Eagle Rock Exploration Ltd

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Eagle Rock Exploration Ltd

• CORPORATE OVERVIEW
• ( JANUARY 2008 )

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OVERVIEW

• TSX V EXCHANGE SINCE FEB 2006 ERX.
• SHARES OUTSTANDING
• BASIC 54,001,392
• FULLY DILUTED 57,987,725
• OWNERSHIP BY MANAGEMENT DIRECTORS
• BASIC 7.4
• FULLY DILUTED 13.8
• FOCUS AREAS
• SOUTHWEST SASKATCHEWAN
• SOUTH CENTRAL 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.

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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
• 19 YEARS INDUSTRY EXPERIENCE WITH VARIOUS JUNIOR
  AND SENIOR PRODUCERS.
• LEIGH STEWART, LLB CORPORATE SECRETARY

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CAPITALIZATION

• BASIC 54,001,392
• FUNDS RAISED TO DATE (0.25 TO 1.30 PER
  SHARE) 16,500,000
• AVERAGE PRICE INCLUDING FLOW THROUGH
  0.64
• OPTIONS
• REGULAR OPTIONS (0.25 - 0.75 EXPIRE 2010
  2011) 3,486,333
• PERFORMACE OPTIONS (1.30 EXPIRE 2011)
  500,000
• FULLY DILUTED 57,987,725

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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.
• TO ASSEMBLE AN EXPANDING PORTFOLIO OF EXPLORATION
  AND DEVELOPMENT DRILLING OPPORTUNITIES (ie.
  Enchant Whitecourt)
• FOCUS ON EXPLORATION AND DEVELOPMENT IN AREAS
  WITH YEAR ROUND ACCESS.
• ERX IS WELL POSITIONED TO INCREASE VALUE AT ONE
  OF ITS MAJOR PROPERTIES BASED ON THE CAPITAL
  INVESTMENTS ON FACILITIES AT RED COULEE WHERE
  EACH NEW SUCCESSFUL DRILL WILL ADD AN INCREMENTAL
  RATE OF RETURN WITH INCREASED PRODUCTION,
  RESERVES AND LOWER OPERATING COSTS.
• A GREATER EMPHASIS IN 2008 WILL BE PLACED ON
  STRATEGIC ACQUISITIONS AND DIVERSIFICATION
  THROUGH FARM-INS ON FREEHOLD LANDS.

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CORPORATE PRODUCTION PROFILE
Average quarterly production Boe/d
ACTUAL ESTIMATE
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SUMMARY OF RESERVES GLJ DEC 31, 2006
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ANTELOPE LAKE SW SASK.NEW MULTI-ZONE OIL FIELD

• 5120 Acres gross (1720 net)
• 27 producing wells
• 4 producing pay zones
• Depth 1100 meters
• Eagle Rocks share 33.6
• Approx 280 bbls/d (net)
• 100 ERX
• 2,400 acres
• 1 dry hole in Aug 2007 in section 7
• Multiple additional locations to drill
• Approx 20 bbls/d

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ANTELOPE LAKE DAILY PRODUCTION (NET)
Dec 06 reserves 526 mboe Proven 809 mboe Proven
Probable
Dec 06
Dec 07
Aug 08 PAYOUT
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 22,410 Acres

• RED COULEE (100 WI)
• 11520 Acres 3D Seismic, multi zone potential.
• Currently producing approx 325 bbls/d.
• 20 development locations identified by 3D Seismic
  - 40 acre spacing
• Future opportunity to down space to 20 acre
  spacing
• 9 Successful wells drilled in 2007.
• 10-12,000 bbls/d battery (expandable to 60,000)
• 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)
• 3840 Acres
• 3D Seismic in fall 2007

Verdigris
3D Seismic
Sunburst
Red Coulee
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WHITECOURT
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ENCHANT
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ALBERTA CAPITAL PLAN TO DATE

• CAPITAL INVESTMENT IN 2007 OF 10,100 MILLION
• CURRENT PRODUCTION OF 300 BBLS/D
• NETBACK IN Q3 2007 OF 50.00/BBL
• Q3 2007 OPERATING COST 14.50/BBL
• EXPECTED CASH FLOW OF 350,000 PER MONTH

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MISSISSIPPIAN (RUNDLE) TREND MAP
REAGAN
SUNBURST
RED COULEE
DEL BONITA
SWEETGRASS ARCH
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MONTANA ANALOG RUNDLE POOLS
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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