Blue Energy : MST Conference Presentation

Presentation to

MST Access Australian Micro & Small Caps Conference

16th June 2021

Legals

Disclaimer

This presentation may contain forward looking statements that are subject to risk factors associated

with the gas and energy industry. It is believed that the expectations reflected in the statements contained within are reasonable, but they may be affected by a range of variables which could cause actual results or trends to differ materially, including but not limited to price and currency fluctuations, geotechnical factors, drilling and production results, development progress, operating results, reserve estimates, legislative, fiscal and regulatory developments, economic and financial markets conditions in various countries, approvals and cost estimates. The Presentation and information contained in it is being provided to shareholders and investors for information purposes only. Shareholders and investors should undertake their own evaluation of this information and otherwise contact their professional advisers in the event they wish to buy or sell shares. To the extent the information contains any projections, Blue Energy has provided these projections based upon the information that has been provided to it. None of Blue Energy's directors, officers or employees make any representations (express or implied) as to the accuracy or otherwise of any information or opinions in the Presentation and (to the maximum extent permitted by law) no liability or responsibility is accepted by such persons.

Competent Person Statement

The estimates of Reserves and Contingent Resources have been provided by Mr John Hattner of Netherland, Sewell and Associates Inc. Mr Hattner is a full time employee of NSAI, has over 30 years of industry experience and 20 years' experience in reserve estimation, is a licensed geologist, and has consented to the use of the information presented herein. The estimates in

the report by Mr Hattner have been prepared in accordance with the definitions and guidelines set forth in the 2007 Petroleum

and Resource Management System (PRMS) together with the 2011 and 2018 Guidelines for Application of the PRMS as

approved by the Society of Petroleum Engineers (SPE), and utilising a deterministic methodology.

NATURAL GAS - Reliable, Dispatchable, Sustainable, ESSENTIAL

Why Invest in Blue?

• Blue has large gas reserves and resources in key basins (4,000+ PJ).
• Blue has executed gas supply Heads of Agreements to supply over 500 PJ of gas on long term basis (to Origin and EnergyAustralia).
• New gas supply focus is endorsed by Govt, Manufacturers and the ACCC.
• Blue is opening up new gas basins with the support of the Federal Government, who is providing Budget support (grants to industry) to unlock the potential.
• The Federal Government's National Gas infrastructure Plan will target the
  North Bowen and Galilee Basins plus the Northern Territory
• Blue is Operator and holds 100% in its tenements in Bowen and Galilee Basins

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NATURAL GAS - Reliable, Dispatchable, Sustainable, ESSENTIAL

• G a s L e d R e c o v e r y " F o c u s
  N e w G a s S u p p l y

Three basins constitute the Federal Government's

KEY NEW

Gas supply basins

1. North Bowen Basin

Blue has 3,000 PJ* of Gas Resources (and 2P reserves)

2. Galilee Basin

Blue has 830 PJ* of Gas Resources

3. Beetaloo and Greater McArthur Basin

Blue has interests in over 100,000 km2 of prospective acreage adjacent to the Beetaloo Basin

*See Pages 12 and 13 for Listing Rule 5 Disclosure

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NATURAL GAS - Reliable, Dispatchable, Sustainable, ESSENTIAL

B l u e h a s p o s i t i o n s i n t h e

3 K E Y B a s i n s

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NATURAL GAS - Reliable, Dispatchable, Sustainable, ESSENTIAL