Roil corporate presentation

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INVESTOR PRESENTATION

Confidential Material

August 2013

OTCQX: ROIL

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DISCLAIMER

FORWARD LOOKING STATEMENTS AND OTHER MATTERS

THE FINANCIAL AND OPERATING PROJECTIONS CONTAINED HEREIN REPRESENT CERTAIN ESTIMATES OF RICHFIELD OIL AND GAS COMPANY (“RICHFIELD” OR THE “COMPANY”) AS OF THE DATE HEREOF. RICHFIELD’S INDEPENDENT PUBLIC ACCOUNTANTS HAVE NOT EXAMINED, REVIEWED OR COMPILED THE PROJECTIONS AND, ACCORDINGLY, DO NOT EXPRESS AN OPINION OR OTHER FORM OF ASSURANCE WITH RESPECT THERETO. FURTHERMORE, NEITHER RICHFIELD NOR ITS MANAGEMENT CAN GIVE ANY ASSURANCE THAT THE PROJECTIONS CONTAINED HEREIN ACCURATELY REPRESENT RICHFIELD’S RESULTS OF OPERATIONS OR FINANCIAL CONDITION. SOME OF THESE ASSUMPTIONS INEVITABLY WILL NOT MATERIALIZE AND UNANTICIPATED EVENTS MAY OCCUR THAT COULD AFFECT RICHFIELD’S RESULTS. THEREFORE, RICHFIELD’S ACTUAL RESULTS ACHIEVED DURING THE PERIODS COVERED BY THE PROJECTIONS WILL VARY AND MAY VARY MATERIALLY FROM THE PROJECTED RESULTS. THESE VARIATIONS COULD MATERIALLY AFFECT RICHFIELD’S ABILITY TO MAKE PAYMENTS WITH RESPECT TO ANY OF ITS OUTSTANDING AND/OR FUTURE DEBT SERVICE OBLIGATIONS.

UNLESS OTHERWISE NOTED, THE FORECASTED INDUSTRY AND MARKET DATA CONTAINED IN THE ASSUMPTIONS FOR THE PROJECTIONS ARE BASED UPON MANAGEMENT ESTIMATES AND INDUSTRY AND MARKET PUBLICATIONS AND SURVEYS. THE INFORMATION FROM INDUSTRY AND MARKET PUBLICATIONS HAS BEEN OBTAINED FROM SOURCES BELIEVED TO BE RELIABLE, BUT THERE CAN BE NO ASSURANCE AS TO THE ACCURACY OR COMPLETENESS OF THE INCLUDED INFORMATION. RICHFIELD HAS NOT INDEPENDENTLY VERIFIED ANY OF THE DATA FROM THIRD-PARTY SOURCES, NOR HAS RICHFIELD ASCERTAINED THE UNDERLYING ECONOMIC ASSUMPTIONS RELIED UPON THEREIN.

THESE MATERIALS ARE BEING SUPPLIED TO YOU SOLELY FOR YOUR INFORMATION AND FOR USE AT THE PRESENTATION. THIS PRESENTATION AND THESE MATERIALS MAY NOT BE REPRODUCED, REDISTRIBUTED OR PASSED ON, DIRECTLY OR INDIRECTLY, TO ANY OTHER PERSON OR PUBLISHED, IN WHOLE OR IN PART, BY ANY MEDIUM OR FOR ANY PURPOSE.

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Page

Company Overview 3

Kansas Asset Overview 10

Utah and Wyoming Asset Overview 20

TABLE OF CONTENTS

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Company Overview

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INVESTMENT HIGHLIGHTS

• Demonstrated a unique ability to identify, evaluate and develop undercapitalized assets • Found in excess of 1 BBoe of reservoirs in the UT / WY overthrust belt • Pioneered the dewatering production methods now in use throughout Kansas and

Oklahoma, by many operators

Strong Management Team with Proven Track Record

• Award-winning geologists with over 208 years of combined experience in analyzing drilling and development opportunities in Kansas and Utah

• Experts in exploring for and producing from reservoirs that are not in capillary pressure equilibrium and subject to damage from standard drilling techniques

