Full Circle (FC) Energy Ltd Full Circle (FC) Energy Ltd. Opportunistic Acquisition in a Proven Field

Why Invest? High ROR, high value opportunity (potential for 300% ROR on new wells) Opportunistic Acquisition (successful crown land bid 6th Feb, 2018) Offsetting production directly to the North Low cost oil development: single well battery, vertical wells, trucked oil Rapid execution from planning to production Repeatable upside potential Low commercial risk, profitable at US $40 WTI Operations in an oil friendly jurisdiction (Saskatchewan, Canada) Near term monetization / liquidity event into public company Holds prospect of investment multiples Eliminated “Low geological risk” – seems too subjective

SW Saskatchewan Oil Exploitation Summary Potential for 300% before tax ROR on new drills High permeability shoreline reservoir exploitable with vertical wells Reservoir mappable with 3D seismic Secondary recovery potential with waterflood Medium gravity 22 API oil Large tracts of open crown land on trend Established offsetting production Bypassed pay opportunities along a 40 mile corridor Year round access in a low op-cost environment

Full Circle acreage Gardenhead Upper Shaunavon pool Currently producing 429 bbl/d, 4.4 MMbbl total oil produced Acquired lands fall along a Upper Shaunavon shoreline / beach trend over 40 miles (64km) long, mostly open crown Shoreline / Beach Trend Next slide zoomed in area 6 miles, ~10km

6 sq. miles between known production Full Circle lands, 6 sq. miles between known production T6 Existing Upper Shaunavon producer 125,000 bbl total oil Held Crown Husky Freehold Proprietary 3D Seismic Area T5 Potential Oil Pool Outline Shale plug Abandoned well 8-3 3m bypassed pay Abandoned well 16-3 55,000 bbl 1 mile; 1.6km R23 R22 R21

Potential new well location T6 Full Circle lands (6 secs) Existing Upper Shaunavon producer 125,000 bbl total oil Farm-in lands (1.5 secs) 100% WI, 7.5% GORR Area of Mutual Interest lands (4.8 secs) 75% WI T5 Proprietary 3D Seismic Area R22W3 1 mile

3D Seismic on Farm-in and AMI lands: Isochron Hotter colours = thicker A measurement (in milliseconds) of Upper Shaunavon thickness Thickness increases occur in a trend (ancient shoreline) and interpreted to be related to thickening of the reservoir sand Thick areas appear to extend south onto Full Circle land Seismic Outline Full Circle Land

3D Seismic on Farm-in and AMI lands: Trough Amplitude Hotter colours = higher amplitudes Higher amplitudes suggest higher porosities in the reservoir sandstone The higher amplitude readings correlate well with the previous isochron map High amplitude areas extend south onto Full Circle land Seismic Outline Full Circle Land

FC Energy Ltd. Next Steps / Value Development Plan Acquire 6 section license Complete Design 3D seismic program for FCE acreage Execute Farm-in agreement with known drilling location Environmental assessment and surface access for 3D June 2018 Transaction into pubco. (monetization / qualifying transaction) July 2018 Drill Upper Shaunavon Farm-In well August 2018 Acquire 3D seismic data on FCE acreage August 2018+

Knollys – Capital Requirement $1 million capex Drill, complete, equip well #1 - $695,000 Six section 3D program - $315,000 Well Number 1: projected economics 1m pay: 2m pay: $695K capex 83% before tax ROR 299% before tax ROR BT NPV10 $2.0 million BT NPV10 $4.2 million < 1 year payout <1 year payout

FC Interim Board & Consultants Chris Berlet BSc, CFA Director & President Mr. Berlet has several years of capital market and mineral project development experience. Dave Manuel, P.Geol. Director, Independent Mr. Manuel is a professional geologist with over 30 years of exploration and development experience in the Western Canadian Sedimentary Basin (WCSB). He has significant experience in prospect generation, production, development and enhanced recovery projects. Mr. Manuel is qualified in property and reserve evaluations and has consulted extensively with several public oil and gas companies. He served as VP Exploration and was a Co-Founder of Eastend Energy Ltd., growing production to 700 BOE/D through exploration development drilling, and has served as VP Exploration for a TSX listed Oil and Gas Corporation adding 2,000 BOE/D and 35 BCF of reserves over 2 drilling seasons. Chris Cheng, P.Eng. Director, Independent Mr. Cheng is a professional engineer with more than 10 years of upstream oil and gas experience in the WCSB. He has spent his last 4 years working in New Ventures, Technology Development and Enhanced Recovery conducting research and development for Devon Energy Corporation. Mr. Cheng has experience in heavy oil, conventional oil and waterflood, deep multi-zone gas, shallow gas, and coal bed methane. Robert Finley Director, Independent Mr. Finley has several years of corporate development experience in North America and Asia. Devin Swanson, C.E.T. Consultant Mr. Swanson has more than 25 years of production engineering, completion and optimization experience in the oil and gas industry. Mr. Swanson has extensive experience in well evaluation and optimization with a specific focus on moving producers to become lower cost operators and optimizing extraction methods for oil and gas properties.

Appendix New Vertical Well Capital Costs New Well 1m and 2m Pay Type Curve New Well Cash Flow Model (1m Pay) New Well Cash Flow Model (2m Pay) Combined Primary/Waterflood Recovery Factors

1.New Vertical Well Capital Costs 6 Day Drill Drill & Abandon: $349K incl. $15K contingency (~4.5%) Drill & Case: $425K incl. $15K contingency (~3.7%) Completion $120K incl. $5.5K contingency (~4.6%) Surface Equip $150K for pumpjack and tankage All In: $695K with room to trim boilers, swabbing time, one day of drilling, geological supervision

2.New Well 1m and 2m Pay Type Curve

3. New Well Cash Flow Model (1m pay)

4. New Well Cash Flow Model (2m pay)