UNX Energy 2011 Corporate Presentation

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Corporate PresentationNovember 2010


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Forward Looking Statements

This presentation contains forward looking statements and factual information that are current as of the

date the presentation was originally delivered. UNX Energy Corp. disclaims any intention or obligation

to update or revise any forward looking statements, whether as a result of new information, future

events or otherwise. Forward looking statements include, but are not limited to, statements with respect

to the timing and amount of estimated future exploration, success of exploration activities,expenditures, permitting, and requirements for additional capital and access to data. Forward looking

statements involve known and unknown risks, uncertainties, and other factors which may cause the

actual results, performance or achievements of the Company to be materially different from any future

results, performance or achievements expressed or implied by the forward looking statements. Such

factors include, among others, risks related to actual results of current exploration activities; changes inproject parameters as plans continue to be refined; the ability to enter into joint ventures or to acquire or

dispose of properties; future prices of oil and gas; accidents, labor disputes and other risks of the oil

and gas industry; ability to obtain financing; and delays in obtaining governmental approvals of

financing.


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UNX is exploring the South Atlantic MarginBasins offshore Namibia

UNX has interests in over 51,000 gross km2 ofhighly prospective exploration rights

Brazil and Namibia are on oppositemargins of the South Atlantic

Common geological history and similarpetroleum system

Four recent giant discoveries reported indeeper horizons within the Santos Basin,

Brazil Tupi (oil and natural gas) Carioca (oil and natural gas) Jupiter (natural gas and condensate) Abare Oeste (oil and natural gas)

Combined, the above discoveries representthe worlds largest find since the 1970s

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Namibia The Next Oil Frontier


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Stable democracy: gainedindependence from South Africa in1990

Area slightly smaller than theprovince of British Columbia, Canadaand 1.5 times the area of France

Population: 2.1 million people,median age 21, 37% urban

Capital city is Windhoek

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Country Details Namibia

BBB Country Risk Profile(Source: The Economist, 2010)

Main Industries: tourism, mining,fishing and ranching

Inflation rate, roughly 8% (2009 est.)

GDP US$13.6 billion (2008)

Existing multinationals in country:Petrobras, Anglo-American, Areva,DeBeers, RioTinto, Paladin, Tullow,

Gazprom, BHP Billiton, and PetroSA Offshore petroleum fiscal regime:

35% federal tax and flat 5% royalty


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Offshore Leases Namibia and South Africa

UNX Energy Interests

AlphaPetro

Enigma/Chariot

Arcadia/Tower

Namcor

Pancontinental Oil & Gas NLLabrea/HRT

Maurel n Prom - Recon

Enigma/Chariot/Petrobras

Namibia Offshore Land Holdings

NW South Africa Offshore Land Holdings

PetroSA

Shell

Forest

BHP

Kudu Production Licence Gazprom/Tullow

Namibia

Angola

South Africa

Botswana


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90% WI Blocks: 2713A&B, 2815, 2816 & 2915

Total area - 26,988 km2 (6,666,036 acres) UNX Operated - 90% working interest

Large features mapped on Blocks 2713A

NI 51-101 Prospective Resource - Block2713A

2.39 Billion BOE unrisked,

567 Million BOE risked

Robust risked economics, supported bysizeable resources, high probabilities of

success Adjacent to blocks currently being

explored by majors

2D seismic data purchased, 3D seismicsurvey planned, looking to secure farm-outpartners

100 km


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40% WI Blocks: 2813A, 2814B & 2914A

2813A 2814B

2914A

Total area - 15,382 km2 (3,799,354 acres)

UNX - 40% working interest partners are:

HRT Oil & Gas (operator) 40%

Acarus Investments (Proprietary) Ltd.20% carried interest

Blocks are key to UNXs regional landposition and strategic partnerships

Partnership with HRT O&G provides:

Access to the worlds leading geoscientists

on the South Atlantic Margin Accelerated data gathering, interpretation

and mapping Reduced net risk capital exposure Proven techniques to optimize the quality of

the data Comprehensive technical interpretation Adds data room flow from southern

hemispheres majors


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2.7% Carried Interest Blocks: 1711A&B

Total gross area 8,903 km2 (2,199,041acres)

UNX - 2.7% non-operated carried interest

Kunene #1 well drilled and cased to 5,050metres

PetroAlliance (Subsidiary of Schlumberger)has identified a potential gas zone ofinterest in the Kunene well.

