May 2010 Enhanced Oil Resources PPT

1. ENHANCED OIL RESOURCES Inc.
May 2010
Barry Lasker, CEO

2. Forward-Looking Statements
Certain statements contained herein are forward-looking statements, including statements relating to Enhanced Oil
Resources’ operations; business prospects, expansion plans and strategies. Forward-looking information typically
contains statements with words such as “intends,” “anticipate,” “estimate,” “expect,” “potential,” “could,” “plan” or
similar words suggesting future outcomes. Readers are cautioned not to place undue reliance on forward-looking
information because it is possible that expectations, predictions, forecasts, projections and other forms of forward-looking
information will not be achieved by Enhanced Oil Resources. By its nature, forward-looking information involves
numerous assumptions, inherent risks and uncertainties. A change in any one of these factors could cause actual events or
results to differ materially from those projected in the forward-looking information. Although Enhanced Oil Resources
believes that the expectations reflected in such forward-looking statements are reasonable, Enhanced Oil Resources can
give no assurance that such expectations will prove to be correct. Forward-looking statements are based on current
expectations, estimates and projections that involve a number of risks and uncertainties which could cause actual results to
differ materially from those anticipated by Enhanced Oil Resources and described in the forward-looking statements or
information. The forward-looking statements are based on a number of assumptions which may prove to be incorrect.
Readers should be aware that the list of factors, risks and uncertainties set forth above are not exhaustive. Readers should
refer to Enhanced Oil Resources' current filings, which are available at www.sedar.com, for a detailed discussion of these
factors, risks and uncertainties. The forward-looking statements or information contained in this news release are made as
of the date hereof and Enhanced Oil Resources undertakes no obligation to update publicly or revise any forward-looking
statements or information, whether as a result of new information, future events or otherwise, unless so required by
applicable laws or regulatory policies

3. Enhanced Oil Resources Inc. Stock Profile
• Market capitalization: $55MM*
• 149MM shares outstanding, 190MM shares fully diluted
• Trades on TSX-Venture Exchange under symbol EOR
• Average daily trading volume (3 Mos.): 150,000
* As of 05/03/10
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www.enhancedoilres.com

4. Company Vision
To become a leading energy producer in the Permian Basin
through continued development of our resources of Oil,
Helium and CO2.
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www.enhancedoilres.com

5. Corporate Profile
• Oil production growth via infill drilling, fracture stimulation, water
flooding & CO2-enhanced oil recovery
– Average Q1 2010 production of 520 bopd
– CO2 Pilot flood at Company owned Milnesand San Andres Unit completed
– Approximately 28,000+ total gross acres with 250+ potential 20 acre locations
– Approximately 50 near term fracture stimulations of existing San Andres wells
– Potential reserves at 3 Company owned oil fields through WAG CO2 flooding is
estimated at 50 to 60 mm barrels recoverable*
• Owner/operator of St. Johns Helium/CO2 field in AZ and NM, the largest
undeveloped field of Helium and CO2 in North America
– In-place He/CO2 resource of 15 Tcf**. Proved + Probable reserves of 2.3 tcf
– Potential recoverable helium resource of 30 Bcf**
– Enough 2P reserves for 200mmcfpd pipeline for 30 years
• Cash on hand approximately $1.0MM. Debt Free
*Source: Advanced Resources Int. (2007,2008)
**Source: W.M. Cobb & Associates (2005,2008) 5
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www.enhancedoilres.com

6. Operational Focus: Permian Basin
EOR St Johns Helium/CO2 Field EOR Permian Basin Oilfields
• 300 miles to EOR operated oil fields • Current owner and Operator of 3 oilfields
• Construction to begin late 2014 • Currently producing 520 bopd Q1 2010
• Completion expected in 2015 • CO2 pilot project at Milnesand resulted in 4mm
• Initial Target Rate: 200 MMcfpd +/- barrels (Proved + Probable) in Phase 1 project
• Potential 3rd party sales • Potential reserves at Milnesand 14 mm barrels
• Helium Sales Agreement with Air Liquide • Potential reserves at Chaveroo 34 mm barrels
• Potential reserves at Crossroads 13 mm barrels
Sheep
McElmo • CO2 Agreement with Kinder Morgan in place
Mountain
Dome • Delivery no later than 09/2012
Bravo
Dome
St. Johns
6 Tcf potential Jackson
200 MMcfpd (Phase 2) Denver Dome
Permian
City
Basin
EOR Inc. proposed pipeline
EOR Inc. Oilfields
Sources: DOE [2006] and industry sources
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7. 2009 Financial & Operational Results
• Gross Revenues of $5.7 million, 33% increase from 2008
• Production of 264 BOPD, Entered 2010 at 520 BOPD (Q1/10 average)
• 66% operating margin per BOE
• Proved Developed reserves of 1 million BOE
• PV-10 of $30 million
• Proved + Probable reserves of 4.5 million BOE
• PV-10 of $61 million
• St Johns Arizona He/CO2 resource of 12 Tcf CO2 in place (50% -70% rec)
• St Johns Helium resource potential (phase 1) 8 Bcf
• St Johns Arizona Unit Agreement signed October 2009 (5 Years)
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www.enhancedoilres.com

