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TSX.V: EM

TSX.V: EM “The future is Energy” 1
TSX.V: EM “The future is Energy” 1

“The future is Energy”

TSX.V: EM “The future is Energy” 1

Disclaimer

The material contained in this presentation is provided solely for your general knowledge and is not intended to be a comprehensive review of all matters and developments concerning Emperor Oil Ltd. (“Emperor Oil”). Emperor Oil has taken all reasonable care in producing the information contained in this presentation. This information may still contain technical or other inaccuracies, omissions, or typographical errors, for which Emperor Oil assumes no responsibility. Emperor Oil makes no representation or warranty regarding, and assumes no responsibility for, the use, validity, accuracy, completeness, reliability or currency of any claims, statements or information in this presentation.

Emperor Oil and its affiliates, subsidiaries, directors, agents, officers, advisers or employees do not make any representation or warranty, express or implied, as to or endorsement of, the accuracy or completeness of any information, statements, representations or forecasts contained in this presentation, and they do not accept any liability or responsibility for any statement made in, or omitted from, this presentation. The forward-looking statements or information contained in this presentation are made as of the date hereof and Emperor Oil undertakes no obligation to correct or update anything in this presentation or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise unless required by applicable securities laws. The forward-looking statements or information contained in this presentation are expressly qualified by this cautionary statement. No responsibility or liability is accepted and any and all responsibility and liability is expressly disclaimed by Emperor Oil and its affiliates,

subsidiaries, directors, agents, officers, advisers and employees for any errors, misstatements, misrepresentations in or omissions from this presentation.

Prospective investors should make their own independent evaluation of an investment in Emperor Oil.

Forward-Looking Information

Certain information in this presentation may constitute "forward-looking" information which involves known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of Emperor Oil, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. When used in this presentation, such information uses words such as "may", "will", "could", "would", "expect", "believe", "plan", "intend" and other similar terminology. Forward-looking information involves significant risks and uncertainties, should not be read as a guarantee of future performance or results, and will not necessarily be an accurate indication of whether or not such results will be achieved and accordingly undue reliance should not be put on such statement. Although the forward-looking information contained in this presentation is based upon what management of Emperor Oil believes are reasonable assumptions, Emperor Oil cannot assure readers that actual results will be consistent with the forward-looking information. In particular, this presentation contains forward-looking information pertaining to the following: business strategy and

objectives, the treatment of Emperor Oil under regulatory regimes and laws; drilling and completion of wells, facilities costs and the timing and method of funding thereof; timing of development of undeveloped

reserves and resources; Emperor Oil's estimated oil and natural gas production levels; the future performance and characteristics of Emperor Oil's oil and natural gas properties; reserve estimates; projections of market prices and costs; supply and demand for oil and natural gas; expectations regarding the ability to raise capital and to continually add to reserves through acquisitions, exploration and development activities; net revenue, cash flow, debt levels, future capital expenditure programs and the timing and method of financing, royalty rates and taxes. Readers are cautioned that the foregoing list is not exhaustive of all forward- looking information which has been used.

Forward-looking statements or information are based on a number of factors and assumptions which have been used to develop such statements and information but which may prove to be incorrect. With respect to forward-looking information contained in this presentation, Emperor Oil has made assumptions regarding, among other things: future prices for oil and natural gas; future currency and interest rates; stability of economic and political environment, timely receipt of regulatory approvals; timing and costs of pipeline storage and facility construction and expansion and ability of Emperor Oil to secure product transportation; Emperor Oil's ability to generate sufficient cash flow from operations, access to debt and/or equity financing to meet its future obligations; the regulatory framework in Turkey and Sudan in which Emperor Oil expects to conduct its business; ability of Emperor Oil to successfully market its oil and gas products; and Emperor Oil's ability to obtain qualified staff and equipment in a timely and cost-efficient manner to meet Emperor Oil's demand. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which have been used.

The actual results could differ materially from those anticipated in this forward-looking information as a result of the risk factors set forth below and elsewhere in this presentation: volatility in market prices for oil and

natural gas; the potential for the return of conditions persisting during the recent global crisis and economic downturn; liabilities inherent in oil and gas operations; uncertainties associated with estimating oil and natural gas reserves; competition for, among other things, capital, acquisitions of reserves, undeveloped lands and skilled personnel; incorrect assessments of the value of acquisitions; geological, technical, drilling and processing problems; fluctuations in foreign exchange or interest rates and stock market volatility; changes in the regulations or laws or application thereof by the Government of Turkey or Sudan; business plans and strategies; capital expenditure programs and the timing and method of financing thereof; the ability of Emperor Oil to achieve drilling success consistent with management's expectations; operating costs; net present values of future net revenues from reserves; future production levels of the Emperor Oil's assets; timing and bringing on production; expected plans and costs of drilling; drilling inventory and presence of oil pools or gas accumulations; health, safety and environmental risks; uncertainty as to the availability and cost of financing; projections of costs; supply and demand for oil and natural gas; ability and cost of increasing plant capacity; expected levels of royalty rates, operating costs, general and administrative costs, cost of services and other costs and expenses; and expectations regarding the ability to raise capital and to continually add to reserves through acquisitions, exploration and development. Readers are cautioned that the foregoing list is not exhaustive of all possible risks and uncertainties which have been used.

