An Asia Pacific Upstream Company

Delivering Exceptional Margins and Returns

Through Knowledge, Experience and Capability
 Disclaimer & Important Notes

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could cause actual results to differ materially from those anticipated by the Company including, but not limited to, risks associated with the oil and gas industry (e.g. operational risks in exploration and production; inherent uncertainties in interpreting geological data; changes in plans with respect to
exploration or capital expenditures; interruptions in operations together with any associated insurance proceedings; reductions in production capacity; the uncertainty of estimates and projections in relation to costs, expenses and health, safety and environmental risks); the risk of commodity price and
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as that term is defined in Regulation D promulgated under the Securities Act.

2
 Disclaimer & Important Notes

THE SECURITIES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION OR ANY STATE SECURITIES COMMISSION NOR HAS THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION OR ANY
STATE SECURITIES COMMISSION PASSED UPON THE ACCURACY OR ADEQUACY OF THIS COMMUNICATION. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.
Included herein is certain data regarding Jadestones 2017 and 2018 production, revenue and cash inflows and outlows and assuming completion of the Block 05-1 acquisition, as well as an estimate that Jadestone anticipates being in a free cash flow positive position by 2018 as well as
Jadestone's projected free cash flow position beyond 2018. Such projection is based on Jadestone's anticipated cash flow from operations following completion of the acquisitions and transactions contemplated herein, commodity price assumptions stated herein and any other relevant
assumptions stated herein. To the extent such projection constitutes future-oriented financial information or a financial outlook, it was approved by management of Jadestone on August 30, 2016 and such future-oriented financial information or financial outlook is included herein to provide readers
with an understanding of Jadestone's anticipated results of operations and free cash flow based on the various assumptions utilized and readers are cautioned that the information may not be appropriate for other purposes.
Oil, Natural Gas and Natural Gas LiquidsInformation
The oil, natural gas and natural gas liquids information in this Presentation has been prepared in accordance with National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities and the Canadian Oil and Gas Evaluation Handbook (the "COGE Handbook"). Terms related to
resources classifications referred to in this document are based on definitions and guidelines in the COGE Handbook which are as follows.
"Contingent resources" are those quantities of petroleum estimated, as of a given date, to be potentially recoverable from known accumulations using established technology or technology under development, but which are not currently considered to be commercially recoverable due to one or more
contingencies. Contingencies may include factors such as economic, legal, environmental, political, and regulatory matters or a lack of markets. The estimated discovered recoverable quantities associated with a project in the early evaluation stage may also be classified as contingent resources.
"Prospective resources" are 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 (geological chance of success)
and a chance of development (economic, regulatory, market, facility, corporate commitment or political risks). The chance of commerciality is the product of these two risk components. The prospective resource estimates referred to herein have not been risked for either the chance of discovery or
the chance of development. There is no certainty that any portion of the prospective resources will be discovered. If a discovery is made, there is no certainty that it will be developed or, if it is developed, there is no certainty as to the timing of such development or that it will be commercially viable to
produce any portion of the prospectiveresources.
Figures related to Jadestone's resources are derived from the Competent Persons Report titled "Resource Assessment of the Assets of Jadestone Energy Limited" authored by Senergy (GB) Limited ("Senergy"), an independent qualified reserves and resources evaluator dated April, 2016. Figures
relating to reserves are derived from the report entitled "Independent Technical Expert's Report WA-15-L Production License, offshore Western Australia" authored by Gaffney Cline & Associates, an independent qualified reserves evaluator dated July 25, 2016 and effective as of July 1, 2016. There is no
assurance that the forecast prices and costs assumptions applied by Jadestone's independent reserves and resources evaluators in evaluating the resources and reserves of the Company will be attained and variances could be material. The recovery and estimates of Jadestone's resources provided in
this Presentation are estimates only and there is no guarantee that the estimated resources will be recovered. Actual resources may be greater than or less than the estimates provided in this Presentation, and the differences may be material. A copy of the reports may be obtained from Jadestone and
may be inspected at Jadestone's registered office during usual businesshours.
The discounted and undiscounted net present value of future net revenues attributable to Jadestone's resources do not represent the fair market value of the Company's resources. Information relating to resources is deemed to be forwardlooking information, as it involves the implied assessment,
based on certain estimates and assumptions, that the resources described exist in the quantities predicted or estimated, and can be profitably produced in the future.
A barrel of oil equivalent ("BOE") is determined by converting a volume of natural gas to barrels using the ratios of six thousand cubic feet ("Mcf") to one barrel. BOEs may be misleading, particularly if used in isolation. A BOE conversion ratio of 6 Mcf:1 BOE is based on an energy equivalency
conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Given that the value ratio based on the current price of oil as compared to natural gas is significantly different from the energy equivalency of 6:1, utilizing a conversion on a 6:1 basis
may be misleading as an indication of value.
The estimates of resources and future net revenue for individual properties contained in this Presentation may not reflect the same confidence level as estimates of resources and future net revenue for all properties, due to the effects of aggregation. Welltest results are not necessarily indicative of
longterm performance or ultimate recovery.
Recipients of this document are specifically referred to the risk factors and descriptions of the uncertainties and significant positive and negative factors associated with the estimates of resources described herein. A description of the risks and level of uncertainty associated with recovery of the
resources, the significant positive and negative factors relevant to the estimates of the resources and the contingencies which prevent the classification of the contingent resources as reserves is contained herein under the heading "Factors Affecting Contingent and Prospective Resources."
Certain figures contained in this Presentation, including financial and oil and gas information, have been subject to rounding adjustments. Accordingly, in certain instances, the sum or percentage change of the numbers contained in the Presentation may not conform exactly with the total figure given.
Contingent resources are those quantities of petroleum estimated to be potentially recoverable from known accumulations using established technology or technology under development, but which are not currently considered to be commercially recoverable due to one or more contingencies. "Low
Estimate (1C)" is considered to be a conservative estimate of the quantity that will actually be recovered. It is likely that the actual remaining quantities recovered will exceed the low estimate. If probabilistic methods are used, there should be at least a 90 percent probability (P90) that the quantities
recovered will equal or exceed the low estimate. "Best Estimate (2C)" is considered to be the best estimate of the quantity that will actually be recovered. It is likely that the actual remaining quantities recovered will be greater or less than the best estimate. If probabilistic methods are used, there should
be a 50 percent probability (P50) that the quantities recovered will equal or exceed the best estimate. "High Estimate (3C)" is considered to be an optimistic estimate of the quantity that will actually be recovered. It is unlikely that the actual remaining quantities recovered will exceed the high estimate. If
probabilistic methods are used, there should be at least a 10 percent probability (P10) that the quantities recovered will equal or exceed the high estimate. There is uncertainty that it will be commercially viable to produce any portion of the resources classified as DPIIP including those further sub-
classified as contingentresources.
Factors Affecting Contingent and Prospective Resources
The U Minh and Dam Du accumulations in Vietnam are classed as "Contingent Resources, Development on Hold". Although development is not yet approved, there are advanced development studies that are supportive of a potentially economic project, and the operator and the Vietnamese
authorities have indicated the intent to progress to development. The contingencies that prevent the classification of these contingent resources as reserves include a requirement for third party provision of pipeline infrastructure, the need to finalize a gas sales purchase agreement, further review and
refinement of the CAPEX assumptions, and joint venture approval.
The Tho Chu accumulation in Vietnam is classed as "Contingent Resources, Development Unclarified" and economic status undetermined. The subsurface assessment of Tho Chu is work in progress and consequently the project is currently at an early stage of evaluation. The additional non-
technical contingencies include the requirement for third party development of export route infrastructure, a gas sales purchase agreement is yet to be agreed, the project CAPEX will be subject to further review and refinement, and joint venture approval.
The Dabakan and Palendag accumulations in the Philippines are classed as "Contingent Resources, Development on Hold". The contingencies include the potential for the low, best, and high estimates to change, with a resulting consequence that the chance of commercial development may be
reassessed. At this stage, it is unclear whether further appraisal drilling will be proposed by the new operator Total. There is a market access contingency as a new pipeline is required for development to proceed. Other contingencies include the requirement to finalize a gas sales purchase agreement,
the CAPEX assumptions will be subject to further review and refinement, and the need for both internal and external approvals.
The Halcon prospect in the Philippines is currently the strongest candidate for the next exploration well in SC 56. In August 2014, TOTAL committed to the drilling of the Halcon prospect under the terms of the 2012 Farm-In Agreement. Key risks associated with Halcon are mainly related to charge which
requires lateral migration from a deeper kitchen in the northwest unless a deep source below the area is present. Underlying structural highs could provide a migration focus.
NPV Warning
The Company determined the future net revenue and present value of future net revenue after income taxes by utilizing Jadestone's before income tax future net revenue and estimate of income tax. The estimates of the after income tax value of future net revenue have been prepared based on before
income tax reserves information. The values shown may not be representative of future income tax obligations, applicable tax horizon or after tax valuation. The after tax net present value of the Company's properties reflects the tax burden of its properties on a stand-alone basis. It does not provide an
estimate of the value of the Company as a business entity, which may be significantly different.

