1. EUROGAS INTERNATIONAL INC. ANNUAL GENERAL MEETING June 15, 2009 CNSX: “EI”

2. Assets of the Company 45% participating interest in the Sfax Permit comprising 1 million acres 45% ownership of an offshore production platform

3. Eurogas International Inc. August 5, 2008: Eurogas International Inc. (EII) was launched as an independent company Each shareholder of Eurogas Corporation received one newly issued common share of EII for every five shares of the Eurogas Corporation shares held Eurogas Corporation holds Preferred Shares: face value $32.5MM EII was funded with $10 million in treasury On March 31, 2009, EII began trading on the Canadian National Stock Exchange (CNSX) under the symbol “EI”.

4. Sfax Permit Area

5. Ras El Besh 3 Exploration Wells REB3 drilled in 2008 as commitment well for the Sfax Exploration Permit Targeted the El Garia and Reineche carbonate formations down to 2300 m Drilling costs paid by farmin partner Results: El Garia oily but low permeability Reineche tested 28 0 API oil Drilled sidetrack: tested oil Re-processing of seismic required

6. Farmin by Delta Hydrocarbons April 2008: Delta farmed in for a 50% participating interest in the Sfax permit area and the production platform Delta commitment: spend US$125 million EII participating interest from 45% to 22.5% EII received US$ 11.2 million cash May 22, 2009: Delta exits after spending US$ 110 million - Delta exit terms: Eurogas participating interest returns to 45% - Delta responsible for 50% of abandonment costs at REB3 - Agreement to monetize production platform - Delta can recover up to $20 million from sale of equipment or oil - Delta retains 50% participating interest in Seawolf arbitration

7. Sfax Permit: a portfolio of prospects Reineche structures to follow up on REB3 - Cercina: 12 MM bbl oil recovered, 2500 bopd - Chergui: 88 bcf gas, 50 MMcf/d Ashtart satellites - Ashtart field: 330 MM bbl oil produced, 8500 bopd Salloum prospect - flow tested 1,800 bopd Jawhara prospect - flow tested 1,200 bopd

8. Exploration Program Geological studies - 3D basin modeling study - Reineche carbonate study - Bireno carbonate study Geophysical activity - Reprocess 2004 Sfax 3D survey - Reprocess 2007 Anadarko 3D survey - Reprocess 2007 Salloum 3D survey - Reprocess older 3D survey on Ashtart - Thin bed analysis on all seismic Reineche 2D seismic program depends on reprocessing results: likely 2010

9. Offshore Production Platform EII ownership: 45% of Innovative Production Systems Inc. Sold 50% to Delta for US$ 16.5 MM (gross) Repairs / modifications paid by Delta totalling US$ 13.6 MM 2009 Budget of $6MM to be spent on further improvements and refurbishment to prepare for lease or sale

10. 2009 Budget Summary for Sfax Permit Area Sfax Permit AreaUS$ 5.4 MM Delta spending in Q1 2009 ($ 1.8 MM) Net to EIIUS$ 1.7 MM Production Platform Repairs and upgradesUS$ 6.0 MM Delta spending in Q1 2009 ($ 1.9 MM) Net to EIIUS$ 1.8 MM TOTAL net to EII for 2009US$ 3.5 MM