1. October 2005 Corporate Presentation Investing our shareholders capital in profitable oil and gas projects

2. EXPEDITION ENERGY INC. Disclaimer This information contains forward-looking statements (forecasts) under applicable securities laws. Forward-looking statements are necessarily based upon assumptions and judgments with respect to the future including, but not limited to, the outlook for commodity markets and capital markets, the performance of producing wells and reservoirs, and the regulatory and legal environment. Many of these factors can be difficult to predict. As a result, the forward-looking statements are subject to known or unknown risks and uncertainties that could cause actual results to differ materially from those anticipated or implied in the forward-looking statements.

3. EXPEDITION ENERGY INC. Executive Overview  A junior Alberta oil & gas company positioned to take advantage of current high energy prices  Optimizing core assets to fund new exploration and development in selected geographic areas  Currently optimizing lands and prospects in Southern, Central Alberta and West-Central Sask.  Production rate approx. 400 BOE per day  Additional production expected with successful completions  Undertaking to drill 9 wells to year end 2005  Currently trading under NAV $0.73/sh  Publicly listed TSX Venture Exchange symbol XPD

4. EXPEDITION ENERGY INC. Board of Directors Scott St. John – President & CEO Scott St. John – President & CEO  Expedition Energy Inc., Manna Operations Ltd.  Formerly President of Mesquite Exploration Ltd., Keatten Resources Ltd.  Current or past director of Mesquite Exploration Ltd., Keatten Res. Ltd., Nova Paradigm Solutions Inc., Manna Operations Ltd. Bill Guinan – Corporate Secretary Bill Guinan – Corporate Secretary  Partner, Borden Ladner Gervais LLP  Current or past director of several successful oil & gas companies, including Celtic Exploration Ltd, Geocan Energy Inc. and Genesis Exploration Ltd. Peter Gross, P. Eng. Peter Gross, P. Eng.  40 years of oil & gas experience  Formerly Chief Operating Officer of Viking Energy Royalty Trust  Director Technicoil Corporation, Trinidad Energy Services Income Trust Cameron Millikin Cameron Millikin  Director and Chairman of Bay Mount Capital Resources Inc., Director of Big Rock Brewery Income Trust Steve Burtt CA. Steve Burtt CA.  24 years of industry experience  Former CFO at Caribou Res., Macon Res., Battle Creek Developments, Strike Energy  Current Director at Saxony Petroleums

5. EXPEDITION ENERGY INC. Key Personnel Scott St. John – President & CEO  26 years of oil & gas operations & corporate experience  Mesquite Exploration, 40 BOE per day to 1,835 BOE per day, 3 years  Sold in 2002 for $48.5 million Alan R. Bamsey, P. Eng. – Vice President Operations Alan R. Bamsey, P. Eng. – Vice President Operations  28 years of oil and gas operations experience at various levels  Most recently with Lexxor Energy Inc. as VP Eng. and Ops. Lexxor grew from 900 boepd to 2500 boepd in a 2 ½ year period prior to merging with Sine Energy in Sept/03  Founders Energy (Provident), Chevron Canada Resources Neil G. Burrows, CMA – Chief Financial Officer Neil G. Burrows, CMA – Chief Financial Officer  19 years of experience with junior oil & gas companies, both public and private  Addison Energy Inc., Pogo Canada Ltd., Granger Energy Corp., Remington Energy Ltd

6. EXPEDITION ENERGY INC. Key Personnel Tom J. Donaghy, M.Sc., P. Geol. – Vice-President of Exploration & Development Tom J. Donaghy, M.Sc., P. Geol. – Vice-President of Exploration & Development  28 years experience in the Western Canadian Basin  Viking Energy Trust, Wiser Oil Comp., Canor Energy Ltd., and Unocal  Managed reporting, preparation of budgets, exploration direction and multidisciplinary staff to execute up to $74 mm capital programs Tes Yemane, PhD, P. Geol. – Senior Geologist Tes Yemane, PhD, P. Geol. – Senior Geologist  13 years experience nationally and internationally  7 years Murphy Oil  Pan Canadian, Pacific Cassiar Ltd.  Yemen, Ethiopia and Wyoming USA Karen Dowling – Land Consultant Karen Dowling – Land Consultant  20 years experience with private and public oil & gas companies, Chauvco Res., Mesquite Exploration, Nu-Sky Energy, Devlan Exploration, Denim Energy

7. EXPEDITION ENERGY INC. Business Strategy  Developing core areas based on resource potential, drilling depth and competitive advantage  Gas oriented (now 75% gas weighted)  Land purchases in new and existing core areas  Receptive to industry partnerships, including joint ventures and farm-ins  Seek accretive property acquisitions or swaps to optimize assets in core areas

8. EXPEDITION ENERGY INC. Core Area Strategies  Targeting specific reservoirs and geological trends known to be economic  Existing infrastructure present to aid in quick cash flow  Systematically pursuing farm-in or crown land opportunities  Growth potential to 1,000 BOEPD per area

9. EXPEDITION ENERGY INC. 2004 Results Capital Expenditures $4,714,615 8 of 9 Wells Cased and Completed 89% P+Pr Reserves 679,000 boe. NPV@10% $8,970,000 Res. Adds of 598,000 Boe Proved + Prob. $9.02/Boe Proved $11.25/Boe Adding 255 BOEPD $18,488/Boe 8700 Acres Undev. Land $1,300,000 Seismic & Facilities$820,250 Net Asset Value $11,090,250

