Excelsior Energy Limited (“Excelsior”) is a publicly listed company focused on development of oil sands resources in the Athabasca oil sands region in northern Alberta, Canada using in situ recovery methods. Through its 75% owned subsidiary ENS Energy Limited (“ENS”), Excelsior is also active in oil and gas exploration and appraisal in the United Kingdom Continental Shelf (“UKCS”).

QUALITY ASSETS, KEY LOCATIONS

  • Operator of 58 sections of prime Athabasca oil sands assets in the Hangingstone (75% working interest) and West Surmont (64.3% working interest) areas south of Fort McMurray in a key area for in situ bitumen recovery.
  • Operated lands are close to a number of producing Steam Assisted Gravity Drainage (“SAGD”) projects.
  • Close proximity of industry and utility infrastructure drives cycle time and capital efficiency.
  • ENS holds two licences in the UKCS. ENS provides upside potential through appraisal of an oil discovery close to existing infrastructure.

GROWING RESOURCE POTENTIAL, TECHNOLOGY INNOVATION

  • McDaniel & Associates Consultants Ltd. (“McDaniels”), independent reservoir engineers, assigned contingent recoverable resource in the range of 183 million barrels (best case) – 250 million barrels (high case) based on proven in situ SAGD technology at July 31, 2009.
  • Over 2 billion barrels of bitumen in place at July 31, 2009, assigned by McDaniels, provides large upside potential for delineation and development. Potential for between 50,000 and 80,000 barrels of bitumen per day from Hangingstone property.
  • Enhanced potential for increased recovery using a proprietary in situ combustion technology – Combustion Overhead Gravity Drainage (“COGD”):
    • Water and gas use greatly reduced.
    • Significant decrease in capital and operating costs.
    • Drives economic viability as low as $40-$45 per barrel WTI.
  • Company submitted an experimental pilot application to Alberta Environment (AENV) and Alberta Energy, Resource and Conservation Board (ERCB) in June 2009. The pilot is designed for up to 1,000 bopd to test and demonstrate Excelsior's COGD technology.
  • Company has filed for patent on the proprietary part of the COGD technology.

EXPERIENCED, PROVEN LEADERSHIP

  • Very experienced management team with extensive expertise gained operating large scale projects in North America and internationally, including thermal and cold flow heavy oil appraisal and development.
  • A Board of Directors with diverse experience and expertise in building companies and creating value in public markets.
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