EXPEDITION ENERGY LTD

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EXPEDITION ENERGY LTD Powered By Docstoc
					  October 2005 Corporate
       Presentation

Investing our shareholders capital in profitable oil and gas projects
Disclaimer

This information contains forward-looking statements (forecasts)
under applicable securities laws. Forward-looking statements
are necessarily based upon assumptions and judgments with
respect to the future including, but not limited to, the outlook for
commodity markets and capital markets, the performance of
producing wells and reservoirs, and the regulatory and legal
environment. Many of these factors can be difficult to predict. As
a result, the forward-looking statements are subject to known or
unknown risks and uncertainties that could cause actual results
to differ materially from those anticipated or implied in the
forward-looking statements.



            EXPEDITION ENERGY INC.
   Executive Overview

 A junior Alberta oil & gas company positioned to take
  advantage of current high energy prices
 Optimizing core assets to fund new exploration and
  development in selected geographic areas
 Currently optimizing lands and prospects in Southern,
  Central Alberta and West-Central Sask.
 Production rate approx. 400 BOE per day
 Additional production expected with successful completions
 Undertaking to drill 9 wells to year end 2005
 Currently trading under NAV $0.73/sh
 Publicly listed TSX Venture Exchange symbol XPD

              EXPEDITION ENERGY INC.
    Board of Directors
    Scott St. John – President & CEO
   Expedition Energy Inc., Manna Operations Ltd.
   Formerly President of Mesquite Exploration Ltd., Keatten Resources Ltd.
   Current or past director of Mesquite Exploration Ltd., Keatten Res. Ltd., Nova Paradigm Solutions Inc., Manna
    Operations Ltd.

    Bill Guinan – Corporate Secretary
   Partner, Borden Ladner Gervais LLP
   Current or past director of several successful oil & gas companies,
    including Celtic Exploration Ltd, Geocan Energy Inc. and Genesis Exploration Ltd.

    Peter Gross, P. Eng.
   40 years of oil & gas experience
   Formerly Chief Operating Officer of Viking Energy Royalty Trust
   Director Technicoil Corporation, Trinidad Energy Services Income Trust

    Cameron Millikin
   Director and Chairman of Bay Mount Capital Resources Inc.,
    Director of Big Rock Brewery Income Trust

    Steve Burtt CA.
   24 years of industry experience
   Former CFO at Caribou Res., Macon Res., Battle Creek Developments, Strike Energy
   Current Director at Saxony Petroleums



                          EXPEDITION ENERGY INC.
    Key Personnel
    Scott St. John – President & CEO
   26 years of oil & gas operations & corporate experience
   Mesquite Exploration, 40 BOE per day to 1,835 BOE per day, 3 years
   Sold in 2002 for $48.5 million


    Alan R. Bamsey, P. Eng. – Vice President Operations
   28 years of oil and gas operations experience at various levels
   Most recently with Lexxor Energy Inc. as VP Eng. and Ops. Lexxor grew
    from 900 boepd to 2500 boepd in a 2 ½ year period prior to merging with
    Sine Energy in Sept/03
   Founders Energy (Provident), Chevron Canada Resources
    Neil G. Burrows, CMA – Chief Financial Officer
 19 years of experience with junior oil & gas companies, both public and private

 Addison Energy Inc., Pogo Canada Ltd., Granger Energy Corp., Remington
  Energy Ltd

                   EXPEDITION ENERGY INC.
    Key Personnel
    Tom J. Donaghy, M.Sc., P. Geol. – Vice-President of
    Exploration & Development
   28 years experience in the Western Canadian Basin
    Viking Energy Trust, Wiser Oil Comp., Canor Energy Ltd., and Unocal
    Managed reporting, preparation of budgets, exploration direction and
        multidisciplinary staff to execute up to $74 mm capital programs


    Tes Yemane, PhD, P. Geol. – Senior Geologist
   13 years experience nationally and internationally
    7 years Murphy Oil
    Pan Canadian, Pacific Cassiar Ltd.
    Yemen, Ethiopia and Wyoming USA
    Karen Dowling – Land Consultant
   20 years experience with private and public oil & gas companies,
    Chauvco Res., Mesquite Exploration, Nu-Sky Energy, Devlan Exploration,
        Denim Energy

                  EXPEDITION ENERGY INC.
    Business Strategy

   Developing core areas based on resource potential, drilling
    depth and competitive advantage

   Gas oriented (now 75% gas weighted)

   Land purchases in new and existing core areas

   Receptive to industry partnerships, including joint ventures
    and farm-ins

   Seek accretive property acquisitions or swaps to optimize
    assets in core areas



                EXPEDITION ENERGY INC.
    Core Area Strategies

   Targeting specific reservoirs and geological trends known to be
    economic


   Existing infrastructure present to aid in quick cash flow


   Systematically pursuing farm-in or crown land opportunities


   Growth potential to 1,000 BOEPD per area




                EXPEDITION ENERGY INC.
2004 Results
 Capital Expenditures                           $4,714,615
 8 of 9 Wells Cased and Completed                  89%

 P+Pr Reserves 679,000 boe. NPV@10%            $8,970,000
 Res. Adds of 598,000 Boe     Proved + Prob.    $9.02/Boe
                                    Proved     $11.25/Boe
 Adding 255 BOEPD                              $18,488/Boe
 8700 Acres Undev. Land                         $1,300,000
 Seismic & Facilities                            $820,250
 Net Asset Value                               $11,090,250




           EXPEDITION ENERGY INC.
2005 Results
 Capital Expenditures                         $3,999,741