• Expertise in overthrust geology in Rockies

Best in Class Geological Team

• Fields with long production histories and significant well control • Documented pay in areas with low historical recovery due to antiquated methods • Significant inventory of low-cost, high-return behind pipe and offset opportunities

Low Risk Assets

• Database of over 300,000 wells – most comprehensive Kansas dataset • Allows for rapid identification and evaluation of potential acquisitions • Proven strategy originally developed by the Richfield management team

Proprietary Database and Research Technology

• 1,656 MBoe Proved Reserves (95% oil) - 5,447 MBoe 2P Reserves (91% oil) • $33.9 million Proved PV-10 ($158.3 million 2P PV-10) • Additional unbooked potential in horizontal Mississippian well locations • World class upside in Utah acreage in the Navajo Sandstone, Mancos Shale,

Mississippian, and other formations

Liquids-Rich Asset Base with Significant Upside Potential

Superior Well Economics

• Well costs range from $0.25 - $0.50 million, with 26 MBoe EUR per zone • Additional performance-based upside of 80 MBoe per well in the Arbuckle Formation • Re-work and new drill type wells produce IRR’s of 329% and 126%, respectively

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HIGHLY EXPERIENCED MANAGEMENT TEAM

• 27 years in managing all aspects of oil company development, including geological analysis, design and implementation of advanced engineering, field management and finance

• Founder & CEO of publicly traded HEGCO Canada, an oil & gas exploration company (1995-2000), Iron Thunder Drilling (1998), Nemaha Services (1991), Hewitt Energy Group, Inc. (1988), and New Century Petroleum (1986)

Douglas C. Hewitt: President and CEO

• Practiced law since 1980, over 17 years experience advising oil and gas companies in all areas including leasing, environmental and regulatory compliance and securities matters

• Practiced law with Dexter & Dexter Attorneys at Law from 2004 to 2008 • Served as the General Counsel and CFO of HEGCO Canada, Inc. from 1997 to 2002

Mike A. Cederstrom: General Counsel and Corporate Secretary

George T. Ulrich: Controller

• 28 years experience in public and private companies in senior accounting roles, including 15 years with Iomega Corporation

• Significant experience in SEC reporting and filings for public companies

• Over 30 years in public accounting and CFO positions for the oil and gas and financial services industries, internationally

• Served as an officer and director for numerous private and public companies • Lead roles in acquisitions, divestitures, turnaround situations and start-up businesses

Glenn G. MacNeil: CFO and Director

David K. Detton: Land and Legal

• Licensed Utah attorney since 1976, former partner in two of the 100 largest U.S. law firms • Managed land teams for over $1 B in acquisitions of oil & gas companies • Managed company’s recent acquisitions of over 12,000 acres of mineral rights and 10,000

acre feet of water rights

Alan D. Gaines: Chairman of the Board of Directors

• 30 years experience as an energy investment and merchant banker, and has participated in the raising of debt and equity financing in excess of $100 billion

• Chairman, and Founder of Dune Energy, Inc. since its formation in May 2001 through April 2011 and CEO form inception though May 2007

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DISTINGUISHED BOARD OF DIRECTORS

• 40 years of entrepreneurial experience • Founded Valley Sanitation and merged with 10 other waste businesses to form Superior

Services, Inc. • In 1996, as President and Chairman, completed a successful IPO on the NASDAQ • In 1999, Superior was sold to Vivendi, a French conglomerate for over $1 billion

Joseph P. Tate: Independent Director

• 38 years of experience in the investment banking industry • Served with The First Boston Corporation / Credit Suisse First Boston in corporate finance

and public finance, including as Vice President and Treasurer. Served as Sr. Managing Director of Cambridge Holding and Cambridge Partners, LLC

John J. McFadden: Independent Director

• Brings many years of top-level business and entrepreneurial experience to the Company's Board

• From 1998 to 2002, Mr. Grimm served as: President and CEO of Sam's Club as well as Executive Vice President of Wal-Mart Stores Inc., based in Bentonville, Arkansas

• Mr. Grimm served as the CEO of Pace Membership Warehouse, a subsidiary of Kmart Stores Inc.

