batumandi Selatan 1

Panduk

Ampuh

Pemburu

Penasa

Lincak

Tabuan Selatan

Cucut

Betung Northwest 1

Napuh Southeast

Talayap 1

Tanjung Laban

Butun

Ramba

Ramba

Idris

Genting

Kakap 1

Pesut 1

Hiu (CPI)

Tunas

Pukat

GemuruhGemuruh

Tanjung Tiga Timur

Tanjung Tiga Timur

Kalidua 1

Kalidua 1

Rimbabat

Rimbabat

Kerang (Exspan)

Rintis

Suratmi

Tonga 1

Mutiara (Exspan)

Pulau Sembilan 1

Doral

Jene

Jene

Keri

Candi (CPI)Candi (CPI)

Talang Gendum

Kayuara EastKayuara East

KurauKurau

Giti

Ayu

Pian

MS AI

MS BH

MS BT

Serdang

Langkap

Bijak 1

MS TB 1

Pak

Mangga

MS BZ

Bertak

MS BM

Rumbi 1

Sembatu 2

Gulamo

Kelok

Uno 1

Rayu 1

Titian

Kutu

Nusa

MS BQ

Tanjung Kurung

Sakti

Jambon

Paluh Tabuhan Timur

Paluh Tabuhan Timur

Kuang

Kuang

Bentayan

Belimbing

Libo

Paluh Tabuhan Barat

Paluh Tabuhan Barat

Loyak

Iee TabeueIee Tabeue

Rambutan

Sengeti

Suban

Suban

Benakat Timur

Benakat Timur

Batumandi

Meruap

Pelita

Pelita

Sungai Gelam C

Merbau North

Merbau (North Sumatra)

Merbau (North Sumatra)

Setiti Tenggara A-1

Polonia

Pantai Pakam Timur

Securai

Iliran Barat

Kepiting

Kuala Dalam

Supat

Sungai Buluh

Sinamar 1

Melibur

Melibur

Melibur

Jingga

Hari

Hari

Rawa South

Letang

Letang

Tuba Obi Timur

MS TA

MS BK

Gunung Kembang

Gunung Kembang

Air Serdang

Air Serdang

Sidingin

Reno 1

DOS 1

Mandala

Mandala

Kuat

Siamang 1

Serang Jaya

Serang Jaya

Julu Rayeu

Tengah (Sumatra)

Tungkam

Ogan

Rantaubais

Lagan

Lagan

Betung (Gas)

Teras

Sembilan

Malapari 1

Lho Sukon South 'A'

Seuntang 1

Candi (STA)

Pergidatit A 1

Pager Dewa

Balam 2

Baganbelada Selatan 1

Talas

Besitang

Putih

Lho Sukon South 'B'

Terusan

Batu Ampar 1

Bukit Panjang 2

Bumi 1

Mandar

Dewa Timur 1

Peulalu 3

Kelabu

Alur Udep 1

Rawa

Temelat 1

Cunda A

Rayeu B 2

Muara Bulian 1

Sunting 1

Sungai Medak Utara 1

Penuguan 1

Panglero 1

Tiung

Mandau

Talang Babat 1

Aras 1

Pakuaji 1A

Kungku 1

Judi 1

Macan Gedang 1

Koneng

Gajah Besar 1

Geger Kalong

Lho Sukon South 'D'Lho Sukon South 'D'

Dayung

Tempirai

Sukajaya 1

Sambar

Bata 1

Kuala Langsa 1

Tanim

Perapen

Arun

Prabumenang

Wampu

Wampu

Teras Timur-Laut

Teras Timur-Laut

Alur Siwah

Rayeu C

Lembak

Bentu

Talang Gula

Pase A

Pase A

Basilam

Basilam

Tasim 1

Merbau (South Sumatra)

