SEPAC - Oil & Gas Investor Showcase

OIL & GAS

INVESTOR SHOWCASE Investing opportunities with a select group of Canada’s most dynamic junior and mid-cap oil & gas producers Monday, November 21, 2011 | 9:00 am – 4:00 pm | The Westin Calgary, 320 – 4 Avenue SW

FREE ADMISSION | OPEN TO THE PUBLIC | NO REGISTRATION

Why invest the time to get to know our clients?

Because we care to fully understand what you’re up against and where you want to go. We gain insight and real understanding so we can help you achieve your ambitions.

it all starts with building a great relationship.

Strong relationships with over 1,000 energy and natural resources clients across Canada have proven our commitment.

BDO. MORE THAN YOU THINK.

Assurance | Accounting | Tax | Advisory www.bdo.ca

BDO Canada LLP, a Canadian limited liability partnership, is a member of BDO International Limited, a UK company limited by guarantee, and forms part of the international BDO network of independent member firms. BDO is the brand name for the BDO network and for each of the BDO Member Firms.

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 Monday, November 21, 2011. 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 exclusive 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 noted investment advisor and President and CIO of Schachter Asset Management Inc., Josef Schachter.

Mr. Schachter will provide us with an update on the macroeconomic environment and its potential impact on oil and gas prices for 2012.

This year we offer a special welcome to the members of the CFA Society of Calgary who will host a luncheon at the Westin in conjunction with the Investor Showcase.

The keynote speaker for the CFA event will be Don Rawson, Managing Director, Institutional Research, for AltaCorp Capital.

Commodity price differentials and advances in technology are creating new strategies for success and growth. Your investment decisions are enhanced by having the latest information, and there is no better place to get this than SEPAC’s Oil & Gas Investor Showcase.

I look forward to seeing you at The Westin Calgary on Monday, 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

CORPORATE SEPAC Investor PROFILE Showcase and Session Sponsors

Table of Contents Welcome Letter . . . . . . . . . . 3 Introduction, Session Sponsors and Schedule . . . . 4 & 5 Anderson Energy Ltd. . . . . . . 8 Bellamont Exploration Ltd. . . . . 9 Bonterra Energy Corp. . . . . . . 10 Bowood Energy Inc. . . . . . . . 11 Canada Energy Partners Inc. . . 12 Exall Energy Corporation . . . . 13 Guide Exploration Ltd. . . . . . . 14 Hyperion Exploration Corp. . . . 15 Palliser Oil & Gas Corporation . . 16 Portal Resources Ltd. . . . . . . . 17 Primary Petroleum Corporation . 18 Sure Energy Inc. . . . . . . . . . 19 Terrex Energy Inc. . . . . . . . . 20 Trafina Energy Ltd. . . . . . . . . 21 TriOil Resources Ltd. . . . . . . . 22 Tuscany Energy Ltd. . . . . . . . 23 WesternZagros Resources Ltd. . 24

Introduction 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, along with industry analysts, oil and gas executives, and media.

Keynote Speaker SEPAC is pleased to have Mr. Josef Schachter, President and CIO of Schachter Asset Management Inc., deliver the keynote presentation. Josef is a frequent guest on BNN TV and CBC Business World.

He is a frequent speaker at corporate and investor conferences such as the World Outlook Financial Conference. He is regularly quoted in news and financial reporting publications and was awarded the Business Edge’s “Stock Picker of the Year” in 2003, 2004 and 2007.

Mr. Schachter’s keynote speech will kick off the Investor Showcase program at 9:05 am.

Join us for his update on the macroeconomic environment and its potential impact on oil and gas prices for 2012.

Corporate Presentations Each company at the Showcase will give a 20-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. For the most up-to-date presentation schedule, visit our website (www.sepac.ca).

Presenting Company Booths All companies presenting in the Investor Showcase will have booths set up in the JuneWarren-Nickle’s Energy Group

Executive Director – Gary Leach Event & Communication Director – Michelle Chidley 1060, 717 – 7 Avenue SW Calgary, Alberta T2P 0Z3 Phone: (403) 269-3454 Fax: (403) 269-3636

Fall 2011 Investor Showcase was produced by SEPAC and JuneWarren-Nickle’s Energy Group

JUNEWARREN-NICKLE’S ENERGY GROUP President & CEO – Bill Whitelaw Interim Publisher – Chaz Osburn Senior Graphic Designer – Cathlene Ozubko Creative Services – Janelle Johnson Editorial Assistance – Kate Austin, Laura Blackwood, Tracey Comeau Ad Traffic Coordinator – Denise MacKay Senior Account Executive – Diana Signorile Offices Calgary 2nd Floor, 816-55 Avenue NE Calgary, AB, T2E 6Y4 Tel: (403) 209-3500 Fax: (403) 245-8666 Edmonton 6111 - 91 Street NW Edmonton, AB T6E 6V6 Tel: (780) 944-9333 Fax: (780) 944-9500 Toll-free: 1-800-563-2946

4 SEPAC INVESTOR SHOWCASE – FALL 2011

• Reserves Evaluation • Reservoir Engineering & Simulation • Geological Studies • Unconventional Gas Studies • Well Test & Production Data Analysis • Production Optimization • Pipeline Optimization • Regulatory Applications • Integrated Reservoir Studies • Petroleum Engineering Software

Follow the Leader.

Discover how IHS is investing in Canada by visiting our booth at the Fall 2011 SEPAC Investor Showcase.

Learn more at followIHS.com

SEPAC Investor Showcase CORPORATE and Session Sponsors PROFILE

SCHEDULE Room. We welcome you to visit this room throughout the day and meet representatives from the presenting companies, and pick up quarterly and annual reports and other timely investorrelated information.

Sponsor Booths Outside the presentation rooms you will find display booths staffed by the sponsors of the SEPAC Investor Showcase. Take some time and visit with these companies who are great supporters of the junior and mid-cap oil and gas industry in Canada.

After the Investor Showcase Did you miss a presentation that you really wanted to see? The audio and slides from all presentations given throughout the Investor Showcase will be posted to the SEPAC website (www.sepac.ca) by November 25.

Time

ATB Financial Services Room

CNW Group Room

9:05 – 9:15

Welcome & Introduction of Keynote Speaker

9:15 – 9:45

Keynote Address: Josef Schachter, President & CIO, Schachter Asset Management Inc.

9:50 – 10:10

Palliser Oil & Gas Corporation

Exall Energy Corporation

10:15 – 10:35

TriOil Resources Ltd.

WesternZagros Resources Ltd.

10:40 – 11:00

Canada Energy Partners Inc.

Hyperion Exploration Corp.

11:05 – 11:25

Tuscany Energy Ltd.

Trafina Energy Ltd.

11:30 – 11:50

Primary Petroleum Corporation

Bowood Energy Inc.

11:50 – 1:05

Lunch Break

1:10 – 1:30

Anderson Energy Ltd.

Bonterra Energy Corp.

1:35 – 1:55

Guide Exploration Ltd.

Terrex Energy Inc.

2:00 – 2:20

Bellamont Exploration Ltd.

Sure Energy Inc.

2:25 – 2:45

Portal Resources Ltd.

Invicta Energy Corp.

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FALL 2011 – SEPAC INVESTOR SHOWCASE 5

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CORPORATE PROFILE

TSX:AXL REPOSITIONED FOR OIL PRODUCTION GROWTH

Anderson Energy Ltd. is a Calgary-based oil-focused development company trading under the symbol AXL. Anderson Energy operates primarily in the Central Alberta region and over the past 18 months has repositioned itself as a focused Cardium light oil player. The majority of its fully funded 2011/2012 capital program will be directed towards developing the Company’s core producing assets at Pembina, Willesden Green and Garrington. With an established management team, strong assets and innovative technical expertise, Anderson Energy continues to execute on its strategy of increasing per barrel cash flow growth from its proven resource base.

