United Hunter Oil and Gas TSX-V:UHO May 2010 Huasna Presentation

1. Vesta Capital Corporation
TSX-V VES
(United Hunter Oil and Gas)
May 2010 Huasna Presentation
VESTA CAPITAL CORP. COPYRIGHT 2010 1

2. DISCLAIMER
The particulars relating to the Huasna field contained herein were obtained from sources which we believe are reliable but are
not guaranteed by us and may be incomplete. The opinions expressed are based upon our analysis and interpretation, and are
not to be construed as solicitation or an offer to buy or sell the securities mentioned herein.
This presentation contains confidential information and by viewing this presentation the viewer agrees that all the information
contained herein will be used by the reader solely to determine his/her/its interest in Vesta Capital Corp. (“Vesta”, “or the
company”) and that such information shall be retained exclusively for the benefit of Vesta. The viewer agrees that he/she/it
will not, without the express consent of Vesta, make use of, disseminate or in any other way disclose any of the confidential
information to any person, firm or business, except to the extend necessary for negotiations, discussions, and consultations
with personnel or authorized representatives of the reader for the purpose of determining such interests in Vesta.
No securities commission or other similar regulatory organization has reviewed or passed on the merits of this presentation
and any representation of the contrary is an offense. This presentation is not, and under no circumstances is to be interpreted
as a prospectus, public information, solicitation or advertisement for the sale or trade of securities. The information contained
herein in current as of September 22, 2009.
VESTA CAPITAL CORP. COPYRIGHT 2010
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3. Mission Statement
The goals of Vesta Capital Corp.
1) > 0.5 Billion bbls OOIP at Huasna
2) > 1200 bopd production capabilities at Huasna
3) Additional modest growth properties in Canada and
California
4) Pursue John Master’s larger play concepts in the
USA.
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4. CORPORATE HIGHLIGHTS
 Past producing asset in California in the Huasna proven oil field (65% working
interest) with low risk, development opportunity with a short time to production (by
Q4 2010)
 Huasna has significant upside potential beyond the resource defined in the current
conservative 51-101 report
 Additional low risk, by-pass pay opportunities in Canada and California to be pursued
concurrently
 Experienced management team with 30 years of financial and operational
experience in companies like Canaccord Capital, Griffiths McBurney, Canadian
Hunter, Rally Energy and Canacol.
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5. Management & Board
 Mr. Bradley Griffiths- Chairman of the Board and Director
 Mr. Griffiths received his C.A. in 1982 and was the head of the Mergers and Acquisitions group of Canadian Imperial Bank of
Commerce in 1984 and Vice-President in 1989. Mr. Griffiths was a director and Vice-President of Gordon Capital Corp. and
then in 1995 founded and served as Chairman and CEO of the brokerage firm Griffiths, McBurney which rose to become the
sixth largest trader on the Toronto Stock Exchange. Griffiths, McBurney completed a $650,000,000 (CDN) offshore, "bought
deal" financing as lead underwriter for Sherritt International. While Mr. Griffiths contracted for two years as Co-Chairman and
Head of Capital Markets of Canaccord Capital the staff was increase five-fold and a record number of transactions were
completed resulting in substantial increase in revenues. Mr. Griffiths and 7 of the 8 members of the Canaccord Toronto
corporate finance team purchased a major interest in Standard Securities. Mr Griffiths joined the firm of McFarlane Gordon in
2003 as Managing Director of Capital Markets. In 1999 Mr. Griffiths was recognized as one of the top 20 most influential
financiers in Canada and for completing more transactions than any member of the Independent Dealer community. In the
last 22 years Mr. Griffiths has completed $20 billion (CDN) in financings and played advisory and financing roles for clients
both nationally and internationally. Mr. Griffiths was awarded the Yves Landry Foundation award as Person of the Year in 2002.
 Dr. Arthur Halleran- Chief Executive Officer and Director
 Dr. Halleran obtained a Ph.D. Geology & Geophysics from the University of Calgary and has 29 years of domestic and
international experience in petroleum exploration and development with extensive exposure to complex carbonate and clastic
environments and new basin analysis. In addition, Dr. Halleran has extensive experience in EOR projects. Dr. Halleran was a
consulting geologist for Rally Energy Corp. and initiated the companies drilling program which discovered the prolific producing
fractured reservoir trend and provided scientific data for EOR steam recovery. Dr. Halleran was part owner and Vice President
Exploration for Canacol Energy Ltd., a company with interests in Colombia , Guyana and Brazil During Dr. Halleran’s tenure as
VP, Canacol Energy acquired producing assets in Colombia and Brazil and participated in the largest oil discovery in Colombia
over the last 10 years.