3
Opportunity Overview
New leadership team with a proven track record of delivering superior returns across
Asia Pacific through operating capability, technical excellence and strategic relationships

Stag Oil FieldAcquisition Closed on Nov 11, 2016

1) New
Leadership:
World Class APAC
Focused Team 2) Major
6) Resilient Strategic Shift:
Balance Sheet: End to End
Zero Debt & Fully Operating
Funded Capabilities.
Focus on
Margins

3) Accretive
5) Production & Growth:
Cash Flow Today:
M&A Pipeline with
Stag Oil Field Trapped Value for
Acquisition at a Strong &
< $1/bbl 1P Experienced
4) APAC Focus:
Reserves Operator
Industry Leading
Margins & Returns.
Consistent with
Managements
Track Record

100% interest in the Stag Oil Field, located offshore Western Australia in the Carnarvon Basin

4
 Portfolio Overview
Snapshot/key metrics

Select blocks, ordered by expected commercialization1

W.I. 2P 2C Production /
MVHN/12KS Block Operator
(%) (mmboe) (mmboe) Status
14.6 6.0
Stag 100% Jadestone 3,000-3,500bbl/d
(100%) (100%)
05- 40.1 Subject to pre-
30% N/A Idemitsu
1b&c (17.7%) emption2
127
Nam N/A 16.1 Sanction
70% Jadestone
Du (0%) 2018/2019
45 05-1b&c2
51 7.9 Sanction
46/07 SC56 U Minh 70% N/A Jadestone
Core (6.3%) 2018/2019
area Suspended
Tho 52.8 development
70% N/A Jadestone
Chu (17.8%) pending new
pipeline availability
25.7 Subject to further
SC56 25% N/A TOTAL
(6.5%) appraisal

Bone
10% 7%

8% Stag

05-1b&c
8%
NAV = Nam Du
US$922mm3 37%
U Minh
Core 9%
area Tho Chu
Stag SC56
3
22% Upside
1 2P reserves and/or 2C resources are per independent reserves evaluations by Gaffney Cline & Associates (Stag, as at 1 July, 2016), ERC Equipose (05-1b&c, as of 1 July 2016) and LR Senergy (Nam Du, U
Minh, Tho Chu, SC56, as of 5 April 2016). Per cent. amounts in italicized brackets represent the portion of estimated volumes comprising liquids
2 The proposed acquisition of 05-1b&c remains subject to statutory pre-emption by Petrovietnam under Vietnamese law
3 NAV excludes cash on hand and are based on management base case, see further slide 19. Upsides comprise the remaining unrisked Hart upside and Nam Du upside

5
New Leadership
Paul Blakeley brings a wealth of knowledge and experience to Jadestone with
an impressive track record running Talismans APAC business

Jadestone Energy guided by Paul Blakeley, who Talisman Asia Pacific Production
ran Talismans Asia Pacific business from 2005 140
and had spent the prior 30 years working at
Talisman (TLM) and a number of IOCs. Other
members of the proposed team specifically 120 11% CAGR last 10 Years
commercial, technical and country managers

Production per day (mboe/d)

have been identified by Paul from the former
Talisman team and have an intent to join 100
Paul Blakeley Jadestone Energy as the business grows
Executive
Paul and his leadership team built TLM Asia 80
Chairman
Pacific from a two-asset business with ~45 mboed 18% CAGR over 20 Years
into a 500 mmbbl 2P / 150 mboed / ~$6-7 bn NAV
/ high ROC / high cash generation portfolio, 60
virtually independent of the TLM parent. It grew
through discoveries and acquisitions, and
40
delivered on improving performance in all
operated and acquired assets
This created Asia Pacifics largest and most 20
successful, predominantly operated, E&P business
in the last 10 years, generating production CAGRs
0
of over 11%, annual free cash flow in excess of
US$500 mm, and multiples of capital invested
1993 1998 2003 2008 2013
greater than 3x Indonesia Malaysia Australia Vietnam

Talisman Asia-Pacific Timeline

May 1993 Aug 1994 Oct 1998 Aug 2001 Sep 2003 Oct 2005 Jan 2010 Apr 2011 Oct 2011 Dec 2012 May 2013 Jun 2013
Entry into Acquired interests Corridor Gas Project Acquired block PM-3 CAA project, Acquired interests in Acquired Jambi First oil from Awarded Firstoil Red
Indonesia in Corridor & OK commissioned PM-3 CAA, producing over 19 Southeast Sumatra, Jambi Merang Merang first Kitan Kinabalu PSC from Emperor
Block Malaysia mboe/d inQ4 ONWJ & Australia PSC gas HST/HSD acquisition

6
Core Management Team
Paul Blakeleys leadership is augmented by a management team with
significant operational and technical experience

Experience
Core Management Previous Employers Experience (Years)

Paul Blakeley 35
Executive Chairman
Michael Horn
25
Interim CEO
Dan Young
21
CFO
Ha Nguyen
13
Commercial Manager
Mark Robertson
30
General Manager Australia
Henning Hoeyland
17
Subsurface Manager

Management's Track Record and Capability

Strong ex-Talisman influence in current management team with rare blend of technical, operating and commercial capabilities
Track record of delivering projects on budget, safe production and reservoir excellence
Complete end-to-end technical, commercial and operating capabilities
Recognized leaders in their country/region and/or in their core capability
Deep long-standing relationships built over decades
Have coached and mentored many NOC decision-makers
Enjoy widely held relationships across Asia founded on time, trust and delivery

7
Jadestone Strategy
Asia-Pacific focused strategy with a proven business model to create
exceptional value for investors

Asia-Pacific Strategy History of Value Creation (Talisman)

Balanced portfolio of production and development assets with 1,200 Value Creation Levers
some future growth from low risk exploration 2.3x
Stag provides initial production and cash flow to support Step-Out Exploration

development Commercial
4.8x
Block 05-1 provides significant size, scale and material value to 1,000 2.2x
current development portfolio Improved Recovery

Focus on core operating areas consistent with managements prior Appraisal

track record
800 Project Execution
Basins where Jadestone has prior operating experience, technical
knowledge, relationships and a history of value creation Incumbent / Initial Value