• Founder, President and CEO of Price Savers Membership Warehouse, which achieved one billion dollars in sales in its last year prior to being acquired by Kmart Stores Inc.

Thomas R. Grimm: Independent Director

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BEST IN CLASS TECHNICAL TEAM

• From 2007 to 2009, served as SVP of Exploration for Hunter Energy, LLC • From 1990 to present, has served as President of Safford Exploration - resulted in the

discovery of the 1 MMBO Thief Creek Field in the Wyoming Thrust Belt for Anshutz Corp. • From 1976 - 1990 worked for Chevron, supervised the development of Whitney Canyon -

Carter Creek fields, and served as District Geologist of the Mid-Continent District

Monty Hoffman: Production Geologist

• Over 50 years of oil and gas experience • Currently with Safford Exploration, where he served with the team responsible for the

discovery of the 1 MMBO Thief Creek Field in the Wyoming Thrust Belt • From 1956 to 1989, served as a geologist for Chevron where he was part of the team who

discovered Ryckman Creek (1976), Painter Reservoir (1977), East Painter Reservoir (1978), Whitney Canyon-Carter Creek (1977), and Glasscock Hollow (1980) fields

Paul Lamerson: Consulting Geologist

Raina Powell: Production Geologist

Jeremiah J. Burton: Geologist

• From 1976 - 1990 worked for Chevron in various roles, including the geologic negotiations with partners in Painter and East Painter fields

• Since 1990, has served as a Staff Geologist for Safford Exploration, Inc. • Experience in several Wyoming basins, in the Williston Basin, and in Texas and Kansas • From 2003 to 2005, served as Senior Staff Geologist for Nautilus Resources; supervised

the Gebo Field, which doubled from 500 BOPD to 1000 BOPD

• 15 Years of Oil and Gas Experience in the Mid-Continent and the Rockies, including work for Flying J Oil & Gas, and permitting work for Anadarko in Alaska.

• 10 years with Richfield and its Predecessors, including the initial identification, and evaluation of Richfield’s current Mid-Continent Properties.

• Helped Develop Richfield’s Proprietary exploration database

Bill Alexander: Petroleum Engineer

• Over 60 years of oil and gas experience • From 1960 to 1974, served as a drilling and completions engineer and field engineer with

Shell Oil Company • Also served in various engineering roles with Kirby Exploration, Alexander Drilling,

Natomas North America, and Pennaco Resources Company

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North American exploration and production company based in Salt Lake City, Utah

Publicly-traded on the OTCQX U.S. Premier Market; Ticker Symbol: ROIL

Incorporated April 2011, simultaneous with the merger with Hewitt Petroleum, Inc.

Unique balance of low-risk assets with immediate cash flow impact and long-term upside:

Kansas - Low-risk, low-cost, high return assets

Wyoming – Low-risk, moderate cost, high return assets

Independence Project, Mancos Shale - Moderate risk, high upside

Central Utah Overthrust –High Risk, high upside

Near-term strategy focuses on increasing cash flow through exploitation of Kansas and Wyoming assets

2013 – 2014 capital program includes 92 re-work and new drill operations

Pursue cash-flow accretive bolt-on acquisitions in core operating region

Central Utah Overthrust acreage provides significant upside potential through Mancos Shale exposure

Approximately 11,464 acres with unbooked resource potential in the Navajo Sandstone, Mancos Shale, and deep Mississippian formations (127 potential drilling locations) - 89.5% WI in the HUOP Freedom Trend Prospect and 59.6% WI in the Liberty Prospect

20,000 acres prospective for the Mancos Shale (31 potential drilling locations)

o Partnered with experienced, NYSE-listed, independent operator with extensive experience in unconventional resource plays – 4% WI in the Independence Prospect

COMPANY SUMMARY

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2012 RESERVES SUMMARY – DEVELOPED PROPERTIES ONLY

Source: Pinnacle Energy Services, LLC Reserves and Engineering Evaluation dated January 18, 2013 Note: Excludes Utah and Wyoming resource potential. 1. Represents 5 horizontal Mississippian well locations; additional reserves and present value represent increase well performance from the PD and PUD drilling locations.

