Frontier Plays in Congo and Offshore Namibia Spring 2012 TSX-V: - PowerPoint PPT Presentation

TSX-V: ENG | www.energulf.com Frontier Plays in Congo and Offshore Namibia Spring 2012

TSX-V: ENG Disclaimer Certain disclosure in this presentation, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to the Company’s operation as an oil and gas exploration company that may cause future results to differ materially from those expressed or implied by those forward-looking statements. Readers are cautioned not to place undue reliance on these statements as they involve known and unknown risks, uncertainties and other factors that may cause a hinge in assumptions and the actual outcomes and estimates may be materially different from the estimated or anticipated future results, achievements or positions expressed or implied by those forward-looking statements. The Company disclaims any intentions or obligations to update or revise any forward-looking statements whether as a result of new information, future events or otherwise. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this presentation. Furthermore, any resource estimate(s) contained in this document that have been prepared in-house by the Company (including any such references to resource estimate-potential) is not compliant with National Instrument 51-101 – Standards of Disclosure for Oil & Gas Activities. Such resource estimate(s) contained in this document is based on management’s interpretation of available data and the assumptions stated herein. Accordingly, such estimate(s) should not be relied upon. The reader is advised to obtain independent advice regarding the available data and the assumptions, and the opinions, stated herein. www.energulf.com 2

TSX-V: ENG EnerGulf: At a glance Dallas based management team and West Africa based • technical team have track record of successful projects in West Africa Lotshi Block – Democratic Republic of Congo (DRC ) • Mean resource estimate: 313.2 Million BOE recoverable 1 • – P10 aggregate (high case): 428.6 Million BOE recoverable 1 7 Prospects, 4 independent plays • EnerGulf Operator – 90% Working Interest • 2012 estimated capex (net) - $16.5 to $24.5 mm (2 to 3 wells) • Block 1711 – Offshore Namibia • Mean resource estimate: 3.166 Billion BO recoverable 2 • – P10 aggregate (high case): 6.106 Billion BO recoverable 2 15 prospects, 3 independent plays • EnerGulf interim Operator- 15+% Working Interest • 2012 estimated capex (net) - $1.8 mm ($12 mm seismic program gross) • 1 DeGolyer & Mac Naughton, March 2011 2 Netherland Sewell February 2012 www.energulf.com 3

TSX-V: ENG Directors, Advisors and Management • Jeffrey L. Greenblum: Director • Tom Fetters: Director • Chairman of the Board & CEO • Formerly Exxon, Exploration Planning Manager • Served as senior official in President George H.W. Bush administration at the Department • CEO Consolidated Natural Gas, of Energy and Department of Commerce. • President of Exploration Company of • Senior executive with Diamond Fields Louisiana Resources, Inc (Sold to Inco for $4B). and KP • Clive Brookes: Director & CFO Exploration (Kidder Peabody, oil & gas subsidiary). • Commerce from UBC. • Holds strategic relationships with • Served as a Director, executive and financial government figures in West Africa consultant to companies listed on the TSX Venture Exchange. • Joe Soliz: Director • Founded and developed several start up • J.D. degree from Harvard Law School and companies in resource, service and medical has practiced U.S. and International Oil, Gas sectors. and Mineral Law since 1979 www.energulf.com 4

TSX-V: ENG Directors, Advisors and Management • Dr. Joe Davis : Exploration Manager • Joseph Canales: • Formerly, R&D at Arco, Sr. Advisor at Maxus • Geophysical Advisor Energy • 30 years experience geosciences/ geophysicist: • VP Exploration at Strategic Petroleum and Perenco, Ocean Energy, UMIC, Conoco Hyperion Resource • Experience in On shore and extensive off- • EnerGulf since 2006 shore West Africa exploration • Dr. James Edwards: • Developed EnerGulf projects since 2006 • Exploration Advisor • Formerly Triton Oil, Responsible for Cusiana • William Brumbaugh: field discovery, Colombia (2 nd largest W. Hemisphere) • Drilling Coordinator • EnerGulf since 2006 • 34 years international experience: Conoco • Steven L. Getz: (Regional Coordinator for West Africa/Chief Geophysicist 17 years), Mobil (Angola country • Exploration Advisor manager, 5 years), Amoco, Total, Tullow, • Petroleum Explorationist: 40 years experience Anadarko, ExxonMobil and consultant to • Geologist/Geophysicist: Allen Hoffman various governments, universities and World Exploration Co., Santos, Cities Service Bank • Discoveries approximate 2 BBOE www.energulf.com 5

