July 2012

Forward-looking Statements

2

This presentation contains forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). The use of any of the words “expand”, “repeat”, “increase”, “unlock”, “build”, “de-risk”, “target”, “advance” and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. The Corporation believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. Such forward-looking statements included in the presentation should not be unduly relied upon. These statements speak only as of the date of the presentation. The presentation contains forward-looking statements pertaining to the following: business strategy, strength and focus; the granting of regulatory approvals; the timing for receipt of regulatory approvals; the resource potential of the Properties; the estimated quantity and quality of the Corporation’s oil and natural gas resources; projections of market prices and costs and the related sensitivity of distributions; supply and demand for oil and natural gas; expectations regarding the ability to raise capital and to continually add to resources through acquisitions and development; treatment under governmental regulatory regimes and tax laws, and capital expenditure programs; expectations with respect to the Corporation’s future working capital position; capital expenditure programs; and abandonment and reclamation costs. With respect to forward-looking statements contained in the presentation, assumptions have been made regarding, among other things: future commodity prices; the Corporation’s ability to obtain qualified staff and equipment in a timely and cost-efficient manner; the ability of the Corporation to progress through the conditions precedent to conclude the Origin Agreement on schedule, or at all; the impact of any changes in New Zealand law; the regulatory framework governing royalties, taxes and environmental matters in New Zealand and any other jurisdictions in which the Corporation may conduct its business in the future; the ability of the Corporation's subsidiaries to obtain subsequent mining permits, access rights in respect of land and resource and environmental consents; the recoverability of the Corporation’s crude oil, natural gas and natural gas liquids resources; the applicability of technologies for recovery and production of the Corporation’s oil, natural gas and natural gas liquids resources; the Corporation’s future production levels; the Corporation’s ability to market crude oil, natural gas and natural gas liquids production; future development plans for the Corporation’s assets unfolding as currently envisioned; future capital expenditures to be made by the Corporation; future cash flows from production meeting the expectations stated herein; future sources of funding for the Corporation’s capital program; the Corporation’s future debt levels; geological and engineering estimates in respect of the Corporation’s resources; the geography of the areas in which the Corporation is exploring; the impact of increasing competition on the Corporation; and the Corporation’s ability to obtain financing on acceptable terms, or at all. Actual results could differ materially from those anticipated in these forward-looking statements as a result of the risk factors set forth below and elsewhere in the presentation: the speculative nature of exploration, appraisal and development of oil and natural gas properties; uncertainties associated with estimating oil and natural gas resources; changes in the cost of operations, including cots of extracting and delivering oil and natural gas to market, that affect potential profitability of oil and natural gas exploration; operating hazards and risks inherent in oil and natural gas operations; volatility in market prices for oil and natural gas; market conditions that prevent the Corporation from raising the funds necessary for exploration and development on acceptable terms or at all; global financial market events that cause significant volatility in commodity prices; unexpected costs or liabilities for environmental matters; competition for, among other things, capital, acquisitions of resources, skilled personnel, and access to equipment and services required for exploration, development and production; changes in exchange rates, laws of New Zealand or laws of Canada affecting foreign trade, taxation and investment; failure to realize the anticipated benefits of acquisitions; and other factors. Readers are cautioned that the foregoing list of factors is not exhaustive. Statements relating to “resources” are deemed to be forward-looking statements, as they involve the implied assessment, based on certain estimates and assumptions, that the resources described can be profitably produced in the future. The forward-looking statements contained in the presentation are expressly qualified by this cautionary statement. Except as required under applicable securities laws, the Corporation does not undertake or assume any obligation to publicly update or revise any forward-looking statements.

3

Production Exploration Growth

4

Permit Working Interest

Net Acres Prospective Resource 1

Eltham 100% 93,167 32.1 MM bbl

Alton 65%2 77,482 45.0 MM bbl

New Petroleum Licenses

100% 26,907 Acquisition pending 3

Ranui 100% 223,087 40.5 MM bbl

Castlepoint 100% 551,045 208.6 MM bbl

East Cape 4 100% 1,067,495 355.4 MM bbl

Total Acreage 2,012,276

1. Net Prospective Resource as identified by AJM Petroleum Consultants (best estimate) assuming 9% recovery for conventional resources and 2% recovery for unconventional resources.