 3 Wells Drilled and cased (1.13 net)         $2,004,690
 Facilities                                   $1,663,969
 Seismic                                         $40,651
 Land                                           $290,431


 Reserve Adds 490,000 boe
 10,000 Acres Undev. Land and Seismic         $2,000,000
 Current production approximately 400 boepd
 GLJ Sept. 1/05 Report NPV 10% P+Pr.          $16, 378,000

              EXPEDITION ENERGY INC.
Current Production


                                 Current
  Heavy Oil (bbls/d)                 49

  Light Oil & Ngls (bbls/d)          54
  Gas (mcf/d)                      1780

  Total (boepd 6:1)                 400

  Q4 Drilling Underway



        EXPEDITION ENERGY INC.
    Highvale, Alberta

   50% W.I. 50 km west
    of Edmonton

   Production currently
    126 mcf per day or
    21 BOEPD net

   1 prospect for Mannville, Belly
    River, Edm. Sands

   Successful re-completion of
    Edmonton Sand zone




                 EXPEDITION ENERGY INC.
    West-Central Saskatchewan
   Heavy Oil Area

   50% working interest

   Current Prod. 49 bpd net

   1 horizontal well drilled

   1 horizontal, 2 vertical locations
    programmed

   Risk production adds of 80
    boepd net

   Reviewing new opportunities
    based on seismic, well results
    and land deals




                  EXPEDITION ENERGY INC.
    Medicine Hat
   8 1/4 section farm-in,
    41 section AMI

   2 wells drilled, 55% WI in 15
    1/4 sections, earned and
    purchased, 1 Bow Island gas
    well 80 mcfpd or 13 boepd net

   2 exploration prospects on
    earned and AMI Lands.

   1 well drilled in Q3, D&A

   2 additional sections purchased
    based on seismic anomalies

   Property currently under review
    with partners



                 EXPEDITION ENERGY INC.
    Nevis, AB

   Coal bed Methane, Horseshoe
    Canyon, Edmonton and Belly
    River sand, Mannville Coal
    potential, 100% WI

   Drill 4 wells fall 2004, on
    production at a restricted rate of
    800 mcfpd, 80% capacity in
    Oct/05.

   4 additional wells to be drilled in
    Q4

   Projected Nevis 2005 exit
    production 1,600 mcfpd, (265
    boepd)


                  EXPEDITION ENERGY INC.
    Threehills, Alberta

   Successful farm-in and land purchases to accumulate 5
    sections (Avg.WI. 92%) multiple horizons

   2nd well drilled in late 2004, now tied in and on stream at 140
    mcfpd net

   Current area production 32 BOEPD net

   1 well planned Q4 2005, will test CBM, Belly River and
    Mannville formations




                EXPEDITION ENERGY INC.
    West-Central, AB
    Ferrier
   Purchased 50% WI two sections
   Area targets; Belly River, Cardium, Viking, Mannville, Rock Creek
    and the Elkton/Shunda. 1-2 mmcfpd gross plus 25-50 bpd Ngls is
    typical from these wells. One well drilled, completed and tied-in.
    Encountered extension of a large Mississippian gas field.
   Second well planned in Q4
   Operated property, existing area infrastructure and capacity
   Lands posted for future land sales based on 3D seismic

    Deanne
    Participated to Non-op 20% WI. Completion and testing underway



                 EXPEDITION ENERGY INC.
Share Capital and Cash Position


  XPD Current                           20,925,598
  Directors & Management                     10.6%
  Fully Diluted                         22,644,098
  Options avg. exercise price $0.45      $773,000
  Bank debt                            ($2,300,000)
  Equity financing in progress $5.0M     9,090,909




         EXPEDITION ENERGY INC.
CapEx Forecast 2005

                                      2005
   Land/Seismic                  $2,300,000
   Drilling/Comp.                $6,700,000
   Facilities                    $2,000,000
   Acquisitions                         Nil
   Total                        $11,000,000




       EXPEDITION ENERGY INC.
CapEx Forecast Assumptions

   Remainder of 2005
   WTI Oil ($US)               $55.00
   Heavy Oil                   $36.00
   Natural Gas                  $7.70
   Cdn Dollar (US)              $0.82
   Int. Rate – P+3/4%             5.0




      EXPEDITION ENERGY INC.
CapEx Forecast


                                2005
   Op. cost/boe                 $9.75
   Royalty rate (net of ARTC)    19%
   Admin. Cost/boe              $9.00
          forecast Dec. 2005    $5.20




       EXPEDITION ENERGY INC.
CapEx Forecast

                                     2005

 Operations cash flow           $2,000,000
 Cash flow per share                $0.10
 4th. Q Annualized CF           $4,455,000
 4th. Q Annualized CF/Share         $0.16




       EXPEDITION ENERGY INC.
   2005 Year End Drilling Program

 Drilling:
     3 development heavy oil wells
     7 development gas wells
     1 exploratory well

 70% average working interest
 Potential risked production adds 370 boepd
 Drilling, comp. equip & tie-in $5,200,000
 Land & Seismic $2,000,000


              EXPEDITION ENERGY INC.
    Investment Highlights
   Investment opportunity in a junior oil & gas company

   Proven management team with success in building
    shareholder value

   Growth through re-deployment of cash flow and capital into
    new high potential areas

   Acquired lands and generated prospects in Southern,
    Central Alberta and West-Central Saskatchewan

   Trading under current NAV $0.73 per share

   Forecasted Q4 annualized 2005 Cash flow $0.16 per share

   Publicly Listed TSX Venture Exchange symbol XPD


               EXPEDITION ENERGY INC.
  October 2005 Corporate
       Presentation

Investing our shareholders capital in profitable oil and gas projects

				
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