Exploring for Oil and

Gas in Elephant Country

May 2010

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Forward Looking Statements

This presentation contains forward looking statements and factual information that are current as of
the date the presentation was originally delivered. Universal Power Corp. disclaims any intention or
obligation to update or revise any forward looking statements, whether as a result of new information,
future events or otherwise. Forward looking statements include, but are not limited to, statements with
respect to the timing and amount of estimated future exploration, success of exploration activities,
expenditures, permitting, and requirements for additional capital and access to data. Forward looking
statements involve known and unknown risks, uncertainties, and other factors which may cause the
actual results, performance or achievements of the Company to be materially different from any future
results, performance or achievements expressed or implied by the forward looking statements. Such
factors include, among others, risks related to actual results of current exploration activities; changes
in project parameters as plans continue to be refined; the ability to enter into joint ventures or to
acquire or dispose of properties; future prices of oil and gas; accidents, labor disputes and other risks
of the oil and gas industry; ability to obtain financing; and delays in obtaining governmental approvals
of financing.

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Namibia – The Next Oil Frontier

• Exploration of the South Atlantic Margin Basins in offshore

Namibia
• Over 42,000 km2 of highly prospective oil and gas
exploration rights
• High Resolution Technology (HRT) - world’s leading
offshore petroleum exploration and environmental team:
predicted the following discoveries: Tupi, Jupiter, Guara,
Iara, Carioca, and Parati

Brazil and Namibia are on opposite margins

of the South Atlantic
• Common geological history and similar petroleum system
style

• Three recent giant discoveries reported in deeper horizons

within the Santos Basin, Brazil:

• Tupi (Oil and Natural Gas)

• Carioca (Oil and Natural Gas)
• Jupiter (Natural Gas and Condensate)

• Combined, the above discoveries represent the world’s

largest find since the 1970s!

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 Universal
Properties

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Block 1711 – Possible 14 TCF Discovery

• Kunene # 1 well drilled and cased to 5,050 m

• PetroAlliance (a subsidiary of Schlumberger) estimates that

the 4,698 m - 4,748 m interval could contain 14 TCF (NOTE:
this estimate is NOT compliant with NI51-101)

• The Hartmann prospect is estimated to contain 2,704 million

barrels of oil or 14,064 BCF of gas (unrisked base case from
Netherland Sewell estimates, as at Sept ’06 (Energulf))

• 2.7% carried interest held by Universal

• Other Holders include:

• Sintez LLC/Nikor (70% working interest)
• PetroSA (10% working interest)
• EnerGulf Resources (10% working interest)
• Namcor (7% carried interest)
• License extended on April 5, 2010 for an additional 2 years

• Extension requires the drilling of one well

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Blocks 2713 A&B & 2815

• Situated on the boundary between the Luderitz

and the Orange Basins

• In proximity to Tullow’s proven Kudu Gas field,

which consumes most of Block 2814C

• Large features mapped on blocks 2713A and 2815

• Adjacent to blocks currently being explored by

PetroBras, and Petro SA. Also proximal to Shell’s
recent South African deepwater 37,000 km2
exploration license

• Existing 2D seismic has been purchased and

interpreted, with 3D seismic planned in Q4/10-
Q1/11

• Will be looking to secure farm-out partners in

Q3/10

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Blocks 2813A, 2814B & 2914A

• Contiguous blocks cover an area of 15,382 km2 (1,538,200

hectares)
• Universal holds a 40% working interest – other partners
include:
• HRT Oil & Gas - 40% working interest
• Acarus Investments (Proprietary) Ltd - 20%
participating interest
• Partnership with HRT O&G provides:
• Access to the world’s leading geoscientists on the
South Atlantic Margin
• Accelerated data gathering, interpretation and mapping,
resulting in a quicker farm-out process
• Reduced net capital exposure
• Proven techniques to economically optimize the quality
of the data assembled in deriving a definitive drilling
location
• Comprehensive technical interpretation that will
increase likelihood of partnerships with major oil
companies:
• Better farm-out terms
• More wells drilled