2. Assumes NZEC completes the requirements to increase its interest in the Alton permit from 50% to 65%, as per an agreement with L&M Energy Limited.

3. Acquisition of four Petroleum Licenses and Waihapa Production Station from Origin Energy. Transaction expected to close October 2012. See Strategic Taranaki Acquisition.

4. East Cape permit pending Crown approval.

Eltham Alton

Ranui

Castlepoint

East Cape

Conventional Focus

Conventional and Unconventional Targets

Asset Overview

5

Opportunity

Production & Cash Flow • Three wells in production June production averaged ~688 boe/d (391 bbl/d and

1,784 mcf/d1) from CM-1 and CM-2, CM-3 commenced production on July 2 • Top-tier operating netback in Brent pricing environment2

High Impact Exploration • Four consecutive oil discoveries • Multi-zone potential in each well • Significant drilling inventory of 3D-defined leads • Drilling eight exploration wells in H2-2012, at least one well/month in 2013

Large Portfolio • 2 million net acres with both conventional and unconventional targets3

• Large prospective reserve/resource base: 203 MM bbl conventional, 478 MM bbl unconventional4,5

Growth • Expanding portfolio with acquisitions and partnerships • Additional cash flow from natural gas and liquids production2

• Upside from unconventional oil shale resources 1. NZEC has completed a natural gas pipeline and tie-in to the Waihapa Production Station. The operator is finalizing arrangements to receive the gas, and NZEC expects to begin generating cash flow from its natural gas production in July. 2. NZEC calculates the netback as the oil sale price less fixed and variable operating costs and a 5% royalty. Q2-2012 netback estimated at US$75/bbl based on estimated average realized oil price of US$105. Netback will fluctuate based on prevailing oil price. 3. Approximately 1 million net acres granted across four permits. East Cape permit is pending Crown approval. 4. Reserves published April 30 based on Copper Moki-1 reservoir and production data with Dec 31, 2011 cut-off. Resources based on AJM Petroleum Consultants Net Prospective Resource (best estimate). See Cautionary Note Regarding Reserve & Resource Estimates. 5. Assumes NZEC completes requirements to earn full 65% interest in Alton Permit.

6

Corporate Profile

Common Shares Outstanding 121.8 million

Options (Exercisable at $1.03) Advisor Warrants (Exercisable at $1.00)

5.9 million 0.7 million

Fully Diluted Shares Outstanding Cash Position (at May 29) Insider Ownership (FD) IPO – August 2011 $63M Financing – March 2012 52 Week High / Low Average Volume (Q2-2012)

128.4 million

~$61 million

~30%

$1.00/share $3.00/share

$3.79 / $0.90

~460,000 shares/day

7

2011 Achievements / 2012 Plan

2011 Achievements Capture dominant land position in two basins in New Zealand

High impact conventional basin and highly prospective shale play Recruit highly experienced technical and management team Prove conventional geological model Production and cash flow

2012 Plan Repeat exploration and production success in conventional basin

Four consecutive oil discoveries from Copper Moki wells Raise sufficient capital to accelerate exploration program Forge Cooperation Agreement with New Zealand iwi partners Identify acquisition strategic for both exploration and infrastructure Drill 8 additional exploration wells increase reserves, production, cash flow Target exit rate 3,000 boe/d1

1. Management prepared production forecast based on operational success in the Taranaki Basin, planned drilling of eight exploration wells in H2-2012, completion of natural gas pipeline allowing for marketing of natural gas production, and continued performance in line with existing oil and natural gas production from Copper Moki-1 and Copper Moki-2.

