Sepac Investor Showcase November 2012

OIL & GAS

INVESTOR SHOWCASE Investing opportunities with a select group of Canada’s most dynamic junior and mid-cap oil & gas producers Wednesday, November 21, 2012 | 9:00 am – 4:00 pm The Metropolitan Conference Centre, 333 – 4th Avenue SW, Calgary

FREE ADMISSION | OPEN TO THE PUBLIC | NO REGISTRATION

Canada’s oil & gas entrepreneurs™

1060-717 7 avenue sW Calgary, alberta t2p 0Z3 p: 403.269.3454 F: 403.269.3636 e: info@sepac.ca

on BehaLF oF the Board of Governors and members of SEPAC, Canada’s Oil and Gas Entrepreneurs™, I invite you to attend our Oil & Gas Investor Showcase on Wednesday, November 21, 2012. The Investor Showcase provides a great opportunity for investors, fund managers, analysts and the media to gain insight from the CEOs of Canada’s leading junior and mid-cap oil and gas producers.

SEPAC is delighted to have the support of our Event Sponsor, KPMG, as well as all our valued sponsors who help us produce this key event on Calgary’s business calendar.

We will start the showcase with a keynote presentation by Mr. Lauchlan Currie, president of ARC Financial Corp. Mr. Currie will explore the theme of entrepreneurship in the Canadian oil and gas industry, and changes in the business.

SEPAC’s Oil & Gas Investor Showcase is the only investment conference focused on the exploration and production sector this year in Calgary. We hope your attendance provides you with useful and timely information and insight on the diverse investing opportunities among Canada’s junior and mid-cap companies.

I look forward to seeing you at The Metropolitan Conference Centre on Wednesday, November 21st.

Sincerely,

Gary C. Leach Executive Director SEPAC, Canada’s Oil and Gas Entrepreneurs™

SMALL EXPLORERS AND PRODUCERS ASSOCIATION OF CANADA www.sepac.ca

Oil Tanks for

sale rent or

Tank hauling and picker service.

CALROC Industries, Lloydminster, AB www.calrocindustries.com

403.613.7134 | 403.852.0966

Table of

Contents

Welcome Letter . . . . . . . . . . . .

Introduction and Session Sponsors . . . . . . . . . . . . . .

Executive Director Gary Leach Event & Communications Director Michelle Chidley Office Manager Dana Robertson

3

6&7

Profiles Birchcliff Energy Ltd. . . . . . . . . . . . . . . 10 Cequence Energy Ltd. . . . . . . . . . . . . . . 11 Crown Point Energy Inc.. . . . . . . . . . . . . 12 DualEx Energy International Inc. . . . . . . . . 13

JUNEWARREN-NICKLE’S ENERGY GROUP President & CEO Bill Whitelaw Editor, Special Projects Rianne Stewart Editorial Assistance Janis Carlson de Boer, Brandi Haugen

Hyperion Exploration Corp. . . . . . . . . . . 14

Graphic Designer Paige Pennifold

Invicta Energy Corp. . . . . . . . . . . . . . . 15

Ad Traffi c Coordinator Denise MacKay

LGX Oil + Gas Inc. . . . . . . . . . . . . . . . . 16

1060-717 7 Avenue SW Calgary, Alberta T2P 0Z3 Phone: (403) 269-3454 Fax: (403) 269-3636

Fall 2012 SEPAC Oil & Gas Investor Showcase publication was produced by SEPAC and JuneWarren-Nickle's Energy Group

Long Run Exploration Ltd. . . . . . . . . . . . 17 Manitok Energy Inc.. . . . . . . . . . . . . . . 18 Palliser Oil & Gas Corporation . . . . . . . . . 19 Petromanas Energy Inc.. . . . . . . . . . . . . 20 Peyto Exploration & Development Corp . . . . 21 Pine Cliff Energy Ltd. . . . . . . . . . . . . . . 22 Surge Energy Inc. . . . . . . . . . . . . . . . . 23

Senior Account Executive Diana Signorile OFFICES Calgary 2nd Flr-816 55 Avenue NE Calgary, AB T2E 6Y4 Tel: (403) 209-3500 Fax: (403) 245-8666 Toll-free: 1-800-387-2446 Edmonton 220-9303 34 Avenue NW Edmonton, AB T6E 5W8 Tel: (780) 944-9333 Fax: (780) 944-9500 Toll-free: 1-800-563-2946

Tuscany Energy Ltd. . . . . . . . . . . . . . . . 24

About SEPAC SEPAC, Canada’s Oil and Gas Entrepreneurs™, advocates on behalf of its member companies for sound government policy that promotes a thriving independent oil and gas sector.

SEPAC was founded in 1986 as the Small Explorers and Producers Association of Canada. Today the Association represents a wide spectrum of independent oil and gas companies ranging from start-ups to junior and mid-sized producers operating in Canada, the United States and around the world.

SEPAC’s core Producer Members are supported by a strong contingent of Associate Member companies supplying technology, products and services to the upstream oil and gas industry.

Our Association’s mission is to: ADVOCATE to governments, policy makers and regulators to ensure that the interests of our members are reflected in a fiscal and regulatory framework that encourages investment and supports a prosperous oil and gas industry; COMMUNICATE essential industry news, events and information to our members and communicate our Association’s views and perspectives to the public, community leaders and media; and EDUCATE Canadians about the important contribution the junior and mid-sized oil and gas producers make to ensure Canada’s present and future energy needs are met while creating jobs and investment in the communities where our members operate.

Fall 2012 – SEPaC Oil & GaS invEStOr ShOwCaSE 5

introduction and session sponsors

shoWCase highLights The SEPAC Oil & Gas Investor Showcase offers a unique setting for investors to get immediate, first-hand information from the CEOs of some of Canada’s leading junior and mid-cap oil and gas producers. This event attracts hundreds of retail investors, industry analysts, oil and gas executives, and media.

If you have attended the Investor Showcase in the past, please note that the location has changed. Please join us across the street from the Westin at the Metropolitan Conference Centre. With the change in venue, you will notice some differences in how the event is formatted. We will be utilizing both the main and +15 levels of

the Metropolitan Centre, and introducing refreshment breaks to the schedule in the morning and afternoon.

Keynote speaKer SEPAC is pleased to have Mr. Lauchlan J. Currie, president of ARC Financial Corp., deliver the keynote presentation.

Lauchlan is responsible for ARC’s investment activities where he leads the team responsible for managing existing fund investments, and identifying and developing new investment opportunities.

He is a member of ARC’s Executive, Investment and Strategy committees.

Lauchlan currently represents ARC on the board of Capio Exploration Ltd. and Tangle Creek Energy Ltd.

Mr. Currie holds an M.B.A. from Queen’s University and a B.Sc. in Geology from the University of Calgary, and he is a designated P.Geol. in Alberta. His community involvement includes: past chairman of the Board of the Glenbow Museum, former Oil & Gas Section chairman of the United Way, past Fundraiser of the Year for the Calgary Homeless Foundation and member of the 2012 Advisory Council of The Calgary Stampede.

Mr. Currie’s keynote speech will kick off the Investor Showcase program in the Ballroom at 9:00am. Join us for his presentation “Entrepreneurism in Canadian oil and gas, and the changes in our business.”

McMillan’s Energy Law Group consists of leading professionals across Canada with a wide breadth of experience and recognized expertise providing legal services and advice to the oil and gas industry.