Licence extended on April 5, 2010 for anadditional 2 years

100 km


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Maximizing the Probability of Success

The Probability of Success (POS) on a well is a function of the following variables:

Reservoir a proper porous rock with adequate permeability andporosity to allow for the accumulation and production ofhydrocarbons

Trap the hydrocarbons are buoyant and have to be trapped withina structural (anticline, fault block) or stratigraphic trap

Source Rock a mature source and timing sequence of migration is alsocritical as the trap must predate the migration

Seal Integrity an impermeable sealing zone, often a shale sequence,

which must also predate hydrocarbon migration and retainintegrity over time

UNX also benefits from the depth of experience in the South Atlantic Margin from:

HRT /IPEX significant and successful experience in the South AtlanticMargin using investigative techniques that have proven

additive to the POS9


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Reservoir


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RESERVOIR Historical Exploration Results

Kudu 9A-1 (2814A) 167m Chevron 1973 Orange 4536 mbKBGas & Oil

shows

good

sandstonegood good

Kudu 9A-2

Kudu 2(2814A) 168m Swakor 1987 Orange 4505 mbKB

Gas & Oil

shows

poor

sandstonegood

stratigraphic

poor

Kudu 9A-3

Kudu 3(2814A) 166m Swakor 1988 Orange 4522 mbKB

Gas & Oil

shows

good

sandstonegood good

Kudu - 4 2814A 176 m (MSL) Shell 1996 Orange 4719 mbKBGas & Oil

shows

good

sandstonegood good

2814/11-4

Kudu - 52814A 162.9m (MSL) Shell 1998 Orange 4898 mbKB

Gas & Oil

shows

good

sandstonegood good

2814/11-5

Kudu - 6

2814A 171m (MSL) Shell 2002 Orange4725

Mahbdf

Gas & Oil

shows

good

sandstone

goodstratigraphic

poor2814/7-2

Kudu - 72814A 179 m (MSL) Shell 2002 Orange 5275 mbKB

Gas & Oil

shows

good

sandstonegood

stratigraphic

poor

Kudu - 8Kudu

Production179 m Tullow 2007 Orange 4725m

Gas & Oil

shows

good

sandstonegood

stratigraphic

poor

1911/15-1 1911 489 m (MSL) Norsk Hydro 1994 Walvis 4586 mbKBOil shows in

core 4

good

carbonatefair poor

1911/10-1 1911 631m (MSL) Norsk Hydro 1996 Walvis 4185 mbKB Oil showsgood

sandstonefair poor

* 2012/13-1 2012 650m (MSL) Sasol 1995 Walvis 3712 mbKB Oil showsgood

sandstonegood poor

* 2213/ 16-1 2213 240m (MSL) Ranger Oil 1995 Walvis 2627 mbKB Oil showsgood

sandstone

poor poor

2313/?5-1

Shark 12313 ?? Shell 1998 Luderitz 2588 mbKB Oil shows

good

sandstonepoor poor

2513/8-1 2513 243m Norsk Hydro 1998 Luderitz 2423 mbKBOil shows in

core 1

good

sandstonepoor poor

2815/15-1 2815 177m (MSL) Chevron 1996 Orange 4751 mbKBGas & Oil

shows

tight

sandstonefair

stratigraphic

poor

Field & Lab 2010

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The Gas-Condensate PetroleumSystem from Kudu Field

Kudu

Existing wells all drilled onshelf, where there is no trap

New wells need to target syn-riftwhere proven source existsbelow Barremian shale seal.

