Corporate Presentation
June 2015
Disclaimers
Forward-Looking Information
Certain statements and information in this presentation may constitute “forward-looking statements” within the meaning of the Private Securities
Litigation Reform Act of 1995, and applicable Canadian securities laws. The words “believe,” “expect,” “anticipate,” “plan,” “intend,” “foresee,”
“should,” “would,” “could” or other similar expressions are intended to identify forward-looking statements, which are generally not historical in
nature. These forward-looking statements are based on our current expectations and beliefs concerning future developments and their potential
effect on us. While management believes that these forward-looking statements are reasonable as and when made, there can be no assurance
that future developments affecting us will be those that we anticipate. Our forward-looking statements involve significant risks and uncertainties
(some of which are beyond our control) and assumptions that could cause actual results to differ materially from our historical experience and our
present expectations or projections. Important factors that could cause actual results to differ materially from those in the forward-looking
statements include, but are not limited to, the volatility of commodity prices, product supply and demand, competition, access to and cost of capital,
uncertainties about estimates of reserves and resource potential and the ability to add proved reserves in the future, the assumptions underlying
production forecasts, our hedging strategy and results, the quality of technical data, environmental and weather risks, the ability to obtain
environmental and other permits and the timing thereof, other government regulation or action, the costs and results of drilling and operations, the
availability of equipment, services, resources and personnel required to complete Lynden’s operating activities, access to and availability of
transportation, processing and refining facilities, the financial strength of counterparties to the Company’s credit facility and derivative contracts
and the purchasers of Lynden’s production and third parties providing services to Lynden and acts of war or terrorism.
For additional information regarding known material factors that could cause our actual results to differ from our projected results, please see
our filings with the Canadian securities regulators (www.sedar.com) and United States Securities and Exchange Commisson (SEC) (www.sec.gov),
including our Registration Statement on Form 10 and Quarterly Reports on Form 10-Q.
Existing and prospective investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date
hereof. We undertake no obligation to publicly update or revise any forward-looking statements after the date they are made, whether as a result of
new information, future events or otherwise.
Certain Reserve Information
At times we use the term “EUR” (estimated ultimate recovery) and “resources” and “resource locations and potential” to provide estimates.
These estimates are by their nature more speculative than estimates of proved, probable or possible reserves and, accordingly, are subject to
substantially greater risk of being actually realized by the company.
Barrel of Oil Equivalent
Barrel of Oil Equivalent (“boe”) amounts have been calculated using a conversion ratio of six thousand cubic feet of natural gas to one barrel of
oil (6:1) to express quantities of natural gas and crude oil in a common unit. The term “boe” may be misleading, particularly if used in isolation. The
conversion ratio is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value
equivalency at the wellhead.
2 Investment Highlights
•  Consolidated land position with a large drilling inventory in the oil-rich
Permian Basin
•  Midland Basin plays rank amongst the most economic plays in North America
•  Strong working interest partner in CrownQuest
•  Experienced local operator backed by Lime Rock Partners
•  Strong track record of Wolfberry success
•  Successful execution will provide stable production base and cash flow
•  Large land position on Eastern Shelf of Permian Basin
•  Mitchell Ranch has huge potential
•  Highly reputable Management team and Board
3 Permian Basin
Prolific Permian Geology
• 
The Permian Basin is the most
prolific onshore oil basin in North
America.