ALBERTA

Focused Development on Cardium Light Oil Production • Oil provides stronger cash flows than natural gas and reduces debt leverage over time Edmonton

WILLESDEN GREEN FERRIER GARRINGTON

• Balanced oil and natural gas production profile anticipated by sometime in 2012 • Focused central Alberta development land position • Q2 2011 production averaged 7,758 boe/d Fully Funded 2012 Capital Program • 4.5 to 6 year time horizon for a significant portion of long-term debt reduces refinancing risk

Calgary

• Sufficient room on existing bank lines to provide operational flexibility Innovative Experienced Team in Place • Strong technical team provides innovative solutions to developing Cardium resources

Management

Board of Directors

Brian H. Dau

M. Darlene Wong

Philip A. Harvey

President & Chief Executive Officer

Vice President Finance, Chief Financial Officer & Secretary

Vice President, Exploitation

David M. Spyker

Blaine M. Chicoine

Vice President, Exploration

Chief Operating Officer

Vice President, Drilling & Completions

Sandra M. Drinnan

Jamie A. Marshall Patrick M. O’Rourke Vice President, Production

Vice President, Land

TSX: AXL This corporate profile contains forward-looking statements.

See cautionary remarks about risks and assumptions in our full investor presentation available on our website.

8 SEPAC INVESTOR SHOWCASE – FALL 2011

J.C. Anderson Brian H. Dau Christopher L. Fong Glenn D. Hockley David J. Sandmeyer David G. Scobie

Head Office

Contact Information

700 - 555 4th Avenue S.W. Calgary, Alberta, Canada T2P 3E7 T: 403.262.6307 F: 403.261.2792 E: info@andersonenergy.ca www.andersonenergy.ca

Brian H. Dau President & Chief Executive Officer T: 403.262.6307 E: info@andersonenergy.ca

CORPORATE PROFILE

TSX-V:BMX.A,BMX.B

Large OOIP/OGIP Resource Play Strategy Bellamont Exploration Ltd. (TSXV: BMX.A; BMX.B) is a publicly traded junior energy company with properties centered in the Peace River Arch area of Alberta and northeast British Columbia. Our strategy is to combine organic growth with strategic acquisitions, based on the principle of identifying large oil/gas in place reservoirs which can be developed via horizontal drilling and multi-stage fracture stimulation.

Bellamont’s primary growth properties are its Montney oil pools in the Grimshaw and Grande Prairie areas in Alberta. In addition, Bellamont has recently expanded into British Columbia, building a land position of 54 sections (43 net) targeting oil in the Baldonnel Formation and liquids-rich natural gas in the Montney Formation. Bellamont maintains high working interests and operatorship of its key properties.

Capital Efficiencies Over its five-year history, the Company’s technically focused management team has built a high-quality reserve, production and cash flow base with excellent capital efficiencies. The Company has a three-year track record with FD&A costs less than $15/boe, while enjoying a current operating netback of approximately $30/boe.

The Strategy at Work – Grimshaw Area Montney Oil Pool Discovery At Grimshaw, Bellamont discovered a 30° API oil pool in 2007 via a vertical well targeting a 14-metre Montney sand interval at the relatively shallow depth of 900 metres. Bellamont has now assembled 16 contiguous sections of land in a thick Montney sand fairway and successfully drilled 10 horizontal wells, completed with multi-staged fracture stimulations.

The average horizontal well has had an initial (i.e. 30-day) production rate of over 100 Bbl/d.

Based on three dimensional seismic and existing well control, Bellamont has identified 15 (14.25 net) additional firm horizontal drilling locations and up to another 46 (36 net) contingent locations. Furthermore, the Montney Formation in this area has the potential for waterflood development, which could significantly increase the pool’s ultimate recovery factor. The Grimshaw area is just one example of the Bellamont strategy at work.

BOARD OF DIRECTORS Scott Saxberg (Chairman) Keith MacDonald Rob Peters Greg Bay Steve Moran Stuart Clark Ian Fergusson

MANAGEMENT Steve Moran President and CEO Peter O’Leary Vice President, Exploration Craig Thomas Vice President, Land Trevor Murphy Vice President, Business Development Brian Ritchie Vice President, Exploitation Tavis Carlson Vice President, Finance and CFO

Grimshaw

Head Office

BMX Land Option Lands

Suite 1208, 250 2nd Street SW Calgary, Alberta T2P 0C1 T: (403) 802-6840 F: (403) 802-1315 E: info@bellamont.com W: www.bellamont.com

HZ Producer Montney Sand Fairway Vertical Test Wells

Contact Information Steve Moran President and CEO T: (403) 802-1355 E: stevem@bellamont.com

FALL 2011 – SEPAC INVESTOR SHOWCASE 9

CORPORATE PROFILE

TSX:BNE

INCOME GROWTH SUSTAINABILITY Bonterra provides income in the form of a monthly dividend and has consistently generated above average returns for shareholders. The Company's large inventory of undrilled locations should allow it to continue to provide increased value for investors.

Key Facts

(All amounts are in Canadian $) ◗ ◗ ◗ ◗ ◗ ◗ ◗ ◗ ◗ ◗ ◗ ◗ ◗ ◗

Shares Issued: ~ 19.4 Million Market Capitalization: ~ $951 Million Recent Trading Price: $52.00 Current Monthly Dividend: $0.26/Share Current Annualized Yield: 6.0% Payout Ratio: 52% of funds flow for first 6 months of 2011 Tax Pools: ~ $411 Million (tax horizon past 2016) Production Profile: 72% Oil / 28% Natural Gas 2011 Production Estimate: 6,200–6,500 BOE/d 2011 Capital Expediture Budget: $50 to $60 Million Reserve Life Index (P+P): 17.8 Years Drilling Inventory: > 15 Years Debt (06/30/2011): $103 Million (including working capital) Unhedged

AT A GLANCE Bonterra Energy Corp. is a high-yield, dividend paying oil and gas company headquartered in Calgary, Alberta, Canada with a proven history of creating growth and long-term value for shareholders on a per share basis. Bonterra’s successful performance is due to its experienced management team, conservative capital structure and sustainable pace of development. The Company’s operations are currently focused on creating value through the execution of its Cardium horizontal drill program and efficient operating practices.

SUPERIOR GROWTH Production per Share

Reserves

(BOE per share)

(BOE per share. Based on P+P reserves.)

0.088 0.091 0.093

0.101

1.83

0.109

2006 2007 2008 2009 2010

1.57

1.62

2006

2007

2008

1.99

2.09

2009 2010

Bonterra is the third largest operator in the Pembina Cardium, the largest reservoir in Canada with initial oil in place of 7.8 billion barrels and an average recovery factor of only 17 percent. Bonterra’s assets consist of stable, producing properties and are characterized by a long reserve life and low-risk, predictable returns.

Drilling in 2011 is mainly in the halo area of the Pembina and Willesden Green Cardium fields with the remainder in the main pool of the Pembina Cardium field. The success of the Company’s Cardium horizontal drill program will continue to drive future growth and maximize long-term value for shareholders.

corporate information Head Office Bonterra Energy Corp.