8

Production 8

9

• Proven hydrocarbon basin producing ~130,000 boe/day from 18 fields

• 2 permits with more than 33 prospects

• Four consecutive oil discoveries

• 2D seismic coverage: 60,666 km

• 3D seismic coverage: 5,802 km2

170,649 Net acres 1

843 MM Barrels OOIP 1,4

77.1 MM Barrels conventional prospective resource 1,3

1. Assumes NZEC completes the requirements to increase its interest in the Alton permit from 50% to 65%, as per an agreement with L&M Energy Limited. 2. Reserves estimate based on reservoir and production data from Copper Moki-1 with a Dec 31, 2011 cut-off. 3. Net Prospective Resource as identified by AJM Petroleum Consultants (best estimate) assuming 9% recovery. 4. Net Undiscovered Petroleum Initially in Place (OOIP) as identified by AJM Petroleum Consultants. See Cautionary Note Regarding Reserve & Resource Estimates.

412,200 Barrels oil equivalent 3P reserves 2

Taranaki Basin

10

Seismic Cross Section Cheal - Copper Moki - Taranaki Thrust Fault Zone

Multi-zone Production Potential

11

Production Report Card

CM-1 CM-2 CM-3 CM-4

Producing formation

Oil quality

Initiated continuous production

Cumulative production to June 30

Cumulative revenue to June 30

Average oil production1

Reserves

Mt. Messenger

41.8o API

December 2011

81,184 bbl

$8,956,000

~175 bbl/d

412,000 boe 3P

Mt. Messenger

41.8o API

April 2012

48,932 bbl

$5,398,013

~216 bbl/d

n/a

Mt. Messenger

40.0o API

June 2012

7,456 bbl

$830,684

~242 bbl/d2

n/a

Urenui

29o API

Awaiting installation of

artificial lift

Gas and liquids opportunity

Gas to be sold1

Condensate to be recovered1

LPG to be recovered1

Estimated daily revenue3

727 mcf/d

9 bbl/d

35 bbl/d

$4,985

1,057 mcf/d

13 bbl/d

50 bbl/d

$7,210

135 mcf/d

2 bbl/d

6 bbl/d

$935

1. Average daily production for month of June 2012. NZEC has completed a natural gas pipeline and tie-in to the Waihapa Production Station. The operator is finalizing arrangements to receive the gas, and NZEC expects to begin generating cash flow from its natural gas production in July. 2. Average over first seven days of production. 3. Gross revenue assuming $4/mcf of natural gas , $85/bbl of condensate and $37.50/bbl of LPG.

12

Strategic Acquisition – Waihapa Production Station

Closing of the acquisition is targeted for October 2012 and contingent on receiving government approvals, Origin completing the current recommissioning of the TAWN LPG extraction facility, Origin and/or NZEC entering into an agreement with Contact Energy regarding the use and development of Origin’s Ahuroa gas storage facility, and standard TSX Venture Exchange approvals.

Oil handling

Water handling Gas compression TAWN LPG facilities

Condensate tank

Propane, butane and LPG tanks

Water reservoir

• Only open-access midstream facility in Taranaki Basin business opportunities for processing third-party gas, liquids, oil and water

• Full-cycle gathering and sales infrastructure

• Central to NZEC’s inventory of exploration prospects

• Reduces NZEC’s processing and transportation costs

• Gathering capacity in place to service NZEC’s oil and gas production

• Sales pipelines in place to deliver NZEC production to market

• Facilitates NZEC’s longer-term growth plans

13

Exploration

14

~20,000 boe/d production surrounding NZEC permits

Copper Moki discovery wells x

1. Natural gas and liquids currently being flared pending completion of a natural gas pipeline, on schedule for tie-in to Waihapa Production Station by end of June 2012.

Taranaki Basin

• Permits on trend with existing oil and gas fields

• Exploration strategy • Mt. Messenger is primary target • Use 3D seismic to identify leads • Prioritize leads with multi-zone

potential high impact exploration with low incremental capital cost

• Significant drilling inventory of 3D defined leads • Up to four wells per lead • Up to 1 MM bbl recoverable per

well • Fully funded for eight well drilling

program commencing in August 2012

15

Taranaki Basin – Exploration Strategy

Copper Moki wells x • Target Mt.