Significant Performance-Based Upside

Reserve Drilling Net Net Reserves Data

Class Locations PV-10 ($MM) Oil (MBbl) Gas (MMcf) MBoe % Oil

PD 32 $15.6 546 118 566 96.5%

PUD 43 18.3 1,022 409 1,090 93.7%

Total Proved 75 $33.9 1,568 527 1,656 94.7%

PROB1 5 $124.4 3,407 2,304 3,791 89.9%

Total 2P 80 $158.3 4,975 2,831 5,447 91.3%

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Capital Expenditures:

Work Plan:

Ending December 31st Projected Total Wells:

Ending Month NRI Bopd Projected Production:

Adjusted EBITDA for the Period:

$20 MILLION DEBT FUNDING WORK PLAN

Aug 15, 2013 to Dec 31, 2013

FY 2014 FY 2015 Total

Total $8.8M $18.0M $23.1M $49.9M

Jul 1, 2013 to Dec 31, 2013

FY 2014 FY 2015 Total

Recompletion Wells 10 6 0 16

New Drill Wells 10 29 41 80

New SWD Wells 2 8 6 16

Reworked Wells 21 6 2 29

Dec 2013 Dec 2014 Dec 2015

Producing Wells 35 70 111

SWD Wells 8 16 22

Total Wells 43 86 133

Aug 2013 Dec 2013 Dec 2014 Dec 2015

Total 105 Bopd 543 Bopd 1,019 Bopd 1,655 Bopd

Sep 1, 2013 to Aug 31, 2014

FY 2014 FY 2015

Adjusted EBITDA $11.1M $15.5M $27.5M

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Kansas Asset Overview

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0

100

200

300

400

500

600

700

800H

isto

rica

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ross

Pro

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Bo

e/d

)

Braman Field – Historical Production And Development Activity

Douglas Hewitt pioneered the dewatering production methods now in use throughout Oklahoma, by many operators

PROVEN PRODUCTION METHOD

Source: IHS Herold

Acquired for $5,000

$2.6 million total capital expenditures: • 6 New Drills • 3 Re-works • 5 Wells high-volume

submersible pumps

Peak Production: 715 Boe/d

Sold for $6 million

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Proprietary database that includes well data from several public and private sources

Data on 300,000+ wells drilled in the mid-continent since the 1920s

Invested over $3 million in unique strategic advantage which allows Richfield to:

Allocate capital to best drilling targets

Identify and evaluate acquisition targets

EXPLORE AND RESEARCH SYSTEM (“EARS”)

Production history charts

Well data

Well logs & cross-sections

Most Comprehensive Source of Kansas Production, Completion, and Geological Data

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Richfield Leaseholds and Major Kansas Operators Richfield Properties

