Disclaimer

Nature of Document

This document has been prepared by Gulf Energy Pty Ltd ABN 58 094 620 176 (Gulf) in connection with Gulf’s proposed equity raising of new ordinary shares in Gulf (New Shares) comprising a placement of New Shares to institutional and sophisticated investors under section 708A of the Corporations Act 2001 (Cth) (Corporations Act) (Institutional Placement).

No party other than Gulf has authorised or caused the issue of this document, or takes responsibility for, or makes any statements, redocuments or undertakings relating to, this document.  PanEuro Special Situations Ltd (PanEuro) has provided guidance to Gulf in the development of this document. PanEuro provides advisory services to Gulf under Section 7 of the Second Schedule of the Singapore Securities and Futures Act regulations.

This document is based on Gulf’s own information and estimates, is general in nature and does not purport to be complete. The information in this document has not been independently verified. This document does not contain all the information which would be required in a prospectus or other disclosure document for the purposes of Chapter 6D the Corporations Act. None of Gulf, PanEuro, any of their related bodies corporate, or any of their representatives assume any responsibility for, or makes any redocument or warranty, express or implied, with respect to the accuracy, reliability or completeness of the information contained in this document and none of those parties have or assume any obligation to provide any additional information or to update this document.

No Offer

This document is for information purposes only and does not constitute an invitation, offer or subscription for, or any solicitation to offer, buy or subscribe for, any securities. This document is not a prospectus, product disclosure statement or other disclosure document under Australian law (and will not be lodged with the Australian Securities and Investments Commission).

This document is not and should not be considered an offer or an invitation to subscribe for or acquire securities or any other financial products. The Institutional Placement will be conducted under section 708A of the Corporations Act and will be made available to certain persons who are "professional" or "sophisticated" investors (as defined in subsections 708(8) and 708(11) of the Corporations Act).

No part of this document forms the basis of, or should be relied upon, as an inducement to enter into any contract or commitment with respect to securities. 

No redocument, warranty or assurance, express or implied, is given or made in relation to any forward-looking statement. In particular no redocument, warranty or assumption, express or implied, is given in relation to any underlying assumption or that any forward-looking statement will be achieved. Actual and future events may vary materially from the forward-looking statements and the assumptions on which the forward-looking statements were based, because events and actual circumstances frequently do not occur as forecast and future results are subject to known and unknown risks such as changes in market conditions and regulations.

Past performance information given in this document is given for illustrative purposes only. Recipients are cautioned not to place undue reliance on forward looking statements, and should rely on their own independent enquiries, investigations and advice regarding information contained in this document. Any reliance by a recipient on the information contained in this document is wholly at the reader’s own risk.

Investment risk and other risks

An investment in New Shares is subject to investment and other known and unknown risks, some of which are beyond the control of Gulf. Gulf does not guarantee any particular rate of return or the performance of Gulf nor does it guarantee any particular tax treatment. Investors should have regard to the “Key Risks” section of this document when making their investment decision. These risks, together with other general risks applicable to all investments in listed securities not specifically referred to, may affect the value of shares in Gulf (including New Shares) in the future. There is no guarantee that the New Shares will make a return on the capital invested or that there will be an increase in the value of the New Shares in the future.

Resource estimates

The resource estimates outlined in this document are based on and fairly represent information and supporting documentation prepared by qualified and experienced exploration consultants for Gulf’s Managing Director, Mr Wolfgang Fischer, who is a full-time employee of the company. Mr Fischer has 50 years operational and management experience in petroleum exploration and development in Australia and elsewhere in the world and has been involved in many successful projects.

There are numerous uncertainties inherent in estimating reserves and resources, and in projecting future production, development expenditures, operating expenses and cash flows. Oil and gas reserve engineering and resource assessment are subjective processes of estimating subsurface accumulations of oil and gas that cannot be measured in an exact way. These prospective resource estimates have an associated risk of discovery and risk of development. Further exploration and appraisal is required to determine the existence of a significant quantity of potentially moveable hydrocarbons.