Texas
• 
Increasing recoveries of original oil
in place (OOIP)
4 Corporate Overview
Summary
•  Permian Basin Oil
•  Midland Basin
•  ~5,883 net acres
•  ~ 107 producing vertical Wolfberry
wells
•  Multi-horizon horizontal potential
•  Transition to horizontal testing
about to begin
•  Eastern Shelf
•  ~104,000 acres
•  Multiple conventional targets
•  Multiple resource play targets
Capital Structure
As at June 1, 2015
Shares Outstanding:
Options:
Fully Diluted:
Institutions:
Retail and Other:
~130.2 million
4.2 million
~134.4 million
~45%
~55%
Significant Shareholders: JVL Advisors, et al. ~21%
5 Fiscal 2015 PN&G Operations
Summary
Three months ended
Mar 31, 2015
Net Revenues
Petroleum
Natural gas
Natural gas liquids
$
Production and operating expenses
Net back
$
Production
Petroleum (bbl)
Natural gas (mcf)
Natural gas liquids (bbl)
Total barrel of oil equivalent (boe)
Daily production averages
Petroleum (bblpd)
Natural gas (mcfpd)
Natural gas liquids (bblpd)
Total barrel of oil equivalent (boepd)
Average prices
Petroleum (per bbl)
Natural gas (per mcf)
Natural gas liquids (per bbl)
Total barrel of oil equivalent (per boe)
$
$
$
$
2,975,681
485,205
238,865
Three months ended
Dec 31, 2014
$
4,461,778
616,750
880,144
Three months ended
Sept 31, 2014
$
6,248,076
683,538
1,003,253
3,699,751
5,958,672
7,934,867
(1,959,220)
(1,371,456)
(1,324,362)
1,740,531
$
4,587,216
$
6,610,505
64,017
166,531
29,738
121,510
69,013
170,501
30,668
128,098
72,402
169,821
30,305
131,010
711
1,850
330
1,350
750
1,853
333
1,392
787
1,846
329
1,424
46.48
2.91
8.03
30.45
$
$
$
$
64.36
3.54
28.41
46.11
$
$
$
$
86.30
4.03
33.11
60.57
6 First Half Fiscal 2016 Capital Plan
Summary
Remaining activities under Fiscal 2015 capital plan:
•  spud 1 gross horizontal Midland Basin well
•  spud 1 gross vertical Midland Basin well
From July 1, 2015 to December 31, 2015, the capital plan is $9.2 million:
•  $3.4 million for the participation in 4 gross vertical Midland Basin wells
•  $4.0 million for the participation in 1 gross horizontal Midland Basin well
•  $1.8 million for the participation in 1 horizontal Wolcott Lease well
The Company’s capital budget is subject to change depending upon a number of factors, including economic and industry conditions at the time of drilling, prevailing and anticipated prices for oil and gas, the
availability of sufficient capital for drilling prospects and the Company’s financial results.
7 Corporate Overview
Strong Board of Directors
Colin Watt, President, CEO and Director
•  15 years of public resource company management experience
•  President of Squall Capital Corp., a private Canadian based company which specializes in
financing, restructuring and providing management services to early stage public companies
•  President of Lynden Energy since 2005
Robert Bereskin, PhD; Director
•  Adjunct Professor at the University of Utah
•  Geologist, over 30 years experience in the oil and gas industry
•  Recent focus on unconventional gas-bearing shale reservoirs in the United States and Canada,
where he has assisted with several international and domestic exploration/ exploitation efforts
John McLennan, PhD; Director
•  Associate Professor at the University of Utah, engineer, completion specialist
•  Senior Research Scientist at Energy & Geoscience Institute
•  Former Technical Director with ASRC Energy Services
•  Former Executive Vice President with TerraTek, Inc
Derek Michaelis, Director
•  Equity oil and gas analyst with JVL Advisors, LLC, a private energy investment company in
Houston, Texas
•  B.A. in Economics from Rice University
Ron Paton, Director
•  Securities lawyer with Owen Bird of Vancouver, British Columbia
8 Corporate Overview
Strong Partner in CrownQuest
• 
Midland based CrownQuest Operating LLC is the operator on the vast majority
of our acreage
•  Solid history of success (GE partnerships) and substantial backing by Lime
Rock Partners
• 
CrownRock LP, a partnership between
Lime Rock Partners and the principals of
CrownQuest, is our working interest
partner in the majority of our leases
• 
Well-known, successful, local Permian
Basin operator
9 Midland Basin
Vertical Wolfberry
• 
Originally, operators commingled
production from the Wolfcamp
and Spraberry horizons, and
coined the term “Wolfberry”
• 
Wolfberry now refers to any well
with commingled production from
the Mississippian through the
Spraberry
• 
Wolfberry completions are
generally undertaken in a 2,500 to
3,000 foot gross interval located
between 7,000 to 11,500 feet
drilling depth typically
Wolfberry
The Wolfberry resource play is pervasive in the Midland Basin
10 Midland Basin
Horizontal Potential in Multiple Horizons
Several horizontal resource plays being delineated
• 
