Investor Presentation April 2011
Disclaimer Forward-looking statements This presentation contains forward-looking information. The projections, estimates and beliefs contained in such forward-looking information necessarily involve known and unknown risks, uncertainties and other factors which may cause Relentless Resources’ actual results, performance or achievements in future periods to differ materially from any estimates or projections of future results, performance or achievements expressed or implied by such forward-looking information. The risks, uncertainties and other factors, which could influence actual results, are described in other documents previously filed with regulatory authorities. Accordingly, users of this presentation are cautioned that events or circumstances could cause actual results to differ materially from those predicted and to not place undue reliance on this forward-looking information. Relentless undertakes no obligation to publish revised forward-looking information to reflect unanticipated events or circumstances. "boe" Presentation The term “barrels of oil equivalent” (boe) may be misleading, particularly if used in isolation. A boe conversion ratio of 6 mcf: 1 bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. All boe conversions on this website are derived by converting gas to oil in the ratio of six thousand cubic feet of gas to one barrel of oil. 2
Corporate Overview Relentless Resources Ltd. is a Calgary based emerging oil and natural gas company, engaged in the exploration, development, acquisition and production of natural gas and medium to light gravity crude oil reserves in Alberta and Saskatchewan. Relentless' common shares trade on the TSX Venture Exchange under the symbol RRL. The Company’s primary corporate objective is to achieve non-dilutive growth and enhance shareholder value through internal prospect development, strategic production acquisitions and prudent financial management. 3
Management and Directors Daniel T. Wilson Director, Chairman, President & Chief Executive Officer William C. Macdonald Director, Consulting Landman Randall P. Boyd Vice President, Finance & Chief Financial Officer Thomas W. Robinson Director, Corporate Secretary 4
Management Biographies D. T. (Dan) Wilson, P. Eng Director, Chairman, President and CEO Mr. Wilson is a University of Saskatchewan Chemical Engineering graduate who has been a working Engineer for 25 years with experience in all • aspects of the oil and gas industry. Since 2000, Mr. Wilson has been President and CEO of three successful junior oil and gas exploration and production companies: Chain Energy • Corporation, Relentless Energy Corporation and Vigilant Exploration Inc., all of which were successfully sold to larger companies. Most recently, Vigilant Exploration Inc. was sold to Tourmaline Oil Corp. in November of 2009. Mr. Wilson has been a Director , the Chairman, President and CEO of Relentless since March of 2010. • W. C. (Bill) Macdonald, P. Land Director , Land Consultant Mr. Macdonald is a University of Calgary graduate who has been a working Landman for over 30 years with experience in all jurisdictions of the • Western Canadian Sedimentary Basin. In 1997 Mr. Macdonald co-founded Avalanche Energy Ltd., a private startup company which raised $25.5MM of shareholder equity and sold for • $253MM at the end its three year corporate history. Mr. Macdonald is President of Bilmac Resources Ltd.(since 1995) an oil and gas consulting company which provides land management support to • various clients and specializes in the capitalization of private oil and gas start-ups . Mr. Macdonald has been a Director of Relentless since March of 2010. • Randall P. Boyd, CGA VP Finance and CFO Mr. Boyd is a professional accountant with over 20 years of senior management experience in various public and private oil and natural gas • exploration and development companies. Mr. Boyd received his Bachelor of Commerce degree from the University of Windsor in 1980 and his CGA designation in 1986. Mr. Boyd served as CFO for Masters Energy Inc. from 2004 to 2009 and Vice President, Investor Relations of Chieftain International from 1999 to • 2001. Between periods of permanent employment, Mr. Boyd has worked as a contract CFO for various private and public oil and gas companies. • Mr. Boyd has been the Chief Financial Officer of Relentless since February of 2011. • 5
Market Capitalization Stock exchange TSX Venture Ticker symbol RRL Recent share price (March 23, 2011) $0.35 Shares outstanding -Basic 24,285,085 -Options (average exercise price of $0.236) 1,277,500 -Fully Diluted 25,562,585 Market capitalization (fully diluted) $8,946,905 Directors, officers, employees and consultants own 24.6% approximately (fully diluted) 6
Southwest Saskatchewan Base Map Relentless Resources Ltd. has successfully drilled its first 100% working interest horizontal well - Relentless Loverna HZ 3C12-5-2C10-6-31-28 W3M (well #1 on adjacent map). The well was drilled and production casing set to a measured depth of 1,395 meters after drilling a 582 meter horizontal section of Viking reservoir. The horizontal section of the Viking reservoir in the well will be completed using multi-stage fracturing after spring break-up. Relentless has a 100% working interest in 518 hectares (1,280 acres) of Viking P&NG rights that are prospective for the southwest Saskatchewan regional light oil resource Viking zone play which utilizes horizontal drilling and multi-stage fracturing technology. The lands directly offset an existing Viking light oil pool and the play has been validated by the first horizontal well. 7
Potential Impact of Drilling Horizontal Viking Oil Wells on Share Value Southwest Saskatchewan regional light oil resource Viking zone play that utilizes horizontal drilling and • multi-stage fracturing, as reported by industry, support average oil production rates over the first 30 days of production in the range of 40 to 80 bopd. The impact of oil production additions of this nature on the potential value of Relentless shares with • production valued at $100,000 per flowing barrel, are summarized below: Bbls of oil per day Potential Incremental Enterprise Value Potential Share Value Growth 40 bopd $4,000,000 $0.16 60 bopd $6,000,000 $0.24 80 bopd $8,000,000 $0.32 Based on recent industry sale metrics, the 11 development locations that are contingent upon the success • of the first two wells, will allow the potential production additions to be valued at a minimum of $100,000 per flowing barrel. 8
Current Production Properties Gas (mscf/d) Oil/NGL (bpd) Total (boe/d) Gordondale 142 3 26 Niton 50 2 10 Eyremore 22 - 4 Hays 4 1 2 Total 218 6 42 9
Corporate Information Auditors Banker BDO Canada LLP ATB Financial 620, 903 - 8th Avenue S.W. 239 8th Avenue S.W. Calgary, Alberta T2P 0P7 Calgary, Alberta T2P 1B9 Registrar and Transfer Agent Reserve Engineers Olympia Trust Company GLJ Petroleum Consultants Ltd. 2300, 125 - 9th Avenue S.W. 4100, 400 3rd Avenue S.W. Calgary, Alberta T2G 0P6 Calgary, Alberta T2P 4H2 Solicitor Stock Exchange Listing Davis LLP TSX Venture Exchange 1000, 250 -2nd Street S.W. TSX–V Trading Symbol: RRL Calgary, Alberta T2P 4V5 10
Contact Suite 855, 700-4 th Avenue S.W. Calgary, Alberta T2P 3J4 Tel 403-532-4466 Ext. 227 Fax 403-303-2503 dwilson@relentless-resources.com www.relentless-resources.com 11
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