Completion Operations Continue On Bird #13-18 well • Three...

Completion Operations Continue On Bird #13-18 well • Three productive oil zones confirmed totaling 729 feet (222 metres) • Maximum oil column observed totals 1,963.19 feet (598 metres) • Results validate FPL’s view that original oil reserves in Western Flank of Florence field remain in place Fremont Petroleum Corporation Ltd (ASX: FPL) (“Fremont” or “the Company”) is pleased to provide the following operational update on completion activities for the Bird #13- 18 well: Results of mud logs Upon completion of drilling, the cuttings from the well were analysed by an independent geologist to confirm the fracture zones within the well that are producing crude oil. Cuttings from the well are analysed to identify oil that has been impregnated into the shale rock formation. Within the lower 2,000 feet of the Pierre section three productive zones have been confirmed: - 2,725 to 2,875 feet (150 feet / 45.72 metres) - 3,419 to 3,479 feet (60 feet / 18.28 metres) - 3,841 to 4,360 feet (519 feet / 158.19 metres) In total, the three oil zones producing oil from natural fractures total 729 feet (222 metres). Oil infiltration in well-bore Oil was evidenced in the pits throughout the lower 1000ft of the Pierre formation, with extensive fracturing encountered whilst drilling throughout the lower 500 feet of the well. Post completion of drilling, a 4.5inch slotted production liner was run into the well to approximately 4400ft with the total depth of the well-bore being approximately 4450ft. (1356 metres). The maximum oil level recorded was 1,963.19ft with a calculated pressure on the formation of approximately 865psi. Completion Operations Completion operations continue as the fluid levels and bottom-hole pressures in the well are yet to stabilise. 2 USA Office: 113 North Santa Fe, Florence, Colorado 81226 | P: +1 719 784 7616 Australia Office: Suite 302, Level 3, 17 Castlereagh Street, Sydney NSW 2000 | P: +61 2 9299 9580 www.fremontpetroleum.com Fremont’s engineers are monitoring and engineering the well constantly to effectively complete the well and place it in to production. The Company will provide regular updates throughout the well cleanup process including initial production rates when established. Fremont’s Executive Chairman Guy Goudy commented: “We are pleased to have intersected several hundred metres of oil at the Bird #13-18 well. It clearly validates our thesis that the original oil reserves in the Western Flank of the Florence field remain largely in place. It is important that we effectively complete the well to maximise production and recoverable oil reserves. We look forward to bringing this well into production.” Video footage of drilling operations and oil flows has been posted to the Company’s website at www.FremontPetroleum.com