Messenger formation

• Explore multi-zone potential at minimal incremental cost

Strategic Acquisition – Expanded Drilling Inventory

16

Four Petroleum Licenses • Renewable without relinquishment • Resource consents in place • 16 established drill pads, most with oil

and gas gathering lines in place

Expanded inventory of 3D seismic leads • 93 km2 3D seismic data, 585 km 2D

seismic data • 14 Mt. Messenger leads, 8 Urenui

leads, 8 Moki leads • 6 leads on 2D seismic, assessment of

Kapuni potential underway • Continuing to evaluate seismic and

well log data, drill pads and surface facilities to prioritize exploration opportunities once acquisition closes

Closing of the acquisition is targeted for October 2012 and contingent on receiving government approvals, Origin completing the current recommissioning of the TAWN LPG extraction facility, Origin and/or NZEC entering into an agreement with Contact Energy regarding the use and development of Origin’s Ahuroa gas storage facility, and standard TSX Venture Exchange approvals.

Strategic Acquisition – Existing Wells

17

Uphole completion potential • Previous wells penetrated NZEC’s

target formations • Well log data from 27 wells • Well control expedites exploration

cycle time, reduces drilling risk • Data demonstrate production

potential from Mt. Messenger and Kapuni formations, with good hydrocarbon shows in Moki and Urenui formations

• Uphole completion potential in existing wells across target formations

• Evaluating well log data and well condition to prioritize exploration opportunities once acquisition closes Closing of the acquisition is targeted for October 2012 and contingent on receiving government approvals,

Origin completing the current recommissioning of the TAWN LPG extraction facility, Origin and/or NZEC entering into an agreement with Contact Energy regarding the use and development of Origin’s Ahuroa gas storage facility, and standard TSX Venture Exchange approvals.

18

Taranaki Basin – Exploration Inventory

• In addition to its Mt. Messenger focus, NZEC is exploring the Urenui and Moki formations over the Eltham and Alton permits and is considering opportunities in the Kapuni formation

• Interpretation of 100 km2 Eltham/Alton 3D seismic survey and well log data from the new Petroleum Licenses will further delineate exploration prospects

New Petroleum Licenses Exploration Opportunities (Preliminary review of data)

3D-defined leads 14 Mt. Messenger, 8 Urenui, 8 Moki

2D-defined leads 6 currently identified, Kapuni evaluation underway

Existing wells Uphole completion opportunities in Mt. Messenger, Urenui, Moki

NZEC Exploration Permits Leads & Prospects

Wells per Lead/Prospect

Potential Inventory (Wells)

3D-defined Mt. Messenger prospects 6 2 - 4 14 - 28

2D-defined Mt. Messenger leads 12 2 - 4 24 - 48

Total Mt. Messenger 18 38 - 76

19

• World-class resource potential in two oil shale packages

• 1.4 B bbl conventional OOIP 3

• 20.9 B bbl unconventional OOIP 3

• 2 permits issued, 1 permit pending 1

• 2D seismic coverage: 14,535 km • 3D seismic coverage: 1,390 km2

1.8 M Net acres 1

126 MM Barrels conventional prospective resource 2

478 MM Barrels unconventional prospective resource 2

1. East Cape Permit pending Crown approval. 2. Net Prospective Resource as identified by AJM Petroleum Consultants (best estimate) assuming 9% recovery for conventional resources and 2% recovery for unconventional resources. 3. Net Undiscovered Petroleum Initially in Place (OOIP) as identified by AJM Petroleum Consultants. See Cautionary Note Regarding Reserve & Resource Estimates.