Richfield’s acreage is located in the heart of the Central Kansas Uplift

2,626 acres

78 total drilling and workover locations

MAJOR OPERATORS IN KANSAS

Source: Company filings, PLS Oil & Gas Database

Central Kansas Uplift

Gorham Field • 1,218 acres • 45 locations

Trapp Field • 160 acres

• 7 locations

Koelsch Field • 480 acres

• 10 locations

Perth Field • 480 acres

• 10 locations

South Haven Field • 248 acres

• 5 locations

Bull Field (Oklahoma) • 40 acres

• 1 location

Richfield Leases

Cherokee Basin

Bourbon Arch

Forecast City Basin

Nemaha Anticline

Salina Basin

Sedgwick Basin

Cambridge Arch

Legend Operator

Apache

Chesapeake

Encana

Sandridge

Shell

CHEYENNE

SHERMAN

WALLACE

GREELEY

HAMILTON

STANTON

MORTON

RAWLINS

DECATUR

NORTON PHILLIPS

SMITH JEWELL REPUBLI

C MARSHAL

L

NEMAHA

THOMAS SHERIDAN

GRAHAM

LOGAN GOVE TREGO

WICHITA

KEARNY

GRANT

STEVENS

SEWARD

HASKELL

FINNEY

SCOTT LANE

MITCHELL

LINCOLN

ELLSWORTH

RICE

RENO

KINGMAN

SUMNER

SEDGWICK

HARVEY

MCPHERSON

OTTAWA

CLOUD CLAY

DICKINSON

MARION

BUTLER

COWLEY CHEROKEE

CRAWFORD

BOURBON

LINN

MIAMI

JOHNSON

WYANDOT

BROWN

JACKSON POTTAWATOMIE RILEY

GEARY

MORRIS

CHASE

LYON

WABAUNSEE

SHAWNEE

ATCHISON

BOOKS OSBORNE

RUSSELL

RUSH

PAWNEE

EDWARDS

KIOWA

CLARK MEADE

RAY FORD

HODGEMAN

NESS

ELLIS

BARTON

STAFFORD

PRATT

BARBER COMANCHE HARPER

GREENWOOD

ELK

CHAUTAUQUA

MONTGOMERY LABETTE

NEOSHO

ALLEN

WILSON

WOODSON

COFFEY

OSAGE

DOUGLAS

FRANKLIN

ANDERSON

JEFFERSON

SALINE

LEAVENWORTH

DONIPHAN

Hugoton Embayment of the

Anadarko Basin

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Unproduced Oil and Gas Zones Arbuckle Overview

Main target is the Arbuckle formation, a water-drive reservoir system that has yielded 2.4 billion barrels since the late-1920s

Typically outfit new or recompleted Arbuckle wells with high volume submersible pumps

Typical well will produce 10-40 BOPD and with proper well density, these oil rates can increase

Untapped Potential

Formation has been produced almost exclusively from its topmost layer

Productive lower Arbuckle intervals exist in every major CKU field. These zones were only sporadically produced—mainly due to a lack of information sharing among an unsophisticated, under-capitalized producer base

Behind Pipe Reserves

Recent cased hole logs on Richfield’s wells identify significant new reserves in two of Central Kansas’ largest fields

CENTRAL KANSAS UPLIFT OVERVIEW

2009 Halliburton TMD Log, Gorham Field

2009 Halliburton TMD Log, Trapp Field

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Operating Region Richfield Development Plan

Asset Overview ($ in millions)

A geological report on a Gorham Field well log indicates over 50’ of pay Only the top 2’ – 5’ of the Arbuckle has been

produced in the entire field 2013 - $4.1 million capital expenditures 20 re-works/recompletions (including 7 PDP and

1 SWD) 4 new drill locations (including 1 SWD)

2014 - $12.8 million capital expenditures 8 re-works/recompletions 24 new drill locations (including 4 SWDs)

Anticipated production growth: Current NRI Production: 20 Boe/d Expected 2013 Exit NRI Rate: 237 Boe/d

GORHAM FIELD

Gross Acreage 1,218

Average WI / NRI 100% / 80%

Locations PV-10

PDP (Re-work) 7 $2.0

Re-work 12 7.9

New Drill 26 8.3

Total Proved 45 $18.2

Performance-Based 93.2

Total $111.4

Source: Pinnacle Energy Services, LLC Reserves and Engineering Evaluation dated January 18, 2013

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Operating Region Field Description


KOELSCH FIELD

Field was discovered in 1952 and abandoned in 1957, leaving 3.9 – 6.4 MMBoe recoverable

2013 - $0.1 million capital expenditures 1 re-work/recompletion (including 1 PDP)

2014 - $2.1 million capital expenditures 2 re-works/recompletions (including 1 PDP) 5 new drill locations (including 1 SWD)


Gross Acreage 480

Average WI / NRI 85.5% / 67.5%

Locations PV-10

PDP (2 Re-work) 3 $0.9

Re-work 1 0.8

New Drill 4 0.9

Probable (Mississippian) 2 2.6

Total 10 $5.3


Total $16.8


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TRAPP FIELD

Focus area is the highest part of the structure Wells historically experienced the highest IPs,

highest EURs, and most recoverable reserves Should the pilot project prove successful, ROIL can

expand to the entire field 2013 - $0.1 million capital expenditures 3 re-works/recompletions (including 1 PDP)

