This website is owned and operated by PetroGlobe Inc. ("PetroGlobe"). This website and the material on it may be changed or updated from time to time without notice. By using this site, you agree to the following terms and conditions and agree to hold PetroGlobe and its affiliates harmless from and against any and all claims, expenses, damages, costs or any loss of any kind arising out of using this website or any material contained in or obtained through this website.

Website is provided as a service only
The material contained in this website is for informational purposes only and is not intended as a solicitation or offering of securities in any jurisdiction. Material available in or through this website is not intended to modify, qualify, supplement or amend information disclosed under corporate and securities legislation of any jurisdiction applicable to PetroGlobe and should not be used for the purpose of making investment decisions concerning PetroGlobe securities. You may obtain printed copies of the official versions of public disclosure documents from the Corporate and Investor Communications Department at PetroGlobe.

Website protected by copyright and trademark
All material on this website is protected under the copyright laws of Canada and of other applicable jurisdictions. The material may be used for non-commercial, personal or educational purposes only, and one copy may be downloaded to any single computer provided that this material is not modified and that copyright or trademark notices are not deleted. Any other use of this material including unauthorized downloading, retransmission or republication without PetroGlobe's written permission is prohibited and may result in legal action.

Except as otherwise noted, the logos, icons, graphics, designs, names, trade names, trademarks or service marks displayed on this website belong to PetroGlobe or other third parties and may not be used without PetroGlobe's written permission.

PetroGlobe not responsible for linked websites
PetroGlobe provides links to third party websites for your convenience only and the inclusion of these links does not imply that PetroGlobe monitors, investigates, verifies or endorses these websites. Accordingly their use is at your own risk.

PetroGlobe not responsible for internet software or computer viruses
Due to technical difficulties inherent in the Internet, Internet software or transmission problems could produce inaccurate or incomplete copies of material contained on this website when displayed or downloaded onto your computer. Computer viruses or other destructive programs may also be inadvertently downloaded from the website. PetroGlobe recommends that you install appropriate anti-virus or other protective software.

Exclusion of liability
Although PetroGlobe updates this website regularly with material believed to be accurate at the time of posting, PetroGlobe cannot guarantee the accuracy, completeness, timeliness or currency of the material. Consequently, PetroGlobe expressly disclaims any liability for errors or omissions in the material contained in the website.

In addition, no warranty of any kind, whether implied, express or statutory, including but not limited to, warranties as to non-infringement of intellectual property rights or third party rights, title, latent defects, uninterrupted service, merchantability, fitness for a particular purpose and freedom from computer viruses, is given by PetroGlobe in conjunction with the website, materials or software algorithms.

PetroGlobe shall not be liable for any claims, expenses, damages (including direct, indirect, special, moral, incidental or consequential damages), costs, loss of profits, opportunities or information arising from this website including, but not limited to:

• the use of or reliance on material contained in or obtained through this website;
• any inaccuracy or omission in such material or failure to keep the material current;
• use of any third party websites linked to this website;
• any Internet software or software algorithms used in connection with this website or computer viruses or other destructive programs encountered as a result of using this website;
• inability to use the website due to, among others, interruption, delay in operation or transmission, defect, computer virus or line or system failure; and
• any other matter connected with this website even if PetroGlobe is made aware of the possibility of such claims, expenses, damages, costs or losses.

Internet e-mail
Please feel free to e-mail PetroGlobe at info@PetroGlobe.com However, as the Internet is not a fully secure medium and any communication may be lost, intercepted, corrupted or altered, PetroGlobe is not liable for any damages related to communications (personal, confidential or otherwise) to or from this website. You agree that with respect to any material provided to PetroGlobe through this website:

• PetroGlobe has no obligation of any kind concerning such material;
• the material is non-confidential;
• PetroGlobe may use, disclose, distribute, copy or reproduce the material and shall be free to use any ideas, concepts, know-how or techniques of any kind contained in the material for any purpose; and
• the material is truthful, legal and does not violate the legal rights of others.

