AOW.ASX

ANPOF.OTCNOVEMBER 2017

BUILDING A CONVENTIONAL

PRODUCTION BUSINESS IN

TEXAS AND THE GULF COAST

AGM PRESENTATION

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DISCLAIMER

Extent of Information

This document has been prepared by American Patriot Oil and Gas Corporation Limited (“American Patriot Oil and Gas” or “Company”). This Presentation, including the information contained in

this disclaimer, does not constitute an offer, invitation or recommendation to subscribe for or purchase any security and neither the Presentation, disclaimer not anything contained in such forms

the basis of any contract or commitment. This Presentation does not take into account your individual investment objective, financial situation or particular needs. You must not act on the basis

of any other matter contained in this Presentation but must make your own assessment of the Company.

No representation, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information contained in this Presentation, including the accuracy, likelihood of

the achievement or reasonableness of any forecast, prospects, returns or statements in relation to future matters contained in the Presentation (“Forward-looking statements”). Any such forward-

looking statements that are contained in this Presentation or can be implied by the same are by their nature subject to significant uncertainties and contingencies associated with the oil and gas

industry and are based on a number of estimates and assumptions that are subject to change ( and in many cases are outside the control of American Patriot Oil and Gas and its directors) which

may causes the actual results or performance of American Patriot Oil and Gas to be materially different from any future results or performance expressed or implied by such forward-looking

statements. To the maximum extent permitted by law, none of American Patriot Oil and Gas’s, or related corporations, directors, employees, agents nor any other person accepts and liability,

including without limitation arising from fault or negligence, for any loss arising from use of this Presentation or its content or otherwise arising in connection with it.

Exclusion of Financial Product Advice

This Presentation is for information purposes only and is not a prospectus or other offering under Australian law or under any others laws in the jurisdictions where the Presentation might be

available. Nothing herein constitutes investment, legal, tax or other advice. This Presentation is not a recommendation to acquire shares and has been prepared without taking into account the

investment objectives, financial situation or needs of individuals.

Independent Advice

You should consider the appropriateness of the information having regard to your own objectives, financial situation and needs and seek appropriate advice, including, legal and taxation advice

appropriate to your jurisdiction. American Patriot Oil and Gas is not licensed to provide financial advice in respect of its shares.

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INVESTMENT HIGHLIGHTS

Increasing reserves & production with aggressive acquisition & development strategy

Low cost, conventional producing assets, economic at low oil prices with existing infrastructure

Long-term profitable production with a focus on further lowering operating costs

US$40m debt facility term sheet with Arena Investors L.P., due diligence on reserves completed

Building a significant production business focused in Texas & Gulf Coast with five acquisitions

delivering 2.3mboe reserves, 500boepd and US$83m revenue @ US$50/oil

Upside potential through work over, infill drilling and behind pipe strategies

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COMPANY SNAPSHOT

Corporate Snapshot

Ticker ASX: AOW, OTCQB: ANPOF

Share Price (29 Nov 2017) $0.032

Current Shares on issue 237,074,615

Options 21,621,725 (ex $0.25/expiry Oct 2018)

Market Cap $7.6m

Cash (30 Sept 2017) $0.36m

Debt Nil

EV 7.24

Northern Star

Rough House

Texas

Acquisitions

Project LocationProduction

(boepd)

Reserves

(1P mboe)

PV10

(US$)

Revenue

(US$M)