8. Reserve Growth through Technology Improvements
Current asset base of 3 oilfields has the potential to increase oil reserves from ~ 1mm barrels
(proved developed) oil recoverable to in excess of 50 mm barrels oil recoverable through
infill drilling and secondary/tertiary (CO2-EOR) recovery. Current production of 520 bopd
can be increased to over 8,000 bopd. Re-development of these assets to be implemented in
two phases.
Phase 1
Implement infill drilling and fracture stimulation of the San Andres reservoir at Milnesand
and Chaveroo fields followed by CO2 flooding via existing 5 Year CO2 contract.
Phase 2
Implementation of full field CO2 flooding at these and other fields from the Company’s St
Johns Helium and CO2 field in Arizona and New Mexico or through alternate gas contract.
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9. Company Strategy
Build reserves and cash flow through Exploitation of existing assets,
Acquisition of new assets and Implementation of CO2 - Enhanced Oil Recovery.
Exploit Acquire Implement
• 28,000 Net acres in • Maintain Oil Focus • St Johns Helium/CO2 field
Permian Basin
• Oilfields with a strategic fit • 100 mmcfpd raw feedstock
• Recompletions to existing assets liquid He plant (0.72% He)
• Reactivations • Develop a 2nd focal area • 200 mmcfpd Permian Basin
CO2 pipeline
• Frac existing wells • Upside through reactivations
and facility improvements • EOR - CO2 flooding
• Down spacing to 20 ac
• Miscible CO2 flood potential
• Up hole (new) zones
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www.enhancedoilres.com

10. Recent Growth –Track Record
BUILD RESERVES and cash flow through Exploitation of existing assets,
Acquisition of new assets and Implementation of EOR-CO2 recovery.
BOPD Production Growth Increase in Proved Developed
Reserves
800
600
2010 Goal* * 1,500,000
BOPD
2010 to date*
400 * 1,000,000
200 500,000
0 0
2006 2007 2008 2009 2010 2006 2007 2008 2009
Increase in Proved Reserves Growth in 2P Reserves
3,000,000 5,000,000
Barrels Oil
4,000,000
2,000,000 3,000,000
1,000,000 2,000,000
1,000,000
0 0
2006 2007 2008 2009 2006 2007 2008 2009
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11. Recent Growth –Track Record
Build reserves and CASH FLOW through Exploitation of existing assets,
Acquisition of new assets and Implementation of EOR-CO2 recovery.
Cash Flow From Operations Reduction in Lease Operating
Costs
1000000
500000 150
$/boe
100
0
50
-500000 0
1
3
1
3
1
-1000000
Q
Q
Q
Q
Q
08
08
09
09
10
20
20
20
20
20
-1500000
2009 Q1 2009 Q2 2009 Q3 2009 Q4 2010 Q1
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www.enhancedoilres.com

12. San Andres: 20 Acre Infill Program Economics
EOR Inc. has the potential for approximately 250 20 acre infill wells
• Capex per well - $500,000
• Initial Production – 30 to 40 BOPD
• Cum Oil per well - 38,000 bo
• NPV(10%) - $670,000 per well
• IRR - 63%
• 5 Year inventory of drilling locations at 20 acre spacing
• Peak production potential of 6,500 BOPD prior to CO2 injection
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www.enhancedoilres.com