NPV10 ($mm)
Asia-Pacific has historically outperformed other upstream regions
Resilient economics and cash flows, even with volatile oil prices 600 Total Value vs. Initial
Value
Significant energy demand with progressive PSC fiscal terms
Opportunistic M&A market conditions
(1)
Many low-priced options available in Jadestones core geographic 3.0x
400
focus area, including assets in the second phase of their life cycle
8.0x
Must meet Jadestones strict investment criteria
Growing vacuum of operating capability, particularly for larger
and more complex projects 200
NOCs and host nations need urgent help to balance growth,
domestic production and their own substantial organic investment
demands
Value creation through multiple operational and technical levers 0
Recent Cross-Border Stranded Oil Discovered Oil Stalled
Best-in-class second phase operator of choice Disposition by Expiring PSC Discovery in in Cuu Long Development
Improve margins with focussed attention throughout each phase of North American Nam Con Son Onshore
an assets life-cycle Independent Sumatra

Maintain a resilient Balance Sheet (1) Additional value potential in the event of PSC extension

8
Leading Economics: APACs Pricing Advantage
Asia Pacific has on average, been the most profitable region in the upstream
world for the past several years

Net Income by Region, US$/boe

7-Year
Region 2009 2010 2011 2012 2013 2014 2015 Avg
Asia Pacific $14.47 $20.58 $25.63 $25.68 $21.30 $19.42 $3.91 $18.71
Africa & Middle East $11.09 $15.85 $23.17 $21.66 $19.57 $12.54 ($4.24) $14.23
Europe $10.28 $13.11 $17.61 $19.20 $16.65 $10.78 $4.09 $13.10
South & Central America $6.98 $10.91 $16.94 $16.19 $11.81 $7.81 ($13.57) $8.15
Russia & Caspian $9.74 $10.89 $13.69 $12.05 $10.69 $7.94 $5.35 $10.05
United States $1.81 $11.59 $12.25 $5.77 $8.34 $5.44 ($26.40) $2.69
Canada $4.26 $11.74 $8.97 $1.39 $5.89 $7.58 ($14.26) $3.65

Worldwide $7.86 $12.88 $16.56 $14.23 $13.07 $9.50 ($7.83) $9.47

Source: IHS

Asia Pacific Highlights

Asian economies are still leading global growth and supporting increased energy demand

Growing energy supply gap, energy security and optimising National resource development result in rising prices for domestic gas

Stable and attractive fiscal regimes underpinned by wide range of fit-for-purpose PSCs

Well established supply chain capability with low labor costs

9
 New Management in Place for Two Quarters
Select highlights

Recorded zero reportable incidents across portfolio

HSE Maintained consistent zero annual TRIR for Stag

Corporate Formulated new strategy by management, and adopted by Board: building a balanced portfolio of
Strategy production and development assets, with additional future growth from low risk exploration

Accelerated organic opportunities by progressing commercialisation of Nam Du and U Minh

Accelerated
Portfolio Focus developments
Advanced applications for license extensions, sell/farm-downs, or relinquishment

Reduced FTEs by almost 50%, from 59 to 32 like-for-like (i.e. excluding those employees taken on as
G&A Reduction part of the Stag acquisition)

Closed Stag acquisition Nov 2016

FCF Generation Progressing our work with NOPSEMA (the regulator) according to plan, for title transfer

Large Near Term Announced acquisition of 30% participating interest in Vietnam block 05-1b&c, a 198 bcf 2C (net to
Development Jadestone) domestic gas project

Balance Sheet Debt free today with cash in hand

Resiliency Executed US$40 mm non-brokered equity placement + US$28 mm convertible (undrawn) in Nov 2016

Highgraded shortlist of potential M&A acquisition opportunities

Inorganic Growth Analysing opportunities with greatest potential for margin improvement and accretive value growth

10
 Jadestones Existing Gas Discoveries in the Vietnam
Malay Basin

Reserves Assessment Report (RAR) has been approved by Prime Minister; ODP submitted to
Petrovietnam with project sanction expected in 2018-2019
Tho Chu
U Minh
Field
Field

expanding to 245 mmscf/d

Overlapping

PM-03line, 215 mmscf/d,

Claims Area (OCA)
Nam Du
Block Field
Thailand 45
PM3 (18) Vietnam Block 51
215 mmscfd
Cambodia (expands to
245 mmsfcd)

Block
MTJDA
Block B, (28) 46/07

Thailand Planned
~500 mmscfd

Working Interests
Vietnam

Block W.I. (%) 2C (bcfe)1 Operator Partner

Block 51 PSC 70% 363 Jadestone PVEP

Block 46/07 PSC 70% 97 Jadestone PVEP

51 45

Block 45 PSC 70% N/A Jadestone PVEP

1 2C resource estimates per LR Senergy Competent Persons Report dated 5 April, 2016
46/07
46/07

Jadestone Licenses Existing Gas Power Plants

PM-03
MTJDA
Gas Fields Planned Gas Power Plants

Existing Pipeline Planned Gas Processing Plants

Planned Pipeline Fertiliser Plants

11
The Evolution of Vietnams Domestic Gas Market
Recent gas MOUs have purportedly been signed at up to c. $9/mmBTU

Vietnam Wellhead Gas Pricing, US$/mmBTU Vietnam Southeast Gas Supply & Transportation Capacity, mmscfd

