Azonto Petroleum : 20170515 Investor Presentation

May 2017

DISCLAIMER

This presentation has been prepared by Azonto Petroleum Limited (Company), based on information available as at the date of this presentation. The information in this presentation is provided in summary form and does not contain all information necessary to make an investment decision.

For the purposes of section 734(5) of the Corporations Act, in connection with the proposed acquisition of Calima Energy Ltd (Calima) by the Company, the Company intends to lodge a prospectus with ASIC (Prospectus) containing a public offer, and a priority offer to existing shareholders, at an issue price of $0.015 per share ($0.045 on a post-Consolidation basis) (Offer). Investors who wish to acquire shares under the Offer should consider the information disclosed in the Prospectus and will need to complete an application form that will be in or will accompany the Prospectus. A copy of the Prospectus will be available for download from the Company's website at www.azpetro.com. During the offer period, any person may obtain a copy of the Prospectus (free of charge) by contacting the Company on +61 8 9380 8333.

The purpose of this presentation is to provide general information about the Company and Calima. It is not recommended that any person makes any investment decision in relation to the Company based solely on this presentation. This presentation does not necessarily contain all information which may be material to the making of a decision in relation to the Company. Any investor should make its own independent assessment and determination as to the Company's prospects prior to making any investment decision, and should not rely on the information in this presentation for that purpose.

This presentation does not involve or imply a recommendation or a statement of opinion in respect of whether to buy, sell or hold securities in the Company. The securities issued by the Company are considered speculative and there is no guarantee that they will make a return on the capital invested, that dividends will be paid on the shares or that there will be an increase in the value of the shares in the future.

This presentation contains certain statements which may constitute "forward-looking statements". Such statements are only predictions and are subject to inherent risks and uncertainties which could cause actual values, results, performance or achievements to differ materially from those expressed, implied or projected in any forward-looking statements. No representation or warranty, express or implied, is made by the Company that the matters stated in this presentation will be achieved or prove to be correct. Recipients of this presentation must make their own investigations and inquiries regarding all assumptions, risks, uncertainties and contingencies which may affect the future operations of the Company or the Company's securities.

The Company does not purport to give financial or investment advice. No account has been taken of the objectives, financial situation or needs of any recipient of this document. Recipients of this document should carefully consider whether the securities issued by the Company are an appropriate investment for them in light of their personal circumstances, including their financial and taxation position.

This presentation is presented for informational purposes only. It is not intended to be, and is not, a prospectus, product disclosure statement, offering memorandum or private placement memorandum for the purpose of Chapter 6D of the Corporations Act 2001. Except for statutory liability which cannot be excluded, the Company, its officers, employees and advisers expressly disclaim any responsibility for the accuracy or completeness of the material contained in this presentation and exclude all liability whatsoever (including in negligence) for any loss or damage which may be suffered by any person as a consequence of any information in this presentation or any error or omission there from. The Company accepts no responsibility to update any person regarding any inaccuracy, omission or change in information in this presentation or any other information made available to a person nor any obligation to furnish the person with any further information.

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OVERVIEW

• Azonto Petroleum Limited (Azonto) is seeking shareholder approval to change its name to Calima Energy Limited (Calima) as part of a transformative transaction in which it will acquire some oil and gas assets and appoint an extremely experienced management team.

  A Management Team With a Track Record

• The new Calima management team have worked together for more than 16 years. They were the founders and core management team of two successful E&P companies:

  • Fusion Oil & Gas plc - was listed on AIM and made several discoveries offshore Mauritania in Northwest Africa; and

  • Ophir Energy plc - was listed on LSE and made several discoveries offshore Equatorial Guinea in

    West Africa and Tanzania in East Africa

• In 2014 the Calima management team established Havoc Partners LLP (Havoc) as a self-funded natural resources investment vehicle with interests in oil and gas, precious- and base-metals and strategic noble gases.

• Azonto, to be re-named as Calima, will be the primary investment vehicle of the Havoc partners.

  Well positioned to target counter-cyclical opportunities

• Calima aims to leverage its technical capabilities to secure early stage oil and gas opportunities and benefit from the current oil sector environment.

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HAVOC PARTNERS LLP

• Havoc Partners (Havoc) is a self-funded natural resources investment partnership focussed primarily on the oil and gas sector.

• Havoc's five founding partners are very experienced geoscientists who have worked together for more than 16 years.

• More than 100 years of international upstream experience around the globe collectively and directly responsible for the discovery of c. 3 Billion BOE in Africa.

• Built Fusion Oil & Gas plc from inception to IPO on AIM and sale providing seed capital investors a 15X return on their investment over a 3 year period and IPO investors a 1.5X return in less than 1 year

• Founded Ophir Energy plc, which listed on the LSE as a constituent of FTSE 250 index and is one of the most successful growth stories of the African E&P players.

A team that has built very successful companies.

For further detail see Appendix 4

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