Horizontal development in the Midland
Basin is exceeding original expectations
• 
Increasing industry activity de-risking
play
• 
Production data from these wells
supports strong EURs and returns
• 
Vertical Wolfberry confirms quality of
acreage
• 
Prospective in 8+ separate horizons
11 Midland Basin
Acreage Position
County
Martin
Midland
Glasscock
Howard
Total:
Gross
Acres
Lynden Net
% Interest
Lynden Net
Acres
1,757
43.75
769
1,127
20.00
225
640
43.75
280
4,480
43.75
1,960
6,121
40.625
2,487
640
25.39
162
14,765
5,883
All acreage numbers and interests are approximate and subject to revision • 
High net revenue interest leases (75%+)
• 
Lynden provides proportional carry on initial D&C costs
(e.g. Lynden funds 50% of costs to receive 43.75%
working interest)
12 Development Model
960 acres (1 ½ sections)
Locations
Vertical
40 Acre
Vertical
20 Acre
Horizontal
24
48
4 per horizon
Prospective Horizons
•  Clearfork
•  Lower Spraberry
•  Middle Spraberry
•  Wolfcamp A, B, and C
•  Wolfcamp D (Cline)
•  Atoka / Mississippian 13 Martin / Midland Counties
Industry Reported Horizontal Type Curve Well Economics
Pioneer Natural Resources1
Parsley Energy2
RSP Permian3
Diamondback Energy4
Lower
Spraberry
Wolfcamp A
Wolfcamp B
Wolfcamp
Lower Spraberry
Wolfcamp B
Lower
Spraberry
(Martin)
Lower
Spraberry
(Midland)
EUR
(MBOE)
1,000
1,000
1,000
1,000
710
638
810
990
D&C Cost
$9M
$9M
$9M
$7M
$6.3M
$6.5M
$6.5M
$6.5M
Lateral
Length
9,000’
9,000’
9,000’
7,000’
7,500’
7,500’
7,500’
7,500’
Source:
1 Pioneer Natural Resources May 2015 Investor Presentation
2 Parsley Energy June 2015 Investor Presentation
3 RSP Permian May 2015 Investor Presentation
4 Diamondback Energy May 2015 Investor Presentation
This analogous information is derived from publicly available information sources which the Company believes are independent but may not have been prepared by qualified reserves evaluators or in accordance with the
Canadian Oil & Gas Evaluation Handbook. There is no certainty that development on the Company’s properties will be successful to the extent to which the development on the analogous lands was successful, or at all.
14 Glasscock County
Industry Reported Horizontal Type Curve Well Economics
Laredo Energy¹
Energen Corporation2
Wolfcamp A
Wolfcamp B
Wolfcamp C
Cline
Wolfcamp A
Wolfcamp B
EUR (MBOE)
850 / 1,100
750 / 1,100
700
725 / 1,000
850 / n/a
850 / n/a
D&C Cost
$6.3M / $7.3M
$6.5M / $7.5M
$6.6M
$6.9M / $8M
$6.1M / $8M
$6.3 / $8.2M
Lateral
Length
7,500’ / 10,000’
7,500’ / 10,000’
7,500’
7,500’ / 10,000’
7,500’ / 10,000’
7,500’ / 10,000’
Source:
1 Laredo Energy May 2015 Investor Presentation
2 Energen Corporation May 2015 Investor Presentation
This analogous information is derived from publicly available information sources which the Company believes are independent but may not have been prepared by qualified reserves evaluators or in accordance with the
Canadian Oil & Gas Evaluation Handbook. There is no certainty that development on the Company’s properties will be successful to the extent to which the development on the analogous lands was successful, or at all.
15 Glasscock County
Wind Farms Prospect Area
Gross Acres: 4,480
Net Acres: 1,960
Lynden’s Net Interest: ~ 43.75%
Initial horizontal locations
•  Wind Farms area scheduled to be initial
horizontal appraisal area on CrownQuest
operated Lynden acreage
•  First target horizon expected to be Wolfcamp A
•  Success would be followed by horizontal
development program
•  18 gross potential short horizontal locations at
4 per section for each prospective horizon
Example: four perspective horizons = 4 x 18 =
72 short (5,000’) horizontal locations
Producing Vertical Well
Potential Vertical Well Location
•  Contiguous acreage block allows for efficient
layout of long laterals
16 Howard County
Tubb Prospect Area
Gross Acres: 6,761
Net Acres: 2,640
Lynden’s Net Interest: ~ 25.39 – 40.63%
•  Ongoing vertical well program to
perpetuate leases
•  Improvements in vertical well completion
practices
•  Potential for non-Wolfberry targets (eg.
Fusselman)
•  Increasing vertical and horizontal well
activity by other operators in Howard
County
•  Contiguous acreage block allows for
efficient layout of long laterals
Athlon Energy
Tubb 39 #5H
24 hr IP 2,351 boe/d
30 day IP 1,594 boe/d
73% oil, 6,705’ lateral
Lynden Producing Vertical Well
This analogous information is derived from publicly available information sources which the Company believes are independent but may not have been prepared by qualified reserves evaluators or in accordance with the
Canadian Oil & Gas Evaluation Handbook. There is no certainty that development on the Company’s properties will be successful to the extent to which the development on the analogous lands was successful, or at all.