Suite 901, 1015 – 4th Street SW Calgary, Alberta T2R 1J4

Phone: 403.262.5307 Fax: 403.265.7488 Website: www.bonterraenergy.com Email: info@bonterraenergy.com

10 SEPAC INVESTOR SHOWCASE – FALL 2011

Officers and Senior Management George F. Fink, Chief Executive Officer and Chairman of the Board Randy M. Jarock, President and Chief Operating Officer Robb D. Thompson, Chief Financial Officer and Secretary

CORPORATE PROFILE

TSX-V:BWD

LOGO HERE In the heart of the Southern Alberta Bakken Fairway Bowood Energy Inc. is a Calgary based publicly traded junior oil and gas company engaged in the exploration and development of resource-type oil and natural gas opportunities primarily focused in southern Alberta. Bowood is dedicated to delivering growth in reserves and production for its investor through land acquisition followed by exploration and development of the oil and gas resources. The Company will strategically manage risk in its exploration through joint venture arrangements. The Company’s management is a highly motivated and experienced group of petroleum industry professionals. With its current extensive land holding in the multi zone southern Alberta Bakken fairway, Bowood has the opportunities, the financial strength and the management team to continue to build value.

The Southern Alberta Bakken

• Surrounded by Majors: Bowood is one of the only public junior oil and gas companies in the centre of the play surrounded by majors including Royal Dutch Shell, Murphy Oil, Crescent Point and Nexen.

• Significant land position: Bowood has a strategic land interest of approximately 110,000 net acres in the Alberta Bakken, over-pressured fairway with medium to light gravity oil.

• Land prices: Crown land prices have increased from an initial average of $90/acre to as high as $3,300/acre.

• Joint venture and farm out with Legacy Oil + Gas (Dec 2010): Legacy can drill to earn up to 50% of Bowood’s interest on a well by well basis with 16 horizontal wells required to earn half of Bowood’s current acreage.

• Oil in Place: Based on early indications from 3 vertical tests, Rosetta Resources has estimated that Original Oil in Place is between 12.5 and 15.3 million BOE per square mile (March 2010).

• Active Drilling: 85 wells licenced or drilled in the fairway, 36 United States, 49 Canada.

• Production Starting: Of the 49 (22 hz wells) in Canada, 32 are rig released, 17 wells are producing.

• Multi Zone Potential: The Second White Specks is a shallower oil resource play also highly prospective on the majority of Bowood’s lands.

• Other land/production: Bowood has an additional 48,000 acres (net) in southern Alberta currently producing 585 boe/d (Sep 2011).

CORPORATE Overview Production (Q3 estimate) . . . . . . . . . . . . . . . . . . . . . . . . . . . 585 boe/d (15% oil) Net Debt at Sept. 30, 2011 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $2.2 MM Cash Flow from Operations (2011 estimate) . . . . . . . . . . . . . . . . . . . . $1.7 MM Bank Line . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $8.5 MM Tax Pools (30th June 2011 estimate) . . . . . . . . . . . . . . . . . . . . . . . . . . . $37.0 MM

Bowood At a Glance As of 30th September 2011 › TSXV . . . . . . . . . . . . . . . . . . . . . BWD › ISIN Code. . . . . . . . . . . . . . . . . . CA7697321080 › Market Cap ($0.25/share) . . . . . $68 MM › 52 Week High / Low. . . . . . . . . . $0.71 / $0.21 › Avg. Daily Volume (3 months) . . ~550 MM › Shares Outstanding: Basic. . . . . . . . . . . . . . . . . . . . . 274 MM Fully Diluted . . . . . . . . . . . . . . . 290 MM › Management & Insiders: Basic. . . . . . . . . . . . . . . . . . . . . 9 MM Fully Diluted . . . . . . . . . . . . . . . 21 MM

Press Releases Oct 18th, 2011 – Bowood Announces Positive Alberta Bakken Drilling Results and Expansion of Land Position Aug 26th, 2011 – Bowood Announces Commencement of a Second Alberta Bakken Well and Armada Success

Management & Technical Team Robert F. Mercier, P. Eng President and CEO, Director Michael J. Kryczka Vice President Business Development Christine Robertson, P. Eng Vice President Engineering and COO David S. Cassidy, P. Geol.

Vice President Exploration Franco Civitarese, CMA Vice President Finance and CFO Jeff Peterson, P. Geol.

Chief Geologist

Directors Chris Bloomer (Chairman) Craig E. Kelly

Jim Welykochy Michelle Gahagan Pat Oliver

For Further Information: Robert Mercier Jeff Peterson General

rmercier@bowoodenergy.ca jpeterson@bowoodenergy.ca info@bowoodenergy.ca +1 (403) 265-2525

FALL 2011 – SEPAC INVESTOR SHOWCASE 11

CORPORATE PROFILE

TSX-V:CE Canada Energy Partners is an emerging Canadian junior E&P company with a concentrated land position in the fairway of two unconventional gas resource plays. Both resource plays have been significantly de-risked by drilling on the Company’s acreage and by two Canadian majors on offsetting acreage. It is partnered 50/50 with two excellent operators on the two resource plays. The Company is extraordinarily levered to the resource upside relative to its capitalization. The Company has no debt and $2MM of working capital.

Head Office Canada Energy Partners Inc. 885 West Georgia Street, Suite 1500 Vancouver, BC, Canada V6C 3E8 Tel: (604) 909-1154 Fax: (604) 488-0319

Operations Office Canada Energy Partners Inc. 343 Third Street, Suite 412 Baton Rouge, LA 70801–1309 USA Tel: (225) 388-9900 Fax: (225) 388-9903 www.canadaenergypartners.com info@canadaenergypartners.com

MANAGEMENT John Proust, Chairman & Chief Financial Officer Benjamin M. Jones, President & Chief Executive Officer Eileen Au, Corporate Secretary Roger Hebert, Senior Geologist

BOARD OF DIRECTORS John Proust Benjamin M. Jones Pat Bolin Kyle Burnett John Howard

• CE is a highly focused unconventional gas explorer with a concentrated land base in northeastern B.C. • 107 gross sections strategically positioned on two major gas resource plays.

• 2 strategic/technical joint ventures with industry leaders in CBM and shale gas.

• 42 bcfe (7 mmboe) 2P reserves.

• 1.86 tcf of prospective gas resources.

• $1.6 million of working capital.

12 SEPAC INVESTOR SHOWCASE – FALL 2011

Canada Energy Partners Inc. (TSXV: CE) is a publicly traded junior energy company focused on unconventional gas in the Peace River area of northeastern British Columbia. The Company was an early mover in assembling 107 gross sections of land in the fairway of two unconventional gas plays.

The Montney Shale in northeastern British Columbia has emerged as one of the top economic shale gas plays in North America, holding approximately 42% of Canada’s in-place tight gas resource. Approximately 3.2 billion of transactions have closed Montney Shale in the Montney trend of northeastern British Columbia in the last Exploration Well eleven months, all at much higher valuations relative to CE’s current market valuation.

The Company owns 42 net sections of Montney Shale rights in which the Company internally estimates approximately eight tcf of gas resource in place with potentially 1.6 tcf recoverable, net to the Company. The Company is a 50% partner with Crew Energy (TSX: CR) on its Montney lands covering 69 gross sections. The Company and Crew Energy have drilled four Montney wells on its joint acreage. On the Peace River Project, two horizontal wells have been drilled; one 1,000-metre lateral has been successfully tested for 4.4 mmcf/d and the second well with 1,826-metre lateral tested at 2.4 mmcf/d. The Company’s Peace River Project is adjacent to Talisman’s and Canbriam’s Farrell projects on which over 70 wells are scheduled to be drilled in 2011.