VESTA CAPITAL CORP. COPYRIGHT 2010 5

6. Management & Board
 Mr. Smith – Chief Financial Officer
 Mr. Smith has 34 years of financial management, accounting and business experience. During his varied career, Mr. Smith has
acted as Controller, Treasurer, Senior Vice President and Information Technology advisor for both Canadian and international
companies. Over the past ten years Mr. Smith has worked as senior financial analyst for RBC Capital Markets and Bell Mobility,
controller of Xstrata Copper and MS Access risk analyst for Enbridge Consumers Gas. Mr. Smith has been financial controller
of more then 10 public companies. Mr. Smith is a business administration and computer science graduate of Ryerson
Polytechnic Institute and received his Certified Management Accountant (CMA) designation in 1989.
 Mr. Peter A. Rudakas – Vice President of Exploration and Development
 Mr. Rudakas earned his degree in 1979 M.A. Geography, University of Windsor and Specialized in erosional processes on
various rock types, he also earned his B.Sc. Geology, at the University of Windsor. Progressive experience in hydrocarbon play
development and management / supervisory functions in exploration. President of a public and private junior oil and gas
company. Vice President Exploration, Exploration Manager, Supervisor, Coordinator of mainland Canada operations. Prior to
joining United Hunter Mr. Rudakas has been consultant and Geologist with Devon/Northstar, Mogul Energy International,
PennWest, Newalta and Titan Exploration as well as the President and Director of Impel Corporation.
 Mr. Daniel Bloch - Director
 Mr. Bloch is a partner at Aird & Berlis LLP in Toronto, and a member of the firm’s Corporate Finance Group and the Natural
Resource Team. Mr. Bloch’s practice focuses on all areas of corporate finance, mergers and acquisitions and security law. Mr.
Block regularly represents and provides general corporate and securities law advice to publicly and privately held corporations
in a wide variety of industries. He has developed a particular expertise in advising issuers and underwriters in connection with
public and private financings.
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7. HUASNA, CALIFORNIA
HUASNA FIELD LOCATION IN CALIFORNIA, UNITED STATES
Huasna Field is located in southern California near the town of San Luis
Obispo, north of similar giant oil fields.
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8. Huasna Field California: Potential OOIP
Total OOIP (MMbbls)
1600 1500
1400
1200
Million Barrels
Total 1000
Porosity 800
volume 600 510
400 310
200
0
270 acres 450 acres 1350 acres
Recovery Potential (MMbbls)
120
100
Million Barrels
80
70
60
40
35
23
20 21
12
7 14
4.2 7
0
270 acres 450 acres 1350 acres
RF: Recovery Factor 27% RF 30% RF 45% RF
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9. HUASNA FIELD:Tm Structure - Zoom
CLOSURE SIZE POTENTIAL
3000 ac closure
Location of 20 ac Pilot Project
•Low geological risk
•2,500’ frac oil pay 450 ac closure
•6,200,000 bbls OOIP (frac. Por. only)
•Well IP expected >200 bopd
20 ac Pilot Project
20 Acre Pattern size
10 acre well spacing
SD#1 well with >2000’
74,400,000 bbls OOIP
– Matrix and fracture
Monterey Oil pay
porosity outside of pool closure
Source: data for 51-101
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10. HOW TO BUILD UP >0.5 BILLION BBLS OOIP at Huasna
Fracture Porosity and Matrix Porosity
Fracture Porosity only
Current N1-51-101 gives 2% porosity over 270 ac for
1300’ pay = OOIP 31,134,000 bbls with 14,000,000 bbls
recoverable (45% RF)
Same rock just different knowledge of
the Monterey Shale type oil pools
Matrix and Fracture Porosity gives 24% porosity over
270 ac for 1300’ pay = OOIP 373,062,860 bbls with
26,114,000 bbl recoverable (7% RF): 37,306,000 bbl
recoverable (10% RF).
Remember current NI 51-101 states closure is 450
acres so for 1300’ pay of matrix and fracture
porosity = OOIP 622,000,000 bbls.
Structure is larger then 450 ac.