East Coast Basin

20

• Over 300 oil and gas seeps sourced back to two oil shale formations

• Advancing technical understanding of shale targets • NZEC analyzing results from

three stratigraphic wells • NZEC completing 100 km of 2D

seismic in 2012 • Apache Corp. and TAG Oil

exploring offsetting permits

East Coast Basin Exploration

21

East Coast Basin Oil Shale Potential Waipawa Whangai Bakken

Basin/Jurisdiction East Coast New Zealand

East Coast New Zealand

Willesden North Dakota & Saskatchewan

Quartz Content (%) 40 – 80 40 – 80 40 – 60 Carbonate Content (%) 5 – 40 5 – 40 10 – 20 Clay Content (%) Unknown Unknown 5 – 20 Depth (meters) 0 – 5,000 0 – 5,000 2,700 – 3,500 Thickness (meters) 10 – 70 300 – 600 10 – 50 Porosity (%) 3 – 8 3 – 8 4 – 12 Permeability (microdarcies) 10 – 200 10 – 110 5 – 1,000 Kerogen Type Type II Type II Type II TOC (%) 3.0 – 12.0 0.2 – 1.7 1.0 – 21.0 Vit Reflectance (R) 0.3 – 0.4 0.4 – 1.4 0.7 – 1.1 Tmax (Celsius) 430 – 445 420 – 445 420 – 450

Geologic Age Late Paleocene Late Cretaceous / Paleocene Upper Devonian

Source: AJM Petroleum Consultants

• Cores and open hole logs from three stratigraphic wells will advance NZEC’s understanding of the shale formations and focus the 2012 East Coast exploration strategy

22

East Coast Basin Oil Shale Potential Waipawa Whangai Bakken

Basin/Jurisdiction East Coast New Zealand

East Coast New Zealand

Willesden North Dakota & Saskatchewan

Quartz Content (%) 40 – 80 40 – 80 40 – 60 Carbonate Content (%) 5 – 40 5 – 40 10 – 20 Clay Content (%) Unknown Unknown 5 – 20 Depth (meters) 0 – 5,000 0 – 5,000 2,700 – 3,500 Thickness (meters) 10 – 70 300 – 600 10 – 50 Porosity (%) 3 – 8 3 – 8 4 – 12 Permeability (microdarcies) 10 – 200 10 – 110 5 – 1,000 Kerogen Type Type II Type II Type II TOC (%) 3.0 – 12.0 0.2 – 1.7 1.0 – 21.0 Vit Reflectance (R) 0.3 – 0.4 0.4 – 1.4 0.7 – 1.1 Tmax (Celsius) 430 – 445 420 – 445 420 – 450

Geologic Age Late Paleocene Late Cretaceous / Paleocene Upper Devonian

Source: AJM Petroleum Consultants

• Cores and open hole logs from three stratigraphic wells will advance NZEC’s understanding of the shale formations and focus the 2012 East Coast exploration strategy

Growth

23

Adding Value in 2012

Significant catalysts in H2-2012 Achieve continuous production from CM-3 additional cash flow • Cash flow from natural gas, liquids and condensate production • Production decision from CM-4 following artificial lift assessment • Update reserve estimate • Eight well drilling program commencing in August • Rapidly advance successful wells to production using existing facilities • Interpret 100 km2 of 3D seismic to expand drilling inventory • Complete acquisition of Petroleum Licenses and Waihapa Production Station • Prioritize new leads and uphole completion opportunities • Refine exploration strategy for East Coast oil shales using 2D seismic data and

shale cores • Achieve 3,000 boe/d by year-end 20121

1. Management prepared production forecast based on operational success in the Taranaki Basin, planned drilling of eight exploration wells in H2-2012, completion of natural gas pipeline allowing for marketing of natural gas production, and continued performance in line with existing oil and natural gas production from Copper Moki-1 and Copper Moki-2.