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 Regional Picture

• Land addition locks up all blocks bordering Kudu,

except to the immediate north
2713B 2713A • Interpretation is that Kudu’s hydrocarbon-
charged reservoir is an Aolian sand (ie. sand
dunes)
• Oil extracted from Kudu wells prove two
separate source rocks regionally present
2813A
• Oil slicks identified throughout the area, including on
2814B
new blocks
KUD
U
2815
2816
• High quality 2D and 3D trade seismic available
• To-date, 2170 kms of 2D seismic purchased &
interpreted
• 3D seismic acquisition planned
2915
2914A • Adjacent to blocks currently being explored by
etroBras, and Petro SA. Also proximal to Shell’s
recent South African 37,000 km2 deepwater
?
? exploration license
Orange low • Will be looking to secure farm-out partners in Q3/10

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What is Driving Our Current Investigations?
Maximizing the Probability of Success
• The Probability of Success (POS) on a well is a function of four variables:

• Reservoir: a proper host with adequate permeability and porosity to allow for the
accumulation and outflow of hydrocarbons.

• Trap: faulting or closed structure lead to the hydrocarbon halting its migration.

• Source Rock: need a mature source, expulsion sequence and migration timing. In
addition, the trap must predate the migration.

• Seal/Preservation: need a sealing zone, which is often a shale sequence. Seal

formation must also predate source rock migration.

• Technical expertise is a fifth element:

• HRT/IPEX: significant and successful experience in the South Atlantic Margin, using
investigative techniques that have proven additive to the POS.

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 Reservoir

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Historical Exploration Results:
Field Data & Lab Data 2010
Water depth Source potential-
License Year Total Result
Lab Well ID Shallow Operator Basin Reservoir migration Trap
area Drilled Depth shows
waters pathways
Gas & Oil good
Kudu 9A-1 (2814A) 167m Chevron 1973 Orange 4536 mbKB good good
shows sandstone
Kudu 9A-2 Gas & Oil poor stratigraphic
(2814A) 168m Swakor 1987 Orange 4505 mbKB good
Kudu 2 shows sandstone poor
Kudu 9A-3 Gas & Oil good
(2814A) 166m Swakor 1988 Orange 4522 mbKB good good
Kudu 3 shows sandstone
Gas & Oil good
Kudu - 4 2814A 176 m (MSL) Shell 1996 Orange 4719 mbKB good good
shows sandstone
2814/11-4 Gas & Oil good
2814A 162.9m (MSL) Shell 1998 Orange 4898 mbKB good good
Kudu - 5 shows sandstone
2814/11-5 4725 Gas & Oil good stratigraphic
2814A 171m (MSL) Shell 2002 Orange good
Kudu - 6 Mahbdf shows sandstone poor
2814/7-2 Gas & Oil good stratigraphic
2814A 179 m (MSL) Shell 2002 Orange 5275 mbKB good
Kudu - 7 shows sandstone poor
Kudu Gas & Oil good stratigraphic
Kudu - 8 179 m Tullow 2007 Orange 4725m good
Production shows sandstone poor
Oil shows in good
1911/15-1 1911 489 m (MSL) Norsk Hydro 1994 Walvis 4586 mbKB fair poor
core 4 carbonate
good
1911/10-1 1911 631m (MSL) Norsk Hydro 1996 Walvis 4185 mbKB Oil shows fair poor
sandstone
good
* 2012/13-1 2012 650m (MSL) Sasol 1995 Walvis 3712 mbKB Oil shows good poor
sandstone
good
* 2213/16-1 2213 240m (MSL) Ranger Oil 1995 Walvis 2627 mbKB Oil shows poor poor
sandstone
2313/?5-1 good
2313 ?? Shell 1998 Luderitz 2588 mbKB Oil shows poor poor
Shark 1 sandstone
Oil shows in good
2513/8-1 2513 243m Norsk Hydro 1998 Luderitz 2423 mbKB poor poor
core 1 sandstone
Gas & Oil tight stratigraphic
2815/15-1 2815 177m (MSL) Chevron 1996 Orange 4751 mbKB fair
shows sandstone poor
The main risks : in Walvis and Luderitz the main risk is Charge (maturation and pathways); while in Orange it is trap (stratigraphic) .
The proximity of the pod of geration is critical and the concentration of migration pathways.