Peak Energy East Texas 145 895 5,541 22.7

HJH South Texas 104 436 3,785 14.8

Lost Lake/Goose Creek South Texas 100 250 2,892 10.9

Anasazi, CWS, Safari SW Texas 148 758 7,396 33.8

Total 497 2,339 19,614 82.2

Shareholder Type as at 29 November 2017

Board &

Management, 11%

Top Holders

(ex Board & Management),

35%

Other

Shareholders, 54%

Texas Acquisitions

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MANAGEMENT TEAM

Alexis ClarkCEO and Managing Director

Mr Clark is a graduate of the University

of Adelaide where he obtained a

Bachelor of Economics and

Commerce. Alexis was appointed MD

and CEO of American Patriot in early

2014, prior to that he was an Oil & Gas

Analyst at Patersons Securities

covering small to mid cap oil & gas

companies and worked as an Energy

Analyst at Merrill Lynch covering

medium to large cap energy

companies; and more recently Shaw

Stockbroking where he covered a

basket of mid-cap oil and gas

companies. Alexis has had more than

15 years experience in the Institutional

banking and finance sector where he

held positions at Westpac Institutional

Bank, GE Capital and ANZ Banking

Group, working on transactions across

the Energy & Resources and

Infrastructure client base.

David Shaw

Non-executive Chairman

David Shaw is a Melbourne University

law graduate, and is currently a

practising solicitor with his own firm,

Campbell & Shaw Lawyers. He is a

director on a number of private

company and advisory boards and has

a long history with the Australian

Football League (AFL) being the

Essendon Football Club President

from 1992 to 2002 in addition to the

former Commissioner of the AFL.

David is a Non-executive Chairman of

Ambassador Oil and Gas Limited.

Frank Pirera

CFO and Company Secretary Mr Pirera is a graduate of Monash

University where he obtained a

Bachelor of Business (Accounting) and

is a Fellow of the Certified Practising

Accountants with more than 30 years

of experience in public practice. Mr

Pirera has a wealth of experience in

financial control and management and

strategic planning having advised

numerous public and private

companies throughout his career.

Nick MelosiCOO (US Based)

Mr Melosi is a Southern Illinois University

geology graduate with more than a

decade of experience in the oil and gas

industry. Prior to joining American

Patriot, Nick worked with medium to

large cap companies such as Marathon

Oil and Gas, Sanchez Oil and Gas,

Carrizo Oil and Gas and BHP Billiton. He

is an operations, development and

acquisitions geologist with operations

and development experience in over 250

horizontal wells across US plays. Nick

has developed multiple developmental

and engineering driven drilling projects,

has performed reserve analysis

on multiple acquisitions and has

been involved with multiple workover

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STRATEGY - REPEATABLE MODEL

Existing Assets • Existing assets: Maximise value

• Free carried

• Monetise existing Joint Venture properties

• Acquire value accretive production

Production • Low cost / distressed conventional producing assets

• Low decline / long life

• End 2017: 500 boepd

• End 2018: +2,000 boepd

Exit Strategy • Exit after three years

• Track oil price recovery

• Repeatable model

Aggressive acquisition program – targeting 2,000+ boepd by end 2018For

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STRATEGY - UNLOCKING VALUE

Focused on

growing

reserves &

production in

the USA

Partnering with equity

finance providers

• Partner with equity and

hedge funds for equity

finance

• Partner with banks for

debt to optimise the

capital structure

• AOW has no current

debt outstanding

Deal making and

operational capacity

• Management and deal

making strength to

source new

opportunities

• Competitive advantage

with in-house

operational capability

• Significant due

diligence with team in

place focused on

Engineering, Land and

environmental DD

Increased production

delivering returns

• Target significant &

attainable production

growth;

• 2017 = 500 boepd

• 2018 mid = 1,000 boepd

• 2018 end = 2,000 boepd

• Mitigate risk by focusing

on brownfield assets, low

borrowing levels and

conservative acquisition

assumption

• Target 30% +IRR and

ROO of 3x

Growing reserves &

production

• Acquire low cost and/or

distressed conventional

producing assets

• Targeting four

acquisitions per year

• Expansion of reserves

and resources base,

drive efficiencies &

aggressive build out

over the next 12-18

months

• Maximise reserves &

production from existing

acreage

Monetise asset

• Build a significant

producing business that

captures the benefits of

oil price recovery and

improving market

conditions

• Uplist to NASDAQ

exchange in the US

• Exit after three years

plus post achievement

of production milestone

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TEXAS & THE GULF COAST – GROWING RESERVES AND PRODUCTION

Lost Lake/Goose Creek

Anasazi

HJH – South Texas

Peak Energy – East Texas

Anasazi/CWS/Safari

AOW Texas acquisitions

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STRATEGY - WHY TEXAS & THE GULF COAST?