General

• The material contained in this website is deemed to be provided in Alberta and is subject to Alberta law.
• All monetary amounts mentioned on this website are in Canadian dollars unless otherwise stated.

Privacy statement
At PetroGlobe, we respect the privacy of visitors to our website. We do not involuntarily collect any personal information of individuals. We collect and maintain personal information of visitors only when it is submitted voluntarily, and we use this information only for the purpose of communicating PetroGlobe information that has been requested.

When a visitor to our website subscribes for electronic delivery of press releases, personal information is forwarded to our news wire service, CCN Matthews, to enable them to distribute PetroGlobe information on our behalf. Neither PetroGlobe nor CCN Matthews provides this submitted personal information to any other parties for any reason.

Through this website, PetroGlobe does automatically collect statistics about Internet service networks used to access our site. This data does not contain any personal information about individual visitors to the site. The information collected is used for a number of different purposes including tracking the number of visitors to the site.

The PetroGlobe website contains links to other websites, some of which PetroGlobe administers and other which are unrelated to PetroGlobe. This privacy statement does not apply to linked websites. Each website should be checked for the privacy statement applicable to it. PetroGlobe is not responsible for the privacy practices in place on linked websites that PetroGlobe does not control.

Forward-looking statements
This website contains statements that constitute "forward-looking statements" within the meaning of the applicable securities legislation. These statements include, among others, statements regarding outlook on oil and gas prices, estimates of future sales and production, business plans for drilling, exploration and production, the estimated amounts and timing of capital expenditures, anticipated operating costs, anticipated future debt levels, royalty rates and exchange rates, or other expectations, beliefs, plans, goals, objectives, assumptions or statements about future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimated", "forecasts", or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved).

Statements concerning oil and gas reserves contained on or through this website and elsewhere may also be deemed to be forward-looking statements as they involve the implied assessment, based on certain estimates and assumptions, that the resources described can be profitably produced in the future. You are cautioned not to place undue reliance on forward-looking information, as there can be no assurance that the plans, intentions or expectations upon which it is based will occur. By its nature, forward-looking information involves numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur. Although the PetroGlobe believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Some of the risks and other factors which could cause results to differ materially from those expressed in the forward-looking statements contained in this presentation include, but are not limited to: volatility of crude oil and natural gas prices, fluctuations in currency and interest rates, product supply and demand, market competition, risks inherent in the PetroGlobe's marketing operations, imprecision of reserves estimates and estimates of recoverable quantities of oil, natural gas and liquids from resource plays and other sources not currently classified as proved or probable reserves, the PetroGlobe's ability to either generate sufficient cash flow from operations to meet its current and future obligations or obtain external sources of debt and equity capital, general economic and business conditions, the PetroGlobe's ability to enter into or renew leases, the PetroGlobe's ability to make capital investments and the amounts of capital investments, imprecision in estimating the timing, costs and levels of production and drilling, the results of exploration and development drilling, imprecision in estimates of future production capacity, the PetroGlobe's ability to secure adequate product transportation, uncertainty in the amounts and timing of royalty payments, imprecision in estimates of product sales, changes in environmental and other regulations. Accordingly, the PetroGlobe cautions that events or circumstances could cause actual results to differ materially from those predicted. Statements relating to “reserves” or “resources” are deemed to be forward-looking statements, as they involve the implied assessment, based on certain estimates and assumptions that the resources and reserves described exist in the quantities predicted or estimated, and can be profitably produced in the future. You are cautioned that the foregoing list of important factors is not exhaustive. You are further cautioned not to place undue reliance on forward-looking statements contained in this presentation, which are made as of the date hereof, and the PetroGlobe undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise. The forward-looking statements contained on this website are expressly qualified by this cautionary statement.