10. EXPEDITION ENERGY INC. 2005 Results Capital Expenditures $3,999,741 3 Wells Drilled and cased (1.13 net) $2,004,690 Facilities $1,663,969 Seismic $40,651 Land $290,431 Reserve Adds 490,000 boe 10,000 Acres Undev. Land and Seismic $2,000,000 Current production approximately 400 boepd GLJ Sept. 1/05 Report NPV 10% P+Pr. $16, 378,000

11. EXPEDITION ENERGY INC. Current Production Current Heavy Oil (bbls/d)49 Light Oil & Ngls (bbls/d) 54 Gas (mcf/d)1780 Total (boepd 6:1) 400 Q4 Drilling Underway

12. EXPEDITION ENERGY INC. Highvale, Alberta  50% W.I. 50 km west of Edmonton  Production currently 126 mcf per day or 21 BOEPD net  1 prospect for Mannville, Belly River, Edm. Sands  Successful re-completion of Edmonton Sand zone

13. EXPEDITION ENERGY INC. West-Central Saskatchewan  Heavy Oil Area  50% working interest  Current Prod. 49 bpd net  1 horizontal well drilled  1 horizontal, 2 vertical locations programmed  Risk production adds of 80 boepd net  Reviewing new opportunities based on seismic, well results and land deals

14. EXPEDITION ENERGY INC. Medicine Hat  8 1/4 section farm-in, 41 section AMI  2 wells drilled, 55% WI in 15 1/4 sections, earned and purchased, 1 Bow Island gas well 80 mcfpd or 13 boepd net  2 exploration prospects on earned and AMI Lands.  1 well drilled in Q3, D&A  2 additional sections purchased based on seismic anomalies  Property currently under review with partners

15. EXPEDITION ENERGY INC. Nevis, AB  Coal bed Methane, Horseshoe Canyon, Edmonton and Belly River sand, Mannville Coal potential, 100% WI  Drill 4 wells fall 2004, on production at a restricted rate of 800 mcfpd, 80% capacity in Oct/05.  4 additional wells to be drilled in Q4  Projected Nevis 2005 exit production 1,600 mcfpd, (265 boepd)

16. EXPEDITION ENERGY INC. Threehills, Alberta  Successful farm-in and land purchases to accumulate 5 sections (Avg.WI. 92%) multiple horizons  2nd well drilled in late 2004, now tied in and on stream at 140 mcfpd net  Current area production 32 BOEPD net  1 well planned Q4 2005, will test CBM, Belly River and Mannville formations

17. EXPEDITION ENERGY INC. West-Central, AB Ferrier  Purchased 50% WI two sections  Area targets; Belly River, Cardium, Viking, Mannville, Rock Creek and the Elkton/Shunda. 1-2 mmcfpd gross plus 25-50 bpd Ngls is typical from these wells. One well drilled, completed and tied-in.  Encountered extension of a large Mississippian gas field.  Second well planned in Q4  Operated property, existing area infrastructure and capacity  Lands posted for future land sales based on 3D seismic Deanne Participated to Non-op 20% WI. Completion and testing underway

18. EXPEDITION ENERGY INC. Share Capital and Cash Position XPD Current20,925,598 Directors & Management10.6% Fully Diluted22,644,098 Options avg. exercise price $0.45 $773,000 Bank debt($2,300,000) Equity financing in progress $5.0M 9,090,909

19. EXPEDITION ENERGY INC. CapEx Forecast 2005 2005 Land/Seismic$2,300,000 Drilling/Comp. $6,700,000 Facilities$2,000,000 AcquisitionsNil Total$11,000,000

20. EXPEDITION ENERGY INC. CapEx Forecast Assumptions Remainder of 2005 WTI Oil ($US)$55.00 Heavy Oil $36.00 Natural Gas$7.70 Cdn Dollar (US)$0.82 Int. Rate – P+3/4%5.0

21. EXPEDITION ENERGY INC. CapEx Forecast 2005 Op. cost/boe$9.75 Royalty rate (net of ARTC)19% Admin. Cost/boe$9.00 forecast Dec. 2005 $5.20

22. EXPEDITION ENERGY INC. CapEx Forecast 2005 Operations cash flow $2,000,000 Cash flow per share$0.10 4th. Q Annualized CF$4,455,000 4th. Q Annualized CF/Share$0.16

23. EXPEDITION ENERGY INC. 2005 Year End Drilling Program  Drilling:  3 development heavy oil wells  7 development gas wells  1 exploratory well  70% average working interest  Potential risked production adds 370 boepd  Drilling, comp. equip & tie-in $5,200,000  Land & Seismic $2,000,000

24. EXPEDITION ENERGY INC. Investment Highlights  Investment opportunity in a junior oil & gas company  Proven management team with success in building shareholder value  Growth through re-deployment of cash flow and capital into new high potential areas  Acquired lands and generated prospects in Southern, Central Alberta and West-Central Saskatchewan  Trading under current NAV $0.73 per share  Forecasted Q4 annualized 2005 Cash flow $0.16 per share  Publicly Listed TSX Venture Exchange symbol XPD

25. October 2005 Corporate Presentation Investing our shareholders capital in profitable oil and gas projects