Resources                        Oil, gas, heavy oil
Gross Acreage                  ~46,000 (Phase 1 - earned interest with an overall total of ~345,000 exclusive                                                opportunity to earn)
Working Interest              100%
Status                                 Signed joint venture agreement in Q4 2008 to develop identified oil
                                            and gas projects

• CREEnergy recognizes that the value of the relationship comes from success and has not restricted the land selections, other than traditional significance and community commercial and residential lands

• Geological prospects include a range of conventional oil and natural gas reservoirs from approximately 400 meters to 1,800 meters (1,300 feet to 5,900 feet) in depth and shallower heavy oil reservoirs

Resources                        Shale Gas
Gross Acreage                  ~1,920
Working Interest              80%
Status                                  2 wells drilled and cased; proposed work program of Phase I -- perform a
                                            vertical frac on one well, tie-in and production test; upon successful
                                            of Phase 1, implement Phase II -- drill a horizontal leg from the second well
                                            and perform a staged horizontal frac

• Substantial long term upside through developing a high impact Muskwa/Evie shale gas play

• Close to existing infrastructure -- pipeline, roads

• Estimated 123 Bcf of gas in place and 60m pay zone, according to engineering report