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

2. 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

3. 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

4. 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

5. 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

6. 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

7. 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

8. 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

9. 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+

10. Knollys – Capital Requirement
$1 million capex
Drill, complete, equip well # $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

11. 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.

12. 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

13. 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

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

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

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