Turonian

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SourceRock


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Mello (2000)

BRAZIL

AFRICA

Proterozoic/Paleozoic

Paleozoic

Proterozoic/Paleozoic

Paleozoic

Namibia

All wells drilled offshoreNamibia had oil shows,(confirmed by biomarkerand diamondoid studies)

This analysis confirmsidentical age and rock typeto Brazil

SOURCE ROCK Correlation:Brazil to Africa

Marine Deltaic Tertiary

Lacustrine Saline Oil Type

LacustrineBrackish/Saline Oil Type

Sedimentary Basins

Marine Anoxic Albian-Cenomanian

Esprito Santo

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SOURCE ROCK Oil Seeps, SatelliteSurveys in the Orange Basin

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What is Our Probability of Success?

Reservoir sediment deposition moves from onshore to offshore(east to west), and sediment quality volume is highsuggesting reservoir characteristics in deeper watershould be very good. Confirmed in well data andinferred in seismic

Trap clear from seismic and petroleum model that trappreceded petroleum migration. Trap also evident onseismic

Source Rock source rocks in the South Atlantic margin are prolific.Two source rocks confirmed in Namibia. Oil slicks, oilsamples extracted from the nearby Kudu gas field,and oil stains in all offshore wells confirm presence ofmature and active petroleum system

Seal Integrity shale sequence is very thick in the deeper water (inexcess of 200 metres) and does not appear breached

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Block 2713A Prospective ResourceSummary

Description P90 (Low Est.) P50 (Best Est.) P10 (High Est.) Mean Est.

Unrisked Recoverable Oil (bbl - 1000s) 1,444,765 2,104,579 3,065,903 2,197,245

Unrisked Recoverable Solution Gas (BCF) 370.0 911.3 2,244.5 1,167.0

Risked Recoverable Oil (bbl - 1000s) 342,577 499,029 726,974 521,002

Risked Recoverable Solution Gas (BCF) 88.4 217.6 536.0 278.7

Gross Unrisked BOE(BOE - 1000s, Gas to BOE at 6:1)

1,506,435 2,256,456 3,439,986 2,391,742

Gross Risked BOE(BOE - 1000s, Gas to BOE at 6:1)

357,305 535,301 816,314 567,452

Note: the numbers in the table are the statistical aggregate calculations presented in thereport. The full report should be reviewed and is available at www.sedar.com

Source: DeGolyer & MacNaughton (NI 51-101 Compliant)

D&M Estimate:

23.7% POS17


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Of the Four Basins in Offshore Namibia, theOrange Basin is of Great Interest and Potential

Namibias only discovery to-date (Kudu), confirms many of thegeologic conditions required for success

Petrobras farm-in on Chariot, being immediately east of the UNX2713A Block

Other oil and gas companies are active in the Orange Basin (Shell,Tullow, Forest, Gazprom, Petrobras, BHP Billiton, and PetroSA).

Kudu commercialization initiatives bring options to UNX (andpotential promoting partners) if gas is discovered

On the shallow water margin, makes a gas discovery much more economic

Proximity to Orange River is mitigating to POS risk, especially incategories of seal and reservoir

Reasonable well control and technical data as the majority ofwells drilled offshore Namibia are located in the Orange Basinoffsetting UNX land holdings

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UNX Strategy

Near-Term:

Set-up data room for 2713A, 3D seismic acquisition

Actively pursue farm out partners for both seismic acquisition and the drillingof a well

Implement further work programs, detailing the mapped features and addingto prospect inventory

Acquire 3D seismic during the first half of 2011

Mid-Term:

Balance the Companys risk profile

Look for undercapitalized development/exploitation assets

Continue to look for additional opportunities to add to prospect portfolio

Long-Term:

Develop a company that delivers high level of economic growth throughprudent capital allocation resulting in superior economic returns

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Senior Management Team

Gabriel Ollivier, Director, President and CEO Former Managing Partner and Institutional Salesman at Paradigm Capital Inc., and former Partner and Institutional Equity Salesman atCormark Securities Inc.

Over 10 years of senior management experience in the oil and gas industry with Canadian Hunter Exploration Ltd, Crestar Energy Inc. andMurphy Oil Company Ltd.