$/mmBTU (2016 real) mmscfd

14 1,600
Signed Contracts Under Negotiation Alternative Fuels Contracted SupplyNCSP1 Contracted SupplyNCSP2

8-12 1,400
12

8-10 1,200 NCSP2 Capacity: 685 mmscfd

10 Phase 1 (to Bach Ho) completed.
1,000
Phase 2 expected on-stream 2020
Est. gas price range $7-8/mmBTU
8

800

6
600 NCSP1 Capacity: 770 mmscfd

4
400

2
200

0 0
Pre-2000 2009 2012 2013 2016 2017 Ongoing Gas price LNG 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030
to imported
displace price2
1
coal

Recent established domestic gas price ranging from $7-$8/mmBTU Urgent need for new Southeast gas to backfill existing supply and
meet increasing demand
Projects under negotiation indicate more room for price to move
Available ullage in existing pipelines, while NCSP2 Phase 2 will
Alternative fuels (imported coal and LNG) underpin further upside
add significant transportation capacity (aggregate of 1,455mmscfd
in 2020)
1 Includes an assumed imported coal price of $60-$70/tonne (FOB) for Indonesia sub-bit coal
2 Includes estimated shipping and regasification costs

12
 Stag Oil Field Overview
First acquisition demonstrates new managements ability to execute on its
growth plan within two months of joining Jadestone

Stag Oil Field Acquisition Highlights Production Platform and FSO

Purchase price of US$10mm

100% operated interest

New managements first transformational step

Immediate cash-flow generation from existing production

Projected to be after capex free cash flow positive by 20181

Significant low-risk in-field development drilling opportunities

Low risk exploration extensions at Hart and Stag South

Multiple follow-on acquisition opportunities available

Key Acquisition Multiples Amount Multiple

3,000- $3,333-
Production
3,500bbl/d 2,857/flowing bbl

Proved reserves2 10.1mmstbbl $0.99/bbl

Proved + probable reserves2 14.6mmstbbl $0.69/bbl

Proved + probable + possible

18.6mmstbbl $0.54/bbl
reserves2

1Based on internal projections using real dated Brent pricing (US$) of: $45-$54-$61-$63-$65/bbl for 2016-2017-2018-2019-2020+
2Reserves volumes are per Gaffney Cline & Associates, as at 1 July, 2016, prepared in accordance with National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities and the COGE Handbook.
Possible Reserves are those additional reserves that are less certain to be recovered than probable reserves. There is a 10% probability that the quantities actually recovered will be equal to or exceed the sum of
proved plus probable plus possible reserves

13
 Stag Oil Field Overview (Contd)
Stag Oil Field is located in the Dampier Sub-Basin of the prolific
Carnarvon Basin

Located 60 km offshore Western Australia in the Carnarvon Basin, water depth of ~47 meters
Producing since 1998, gross production in excess of 62 mmbbl of oil, current production ~3,000-3,500bbl/d
Strong Field 2P reserves of ~14.6mmstbbl1, with 3P reserves in the order of 18.6mmstbbl1
Track Record High porosity & permeability reservoir
Substantial volume increases through successful JV development of the field and prolonging field life through infill drilling

Several additional infill drilling value-add opportunities

Near-term
2014 acquired 3D broadband seismic data, interpreted in 2015, has provided improved resolution across the field, highlighting
Development potential field extensions with reserve adds
Upside Stag South field extension and Hart near field exploration/appraisal

Shallow reservoir depth enables field development activities, including infill drilling and work-overs, to be carried out
expeditiously and cost effectively
Low Operating
Estimated break even oil price of US$38.50/bbl at 2017 planned production rate of 3,500bbl/d. With additional infill drilling
Cost increasing production to 4,500bbl/d, the break even oil price falls to US$30//bbl
Economic cut-off is estimated at around 2027-2029 under Jadestones 2P scenario

Hydrocarbon quality has historically sold at a premium to Dated Brent to North Asian power stations configured specifically for
Premium heavier crudes
Most recent sale at a more than $3/bbl premium (circa 5.7% premium to prevailing Brent price)
Pricing
Strong exposure to the potential growth in oil price

1Reserve volumes are from the report of Gaffney Cline & Associates, independent reserve evaluators, as at 1 July, 2016, prepared in accordance with National Instrument 51-101 Standards of Disclosure for
Oil and Gas Activities and the COGE Handbook. Possible Reserves are those additional reserves that are less certain to be recovered than probable reserves. There is a 10% probability that the quantities
actually recovered will be equal to or exceed the sum of proved plus probable plus possible reserves.