The Company owns five net sections in the Monias area, which are adjacent to Shell’s Groundbirch development. Three net sections are 100% owned by the Company, and the Company holds 35–40% interest in five gross sections. The Monias Project has been de-risked by a joint well drilled by the Company and West Energy in the northwestern corner of the block and five horizontal wells drilled by Shell to within 150–400 metres of the Company’s southeastern lease line. The first five Shell wells had final test rates of 6–8.1 mmcf/d.

The Company owns a 50% interest in the Peace River coalbed methane project covering 78 gross sections and operated by GeoMet Inc. (NASDAQ: GMET). A third-party resource assessment ascribes 1.5 tcf of gross coalbed methane in place and a potentially recoverable resource of 270 bcf net to the Company, inclusive of proved, probable, possible and conGething CBM tingent resources. This CBM project is currently warehoused Exploration Well for future development if and when gas prices rise.

CE Land Base & Pipeline Access

CORPORATE PROFILE

TSX:EE DIRECTORS

Exall Energy Corporation is a Canadian based junior oil & gas exploration and production company developing oil & gas assets in Western Canada, particularly in the Mitsue area of Alberta.

Stephen G. Roman Executive Chairman, Gormley, Ont. Frank S. Rebeyka Vice-Chairman, Calgary, Alta.

Bernard A. Lang Director, Edmonton, Alta.

Roger N. Dueck Director, Calgary, Alta.

Exall is a light oil-weighted company with high operating margins.

Starting from a modest production base of light oil and gas, the Company has shown itself capable of setting and achieving ambitious production and cash flow targets. This puts the Company in a favorable position to exploit existing opportunities and to take advantage of opportunities that arise.

Roderick Phipps Director, Calgary, Alta.

D. Allan Menzies Director, Calgary, Alta.

Wayne Egan Director, Toronto, Ont.

The Company’s reserves at December 31, 2010 are 2,093 Mboe total proved and 3,253 Mboe proved plus probable and represent a 82 percent and 32 percent increase over the December 31, 2009 year end reserves. The increase in reserves is due to the drilling success during the first six months of 2010 and GPP approval. The Company’s production crested the 2,000 barrels per day mark in mid-October with the completion of a battery expansion and the receipt of the approval of the Company’s second Waterflood Project and Good Production Practice (GPP) from the ERCB.

OFFICERS Stephen G. Roman, B.A. Executive Chairman Roger N. Dueck, B.Eng., P.Geol.

President and Chief Executive Officer

During the third quarter Exall acquired an average 73.5% working interest in 239.25 gross sections or 153,120 gross acres (175.85 net sections or 112,543 net acres) of Crown land in the Greater Mitsue area at an average cost of $20.53 per acre. It is the opinion of the Company that the land has multi-zone light oil potential and a multi-well exploration program is in the permitting stage to verify the potential. Six exploratory wells will be drilled on the acquired acreage beginning in mid-October 2011. The acquisition of these lands brings the Company’s total undeveloped land holdings in the Greater Mitsue area to 289.77 gross sections or 186,280 gross acres (211.07 net sections or 135,688 net acres). With the acquisition of the lands Exall is permitting a 224 square kilometer 3D Seismic program for the winter of 2012 and 2013.

In the third quarter of 2011, Exall has participated in the drilling of 3.0 gross (2.10 net wells). Of the three wells drilled, one was completed and tied in by November 2011. The well was flowing 350 BOEPD (250 BOEPD net) with nil water when shut in at the termination of the 72 hour testing period allowed by the ERCB. One other well was finished drilling and awaiting completion and tie-in operations. The third well has now finished drilling.

Contact Information: Exall Energy Production

Roger N Dueck President & Chief Executive Officer Exall Energy Corporation 400, 715 – 5th Avenue SW Calgary, AB T2P 2X6 403-237-7820 ext 223 office 403-262-4723 FAX rd@exall.com email Exall Energy Corp website www.exall.com The company’s filings can be accessed on SEDAR at www.sedar.com

Warren F.E. Coles, MBA Vice-President, Finance and Chief Financial Officer Glen Kerr, B.Eng., P.Eng. Vice President, Operations Janet MacKenzie, P.Geol.

Vice President, Exploration

OFFICES Exall Energy Corporation 400, 715 – 5th Avenue SW Calgary, Alberta T2P 2X6 T: (403) 237-7820 F: (403) 262-4723 Exall Energy Corporation 8 King Street East, Suite 1700 Toronto, Ont. M5C 1B5 T: (416) 368-3949 F: (416) 368-5146

TRANSFER AGENT Equity Transfer & Trust Company 200 University Avenue, Suite 400 Toronto, Ont. M5H 4H1 T: (416) 361-0152 F: (416) 361-0470

AUDITOR PricewaterhouseCoopers LLP Calgary, Alta.

LEGAL COUNSEL MacLeod Dixon LLP, Calgary, Alta.

WeirFoulds LLP, Toronto, Ont.

FALL 2011 – SEPAC INVESTOR SHOWCASE 13

CORPORATE PROFILE

TSX:GO Suite 400, 250 – Second Street SW | Calgary, AB T2P 0C1

Toll-free investor line: Main: Fax:

SENIOR MANAGEMENT

Bill Andrew Executive Chairman Dale Miller President William Tang Kong VP Corp. Development

DIRECTORS Bill Andrew John Brussa Glenn Carley William Cooke

1-888-598-1330 403-261-6012 403-262-5561

HIGHLIGHTS

• Reinvigorated August 12, 2011 with a new management team • Solid production platform for continued growth • Strong land position in Peace River Arch/Deep Basin area • Good exploration exposure • Strong hedge positions

PROFILE

2011 GUIDANCE $100-$105 million

Funds flow Funds flow per share

TSX Trading Symbol Shares Outstanding

GO 86 million

Insider Ownership

2.5%

Share Price1 Market Cap1

$2.55 $207 million

2011 average production

11,500-12,000 BOE/d

Shares/Day2

600,000

Net Acreage

707,000

Exit production (33% liquids)

12,000 BOE/d

Bank debt

$155 million

1 As at October 14, 2011 2 For September, 2011

$1.16 - $1.22

Lawrence Fenwick Dale Miller

PEACE RIVER ARCH/DEEP BASIN AREA

Brad Munro

Galleon Oil Facility Galleon Gas Facility

Patricia Newson

INVESTOR CONTACTS Bill Andrew

Area Production: 10,300 boe/d Acreage: 450,000 net acres

CORE

OPERATING AREA Worsley Area

Jennifer McIsaac Josh Groberman Smoky Area Peace Area

www.Guidex.ca 14 SEPAC INVESTOR SHOWCASE – FALL 2011

CORPORATE PROFILE

TSX: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, and Niton areas. Hyperion also operates in British Columbia in the Paradise area.

MANAGEMENT

HIGHLIGHTS

Trevor Spagrud President, Chief Executive Officer and Director Larry Hammond Chief Operating Officer Doug Bailey Chief Financial Officer

Tim Gee Vice President, Engineering Ryan Heath Vice President Land & Business Development

Steve Horth Manager, Exploration

BOARD OF DIRECTORS Rod Maxwell Dan O’Neil Greg Turnbull Greg Bay Trevor Spagrud

Completed four acquisitions since July 2010. Gaining scale and repeatability in established Cardium light oil producing areas.

64 un-booked, net drilling locations (54 targeting light oil) to provide the opportunity for strong, operated, organic growth in the second half of 2011 and 2012.

