CORPORATE PROFILE

Strategic Objectives:

• Develop Poplar Creek Project using ET-DSP™
• Demonstrate that ET-DSP™ is the optimal extraction process for bitumen and heavy oil up to depths of 250 metres
• Use ET-DSP™ to lever into other project developments / growth initiatives

Principal Assets:

• Exclusive rights to use ET-DSP™ for production of heavy oil and bitumen
• 100% interest in Poplar Creek Project
• Best Estimate Economic Contingent Resources of 284 million barrels
• 10,000 bbl/d Phase 1 to start up in 2011
• 100,000 bbl/d Phase 2 to start-up in 2013

Commercial Development:

• Phase 1 application for 10,000 bbl/d to be submitted in Q2 2009
• Facilities construction expected to start in Q2 2010
• Heating to commence in Q1 2011; production in Q2 2011

Corporate History

E-T Energy was incorporated under the Canada Business Corporations Act on August 4, 2004. The registered office of E-T Energy is located at 1250, 639 – 5 Avenue SW, Calgary, Alberta T2P 0M9. The head office of E-T Energy is located at 4895 – 35B Street, Calgary, Alberta T2B 3M9.

E-T Energy was initially formed pursuant to an agreement between McMillan-McGee Corp. and WillMac Canada, L.P. dated July 26, 2004, as the vehicle to Field Test and commercialize the Electro-Thermal Dynamic Stripping Process (ET DSP™) for the in situ production of bitumen from oil sands deposits. ET DSP™ is a patented and commercial electro-thermal process that couples electrical heating with heat transfer by convection and conduction, using a drilled grid of electrode and extraction wells. The process has been used extensively for in situ environmental remediation of contaminated sites and has only recently been applied by E-T Energy to the heating and production of bitumen from oil sands.

E-T Energy obtained the necessary regulatory approvals to conduct the Field Test in March 2006 and has been carrying out the Field Test since that time. E-T Energy holds a 100% working interest in 16.5 contiguous sections of land covering 10,560 acres it acquired in 2004, 2005 and 2007. See “Lease Locations” under the Operations tab for more information on the leases.