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Generalized Cross-Section of the
Namibian Coastline

Kudu 9A-2

KUDU GAS/ Wells All Drilled on Shelf, Where

There is No Trap
CONDENSATE
Need to Drill Deeper, Where
there is Trap FIELD (2.7 TCF)

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 Trap & Seal

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2713A BLOCK - Plays for Aptian/Barremian

(Sub-salt equivalent)

Structure in
Depth Top of
Rift
Main Area for
Exploration

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BLOCK 2713A - Plays for Aptian/Barremian
(Sub-salt equivalent)

Aptian
Anomaly
Rift Leads

10Km
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 Source Rock

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 Oil & Oil Correlation: Brazil Versus Africa

MARINE DELTAIC
TERTIARY
Paleozoic
MARINE ANOXIC

AFRICA
ALBIAN-CENOMANIAN

LACUSTRINE SALINE OIL TYPE

BRAZIL
LACUSTRINE BRACKISH/ Proterozoic
SALINE OIL TYPE Proterozoic
/Paleozoic
SEDIMENTARY BASINS /Paleozoic

Also see Slide 11 where it states that Paleozoic

every well drilled offshore had oil
shows. Biomarker and diamondoid Namibia
studies confirm such conclusions.

Mello, 2000 www.universalpowercorp.com • TSX.V: UNX • FRANKFURT:3U2A 17

Oil Slicks: Satellite Surveys
Two Examples of Potential Oil Slicks in the Orange Basin

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Summary of Potential Seepage Slicks Interpreted
With Radarsat-1 And Envisat Archived Images

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Conclusions on Probability of Success

• Reservoir: sediment deposition moves from onshore to offshore (east to west), and
the sediment quality volume is high, meaning reservoir characteristics in deeper water should
be very good. Confirmed in well data and interpreted on seismic

• Trap: clear from seismic that trap preceded source rock migration and maturation. Trap
also evident on seismic

• Source Rock: source rocks in the south Atlantic margin are prolific. Two source
rocks confirmed in Namibia. Oil slicks and oil samples extracted from the nearby Kudu gas
field and oil stains in all offshore wells confirm presence of mature source rock and
hydrocarbon generation

• Seal/Preservation: shale sequence is very thick in the deeper waters (in excess
of 200 meters)

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Universal’s Strategy

• Near-Term:
• Complete our Services Agreement with IPEX, setting the stage for the establishment of a data
room:
• Investigate the availability of reasonable farm-out terms
– Look for partners that help mitigate the company’s at-risk capital exposure
– Continue to pursue scientific methodologies/expertise that will maximize the probabilities of success
• Set forth further work programs that will add to the already strong empirical evidence
• Intermediate-Term:
• Balance the company’s risk profile
• Look for undercapitalized assets to exploit.
– Not an abundance of juniors in west Africa
» There are many small properties that could be optimized using modern
drilling/fracing/stimulation/enhanced recovery techniques
– Goal is to create other operating areas, using eventual free cash flow (from high ROR projects) to fund
the company’s other growth initiatives
– Other benefits of asset acquisitions include: improved and more flexible capital structure, a growing
hard net asset value, free cash flow, and portfolio diversification
• Long-Term:
• Create a company that is delivering highly economic growth, and doing so with a prudent
allocation of capital that delivers superior economic returns and growth

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2010 Milestones

Significant and progressive changes to executive team and directors

Secured PEL 2813A, 2814B, and 2914A blocks, partnering with HRT

Relocated head office from Vancouver to Calgary, Alberta

Sintez renewed PEL 1711 for additional 2 years. UNX thus carried on
forthcoming 2-year program in following up on the encouraging results from the
Kunene #1 well

• Receive IPEX analysis and commence a data room process

• Engage independent reserve engineers for a NI51-101 certifiable resource

• D&M currently contracted to provide resource estimates specific to EL 2713A

• Finalize and execute work programs for Fall 2010 & Winter 2011 campaigns

• Make further additions to Senior Management

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 Management
Team

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Senior Management Team

Gabriel Ollivier, Director, President and CEO

• Former Managing Partner and Institutional Salesman at Paradigm Capital Inc., and former Partner and Institutional
Equity Salesman at Cormark Securities Inc.
• Over 10 years of senior management experience in the oil and gas industry with Canadian Hunter Exploration Ltd,
Crestar Energy Inc. and Murphy Oil Company Ltd.