2011 capital budget: • 11 gross (9 net) total wells, including 8 gross (6 net) Cardium horizontal light oil wells • 8 gross (6.4 net) total wells have been drilled through the end of Q3/11 • 3 gross (2.6 net) Cardium horizontal light oil wells planned for Q4/11 Guidance: • Average 2011 production of 950 boe/d (52% light oil and liquids) • Exit 2011 production of 1,500 boe/d (67% light oil and liquids) • Capital expenditures of $33 million • Operating costs (including transportation costs) of 12.20/boe

HYPERION LAND BASE Approximately 30,000 net acres of undeveloped land in west-central Alberta and northeastern British Columbia including: Approximately 21,000 net acres in the Cardium light oil­­producing fairway

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

MARKET DATA

2011 reserves

Avg. Daily Volume: 30,000

Proved Producing

Shares Out. (basic): 54.2mm Market Cap.: $38.0mm

1,837

Past Periods

1,000 800 600 400 200 0

Q1/ Q1 2011 Budget

Q2 Q2/ Q3/ 2011 Budget 2011

Q4/ 2011

Proved Plus Probable RLI: 8.0 years

Exit 2011

$300.00 $250.00 $200.00 $150.00 $100.00 $50.00 $–

YE 2010 P 2011 2P Land Seismic & BT NPV 10% Additions BT Tax Pools NPV 10%

Debt

64 Net Drilling Locations

$ 5.50 $ 5.00 $ 4.50 $ 4.00 $ 3.50 $ 3.00 $ 2.50 $ 2.00 $ 1.50 $ 1.00 $ 0.50 $–

NPV 10% Before Tax TPP ($M)

2,641

DEC. 31, 2010

1,200

668

RESERVE SUMMARY

1,400

1,973

Total Proven & Probable

•

NAV BUILD – PRO FORMA

PRODUCTION GROWTH

Light Oil + NGLs

1,600

136

Probable

All proved undeveloped and probable undeveloped reserves from independent evaluators were on production as of March 2011.

Net Asset Value ($MM)

FD Shares Out: 72.3mm September 30, 2011

Total Proved (mboe)

•

DEC. 31, 2011

Net Debt: $0.6

Natural Gas

Proved Undeveloped

Net Asset Value/Share (Basic)

Recent Price: $0.70

$45,246

PUD 6%

Prob. UD 2%

Prob. DP 18%

PDP 74%

FALL 2011 – SEPAC INVESTOR SHOWCASE 15

CORPORATE PROFILE

TSX-V:PXL

Oil & Gas Corporation TSX Venture Exchange: PXL

MANAGEMENT

CORPOR ATE PROFILE

Kevin Gibson

Palliser Oil & Gas Corporation is a Calgary based, publicly traded emerging junior oil and gas company

President & CEO

on the TSX Venture Exchange (TSX:V) with “PXL” as its trading symbol. Palliser has two core areas:

Allan Carswell Vice President, Exploration & COO Ivan J. Condic

the greater Lloydminster heavy oil area of both Alberta and Saskatchewan; and a natural gas area located near Medicine Hat, Alberta. The Company is currently focused on high netback conventional heavy oil production in the greater Lloydminster area of both Alberta and Saskatchewan.

Vice President, Finance & CFO Vice President, Engineering Glenn Taylor

CORE AREAS

CORPOR ATE FACTS Capital Structure

Vice President, Production & Operations

• Shares outstanding (basic/ diluted) - 43.2 MM/46.9 MM

DIRECTORS

• Insider holdings (basic/diluted) - 7%/12%

Allan Carswell

• Credit facility - $28.0 MM

Ken Crowther

• Net debt (@ June 30/11) - $12.4 MM

Daryl Fridhandler, Q.C., Chairman Kevin Gibson

ALBERTA

SASKATOON CALGARY

• Tax pools (@ June 30/11) - $52.6 MM

Stephen Hayden Jeffrey C. Saponja

• August 2011 production - 1,508 boe/d (97% heavy oil)

HEAD OFFICE

• Undeveloped land - 47,168 net acres

600, 840 – 6 Avenue SW,

• Prospect inventory - 125 heavy oil locations

Calgary, Alberta T2P 3E5

Lloydminster Heavy Oil Area

EDMONTON

Asset Base

Current focus

SASKATCHEWAN

ALBERTA

Medicine Hat Gas Area

SASKATCHEWAN

Frenchman Lloydminster Tangleflags

Palliser Assets

~ 65 miles

Robert (Bob) Padget

Edam Manitou Lake

[p]: 403-209-5710

~ 65 miles

[f]: 403-228-7992

CONTACT INFORMATION Kevin Gibson President & CEO Direct: (403) 209-5717 Email: kevin@palliserogc.com 16 SEPAC INVESTOR SHOWCASE – FALL 2011

2011 CAPITAL PROGRAM Drilling Locations Reactivations Capital Expenditures (excluding property acquisitions)

PRODUCTION PROFILE

24

(in 000’s)

13 $27.0

6

Oil Base Gas Base Production/share

(boe/d) 2500

5 4

2000 1500

3

1000

2

500

1

0

Q1/09

Q2/09 Q3/09 Q4/09 Q1/10

Q2/10 Q3/10 Q4/10 Q1/11 Q2/11 Q3/11 Q4/11

Forecast Forecast

0

Production/share (boe/million weighted average shares)

www.palliserogc.com

Production

[e]: info@palliserogc.com

CORPORATE PROFILE

TSX-V:PDO

Building on SucceSS Portal Resources Ltd. (TSX.V: PDO) is pursuing oil and gas opportunities in the Western Canadian Sedimentary Basin through heavy oil development drilling in West-Central Saskatchewan, light oil and natural gas drilling in Central Alberta and strategic acquisitions.

the team

corporate profile

corporate Structure

david hottman Chairman, President & C.E.O

• S trong management team with track record of building successful resource companies

TSX Venture Exchange/ Frankfurt Stock Exchange ........ PDO-V/P5H

Barry J. reid B.Sc., P. Eng., Director and COO mark Brown CA, Director and CFO John m. macrae M.Sc., B.Sc., P. Geol, Director gary nordin B.Sc (Geol. Hons), Director frank Wheatley BComm., LLB, Director John Byers B.Sc. (Eng), P. Geoph, Oil and Gas Advisory Board and a consultant to the Company John Kanderka B.Sc., Oil and Gas Advisory Board and a consultant to the Company

contact mr. david hottman Chairman, President & C.E.O mr. Barry J. reid Director and C.O.O.

Portal Resources Ltd. Suite 2600, 144 – 4th Ave. SW Sun Life Tower West Calgary, Alberta Canada, T2P 3N4 Phone: 403.514.8227 Fax: 403.303.4780 TSX-V: PDO Frankfurt: P5H Email: info@portalresources.net Website: www.portalresources.net

• F ocused on the Western Canadian Sedimentary Basin (WCSB) • E arly accumulator of highly prospective acreage • A pplying the latest technology to define untapped potential • E xploitation of oil and gas reservoirs using horizontal drilling

Common Shares - Issued & Outstanding ....... 48,745,539 - Options .............................. 3,865,600 - Warrants ............................ 12,693,450 Fully Diluted ......................... 65,304,589 Closely Held (FD) ................. 20,000,000 Cash on Hand ....................... C$200,000 Corporate Debt ..................... None (October 2011)

portal’S focuS in WeSt central SaSKatcheWan cactuS laKe (mclaren formation) (100% working interest) Purchase and Sale Agreement - 19 sections of land • O n Oct. 13, 2011, Portal announced a $9.1 million acquisition of production and reserves in West Central Saskatchewan.

• Th e assets produced 365 barrels of oil equivalent per day in August and are believed to offer significant upside through heavy oil development drilling.

• Th e effective date of the transaction is August 1, 2011 with a closing date scheduled for November 30, 2011.