• Access to low cost and low breakeven

conventional producing plays that offer

compelling economics vs expensive shale

plays

• Proven oil producing basins in targeted

area of focus with production from multiple

zones

• Significant historical production, well

control and geological knowledge

• Lower operational and supply chain costs

and significantly reduced drilling costs

• Access to quality operators and

infrastructure with extensive pipeline

infrastructure and transportation in place

• Texas government and local community

supportive of the oil and gas industry

• Superior access to qualified and cost

competitive labour force

HJH

CWS

Lost Lake/Goose Creek

Peak Energy Anasazi - Rose

Anasazi - Memsa

Texas

Mississippi

Louisiana

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MARKET OPPORTUNITY – ACCESS TO QUALITY ASSETS

• Strategy to roll up low to middle market development opportunities that are cash flow positive while

majors are focused on larger plays

• Reduced borrowing bases and requiring debt repayment is forcing asset sales and bankruptcies

• Banks are limiting lending to the sector and focusing on selective opportunities

• Acquisitions will be largely underpinned by PDP value at current strip pricing with upside from PUD and

PDNP reserves

• Focus is on assets that are economic at current prices with further efficiency gains and stacked pays

• AOW is taking advantage of this current climate by selectively targeting distressed opportunities in

Texas and the Gulf Coast

• AOW will remain flexible with regard to the funding of future opportunities by offering cash and/or stock

and by partnering with debt/equity providers

Building a significant producing business taking advantage of market opportunitiesFor

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TEXAS ACQUISITIONS - OVERVIEW

Transaction • Acquisition of 5 assets in the Texas Gulf Coast in H2 2017

• (Average 80% working interest with mix of AOW Operate/non Operate)

Purchase Price • USD$5.3m funded via AOW Equity and Debt facility acquisition multiple of $2.30/BOE – low entry price

Proven Reserves • 1P reserves: 2.3 mmboe; US$19.6m PV10 value, US$81m revenue @US$50/oil – Independently certified

Production • Production: 500 boepd

• Potential production increase to 1,000 boepd from restarting shut in production & workovers

• Further Upside potential through additional work over, infill drilling and behind pipe strategies

Value Contribution • Assets produce over US$2m net cash flow at current oil and gas prices = cash flow positive

Value Proposition • Further acquisitions planned in 2018 to significantly grow the production to 2,000 boepd end-2018

Delivering Material Growth

Production Self Funding Cash

Flow

Reserves Expansion

• 497 boepd/2,330 mboe

1P reserves certified by

independent reserve

reports

• Set to grow to +1,000

boepd by early-2018

• AOW cash flow positive

by end-2017

• Assets generate US$2m

in annual net cash flow

• Upside via restarting low

cost conventional shut-

in production and work

over potential

• 2330 mboe oil and gas

reserves certified by

independent third party

PV10 of US$19m, Net

Cash Flow of US$2m

• Ability to significantly

grow reserve base over

next 12 months

• Targeting production and

cash flow growth

• 2017 = 500 boepd;

• 2018-mid = 1,000 boepd;

• 2018-end = 2,000 boepd

• Coincide with oil and gas

price recovery

• Dual list in US and AUS to

expand investor base

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TEXAS ACQUISITIONS - OVERVIEW

Growing Reserves base of ≈ 2,300 Mboe, US$82m revenue and US$19.6m PV10

All Revenues in USD

M = thousands barrels oil equivalent

Project Location FormationWI

(%)

NRI

(%)

Production*

(boepd)

Reserves**

(1P mboe)

PV10

(US$000)