Petar 1

Buka 1

Hijau

Selat Panjang

Selat Panjang

Paluh Tabuhan Dalam A-1

Gelam

Beringin H

Beringin H

Idi

Idi

Cinta

Selatan

Kitty

Zelda

Utari

Utari

Gita

Nora

Nora

Udang

Udang

Arjuna AV

Arjuna AV

KrisnaKrisna

Kartini

Kartini

LitaLita

NSO H

NSO H

NSB N 1

Yvonne

Yvonne

Lalang

Farida

Mengkapan

Titi

Sundari

Nani 1

Arjuna AVS

Lastri 1

Duma

Fenti 1

Nurbani

Yani

Dita 1

Risma

North Lalang 1

Forel

Sepat 2

Glagah

PSI NF

Intan

Intan

Intan Northeast

Intan Northeast

Widuri

Widuri

Aryani

Indri

Indri

PSI ZT 1

Ambar

Banuwati

Banuwati

Janti

Arjuna AA

Rama

Terubuk

NSO L

NSB K 1

Wanda

Yuli 1

Lembu 1

Henny 1

MS N

GOS-IA 1

Duyung 1

Sembilang

PSI AX 1

Kerisi

KRA

Gajah Abu Abu 1

KH

Anoa

Anoa

Belanak

Belanak

KF

Belida

Belida

ONS F 1

Meulaboh 1

ONS G 1

Bison

Keudepasi 1

Palambak 1

Meulaboh Timur 2

Suma 1

Bawal

NSB J

NSB J 2

NSB O 1

Tembang

NSO A

NSB R 1

NSB R 1

Ratna 1 (West Java Sea)

NSB S 1

NSB U 1

North Belut

Tati 1

Lemuru 1

Aro I

Tawes

PSI AXM 1

Buntal

NSO 1S

NSB C 1

Salem 1

Teripang 1

Peusangan XL

Kambuna

Kambuna

Jambu Aye Utara 1

Ponder

Bungsu West

Tanjung Miring Barat

Hulu Asam

Mila 2

Bulian 1

Singa

Selagan 1

Kepala Gajah

Air Hitam

Kuala Simpang Timur

Secanggang

Singkel 1

Ronda

Asih

Pandan

Martini 1

MS BV

Paluh Sipat

Puyuh

Pendalian 1

Alur Rambong 1

Babat

Babat

Sumi 1

Paluh Sani 1

Melamun-Laman-Lului

Kerkai Timur

Cetik Dalam 1

Tundan 1

Belani

Vita

Paluh Tabuhan Timur Dalam 1

Sungai Gelam A

Sungai Gelam D

Setiti Tenggara 32

Sengkuang

Limau Timur Q-108

PSI AW 1

Nau

Sumpal

Aida

Tempino-Deep

Betung (Oil)

Pulai South

Balam SouthBalam South

Bekasap Southeast

Kerang (CPI)

Meuranti C

Rokiri

Bima ZU

Bima ZU

Petani

Petani

Alur Cimon

Alur Cimon

Susu Timur

Ratna 1 (Sumatra)