17 Key Midland Basin Industry Trends
• 
Increasing Recoveries of OOIP
• 
Ability to exploit multiple
hydrocarbon formations at depth
and along strike
• 
Efficiency gains from pad drilling
and stacked horizontals
• 
Internal rates of return
• 
• 
Vertical vs. horizontal wells
Benefits of decreased drilling &
completion costs, and increased
lateral length, have the potential to
offset decreased oil prices
18 Eastern Shelf
Mitchell Ranch Overview
• 
Unique opportunity in terms of size,
contiguous nature and potential
• 
Covers 165 square miles on Eastern
Shelf
• 
50% working interest in ~104,000
gross and net acre lease
• 
Several pay zones
• 
Typically shallower than 8,000 feet
• 
Favorable land terms
Mitchell
Ranch
19 Mitchell Ranch
Tremendous Geological Potential
•  Several High-Impact
Resource Play Targets
•  Wolfcamp
•  Cline shale
•  Mississippian
Midland Basin to Eastern Shelf
Simplified Stratigraphic Section
Mitchell Ranch
20 Mitchell Ranch
Targets
•  Vertical Wolfcamp, commingled zones
• 
Analogous to the Wolfberry approach
• 
Targeting 100-125 MBOE per well
• 
Multiple Wolfcamp intervals
• 
Located between 3,400 and 7,300 feet
• 
Addition of other zones below the Wolfcamp
•  Horizontal Wolfcamp
• 
Multiple intervals in Wolfcamp (A,B,C,D) being tested
throughout the Permian Basin
• 
Increasing industry activity unlocking well design and
completion recipe in some areas
•  Mississippian Centered Resource Plays
• 
Located between 7,200 and 7,800 feet
• 
3 horizontals and 2 verticals drilled on acreage by
Chesapeake
21 Mitchell Ranch
Seismic
A’
A
• 
3D seismic across ranch currently being interpreted
• 
Identification of anomalies, dipping beds, general stratigraphy, and structure
• 
Debris flow and reef targets identified within Wolfcamp
• 
Mississippian / Ellenburger interpretation and target refinement
Mitchell Ranch
A
A’
2000’
Clearfork
3700’
WFMP
Reef
4500’
WFMP
Detrital
6000’
WFMP
Base
7300’
Cline
8600’
GRNT
22 Mitchell Ranch
Measured 2015 Capital Program
•  4 vertical well program underway
•  Spade 17 #3 – testing
•  Spade 1 #1 – testing
Purvis Operating
9+ Wolfcamp wells
~500 bopd
New location Spade 5 #1
•  Spade 18 #1 – testing
•  Spade 5 #1 – testing
•  Leveraging knowledge
•  Multiple completions in
Spade 17 #1
•  5 Chesapeake drilled wells
•  Offsetting drilling activity
•  3D seismic target generation
Producing Spade 17 #1
•  Significant potential to add
production and reserves
New locations:
Spade 17 #3, 1 #1 , 18 #1
Chesapeake
5 wells (3 Hz)
Rose Creek Field
Wolfcamp debris flow
23 Opportunity Overview
Summary
•  Midland Basin
• 
• 
• 
• 
• 
Operator has drilled or participated in several hundred Wolfberry wells
Established land position
Predictable nature allows for debt financing
Industry rapidly delineating horizontal plays
Transitioning to horizontal development
•  Eastern Shelf
• 
• 
• 
• 
Very large acreage position
Multiple zones of interest
Play supported by extensive technical work-up
Opportunity to leverage the success of others
24 Attractive Valuation Equation
Summary
•  Consolidated land position with a large drilling inventory in the oil-rich
Permian Basin
•  Midland Basin plays rank amongst the most economic plays in North
America
•  Strong working interest partner in CrownQuest
•  Experienced local operator backed by Lime Rock Partners
•  Strong track record of Wolfberry success
•  Successful execution will provide stable production base and cash flow
•  Large land position on Eastern Shelf of Permian Basin
•  Mitchell Ranch has huge potential
•  Highly reputable Management team and Board
25 Contact Information
Lynden Energy Corp.
Suite 1200
888 Dunsmuir Street
Vancouver, British Columbia
Canada V6C 3K4
Tel: 1 604-629-2991 TSX Venture Exchange: LVL
26