US Oil Sands Inc. Large Innovation Resources & Breakthrough Lands Changing the Way Oil Sands Capital Environmental Bitumen is Extracted Efficiency Leadership (capital / environment / oil recovery) 3
Overview Focused on executing initial Utah project Fully-funded 2,000 bpd commercial demonstration unit First-oil in 2015 Scale-up to 10,000 bpd module in Utah Economic…
Corporate Snapshot Corporate Profile Map of Operations Calgary-based oil sands mining company TSX Venture listed: USO Market capitalization C130MM(1) C78MM in treasury no debt(1) Significant technology and resource development…
Experienced Leadership Management Team Experienced leader with over 30 years in oil, gas and oil sands development and operations, most recently as Senior VP Operations, Refining and Marketing with Cameron Todd Connacher Oil and…
Strong Governance Board of Directors Verne Johnson Chairman of Petromanas Energy Inc. and director of Gran Tierra Energy Inc. Chairman Former CEO of ELAN Energy Inc. Ronald Pantin CEO and Executive Director of Pacific Rubiales…
Breakthrough Extraction Process Addition of renewable biodegradable solvent simplifies existing processes 96% Bitumen recovery 0 Eliminates tailings ponds 75% Reduction in capital intensity 98% Solvent recycle 95% Immediate…
Game-Changing Benefits Economic Benefits Environmental Benefits Low threshold, payout in 2 years Smallest footprint of any oil sands mining Low Up Low costs because process eliminates process Smallest Front need for pond water…
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 the 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…
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…
Well-defined Resources 184 core holes provide strong well control Minimum 40-acre spacing Phase 1 mine site 2.5-acre spacing More than 4,400 assays Multiple bitumen beds with combined thickness up to 100 ft Average 25 ft…
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…
Proven, Permitted, Financed & Under Development Extensive pilot testing of extraction process Four prototypes ranging from 24 500 bpd, various ores tested Phase 1 approved by Utah Division of Oil, Gas and Mining Only commercial…
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 1,600 1,400 1,200 1,000 800 (MM) 600 Payout of second project 400 Payout of first project 200 0 -200 2014 2015 2016…
Global Resource Potential Known global bitumen and extra-heavy oil resources Natural Bitumen and Extra-Heavy Oil: Resources at end-2008 Country Deposits Discovered Prospective Total PIIP Additional PIIP Resources MMbbls Canada…
Appendices
PR Spring Project Resource 21
Planned Development Area 22
Implementation Schedule PR Spring Project - Phase 1 23
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 but hard to break oil-water-clay suspensions /…
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…
Capitalization Ticker USO Exchange TSX Venture Basic Shares Outstanding 853.1 million Options 43.7 million (average exercise price of 0.21) Warrants 61.2 million (average exercise price of 0.26) Fully Diluted 958.1 million…
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 28
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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