• Th e existing oil pool being purchased (McLaren formation) has generated cumulative production of approximately 1.6 MMstboe.

• A third party engineering report completed by McDaniel & Associates Consultants Ltd. of Calgary, Alberta dated December 31, 2010, internally adjusted for year to date production, estimates property wide total proved reserves to be 397 thousand stock tank barrels of oil equivalent (Mstboe) with proved plus probable reserves of 711 Mstboe.

Salt laKe (BirdBear formation) (25% working interest) Oil & gas development project - 6 sections • D rilling operations (horizontal) are targeting the Birdbear formation — at a depth of 800 metres — with a horizontal leg of up to 800 metres.

• S ix wells (three horizontal and three vertical) have been drilled or recompleted on the play since Portal initiated development in May 2011.

• T wo vertical and two horizontal wells are currently producing.

FALL 2011 – SEPAC INVESTOR SHOWCASE 17

CORPORATE PROFILE

TSX:PIE Primary Petroleum is a junior oil and gas company engaged in exploration and development activities in Montana and Alberta and currently holds substantial land positions in two unconventional tight oil plays in North America: the Pondera-Teton Prospect in the Southern Alberta Basin of western Montana and the Saturn Prospect in the Williston Basin. The Company’s mandate is to continue to acquire strategic land positions of merit in the Sedimentary Basin of the western United States and Canada, de-risk them using modern industry science and seek out qualified industry partners to exploit and develop them. To learn more about us, please visit our website at www.primarypetroleum.com.

THE SOUTHERN ALBERTA BASIN OF NORTHWESTERN MONTANA – A NEW MULTI-FORMATION TIGHT OIL RESOURCE PLAY

CONTACT US HEAD OFFICE Primary Petroleum Corporation Suite 800, 744 4th Avenue S.W. Calgary, AB, Canada T2P 3T4 www.primarypetroleum.com

CONTACT INFORMATION Mike Marrandino President & CEO (403) 262-3132 ext 224 mike@primarypetroleum.com

MANAGEMENT, DIRECTORS & ADVISORS Mike Marrandino Founder, President & CEO, Director Rod Haverslew M.Sc., P.Geol VP Exploration, Director Jim Ehrets P.Geol Technical & Operations Montana, Director Colleen Bailey B.A. Manager of Land Brian Spilchen, CMA, CFO INDEPENDANT DIRECTORS Peter A. Carwardine VP Land, OMERS Energy Services K. Alan Blair Partner, Gowling Lafleur Henderson LLP ADVISORS Don R. Lee, Attorney, Montana Lease & Title Options P. Ted Doughty Ph.D, P.Geol.

Primary Petroleum has focused its resources in the acquisition of prospective oil and gas acreage in Montana, accumulating a significant land position in the Southern Alberta Basin Bakken Fairway (SABBF) in Pondera-Teton in western Montana (approximately 196,000 net acres - 67.5% W.I.) and in the northwestern area of the Williston Basin in Saturn in eastern Montana (approximately 20,000 net acres - 100% W.I.).

On October 19, 2011, the Company announced the completion of a Sale and Joint Venture Agreement with a major U.S. based Industry Partner (JV Partner), whereby the JV Partner acquired a 32.5% working interest in Primary’s 291,000 net acres in Pondera-Teton for $48.5 million (USD). The JV partner paid $7.5 million (USD) in cash and committed $41.0 million (USD) for an exploration program.

The Exploration Program consists of shooting 3D seismic, purchasing trade 2D seismic, and drilling six vertical and up to six horizontal wells.

Primary is the operator for the seismic and vertical drilling program and the JV Partner will become the operator of the horizontal drilling program.

The initial Exploration Program is anticipated to be completed by the end of 2012. Upon completion of the initial Exploration Program, the JV Partner will have a 60 day option to acquire an additional 17.5% working interest for a further $41.0 million (USD) of committed funds for a secondary Exploration Program.

Estimated published OOIP (Original Oil in Place) on a section of land in the Fairway ranges from 13 million to 15 million barrels. To date, in the SABBF on both sides of the border, over 75 vertical and horizontal wells are in the process of being drilled, tested and/or completed.

The Saturn Prospect lands lie along the western margin of the Williston Basin. Primary has identified six structures from 2D seismic on its lands which look similar to the structure found in the Cabaret Coulee Field adjoining Primary’s land. This field has produced 450,000 barrels of oil from the Mission Canyon and McGowan Formations. Geological mapping indicates that there is multi-zone potential in the area. The Company is currently seeking an industry partner to work with in an exploration program.

18 SEPAC INVESTOR SHOWCASE – FALL 2011

Primary’s current land holdings and future exploration and development possibilities in Montana will provide excellent upside for the Company and its shareholders because: • Montana is located in the Western Sedimentary Basin, which is world renowned for oil and gas discoveries.

• The Southern Alberta Basin Bakken Fairway (SABBF) in western Montana has produced approximately 300 mmbo of Bakkensourced oil, industry early estimates of which have the vast potential for multiple billions of barrels.

• To date, industry research reports 45 companies on both sides of the border have acquired acreage in the SABBF. • Approximately $0.5 billion spent on land, exploration and drilling in the SABBF. • The Williston Basin drilled over 3,000 wells and has in excess of 3.0–4.3 bbls of recoverable oil; current production is in excess of 450,000 bbls/d in Canada and the U.S. • Primary land holdings in the prospect areas offer multi-zone potential for oil and gas and are close to existing infrastructure.

CORPORATE PROFILE

TSX:SHR Sure Energy Inc. is a junior Canadian oil and gas company listed on the TSX. The management team was instrumental in building Vermilion Resources Limited and Clear Energy Inc. The Company has material exposure to a Viking light oil resource play at Redwater, Alta., and recently acquired a new core area at Virginia Hills, Alta., where the Company has identified light oil potential in both the Viking and Beaverhill Lake formations.

DIRECTORS Jeffrey S. Boyce Chairman and Chief Executive Officer, Sure Energy Inc. W. Peter Comber Managing Director, Barrantagh Investment Management Inc. Larry J. Macdonald Chairman and Chief Executive Officer, Point Energy Ltd. Thomas P. Stan President and Chief Executive Officer, Foundation Oil and Gas

OFFICERS Jeffrey S. Boyce Chairman and Chief Executive Officer Chris Baker President, Chief Operating Officer and Vice President, Exploration Lance Wirth Vice President, Finance and Chief Financial Officer

Redwater

Virginia Hills

Daniel G. Kolibar Corporate Secretary

The Redwater Viking light oil property continues to be the cornerstone of growth for Sure Energy. The Company owns 9,535 net acres of prospective land in the heart of this light oil fairway and has had considerable success drilling horizontal wells to exploit the shaley Viking sands. The Company has an inventory of 42 gross (32 net) low-risk locations in the area, as well as 8 ½ sections (5,440 acres) of land to still be evaluated.

In early 2011, Sure Energy completed two asset acquisitions in the Virginia Hills area of Alberta and thereby created a new core area.

The area has resource light oil potential in both the Viking and Beaverhill Lake formations. The Company plans to be active in evaluating the potential in both zones in late 2011 with the aim to set up development drilling and completion programs in 2012.

HEAD OFFICE

Saskatchewan

1100, 606 4th Street SW Calgary, Alberta T2P 1T1 T: (403) 410-3100 F: (403) 410-3111 E: info@sureenergyinc.com www.sureenergyinc.com

Sure Energy recently drilled three open-hole horizontal wells in the Alida Formation adjacent to a discovery well the Company drilled in the fall of 2010 at its Queensdale property in southeastern Saskatchewan. The original light oil discovery well came on production in early October 2010 and had paid out by the end of December 2010. The well had produced 35,400 barrels of oil by the end of August, despite being shut in during breakup. The three followup locations should come on stream in early Q4/2011 when facility construction is complete.

