1. TARBLASTER ”DRY” RECOVERY AND UPGRADING OF OIL FROM OIL SAND Olav Ellingsen testing at Sintef Energy Research AS Nov. 2008 From sticky oil sand to upgraded oil and dry sand

2. THE BENEFITS OF THE TARBLASTER TECHNOLOGY Self-sustained with energy (ca. 12% of the recovered oil) Reduced CO2 emission – about 20 – 30% No water consumption Extraction and upgrading oil sand in one operation Reduce capital investments by at least 50% Production costs incl. CAPEX and OPEX about USD 22/bbl (current technology about USD 40/bbl) Scalability Increased value of oil by: Increased API from 8 to API 20+ (pumpable at API >15) Increased quality of the oil by reduced sulphur and metal content

3. OBJECTIVE Provide the industry with a “green” technology for harvesting the oil from oil sand Provide the industry with a “green” technology for harvesting the oil from oil sand Present issues to discuss: Present issues to discuss: Business modelsBusiness models Licensing Licensing Becoming an operator Becoming an operator Sale of plants Sale of plants Sale of the company Sale of the company

4. PRIME MARKET CANADA OIL SAND DEPOSITS

5. WHO WILL BE OUR CLIENTS 1. Present oil sand operators such as Suncor and Suncrude? 2. License holders which have not yet decided what technology to use 3. SAGD operators producing oil contaminated sand for the production of diluent oil We are open for any ideas that can help us in this respect

6. PRESENT/FUTURE TEAM Board: Solicitor Morten Borch, Norway Steve Kent, England Engineer Olav Ellingsen, Norway Economist Bjarte Sørebø Ellingsen, Norway Management: CEO Olav Ellingsen, Norway CFO Espen Rødaas, Norway Solicitor Morten Borch, Norway Future manage team will depend on the business model to chosen Spring 2009. We foresee that we will need to attract to the Board and the management expert(s) from the oil industry with vast international experience. What would be your input to us in this respect? Number of people? Potential candidates?

7. ACTIVITY PLAN 2009 Mass and energy balance test Staffing with technical personnel Workshop for CTOs from the oil sand industry in Canada 21.01.09 – technical assessment Business models Testing of SoundCrack and PlasmaCrack Testing of Estonian oil shale Pre-engineering of TB 2.000