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

November 2011

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

investment highlights

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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

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strategy

Deep water exploration with

significant potential resources… Total area of 10,900km2

(2.7 million acres)

Operator and 75% interest holder

3,570km2 of modern 3D seismic

Several leads & prospects supported by Direct Hydrocarbon Indicators (DHI’s)

Toubkal prospect with potential for hundreds of millions of barrels of oil

Comparable to the billion barrel Jubilee field in Ghana – the largest oil discovery in West Africa in the past decade

Internationally competitive fiscal terms

Significant increase in transactional activity in recent months

REPSOL GAS

DISCOVERY

KOSMOS

ACQUIRED IN

JULY 2011

ONSHORE

OIL AND

GAS FIELDS

CAP

JUBY OIL

FIELD

OIL FIELD GAS FIELD

AFRICA

KOSMOS

FARMIN

SEPT 2011

ANADARKO

ACQUIRED IN

OCT 2011

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Mazagan offshore area

PROSPECTS & LEADS

MIOCENE LOWER CRETACEOUS Sources: RISC Independent Resource Assessment – Sep 2011 & Pura Vida lead estimates

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

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recoverable resources

Damon Neaves Managing Director

Formerly BDM for Tap Oil

Led Business Development,

Commercial and Legal teams

during 8 year tenure at Tap

Several major acquisitions,

many involving entry into new

countries: Thailand, Ghana,

Indonesia, Brunei, Philippines,

Australia & NZ

Upstream project

management experience

Legal/corporate advisory

background

David Ormerod Technical Director

Over 25 years experience in

the oil and gas sector

Participated in several major

discoveries over his career

Responsible for Karoon Gas’

entry into Brazil which saw a

period of dramatic growth in

shareholder value

Experience with BHPBP,

Woodside, Stirling and Tap in

areas as diverse as the Gulf of

Mexico (GoM), West Africa, SE

Asia and the NW Shelf

Bevan Tarratt Chairman

Accounting industry

background primarily focused

on small/mid cap resource

companies

Founding partner of

Hemisphere (cornerstone

investor in Pura Vida)

Equity markets experience with

Patersons Securities

Managed IPOs, secondary

raisings and re-structuring of

numerous ASX listed

companies

Director of a number of

Australian public companies

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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

board and management

$2.6m cash on hand plus IPO funds will be used to fund the Mazagan work programme ($3.6m), repay shareholder loans ($700k), and meet working capital requirements

In addition, Mr Neaves and

Mr Ormerod will share equally in at total of 10m performance rights and 5m options at 40c which are subject to

performance-based vesting conditions

Tight capital structure provides shareholders with significant

leverage in success case

NO.

(MILLIONS)

RAISED

($M)

UNPAID

($M)

CURRENT

Partly paid shares1 22.9 0.2 4.4

Fully paid shares2 20.3 3.2 -

TOTAL (CURRENT) 43.2 3.4 4.4

PRO FORMA

Partly paid shares 22.9 0.2 4.4

Fully paid shares3 40.3 7.2 -

TOTAL (PRO FORMA) 63.2 7.4 4.4

1. Partly paid shares are paid to 1c and payable to 20c within 5 years. These shares carry voting rights but will not be quoted on ASX unless and until they are fully paid up

2. Approximately 90% of the fully paid shares were issued at $0.16 per share

3. Assumes an IPO of 20m shares at 20c to raise $4m

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capital structure (indicative only)

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Combined structural/stratigraphic

traps supported by DHI’s on 3D

seismic have been drilled with

considerable success in NW Africa

AMPLITUDE SCALE

LOW

(WATER)

MODERATE

(OIL)

HIGH

(GAS)

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seismic amplitudes on Toubkal

A’ A’

A

A’

Gas

Oil

Water

3D SEISMIC LINE SEISMIC AMPLITUDE MAP

Salt

FIT TO

STRUCTURE

OIL ON WATER

RESERVOIR

Amplitude cut-off at common depth…

10

hydrocarbon fill

Strong conformance of high amplitudes and structural closure…

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ZAGORA mmbbl

BLUE POLYGON (P90) 13

RED POLYGON (P10) 95

MEAN 47

AMCHAD mmbbl

BLUE POLYGON (P90) 8

RED POLYGON (P10) 81

MEAN 38

Zagora and Amchad

TERM WORK OBLIGATIONS COST*

(US$M)

1st Term (24 months) • 50 drop cores (sea bed samples) • Reprocess 3,000 km2 to pre stack depth and

detailed seismic inversions

• Geological studies

1.01

2.15

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*

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 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

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title and work program

Pura Vida Energy

Oct Nov Dec Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

2012 2013

Timeline

Acquisition of Mazagan Project

2011

Second exploraiton period commences

Seismic reprocessing

Farmout

Drop core program

Admission to ASX

Potential acquisition of new project

Exploration well(s)

Review of prospects & forward program

IPO offer period

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DIVERSIFY

PORTFOLIO

KEY RESULT: IMPROVE

RISKING/CHANCE OF SUCCESS

ON MAIN PROSPECTS

TESTING FOR

OIL SEEPS

SECURE FUNDING

FOR DRILLING

PROGRAM

DRILLING WILL TARGET SEVERAL HUNDRED

MMBBL (NET)

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

news and events

INTERNATIONALLY COMPETITIVE FISCAL TERMS

• State (ONHYM) is carried through exploration for 25%

• Royalty rates:

• 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)

VOLUME ROYALTY

Oil First 500,000 tons (4 mmbbls) Thereafter

0% 7%

Gas First 500 mmcm (18 Bcf) Thereafter

0% 3.5%

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fiscal terms

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 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

Phosphates (after the US)

Sovereign risk amongst lowest in Africa

European based laws

ENERGY INFRASTRUCTURE IN MOROCCO

Gharb gas fields

Meskala Gas Fields

Sidi Rhalem Oil Field

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Morocco

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.

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disclaimer

Directors

Damon Neaves, Managing Director David Ormerod, Technical Director Bevan Tarratt, Non-Executive Chairman

Corporate Advisor

Hemisphere Corporate Services

Exchange

ASX (Listing in Dec‘11) Proposed Code: PVD

Head Office

Level 8, 225 St Georges Terrace Perth WA 6000

t +61 89486 4036 f +61 89486 4799 dneaves@puravidaenergy.com.au

Issued Capital

41.7m shares (as at Oct ‘11) 63.7m shares (post-IPO*)

* Estimate based on a $4m IPO raising

Net Cash

$2.6m (as at Nov ‘11) $4.4m unpaid capital

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corporate information