Presented by: D. Glen Snarr

Western U.S. Oil Sands ConferenceFebruary 27, 2009

www.earthenergyresources.com

OIL SAND PRODUCTION IN UTAH:CONTINUED DEVELOPMENT

2

Earth Energy – Western US Oil Sands Conference, February 27, 2009

FORWARD LOOKING STATEMENTS

This presentation and the Company’s website referenced in this presentation contain forward-looking statements including expectations of future production and components of cash flow and earnings. Investors are cautioned that assumptions used in the preparation of such information may prove to be incorrect. Forward-looking statements in this presentation include, but are not limited to, statements with respect to: benefits of the “Ophus Process” technology, business strategy and strengths, capital expenditures, reserves, estimated production, discounted cash flows of future net revenue, commodity prices and costs, exchange rates, development plans and programs, tax effect, government royalty rates, and anticipated exploration and development activities. Statements relating to “reserves” involve the implied assessment, based on certain estimates and assumptions, that the reserves described exist in the quantities predicted or estimated and can profitably be produced in the future.

Forward-looking statements and information relating to implementation of technology and production estimates is based upon management estimates and evaluations provided by independent third party consultants. Although management considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks that outcomes implied by forward-looking statements will not be achieved. We caution readers not to place undue reliance on these statements as a number of important factors could cause the actual results to differ materially from the beliefs, plans, objectives, expectations and anticipations, estimates and intentions expressed in such forward-looking statements.

These factors include, but are not limited to: changes in general economic, market and business conditions; the volatility of oil and gas prices; production and development costs and capital expenditures; the imprecision of reserve estimates and estimates of recoverable quantities of bitumen; the loss of key personnel; the marketability of production, defaults by third parties; unforeseen complications with patent applications or patent protection on technology; fluctuations in foreign currency and exchange rates; inadequate insurance coverage; compliance with environmental laws and regulations; actions by government or regulatory agencies, including changes in tax laws; changes in law or regulations; and Earth Energy’s ability to access external sources of debt and equity capital; and the occurrence of unexpected events involved in the operation and development of oil sands properties. The risks outlined above should not be construed as exhaustive. Investors are cautioned not to place undue reliance on any forward-looking information

When relying on our forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Furthermore, the forward-looking statements contained in this presentation are made as of the date of this presentation and Earth Energy does not undertake any obligation to up-date publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this presentation are expressly qualified by this cautionary statement.

Presented by: D. Glen Snarr

Western U.S. Oil Sands ConferenceFebruary 27, 2009

www.earthenergyresources.com

OIL SAND PRODUCTION IN UTAH:“IT’S NOT EASY BEING GREEN…ISH”

…or what we’d rather the title of our presentation to be…

4

Earth Energy – Western US Oil Sands Conference, February 27, 2009

ENVIRONMENTAL POSITION

There are those that bring awareness and those that work towards finding a solution to these problems. Both are important.

Earth Energy is a company that contributes to the solution.

Our main goal is to provide the public with what they are asking for in the most environmentally sustaining way.

5

Earth Energy – Western US Oil Sands Conference, February 27, 2009

ENVIRONMENTAL POSITION

What is a “HEEG”?

Hydrocarbon Energy Environmental Gap?

How to bridge the “HEEG”?

Balanced education: kids, adults and government

Invest in new ideas

Invest in old ideas

Balance the needs of today and tomorrow

6

Earth Energy – Western US Oil Sands Conference, February 27, 2009

CORPORATE OVERVIEW

“Earth Energy is a Calgary Alberta based private company with a patent-pending oil sands processing technology, the “Ophus Process”, which it intends to initially deploy on the company’s oil sand leases in the State of Utah...”