Maria Elliott, Vice-President, Finance, & CFO Over 17 years of finance and financial reporting expertise specific to oil and gas Set up reporting systems, banking arrangements, internal controls, etc., in many international jurisdictions for activities specific to oil and gas

exploration, development, and production

Former Chief Internal Auditor, and Controller of Sherritt International, a major producing company in Cuba

Brad Holub, Chief Operating Officer More than 15 years experience in the energy sector as a professional engineer Most recently held a senior management position with Sherritt International, managing all aspects of operations including production, facilities,

drilling, supply chain, IT and field work Has developed and driven numerous key strategic initiatives as well as operational optimization and efficiency projects

Curtis Evert, Vice President Exploration and New Ventures 25 years of experience as a professional geologist in the energy sector

Extensive experience in international oil and gas exploration and development, and an in-depth understanding of offshore drilling and fielddevelopment

Previous management roles with Marathon Canada, Sherritt International Corporation, and most recently managed several large offshoredeepwater discoveries made by Husky Energy Corporation in the South China Sea

Mark Monaghan, Director & Executive Director, Business Development Over 17 years of institutional equities and public company experience Experience in corporate finance, corporate development, merchant banking, executive management and board appointments Most recently was President of Quest Securities, with previous senior roles at TD Securities, Deacon Capital, CT Securities, and has also been

a strategic advisor to several publicly listed companies

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Non-Executive Directors

Duane Parnham, Chairman Founder of Forsys Metals Corp Namibia-based resource company Extensive experience working in Namibia Strong relationships and expertise earned over a 24-year career in the areas of: government relations, capital markets

and corporate management

Michael Black, Director Partner at Fasken Martineau DuMoulin LLP

Extensive legal experience in the energy sector, ranging from negotiation and drafting of international joint operatingand joint venture agreements, negotiation and execution of resource-based transactions, and other legal andcommercial matters specific to international jurisdictions

In the past five years has led over 50 merger and acquisition deals

Mark Frewin, Director Partner at McCarthy Tetrault Extensive legal and commercial expertise and a particularly strong background in dealing with international law Experience in Africa, with specific knowledge of the legal environment in Namibia

Knowledge Katti, Director & CEO of Kunene Energy (Pty) Ltd Over 10 years of experience in national and international exploration and government activities Strong resource to the company in terms of deal flow and strategic partnerships

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Non-Executive Directors

Donald Sharpe, Director Over 25 years experience as a professional geophysicist Started and developed his career at Suncor Energy prior to managing and serving as director of a

number of successful start-up companies including Gemini Energy Inc. and Velvet Exploration Inc.

Keith Turnbull, CA, Director Retired from KPMG as part of the accounting firms 12-member executive management team 38 year career in public practice including involvement in emerging international energy companies

Wide range of experience including financial reporting, taxation planning, corporate governance, internal controls,auditing, public disclosure and other assignments specific to oil and gas companies

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Summary

Exploring for sizeable oil targets, appealing to majors looking for new projects

Extensive land holdings 51,273 gross km2 (net 30,683) of exploration and carriedinterests

Mirror image to offshore Brazil (worlds biggest crude oil discoveries in past 30

years)

Angola (Namibias neighbour to the north) is Africas largest oil producer with

offshore reserves estimated in excess of 16 billion barrels

Probabilities of success - higher than normal

Certifiable potential resource for Block 2713A Strategic partnership with HRT Oil & Gas

Intentions for a 2011 data room Block 2713A

Strong management team and Board of Directors

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Corporate Data

Symbol North America - TSXV: UNX

Europe - Frankfurt:3U2A

USA - OTC Pinksheets: UPWRF

Share Price $3.97 (October 28, 2010)

Shares Issued & Outstanding 111,105,032

Fully Diluted 118,280,032

Cash on Hand $54 Million

Head Office Calgary, Alberta

Transfer Agent Computershare Trust of Canada

Legal Counsel McCarthy Tetrault, Calgary, AB

Auditor KPMG, Calgary, AB

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Contacts

Heidi Christensen Brown, Investor Relations

Telephone: (403) 218 2833

Email: [email protected]

David Feick, Investor RelationsTelephone: (403) 218 2839


Maria Elliott, Vice President, Finance and CFO

Telephone: (403) 984-6430

mailto:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]

UNX Energy 2011 Corporate Presentation

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