Revenue

US$mOperator

Peak Energy/East Texas Harrison, Rusk Smackover 100 76% 145 894.0 5,541 22.7 American Patriot

HJH/South Texas Fayette, Lee Austin Chalk 100 75% 104 434.0 3,785 14.9 American Patriot

Lost Lake/Goose CreekHarris,

Chambers Miocene 100 75-81% 100 250.0 2,892 10.9 American Patriot

CWS, Anasazi, Safari

La Salle,

Gonzales,

Goliad

Various 50-100 49-87% 148 758.0 7,396 33.8American Patriot, Alta

Mesa, Sanchez

Total 497 2,335 19,614 82.3

*Production includes currently shut in production and some re-works

*Reserves certified by Independent Petroleum Engineers

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TEXAS ACQUISITION – PRODUCTION/REVENUE SCENARIOS

Cash flow positive at current oil prices with significant cash flow generation potential

Oil Price Revenue Scenarios USD (m)

Production Scenarios USD (m)

Oil Price USD $40/bbl $50/bbl $60/bbl

Production (boepd) 500 500 500

Revenue ($USDm) 7.0 8.8 10.5

Royalties (22%) 1.5 1.9 2.3

Operating Costs ($20/bbl) 3.5 3.5 3.5

Taxes 0.5 0.7 0.8

Net Revenue (net AOW) 1.4 2.7 3.9

Production (boepd) 500 750 1000

Oil Price (USD bbl) $50 $50 $50

Revenue ($USDm) 8.8 13.1 17.5

Royalties (22%) 1.9 2.9 3.9

Operating Costs ($20/bbl) 3.5 5.3 7.0

Taxes 0.7 1.0 1.3

Net Revenue (net AOW) 2.7 4.0 5.3

-

5.00

10.00

15.00

20.00

25.00

$40/bbl $45/bbl $50/bbl $55/bbl

Total Revenue USD (m)

400boepd

600boepd

800boepd

1000boepd

-

1.00

2.00

3.00

4.00

5.00

6.00

7.00

8.00

$40/bbl $45/bbl $50/bbl $55/bbl

Net Revenue USD (m)

400boepd

600boepd

800boepd

1000boepd

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TEXAS ACQUISITION – PEAK ENERGY OVERVIEW

• Peak Energy – East Texas (76% NRI and AOW Operator)

• Harrison, Gregg, Rusk and Upshur Counties

• Deep East Texas Oil and Gas production assets

• Production is: 39 boepd and 630 mcfd gas (post restart shut in production and

re-works)

• 1P Proven reserves: 895 mboe; US$5.3m PV10; US$22m revenue

• Operating costs in this region are a low ~$20/bbl so the wells are economic

down to a low oil price

• Producing formations: Cotton Valley, Travis Peak and Pettit

• Producing wells: 17 gas wells/21 oil wells

• 43 leases holding 4,000 net acres

• Numerous PDNP and behind pipe drilling opportunities

Production from – Hosston -

Smackover

1P PROVEN RESERVES

OIL

mbbl

GAS

mmcf

PV10

US$ (000)

PDP 210 2,032 3,068

PDNP 25 1,923 2,472

PUD 0 0 0

Total 235 3,712 5,540

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TEXAS ACQUISITION – HJH OVERVIEW

• HJH – South Texas (75% NRI and AOW Operator)

• Fayette, Lee, Washington and Burleson Counties

• South Texas Austin Chalk Gas production assets

• Production is: 40 bopd and 374 mcfd gas (post restart shut in wells)

• 1P Proven reserves: 434 mboe; US$3.8m PV10; US$14.8m revenue

• Operating costs in this region are a low ~$20/bbl so the wells are

economic down to a low oil price

• Producing formations: Austin chalk

• Producing wells: 38 wells with multiple recompletions

• 21 leases holding 5,800 net acres

• Numerous PDNP and PUD behind pipe drilling opportunities

1P PROVEN RESERVES

OIL

mbbl

GAS

mmcf

PV10

US$ (000)