24

Adding Value in 2013

Production • Increase reserves, production and cash

flow through exploration success

Exploration • Drill one well per month into

conventional Taranaki targets • Drill at least one exploration well to

evaluate East Coast oil shale formations

Growth • Continue to evaluate acquisition and

farm-in opportunities • Continue to expand team to support

growth plans

25 25

Appendix

26

Strategic Taranaki Acquisition

Upstream Assets • Four Petroleum Licenses covering

26,907 acres, contiguous with Eltham and Alton permits

Midstream Assets • Waihapa Production Station – includes

facilities for gas processing, C3 plus liquids recovery, oil processing and water disposal with associated gathering and sales pipelines

Deal Terms • Purchasing Assets from Origin Energy • C$42 million plus 5% gross overriding

royalty to Origin • Expected to close in October 2012

subject to a number of conditions precedent1

1. Closing of the acquisition is targeted for October 2012 and contingent on receiving government approvals, Origin completing the current recommissioning of the TAWN LPG extraction facility, Origin and/or NZEC entering into an agreement with Contact Energy regarding the use and development of Origin’s Ahuroa gas storage facility, and standard TSX Venture Exchange approvals.

27

Transaction Rationale

Prime acreage in heart of Taranaki fairway • 26,907 acres offering 3D-defined drilling leads, well control from 27 logs and near term tie-in potential • 16 drill pads with infrastructure provide opportunity for near-term drilling and immediate tie-in of

discoveries • Significant increase to drilling inventory

• 200% increase in Mt. Messenger leads defined by 3D seismic

Accelerated tie-in timelines and cost savings for gas and liquids production • Having oil and gas gathering lines in place reduces tie-in timeline by 6 to 9 months

• $2.5 M to $3.6 M1 savings / well • Controlling midstream infrastructure could reduce processing costs by ~$0.7 M to $1.4 M1 per well

Taranaki capital program remains intact • Acquisition funded through strategic capital, working capital on hand and cash flow • Drilling eight Taranaki wells in H2-2012 • Waihapa Production Station and pipeline infrastructure will facilitate growth beyond 25,000 boe/d • Control of Taranaki oil and gas processing hub and infrastructure strategically positions NZEC

1. Present value of estimated cost savings discounted at 10%. Assumes acceleration of the tie-in of new wells, savings on pipelines and midstream cost savings.

28

Midstream Assets – Waihapa Production Station

• Waihapa oil facility • 25,000 bbl/d oil processing facility • 7,800 bbl oil storage capacity • 49-km 15,500 bbl/d oil sales pipeline from Waihapa to Omata Tank Farm

• TAWN gas facility • 45 mmcf/d LPG separation capacity • 44 mmcf/d compression capacity • 51-km 8-inch gas sales pipeline from TAWN to New Plymouth • Storage tanks for LNG, butane and propane

• Water disposal operations • 3,600 bbl water storage capacity • 18,000 bbl/d water injection capacity

• Various contracts relating to Waihapa Production Station • 100 acres of buffer fields surrounding Waihapa Production Station

29

Acquisition Purchase Price Consideration

From Initial Public Offering (August 2011) Funds allocated for acquisition Working capital and other

$2,500,000 $2,500,000

From March 2012 Financing

Unallocated working capital Castlepoint exploration (scheduled for 2013) East Coast 2D seismic savings

$19,800,000

$5,000,000 $2,200,000

$32,000,000

Anticipated cash flow from production $10,000,000

Total purchase price consideration $42,000,000

30

Board of Directors

Name Expertise Experience

John A. Greig, M.Sc., P.Geo

Chairman

• Founder and financier of numerous mining and oil and gas companies. Specializing in recognizing undervalued geological assets

• Founder, Director & Officer Sutton Resources, Cumberland Resources Ltd., Eurozinc Mining Corp., Crown Resources Corp.

John G. Proust, C.Dir. CEO

Director

•Proven track record of building companies from grass roots to advanced development. Specializes in identifying undervalued assets on a global basis

•Chairman, CEO & Director, Southern Arc Minerals Inc. •Chairman, Canada Energy Partners Inc. • Executive Chairman, Superior Mining International Corp.

Bruce G. McIntyre, P.Geol.