13. 70 Milnesand Infill Wells (20 acres)
20 Acre Infill wells
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14. 180 Chaveroo Infill Wells (20 acres)
20 Acre Infill wells
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15. Milnesand: 20 Acre Infill Development Plan
Number of Wells Drilled Per Quarter Quarterly Cash Flow Before Drilling
14 $9,000
$8,000
$ Per Quarter (x1,000)
12
$7,000
10 $6,000
8 $5,000
$4,000
6
$3,000
4 $2,000
$1,000
2
$0
0 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3
Q4 2010 Q1 2011 Q2 2011 Q3 2011 Q4 2011 Q1 2012 Q2 2012 Q3 2012 2010 2011 2011 2011 2011 2012 2012 2012
8 Quarters of Infill Drilling Production Quarterly Cash Flow Available After Drilling
3000 $2,500
2500 $2,000
$ Per Quarter (x 1,000)
2000 $1,500
BOPD
1500 $1,000
1000 $500
500 $0
0 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3
-$500
Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2010 2011 2011 2011 2011 2012 2012 2012
2010 2011 2011 2011 2011 2012 2012 2012 -$1,000
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16. Milnesand San Andres Pilot CO2 Flood
Cawley Gillespie Reserves Report Nov. 2009
• CO2 injection initiated September, 2008. Ceased injection August, 2009
• 5 spot pattern. 1 injector; 4 producers
• Peak output per pattern is expected to be 65-90 bopd (2 years)
• Over 100 patterns in Milnesand available under full flood development
• ARI in report Oct 07 estimated 17mm barrels recoverable under CO2
• ARI in report Feb 09 “Results to date match model very well”
• Cawley Gillespie Engineers - 2.2 mm barrels proved; 5 mm barrels probable
based on results of pilot to date for Phase 1 3,000 acre flood
• Phase 1 Peak production 3,500 BOPD in 4 years
• Flood response mirrors Denver City early time results; 14 mm barrels 3P for
6,000 acre field area
• Milnesand is adjacent to Chaveroo San Andres field (EOR 95% owned)
• ARI Chaveroo report Jan 07 estimated 34mm barrels recoverable under CO2
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www.enhancedoilres.com

17. Enhanced Oil Resources Plan for 2010
• Exit 2010 with a rate of 1,000 bopd
• 5 well 20 acre infill drilling at Milnesand
• 5 fracture stimulations at Milnesand
• 5 well drilling commitment at St Johns He/CO2 field
• Start ROW permitting of 25 mile 6 inch CO2 pipeline to Company owned oilfields
• Start permitting for 100 mmcfpd raw feed gas liquid He plant at St Johns
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www.enhancedoilres.com

18. Enhanced Oil Resources Offers
• Ground floor investment opportunity in large scale infill development and
tertiary oil recovery projects with proven technology
• Multi Year inventory of 250 20 acre infill drilling opportunities
• Oil production upside through CO2-EOR from captured fields
• Tremendous leverage into additional CO2 –EOR opportunities
• Ground floor investment opportunity in largest undeveloped
helium and CO2 field in North America
• Minimal Exploration Risk
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www.enhancedoilres.com

19. Management
• Barry Lasker – President, CEO & Director
– 28 years oil & gas experience: geology/geophysics
– Former CEO Kestrel Energy, GHP Exploration, former asset manager BHP Petroleum, Esso Australia
• Kyle Willis – CFO
– 30+ years financial oil & gas experience
– Former CFO Harken USA, former CFO TransAtlantic Petroleum, DrillTube Int’l, Buttes Resources,
Inc.
• Cynthia Newman – CAO
– 20+ years financial experience
– Former Controller Gulfsands Petroleum Plc., former Manager Financial Accounting, Dresser Inc.
• Jamie Hogue – Vice President Government Affairs
– Former Deputy Land Commissioner Arizona State Land Dept.
• Don Currie – Director Investor Relations
– 14 years with the Company
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www.enhancedoilres.com

20. Directors
• Rod Eson – Chairman
– Co-Founder Venoco
– Founder & CEO Foothill Energy
• Tom Milne
– International finance
• Ed Parker
– 35+ years oil & gas experience
– El Paso, Burlington Northern, Burlington Resources
• John Dorrier
– Former CEO Gulfsands Petroleum Plc.
– Amoco, BHP Petroleum, Seven Seas Petroleum
• Barry Lasker – President and CEO
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21. Corporate Information
Corporate Headquarters Contact Us
Enhanced Oil Resources Inc. Barry Lasker – President and CEO
One Riverway, Suite 610 blasker@enhancedoilres.com
Houston, TX 77056
Ph: 832.485.8500 Kyle Willis – CFO
Fx: 832.485.8506 wkwillis@enhancedoilres.com
www.enhancedoilres.com
Cynthia Newman – CAO
cnewman@enhancedoilres.com
Don Currie – Director of IR
dcurrie@enhancedoilres.com
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