For more information on our experience and capabilities, please visit our website, or contact Richard Peters at richard.peters@mcmillan.ca.

Vancouver l Calgary l Toronto | Ottawa l Montréal l Hong Kong | mcmillan.ca

6 Fall 2012 – SEPaC Oil & GaS invEStOr ShOwCaSE

Introduction and Session Sponsors

Corporate Presentations The corporate presentations will all take place on the main level of the Metropolitan Conference Centre in the Ballroom and Lecture Theatre.

Each company at the Showcase will give a 25-minute presentation about their plans to grow their oil and gas production, whether through the drill bit or via acquisitions or mergers.

Read the corporate profiles of our presenting companies in this magazine to decide which sessions you would like to attend.

Presenting Company Booths The companies presenting in the Investor Showcase will have booths set up in the Strand-Tivoli Room on the +15 level of the Metropolitan Conference Centre. We welcome you to visit this room throughout the day to meet representatives from the presenting companies, and pick up quarterly and annual reports, and other timely investor-related information.

Visit the Investor Showcase page on our website (www.sepac.ca) to view the presentation schedule.

Sponsor Booths Spread throughout the venue, you will find display booths staffed by the sponsors of

Also in the Strand-Tivoli Room you will find refreshments, compliments of our generous sponsors.

the SEPAC Investor Showcase. Take some time and visit with these companies who are great supporters of the junior and midcap oil and gas industry in Canada, and who have made this event possible.

Webcast Presentations With concurrent sessions running throughout the day it is impossible to take in every presentation. To ensure that you don’t miss out, we will be webcasting all the presentations from the Investor Showcase.

Audio and slides from the keynote presentation and presenting company sessions will be posted to the SEPAC website by 2:00 pm on November 26, and remain live for a couple of months. Visit www.sepac.ca for a link to the webcast page.

www.pwc.com/ca/energy At BDO we believe a greater understanding of our clients’ challenges and opportunities yields stronger insights and better results.

A PARTNER WHO’S NOT AFRAID TO DIG A LITTLE DEEPER. Experience working closely with oil and gas clients in Canada and across the globe has given us the knowledge and experience you can count on.

BDO. MORE THAN YOU THINK.

Set to grow We’ll work with you to develop a strategy for sustainable growth

Contact: Alisa Sorochan Assurance | Accounting | Tax | Advisory

403 509 6642

620 - 903 8th Ave SW Calgary AB www.bdo.ca

alisa.sorochan@ca.pwc.com

© 2012 PricewaterhouseCoopers LLP, an Ontario limited liability partnership.

All rights reserved. 2158-01 1012

Fall 2012 – SEPAC Oil & Gas Investor Showcase 7

See the heart of the oilsands like you’ve never seen it before!

Explore the Athabasca oilsands region using the new interactive Canadian Oilsands Navigator.

Visit the oilsands with the click of a button. canadianoilsandsnavigator.com

• Lease ownership • Operating and upcoming project locations • Operating project details • Project development timelines • Key performance indicators • Company-specific capital expenditures

Wellsite Supervision and Project Management for Small Explorers and Producers • Drilling, Completion, Construction Supervision • International and Offshore Supervision

• Drilling, Completion, Production Engineering • Safety Programs and Audits

Suite 300 Iveagh House 707, 7th Avenue S.W. Calgary, AB Canada T2P 3H6

T 403 264-1197 F 403 264-1584 www.pajakeng.com

canadianoilsandsnavigator.com

INDUSTRY LEADER

IN WELL SERVICING for 30 years

“Performance Excellence – Second to None” Fleet of 99 service rigs inclusive of: • Mobile Singles • Mobile Doubles

• Skidded Doubles

• Slant rigs

GRANDE PRAIRIE • NISKU • RED DEER • BROOKS • ARDMORE • LLOYDMINSTER • ESTEVAN www.ensignenergy.com

Calgary sales 403.265.6361

After 10 years of providing Land and Environmental services throughout BC and Alberta, we have witnessed the evolution of the energy industry. Our company has taken great pride in itself on driving regulatory policy, cooperative project planning with our clients, and the active role we play within our community.

www.opsatlas.com

As we move into the next 10 years, we are excited to announce a new face for BV Land and Northern Rockies. As of October 1, 2012, BV Land Consulting Ltd. and Northern Rockies Environmental Services Ltd. will be combined under our new name: BV Land Corp.

With continued service from our Fort St. John and Calgary offices, we look forward to the new opportunities and challenges the next decade will bring and are eager to share in them with our new and existing clients as well as all the folks we have met along the way.

Corporate Office: 9807-100th Avenue Fort St. John, BC V1J 1Y4 Office: 1-250-785-6340 Fax: 1-250-785-6351 Ft. St. John: 1-250-261-1802

Calgary Office: Suite 203A 708-11th Avenue SW Calgary, AB T2R 0E4 Office: 1-403-718-9587 Calgary Cell: 1-403-860-9634

Email: brianv@bvland.com

Website: www.bvland.com

Calgary and Houston based OPS Atlas Inc. is internationally accredited by NEBOSH through OPS Consultancy & Training (UK) to conduct Occupational Health & Safety Training and hold examinations for: • International General Certificate • International Oil & Gas Certificate • International Construction Certificate

Corporate proFiLe

TSX:BIR

CORPORATE PROFILE October 25,2012 CORPORATE SUMMARY 2010 Average Production 2011 Average Production Q2 2012 Average Production Estimated Current Production 2012 Estimated Exit Production

PEACE RIVER ARCH AREA OF ALBERTA

13,079 boe/day 18,136 boe/day 22,039 boe/day 25,500+ boe/day 26,000 boe/day

75% Natural Gas, 25% Light Oil Operating Costs per BOE 2012 Q2 Cash Flow 2012 Q2 Earnings 2011 Capital Expenditure Program 2012 Capital Expenditure Program Debt Pro Forma June 30, 2012 Total Credit Facilities Undeveloped Land (Acres) 2011 Finding & Development Costs (P+P) December 31, 2011 AJM Reserves Number of Common Shares Preferred Shares Warrants, Aug 19, 2014 Market Capitalization Enterprise Value

08|$10.41 – 09|$8.89 – 10|$7.70 – 11|$6.75 – 12 – Q1|$6.17 – 12 – Q2|$6.22 $26 Million $0.4 Million $237.4 Million $292 Million $353 Million $540 Million 552,355 Gross (514,814 Net) $2.88/BOE BFC – $12.01/BOE WFC 275.4 Million BOE – 36 Year RLI (21,100 boe/d) 141.3 Million 2 Million – BIR.PR.A 6 Million – $8.30 – BIR.WT $1 Billion $1.4 Billion

strategy: groWth By the DriLL Bit

montney/Doig natUraL gas resoUrCe pLay

High working interest, operated production, low operating costs, surrounded by a large, undeveloped land base where BIR has ownership control or access to infrastructure.

• High Initial Deliverability | Steep Initial Decline | Low Terminal Decline | Stable Long Term Production.

• Large areal extent, thick gross stratigraphic interval average 1,000 ft with varying rock quality.

Keys to sUCCess

93% average working interest in undeveloped land 95% of production is operated 99% of new drilling and completions, initiated and controlled by BIR

• From November 2007, drilled and cased 90 (78.2 net) Montney/Doig horizontal natural gas wells and significantly built out infrastructure.