14
Vietnam Block 05-1 Acquisition Overview
Having secured a solid operating platform with Stag, Block 05-1 provides Jadestone
with complementary near term development and material value accretion

Acquisition Overview1 Nam Con Son Basin

US$14.3mm purchase price Phu My
(3900 MW)
30% working interest in blocks 05-1b and 05-1c PSC Nhon Trach
(1200 MW)
198bcf natural gas + 7mmbbls liquids 2C resource (net to Jadestone)

Vendor: Inpex

Strategic Rationale
1) Near-term development with low-risk upside potential
NCSP2 (Phase 1 from Thien
Significant undeveloped resource base with volumes of gas capable Ung to Bach Ho completed)

of being developed quickly and at highmargins

2) Further strengthens Jadestones position in Vietnam Dai Nguyet (DN) Block 05-1b & 1c

Consolidates upon Jadestones existing U Minh and Nam Du

Sao Vang (SV)
gas discoveries in the Malay Tho Chu Basin

3) Material value accretion to Jadestones portfolio KP75 tie-in point to NCSP1

Strategic and complementary follow-on acquisition to the mature Stag

Oil Field acquisition

4) Development of gas into the Vietnam market provides a natural

hedge to oil prices in todays volatile global commodity market Gas-fired Power Plants

Existing Pipeline
Assets are strategically positioned in close proximity to the Nam
New Pipeline
Con Son pipeline which delivers gas to existing markets

1The proposed acquisition remains subject to a statutory pre-emption right held by Petrovietnam under Vietnamese law. If Petrovietnam were to pre-empt, they would be required to match the terms agreed by
Jadestone and Inpex in the SPA. Completion of the proposed acquisition remains conditional on obtaining all required approvals, including the approvals of the Government of Vietnam, the Vietnam Oil and Gas
Group and partners. 2C resource estimates per the independent qualified reserve evaluator, ERC Equipoise Pte. Ltd ("ERCE"). ERCE's resource assessment is dated effective as of 1 July, 2016 and was
prepared in accordance with the definitions, standards and procedures contained in the Canadian Oil and Gas Evaluation Handbook and complies with National Instrument NI 51-101 - Standards of Disclosure for
Oil and Gas Activities

15
 Vietnam Block 05-1 Credentials
Jadestone offers unique credentials to support optimal outcomes for this
project

Extensive understanding of Nam Con Son basin geology and relevant analogues
Subsurface
Commercial discovery of Ca Kiem Den in 2015, additional wells drilled with gas shows in
Understanding 2011/2012

Deep experience in developing and operating complex oil and gas projects in the region
Project PM3-CAA has 150+ reservoirs within the license, which are managed as part of the overall
Development & development, including 13 platforms with world-leading CO2 and mercury handling facilities
Operating Track record of successful project delivery and dealing with local EPCI contractors
Experience HST, HSD and Song Doc discoveries all brought to first oil in less than 18 months, ahead of
schedule and under budget with all work undertaken by local EPCI contractors

Jadestones team has deep gas commercialisation experience generally, and in Vietnam specifically
Strong understanding of Vietnam gas market includes
Commercial
10+ years gas supply from PM3-CAA to Ca Mau
Capabilities
Recent Ca Rong Do (Red Emperor) gas commercialization
Additional resource commercialisation via Nam Con Son gas-to-power strategy

Longstanding relationship with Petrovietnam and host authorities

Stakeholder Trusted by all stakeholders as competent operator in Vietnam
Relationships Respected individuals with background as former management team member at the NOC and
government authority

16
 Future Asia-Pacific Opportunities
Jadestone is focused on known basins where we can deploy our
operating and commercial skills to unlock trapped value

Select South East Asia Opportunities Select comments

Any potential opportunity must meet Jadestones
Near sanction project providing
strict threshold acquisition criteria
infrastructure hub combined
with near field discovery and Near term emphasis on production/free cash
low risk exploration
flowing assets
Target Mature oil asset with identified
Area opportunities for recovery
enhancement
Potential for significant growth through acquiring
Target
Target Area and exploiting areas that match with
Area Low cost oil production with managements prior track record
reserves upside

Gas discoveries ready for

Strong pipeline of acquisitions currently being
commercialization evaluated by management
Target
Oil producing asset with
Area
substantial reserves currently
Potential to build 2-3 free cash flowing businesses
lacking investment with multiple growth opportunities to deliver
exceptional value and returns
Mature oil & gas basin with
multiple paths for gas
commercialization and several Opportunities have been identified to focus on infill
assets with trapped value to be
unlocked drilling and secondary and tertiary recovery
Target
techniques to maximize recovery
Area Material mid-life asset with
multiple brownfield & Commodity price environment provides for
greenfield opportunities
attractive acquisition metrics to Jadestone

Shortlisted opportunities offer the greatest potential to unlock significant trapped value via
Jadestones technical and commercial capabilities, experience and relationships

17
 Current Business Fully Funded
Resilient Balance Sheet

Debt free today

Non-brokered private placement of US$40mm and a US$28mm convertible debt facility completed Nov 2016
Use or proceeds to fund the acquisition of free cash flow generating Stag oil field, capex for producing assets, and to
fund future m&a
Convertible undrawn
Ongoing reduction of G&A burden

Stag oil field is free cash flow positive, if no further drilling

1-2 infill wells planned in 2017, fully funded with cash on hand/available from the convertible facility, and with high
expected resultant IRRs/rapid payback

Minimal exploration expenditure for Jadestone expected in 2017

Extension of exploration period for 46/07
Push out Nam Du well to 2018/19
05-1b&c purchase price to be funded from existing cash on hand and/or undrawn, assuming timely closure of
the transaction