President, Director

•Professional petroleum geologist with over 30 years of proven exploration and development oriented value creation

•President, CEO Sebring Energy Inc. •President, CEO TriQuest Energy Corp. •President, CEO BXL Energy Ltd., • Exploration Manager Gascan Resources Ltd.

D. Kenneth Truscott Director

• Senior executive with over 30 years of corporate development and negotiation experience in the Canadian oil and gas industry

• Senior Vice President, Land & Business Development Crew Energy Inc.

• Founder, CEO Morpheus Energy Corp.

Hamish J. Campbell B.Sc. (Geology),

FAusIMM Director

•Professional geologist with 30 years of experience managing exploration programs, evaluation and assessment of joint ventures and acquisitions

•Director of a number of New Zealand limited liability mineral and petroleum companies

•Principal Indonesian mining service company • Executive Vice President, Southern Arc Minerals Inc.

31

Executive Team

Name Expertise Experience

John G. Proust, C.Dir CEO

•Proven track record of building companies from grass roots to advanced development. Specializes in identifying undervalued assets on a global basis

•Chairman, CEO & Director, Southern Arc Minerals Inc. •Chairman, Canada Energy Partners Inc. • Executive Chairman, Superior Mining International Corp.

Bruce G. McIntyre, P.Geol.

President

•Professional petroleum geologist with over 30 years of proven exploration and development oriented value creation

•President, CEO Sebring Energy Inc. •President, CEO TriQuest Energy Corp. •President, CEO BXL Energy Ltd., • Exploration Manager Gascan Resources Ltd.

Ian R. Brown, D.Eng MIPENZ

Chief Operating Officer

•Professional geological engineer •Management of technical teams

•Director, Ian R Brown Associates Ltd since 1985 •Director, Hugh Green Energy Ltd •Consultant on many resource appraisal and development

projects in New Zealand

Cliff Butchko P.Eng, MBA (Hon)

Senior VP

•Professional engineer with over 30 years experience evaluating and managing oil and gas resources

•President Omni Oil and Gas Inc. •Vice President Lexoil Inc. •Partner and Co-founder TIFF advisory group • Senior technical positions in several resource companies

Jeff Redmond, CA Chief Financial Officer

• Finance, mergers & acquisitions, and taxation •Public company reporting and assurance

• Former Director of Finance, acting CFO for Western Coal Corp •Controller for hi-tech publicly listed company •Auditor with KPMG LLP

Celeste M. Curran, B.A. (Hon), L.L.B.

VP Corporate & Legal Affairs

•Over 20 years of legal and negotiating experience specializing in major projects

•Vice President, Corporate & Legal Affairs, J. Proust & Associates • Lead counsel for City of Vancouver and City of Richmond for the

2010 Olympic and Paralympic Winter Games • Senior Solicitor, City of Vancouver

Rhylin Bailie, B.ES. VP Communications &

Investor Relations

•More than 16 years of experience in the resource industry, in both finance and investor relations

•Professional writer and editor

•Director Communications & Investor Relations, NovaGold Resources Inc.

• Supervisor Treasury Administration, Placer Dome Inc.

32

New Zealand Technical Team

Name Qualifications Expertise

Dr. Ian Brown D. Eng Chief Operating Officer; professional geological engineer

June Cahill B.Sc,

B. Applied Econ. Acquisition, management, and analysis of complex geoscience data

Bill Leask B.Sc (Hons) M.Sc (Hons)

Petroleum geology related to the East Coast and other New Zealand basins

Dr. Simon Ward B.Sc (Hons)

Ph.D Petroleum geology related to the Taranaki and other New Zealand basins

Ian Calman B.Sc (Hons) Seismic data acquisition, processing, and interpretation

Gareth Reynolds B.Sc (Hons) Geology Geoscientist with experience in New Zealand Basin analysis

Dr. Richard Kellett B.Sc (Hons), Ph.D, P.Geoph Geoscientist with worldwide exploration and business development experience

Peter Wood B.E (Hons), B.Sc ,

M.Comp.Sci Management and development of computing resources for geoscience applications