TSX-V: ENG Directors, Advisors and Management • Israel Hernandez: • Prof. Albert Ongendangenda: • Director General- EnerGulf Congo SARL • Senior Advisor for deepwater drilling, engineering and operations • Located in Kinshasa • Deep offshore drilling manager for Mobil, • Former Energy Advisor to President of DRC BHP, ARCO • The Hon. Andimba Toivo Ya • Dr. Yves Neuville: Toivo: • Special Advisor to the Chairman and • Senior Advisor for African Affairs CEO • Former minister of Mines and Energy, • Former advisor to Minister of Budget and Namibia Finance, France • Chairman of SWAPO (ruling party), Namibia • Professor at Sorbonne www.energulf.com 6

TSX-V: ENG Technical Team Experience Worked as a team for 20 years • West Africa Experience: • Billion barrel discovery (Zafiro) in Equatorial • Guinea Development experience at Zafiro and Alba • (Equatorial Guinea) Successful bid in Nigeria License Round • Development project in Ivory Coast • E&P projects in Angola, Cameron, Gabon, • Republic of South Africa Additional Experience: • Siberia, Venezuela, Colombia, Indonesia, • Malaysia, Iraq USA onshore and offshore Gulf of Mexico • www.energulf.com 7

TSX-V: ENG Share Structure & Capitalization TSX-V: ENG | FSE: EKS CAPITALIZATION ENG Share Price (01/26/12): $0.56 FD Shares Out: 84,139,188 FD MCap: $47,117,945 $1,991,152 Working Cap (Jan/12) (1) : $8,752,188 O&W Proceeds (2) : $36,374,605 FD EV: NOTE: (1) Includes capital that may be in dispute with regards to legal claims by Veritas DGC (2) Proceeds calculated using the average exercise price of the options and warrants from the Aug 31, 2011 financials Last Private Placement: 26/11/10 Issued and outstanding: 68,623,438 $3,224,200 @ $0.40 (8,060,500 units) • Warrants: 7,730,750 One purchase warrant for two • Options: 7,765,000 years @ $0.65 per unit Fully diluted: 84,139,188 * As at January 2012 www.energulf.com 8

TSX-V: ENG Regional Setting: Brazil- Africa Rift Pre-Salt or Syn-Rift Time: Post-Rift Time: Non-marine + salt deposition north of • Turbidite fan deposition • the Walvis Ridge www.energulf.com 9

TSX-V: ENG Democratic Republic of Congo Lotshi Block Population of 71.7 million people • 11 th largest country in the world • Capital city is Kinshasa • GDP of 23.12 billion USD (2010) • Per Capita $300 • Country is rich in natural resources including • diamonds, gold, petroleum and copper The Congo is the largest producer of cobalt ore • Fiscal Terms: • in the world 12.5% Royalty • While the country has continual hardship in the • 100% capital costs available for • east, the DRC has successfully negotiated deductions, 75% in any given year several peace treaties and has conducted two Profit Oil split 45% / 55% between successful elections since 2006 • Government and Contractor The UN continues to operate in the country in • respectively an effort to allow peace to continue No Income tax • www.energulf.com 10

TSX-V: ENG Lotshi Block: Democratic Republic of Congo Cabinda South Block Operator: PlusPetrol 45% Lacula Oil (ROC Oil) 10% Force Petroleum 20% Sonangol 20% Cuba Petroleum 5% carry www.energulf.com 11

TSX-V: ENG Lotshi Block: History PSA signed in 2005 • Presidential decree in 2008 • Airborne magnetics and • gravity survey in 2008 Boundary survey in 2009 • 2D seismic survey in 2010 • Prospective resource report • completed May 2011 Mean Estimate: 313.2 Million • BOE recoverable 2-3 well drill program set to • commence : Q2 2012 First prospect to drill: Dallas • Location of 1 st well www.energulf.com 12

TSX-V: ENG Lotshi Block: 1 st Well Secondary targets Loeme Salt Chela Dolomite Bucomazi Lucula Main Rift Fault Primary target ~1200 ft of closure Proposed TD of well, 2300 m www.energulf.com 13