WorsLey Light oiL resoUrCe pLay – CharLie LaKe • Essentially 100% WI, light oil, operated, pipelined to controlled infrastructure.

• AJM estimates ~ 363 million BOE of light oil in place. All about waterflood recovery factor, extension of pool, reduction of operating costs.

• Immediate plans include: Extension of light oil pool to the north & south, recompletion opportunities, drilling infill development opportunities, expansion of waterflood and application of horizontal drilling.

• 2012 – Continue to drill, 11 horizontal wells, utilizing multistage fracture stimulation technology and 5 vertical wells.

• $2.5M to drill case, complete and equip each horizontal well, IP rates of up to 500 BOE/ day, ultimate recovery 220,000 boe.

other resoUrCe pLay LanD – Birchcliff holds: • 126,560 (125,715 net) acres on the Duvernay Resource play, 99% working interest • 460,480 (394,461 net) acres on the Nordegg Resource play, 85% working interest • 422,880 (414,696 net) acres on the Banff/Exshaw Resource play, 98% working interest

• Each horizontal well costs approximately $5.8 million to drill, case, complete and tie in. Type well IP rate 7.5 mmcf per day, averages 5.3 mmcf per day over first 30 days.

For internal purposes, Birchcliff forcasts recovery of 6 BCFe per horizontal well.

• Drill minimum of 4 hz wells per section/play (competitors drill up to 8 wells/section) • Birchcliff controls 494 net sections of either Montney or Doig rights. Only 25% of BIR Montney/Doig lands have proved plus probable reserve bookings • >1,850 net potential horizontal natural gas locations, at 4 wells per section per play • >$10 billion of drilling opportunities • At Dec. 31, 2011, 227.6 mmboe (1.3 TCF + 8,216 mboe liquids) proved plus probable reserves booked on the Montney/Doig play, 122.2 net out of 494 net sections and 295.4 net future horizontal wells out of 1,850 net potential horizontal wells are in the AJM Evaluation. Increases expected over time from well performance, wells per section, reserves per well and ultimate recovery.

• Technology is changing quickly, costs are being reduced, reserve recovery increasing.

Birchcliff Boe per Day production

2012 CapitaL BUDget: $292.2 miLLion 2012 CAPITAL BUDGET Drilling & Development Basal Doig/Upper Montney HZ Gas Wells Middle/Lower Montney HZ Gas Wells Other Gas Wells Worsley Charlie Lake HZ Oil Wells Worsley Charlie Lake Vertical Oil Wells Other Oil Wells Disposal Well TOTAL DRILLING & DEVELOPMENT Facilities Production Optimization Land, Seismic & Other TOTAL NET CAPITAL

GROSS WELLS

NET WELLS

NET CAPITAL $(MILLIONS)

3.0 17.0 0.0 11.0 0.0 1.0 0.0

3.0 17.0 0.0 11.0 0.0 0.03 0.0

$27.2 $122.1 $1.9 $34.8 $0.7 $0.2 $1.0

32.0

31.03

$187.9 $67.7 $23.7 $12.9 $292.2

25,000 20,000 15,000 10,000 5,000

BOE

10 Fall 2012 – SEPaC Oil & GaS invEStOr ShOwCaSE

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Corporate proFiLe

TSX:CQE

MANAGEMENT paul Wanklyn President & CEO

Cequence Energy Ltd. is a resource play–focused company with current production of 9,000 barrels of oil equivalent per day. Cequence is taking advantage of its land base at Simonette, Alberta, with more than 500 potential stacked drilling locations.

In addition to the large inventory of prospects and exceptional deep basin expertise, Cequence’s financial strength provides flexibility to react to changing market conditions and consolidation opportunities.

howard Crone, p.eng Executive Vice President & COO David gillis, Ca Vice President, Finance & CFO James r. Jackson, p.eng, CFa Vice President, Engineering David p. robinson Vice President, Geology Christopher C. soby Vice President, Land

DEEP BASIN FOCUSED Cequence possesses the following critical elements, which we believe position the company for continued success in the Deep Basin:

stephen r. stretch Vice President, Geophysics

• A technical team with proven Deep Basin expertise;

mike stewart Vice President, Operations

• Multi-zone resource plays where operating synergies and stacked targets can reduce costs; • Access to gathering and processing facilities to guarantee timely, cost-effective development; • A focus on liquids-rich gas targets that produce breakeven economics at sub $3.00 per GJ gas prices; 500+ drilling locations at Simonette; • A balance sheet that allows for prudent capital spending in a low-price environment.

Simonette has all the critical elements required for a substantial growth area.

Cequence has more than 165 net sections of land with multi-zone potential at Simonette and maintains operatorship of the entire block. Cequence’s recent winter drilling program

erin thorson, Cma Controller

BOARD OF DIRECTORS Daryl Gilbert Don Archibald Chairman Peter Bannister Paul Colborne Robert C. Cook Howard Crone Brian Felesky James K. Gray Francesco Mele Paul Wanklyn

HEAD OFFICE

focused on the Montney

3100, 525 - 8 Avenue SW

reservoir at Simonette, and

Calgary, Alberta T2P 1G1

results have exceeded

T: 403-229-3050

our expectations.

F: 403-229-0603 E: info@cequence-energy.com W: www.cequence-energy.com

CONTACT INFORMATION

Key Data Production - Current

9,000

Shares outstanding

192mm

Market cap.

325 million

Gas weighting

87%

paul Wanklyn President & CEO pwanklyn@cequence-energy.com David gillis VP, Finance and CFO dgillis@cequence-energy.com

Fall 2012 – SEPaC Oil & GaS invEStOr ShOwCaSE 11

Corporate proFiLe

TSX-V:CWV

12 Fall 2012 – SEPaC Oil & GaS invEStOr ShOwCaSE

Corporate proFiLe

TSX-V:DXE • Fully funded, drill ready prospect in tunisia-expected spud Q4 2012 / Q1 2013.

• Cash flow positive, zero debt.

• opportunity for significant expansion of production and resource base with prospects in tunisia.

• projects are close to infrastructure that has significant takeaway capacity.

Bouhajla Permit – Onshore Tunisia

Bouhajla North 3D Seismic Survey February–March, 2012

MANAGEMENT & DIRECTORS

Sebkhia de El Hani

Bouhajla North

Garry Hides President, CEO, Director

Bouhajla Northeast

Ken Tompson Executive VP, COO, Director

Sidi el Kilani

Lorne Morozoff VP Finance & CFO Abderrahim Chebbi General Manager, Tunisia

Original Bouhajla Permit Area: 416km2

David Rain Director Roy Hudson Director

Bouhajla

KT1 & KT2

Bouhajla Southeast

Bouhajla Expansion April 2012 KT Block

Bouhajla North • Spudding of initial well expected in Q4 2012 / Q1 2013. Drilling contract has been awarded, waiting on rig (next in queue).

• Analogue field, Sidi el Kilani (22 km to the South East) has produced 48 MMBO of 41˚ API light, sweet crude.

• DualEx maintains operatorship with 52.5% interest. Partner to fund initial $7.25M of seismic and drilling program.

Ktittir (KT) Expansion Block • Based on existing 2D seismic and legacy wells, DualEx is targeting the El Gueria, Bireno and Abiod formations, all prolific producing zones in Tunisia.