Sam Pryde B.Sc

Post.Grad.Dip. Geological investigations in the East Coast basin area

Toka Walden Senior Manager, New

Zealand Dept. Conservation

Negotiating access provisions and facilitating resource consent process, assisting with community relationship building

Collaborative Partnerships

• Forged Cooperation Agreement with New Zealand iwi partners

• Employ more than 70 people from local communities

• Committed to bringing long-term benefits to community partners

Cooperation Agreement Meeting February 22, 2012

33

34

New Zealand Advantage

• Proven hydrocarbon systems with multi-zone potential

• Brent pricing environment with top-tier netbacks

• Favorable royalty and tax structure

• Proactive Government approach to exploration and development

• Established infrastructure with capacity

35

New Zealand Market for Oil & Gas

New Zealand Market for Oil • Significant net importer of oil

• Production of ~55,000 bbl/d exclusively from the Taranaki Basin

• Current demand is ~150,000 bbl/d • Premium pricing environment

• NZEC oil production sold at Brent • Premium to WTI

New Zealand Market for Gas • Demand and infrastructure supported 460 million cf/d

of production and sales within domestic marketplace in 2009

• Excess demand environment • Methanex methanol production facility at 40%

capacity, requires additional ~120 million cf/d for full capacity

Oil Infrastructure

Shell Operated Export Hub

Source: IEA

36

Cautionary Note Regarding Reserve & Resource Estimates A prospective resource is defined as those quantities of petroleum estimated, as of a given date, to be potentially recoverable from undiscovered accumulations by application of future development projects. Prospective resources have both an associated chance of discovery and a chance of development. Prospective resources are further subdivided in accordance with the level of certainty associated with recoverable estimates assuming their discovery and development and may be sub-classified based on project maturity. There is no certainty that any portion of the resources will be discovered. If discovered, there is no certainty that it will be commercially viable to produce any portion of the resources. In April 2012, NZEC released its 2011 year-end reserve and resource estimation and economic evaluation (the “Report”), prepared by Deloitte & Touche LLP (“AJM Deloitte”). The reserve estimate and economic evaluation was confined to NZEC’s 100% working interest Eltham Permit (PEP 51150) and was based on the reservoir and production data from the Copper Moki-1 well with a December 31, 2011 cut-off. The oil and gas reserves calculations and income projections, upon which the Report was based, were estimated in accordance with the Canadian Oil and Gas Evaluation Handbook (“COGEH”) and National Instrument 51-101 (“NI 51-101”). The term barrels of oil equivalent (“boe”) may be misleading, particularly if used in isolation. A boe conversion ratio of six Mcf: one bbl was used by NZEC. This conversion ratio is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Reserves are estimated remaining quantities of oil and natural gas and related substances anticipated to be recoverable from known accumulations, as of a given date, based on: the analysis of drilling, geological, geophysical, and engineering data; the use of established technology; and specified economic conditions, which are generally accepted as being reasonable. Reserves are classified according to the degree of certainty associated with the estimates. Proved Reserves are those reserves that can be estimated with a high degree of certainty to be recoverable. It is likely that the actual remaining quantities recovered will exceed the estimated proved reserves. Probable Reserves are those additional reserves that are less certain to be recovered than proved reserves. It is equally likely that the actual remaining quantities recovered will be greater or less than the sum of the estimated proved plus probable reserves. Possible Reserves are those additional reserves that are less certain to be recovered than probable reserves. There is a 10% probability that the actual remaining quantities recovered will exceed the sum of the estimated proved plus probable plus possible reserves.

37

Contact NZEC

Corporate Head Office John Proust, Chief Executive Officer Bruce McIntyre, President Rhylin Bailie, VP Investor Relations NA Toll-free: 1-855-601-2010 info@newzealandenergy.com

New Zealand Office Ian Brown, Chief Operating Officer Tel: + 64-4-471-1464 NZ Toll-free: 0800-469-363 www.NewZealandEnergy.com