C. Tom Banks Vice President, Engineering Rob Sheedy Vice President, Land Dale Kuzyk Vice President, Production

CONTACT Chris Baker President, Chief Operating Officer and Vice President, Exploration T: (403) 410-3105

Operations Production (43% oil & liquids)

1,500 boe/d

Proved + probable reserves (Dec. 31, 2010)

4,470 Mboe

Undeveloped land (net acres)

72,363

Financial Current share price

$1.30

Shares outstanding (basic)

48,548,630

Market capitalization

≈$63.0 MM

FALL 2011 – SEPAC INVESTOR SHOWCASE 19

CORPORATE PROFILE

TSX-V:TER

20 SEPAC INVESTOR SHOWCASE – FALL 2011

CORPORATE PROFILE

TSX-V:TFA.A

AN OIL FOCUSED EXPLORATION COMPANY oil drilling

Who we are Trafina Energy is a junior explorer and

McMullen, Alberta

producer

• 21,120 acres at 100% • 33 sections of land (100% net) • Prospective for Wabiskaw heavy oil “cold production” • Trafina drilled three vertical wells and brought them on stream in 2011 • Seven vertical well drilling licences obtained • Satisfactory logs, core and production may lead to full quarter section development with eight slant wells per quarter (POD drilling).

with

prospects in

significant

heavy

oil

the McMullen area of

northeast Alberta. The Company also has production and prospects in Rangeview/ Divide in southwest Saskatchewan.

Financial overview Recent share price (Oct. 13, 2011): Ticker symbol

$0.26

TSX-V:TFA.A

Shares outstanding:

55,690,562

Warrants (at $0.45):

25,715,000

Options:

3,585,000 $14.5 mm

Directors • • • • • •

Robert W. Lamond (Chairman) Donald J. Douglas Russell J. Kalmacoff Kelly J. Ogle C.A. (Tony) Teare Roland T. Valentine

Management • K elly J. Ogle – President and CEO • Gary Taylor – Vice President of Finance and CFO • Ben VanRootselaar – Vice President of Engineering • Ed Marcinew - Vice President of Exploration

Trafina Energy Ltd. Suite 2210, 530 - 8 Avenue S.W. Calgary, Alberta T2P 3S8 Phone: 403-263-0800 Fax: 403-263-0811 info@trafinaenergy.com

www.TrafinaEnergy.com

OIL FOCUS AREA

AB

SK

MCMULLEN

WETASKIWIN

McMullen’s Proven Reserves Heavy Oil Reserves as at Oct. 1, 2011 (McDaniel & Associates Consultants Ltd.) (based on forecast prices and costs) (Mbbl)

RANGEVIEW/DIVIDE

Total Proved

Total Probable

Total Proved Plus Probable

515.3

403.5

918.8

(average exercise price at $0.37) Market capitalization:

GAS

Net Present Values of Future Net Revenue as at Oct. 1, 2011 (forecast prices and costs) (before income tax) (M$) Discount Total Proved Factor

Total Probable

Total Proved Plus Probable 15,250

0%

6,265

8,985

5%

5,408

7,510

12,918

10%

4,636

6,313

10,949

15%

3,948

5,336

9,284

20%

3,336

4,535

7,870

The circle below indicates the one section that was evaluated to determine 94% of Trafina’s proven plus probable reserves at McMullen based on results of three vertical wells.

The remaining 6% comes from three additional wells to be drilled in the immediate area.

McMullen’s Significant Upside (based on 33 sections) McMullen Oil Initially-In-Place (OIIP) Estimated Discovered OIIP as of March 31, 2011 (McDaniel & Associates Consultants Ltd.) Category

Discovered OIIP (MMbbl)

Low Estimate

254

Best Estimate

303

High Estimate

362

(1) Discovered Oil Initially-in-Place is that quantity of oil that is estimated, as of a given date, to be contained in known accumulations prior to production. OIIP is the most specific category of resources that can be assigned at this stage because there is insufficient data available at this time to sub classify. The data required to sub classify is data such as viscosity and flow test data that will be obtained when the vertical wells are drilled. There is no certainty that it will be commercially viable to produce any portion of the resources.

additional oil upside Rangeview/Divide, Saskatchewan • 90% working interest in 19,805 acres (17,825 net acres) of oil prospects • Upper and Lower Shaunavon and Madison oil zones.

• Multi-zone exploration potential in the Cretaceous and Mannville zones

FALL 2011 – SEPAC INVESTOR SHOWCASE 21

CORPORATE PROFILE

TSX-V:TOL

CORPORATE PROFILE TriOil Resources Ltd. is a publicly traded junior oil resource player in Western Canada. The Corporation’s strategy is to acquire substantial land positions on early stage light oil resource opportunities and capitalize on improvements in horizontal drilling and multi-stage fracture stimulation technologies, specifically targeting opportunities in the emerging Cardium oil trends in Alberta. TriOil has successfully executed its business plan and has positioned the Company for solid growth in production, reserves and shareholder value.

LIGHT OIL RESOURCE PLAYS CONVENTIONAL OIL PLAYS LIQUID RICH GAS PLAYS

INVESTMENT HIGHLIGHTS • Focused on light oil resource plays, and in par• • •

•

•

SWEENEY

ticular the Cardium at Lochend, Alberta Current production of +1,300 boe/d (55% oil weighted, 75% operated) Net undeveloped land position of over 140,000 net acres Utilize improvements in horizontal drilling and multi-stage fracture stimulation technologies Take a portfolio approach to resource plays, acquiring substantial land positions on a number of play types Have a balanced growth strategy, including focused strategic acquisitions, exploitation and exploration

• Maintain a conservative balance sheet • Focus on per share production and reserve growth • Active 2011 to date, having successfully drilled 10 (5.5 net) horizontal oil wells at Lochend, with IP30’s ranging from 125-300+ Boe/d

• Significant inventory of over 100 (60 net) low risk development horizontal oil locations

POUCE COUPE

ALBERTA

LOCHEND TABLELAND MANAGEMENT Russell J.Tripp, LLB, P. Land President, Chief Executive Officer & Director Andrew Z. Wiacek, M.Sc., P. Geoph.

Vice President, Exploration Shaun Wyzykoski, P.Eng. Vice President, Engineering Craig Haavardsrud, B. Comm.

Vice President, Business Development & Land Keith Mychaluk, MBA, P. Geol Exploration Manager Cheryne Johnson, CA, MPAcc. Chief Financial Officer & Vice President, Finance BOARD OF DIRECTORS Russell J.Tripp Andy Mah Paul McGarvey Glenn Hockley Korby Zimmerman Glen Gretzky

HEAD OFFICE 1000, 355 Fourth Ave. SW Calgary, Alberta T2P 0J1 T: (403) 265-4115 F: (403) 232-8463 www.trioilresources.com 22 SEPAC INVESTOR SHOWCASE – FALL 2011

SASK.

CONTACT INFORMATION Russell J. Tripp President and Chief Executive Officer T: (403) 265-4115 E: rtripp@trioilresources.com

TSX-V: TOL

CORPORATE PROFILE

TSX-V:TUS

A debt free heavy oil producer, with a substantial drilling inventory.