18
Embedded Value in the Current Asset Base
Downside de-risked by cash raised, no debt, an Australian cashflow generating
asset (Stag) and circa C$5.27+ NAV/share upside from five development assets

NAV Bridge, US$mm NAV Bridge, C$/share7

1,200 7.00

6.07
1,014 6.00 0.54
1,000 90 0.73
123 5.76
962
5.00 0.46 0.42
77 70
800 2.03
339
4.00

600

3.00

80 0.48
400
200 2.00 1.19

200
1.00
66 0.40
Feb 2 share price: C$0.49
40 0.24

- 0.00
1 2 3 3 4 3 5 6 1 2 3 3 4 3 5 6
Cash Stag Nam Du U Minh 05-1 Tho Chu SC56 Upside Total Cash Stag Nam Du U Minh 05-1 Tho Chu SC56 Upside Total

1 US$40mm private placement, completed Nov 2016. Excludes cash on hand of US$1.1mm as of 30 Sep, 2016 and any sundry Q4 2016 activities not included in Asset NAVs
2 Management current base case NAV as of 1 July, 2016 and is net of (inclusive of) the US$10mm purchase price
3 Management current base case NAVs as of 1 July, 2016, based on LR Senergys Competent Persons Report dated 5 April, 2016 but revised to reflect managements views on most likely date of first production

(Nam Du and U Minh delayed three years, Tho Chu delayed five years)
4 Management current base case NAV as of 1 July, 2016 including the acquisition cost of US$14.3mm and bonus payments on FID and first gas of US$15.7mm in aggregate. Managements NAV model is broadly

consistent with ERC Equipoise independent NPV calculations on slide 17 but with some slight variations including a slightly lower plateau production level. Block 05-1b&c is subject to a statutory pre-emption right
held by Petrovietnam, see further slide 15
5 Lower end of range reflects estimated value of Jadestones two deep-water well carry entitlement from a third party; upper end of range based on LR Senergys Competent Persons Report dated 5 April, 2016 but

revised to reflect managements views on most likely date of first production (delayed eight years)
6 Upside comprises remaining unrisked Hart upside and Nam Du upside
7 Based on USD/CAD assumed exchange rate of 1.3254

19
 FID of 05-1 would naturally trigger a further funding
round
Assuming 05-1 is closed, and reaches FID in the course of 2017

2017/2018 Sources & Uses of Cash, US$mm

US$mm

350

50
300
(10)
120
250

200
(101)

150 94 (24)

100

40 28 45
50
(125) 17
(6)
(21)
-
9 10
Existing Stag Cash Block 05-1 Block 05-1 Stag 5 Stag 6
Block 05-1 Block 05-1 8Other Projects G&A + Other Remaining Undrawn 11 Cash +
1
Cash Position Flow 2
Debt 3 Equity Acquisition Development Acquisition7 Development Cash Convertible Convertible
4
Contribution Funding Funding

1 US$40mm private placement, completed Nov 2016. Excludes cash on hand of US$1.1mm as of 30 Sep, 2016 and cash generation Q4 2016
2 Estimated net cash contribution from Stag production per management current base case NAV and Bloomberg consensus (Sep 2016) Brent pricing
3 Assumed 40% debt funding of estimated US$300m 05-1 total development cost pursuant to the assumed FID of 05-1
4 Assumed equity funding pursuant to the assumed FID of 05-1
5 Initial US$10mm acquisition cost paid from proceeds of private placement
6 Addition development cost from 2017 & 2018 infill programs including Hart
7 Upfront acquisition cost of US$14.3mm and contingent payment upon FID of US$9.8mm
8 Development costs to end of 2018. Project cash flow positive from 2019 including provision for remaining development costs
9 Forecast holding costs for other exploration assets
10 Total forecast corporate G&A and other costs
11 US$28mm convertible, completed Nov 2016

20
 Conclusions
The Stag and Block 05-1 acquisitions mark the initial steps in Jadestones
transformation into a world-class APAC development and production company

Accelerated portfolio management of organic opportunities

Advance commercialization, apply for extension, sell/farm-down, or relinquish

Stag Oil Field acquisition validates managements investment thesis / plan

Attractive acquisition metrics
Significant re-investment options for incremental value

Vietnam Block 05-1 provides size, scale and material value to Jadestone's development portfolio
Consistent with Jadestones new strategy of acquiring near-term development in areas of deep knowledge and extensive operating
experience
Logical follow-on acquisition after securing a solid operating platform with the Stag Oil Field
Accretive M&A at attractive metrics that fit strict acquisition criteria
Opportunistic acquisitions in the distressed Asia-Pacific M&A market
Limited competitive landscape
Fast, effective growth
Additional acquisitions of producing assets
Development of first gas from existing Vietnam assets

Manage Balance Sheet to ensure cashflow resiliency and financial flexibility

Debt free today
Substantial cash on hand plus US$28mm undrawn convertible

21
 A
Appendix
Additional Materials
Strictly Private and Confidential 22
Board of Directors
Paul Blakeley, Cedric Fontenit and David Neuhauser joined Jadestones
Board June 8, 2016

Paul Blakeley | Executive Chairman Eric Schwitzer | Non-Executive Director

Paul has 35 years of energy experience, most recently (since

Eric has over 35 years experience within the investment
1994) at Talisman Energy Inc. As Executive Vice President
banking and natural resources sector and is currently Vice
Asia Pacific & Middle East, he led the building of Talisman
Chairman of Lincoln Peck Financial Inc. He is the former
Asia Pacific into a multibillion NAV powerhouse, and will bring
managing partner of Enterprise Capital Inc. and has
that experience to his new role at Jadestone. He has a track
extensive experience with the Canadian capital markets,
record of acquiring production and further enhancing value
having been a director of various Canadian publicly listed
through follow-on development activity.
companies over the past 12 years.

