Lucent Oil and Gas (Cyprus) Ltd

February 2017February 2017Contact: dmd@visoil.com

Investment Opportunity Proven Oil (6-12mmbbls) withProven Oil (6 12mmbbls) with

Heritage wells & Large Exploration Target 1000m Deeper.

DisclaimerThis presentation (“the Proposal”) has been prepared by Lucent Petroleum LLP. (“the Company”) and is being distributed for information purposes only, to those parties who have an interest in making an investment in the Company (“you” or “the Recipient”) and may not be relied upon for the purposes of any transaction. The Proposal is not intended to form the basis of any decision to make such an offer, or the basis or part of any contract, and does not constitute an offer or invitation for the sale or purchase of all or any part of the capital or assets of the Company.The information relating to the Company and its business and assets contained in the Proposal is the management’s view of the state of affairs of the Company,

f f it t d th f t tl k H th P l d t t t id l t d f ll t d i ti f th tt tperformance of its assets, and the future outlook. However, the Proposal does not purport to provide a complete and fully accurate description of the matters to which it relates. No warranty, representations or undertaking, expressed or implied, is or will be made in, or in relation to, and no responsibility or liability (including, without limitation, any liability in negligence) is or will be accepted by the Company and or its management, directors, employees, agents and/or advisers (hereinafter the Company’s “connected persons”) for, or in relation to, the Proposal or accuracy or completeness of the information contained therein or any other information, whether written or oral, made available to any interested party or its advisers and any liability therefore is hereby expressly disclaimed. In particular, but without prejudice to the foregoing, no representation or warranty is given as to any of the opinions, or as to the achievement or reasonableness of any future projections, actions, plans, or estimates, contained in the Proposal. Any Recipient will be required, in the event that it enters into legally binding documentation regarding an investment in the Company to acknowledge that it has not relied on or been induced to enter into such investment by the Proposaldocumentation regarding an investment in the Company, to acknowledge that it has not relied on or been induced to enter into such investment by the Proposal or by any other representation or statement.The Proposal has been delivered to the Recipients for information purposes only and upon the express understanding that such parties will use it only for the purposes set forth above. By accepting a copy of the Proposal, you hereby agree, upon request, to return promptly all material received in connection with any proposed transaction (including the Proposal) without retaining any copies, and not to reproduce, pass on, or otherwise divulge all or part of the contents of this Proposal or any other person, directly or indirectly, (excluding your professional advisers) without the prior written consent of the Company.Nothing in the Proposal is, or shall be relied on, as a promise or representation as to the future. In furnishing copies of the Proposal, neither the Company nor any of their representative connected persons undertakes any obligation to provide the Recipients with access to any additional information or to update theany of their representative connected persons undertakes any obligation to provide the Recipients with access to any additional information or to update the Proposal or to correct inaccuracies herein which may become apparent. The Company reserves the right, without advanced notice, to change or terminate procedures for the making of investment in the Company, or to terminate negotiations at any time prior to the signing of a binding letter of subscription, without further explanation.The Proposal is not directed to, or intended for distribution, directly or indirectly, to or use by, any person or entity that is a citizen or resident or located in any locality, state, country or other jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation or which would require any registration, licensing, or the publishing of a prospectus within such jurisdiction.The Presentation is directed solely at investment professionals (as defined in Article 19(5) of the Financial Markets and Services Act 2000 (FinancialThe Presentation is directed solely at investment professionals (as defined in Article 19(5) of the Financial Markets and Services Act 2000 (Financial Promotion)Order 2005 (“FPO”)) and persons of a kind specified in Article 49(2) a-d of the FPO (high net worth entities, unincorporated associations, etc). Neither the receipt by any person of the Presentation nor any information supplied in connection with the proposed investment in the Company is, or is to be taken as, constituting the giving of investment, financial, taxation or legal advice by the Company. The Recipients of the Presentation should inform themselves about and observe any applicable legal requirements in relation to the receipt of this Presentation. Any Recipient is recommended to seek their own financial and legal advice and must make their own independent assessment of the Company.You hereby acknowledge that you are aware of the risks of investing generally and in particular (without limitation) that in emerging markets, such as Kazakhstan, business risks are far greater than in more developed markets (including significant legal, economic, and political risks). You acknowledge the high , g p ( g g g , , p ) g gnumber of expenses and difficulties frequently encountered by companies, such as the Company, in the early stages of development, particularly companies operating in emerging markets and you should be aware that these and/or other factors, or a combination thereof, may lead to the loss of your entire investment