• 3D seismic and contingent well planned for 2013.

Additional Prospects • Additional prospects: Bouhajla Northeast, Bouhajla Southeast, and Bouhajla KT1 and KT2, identified on the block.

John Nelson Director Bradley Porter Director

CONTACT INFORMATION 200, 521 - 3rd Avenue SW Calgary, Alberta Canada T2P 3T3 Phone: +1 (403) 265-8011 Fax: +1 (403) 265-8022 www.dualexen.com

INVESTOR RELATIONS Jeremy Dietz The Equicom Group Phone: +1 (403) 218-2833

Penészlek Field, Northeast Hungary

Pen-20 Pen-9

Penészlek Hungary Pen-10

Pen-19 Pen-14 Pen-8

Nagybánháza Pen-105A 1487m

Pen-102 1500m

Pen-101A Pen-12 1620m Pen-106

Pen-52

• Two natural gas wells, including the recently drilled and completed PEN-105A, are producing 700 mcfe/d, net to DualEx. • Current natural gas price in Hungary is over US$15/mcf, which generates approximately $300,000 in revenue per month.

Pen-7 Pen-13 Pen-7 1375m Pen-2 Pen-15 Pen-51 Pen-1 Pen-3 Pen-4

Romania

Pen-11

Fall 2012 – SEPaC Oil & GaS invEStOr ShOwCaSE 13

Corporate proFiLe

TSX-V:HYX hyperion is a publicly traded, high-growth junior light oil and gas company resulting from the recapitalization of triple 8 energy Ltd. in July 2010. hyperion’s business strategy is to grow through acquisitions, which lead to lower risk, scalable and repeatable development drilling projects. hyperion's core alberta operations are in north pembina, Buck Lake, garrington, niton/mcLeod and Chip Lake areas.

HIGHLIGHTS

MANAGEMENT Trevor Spagrud President, Chief Executive Officer and Director

Recently secured over 22,600 net acres of Cardium light oil prospective undeveloped land, multiple public and private undeveloped land acquisitions and a farm-in transaction.

Larry Hammond Chief Operating Officer Doug Bailey Chief Financial Officer

In addition, completed four acquisitions since 2010. Gained scale and repeatability in established Cardium light oil producing areas.

Tim Gee Vice President, Engineering

215 unbooked locations (205 targeting tight oil) to provide the opportunity for strong, operated, organic growth in 2012, 2013 and beyond.

Ryan Heath Vice President Land & Business Development

2012 capital budget includes 12 gross (9.3 net) total wells, including 11 gross (8.3 net) Cardium horizontal light oil wells.

Steve Horth Manager, Exploration

BOARD OF DIRECTORS

HYPERION LAND BASE

Rod Maxwell Dan O’Neil Greg Turnbull Greg Bay Trevor Spagrud

Approximately 66,000 acres of undeveloped land in west-central Alberta.

INVESTOR RELATIONS Doug Bailey Chief Financial Officer dbailey@hyperionexploration.com Suite 2010, 355-4th Ave SW Calgary, AB T2P 0J1 Tel: 403.930.0703

Including approximately 37,000 acres in the Cardium fairway.

2012 RESERVES

Recent Price: $0.65

PROVED PRODUCING (mboe)

Avg. Daily Volume: 140,000 Shares Out. (basic): 54.2mm

NAV BUILD – PRO FORMA

Oil Guidance

1,800 1,600 1,400 1,200 1,000 800 600 400 200 0

Q3/ 2010

Actual

Q4/ Q2/ Q3/ 2010 2011 2011

Actual Actual

Actual

Q4/ 2011

Actual

Q1/ Q2/ 2011 2011

2012

Actual

Actual Actual

14 Fall 2012 – SEPaC Oil & GaS invEStOr ShOwCaSE

1,028

3,250

PROBABLE (mboe)

TOTAL PROVEN & PROBABLE (mboe)

2,271

5,521

NPV 10% BEFORE TAX TPP ($M)

$76,095

total Proved Plus Probable rli: 11.4 years Production replacement ratio: 1,149%

$700.00 $600.00 $500.00 $400.00 $300.00 $200.00 $100.00 $–

Est. Sep 2012 2P BT NPV 10%

Current Land, Seismic & Tax Pools

Net of Current Debt

215 Upside Drilling Locations (risked)

$ 13.0 $ 12.0 $ 11.0 $ 10.0 $ 9.0 $ 8.0 $ 7.0 $ 6.0 $ 5.0 $ 4.0 $ 3.0 $ 2.0 $ 1.0 $ 0.0

Net Asset Value/Share (Basic)

PRODUCTION GROWTH

FD Shares Out: 71.9mm

TOTAL PROVED (mboe)

total Proved rli: 6.7 years

Net Asset Value ($MM)

• • •

Net Debt (Q2 2012): $32.8mm

Gas (6:1) NGLs

PROVED UNDEVELOPED (mboe)

2,223

Market Cap.: $34.1mm

(As Evaluated By McDaniels & Associates Dec. 31, 2011)

RESERVE VALUE BY PRODUCT

MARKET DATA

Gas 26% NGLs 26%

Oil 48%

Corporate proFiLe

TSX-V:VCA Invicta Energy Corp. (TSX:VCA) is a Calgary based, emerging junior oil and gas company exploring and developing light oil opportunities in Saskatchewan and Alberta.The Company’s focus to date has been the development of its Viking resource play in Lucky Hills, Saskatchewan.

Invicta is the operator of this play with an average 53% working interest. In addition, Invicta has accumulated undeveloped land in central Alberta a number of prospective plays for light oil.The Company plans to initiate drilling in Alberta in early 2013.

PROFILE

MANAGEMENT Gord Reese, President & CEO

Listing: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . VCA.TSXV Shares Outstanding (basic/diluted):. . . . . . . . . . . . . . . . . . . . . . . . . 75.6 MM /90.2MM Insider Ownership (basic/diluted): . . . . . . . . . . . . . . . . . . . . . . . . . 16% /21% diluted Institutional Ownership: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30% – 40% Market Capitalization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ~$17 MM Undeveloped Land: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 56,947 acres (51,963 net)

PRODUCTION PROFILE & FORECAST 1000

John Gee, P.Eng., VP Engineering and COO Carrie McLauchlin, CA, Vice President Finance and CFO Gord Timm, P. Land, PSL, VP Land

900 800 700

Average 600 Production 500 (bbl/d) 400 300

Sony Gill, LLB, Corporate Secretary

200 100 0

BOARD OF DIRECTORS Dennis Nerland, LLB

Q4/10

Q1/11

Q2/11

Q3/11

Q4/11

Q3/10 (1)

Q1/12

Q2/12

Q3/12

Q4/12

(1)

Q1/13

(1)

Q2/13

(1)

Q3/13

(1)

Q4/13

Forecast

The 2013 forecasted production assumes drilling 30 gross (16 net) wells at Lucky Hills

Doug Bartole, P.Eng.

