Bubble Point Technology

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Bubble Point Technology Energy Resource
Plays May 2009 (All values expressed in USD)
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FORWARD LOOKING STATEMENTS

• In addition to historical information, our
  presentation materials include certain
  forward-looking statements about the Companys
  future performance, growth opportunities,
  outlook, plans, alternatives, strategies,
  expectations and objectives. These statements
  are based on certain assumptions and analyses
  made by the Companys management in light of its
  experience and its perception of historical
  trends, current conditions, expected future
  developments and other factors it believes are
  appropriate under the circumstances. Such
  forward-looking statements are subject to
  uncertainties that could cause the Companys
  actual results to differ materially from such
  statements. Such uncertainties include but are
  not limited to volatility of the oil and gas
  industry, including the level of exploration,
  production and development activity risks of the
  Companys growth strategy, including the risks of
  rapid growth and the risks inherent in acquiring
  businesses and/or assets changes in competitive
  factors affecting the Companys business
  operations operating hazards, including the
  significant possibility of accidents resulting in
  personal injury, property damage or environmental
  matters the Companys dependence on certain
  customers and the potential shortage of skilled
  workers. Although the Company believes that the
  expectations reflected in such forward-looking
  statements are reasonable, it can give no
  assurance that such expectations will prove to be
  correct. You are cautioned not to place undue
  reliance on these forward-looking statements,
  which speak only as of the date hereof. The
  Company undertakes no obligation to update any of
  its forward-looking statements except as required
  by law.
• Note Regarding Reserves Data and Other Oil and
  Gas Information
•  
• National Instrument 51-101 Standards of
  Disclosure for Oil Gas Activities (NI 51-101)
  imposes oil and gas disclosure standards for
  Canadian public companies engaged in oil and gas
  activities. We have provided the reserves data
  and other oil and gas information included in
  this presentation in accordance with NI 51-101
  and may differ from the corresponding information
  prepared in accordance with U.S. disclosure
  requirements, such as the inclusion of "probable
  reserves" and the NPV 10 value of reserves based
  on forecast prices. Further information about the
  differences between the U.S. requirements and the
  NI 51-101 requirements is set forth under the
  heading Note Regarding Reserves Data and Other
  Oil and Gas Information in the Companys Form
  40-F filed with the U.S Securities and Exchange
  Commission on June 16, 2008.
•  

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PETROFLOW CORPORATE PROFILE1
1 all values herein are USD
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PETROFLOW Hunton Resource Play

• 16 million acres (areal extent)
• 6.2 Tcfe resource potential _at_ 10 development
• Aggregate production for the area - 170,000
  mcfe/d
• (production approximately 60 gas, 20 oil and
  20 NGLs)
• 250 wells drilled to date using Bubble Point
  Technology (10 year well history)

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PETROFLOW Bubble Point Technology
RESOURCE CHARACTERISTIC
KEYS TO DEVELOPMENT

• Primary form of recovery
  Horizontal drilling dual lateral
• High solution gas content Rapid
  dewatering
• within residual oil
  Predictable production curves
• Extensive oil transition zone
• Bubble Point Technology is repeatable in other
  resource plays

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PETROFLOW Typical Hunton AMI Well Economics
GROSS WELL PARAMETERS

• Well depth 4,500 6,500
• Gross cost per well1 2.1 MM
• Gross historical reserves per well 2.5 Bcfe
• Gross peak production rate 1,050 Mcfe/d
  (175 Boe/d)
• Dewatering rate to peak production 3 - 12
  months
• Estimated cost savings going forward 30
• Estimated working interest 56
• Estimated net revenue interest 44
• ¹ includes allocation of infrastructure costs
  estimated to be 300,000/well

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PETROFLOW HUNTON Type Curve
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PETROFLOW Hunton Estimated Ultimate Recovery
(EUR) Distribution
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PETROFLOW Typical Hunton AMI Well Economics
WELLHEAD DIFFERENTIALS

• Natural Gas 92 of HH1
• Oil WTI - 0.39
• ¹ Includes value of NGLs contract terms

PETROFLOW PROJECTED COST STRUCTURE

• Net WI
• LOE (3 year) 1.45 / Mcfe 1.15 / Mcfe
• Finding costs 1.53 / Mcfe 1.20 / Mcfe

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PETROFLOW Typical Hunton AMI Well Economics
Project Returns
PV-10 - MM
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PETROFLOW HUNTON PRESENCE Phase 1 Inside
the AMI
111 poolable locationswithin the AMI as
ofFebruary 2009

• 68 wells drilled to-date in the AMI 62
  producing wells
• 4 salt water disposal (SWD) wells
  
• 2 wells drilled to-date outside the AMI 1
  producing 1 SWD
• 1 SWD can accommodate 12 producing wells, on
  average

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PETROFLOW HUNTON EXPANSION Phase 2 Outside
the AMI
WELLHEAD DIFFERENTIALS

• New project areas (outside AMI currently)
  4
• Land acquisition - new project areas 2
• - acreage owned 8,000
• - potential drilling locations 27
• Improved economics versus AMI 25
• New project areas - active in 18 months 5
• Targeted locations outside the AMI 100
• 1 rig is capable of drilling up to 10 wells per
  year

