bolivar

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.
March 2011
Bolivar Energy Corp.
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3. Overview (TSX-V: BVR)
• Experienced team with substantial previous success in Colombia
– Key members founded Prospero Hydrocarbons Inc., acquired by Alange Energy Inc.
(ALE:TSX-V) for $51mm on October 10, 2009
• Colombia is #2 onshore oil & gas exploration and production target worldwide(*),
and is one of the best fiscal regimes in the world for small oil fields
• Raised $6mm in non-brokered private placement in April 2010, and $21mm in a
bought deal in January 2011
• Interest in 2 exploration and production blocks with a sole focus in Colombia
• 35.0% interest in LLA-24 in the Llanos Basin
• Purchased Pacific Rubiales’ 32.5% interest in Arrendajo, Llanos Basin
(*)Fugro Robertson Limited's International New Ventures Survey 2009
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Bolivar Energy Corp.
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4. Management
John Moreland, BSc., P.Geol – President, CEO and Director
• Co-founder of Prospero Hydrocarbons Inc.; 35 years in international oil & gas exploration &
production including a period resident in Bogota; worked for BP, Suncor, Lasmo (in Colombia
now Petrobras) and Argosy (now Gran Tierra), and since 2002 has run a geological & project
management consultancy for Calgary based companies working overseas, including Global
and Petrominerales. Involved in discovery of Santiago Este, El Palmar, Los Trompillos,
Juncal, Purificacion, Venganza, Revancha, Guepaje, Guayuyaco and Inchyaco fields in
Colombia
Peter Argiris, CFA, – Chief Financial Officer
• Peter has worked in oil and gas research and financial analysis for over six years having
covered various subsectors of exploration and production companies including domestic, oil
sands and most recently companies with an international focus. He has worked for a number
of investment banks including Canaccord Capital, Macquarie Capital and Orion Securities
and prior thereto with RBC in wealth management. Peter holds the Chartered Financial
Analyst designation.
Juan Carlos Robles, MSc., – Country Manager Colombia
• Ex CEO of PetroSouth Energy, and Country Manager for Hupecol, Juan Carlos started work
with Hocol and then Amoco. He was responsible for the discovery of Hupecol’s Tambaqui
and Jaguar oilfields, and successfully managed his own exploration company promoting
blocks to various investors
March 2011
Bolivar Energy Corp.
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5. Board of Directors
Steve VanSickle, BSc., Chairman
• CEO of Fairborne Energy Ltd., Steve has an extensive background domestically and internationally for the
past 20 years with Amoco, Pan East Petroleum Corp., Canadian Midstream Services Ltd, and Duke
Energy Field Services.
John Moreland, BSc., P.Geol – President and CEO/Director
Greg Bay, B.Comm, CFA – Director
• Founding partner & CEO of Cypress Capital, Greg brings 25 years investment experience in the oil and
gas sector with Rhodes Denton, Nesbitt Thomson, Royal Trust, National Trust, & M.K. Wong & Associates
(HSBC Asset Management Canada Ltd.).
Keith Brown, B.Sc. – Director
• Consultant in reserve evaluation and management, Keith was a member of the committee which
developed the Canadian Oil & Gas Evaluation Handbook – the reference for Canada’s National
Instrument 51-101 which defines reporting requirements for public oil and gas companies. Keith has 40
years experience with RBC, Ryder Scott Company, and Petro Andina, now PAREX
David Robinson, B.Sc., MBA – Director
• Previous President of Benchmark Energy Corporation, David has been involved with major international
petroleum projects ranging from Sudan and Egypt to Kazakhstan
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Bolivar Energy Corp.
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6. Why Colombia?
• Possibly the best fiscal regime in the world for
small fields
• Royalty 8% (up to 8 mmbbls),
corporation tax = 33%, (no back-in)
• Government encourages foreign investment
• Substantial recent success (Llanos 3D 67%)
• Excellent petroleum geology fundamentals
• Little exploration and large remaining potential
• Extensive pipeline infrastructure
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• Independent regulatory authority
• Strong legal and regulatory framework
• Low cost of entry
• No signature bonus, modest minimum
work programs
• Ownership of crude and freedom to sell in
international markets
• No restrictions on repatriating profits
• Stable and growing economy
• Security situation has vastly improved

7. Two Llanos Basin Blocks
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Bolivar Energy Corp.
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1. LLA-24 (35.0% interest) - ANH 2008
contract. Operator is a private U.S.company.
Have acquired and processed 207km² of 3D
seismic. Permits acquired for first exploration
well. Tendering contracts with an expectation
of drilling in Q1/2012
2. Arrendajo (32.5% interest) - ANH 2005
contract. Purchased interest from Pacific
Rubiales (PRE) pending ANH and partner
approval. PRE will continue operating until
Bolivar qualifies under a delegated service
administration contract. Have shot 3D
seismic and expect to drill in 2012
LLA - 24
Venezuela
Brasil
Colombia
Llanos Orientales
Basin
Arrendajo