LUCKY HILLS, SASKATCHEWAN

Larry M. Jones Rod Maxwell, CA, CBV Gord Reese, President & CEO

HEAD OFFICE #1550, 555 – 4th Ave. SW, Calgary,AB T2P 3E7 Phone: (403) 265-8890 Fax: (403) 265-8891

KEY CONTACTS Gordon Reese, President & CEO gord@invictaenergy.ca or Carrie McLauchlin, VP Finance & CFO carriem@invictaenergy.ca

WEBSITE www.invictaenergy.ca

Kindersley

• Operatorship: 53% Avg WI • 34 gross (20 net) wells by 2012, exit; 535 bbl/d of oil forecasted for exit 2012 • Undeveloped land of 7,360 acres (4,210 net) • 600 meter horizontal wells using pad drilling & monobore completion; D&C costs average $950K • Light, sweet (32-38 degree API) oil • Focused facility infrastructure resulting in operational efficiencies • In excess of 200 gross locations

CENTRAL ALBERTA • 49,587 gross (47,753 net) undeveloped acres • 500 km of trade and proprietary seismic • Four near term (within 12 months) drillable prospect plays for light oil; two Mannville channel plays and two Viking light oil plays MANNVILLE CHANNEL PLAYS

• 23 1/2 sections of 100% undeveloped land • 8 – 10 drilling targets; drilling to commence in early 2013 • Hz D&C costs of $1.5MM; forecasted reserves 100 – 150 MSTB/well; 61 to 90% IRR Fall 2012 – SEPaC Oil & GaS invEStOr ShOwCaSE 15

Corporate proFiLe

TSX-V:OIL LgX oil + gas inc. is a Calgary, alberta–based junior oil and natural gas company engaged in the exploration and development of resource-type oil and natural gas opportunities primarily focused in southern alberta. LgX is dedicated to delivering growth in reserves and production for its investors through land acquisition followed by exploration and development of the oil and gas resources. LgX’s management is a highly motivated and experienced group of petroleum industry professionals. With its extensive land holdings in the multi-zone southern alberta Bakken fairway, LgX has the opportunities, the financial strength and the management team to build value for shareholders.

MANAGEMENT

Alberta Basin Bakken Play

Trent J. Yanko, P.Eng. President + CEO

• LGX owns 110,000 net acres on play fairway • Deep Basin tight oil resource play • Bakken oil system—Banff/ Exshaw/Big Valley formations • Additional prospective light oil targets include the Second White Specks, Barons, Mannville and Nisku formations • Key 1979 Big Valley producer (10-30) adjacent to Joint Venture lands • Two operated Big Valley horizontal wells drilled to date; both were successful oil wells • More than 120 wells licensed and/or drilled since late 2009 on 140 mile long play fairway • Competitors in Canada include TORC, Crescent Point, Shell, Murphy, Nexen, Dee Three and Argosy

Matt Janisch, P.Eng. Vice President, Finance + CFO Dale Mennis Vice President, Land Curt Labelle, P.Eng. Vice President, Production Curt Ziemer, CGA Vice President, Accounting Mark Oliver, P.Geol Vice President, Exploration William Wee, P.Eng. Vice President, Operations Mark Franko, LLB Corporate Secretary

BOARD OF DIRECTORS James Pasieka Chairman

Trent J. Yanko Chris Bloomer Jim Welykochy Neil Roszell

Corporate Highlights

HEAD OFFICE Suite 4400, 525-8th Avenue SW Calgary, Alberta T2P 1G1 Phone: (403) 441-2300 F: (403) 441-2017 E: info@lgxoil.com www.lgxoil.com

• Third Alberta Bakken well spud September 28, 2012 • 95 sq. mi. 3D seismic program planned for late fall 2012.

• Strategic transaction with Legacy Oil + Gas Inc. created a high impact, light oil exploration focused company that will also pursue a consolidation strategy in Southern Alberta.

• LGX's first two Alberta Bakken horizontal wells have been drilled and are now on production.

• Early technical data on LGX wells are positive first steps toward establishing a commercial development on our lands.

Corporate Summary (as at August 31, 2012)

TSX Trading Symbol Common Shares Warrants Options Insiders Own Basic Fully Diluted 2012 Q2 Production Proved Plus Probable Reserves(1) Undeveloped Land (net acres) Market Capitalization Tax Pools Bank Line (1) as at December 31, 2011

16 Fall 2012 – SEPaC Oil & GaS invEStOr ShOwCaSE

OIL 30.3 million 6 million 2.4 million 39% 38% 485 Boe/d 1.75 MMBoe 155,974 $29.6 million $59 million $7 million with zero debt

Corporate proFiLe

TSX:LRE

HERE FOR THE LONG RUN WWW.LONGRUNEXPLORATION.COM

OCTOBER 2012

THE VISION

THE PLAYS

MANAGEMENT TEAM

• Create a strong mid-cap oil and gas company • Focus on potential resource plays in the Western Canadian Sedimentary Basin

ALTA.

• Build a balanced portfolio with exploration plays focused on both oil and natural gas

Montney Duvernay

Alberta Viking

• Use enhanced recovery techniques to maximize property value

Production PRODUCTION Production

Sask. Viking

Gas Gas Oil + NGL 50% Gas 50% Oil 50% Gas 50% Oil

Production (MBOE/d)

20 20 15 15 10 10

William Tang Kong VP, Corporate Development Jason Fleury VP, Capital Markets

• 9,700 boe/d • Initial two-year plan includes 90 to 100 horizontal wells targeting Montney oil

Jim Iverson VP, Exploration Dale Orton VP, Operations and Engineering Devin Sundstrom VP, Production

• 16.2 mmboe (P+P) 2007 2007

2008 2008

2009 2009

2010 2010

2011 2011

2012 Estimate 2012 Estimate

RESERVES Reserves

• 6,200 boe/d • 40,000 net acres of undeveloped land

Duvernay

Reserves Reserves (MMBOE)(1)

Total Proved

Proved+Probable

100 100 80 80 60 60

• 7.6 mmboe (P+P)

20 20

• 1,500 boe/d 2007 2008 2008 (1)2007 Gross Reserves

2009 2009

2010 2010

2011 2011

2012 Estimate 2012 Estimate

400-250 2 STREET SW, CALGARY, AB, T2P 0C1 Cash Flow

BOARD OF DIRECTORS William Andrew Dale Miller

• More than 100,000 net exploration acreage with Nordegg and Duvernay shale resource potential

Saskatchewan Viking

40 40

0 0

• 31.7 mmboe (P+P)

Alberta Viking

5 5

Dale Miller President

Shivon Crabtree VP, Finance and CFO

Montney

25 25

0 0

SASK.

William Andrew Executive Chair and CEO

• More than 100,000 net undeveloped acres

John Brussa Michael McGovern Paul Dimitriadis Ed Chwyl Michael Graham Brad Munro Patricia Newson Jeffrey Errico TSX: LRE

Cash Flow

250 250 200

Fall 2012 – SEPaC Oil & GaS invEStOr ShOwCaSE 17

British Columbia

Corporate proFiLe

TSX-V:MEI

Corporate Profile A Once-in-a-Generation Opportunity in the Canadian Foothills

TSX.V : MEI

www.manitokenergy.com

Manitok Energy Inc. is a public oil and gas exploration and development company focusing on conventional light oil and liquids rich gas reservoirs in the Canadian Foothills Belt.

Manitok Stolberg #1

The Company holds a 68% working interest in over 431 gross sections of land (276,073 acres) in the Foothills, with three producing oil pools at Stolberg, Cordel and Brown Creek and high wellhead condensate content in natural gas at Lovett/Basing.

