1. A start-up oil and gas exploration and production company focused on Colombia

2. Disclosure This presentation contains certain statements that may be deemed "forward-looking statements". All statements in this presentation, other than statements of historical fact, that address events or developments that Bolivar expects to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Bolivar believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include, but are not limited to, market prices, exploration and drilling success, continued availability of capital and financing and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of Bolivar's management on the date the statements are made. Bolivar undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change. February 2011 Bolivar Energy Corp. 2

6. Royalty 8% (up to 8 mmbbls), corporation tax = 33%, (no back-in)

7. Government encourages foreign investment

8. Substantial recent success (Llanos 3D 67%)

9. Excellent petroleum geology fundamentals

10. Little exploration and large remaining potential

12. Strong legal and regulatory framework

13. Low cost of entry

14. No signature bonus, modest minimum work programs

15. Ownership of crude and freedom to sell in international markets

16. No restrictions on repatriating profits

17. Stable and growing economy

20. Acquired 207km² of 3D seismic data in the southern portion of the block

21. Drilling of first exploration well expected to commence in Q1/2011 and will test conventional structural closure in C7 and Guadalupe and a potential stratigraphic trap in the Mirador and Ubaque/Gacheta

22. Surrounded by high rate light oil production from C&C, Petrominerales , Ramshorn, Remora, Alange and Perenco. Wells produce> 1,000 bopd

23. Multi-zone stacked potential in C5, C7, Guadalupe, Gacheta and Ubaque Sandstones

25. ANH contract dated December 16, 2005. Area is 31,606 ha (gross)

26. Adjacent to production from Las Abejas, Chaparrito, Los Toros, Palmarito, Sirenas, Corocora, Dorotea

27. Offers multi-zone stacked potential in C5, C7, Guadalupe, Gacheta and Ubaque Sandstones

28. Mirla Negra-1 well drilled on the block proved oil in C5 sandstones in 2008

29. Acquisition of three 3-D surveys commenced in October 2010 with results expected in January 2011

32. Also shooting 3D on northern extension of Yaguazo, but a well could be located on currently available data if necessaryBolivar Energy Corp. (mapping by Pacific Rubiales Energy) 11

33. Acreage, Leads, Prospects and Prospective Resource February 2011 * Bolivar Energy Corp. (Arrendajo prospective resource estimation from Pacific Rubiales Energy) 12

34. Planned activity 2011-2013 February 2011 Bolivar Energy Corp. 13

35. Capital Structure February 2011 Bolivar Energy Corp. 14 (millions) Note: Total share count may not add up exactly due to rounding

37. February 2011 Bolivar Energy Corp. 16 Thank you for your attention! For further information, please contact either John Moreland or Peter Argiris +1 403 802 0770 x224 or x225 john.moreland@bolivarenergycorp.com or peter.argiris@bolivarenergycorp.com