VESTA CAPITAL CORP. COPYRIGHT 2010

11. Huasna Field: Net Production Forecast
5,000
4,500
Current EIR Limit Upside potential
4,000
based on
1,560 additional wells
3,500
drilled
3,000
bopd
2,500
2,000
1,500 2,900
1,000
910
500
400
-
2011 2012 201?
 Production growth can be financed from current financing and through
organic cash flow
 Excludes any development and acquisition opportunities that are being
pursued
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12. HUASNA HISTORY: PROVEN PRODUCTION
 Cold production: The discovery well drilled in 1939 to test a surface anticline cold
produced 9-13° API oil from fractured Monterey Shale
 EOR steam and hot water:
 2 wells drilled in 1960’s produced 22,741 bbls oil after a single non-continuous steam and
hot water injection
 A single well had production rates of 43 bopd for one year and a month high of 163 bopd
 An independent report* (NI 51-101 report) suggests:
 a best estimate recovery of 7,002 MSTB (net 4,551 MSTB)
 a high estimate of 14,004 MSTB (net 9,102 MSTB) and
 a low estimate of 4,201 MSTB (net 2,730 MSTB)
* For a 270 acre project, for fracture porosity only (the closure could be from 450 to >1350 acres)
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13. HUASNA FIELD: FUTURE STRATEGY
 Exploit with hot water injection;
 three well Pilot Project will initiate the Huasna project
 followed by up to 9 additional wells to ramp up productions
 Drill the first well to obtain data on fluid properties, fracture distribution, orientation and
fracture aperture size
 These data will be put into a computer simulation model to spot and drill the
next two wells
 For 6 to 12 months the pilot project is expected to produce data to facilitate the full scale
development of the Huasna Field starting with the next 9 wells
 Evaluate the results
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14. HUASNA FIELD: FIRST THREE WELLS
Potential Pilot Project Size and Location
Cross Section
A
20 Acre Pattern size
’
10 acre well spacing
6,200,000 bbls OOIP –
fracture porosity only
Producer
20 Acre Pattern size
10 acre well spacing 1st well
74,400,000 bbls OOIP
– Matrix and fracture
600
porosity feet Producer
Future
Producer
933 feet
Reserve Calculations
20 acres, 2500feet pay,
2% Porosity, 20% SW
A
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15. HUASNA FIELD: CROSS SECTION
Anticline
A Structural Section A-A’’
LH#1 UD#1
Elevation in
2000 Syncline SD#1 LH#2 A’
feet
Known Oil
zone +650
+781
+407 15,072 bbls oil over 12
months; average 41 bopd
+98 with one month 163 bopd
-120
Perf 900 to 2200; 4 day test 80- -321 fw
-368 TD 1340
?
100 bopd/170-200 bwpd
Perf 2200 to 3200; 9 day pump 40
bopd/260 bwpd fresh.
-893 7,669 bbls oil over 20
? Uknown potential
Unknown
months, but only produced
Potential
? -
1324
12 monhts
TD 2986 -
?
? -
-
1893
2052
1789
? Fractures No samples
Tentative O/W -
continue
No3123
contact shows
TD 5591
-4370 start of
samples
-4615 oil sst ?
No shows in
fractures or other
sandstones
-5316
1000’ ??
TD 7733 -6585 oil
sst
Base – Vaqueros
Fm
?
?