Maria Elliott, Vice-President, Finance, & CFO

• Over 17 years of finance and financial reporting expertise specific to oil and gas
• Set up reporting systems, banking arrangements, internal controls, etc., in many international jurisdictions for activities
specific to oil and gas exploration, development, and production
• Former Chief Internal Auditor, and Controller of Sherritt International, a major producing company in Cuba

Curtis Evert, Vice President Exploration and New Ventures

• 25 years of experience as a professional geologist in the energy sector
• Extensive experience in international oil and gas exploration and development, and an in-depth understanding of
offshore drilling and field development
• Has previous senior management roles with Marathon Canada, Sherritt International Corporation, and most recently
has overseen several large offshore deepwater discoveries made by Husky Energy Corporation in the South China Sea

Mark Monaghan, Director & Executive Director, Business Development

• Over 17 years of institutional equities and public company experience
• Experience in corporate finance, corporate development, merchant banking, executive management and board
appointments
• Most recently was President of Quest Securities, with previous senior roles at TD Securities, Deacon Capital, CT
Securities, and has also been a strategic advisor to several publicly listed companies

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Directors

Duane Parnham, Chairman

• Founder, Director and CEO of Forsys Metals Corp – Namibian Energy company
• Tremendous experience working in Namibia
• Strong relationships and expertise earned over a 24-year career in the areas of:
Government Relations, Capital Markets and Corporate Management

Michael Black, Director

• Managing Partner at Heenan Blaikie LLP
• Extensive legal experience in the energy sector, ranging from negotiation and drafting of international joint operating
and joint venture agreements, the negotiation and execution of resource-based transactions, and other legal and
commercial matters specific to the conduct of business in international jurisdictions
• In the past 5 years he has led over 50 M&A deals

Mark Frewin, Director

• Partner at McCarthy Tétrault
• Extensive legal and commercial expertise and a particularly strong background in dealing with international law
• Experience in Africa, with specific knowledge of the legal environment in Namibia

Knowledge Katti, Director & CEO of Kunene Energy (Pty) Ltd

• Over 10 years of experience in national and international exploration and government activities
• Strong resource to the company in terms of deal flow and strategic partnerships
• Kunene Energy is a Namibian Black Economic Empowerment (BEE) company

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Directors

Donald Sharpe, Director

• Over 25 years as a professional geophysicist
• Started and developed his career at Suncor Energy prior to managing and serving as a director of a
number of successful start-up companies including Gemini Energy Inc., and Velvet Exploration Inc.

Keith Turnbull, CA, Director

• Retired from KPMG as part of the accounting firm’s 12-member executive management team
• 38 year career in public practice including involvement in emerging international energy companies
• Wide range of experience including financial reporting, taxation planning, corporate governance, internal controls,
auditing, public disclosure and other assignments specific to oil and gas companies

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Country Details - Namibia

• Stable Democracy: gained independence from South Africa in 1990

• Area slightly smaller than British Columbia
• Population: 2.1 million, median age 21, 37% urban
• Second lowest population density in the world
• BBB Country Risk Profile, according to The Economist
• same rating as South Africa and Brazil
• Official language: English
• Main industries: tourism, mining, fishing, & ranching
• Inflation rate ~ 8% (estimate 2009)
• GDP: US$13.6 billion in 2008
• Existing multi-nationals in country: Petrobras, Anglo-American, Areva, DeBeers, Rio
Tinto, Paladin, Forsys, Nikor, PetroSA
• Fiscal regime: 35% federal tax and flat 5% royalty - no PSAs or PSEs