Lucent Summary

• Privately owned company

• 100% of mature Sub-soil User Contract in west Kazakhstan covering 1341 km2west Kazakhstan covering 1341 km

• 2 oil & gas fields at appraisal stage

• Contingent Resources of 155 mmboe• Lebyazhye 27mmboe• Munaibai 128 mmboe

• Munaibai appraisal drilling 2017• Expansion of contract area to followExpansion of contract area to follow

successful appraisal

• Seeking investment for Early Production project on Lebyazhye field

Early Production Opportunity

Lebyazhye Field (ca. 6-12mmbbls)• Requires appraisal for horizontal

development• Stage 1Stage 1

Pilot production of 300-500bopd from re-entry of existing wells - $7.7m

• Stage 2Horizontal appraisal +300-500bopd -$11 4$11.4m

• Underlying Carboniferous potential 35-180 mmbbls - $6m

Farm-in ProposalThe company is currently seeking staged investment for Lebyazhye Field Appraisal and Development up to 50% stake in Lebyazhye is availableDevelopment, up to 50% stake in Lebyazhye is available.

Stage 1 - $8m re-entry programme for 4 wells with production facilities in 2017

Stage 2 - $11.4m for two horizontal side-tracks in 2018

Stage 3 - $6m well deepening to test large Bashkirian Reef prospect in 2019

Lebyazhye Appraisal Programme

Stage 1A total of five abandoned “heritage” wells have been drilledon Lebyazhye. A sixth well, L-14x (photo below) issuspended.. Lucent plans to re-enter three old wells, toestablish early oil production from Triassic F15 reservoirsands. Target production from the re-entry programme is

Top F15 Depth

g p y p g300-500 bopd.

Stage 2Latest mapping indicates potential fracturecompartmentalisation of the reservoir. Well J-13 (aka L-13)is planned for sidetracking in 2018. depending of theoutcome another well will be sidetracked. Target fieldproduction from Stages 1 & 2 is 700-1000bopd

“Trial/Test Industrial Production” allows for two years ofproduction and sales to the domestic market. Recentincrease in the domestic prices have made the appraisal ofLebyazhye more attractive and documentation is in place tostart end 2017

L-14X Testing 2015

Lebyazhye Bashkirian Reef Prospect

Stage 3 L-14X Deepening

Prospective Volumes

North Reef system ~ 35mmbbls

Top Bashkirian Depth

L-14X

• Can be tested by deepening Lebyazhye wells• Cost of deepening L-14X = $5-6m

South Reef system ~ 115mmbbls

Key Geological risk b hi f M i S l• breaching of Moscovian Seal

Chance of Success ~ 33%• Highly positive EMV if tested by deepening L-14x

Major regional exploration target

Poorly tested in 1980’s • wells are down-dip, off structure• massive mud losses while drilling• short 40-60 minute tests• recovered gas and large volumes of mud • potentially excellent permeability• potentially excellent permeability• Interpreted as associated gas

Oblast Boundary

Deep Well

Shallow Well

Munaibai Appraisal 2017

East Munaibai • Discovered in 2009 - 500m hydrocarbon column

• 3D seismic reprocessed 2012

• Contingent Resources

• Reserves re-determination expected after current well.

• Well LP-3 spuds April 2017

• Extension of Contract Area Q4 2017

• 2 appraisal wells in planning for 2018

• Pilot Production 2019

• Deeper Carboniferous and Devonian potentialRigging up ZJ70 (Feb 2017)Rigging up ZJ70 (Feb 2017)

LP-3 Cellar and Conductor Pipe (Jan 2017)

Contact Information

Registered office:

Lucent Oil & Gas (Cyprus) Ltd.58 Ifigenias StreetCity Home 53Office 201Strovolos 2003Nicosia, Cyprus

Almaty office:

Lucent Petroleum LLP Vision Energy Services LLPVision Energy Services LLPEsentai Tower, 14th floor, 77/7 Al-Farabi Avenue,Almaty, 050040, Republic of KazakhstanEmail: info@visoil.comTel: +77272777852Tel: 77272777852Fax: +77272777851