Disclaimer

Barrel of Oil Equivalent Disclosure provided herein in respect of BOEs may be misleading, particularly in isolation. Where amounts are expressed on a barrel of oil equivalent (“BOE”) basis, natural gas volumes have been converted to a BOE at a ratio of 6,000 cubic feet of natural gas to one barrel of oil equivalent. This conversion ratio is based upon an energy equivalent conversion method primarily applicable at the burner tip and does not represent value equivalence at the wellhead. Information relating to "reserves" is deemed to be forward-looking information, as it involves the implied assessment, based on certain estimates and assumptions about the profitable production of the reserves described.

United States Legal Disclaimer This presentation does not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act') or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of U.S. persons (as such term is defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or unless an exemption from such registration is available.

Table of Contents

A. Operational Profile

A. Operational Profile

5

B. Turkish Project

a. Overview

6

b. Hydrocarbon Basins Turkey

7

c. Catalca Block

8

i. Summary of Work Completed to Date

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ii. Development Plan

10

C. Sudan Project

a. Overview

11

b. Map of Sudan Fields and Pipelines

12

c. Map of Sudan Oil Concession Blocks

13

d. Map of Rawat Basin

14

e. Block 7

i. Key Events and Catalysts

15

ii. Block 7 Data

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iii. Hydrocarbon Potential

17

iv. Geology

18

D. Senior Management and Advisors Team

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E. Summary

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Operational Profile 2012/13

The Company's assets in Turkey (JV) and Sudan (MOU) are world - class oil / gas developmental and exploration projects each with excellent reserve expansion potential .

Emperor has entered into a joint venture with a well established Turkish energy producer/operator ; and in Sudan, an MOU with State Petroleum Overseas Inc . (Vancouver,

Canada), that encompass proven, probable and producible oil from three newly discovered

fields within the MOU.

Each project has a productive petroleum system that is proven by existing wells plus extensive 2D and 3 D seismic data. A geological and geophysical summary of current seismic and well data has identified multiple prospects and leads which the Company will develop over the next

6 years.

Emperor’s Turkey and Sudan assets will produce, within six months of funding, significant cash flow from current oil/gas reserves.

Turkey Overview

Turkey is a stable modern democracy with quality communication and infrastructure.

A member of G-20 and NATO.

Net importer of natural gas and oil for internal consumption.

Growing natural gas needs at 10% year.

Long term contracts for natural gas are purchased by the Government at prevailing market prices ($9/mcf ) for domestic consumption. (1)

prices ($9/mcf ) for domestic c o n s u m p t i o n

Hydrocarbon Basins - Turkey

Turkey has seven onshore and

four major offshore hydrocarbon basins.

The onshore basins are referred to as S.E. Turkey;

Anatolia Basin, Thrace Basin,

Adana Basin, Tuz-Golu Basin, East Anatolia Basin and the Black Sea Basin Zonguldak and Sinop.

Thrace Basin
Thrace Basin

The offshore basins are; Black Sea, Marmara Sea, Aegean and the Mediterranean Sea. The most active onshore basins are Anatolian, which is oil prone and Thrace which is gas prone. Most of the oil and gas fields are located in these two basins. (1) http://www.turkstat.gov.tr

webpage

Çatalca Block

(36,429 hectares)

Our partner, a energy producer/operator with 20 years of successful operating history in Turkey own a 55% Working Interest in the Catalca Block.

Emperor Oil is earning a 22.5% working interest with potential to increase to 45% working interest.

The Natural Gas discovery well, Damlica-1, is favorably

located 30 km west of

Instanbul.

The discovery well is located 4 km from the natural gas pipeline supplying Instanbul.

Catalca Block
Catalca Block

Çatalca Block Work Completed

Çatalca Block – Work Completed • Approximately 100 kms 2D seismic shot and additional 112 kms

Approximately 100 kms 2D seismic shot and additional 112 kms of 2D

infill seismic shot in Q1 2012,

interpreted June 2012.

Interpretation has identified 5 high grade structural leads.

The discovery well Damlicaell-1 drilled in 2010 will be completed in

the current program.

Excellent reservoir qualities:

porosity 29% and permeability 500 m.darcy.

Successful drilling has identified overall target depth in the Block at 800 m.

Comparative natural gas flow rates

in the basin average +/- 5,000,000 cubic feet per day, per well.