What is the Ophus Process?• Water based, similar in concept to the Clark Process

• Applicable to surface-mineable oil sand deposits

• Environmentally friendly extraction chemical

• Indifferent to connate water content (water-wet & oil-wet ores)

• High bitumen extraction rates

• Clean, “damp dry” stackable tailings

• Tailings ponds not required concurrent mine reclamation

• Energy and water efficient robust economics

7

Earth Energy – Western US Oil Sands Conference, February 27, 2009

CORPORATE OVERVIEW

Issues Facing Current Oil Sand Mining Operations

Unbreakable emulsions in bitumen froths

Tailings ponds

Inability to perform concurrent reclamation

Water usage and supply limitations

Energy consumption & GHG

Chronic shortages of skilled labour, construction equipment and municipal infrastructure

Product transportation/infrastructure

8

Earth Energy – Western US Oil Sands Conference, February 27, 2009

CORPORATE OVERVIEW

Advantages of the Ophus Process• Modular process trains readily scaleable to size of resource and

available water supplies, facilitates deployment to geographically stranded ore deposits

• Environmentally friendly chemical engaged to rapidly liberate bitumen from oil sand ore in a gentle, low mechanical energy process

• 95+% of process water immediately recycled in 10 minute closed loop, minimizing heat loss to tailings energy efficient

• Tailings ponds eliminated enabling concurrent reclamation of mine pits and minimized future liabilities

• Compact overall footprint = reduced environmental impact and less environmental opposition

• Capital cost per flowing bbl ~25% of large plants due to overallsimplicity, incorporation of proven shelf equipment and offsite modular fabrication in less heated U.S. mid-west marketplace

9

Earth Energy – Western US Oil Sands Conference, February 27, 2009

CORPORATE OVERVIEW

Process Development Status• “Proof of Concept” field production test carried out at PR Spring

mine site in fall of 2005

• Majority of testing carried out at company’s Grande Prairie R & D facility, complete with fabrication shop and in-house testing lab

• PLC-controlled, semi-automated demonstration unit has successfully processed both Utah and Athabasca oil sand ores

• Large digital database of performance metrics captured as design basis for commercial unit and foundation of process economics

• Stantec Engineering engaged in 2007 to scale up development prototype to a 2,000 bbl/d modular commercial plant

• Relationships with world’s largest manufacturers of the process chemical and equipment components

• Initial production targeted for spring of 2010

10

Earth Energy – Western US Oil Sands Conference, February 27, 2009

CORPORATE OVERVIEW

Mine Development Status• Preliminary geological (outcrop) mapping, coring and resistivity

programs completed in 2006

• High density coring program permitted on initial mine area for completion of detailed mine planning

• Water right secured, supply well and delivery pipeline permits in hand

• Tailings cleared for direct replacement to mine pit mine trucks will run loaded in both directions

• Mine permitting nearing completion, Large Mine Permit in final review with Utah Division of Oil, Gas & Mining

• Mine opening (brush clearing and overburden removal) scheduled to commence in summer/fall of 2009

11

Earth Energy – Western US Oil Sands Conference, February 27, 2009

CORPORATE OVERVIEW

Geophysical work conducted in Athabasca, Canada severely restricted due to field conditions

Utah field conditions conducive to year round exploration, evaluation, and reclamation

Field Conditions Favourable To Athabasca

12

Earth Energy – Western US Oil Sands Conference, February 27, 2009

CORPORATE OVERVIEW

Go Forward Business Plan• Primary: - Use patent-pending technology to exploit the

company’s Utah oil sands resource

• Secondary: - Acquire leases, license, or lever technology to earn working interest in other oil sands properties in Utah and/or Athabasca

- Develop “fee for service” opportunities in produced sand and drill cuttings remediation

13

Earth Energy – Western US Oil Sands Conference, February 27, 2009

THE OPHUS PROCESS - DATA

Design Features• Plant type: Modular process trains as 7- 8 road-transportable skids, offsite fab• Power supply: 1.2 MW natural gas cogen system c/w waste heat recovery• Gas supply: Sweet, dry field gas pipeline bordering plant site • Water supply: Groundwater well and 2.4 mi. delivery pipeline

Performance Metrics• Capacity: 2,000 bbl/d / train with chemical recovery distillation unit• Ore feed rate: ~150 tons/hr / train• Water re-cycle: 95+% (function of moisture content in discharged sand)• Net water requirement: ~1.5 bbl H2O / bbl of bitumen produced (target <1.0)• Chemical re-cycle: 98+%• Energy requirement: ~300,000 Btu/bbl of bitumen produced (incl. electricity

cogen)• Bitumen extraction efficiency: 95 – 97.5%• Residual bitumen in discharged tailings: 0.3 - 0.4%• Residual chemical in discharged tailings: non-detect• Moisture content of co-mingled sand & fine tailings: ~15% (target ~12%)