2014 - $2.8 million capital expenditures 3 re-works/recompletions 5 new drill locations (including 1 SWD)


Gross Acreage 160


Locations PV-10


Re-work 2 0.5

New Drill 4 1.3

Total 7 $1.7


Total $14.6


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PERTH FIELD

Estimated 12.6 MMBoe of reserves in place, representing recovery efficiency of only 15% ROIL estimates recovery efficiencies of up to 40% Acquired properties to redrill and produce the

remaining recoverable reserves of 2 to 3 MMBoe 2013 - $2.0 million capital expenditures 4 re-works/recompletions (2 PDP and 1 SWD) 4 new drill locations (including 1 SWD)


Gross Acreage 480

Average WI / NRI 85% / 66.3%

Locations PV-10


Re-work – 1.3

New Drill 6 5.3


Total 10 $8.7


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SOUTH HAVEN FIELD

Estimated 5.5 MMBoe of reserves in place, representing recovery efficiency of only 10% ROIL estimates recovery efficiencies of up to 40% Acquired properties to redrill and produce the

remaining recoverable reserves of 1.5 to 2.0 MMBoe 2013 - $1.5 million capital expenditures 2 re-works/recompletions 3 new drill locations



Consists of 248 acres

1 re-work/recompletion Already complete

1 wash-down for SWD already complete

1 New Drill Already Complete

3 additional new drill locations

To be updated Get reserves from Engineering.

Acreage 248


Locations PV-10

PDP (1 Re-work) 2 2.2$

New Drill 3 2.8


Total 6 6.8$

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Utah and Wyoming Asset Overview

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Central Utah Overthrust— a String of Pearls

• 40% of world oil reserves are arrayed along thrust belts.

• The North American Thrust Belt runs from Alaska (Prudhoe Bay) to Mexico (Cantrell Field).

Four billion barrels of oil-equivalent (BOE) found in Canadian Overthrust.

National and state parks, great depths and extreme volcanism have limited activity in Montana and northwestern Wyoming

Two billion BOE found in northeast Utah and southwest Wyoming in 1970’s and 80’s

• Two large reported discoveries on both the Paxton and the Gunnison Thrust confirm productivity of Central Utah Overthrust.

Covenant Field, discovered in 2003/4, has estimated 150 million Bbls with 13 million BO produced to date.

Providence Field, discovered in 2008, multi pay system, has estimated reserves several times larger than the Covenant Field

North American Overthrust (Rocky Mountains):

Modified from Moulton and Pinnell, 2006

National and state parks

Extreme volcanism

Hogback Ridge

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UTAH AND WYOMING ASSET OVERVIEW

Liberty #1 Discovery Well – Drilled in 2010

Logs and testing demonstrated over 1,200 gross feet of interconnected fractures in Jurassic Twin Creek Limestone and 427 feet of oil saturated deeper Navajo Sandstone

Freedom Trend Prospect

Gravity maps show prominent super-structural anomalies

105 miles of 2-D seismic shows three, overlapping structural closures in the Twin Creek-Navajo

Extensive Geochemcial Anomalies due to hydrocarbons, cover the same structures identified by gravity and seismic.

Independence Project – Drilling operations are anticipated to begin Q4 2013, or Q1 2014, in the organically rich, Tununk member of the Lower Mancos Shale

Hogback Ridge (UT- WY Overthrust) – New acreage has been acquired, offsetting a past producing well. Geological research and lease acquisition is ongoing

Wolverine

Covenant Field (150 MMBO Reserves)

Wolverine

Providence Field (450+ MMBOE Reserves)

Liberty Prospect (1,200+ feet of highly

fractured pay)

Freedom Trend

Prospect (Navajo SS and Tununk

Sh. “Billion Barrel

Potential” Floyd Moulton)

Independence

Prospect (Tununk Shale with

Flowing Tests)

