Corporate Presentation

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Corporate Presentation May 2007
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Corporate Info

• Trading Symbol BMX.A, BMX.B
• Shares Outstanding
• 21,349,821 Class A shares
• 1,012,000 Class B Shares
• 880,000 stock options
• Initial exploration focus - Peace River Arch
• Acquisition focus WCSB opportunistic
  concentrating on large oil/gas reserves in place
• Significant management investment
• directors, employees and key advisors total
  ownership gt 35

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Board of Directors

• Vincent Chahley Chairman, Independent
  Businessman
• Current Board Member of Anderson Energy Ltd.,
  Bear Ridge Resources Ltd., Pegasus Oil Gas,
  Range Royalty LP
• Scott Saxberg President and CEO, Crescent Point
  Energy Trust
• Current Board Member of Crescent Point Energy
  Trust, E4 Energy Inc.
• Keith MacDonald CEO, Venturion Natural Resources
  Ltd.
• Ex CEO of Monolith, Current Board Member of West
  Energy Ltd.
• Steve Moran President and CEO, Bellamont
  Exploration Ltd.

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Executive Management

• Steve Moran President, CEO Director, 21 years
  experience
• Previous experience with Big Echo, Monolith,
  Ulster, Anderson, Fletcher, Amoco, Dome
• Danny Geremia V.P Finance and CFO, C.A., 11
  years experience
• Previous experience with Mission, ARC Resources,
  KPMG
• Trevor Murphy V.P Engineering, 11 years
  experience
• Previous experience with Crescent Point Energy
  Trust, Devon, Anderson, Crestar
• Craig Thomas V.P Land, 11 years experience
• Previous experience with Espoir, Devon, Anderson
• Chris Birchard V.P Exploration, 11 years
  experience
• Previous experience with Key West, Espoir, Devon,
  Anderson

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May 29, 2007 Financing

• Bought deal private placement financing 10
  million Class A shares _at_1.00 per shares, raising
  gross proceeds of 10,000,000
• Members of management and board of directors
  subscribed for a combined 515,000 class A shares
  in the financing
• Funds to be used to accelerate drilling of
  Bellamonts 49 well prospect inventory, including
  its drilling program at Valhalla
• If deemed warranted by its board of directors, a
  portion of the proceeds may be allocated to fund
  future strategic acquisitions

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Bellamont Capital Structure

• Shares Outstanding
• 21,349,821 Class A shares
• 1,012,000 Class B shares
• 880,000 stock options (Class A shares
  _at_.30/share)
• Directors, employees and key advisors average
  cost per Class A share 0.81 per share
• All Bellamont management entered into a three
  year vesting agreement with respect to private
  placement in addition to the TSX escrow
  requirements

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Activity to Date

• 6 wells drilled plus one re-completion in last 18
  days of December 06
• 5 wells drilled in 07
• Drilling results to date
• 6 producing oil wells
• 2 gas wells awaiting tie in
• 1 completed oil well awaiting equipping
• 1 potential oil well awaiting completion
• 2 dry holes
• 83.3 success rate
• 22,796 gross acres, 16,556 undeveloped
• Forecasted 2007 Q2 Exit 175 boe/d

Cecil
Tangent
Valhalla Doe Creek Farm in
Spirit River
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2006 Year End Reserves
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2006 Year End Reserves (Continued)
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2006 FD Costs
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Bellamont Land and Prospect Inventory

• 22,796 gross acres, 16,556 undeveloped
• Average WI in undeveloped lands 86
• 90 operated
• Current prospect inventory of 49 locations
• Balanced portfolio of low-risk, high netback oil
  and higher risk, high reward impact plays

Valhalla Doe Creek Farm in
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Valhalla Area Farm in

• 4800 acre farm in on trend with 35km Doe Creek
  shoreface
• BMX to drill 15 wells to earn 100 WI reserving
  non-con ORR, and additional 25 bopd (7 drilled to
  date)
• Doe Creek I pool is one of the largest oil pools
  on the Peace River Arch with 63MM bbls, 20 Bcf
  produced to date (37 API)
• Lands are adjacent to current Doe Creek
  production and water flood