Selangit 1

MS BY

Bungin Batu

Sungai Tualang 1

Bukit Tiram

Geragai North

Ukui

Asti

Asti

Chesy

Chesy

Lydia

Lydia

Segat

KR

South Belut

South Belut

Prambatan B

Terbalik 1

Besar

Kemang

Bungkal 1

Bungkal 1

Pulau Gading

Ami

Jelita 1

Melati 1

Sijambu 1

Sijambu 1

Pijar

Pijar

Pandan B 1

Jambon Southeast

Kubu (Asamera) 1

Semoga

Semoga

Bintang Laut

Gajah Puteri

Gajah Puteri

Kaji

Kaji

Metur 1

Windri

Oki East

Mata Ular

Makmur

Sinar 1

Mengoepeh

Mengoepeh

Simpang Tuan

Nelayan

Hiu

Soka

Soka

DangkuDangku

Karan

Karan

Napal 1

Tembesi Bay 1

Tiki 1

Tiki 1

Kijing

PSI NA 1

Menggala South

Menggala South

Betun Tenggara

Betun Tenggara

Beringin A

KG

KG

Sopa

Sopa

Beruk North

Raja

Bungin

Bungin

Rayun

Rayun

Lokan

Harimau

Harimau

Dalu Dalu

Kaci 1

Kaci 1

Pelikan 1Pelikan 1

Kotabatak

Kotabatak

Tapus

Musi

Karmila

Karmila

Doral North

Lambur 1

Jangkar

Jangkar

Parum

Parum

Arjuna AU

Citra

Arbei Shallow

Arbei Shallow

Retno

Retno

Betara Northeast

Betara Northeast

Betara North

Betara North

Bekasap

Bekasap

Balam Southeast

Balam Southeast

Kopar

Kopar

Tegar

Oki

Benar

Benar

Waduk

Waduk

KRN

KRN

Kirana

Hana

Hana

Gemah

Gemah

Semunai

Guruh

Ketaling Timur

Petanang 1

Unggun

Atti

Natalinda 1

Teresia

Durian Mabok

PialaPiala South

Gita North

Kue Kecil

Karang Dewa

Rengan Condong

BaruBaru

Teluk Rendah

Mengul 1

Keong

Naga 1

Iguana 1

Sebanga North

Tuba Obi

Biru

Savitri

Ande-Ande Lumut 1

KRA South

Gajah Baru 1

Asih North

Bernai

Gemah North

Atti South

Runtuh

Siput 1 (Natuna)

Harja 1

Fajar

Pungut West

Suban Baru

Ripah

West Belut

Todak 1

Malong

Lubuk Batu

Gambang 1

Matra

Rombongin

Ami North

Lisah 1

Sungai Kenawang

KF NW 1

Perak Barat Laut 1

Noga 1

Mengoepeh Southeast 1

Sungai Gelam Deep 1

Sekundir

Mamung 1

Giok 1

Krueng Merbau

Jata

Jinawi 1

Gading

Paja Bilik

Tangkulim 1

Berkah 1

Kembar 1

Tilan Deep 1

Kakap (CONOCO) 1

Hiu Northeast 1

Sabar 1

Kalabau 1

Pase B

KG 5A

Piano

Sumpal North 1

Pemahat 1

Fariz 1

Betara West

MS EA

Kenawang P-1

Kabul 1

Tika

Terentang

Baung 1

Arca 1

Sarinah 1

Piano West

Terang Jaya

Betara Southwest

Beruang

Ketaling Barat

Bene Bekasap

West Berau

Reco 1

Manik 1

Rengas 1

Beringin D

Beringin E

Beringin F

Beringin C

Bakau 1

MS EG 1

Macan Tutul 1

Kelok Northeast 1

MS ED-1

Lembu Peteng 1

MS CN 1

MS DR-1

Lukah 1X

425000 430000 435000

9605000

9610000

425000 430000 435000X/Y:

Meters

9605000

9610000

N

5 km

Sukananti KSO

Tanjung

Miring Barat

Tanjung

Miring Timur

Development & exploration

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INVESTOR PRESENTATION

28 May 2012

Strong cash position

Healthy cash flow

Production growth

existing Cooper Basin and Indonesia oil fields

discoveries

acquisitions

Company changing opportunities

Otway wells

Tunisia wells

corporate activity’

multiple exploration targets

Focussed on shareholder return & clear strategy

build position in core areas

farm-outs reduce risk

Australia gas market opportunities

remuneration and shareholder return aligned

Financial

Implementing the strategy 14

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INVESTOR PRESENTATION

28 May 2012

Key: Cooper Activity FY 2012 FY 2013

Somerton Activity Mar Qtr Jun Qtr Sep Qtr Dec Qtr Mar Qtr Jun Qtr

Cooper Basin

Production From 12 fields

New oil pipeline

Tie in new wells and discoveries 3 discoveries

Drilling: appraisal & exploration Multiple wells

Seismic

Otway Basin

Drilling: exploration

Seismic

Gippsland Basin

Frac and test

Tunisia

Drilling: appraisal & exploration 1 well 1 well

Indonesia

Production

Seismic & drilling Seismic Well(s)

Forward activity

Robust base + multiple growth catalysts

1 well 1 well

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