PROGRESS OUTSIDE THE AMI IN 2009 1
production well 1 salt water disposal well

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PETROFLOW An Investment

• Total proved reserves of 18.2 million boe1,3
• March daily peak production of 4,089 boe
  (24,534 mcfe)
• Total proved PV-10 value of 173 million
  flat1Total proved PV-10 value 400 million
  forecast2
• 60 natural gas, 40 oil / liquids (liquids
  rich gas, averaging 1200 mmbtu per
  mcf)
• 42, 000 leased acres undeveloped within the
  AMI

¹ as of 12/31/2008 Haas Petroleum Engineering
Report (flat price scenario) 2 as of 12/31/2008
Haas Petroleum Engineering Report (forecast price
scenario)3BOEs derived by converting gas to oil
in the ratio of six thousand cubic feet of gas to
one barrel of oil (6 Mcf 1 bbl). BOEs 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.
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PETROFLOW Quantitative Evidence of Execution
QUARTERLY PRODUCTION CURRENT DAILY PRODUCTION
(BOE/D)
4,0892
95 per Annum Growth (2 Year)
3,1851
3,1941
¹ average Q4 2008 production , 2 current daily
production as of March 24, 2009
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PETROFLOW December 31, 2008 Reserve Data

• ¹ as of 12/31/2008 Haas Petroleum Engineering
  Report (flat price scenario)
• 2 as of 12/31/2008 Haas Petroleum Engineering
  Report (forecast price scenario)

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PETROFLOW Discounted share price to reserve
valuation
Net Asset Value (millions) Flat 1
Forecast 2
Total Proved Reserves

173 400
Total Proved Probable Reserves 202
492



Total Debt (12.31.08) (103.3) (103.3)
)
Working Capital (12.31.08) (12.7
(12.7)

Shares Outstanding 29.6 34.1

NAV / SHARE (Proved Reserves)
1.93 8.59

NAV / SHARE (Proved Probable)
2.91 11.29

• Current share price 1.04
  1.04
• discount to total proved reserves NAV
  46 88
• Current share price 1.04
  1.04discount to total provedprobable
  reserves NAV 64 90

¹ as of 12/31/2008 Haas Petroleum Engineering
Report (Flat Price scenario)2 as of 12/31/2008
Haas Petroleum Engineering Report (Forecast Price
scenario) (NI 51-101 Standard)
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PETROFLOW An Investment

• Management with experience and measureable
  success
• Management team that holds 17 of common shares
• Trading at a significant discount to NAV
• 45 of our banks projected production for 2009
  through to March 2011 is sheltered by hedges
• Top quartile economics low operating cost high
  netback 2008 netback at 29.24 / boe
• Proven technology - reproducible in many
  locations

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PETROFLOW Senior Management Team
A Chartered Accountant with 33 years experience
in the energy industry. Management history that
includes a role as President of Macon Resources
Ltd. As CFO, Duncan ensures compliance to a
strong code of business ethics. His skill as the
financial leader at Petroflow enables the Company
to plan and execute its growth strategies.
Over 42 years of industry experience. An
Engineer with a Master of Science Degree and a
graduate of the Harvard School of Business (OPM).
Over 20 years as an executive, providing the
vision and leadership needed to take the Company
from start-up through the many phases of growth
and expansion.John excels at securing the best
talent for his team and his shareholders.
Over 20 years experience in corporate
governance, acquisitions / divestitures,
litigation/risk management , insurance and human
resource management. In addition to his
expertise in corporate law, Louis has
considerable experience in land management. As
Lead Counsel and Land Manager, Louis guides
Petroflow through the challenges of growth and
expansion and positions the Company securely for
the future.
A Petroleum Engineer with 30 years experience
10 of those years at an executive level as Chief
Operating Officer. Management experience
included a coal bed methane operation that
produced over 100 million cubic feet of gas per
day. Sandy provides technical direction and
leadership to Petroflows operations.
A Professional Engineer with close to 30 years
experience. Management experience that includes
Exxon Mobile and Hibernia National
Bank. Combining his expertise in resource plays,
reservoir engineering and energy finance, Kevin
has the depth of knowledge to lead Petroflows
business development.
Over 26 years of industry experience. Sally is
a Certified Public Accountant and a graduate of
Louisiana State University.
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PETROFLOW Milestones

• March 2009 Borrowing base updated - 110
  Million
• 2008 Concluded a JV to expand presence in the
  Hunton Play
• 2008 200 million Banking Facility Secured
• (110 million borrowing base)
• 2008 Sold San Juan Basin property for 100
  profit
• 2006 Acquired Hunton Resource Play in Oklahoma
• 2005 Acquired San Juan Basin CBM West Texas
  properties
• 2005 Petroflow Energy Ltd. is formed

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PETROFLOW CONTACT US
Mr. John Melton Chief Executive
Officer Office 985.796.8080 Fax
985.796.9488
Duncan Moodie Chief Financial Officer Office 40
3.539.4320 Fax [phone]
www.petroflowenergy.com
Auditors Reserves
Engineers Price Waterhouse Coopers LLP Haas
Petroleum Engineering Services, Inc
(Dallas) Banking Institutions Legal
Councel Texas Capital Bank (Houston) Hogan
Hartson (USA) Guaranty Bank (Houston)
Gowling Lafleur Henderson LLP (Canada) National
Bank of Canada (Calgary)