Farm in Lands
Current Doe Creek production
Doe Creek sand trend
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Large Oil in Place

• Offsetting Doe Creek I pools hold 80MM bbls OOIP,
  prod to date 8.1MM bbls, 1.5 Bcf
• Water flood initiated in 2002 and estimated
  ultimate recovery of 30MM bbls
• Farm-in lands hold 8MM bbls OOIP as mapped
• Bellamont gameplan is to drill wells to fully
  delineate farm-in lands and ultimately implement
  water flood.

Unit outlines
80MM bbls of oil in place
8MM bbls of OOIP
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Effectiveness of Water FloodDoe Creek Formation
is ideal for water flood thin permeable sand
encased in tight shale

• 95 of wells get back to IP rate or higher after
  flood
• Predictable water flood response

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Doe Creek Farmin Phase 1 Drilling Program

• Six delineation wells drilled and cased in Dec.
  2006 (avg. WI 95)
• Drill, case, complete, equip costs 465M/well
• Current Productive Capacity 90 bbl/d
• Northern wells should benefit from nearby
  injector wells
• Recent offset wells IP 40 bopd per well

Recent Anadarko wells
Closest injector
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Doe Creek Farmin2007 Phase 2 Drilling Program

• 13 wells are surveyed
• 8 wells planned for Summer/Fall of 2007
• Concentrate new locations closest to existing
  injectors and/or highest IP rates
• Holding in place for 200m interwell spacing

Phase 1 wells (drilled Dec. 2006)
Phase 2 locations
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Full Development Potential

• Implement water flood by converting 8 wells into
  injectors and drilling 1 water source well
• 30 producing wells in total
• Bellamont potential 750 bopd, gt 2.7MM bbls
  reserves
• 8 further step out locations possible (additional
  1.7MM bbls OOIP) on easternmost section

Step-out potential
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Valhalla Economic Summary
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Corporate Strategic Directives

• Focus on per share growth of cash flow,
  production and reserves.
• Actively in pursuit of accretive acquisitions of
  200-400 boe/d, taking advantage of strong balance
  sheet and emerging buyers market
• Building repeatable large oil/gas in place
  prospects which will allow us to increase our
  exposure to deeper, higher impact plays
• Establish management team name in capital markets

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• 200, 1324 17th Avenue SW
• Calgary, Alberta
• T2T 5S8
• Phone [phone]
• Fax [phone]
• www.bellamont.com
• Contacts
• Steve Moran Danny Geremia
• President, C.E.O Director Vice President,
  Finance and C.F.O .
• Phone [phone] Phone [phone]
• stevem_at_bellamont.com danny_at_bellamont.com

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Advisory

• Certain information set forth in this document
  contains forward-looking statements.
  Specifically, this presentation contains
  forward-looking statements relating to
  Managements approach to operations and
  expectations relating to expected production by
  Bellamont Exploration Ltd. Bellamont reserve
  life, working capital and debt. The reader is
  cautioned that assumptions used in the
  preparation of such information, although
  considered reasonable by Bellamont at the time
  of preparation, may prove to be incorrect. Actual
  results achieved during this period will vary
  from the information provided herein as a result
  of numerous known and unknown risks and
  uncertainties and other factors. Such factors
  include but are not limited to general economic,
  market and business conditions industry
  capacity competitive action by other companies
  fluctuations in oil and natural gas prices the
  ability to produce and transport crude oil and
  natural gas to market the result of exploration
  and development of drilling and related
  activities fluctuation in foreign currency
  exchange rates the imprecision of reserve
  estimates the taxes decisions or approvals of
  administrative tribunals change in environmental
  and other regulations risks associated with oil
  and natural gas operations and other factors,
  many of which are beyond the control of
  Bellamont. There is no representation by
  Bellamont that actual results achieved during
  the forecast period will be the same in whole or
  in part as those forecast.