Overview LARGE RESOURCES & LAND INNOVATION BREAKTHROUGH ENVIRONMENTAL LEADERSHIP CAPITAL EFFICIENCY (capital / environment / oil recovery) 3
Company Snapshot Proprietary extraction process Corporate Profile Small environmental footprint, no tailings ponds Calgary-based oil sands mining 20,000/bpd capital intensity, rapid payout company TSX Venture listed: USO Executing…
Extensive Land & Resource Base Largest oil sands land base in the U.S. PR Spring Project Area: 100% working interest in 5,930 acres Sproule assessment of 184 MMbbls Discovered Resource(1) Significant exploration lands 100% W.I. in…
Breakthrough Extraction Process Our process uses a biodegradable solvent extracted from citrus fruits US Oil Sands patented extraction process is one of the most important breakthroughs in mineable oil sands extraction techniques…
Game-Changing Benefits Economic Benefits Environmental Benefits Low threshold, payout in 2 years Smallest footprint of any oil sands mining Low Up Low cost; process eliminates pond water process Smallest Front handling, bitumen…
Superior Capital Efficiency Lowest capital intensity of any recent mining oil sands project even at small scale Non-Integrated Oil Sands Mining Projects Capital Efficiency (/bbl/d) 140,000 120,000 Athabasca average…
Concurrent Reclamation Year 1 Mine Opening Simultaneous mining and reclamation means land can be returned to its natural state in 4 6 years Year 2 Backfill A first in oil sands mining Commences USOs surface footprint is…
PR Spring Project Fully approved surface mine and Attractive Oil Sands Development development project in Utah Uinta Basin in Northeast Utah Large known resource Initial 2,000 bpd phase Estimated up to 30 Bbbls in place…
Commercial Demonstration Objectives Build 2,000 bpd demonstration project to prove the commerciality of the process Primary Success Measures Secondary Success Measures Prove its Game-changing w/no Show-stoppers Optimize Performance…
Proven, Permitted, Financed & Under Development Extensive pilot testing of extraction process Four prototypes ranging from 24 500 bpd, various ores tested Phase I approved by Utah Division of Oil, Gas and Mining Only commercial…
Project Implementation Schedule PR Spring Project - Phase I 2014 2015 2016 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Detailed Engineering Final Mine Plan Infrastructure Site Prep/Roads Equipment Procurement Water Tie-in…
Phased Production Growth Rapid build-up in phases Modular construction allows flexible development of various capacities Can be stand-alone, sequential or scaled-up Low capital threshold, 20,000/bpd of capacity 2,000 bpd…
Markets Crude quality 10-12 API, sweet, heavy crude Netbacks Coastal Highly suitable for heavy oil Crude Oil Price 105 / bbl(1) refineries Market options provide higher Heavy Differential 10 netbacks Transportation 13 40…
Robust Economics, Stable Cash Flow Significant, recurring cash flow Before Tax Cash Flow 1,400 1,200 1,000 800 (MM) 600 Payout of Effective payout of second project 400 first project 200 - (200) 2014 2015…
The Opportunity Example of stranded bitumen resources in Athabasca Hundreds of millions of barrels of mineable bitumen stranded in large pools too small for mega projects Canada, U.S., global Well suited for modular 10,000 bpd…
Experienced Leadership Management Team Experienced leader with over 30 years in oil, gas and oil sands development and operations, Cameron Todd most recently as Senior VP Operations, Refining and Marketing with Connacher Oil and Gas…
Strong Governance Board of Directors Verne Johnson, Chairman Mark Brown Chairman of Petromanas Energy Inc. and Co-founder, Seven Generations Energy Ltd. director of Gran Tierra Energy Inc. Previously Vice President, EPC of North…
Capitalization Ticker USO Exchange TSX Venture Basic Shares Outstanding 853.1 million Options 45.7 million (average exercise price of 0.20) Warrants Nil Fully Diluted 898.8 million Current Share Price(1) 0.12 52 week high (Sept.…
Conclusion USOs next generation solvent technology represents a paradigm shift in surface mineable oil sands economics and environmental impact Best-in-class capital efficiency, environmental footprint, oil recovery…
Appendix
Well-defined Resources 184 core holes provide strong well control Up to 2.5-acre spacing, 4,400 assays Multiple beds; combined thickness up to 100 Average 25 overburden, 515 wt% ore grade, average 10 wt% in planned pits Significant…
Planned Development Area 24
Plant Site Layout 25
Adaptation for Oil Wet Reservoirs Rock Athabasca oil sands are water wet Water Wet Oil Sands Sand grains enveloped by water, then by oil Clark process uses hot water to remove the oil Sand but hard to break oil-water-clay…
Extraction Process Flow Chart Separation Towers Bitumen/Fines/Water Feed Hopper Milled Ore from Mine Ore De-lumper Stockpile Rotating Drum Mixer Make-up Chemical Hot Water Extraction Chemical Bitumen Bitumen Clean…
Pilot Facilities 24 bpd shop demonstration unit in Grande Prairie, Alberta d-Limonene Rotating Drum Tricanter and Shale Shaker Storage Tank Mixer Control Panel Feed Hopper and Separation Water and Dilute De-lumper Vessels…
Shop Demonstration Unit Run 29
Cameron M. Todd Chief Executive Officer cameron.toddusoilsandsinc.com D. Glen Snarr President & Chief Financial Officer glen.snarrusoilsandsinc.com (403) 233-9366 www.usoilsandsinc.com
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