Bob Lambert | Deputy Chairman & Non-Executive Director Cedric Fontenit | Non-Executive Director

Bob has 45 years experience in the international exploration

Cedric is a senior member of the investment team at Tyrus
and production business and is formerly CEO and President
Capital S.A.M. Over the course of his sixteen-year career in
of TSX-V listed Petra Petroleum Inc. He is a chartered
investment banking and the hedge fund industry, he gained
geologist and has held numerous operational and
extensive experience in advising on and structuring M&A,
management positions in the US, Europe, North Africa, West
and in investments across issuers capital structure.
Africa, South East Asia and the Caspian region primarily with
Conoco Inc.

Iain McLaren | Non-Executive Director David Neuhauser | Non-Executive Director

Iain has significant experience in the oil and gas sector and is
David has extensive capital markets and M&A experience
currently Senior Independent Director and Chair of the Audit
and is currently founder and managing director of event-
Committee for Cairn Energy plc, Chairman of Investors Capital
driven hedge fund Livermore Partners in Chicago. He has
Trust plc as well as the director of various other companies.
invested and advised global public companies for the past 20
He is a past President of the Institute of Chartered
years and has a strong track record of enhancing intrinsic
Accountants of Scotland and was a partner in KPMG for 28
values through restructuring and strategic initiatives.
years until 2008.

23
 Attractive Value vs Peers
Valuation compares favourably on reserves, production and cash flow metrics.
The development projects should provide further superior long-term growth

Firm Value/2P Reserves, US$/boe Firm Value/EBITDA 2017E

20 12

10
15
8

10 6

4
5
2

0 0
Beach Soco Ophir KrisEnergy Jadestone AWE Ophir KrisEnergy AWE Soco Beach Jadestone

Firm Value/Daily Production, US$/flowing bbl Firm value/EBITDA 2018E

60,000 8

50,000
6
40,000

30,000 4

20,000
2
10,000

- 0
Ophir Soco Beach KrisEnergy AWE Jadestone AWE Ophir KrisEnergy Soco Beach Jadestone

Source: Bloomberg as at 4 Feb 2017 and company estimates

24
 Vietnam Block 05-1 Summary of Resource
Acquisition at $0.36/boe of 2C resources represents excellent value for
Jadestone shareholders

Highlights Contingent Resources (Net Working Interest)2

Best Estimate DPIIP of 75.7mmboe1, 2 Low Best High
Estimated Contingent Resources
343.7bcf natural gas (1C) (2C) (3C)

18.4mmbbl natural gas liquids Natural gas, bcf 100 198 269
Sub-Classification: Development Pending Natural gas liquids, mmbbl 4 7 10
All contingent resources have been further
sub-classified by ERCE as Development Barrels of oil equivalent, mmboe 20 40 55
Pending
Net Present Value to Jadestone2, 3
The highest project maturity sub-class for
contingent resources Low Best High
NPV, US$ mm
Final Investment Decision (1C) (2C) (3C)
Operator (Idemitsu) expects that FID shall 8% 161 458 635
occur in Q2 2017, although subject to
slippage 10% 127 379 516
Near Term Reserves 12% 98 314 422
Following the FID and regulatory approval of Acquisition Metrics
the final field development plan, Jadestone
anticipates that all currently reported Acquisition/development cost, Low Best High
resources will be reassessed as reserves $/boe (1C) (2C) (3C)
80% Chance of Commerciality Initial acquisition 0.70 0.36 0.26
As determined by ERCE Acquisition & development 18.84 9.54 7.00

1 DPIIP is that quantity of petroleum that is estimated, as of a given date, to be contained in known accumulations prior to production. The recoverable portion of DPIIP includes production, reserves, and contingent
resources; the remainder is unrecoverable. More specifically, all DPIIP other than the portion further sub-classified as contingent resources in this presentation is categorized as unrecoverable at this time. A portion of
the unrecoverable DPIIP may in the future be determined to be recoverable or reclassified as contingent resources or reserves as additional technical studies are performed, commercial circumstances change or
technological developments occur
2 Based on the independent qualified reserve evaluator, ERC Equipoise Pte. Ltd. ("ERCE"). ERCE's resource assessment is dated effective as of 1 July, 2016 and was prepared in accordance with the definitions,

standards and procedures contained in the Canadian Oil and Gas Evaluation Handbook and complies with National Instrument NI 51-101 - Standards of Disclosure for Oil and Gas Activities
3 Pricing based on natural gas of $8/MMbtu (2016) + 2% inflation per annum; and natural gas liquids of $65/bbl, $68/bbl and $70/bbl for 2019, 2020 and 2021+

25