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Location

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Summary

• Elephant Country
• Most of the world’s biggest oil discoveries in the past 30 years are in the South Atlantic Margin

• 30b bbls in conjugate margin in offshore Brazil, & 16b bbls immediately to the north in offshore
Angola

• Probabilities of Success are higher than normal

• Risked economics are exceptional given high POS & big targets

• Strong management team

• Near-term potential for farm-out process

• First strides toward the receipt of a NI51-101 certifiable resource in Block 2713A

• Strategic partnerships – HRT O&G and NAMCOR

• 51,273 gross km2 (net 30,683) of exploration and carried interests

• Block 1711 – potential hydrocarbon system identified with 2.7% carried interest

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Corporate Data

Symbol North America, TSXV: UNX

Europe, Frankfurt:3U2A
USA, Pinksheets: UPWRF
Share Price $2.05

Shares Issued & Outstanding 85,667,157

Fully Diluted 91,502,871

Cash on Hand $5 Million

Head Office Calgary, Alberta

Transfer Agent Computershare Trust of Canada

Legal Counsel Clark Wilson, Vancouver, BC/McCarthy Tétrault, Calgary, AB

Auditor Morgan & Company, Vancouver, BC

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Contacts

David Feick, Investor Relations

Telephone: (403) 218 2839
Email: dfeick@equicomgroup.com

Heidi Christensen Brown, Investor Relations

Telephone: (403) 218 2833
Email: hchristensenbrown@equicomgroup.com

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 Appendix

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 Summary of HRT O&G

HRT O&G is an oil and gas company based in Rio de Janeiro, Brazil, and is a wholly-owned subsidiary of HRT
Participações em Petróleo S.A. (“HRTP”). The HRT O&G team is lead by Dr. Marcio Mello, who founded HRT Petroleum
in 2004 after a very successful 24-year career at Petrobras, which included a 17-year span running the technical centre
of excellence of Petrobras-CEGEQ. From 2004 until mid-2009, Dr. Marcio Mello was the CEO of HRT Petroleum, which
was strictly a geologic consultancy company with the biggest geoscientific lab in the southern hemisphere. Over the
years, the HRT team has gained global recognition for their expertise in building fully-integrated 3-D compositional
petroleum system basin models, putting full use of investigative techniques based on geochemistry, biostratigraphy,
seismic interpretation, structural geology, oceanography, and biology, in its efforts to reduce exploration risk. The HRT
team is credited, among their many accomplishments, with predicting hydrocarbon presence in the pre-salt of Brazil's
Santos basin, which led to the giant Carioca and Tupi oil discoveries. The services offered by HRT Petroleum continue to
exist, through Integrated Petroleum Expertise Co. (IPEX), which is now another wholly-owned subsidiary of HRTP .
Universal has a Services Agreement with IPEX on blocks 2713 and 2815 and expects the work contained in the
agreement to be completed in June, 2010.

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HRT Key Technical Personnel

Dr. Marcio Mello, President of HRT Petroleum

• Established HRT Petroleum in 2004
• 24 years with Petrobras, subsurface and basin analysis geologist and head of their petroleum geochemistry section
(SEGEQ)
• For 10 years, was responsible for the development of petroleum system studies for all the sedimentary basins of Latin
America & Africa
• Founder and first president of the Brazilian Association of Petroleum Geologists, past President of AAPG Latin
America, PhD in Petroleum Geochemistry from Bristol, England

Dr. Nilo Azambuja, Vice President

• 30 Years with Petrobras, a specialist in petroleum system analysis and oil and gas exploration and production
• Coordinator of research projects in stratigraphy and sedimentation on rift, Brazilian passive Atlantic margin and
Paleozoic basins, with specific interests in the Gulf of Mexico and West Africa
• PhD in Sedimentology from Imperial College, London

Antonio Catto, Geophysicist

• 2004-2007 Petroleum Geophysicist with ENI Oil do Brazil
• Previously 31 years with Petrobras where he headed up the deep water exploration team and contributed to several of
the offshore Brazilian discoveries
• Responsible for devising a new model for gas migration pathways

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