Investor Presentaiton

Ubuntu compared to it's neighbours.... • EAGLEWOOD ENERGY INC. Ubuntu-1 reservoir properties similar to nearby offsets Property Ketu-1 ST1 Elevala-1 Ubuntu-1 Net Pay (m) 7.0 11.5 8.0 Net Pay Por (%) 18.0 15.5 14.6 Net Pay Sw (%) 39.0 32.5 41.0 % Inerts 7.8 6.7 Mobility from RDT -100 >100 (mD/cP) Hydrocarbon 0.421 0.418 4.9 Up to 3,560 (4 points >1,000) 0.420 gradient (psi/m) Ideal CGR* 25 64 Welltest Not tested 11.9 MMscf/d gas & 624 BPD condensate, 1/2" choke from the Elevala Sandstone Unit (57bbl/mscf). AOF of 60mscf/d 51 Not tested to date 15

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