A Balanced Portfolio of Assets

2012 Average Production Forecast 4000

Oil & Liquids Natural Gas

3500 3000

Alberta

2500 2000

Lovett Brown Creek Stolberg/Cordel

1500 1000

500

Fallen Timber Coleman

0 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012

Summary of Net Present Values for Future Net Revenues December 31, 2011 Forecast Prices and Costs

Manitok is currently targeting conventional sweet light oil and liquids rich natural gas reservoirs with depths ranging from 800m to 3,200m.

Manitok Offers A Significant Growth Opportunity

World class Foothills technical team with extensive experience gained through working in the Foothills at Talisman Energy for more than a decade.

129 years of combined experience in the Foothills.

Over 200 wells drilled and $3 billion of capital spent in the Foothills.

Provides a competitive advantage over other operators in the Foothills.

Large unexploited land base currently providing (90+) conventional drilling locations with IPs of 265 to 1,166 boe/d.

3+ year drilling inventory of oil locations.

Developing additional conventional and unconventional light oil plays on lands.

Unique opportunity created by a shift in focus away from the Foothills by many majors in unison.

(Before Income Taxes Discounted at 10% a Year)

Gross MBOE

Reduced risk on shallower opportunities due to experience, abundant seismic and borehole data from the deeper drilling done in the past.

Proved Developed Producing Developed Non Producing Undeveloped

45,467 3,615 2,946

3,313.5 571.3 654.9

Total Proved Probable

52,027 31,238

4,539.7 4,280.5

Abundant opportunities with results similar to international exploration except with only development drilling risk and much less political risk.

Of the 9 conventional foothills wells drilled to date, 5 wells have had initial test rates of greater than 500 boe/d and 2 have been over 1,300 boe/d.

Total Proved Plus Probable

83,265

8,820.3

Reserve Category

$000

Notes: (1) Columns may not add due to rounding of individual items.

(2) Estimates of future net revenues whether discounted or not do not represent fair market value.

(3) Forecast of commodity prices used by Sproule in its evaluation can be found at www.sproule.com.

2012 drilling program to generate significant growth.

12 gross (8.9 net) Cardium light oil drills.

2012 capex program of +$50.0 million is fully funded.

Management Team

Board of Directors

Massimo Geremia, President & CEO

Bruno Geremia, C.A. - Chairman

Greg Peterson

21 years of experience in Oil & Gas, Real Estate and Finance

VP Finance & CFO, Birchcliff Energy

Partner, Gowlings Canada

Tim de Freitas, Ph.D., VP Exploration & COO

Robert J. Dales

Tom Spoletini

Director of Celtic Exploration Director of Arcan Resources

Independent Businessman

Massimo Geremia

Independent Businessman Former President of Provident Energy Trust’s Canadian business unit.

24 years of experience in industry, most of it focused on structural (thrustbelt) geology and drilling

Robert Dion, CA, VP Finance & CFO 20 years of industry experience in senior financial positions

Dorothy Else, B.Sc., VP Land 28 years of experience as a Landman

President & CEO, Manitok Energy

Wilfred A. Gobert Retired, former Vice Chairman of Peters & Co. Director of Canadian Natural Resources and Trilogy Energy Corp.

18 Fall 2012 – SEPaC Oil & GaS invEStOr ShOwCaSE

Contact Information:

Cameron Vouri, P.Eng.

Manitok Energy Inc. 5th Avenue S.W. Suite 2500, 639 Calgary, Alberta T2P 0M9 P: 403.984.1750 F: 403.984.1749 www.manitokenergy.com Investor Relations: Mathew August, Managing Director Colonial Advisory Services Inc. mathew.august@colonialadvisory.com

Corporate proFiLe

TSX-V:PXL

Oil & Gas Corporation TSX Venture Exchange: PXL

MANAGEMENT Kevin Gibson CEO Allan Carswell

REJUVENATING OLD OIL FIELDS

Heavy Oil Focus • 13 consecutive quarters of production growth, 98% crude oil production weighting

President & COO

• Targeting new pools and increasing recovery factors in old fields

Ivan J. Condic

• Focused on low operating cost, high netback, heavy oil production

Vice President, Finance & CFO Robert (Bob) Padget

• Growing inventory of drilling locations

Vice President, Engineering Glenn Taylor

2,000

Vice President, Production & Operations

Allan Carswell Ken Crowther Daryl Fridhandler, Q.C., Chairman Kevin Gibson

Gas

1,500 Production (boe/d)

DIRECTORS

Oil ALBERTA

1,000 EDMONTON

SASKATCHEWAN

Lloydminster Heavy Oil Area

Current focus

SASKATOON

500 CALGARY

Stephen Hayden Jeffrey C. Saponja

0

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2009 2010 2011 2012

HEAD OFFICE 600, 840 – 6 Avenue SW, Calgary, Alberta T2P 3E5 [p]: 403-209-5710 [f]: 403-228-7992 [e]: info@palliserogc.com www.palliserogc.com

CAPITAL STRUCTURE

ASSET BASE

• Shares outstanding (basic/diluted) 57.5 MM/62.6 MM

• Current production estimate - 2,400 boe/d (98% heavy oil)

• Insider holdings (basic/diluted) - 7%/11%

• Undeveloped land - 62,000 net acres

• Credit facility - $43 MM

• Prospect inventory - 160 heavy oil locations

• Net debt (forecast Q3 2012) - $37 MM • Tax pools (forecast Q3 2012) - $83 MM

2012 CAPITAL PROGR AM Capital expenditures - $36 MM

Fall 2012 – SEPaC Oil & GaS invEStOr ShOwCaSE 19

Corporate proFiLe

TSX-V:PMI petromanas energy inc. is an international oil and gas company focused on the exploration and development of its assets in albania. petromanas, through its wholly owned subsidiary, holds three production sharing Contracts (psCs) with the albanian government. Under the terms of the psCs, petromanas has a 100% working interest in Blocks a, B, D and e and a 50% working interest in Blocks 2 and 3 that comprise more than 1.4 million gross acres across albania's Berati thrust belt.

Petromanas Energy PSCs, Prospects and Leads

Key Drill Ready Prospects Blocks 2-3: shpirag-2 (50% Wi) • Estimated depth to top of reservoir: 5,200 m – 5,500 m • Spud June 30, 2012 • Unrisked prospective resources (Pmean): 233 mmboe Blocks a-B: Juban-1 (100% Wi) • Estimated depth to top of reservoir: 1,500 m – 2,000 m • Expected spud date: Q4 2012 • Unrisked prospective resources (Pmean): 54 mmboe Blocks D-e: paper-1e (100% Wi) • Estimated depth to top of reservoir: 3,500 m – 4,000 m • Unrisked prospective resources (Pmean): 67 mmboe

Why Invest in Petromanas?

Proximate to key European export markets, Albania offers a stable political environment, attractive fiscal terms and an established petroleum system with multiple active oilfields, including Patos Marinza, the largest onshore oilfield in Western Europe. Petromanas is principally focused on the sub thrust carbonate Shpirag-2 well site play analogous to the Val D’Agri / Tempa Rossa fields in south-central Italy. The company is focused on drilling multiple highimpact commitment wells in Albania in 2012 with prospects ranging from 50 to 230 mmboe in Pmean unrisked prospective resources (GLJ—July 2011).