Listing Shares outstanding Market cap @ $0.15 Mgmt./Directors

TSXV-TUS 124 million $19 million 36.4%

$8.0 million Available Capital $1.6 mm Working capital $1.8 mm Liquid investment $4.6 mm Undrawn bank facility

FOCUSED ON HEAVY OIL IN THE LLOYDMINSTER REGION EXTENSIVE DEVELOPMENT DRILLING INVENTORY AT EVESHAM & MACKLIN ONGOING EXPLORATION ON 9 ADDITIONAL OIL PROSPECTS SUBSTANTIAL 18-MONTH GROWTH PLAN

MANAGEMENT Robert W. Lamond John G.F. McLeod Donald K. Clark Marshall Kis Brad R. Perry

President & C.E.O. Vice President & C.O.O. Vice President Operations Vice President Development Geology C.F.O.

BOARD OF DIRECTORS Robert W. Lamond Charles A. Teare Donald K. Clark John G.F. McLeod

Glen Phillips Roger W. Hume David Bennington Jack Steinhauser

www.TuscanyEnergy.com

FALL 2011 – SEPAC INVESTOR SHOWCASE 23

CORPORATE PROFILE

WesternZagros Resources Ltd. is a publicly traded, Calgary-based, international oil and gas company with unique early stage entry into the Kurdistan Region of Iraq. WesternZagros holds two Production Sharing Contracts (“PSCs”) with the Kurdistan Regional Government (“KRG”) that are on trend with a number of prolific historic oil and gas discoveries, in what is now one of the world’s hottest exploration spots. The Company holds a 40 percent working interest in both PSCs. WesternZagros has drilled two exploration wells, Kurdamir-1 and Sarqala-1, with significant discoveries in both and will complete drilling a third exploration well, Mil Qasim-1, by year-end 2011.

OIL AND GAS PROSPECTIVE RESOURCES Current exploration activities are targeting prospective resources of over 1 billion barrels of oil equivalent, or 800 million barrels of oil, in three wells by June 2012 (includes the Sarqala-1 oil discovery and the Mil Qasim-1 and Kurdamir-2 wells).

Map showing location of WesternZagros’s Garmin and Kurdamir Blocks in the Kurdistan Region of Iraq

Audited prospective resource estimates on WesternZagros’s exploration blocks total 2.2 billion barrels of oil, or 3.6 billion barrels of oil, gas and condensate (recoverable).

ADVANTAGED PRODUCTION SHARING CONTRACTS The Kurdamir and Garmian PSCs each govern separate contracts areas. The Garmian contract area (1,780 square kilometres) is operated by WesternZagros. The Kurdamir contract area (340 square kilometres) is operated by Talisman, with a 40 percent working interest. WesternZagros holds a 40 percent working interest in both PSCs. The KRG holds a 20 percent working interest in both PSCs. The remaining 40 percent third party participant interest of the Garmian PSC is held pending assignment by the KRG. OPERATIONAL ACHIEVEMENT AND RECENT FINANCING Nov 2009 Discovery of a large gas cap at Kurdamir-1 which tested 27.5 MMcf/d of gas and 1,172 b/d of 61 degree API natural gas liquids (condensate).

Nov 2010 Discovery of an oil column beneath the gas cap in the world class Oligocene reservoir in the Kurdamir-1 well. Prospective oil resources of over 500 mm barrels (recoverable) in the Oligocene, Eocene and Cretaceous formations at the Kurdamir-1 well.

Jun 2011 Sarqala-1 discovery well flowed light, 40 degree API oil at rates of over 9,000 b/d.

Map 1: Leads and prospects on the Kurdamir and Garmian Blocks

Aug 2011 Mil Qasim-1 exploration well spudded in Garmian Block, 3 kilometres from Sarqala-1 oil discovery well.

Sep 2011 Approval to begin producing Company’s first oil through an extended well test program at Sarqala-1 well.

Oct 2011 Secured C$46.6 million strategic investment by TAQA to further exploration programs in Iraq.

MANAGEMENT Simon Hatfield Greg Stevenson Dr. George Pinckney Ian McIntosh Lee Westermark

BOARD OF DIRECTORS Chief Executive Officer Chief Financial Officer VP Exploration & Reservoir Development VP Kurdistan Business Unit GM Operations

HEAD OFFICE 600, 440 – 2nd Avenue SW Calgary, Alberta T2P 5E9 T. +1 403 693 7001 F. +1 403 233 0174 www.westernzagros.com

24 SEPAC INVESTOR SHOWCASE – FALL 2011

David Boone Fred Dyment John Frangos Simon Hatfield James Houck Randall Oliphant William Wallace

President & CEO, Barrick Energy Inc. Chairman, WesternZagros Resources Ltd. Independent Businessman CEO, WesternZagros Resources Ltd. President & CEO, The Churchill Corporation Executive Chairman & Director, New Gold Inc. Independent Businessman * TAQA Nominee Pending

INVESTOR INQUIRIES T. +1 403 693 7017

investorrelations@westernzagros.com

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formerly Tundra Engineering Associates Ltd.

Our multidisciplinary team shapes and enhances the world around us à Gas Compression à Gas Plants à Pipelines à Civil à Environmental à Water Treatment

à Oil & Gas Processing à Drafting / 3D Modeling à Power Generation à Project Management à Electrical / Instrumentation à Procurement / Expediting /Cost Control

Suite 805, 1331 Macleod Trail SE, Calgary, AB T2G 0K3 403.777.2477

www.genivar.com

TOSCANA CAPITAL CORPORATION Since its inception in 2003, Toscana Capital Corporation has met the capital needs of over 90 junior oil and gas producers by providing senior and subordinated debt facilities for working capital and the acquisition and development of oil and gas reserves. With over $300MM in reserved based lending transactions successfully underwritten, Toscana is a leader in providing growth capital to both private and public junior resource companies.

For further information please contact us or visit our website at www.toscanacapital.com.

Dean R. Jensen Managing Partner (403) 410-6795

Brian J. Mellum Managing Director (403) 410-6792

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JuneWarren-nickles.com

W

2011–2012

HO HAT HERE

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INDEX

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The 2011-2012 Canadian Oil Register is now available...

r. c o m

Of THE CAnAdiAn OilpATCH

GST and shipping not included

Comple te Table of Conten Genera ts l Index Canadi an Geo graphic Interna Index tional Geo graphic Mergers Index and Acq uisitions Produc Index ts & Ser vices Oil & Gas

Produc

ers, Exp

lorers and

Service

& Supply Compan ies Consul tan & Geophy ts – Engine ering, Geo sical log

ical

Consul

ting Ser

vices

Data Pro

cessors/S

oftware

Develo pers Engine ers Design , Pipeline Con ers, Con structio tractors, n & Fab ricator Environ mental Service s

2011– 2 012

Financial

& Invest

Geophy

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sical Dat

a Broker

Lease Bro

kers &

s & Con

tractors

Land Age

nts

Manufact

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Oilwell Oilwell Pipelin

Drilling

Develo

pers

FeaTures oF The 61st ediTion include: More than 10,000 key contacts Information on over 2,500 companies Mergers and acquisitions data

NEW

Contrac

tors

Servici

ng

e Compan ies & Pow er Distrib utors Petrochem ical Proces sors, MaProducers – Ref rketers & Plant iners, Transp Operato ortation rs Constru & ction ComOilfield panies Govern me Associatio nt Departm ns & Fou ents & Age ncies, ndation s Who’s Who

Over 30 years of historical data online

JuneWarren-nickles.com

TM

Our Junior Oil & Gas practice is anything but junior KPMG audits 54 percent of the junior producers on the #### 2011 Oilweek Top 100

KPMG For more information on how full page ad KPMG can assist you, contact: Page outside back cover

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 2011 ‘Junior’ defined as less than 10,000 boe/d. © 2011 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.