Eagle Rock Exploration Ltd

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Eagle Rock Exploration Ltd

• CORPORATE OVERVIEW
• ( SEPTEMBER 2007 )

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OVERVIEW

• TSX V EXCHANGE SINCE FEB 2006 ERX.
• SHARES OUTSTANDING
• BASIC 39,662,392
• FULLY DILUTED 43,338,726
• OWNERSHIP BY MANAGEMENT DIRECTORS
• BASIC 11
• FULLY DILUTED 17
• FOCUS AREAS
• SOUTHWEST SASKATCHEWAN
• SOUTHERN ALBERTA

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DIRECTORS

• RAY MACK, FCA CHAIRMAN
• PARTNER AT KENWAY MACK SLUSARCHUK STEWART, LLP
  CHARTERED ACCOUNTANTS.
• CHAIRMAN DFK INTERNATIONAL, A GLOBAL NETWORK OF
  ACCOUNTING FIRMS.
• TIBOR FEKETE, P. ENG
• FOUNDER OF T. FEKETE AND ASSOCIATES INC., A
  LEADING RESERVOIR ENGINEERING FIRM IN CALGARY,
  AB.
• SAT ON NUMEROUS PUBLIC AND PRIAVE COMPANY BOARDS.
• JACK MCMANUS, P. GEOL
• FORMER PRESIDENT AND CEO OF ZEPHYR RESOURCES
  LTD., VERO RESOURCES LTD AND TUSCANY ENERGY LTD.
• OVER 40 YEARS EXPERIENCE WITH BOTH PRIVATE AND
  PUBLIC COMPANIES.
• JOHN TOMANEK, CGA
• FORMER VICE-PRESIDENT, FINANCE CFO, PREDATOR
  EXPLORATION LTD.
• PARTNER AT MCALLISTER TOMANEK COMPANY.
• JIM SILYE, BA PRESIDENT CEO
• FORMER PRESIDENT CEO, PREDATOR EXPLORATION
• FORMER OWNER/PRESIDENT WESTERN SEISMIC EXCHANGE
  LTD.
• FOUNDING DIRECTOR OF STAMPEDER EXPLORATION LTD.,
  COMMAND DRILLING LTD. AND REQUEST SEISMIC SURVEYS
  LTD.
• FEDERAL MEMBER OF PARLIAMENT FOR CALGARY CENTRE
  (1993 1997)
• ERIC TREMBLAY, B. ENG
• CEO OF ASTON HILL FINANCIAL

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OFFICERS

• JIM SILYE, BA FOUNDING PRESIDENT CEO
• FORMER PRESIDENT CEO, PREDATOR EXPLORATION
• FORMER OWNER/PRESIDENT WESTERN SEISMIC EXCHANGE
  LTD.
• FOUNDING DIRECTOR OF STAMPEDER EXPLORATION LTD.,
  COMMAND DRILLING LTD. AND REQUEST SEISMIC SURVEYS
  LTD.
• FEDERAL MEMBER OF PARLIAMENT FOR CALGARY CENTRE
  (1993 1997)
• JOHN ANDRIUK, BSc, P. GEOL FOUNDING
  VICE-PRESIDENT COO
• FORMER PRESIDENT COO OF VOYAGER ENERGY INC. AND
  EXCEL ENERGY INC.
• FORMER SENIOR VICE-PRESIDENT OF DOME PETROLEUM
  (1965 1988)
• STEVEN GLOVER, FCA VICE-PRESIDENT FINANCE CFO
• FORMER VICE-PRESIDENT OF FINANCE AT VALIANT
  ENERGY INC.
• FORMER CEO OF THE INSTITUTE OF CHARTERED
  ACCOUNTANTS OF ALBERTA (1983 2005)
• RON CHAPMAN, P. ENG VICE-PRESIDENT , ENGINEERING
• FORMER COO CO FOUNDER OF SWORD ENERGY LIMITED
• 18 YEARS INDUSTRY EXPERIENCE WITH VARIOUS JUNIOR
  AND SENIOR PRODUCERS.
• LEIGH STEWART, LLB CORPORATE SECRETARY
• LEGAL FIRM OF GOWLING LAFLEUR HENDERSON LLP.

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CAPITALIZATION

• BASIC 39,662,393
• FUNDS RAISED (0.25 TO 1.30 PER
  SHARE) 12,800,000
• 23 INSTITUTIONAL
• 30 RETAIL
• 47 HIGH NET WORTH
• OPTIONS
• REGULAR OPTIONS (0.25 - 0.75 EXPIRE 2010
  2011) 3,176,333
• PERFORMACE OPTIONS (1.30 EXPIRE 2011)
  500,000
• FULLY DILUTED 43,338,726

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BUSINESS STRATEGY

• TO GROW RESERVES AND PRODUCTION THROUGH A
  COMBINATION OF LOW TO MEDIUM RISK DRILLING,
  STRATEGIC ACQUISITIONS AND INDUSTRY ALLIANCES.
• FOCUS ON EXPLORATION AND DEVELOPMENT IN AREAS
  WITH ROUND YEAR ACCESS.