In February 2012, Petromanas entered into a joint venture agreement with a wholly owned subsidiary of Royal Dutch Shell plc, with Shell acquiring a 50% participating interest in onshore exploration Blocks 2-3 in exchange for payments and carried costs of up to $50.3 million. Blocks 2-3 are home to existing clastic and carbonate oil fields.

In June 2012, Petromanas spud the Shpirag-2 well located on Blocks 2-3. It is a re-drill of the Shpirag-1 well drilled by Occidental Petroleum in 2001 that flowed light oil to surface. The well is anticipated to take 150 to 180 days to reach a target depth of 6,100 metres at a cost of approximately $31 million, with Petromanas’ estimated net drilling cost expected to be $3 million.

Petromanas has also sourced a separate shallow rig to drill the Juban prospect located in Blocks A-B onshore Albania. The company has received all necessary permits and lease and access road construction is complete. The company intends to drill the well to a target depth of approximately 2,600 metres, with drilling expected to begin in the fourth quarter. Petromanas is currently fi nalizing its options and plans for completing its 2012 PSC commitments in Blocks D-E. Petromanas’ seasoned management team and board blend local and international experience and have a strong track record of value creation. At June 30, 2012, the company had $73 million in current working capital (including restricted cash) from which to fund operations. Petromanas has offices in Calgary, Alberta, and Tirana, Albania, and is listed on the TSX Venture Exchange under the symbol PMI.

MANAGEMENT Glenn McNamara Chief Executive Officer Hamid Mozayani Chief Operating Officer Bill Cummins Chief Financial Officer

Steve Farner Vice President, Exploration

20 Fall 2012 – SEPaC Oil & GaS invEStOr ShOwCaSE

BOARD OF DIRECTORS

HEAD OFFICE

Verne Johnson Chairman and Director Heinz Juergen Klaus Scholz Co-Chairman and Director Jeffrey Scott Director Gerard Protti Director

Suite 1720, Life Plaza 734-7th Ave. SW Calgary, AB T2P 3P8 T: +1 (403) 457-4400 F: +1 (403) 457-4480 E: info@petromanas.com www.petromanas.com

Dr. H. Werner Ladwein Director Gordon Keep Director Frank Giustra Director Glenn McNamara Director

Corporate proFiLe

TSX:PEY peyto exploration and Development Corp. is one of the fastest growing, most profitable natural gas weighted exploration and production companies in Canada. peyto is committed to building shareholder value through the development of high-quality natural gas properties and has proven to be a leader in the exploration and development of alberta’s Deep Basin natural gas resources plays. peyto exploration and Development Corp. is a dividend-paying corporation organized from peyto energy trust. the trust succeeded the original corporation which was founded in 1998.

Company Summary Long Reserve Life Asset - 9 yrs PDP, 22 yrs P+P at YE 2011 Lowest Cost Producer - $0.97/mcfe ($5.84/boe) cash costs Q2/12 Superior Shareholder Returns - Ave ROCE 21%, Ave ROE 40% Own and Control - Operate 99% of production, own infrastructure Liquids Rich Gas - 50,000 boe/d Alberta Deep Basin production Exciting Growth Profi le - 35% production/share growth in 2011 Monthly Dividend: AECO Monthly $/GJ

39% Average Profi t

$ 10

$8

$6

Bonus Royalties

$4

PDP FD&A G&A, Interest Op Cost (Incl. Trans.)

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

$2

$-

Peyto Realized Gas Price ($/mcfe) Peyto Unhedged Realized Price (&/mcfe)

Building it for less than we're selling it

MANAGEMENT Darren Gee President & CEO Scott Robinson Executive VP & COO Kathy Turgeon VP Finance & CFO Jean-Paul ‘JP’ Lachance VP Exploitation

$0.06/share

Shares O/S:

144 million (5% insider ownership)

2012 Capex Guidance:

$400-450 million

Q2 2012 Net Debt:

$150 million (senior secured notes, 7-10 yrs, 4.39-4.88%

(pro forma w/ONR)

$437 million (revolving bank debt) $587 million

Bank Lines:

$880 million total capacity ($730 revolving facility)

Enterprise Value:

$4 billion ($24/share)

BOARD OF DIRECTORS Tim Louie VP Land David Thomas VP Exploration

Don Gray Chairman Darren Gee President, CEO, Director Scott Robinson EVP, COO, Director Stephen J. Chetner Corporate Secretary, Director

Rick Braund Director Brian Davis Director Greg Fletcher Director Michael MacBean Director

HEAD OFFICE Peyto Exploration & Development Corp.

1500, 250 - 2nd Street SW Calgary, Alberta T2P 0C1 Dir: 403-261-6081 Fax: 403-451-4100 info@peyto.com www.peyto.com

Fall 2012 – SEPaC Oil & GaS invEStOr ShOwCaSE 21

Corporate proFiLe

TSX-V:PN E

pine Cliff energy is a public company engaged in the exploration, development and production of natural gas, crude oil and liquids. the company’s focus is on innovatively pursuing opportunities to acquire additional high-impact assets for future growth through asset or corporate acquisitions, farm-ins or joint ventures. pine Cliff’s strong balance sheet and management team has positioned the company to capitalize on its growth strategy and maximize value for shareholders.

KEY FACTS • TSX Venture Exchange: PNE • Shares Issued: ~ 145.3 million • Insider Ownership: 25% • Market Capitalization: ~ $109 million • Recent Trading Price (10/22/12): $0.75 • Undrawn Credit Facility: $15 million • Current Production: ~ 1,100 boe/day • Liquids Weighting: 25%

ACHIEVEMENTS • February 2012: Completed a rights offering and private placement for gross proceeds of ~$2.9 million • March 2012: Acquired Carrot Creek assets for $23.5 million which included liquids rich gas production, related infrastructure, a small amount of oil production and liquids rich gas and oil horizontal drilling opportunities • October 2012: Closed the acquisition of Geomark Exploration Ltd.; Strong balance sheet with no debt, approximately $22 million of cash and cash equivalents and $9 million of liquid securities

• Proved plus Probable Reserves: 3,814 MBOE • High Quality Asset Base: Significant upside potential with natural gas recovery

CORE OPERATIONS — CARROT CREEK • Multi-Zone Area: Targeting Viking, Gething/Ellerslie, Wilrich, Notikewin, Ostracod, Lower Mannville, Fernie Sand and Rock Creek • Working Interest: 31% (90% of Pine Cliff’s production is operated) • Land: 49 gross sections; 4,035 net hectares (9,970 acres) • Extensive Prospect Inventory: 5 oil locations; over 50 gross horizontal natural gas locations; numerous recompletion oppportunities • Capital Development: Anticipate drilling one gross (0.30 net) Rock Creek well prior to year-end with plans to drill up to 3 additional gross wells in early 2013

KEY PERSONNEL

BOARD OF DIRECTORS

HEAD OFFICE

Philip B. Hodge President & Chief Executive Officer Robb D. Thompson Chief Financial Officer & Secretary Kristi L. Barr Controller Chris S. Lee Senior Geologist

George F. Fink Executive Chairman of the Board

901, 1015-4th Street SW Calgary, AB T2R 1J4

Gary J. Drummond Philip B. Hodge Randy M. Jarock Carl R. Jonsson F. W. Woodward

Telephone: 403.269.2289 Fax: 403.265.7488 Website: www.pinecliffenergy.com Email: info@pinecliffenergy.com

22 Fall 2012 – SEPaC Oil & GaS invEStOr ShOwCaSE

Corporate proFiLe

TSX:SGY Surge is an oil-focused E&P company with operations throughout Western Canada and in the Williston Basin. Since inception on April 13, 2010, Surge has achieved significant growth in production, reserves and cash flow per share. The Company is positioned in three core areas, has assembled more than 570 gross (435 net) oil drilling locations, gained exposure to an internally estimated DPIIP1 of more than 550 (gross) million barrels of oil and tripled the size of our bank line.