Pine Springs and

Edwin Prospects (Gas Shows in Pine

Springs)

WYOMING Hogback Ridge

Prospect (Acreage Offsetting

Past Production)

Spring Valley

Prospect (Active Oil Seep)

Graham

Reservoir Field (Existing Production)

Anschutz Ranch

Fields (208 MMBOE Produced)

American Quasar

Pineview Field (32 MMBOE Produced)

Modified from Willis 1999

Richfield Properties Acres

Existing

Wells

Drilling

Locations

Working

Interst

Liberty Prospect (UT) 1,025 - 9 74.7%

Liberty Prospect (UT) 160 1 - 64.3%

HUOP Fredom Trend Prospect (UT) 11,464 - 140 89.5%

Independence Prospect (UT) 20,000 1 31 3.0%

Pine Springs Prospect (UT) 1,321 - 16 100.0%

Edwin Prospect (UT) 946 11 100.0%

Hogback Ridge Prospect (UT) 1,511 - 9 100.0%

Graham Reservoir Field (WY) 640 1 1 80.0%

Spring Valley Prospect (WY) 160 - 1 100.0%

Total 37,227 3 218

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Central Utah Overthrust—Source and Migration Pathway

Mississippian

Source Basin

Several Trillion

barrels of Oil

Generated

It is estimated that approximately one trillion barrels of oil, or

more, were generated from Mississippian aged (359-318 million

year old) source rocks, mostly likely the Chainman Shale, in

western Utah and Nevada. However, only 65 billion barrels have

been found in Utah’s Tar sands.

• Oil found in the Covenant Field has a different source.

• The HPI Liberty #1 discovered pristine Mississippian Oil from

this large source basin, for the first time.

• This identifies a migration pathway from Western Utah, into the

Central Utah Overthrust.

• There are many more undrilled structural closures in the

central Utah over-thrust, the largest of which is Richfield’s

HUOP Freedom Trend Prospect.

• That prospect covers 11 contiguous miles on the northern end

of the Gunnison Thrust. Providence Field

Liberty Field

Covenant Field

Freedom Trend Prospect

Modified from Willis 1999

Modified from Schelling 2007

Tar sands

Tar sands

Tar sands

Tar sands

Only 65 Billion

barrels of oil

are accounted

for in Utah’s

Tar Sands

Mississippian Oil Migration Pathway and trapped oil

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HUOP FREEDOM TREND PROSPECT

Gravity maps show prominent structural anomalies—similar to those in the Covenant and Providence fields but

substantially larger.

Multi-spectral satellite photography reveals Freedom Trend acreage to be among the most hydrocarbon-saturated on the Overthrust.

North

9,000 feet

12,000 feet

6,000 feet

2D seismic shows three, overlapping structural closures in the Twin Creek-Navajo. One engineering study found potential gross reservoir volume in excess of several billion barrels.

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Providence Field

Cross Section Source: Wolverine Gas & Oil Corp.

Categorized as several times larger

than Covenant Field

Covenant Field

Cross Section Source: Wolverine Gas & Oil Corp.

150 million Barrels of Oil

Fountain Green Prospect. Initial test well, to 13,000 feet in

Jurassic will target three repeated sections of Twin Creek-

Navajo with the untested sourcing Mississippian super giant.

Richfield’s Freedom Trend Cross Section Source: Hewitt Petroleum/Richfield Oil & Gas.

Categorized Seismically as several times larger than Providence Discovery

Wolverine Gas and Oil Company’s Covenant Field and subsequent Oxy/Wolverine Providence field discoveries in 2003/4 and 2008, show important similarities with Fountain Green.

• Richfield's position covers the largest

identified undrilled structure in the Central

Utah Overthrust.

• We anticipate a discovery in three

stacked Navajo formations, 1,000+ feet

thick each, filled to spill point.

• The Freedom Trend prospect is in the

Mississippian oil migration path.

HUOP Freedom Trend Prospect

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High

Energy

Wedge

delineated

by blue

faults

•There is a High Energy

Wedge (HEW),

intersecting the top of

the Cretaceous

backthrust in Fountain

Green.