Non-GAAP financial measures
Included on this website are references to financial measures commonly used in the oil and gas industry such as cash flow and cash flow per share. These financial measures are not defined by generally accepted accounting principles in either Canada or the US . Consequently these are referred to as non-GAAP measures. Cash flow, as commonly used, appears as a separate caption on the Company's cash flow statement and is reconciled to both net income and cash flow from operations. Cash flow is used by the Company to assess operating results between years and between peer companies with different accounting policies. Our reported amounts may not be comparable to similarly titled measures reported by other companies. Cash flow should not be considered an alternative to, or more meaningful than, cash provided by operating, investing and financing activities or net income as determined in accordance with Canadian GAAP as an indicator of the Company's performance or liquidity.

Reserves data and other oil and gas information
Effective March 2004, PetroGlobe's disclosure of reserves data and other oil and gas information is made in reliance on an exemption granted to PetroGlobe by Canadian securities regulatory authorities, which permits PetroGlobe to provide disclosure in accordance with US disclosure requirements. The information provided by PetroGlobe may differ from the corresponding information prepared in accordance with Canadian disclosure standards under National Instrument 51-101 (NI 51-101). Proved reserves disclosed on this website have been calculated using the standards contained in Regulation S-X of the US Securities and Exchange Commission (SEC). The probable reserves disclosed on this website have been calculated using the definition for probable reserves set out by the Society of Petroleum Engineers/World Petroleum Congress ("SPE/WPC"). Further information on the differences between the US requirements and the NI 51-101 requirements is set forth under the heading "Note Regarding Reserves Data and Other Oil and Gas Information" in PetroGlobe's Annual Information Form.

The exemption granted to PetroGlobe also permits it to disclose internally evaluated reserves data. While PetroGlobe annually obtains an independent audit of a portion of its reserves, no independent reserves evaluator or auditor was involved in the preparation of the reserves data disclosed on this website.

Throughout this website, the calculation of barrels of oil equivalent (boe) is calculated at a conversion rate of six thousand cubic feet (mcf) of natural gas for one barrel of oil and is based on an energy equivalence conversion method. Boes may be misleading, particularly if used in isolation. A boe conversion ration of 6 mcf:1 bbl is based on an energy equivalence conversion method primarily applicable at the burner tip and does not represent a value equivalence at the wellhead.

Note to U.S. visitors
The US Securities and Exchange Commission normally permits oil and gas companies to disclose in their filings with the SEC only proved reserves that have been demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. Accordingly, the probable reserves and the calculations with respect thereto included on this website do not meet the SEC's standards for inclusion in documents filed with the SEC.

In addition, throughout this website, PetroGlobe makes reference to production volumes. Where not otherwise indicated, such production volumes are stated on a gross basis, which means they are stated prior to the deduction of royalties and similar payments. In the United States , net production volumes are reported after the deduction of these amounts. US readers may refer to the table headed "Continuity of Proved Net Reserves" in PetroGlobe's most recent Annual Report for a statement of PetroGlobe's net production volumes by reporting segment that are comparable to those made by United States companies subject to SEC reporting and disclosure requirements.

PetroGlobe is subject to the reporting requirements of the U.S. Securities Exchange Act of 1934 , and, consequently files reports with and furnishes other information to the SEC. Some of these reports and other information have been prepared in accordance with the disclosure requirements of Canada , which differ from those in the United States . You may read any document PetroGlobe furnishes to the SEC at the SEC's public reference rooms at Room 1024, 450 Fifth Street, N.W. , Washington , D.C. 20549 and 500 West Meridian Street, Suite 1400 , Chicago , Illinois 60661 . You may also obtain copies of the same documents from the public reference room of the SEC at 450 Fifth Street, N.W. , Washington D.C. 20549 by paying a fee. Please call the SEC at 1-800-SEC-0330 for further information on the public reference rooms.

PetroGlobe reports its consolidated financial statements in Canadian dollars. All dollar amounts are stated in Canadian dollars, except where otherwise indicated. Unless otherwise indicated, the financial statements and other Canadian financial information included on this website are presented in accordance with Canadian generally accepted accounting principles, which differ from generally accepted accounting principles in the US . See the notes to PetroGlobe's Consolidated Financial statements for information concerning significant differences between Canadian and US generally accepted accounting principles.

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