Glossary Of Terms

“ASX” means Australian Securities Exchange Limited ABN 98 008 624 691.

"BBL" means standard barrel of oil containing 158.97 litres or 42 gallons, the unit measurement in the United States of America.

“BCF” means billion cubic feet.

“Board” means the Board of Directors.

“CHESS” means the ASX’s Clearing House Electronic Sub-Register System.

“Company” or “NGE” means New Guinea Energy Ltd ACN 112 618 238 and where the context requires, includes its subsidiary companies.

“Constitution” means the constitution of the Company.

“Corporations Act” means the Corporations Act 2001 (Commonwealth).

“Directors” means directors of New Guinea Energy Ltd ACN 112 618 238.

“Dollars” or “$” or “A$” means dollars in Australian currency.

“DST” means drill stem test.

“EST” means Eastern Standard Time in Australia.

“Fm” means geological formation.

“km” means kilometre.

“km2” means square kilometre.

“Listing Rules” means the official listing rules of the ASX.

“m” means metre.

“mm” means millimetre.

"PNG" means The Independent State of Papua New Guinea.

“PPL” means petroleum prospecting licence

“PRL” means petroleum retention lease

“Share” means a fully paid ordinary share in New Guinea Energy Ltd ACN 112 618 238.

“Share Registry” means Registries Limited ABN 14 003 209 836

“TCF” means trillion cubic feet.

“TD” means total depth.

“US$” means dollars in United States of America currency.