•This appears to be a

collapsed zone with

extensive natural

fracturing.

•The HEW is about

2,500’ thick, covers

about 17 Square miles.

The potential reserves

of this system are as

large as the Navajo

potential.

•The HEW is up-dip of

where the Tununk Shale

is currently generating

hydrocarbons

This structure map of the Emery Fm, is based off of 2-D Seismic, and

is overlaid with our Geochemical anomaly survey. It is extremely

interesting to note that the Geochemical anomalies are outlined by

the faults (in blue) that delineate the High Energy Wedge.

Proposed Location

Cretaceous

Backthrust

High

Energy

Wedge

Unconformity

HUOP Freedom Trend Prospect - Cretaceous Reservoirs

The Cretaceous-Tertiary unconformity is in a position to be an excellent trap for hydrocarbons in the Cretaceous Backthrust.

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• In 1976, Hansen Oil drilled the Moroni #1A, to a

TD of 21,260’, looking for a Mississippian

Objective

• Circulation was lost in the naturally fractured

Tununk Shale (Lower Mancos) at 11,551’. Oil

flowed continuously to the pits. It took 4

months to drill past it and set casing. The well

was later plugged.

• In 1998 Cimarron drilled a horizontal Sidetrack in

the Tununk with 6 failed laterals.

• Limited perforations in the Tununk, through the

stuck drill pipe, have tested as much as 720

BOPD, but Severe mechanical constrictions and

LCM’s have combined to make this discovery

well inoperative in it’s current condition.

Moroni #1-AXZ Gas Flare 20,800 Units

Independence Project – Mancos (Tununk) Shale

When the Horizontal was being drilled,

Lost Circulation Materials were

recovered over 300’ from where they

were put in the ground during the 1976

drilling operations. This shows extreme

natural fracturing.

The extreme nature of the fracturing at

the Moroni #1 AXZH is confirmed by

the Dipole Shear Anisotropy log at

right.

Because Richfield’s acreage is on the

Western side of the Tununk play, close

to where the shoreline was, there are

fewer clays, and more quartz, which

allows the shale to be fractured and

maintain those fractures.

Tununk Core Fragment from Irons #1, Sanpete Co. UT, Showing Silt and Sand stringers interbedded within the shale

Utah during the late Cretaceous

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Mancos Shale and Others Compared

Eagle Ford Shale Texas 200 feet Thick 11,500 feet deep 4.5% Total Organic Carbon .650 Pressure Gradient Requires Hydraulic Fracturing Oil & Gas Prone

Tuscaloosa Marine Shale Louisiana, Mississippi 200 feet thick 10,000 – 15,000 feet deep 1% - 4% Total Organic Carbon .7 Pressure Gradient

Bakken Shale North Dakota, Montana, Canada 150 feet thick 10,500 feet deep 11% Total Organic Carbon .500 Pressure Gradient 85 feet of interbedded siltstone

and sandstone Requires Hydraulic Fracturing Oil Prone

Independence Project Mancos Shale (Tununk) Utah 600-3,000’ feet thick 11,550 Feet Deep 7% Total Organic Carbon .660 Pressure Gradient 180 feet of interbedded

siltstone and sandstone Extensive Natural Fractures Oil & Gas Prone

Utica Shale Ohio, Pennsylvania, West Virginia 140 feet thick 7,500 – 9,500 feet deep 7% Total Organic Carbon .46 Pressure Gradient

A good shale play is defined by having total organic carbon (“TOC’s) greater than 2%, high thermal maturity and a brittle nature that can be fractured. Natural Fractures eliminate the need for Hydraulic Fracturing, saving money reducing possible environmental/political issues. The Tununk member of the Mancos shale is thick, has high TOC’s, interbedded sandstones, natural fractures, and a high pressure gradient, which should yield a higher than average recovery factor.

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OTCQX: ROIL

15 W. South Temple, Suite 1050

Salt Lake City, Utah 84101

Phone: (801) 519-8500

www.richfieldoilandgas.com

Contact Information

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