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16. HUASNA FIELD: PILOT PROJECT
 Drilling Permits issued – Nov, 2010
 First well drilled – Jan, 2011 Production Net Cumulative
 On production – Jan 2011 200 bopd 130 bopd
 2nd and 3rd well drilled – April 2011
 On production – May 2011 400 bopd 390 bopd
 Additional wells drilled (9 wells) from Nov 2011
 An additional 1600 to 1800 bopd gross ~1600
bopd
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17. PERMIT STATUS
 EIR finished and submitted – July 22, 2009
 Project Application and Supplement, Engineering Report, Botanical –
Biological Report, Geological Hazards Report, Acoustical Report, Air
Emissions Report, Cultural Resources Report, Hydrology Report, Traffic
Report, Title Reports and Easement
 Permits to drill from DOGGR expected Nov., 2010
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18. HUASNA FIELD: ESTIMATED COMPANY NET VALUE
Net Value based on Discounted Free Cash Flows*
Annual Discount Rate Company Net Value
%
(Figures in $US millions)
o 295.2
5 183.9
10 122.6
15 86.5
20 63.9
•Above figures have been adjusted to represent the stake of 65% (Unadjusted for risk)
•Based on Arithmetic Average of low, best and high estimate
•Figures based on NI 51-101 Report and consists only of 270 acres closure and only the fracture porosity is addressed
VESTA CAPITAL CORP. COPYRIGHT 2010 18

19. HUASNA FIELD PROJECT:
CASH FLOW SCENARIO ANALYSIS
PV of Free Cash Flows (Sensitivity Analysis):
Figures in Million USD*
Discount Rate Best Estimate Low Estimate High Estimate
0% 246.7 114.9 542.1
5% 157.4 139.0 344.8
10% 108.5 96.8 237.7
15% 79.5 71.4 172.8
20% 61.1 55.1 132.5
25% 48.7 44.1 105.7
30% 40.0 36.3 86.8
* Above calculations are based on 65% projected stake in the company’s name, before tax
Variable expenses for cash flow purposes have been increased on pro rata basis
These data are only for the 270 acre closure and only the fracture porosity was addressed
VESTA CAPITAL CORP. COPYRIGHT 2010 19

20. Additional Opportunities-
Bypass Pay Zones
 In Canada pursue with new technology abandoned or suspended oil fields that have
had a history of low recover.
 In California 6 bypass pay zones high graded from hundreds of leads, both light and
heavy oil;
 mainly shallow reservoirs with potential confirmed by other data
 average size pool will be 1 to 3 million bbls BOE
 average well production will be about 50 bopd and 100,000 bbls recoverable oil.
 John Master’s larger prospects in the USA – in the evaluation process
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21. Transaction Structure
Vesta Capital Corp. (Capital Pool Company – (VES – TSX.V))
Qualifying Transaction is completed and Vesta will be renamed United
Hunter Oil and Gas Ltd. at the AGM and is a business combination with
United Hydrocarbon Corporation and the share purchase from 2 other
companies of an aggregate 65% interest in Excelaron LLC (Huasna Oil
Field). $9,000,000 Canadian were raised.
Basic Shares Exchange Ratio Final Shares Warrants FD Shares Percentage
Vesta 6,303,000 1.000 6,303,000 580,000 6,883,000 5.5%
UHC 22,500,000 1.7754 39,946,721 39,946,721 32.1%
4% Interest Acquisition 2,253,001 1.7754 4,000,000 4,000,000 3.2%
Financing Consulting fee 5,746,999 1.7754 10,203,276 10,203,279 8.2%
Total Post-Financing 36,803,000 60,453,000 580,000 61,033,000 49.0%
Financing 45,000,000 1.3300 59,850,000 3,600,000 63,450,000 51.0%
Total Post Financing 81,803,000 120,303,000 4,180,000 124,483,000 100.0%
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22. Use of Proceeds
First Production
CDN$9,000,000
(Net $8,280,000)
 Huasna: drill 3 wells, temp. facilities, 6 month op $2,000,000
 Acquire and drill 2 by passed California or Canadian prospects $1,000,000
 G&G development of John’s prospects $500,000
 Huasna: drill 4 additional wells, perm. facilities $3,000,000
 Acquire and drill 2 more by passed California or Canadian prospects $1,000,000
 Acquire land JM prospects and/or other ops $780,000
TOTAL EXPENDITURES $8,280,000
• maximum $9MM raised objective is net 800 bopd Huasna & 150 bopd light oil other prospects
and be positioned in an additional larger play (all points above)
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23. Investment Summary
Experienced management team with 30 years of experience
 Past producing oil field asset in California (65% working interest in the
Huasna Field) located north of producing giant oil fields.
 Low risk, development opportunity at Huasna with a short time to
production (by Q4 2010)
 Huasna has significant upside potential beyond the resource defined in the
current conservative 51-101 report
 Inventory of larger concept prospects generated by John Masters
 Additional low risk, by-pass pay opportunities in California and Canada to be
pursued concurrently
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24. CONTACT INFORMATION
Vesta Capital Corporation Contacts
Dr. Arthur Halleran CEO – 403-667-4941
arthur.halleran@yahoo.ca
Head Office Address:
Suite 310 Brisco Capital Partners Corp.
700 – 4th Avenue SW Scott Koyich President – 403-262-9888
skoyich@briscocapital.com
Calgary, Alberta
Canada T2P 3J4 Graeme Dick – 403-561-8989
graeme@briscocapital.com
VESTA CAPITAL CORP. COPYRIGHT 2010 24