PDP 166 844 2,785

PDNP 60 400 1,000

PUD

Total 226 1,244 3,785

Production from – Austin

Chalk

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TEXAS ACQUISITION – LOST LAKE/GOOSE CREEK OVERVIEW

• 100% GWI/average 75-81% NRI in Harris and Chambers counties

Texas/340 net acres

• Production is currently shut in but can be quickly restarted to 50bopd

• 1P proven reserves of 250 mboe; US$2.8m PV10; US$11m revenue

• Assets acquired from lender Solstice Capital LLC at the Bankruptcy court

• 65 oil wells all producing from the Miocene zones/Salt domes at depths

1,200-3,860 feet

• Operating costs in this region are a low ~$22/bbl wells economic at low

prices

• Cumulative production of 3.1 mmbl oil /230 mmcf gas since the 1950’s

• Existing 2D seismic has identified 8-10 additional infill drilling sites

• Focus is to return the shut-in wells to production and rework behind pipe

zones

• Multiple locations for infill drilling targeting 50-100 boepd per well

• Existing infrastructure in place, wells fully equipped with pipelines in place

1P PROVEN RESERVES

OIL

mbbl

GAS

mmcf

PV10

US$ (000)

PDP 0 0 0

PDNP 130 0 1,724.8

PUD 101 102.9 1,167.1

Total 231 102.9 2,891.9

Production from :

Miocene, Frio,

Vicksburg, Shows in

several sands

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TEXAS ACQUISITION – OTHER ASSETS OVERVIEW

• Anasazi, CWS and Safari assets located in South Texas and Louisiana

(49-87% NRI) (Mix of Operator and Non–Operator assets)

• Located in Goliad, La Salle, San Patricio and Gonzales Counties Texas

and La Salle Parish Louisiana

• Production is: 128 boepd and 123 mcfd gas (post restart shut in

production and re-works)

• 1P Proven reserves: 758 mboe; US$7.4m PV10; US$33m revenue

• Includes the non-operated Williams Gas unit and non-operated

producing oil wells owned by Rose Royalties

• Operators include Alta Mesa and Sanchez Energy large private US oil

and gas companies

• Significant upside potential for PDNP and behind pipe at minimal capex

to grow production significantly 1P PROVEN RESERVES

OIL

mbbl

GAS

mmcf

PV10

US$ (000)

PDP 190 700 2,766

PDNP 219 751 3,456

PUD 56 311 1,174

Total 465 1,762 7,396

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EXISTING ACERAGE – Monetise Assets

• Focused on maximising value from existing assets and monetise existing acreage position

• In discussions with a number of parties to sell acreage position

• Existing assets located in proven hydrocarbon basins in close proximity to producing oil fields

• Multiple projects at various stages of completion

Monetise and exit the existing acreage position

Project Location BasinWI

(%)

NRI

(%)

Current

Production

(boepd)

Acres

(net)Operator

Northern Star Montana Williston 16-30 ~13-24 Nil 12,000 Great Western & Anadarko

Rough House Colorado DJ Basin 30 ~22.5 Nil 4,507 Running Foxes Petroleum (RFP)

Other Projects Montana, Wyoming, Utah Various 100 ~80 Nil 11,729 American Patriot Oil & Gas

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KEY TAKEAWAYS

Proven financial, geological, geophysical and operational Management team

AOW maintain intimate knowledge of area after completing a number of acquisitions

Proven and repeatable approach to value creation

Building a strong platform capture benefits as market conditions improve

Aggressive acquisition strategy outlined for 2018 and beyond

Pursuing opportunities that provide a springboard for future activity and growth

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CONTACT INFORMATION

Alexis ClarkCHIEF EXECUTIVE OFFICER & MANAGING DIRECTOR

Email

Mobile

aclark@ap-oil.com

+61 401 626 014

+1 303 419 8434

1400 16th Street, Suite 400, Denver Colarado, 80202 USA

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