8. LLA-24 (35.0%)
March 2011
Bolivar Energy Corp.
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•35.0% interest in 147,000 acres (gross)
•Acquired 207km² of 3D seismic data in the southern
portion of the block
•Drilling of first exploration well expected to
commence in Q1/2012 and will test conventional
structural closure in C7 and Guadalupe and a
potential stratigraphic trap in the Mirador and
Ubaque/Gacheta
•Surrounded by high rate light oil production from
C&C, Petrominerales , Ramshorn, Remora, Alange
and Perenco. Wells produce> 1,000 bopd
•Multi-zone stacked potential in C5, C7, Guadalupe,
Gacheta and Ubaque Sandstones
•Recent success announced by Pacific Rubiales at
Guairuro-1 in CPO-6 highlights untapped
stratigraphic potential

9. Arrendajo (32.5%)
March 2011
Bolivar Energy Corp.
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•Purchased Pacific Rubiales’s (PRE) 32.5% operating
interest. Subject to ANH and private partner
approvals
•ANH contract dated December 16, 2005. Area is
31,606 ha (gross)
•Adjacent to production from Las Abejas, Chaparrito,
Los Toros, Palmarito, Sirenas, Corocora, Dorotea
•Offers multi-zone stacked potential in C5, C7,
Guadalupe, Gacheta and Ubaque Sandstones
•Mirla Negra-1 well drilled on the block proved oil in
C5 sandstones in 2008
•Acquisition of three 3-D surveys completed in early
2011
•Well in Q1/2012 will test either the Arrendajo Sur
lead, or the Yaguazo structure

10. Arrendajo – seismic map
March 2011
Bolivar Energy Corp.
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Slides obtained from Pacific Rubiales

11. Arrendajo - Arrendajo Sur lead
March 2011
Bolivar Energy Corp. (mapping by Pacific Rubiales Energy)
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•Arrendajo Sur lies on trend with
the Perenco discovery at Sirenas
•Also shooting 3D on northern
extension of Yaguazo, but a well
could be located on currently
available data if necessary

12. Acreage, Leads, Prospects and Prospective Resource
March 2011
* Bolivar Energy Corp. (Arrendajo prospective resource estimation from Pacific Rubiales Energy)
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Gross
Acres Net Acres
2011/12
Seismic Leads Prospects 2011 Drilling
Gross
Prospective
Resource
Mmbbls *
Net
Prospective
Resource
Mmbbls *
Chance of
Success
Net Risked
Prospective
Resource
Mmbbls
Arrendajo 78,098 25,382 1 5 1 1 12.92 4.20 0.67 2.81

13. Planned activity 2011-2012
March 2011
Bolivar Energy Corp.
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MinimumWork Commitment Block Q4/2010 Q1/2011 Q2/2011 Q3/2011 Q4/2011 Q1/2012 Q2/2012 Q3/2012 Q4/2012 Q1/2013 Q2/2013 Q3/2013 Q4/2013 Total
LLA-24 Well
Arrendajo Purchase 3D Well
Gross Cost ($mm) Block Q4/2010 Q1/2011 Q2/2011 Q3/2011 Q4/2011 Q1/2012 Q2/2012 Q3/2012 Q4/2012 Q1/2013 Q2/2013 Q3/2013 Q4/2013 Total
LLA-24 $3.50 $3.50
Arrendajo $6.50 $7.08 $3.50 $17.08
Net Cost ($mm) Block Q4/2010 Q1/2011 Q2/2011 Q3/2011 Q4/2011 Q1/2012 Q2/2012 Q3/2012 Q4/2012 Q1/2013 Q2/2013 Q3/2013 Q4/2013 Total
LLA-24 $2.45 $2.45
Arrendajo $6.50 $2.30 $1.14 $9.94
Total Quarterly $6.50 $2.30 $0.00 $0.00 $0.00 $3.59 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $12.39
Total

14. Capital Structure
March 2011
Bolivar Energy Corp.
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Existing Bolivar Energy Shares 232.3
January 2011 financing (including over-allotment) 124.8
Common shares outstanding 357.1
Benchmark Warrants (expire Sept.2012) 0.3
January 2011 financing warrants (assuming exercise) 62.4
Bolivar options 21.0
Total diluted post-amalgamation shares 440.8
(millions)
Note: Total share count may not add up exactly due to rounding

15. Investment Summary
• Portfolio of prospects with a view to using conventional Western
Canadian technology as a competitive advantage to unlock value
Example is 3D seismic for exploration in the Llanos Basin,
where success rates have increased to 67% from the 15%
experienced when using 2D data
• Partnered with large operator in Pacific Rubiales who has a
tremendous track record of operational success and adding
shareholder value
• Bolivar aims to balance exploration with production opportunities
• Current share price offers tremendous upside torque
• Bolivar is a Canadian public company listed as BVR on TSX-V
March 2011
Bolivar Energy Corp.
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16. March 2011
Bolivar Energy Corp.
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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