Çatalca Block Cont. 2012 -2013

Development Plan

Phase One

Complete Damlica-1 Discovery

Well

Drill the 5 Grade “A” drill ready leads

Complete required 4 km pipeline tie-in and gathering system for the field. Phase Two

Conclude seismic interpretation utilizing the current geophysical model to confirm the locations of the next ten wells to be drilled.

Average well costs to drill,

complete and place into

production is $1.2 million.

Emperor’s share of CAPEX for 15 wells is approximately $8million. Our current investment in the project is $2 million.

Emperor’s share of CAPEX for 15 wells is approximately $8million. Our current investment in the project

Sudan is the World’s New Important

Petro State - Overview

In 2010, Sudan was the 17th

fastest growing economy in the

world.

Sudan is a very politically stable and democratic country

Sudan is located in north east

Africa. It is bordered by the Red Sea to the north east. The Nile River divides the country between the east and the west.

The capital city is Khartoum

Sudan was producing ± 460,000 bop/d before the country separated into North and South Sudan on July 9, 2011.

separated into North and South Sudan on July 9, 2011. (1)

(1) https://www.cia.gov/library/publications/the-world-factbook/geos/su.html

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Sudan’s Oil Fields and Pipelines

Block 7
Block 7

12

12

Sudan Oil Blocks

Sudan – Oil Blocks 13

Sudan Rawat Basin

(Block 7 concession size 10,000 sq.km)

Sudan – Rawat Basin (Block 7 concession size 10,000 sq.km) 14

Key Events & Catalysts

Q4 Q1 Phase 2 - 2013-2019 2012 2013 -Finalize $20 million financing. - Complete the
Q4
Q1
Phase 2 - 2013-2019
2012
2013
-Finalize $20 million financing.
- Complete the three discovery
wells and commence
production initially by road
transportation.
-Continue to interpret 2D and
3D seismic to identify targets
for Phase 2 drilling program.
- Complete $120 million
financing.
-Drill additional wells.
-Construct 60 km pipeline
from Block 7 to tie into the
main oil export pipeline to
Port Sudan.
-Negotiate for additional
concessions.

Sudan: Block 7 Data

Exploration: Based on known information consisting of geophysical and geological data including 2D (6,071 line

kms) 3D (430 sq km) seismic extending over the oil discovery

structure, plus three discovery wells in three separate fields.

Discovery

Wells:

The

3

new

oil

fields

in

approximately 1,500 meters.

Block

7

are

Estimated Production and Blue Sky: An analogous oilfield

called Heglig/Unity is located in the Abu Grabra Rift (SW of

Rawat Basin) has produced 50% of its estimated recoverable oil reserves of 2 billion barrels.

Abu Grabra Rift (SW of Rawat Basin) has produced 50% of its estimated recoverable oil reserves

Sudan : Hydrocarbon Potential

Sudan : Hydrocarbon Potential 17

Sudan Block 7 Geology

•
Sudan Block 7 Geology • • The Rawat Basin is an easily accessible area. A Central

The Rawat Basin is an easily accessible area. A Central Processing Facility (CPF) for Block 7 is located 60 km away. It is also an entry point for the main export oil pipeline to Port Sudan. The basin is part of an elongated White Nile Rift System. It lies between two major basement structural highs. It corresponds to the northern extension of the Melut Basin. The sedimentary environment is Fluvio-deltaic lacustrine and is highly comparable with the Malut Basin. Rock evaluation data indicate the presence of excellent oil prone lacustrine source rock (Type 1 Kerogen). Reservoir rock is sandstone with shales, with excellent reservoir parameters.

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Senior Management Team

Senior Management

Andrew McCarthy Charles Supapodok Matthew Hamilton John G. F. McLeod Mark Bloom

P. Eng.

President & CEO V.P. Finance CFO Director Director

Advisors

Lutfur Rahman Khan

John G. F. McLeod P. Eng.

Dr. Waseem Rahman

Ex-Chairman, Arakis, Managing Director State Petroleum VPExploration State Petroleum Ex-President Arakis VP State Petroleum - Sudan

OFFICE

1600 -144 4 h AVENUE S.W. CALGARY, ALBERTA T2P 3N4 CANADA PHONE: 403 695 - 1794 EMAIL: INFO@EMPEROROIL.COM WWW.EMPEROROIL.COM

Summary

Focused portfolio of market ready underdeveloped oil and gas projects.

Selection of prime concessions producing Oil and Gas with expandable reserves.

Primary recovery of wells of 30% of original oil in place.

Secondary recovery of 20% of original oil in place.

High impact developmental drilling program over first 3 years.

Management team with proven large scale oil monetization experience in Sudan.

Management represents over 50 years direct oil development and production experience in Sudan within the Unity and Heglig Basins.

Established industry partners with regional expertise.

Clear and focused corporate strategy.

Partnered with experience and connected partners.

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