14

Earth Energy – Western US Oil Sands Conference, February 27, 2009

2005 Production Test, PR Spring Mine Site

THE OPHUS PROCESS - PROOF OF CONCEPT PROTOTYPE

1

2 3

14

5

15

Earth Energy – Western US Oil Sands Conference, February 27, 2009

THE OPHUS PROCESS - GRANDE PRAIRIE DEMONSTRATION UNIT

OreStockpile

3-PhaseSeparation

Feed Hopper

De-lumper

Ore SlurryMixer

SandDe-watering

Produced(Dilute)*

Bitumen

Bitumen

CleanSand

Demonstration Unit Schematic (Simplified)

RecycledWaterTank

* NOTE: Dilute bitumen feed for distillation unit (distillation to be incorporated in commercial unit)

WaterWater

Hot WaterExtractionChemical

Separation Towers

3

24

5

67

8Make-up

Water

Clean Fines

BitumenPolishing

Water

BitumenFuel Gas

9

Clean Fines

Bitumen

Process Water Heater

1

2

DecantingCentrifuge

Return to MineSludge

De-watering

3 4 5 6 7

8

9

16

Earth Energy – Western US Oil Sands Conference, February 27, 2009

PR SPRING MINE SITE, N.E. UTAH (looking North)

17

Earth Energy – Western US Oil Sands Conference, February 27, 2009

PR SPRING MINE SITE, N.E. UTAH (looking Southwest)

Top of ore bed (outcrop), location of opening pit

18

Earth Energy – Western US Oil Sands Conference, February 27, 2009

CONCURRENT RECLAMATION CONCURRENT RECLAMATION -- IT CAN BE DONE!IT CAN BE DONE!

Active pit operation, Active pit operation, Simplot Phosphate Mine, Simplot Phosphate Mine, Vernal, Utah. Similar in Vernal, Utah. Similar in size and configuration to size and configuration to planned EER PR Spring planned EER PR Spring oil sand mine operation. oil sand mine operation.

Reclaimed mine pit areas, Reclaimed mine pit areas, Simplot Phosphate Mine, Simplot Phosphate Mine, three years postthree years post--mining. mining. Award winning example Award winning example of concurrent reclamation. of concurrent reclamation. Same concept planned for Same concept planned for EER PR Spring reclamation. EER PR Spring reclamation.

19

Earth Energy – Western US Oil Sands Conference, February 27, 2009

PROJECT TIMELINE

20072007Q3Q3 Q4Q4 Q1Q1 Q2Q2

20082008 20092009Q3Q3 Q4Q4 Q1Q1 Q2Q2 Q3Q3 Q4Q4

Shop Demo Unit Testing ProgramShop Demo Unit Testing Program

Design Commercial Unit (Stantec Engineering)Design Commercial Unit (Stantec Engineering)

First Bitumen

Permit PR Spring Mine Operation Permit PR Spring Mine Operation

Q1Q1 Q2Q220102010

Major Project Financing ($35M)Major Project Financing ($35M)

Q3Q3

Commence Mining

Fabricate Commercial UnitFabricate Commercial Unit

Plant Site Prep & Unit SetPlant Site Prep & Unit Set--upup

O/B Removal/Mine OpeningO/B Removal/Mine Opening

Initiate Permitting for 2Initiate Permitting for 2ndnd MineMine

20

Earth Energy – Western US Oil Sands Conference, February 27, 2009

CONCURRENT RECLAMATION CONCURRENT RECLAMATION -- IT CAN BE DONE!IT CAN BE DONE!

Active pit operation, Active pit operation, Simplot Phosphate Mine, Simplot Phosphate Mine, Vernal, Utah. Similar in Vernal, Utah. Similar in size and configuration to size and configuration to planned EER PR Spring planned EER PR Spring oil sand mine operation. oil sand mine operation.

Reclaimed mine pit areas, Reclaimed mine pit areas, Simplot Phosphate Mine. Simplot Phosphate Mine. Award winning example of Award winning example of concurrent reclamation. concurrent reclamation. Same concept planned for Same concept planned for EER PR Spring EER PR Spring reclamation. reclamation.

D. Glen Snarr, President & CFO(403) 233-9366, ext. 222

glen.snarr@earthenergyresources.com

www.earthenergyresources.com

QUESTION AND ANSWER PERIOD

THANK YOU