Copy of Slide in AJL Presentation dated 22 February 2008 Re: AJL...

Copy of Slide in AJL Presentation dated 22 February 2008 Re: AJL Half Year. Slide 16:

• Strategic investment (15.35%). Options over further 10% subject to milestones

• Andy Lukas CEO

• 3 year Technical Services and 2 year Drilling Services Agreements
– Accelerate exploration and development of Sydney Basin
– Strengthen AGL/SGL joint venture resources
– Produce additional reserves

• Backing Lucas knowledge of Sydney Basin and proven gas extraction capabilities

• Sydney Gas well positioned in market place. Considerable potential reserves

• Demand rapidly increasing in NSW gas market

• Considered very underpriced relative to peers

• Huge potential. Fits well with other CSM assets


Regards

SP