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CORPORATE PRODUCTION PROFILE
ACTUAL ESTIMATE
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SUMMARY OF RESERVES AND VALUES (DEC 31, 2006)
As per GLJ Petroleum Consultants
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ANTELOPE LAKE SW SASK.NEW MULTI-ZONE OIL FIELD

• 5120 Acres gross (1720 net)
• 22 producing wells
• 4 producing pay zones
• Depth 1100 meters
• Eagle Rocks share 33.6
• Approx 300 bbls/d (net)
• 100 ERX
• 2,400 acres
• 1 dry hole in Aug 2007
• 2 additional locations to drill

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ANTELOPE LAKE DAILY PRODUCTION (NET)
Dec 06 reserves 526 mboe P 809 mboe PP
June 2010 315,000 cumulative bbls 60 of Proven
Reserves
Dec 06
Dec 07
Aug 08 Payout 217 mboe, 41 of P
Dec 08
Dec 09
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ANTELOPE LAKE ECONOMICS
F D costs under 8/bbl
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SOUTHERN ALBERTA (COUTTS)

• COUTTS
• ERX operated (89 WI)
• 9600 Acres gross (8544 net)
• Multi zone potential covered by 3-D seismic
• Currently producing approx 75bbls/d

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SOUTHERN ALBERTA (RED COULEE)

• ERX OPERATED
• 16,000 Acres
• RED COULEE (100 WI)
• 7690 Acres 3D Seismic, multi zone potential.
• 10-12,000 bbls/d battery (expandable to 60,000)
• Currently producing approx 250 bbls/d.
• 20 development locations identified by 3D Seismic
  - 40 acre spacing
• Future opportunity to down space to 20 acre
  spacing
• 6 Successful wells drilled in 2007.
• VERDIGRIS (98 WI)
• 3,200 Acres (3,136 net 3D Seismic
• Bow Island Rundle potential.
• Standing Bow Island gas well (tested 1.6 mmcf/d)
• SUNBURST (100 WI)
• 1280 Acres
• To be evaluated

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ALBERTA CAPITAL PLAN TO DATE

• CAPITAL INVESTMENT TO DATE OF 11 MILLION
• CURRENT PRODUCTION OF 325 BBLS/D
• INCLUDES 4 MM FOR BATTERY AND PIPELINES
• NETBACK IN JUNE 2007 OF 41.69/BBL
• CURRENT OPERATING COST 20.00/BBL
• CASH FLOW OF 350,000 PER MONTH FROM THIS FIELD

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SOUTHERN ALBERTA OPPORTUNITY
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SOUTHERN ALBERTA OPPORTUNITY
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MONTANA ANALOG RUNDLE WELLS (5 WELLS)

• Initial production 491bbl/d (98 bbl/d/well) oil.
• Cumulative production 432 mstb (86 mstb/well) oil
• Average oil cut 2.2
• First year oil cut 5.2
• Average total fluid/well 1500 bbl/d

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ALBERTA PRODUCTION
Assume 50 bbl/d per new well
Dec 06
Dec 07
Dec 08
Dec 09
Dec 10 Payout
Jan 06
June 09
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COUTTS/RED COULEE ECONOMIC PAYOUT
Dec 10 Payout
Jan 06
Dec 06
Sept 07
Dec 07
Dec 08
Dec 09
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SUMMARY
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FORWARD LOOKING STATEMENTS

• DISCLAIMER
• This disclosure contains certain forward looking
  statements that involve substantial known and
  unknown risks and uncertainties, certain of which
  are beyond Eagle Rock Exploration Ltd. (Eagle
  Rock) control, including the impact of general
  economic conditions in Canada and the United
  States, industry conditions, changes in laws and
  regulations including the adoption of new
  environmental laws and regulations and changes in
  how they are interpreted and enforced, increased
  competition, the lack of availability of
  qualified personnel or management, fluctuations
  in foreign exchange or interest rates, stock
  market volatility and mark valuations of
  companies with respect to announced transactions
  and the final valuation thereof , and obtaining
  required approvals of regulatory authorities.
  Eagle Rocks actual results, performance,
  locations, working interest or achievement could
  differ materially from those expressed in, or
  implied by, these forward looking statements and,
  accordingly, no assurances can be given that any
  of the events anticipated by the forward looking
  statements will transpire or occur, or if any of
  them do so , what benefits, including the amount
  of proceeds, that Eagle Rock will derive there
  from.

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CONTACT INFORMATION