EXECUTIVE DAN O’NEIL president, Chief executive officer & Director DAN BROWN Chief operating officer MAX LOF Chief Financial officer MALCOLM ADAMS Vice president Corporate Development MARGARET ELEKES Vice president Land TEE ONG Vice president engineering

The Company is currently focused on drilling at each of its three core operating areas. Surge has more than 329 net unbooked horizontal oil drilling locations to pursue, which has the potential to add more than $760 million2 of value (or almost $10 per fully diluted share) and more than 35 million barrels of light oil reserves. Total capital required to realize this value is approximately $650 million, which is three times our annualized exit cash flow for 20123.

Longer-term growth initiatives include oil focused exploration and tight oil waterfloods. The Company’s tight oil waterflood opportunities have the potential to increase the value of Surge by more than $275 million (or more than $3.50 per fully diluted share) and add more than 44 million barrels of light oil, based on successful implementation.

Based on the Company’s current net asset value, unbooked drilling inventory and unbooked waterflood upside, Surge has the potential to more than triple the company’s oil reserves and double the net asset value going forward from approximately $9 to more than $22 per fully diluted share.

Surge is committed to delivering top quartile corporate performance and creating value for shareholders by continuing to grow reserves, cash flow and production on a per share basis. Surge is forecasting a 2012 exit production rate of 11,000 boe/d.

DIRECTORS PAUL COLBORNE, CHAIRMAN president, starValley oil & gas Ltd. PETER BANNISTER president, Destiny energy inc.

ROB LEACH president, international Fitness KEITH MACDONALD president, Bamako investment management JAMES PASIEKA partner, heenan Blaikie LLp

Leading capital efficiencies among oil weighted peer group • 2011 2P F&D of $14.02 per boe (incl. change in FDC), recycle ratio of 2.7

potential to more than triple oil reserves • Exposure to more than 79 million barrels of light oil upside from primary and secondary development in addition to its current oil reserves of 23 million barrels

proven growth focused management team • 3 high performing asset teams, each capable of managing 10,000 boe/d

MURRAY SMITH member, energy advisory Board, tD securities COLIN DAVIES independent Director

CORPORATE PARTNERS Bankers • • • •

auditor

National Bank of • KPMG LLP Canada Legal Counsel Bank of Nova Scotia • Heenan Blaikie LLP Canadian Imperial Bank evaluation engineers of Commerce ATB Financial • Sproule Associates

HEAD OFFICE 2100, 635-8TH AVENUE SW, CALGARY ALBERTA T2P-3M3 t: 403.930.1010 F: 403.930.1011 WWW.sUrgeenergy.Ca investor Contacts

Dan O’Neil, President & CEO Max Lof, CFO • Samantha McAra, Investor Relations • •

1“Discovered

Resources” or “Discovered Petroleum Initially-In-Place” (“DPIIP”), are those quantities of petroleum estimated, as of a given date, to be contained in known accumulations prior to production. The recoverable portion of discovered petroleum initially-in-place includes production, reserves and contingent resources; the remainder is unrecoverable. “Contingent resources” are those quantities of petroleum estimated, as of a given date, to be potentially recoverable from known accumulations using established technology or technology under development, but which are not currently considered to be commercially recoverable due to one or more contingencies. Contingencies may include factors such as economic, legal, environmental, political and regulatory matters, or a lack of markets. It is also appropriate to classify as Contingent Resources the estimated discovered recoverable quantities associated with a project in the early evaluation stage. There is no certainty that it will be commercially viable to produce any portion of the Contingent Resources. A recovery project cannot be defined for this volume of DPIIP at this time, and as such it cannot be further sub-categorized.

2Assumes all wells are drilled immediately and based on April 30th, 2012, strip pricing (Year 1: CDN$95.66/bbl Edm. Par/US$103.79/bbl WTI; CDN$2.22/GJ AECO/$US CDN$/US$ exchange rate of $0.987).

3Based on a forecast 2012 annualized exit funds from operations of $155 million Based on US$104.50/bbl WTI, Edm Par C$94.68, $1.98/GJ AECO, US$/CDN$ exchange rate of $0.9989.

Fall 2012 – SEPaC Oil & GaS invEStOr ShOwCaSE 23

Corporate proFiLe

TSX-V:TUS MANAGEMENT Robert W. Lamond President & C.E.O. Donald K. Clark Vice President Operations & C.O.O. Brad R. Perry C.F.O.

FOCUSED ON HEAVY OIL IN THE LLOYDMINSTER REGION

Marshall Kis Vice President Development Geology

ONGOING EXPLORATION OF 9 PROSPECTS EXPANDED WATER HANDLING FACILITIES Q3 2012

BOARD OF DIRECTORS Robert W. Lamond David Bennington Donald K. Clark Roger W. Hume John G.F. McLeod Glen Phillips Jack Steinhauser Charles A. Teare

30+ DRILLING LOCATIONS AT MACKLIN & EVESHAM

CORPORATE STRUCTURE

No debt, Production 98% oil

(September 30, 2012 )

OS Shares 122 million Management’s holdings ~36% Est. working capital: $0.2 million Available bank line: $8.5 million Available capital: $8.7 million

CONTACT INFORMATION T: (403) 269-9889 F: (403) 269-9890 E: info@tuscanyenergy.com

PRODUCTION Production

Average Production, BOEPD

Quarterly Cash Flow, $ Millions

400

Photo: development drilling at Macklin, March 2012

CASH FLOW

300

200

100

1.5

1.0

0.5

-

-

Q1

Q2

Q3

2011

24 Fall 2012 – SEPaC Oil & GaS invEStOr ShOwCaSE

Cash Flow

2.0

Q4

Q1

Q2

2012

Q1

Q2

Q3

2011

Q4

Q1

Q2

2012

THE BEST DOWNHOLE VIDEO TECHNOLOGY * 720 dpi HD Color Resolution Cameras - highest in the industry * Smallest OD for Sideview Camera - 43mm (1-11/16”) * More Robust Camera Design for Horizontal Deployment * Independent Hi-Temp LED’s for Downview & Sideview * Most Experienced Camera Operators in the Industry

Milled Collapsed Casing Sand Buildup in Horizontal

Visit us at: www.evcam.com DOWNHOLE VIDEO

Email: canadasales@evcam.com Calgary Sales: 403-263-6144 Blaine Fusick or Curtis Jerrom

Gas Hydrates

2230, 801-6th Ave SW Calgary, AB T2P 3W2 Tel: 403.803.2577 Fax: 403.640.2882 www.albertapride.ca

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John Waiand Junior Oil & Gas Leader (403) 691-8482 jwaiand@kpmg.ca

kpmg.ca

Source: Oilweek’s Top 100 Oil and Gas Producers Report – July 2012 ‘Junior’ defined as less than 10,000 boe/d. © 2012 KPMG LLP, a Canadian limited liability partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.