British Columbia, Canada

• High-quality position in rapidly growing northwest extension of the world-class Montney unconventional resource play
• 51,000 net acres with Montney rights (24,400 net acres 100% UGR)
• Additional upside potential in the untapped Buckinghorse Shale resource play
• Total net resource in place of 46 Tscfe from unconventional plays
  • Montney – 21 Tscfe
  • Buckinghorse Shale – 25 Tscfe
• Montney formation has three stacked, commercially-tested intervals, with UGR horizontal wells averaging over 6 MMscfd during initial testing and production
• Current net UGR production to sales of 12 MMscfed from 8 gross (3.0 net) wells (as of 5/24/2011)
• Existing infrastructure and takeaway capacity, with year-round access
• Montney economics are attractive at current gas prices
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Alberta, Canada

• Alberta Deep Basin asset with significant upside potential in emerging Cardium and Second White Specks oil plays, and Montney, Wilrich, Fahler, and Peace River gas plays, via horizontal, multi-stage completions
• Over 12,000 net acres, with approximately 2,000 ac including deep Montney rights
  • Approximately 9,800 ac owned 100% by UGR
• Base net production of 4 MMscfed from 34 gross (24.8 net) existing Gething and shallower gas and oil wells, with liquid yields of 20 bbls/MM
• UGR-owned Berland River Negus plant with 15 MMscfd capacity and liquids extraction processes
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Webb County, Texas, USA

• South Texas Eagleford/Austin Chalk stacked gas play with additional upside potential in shallower Escondido, Olmos and Wilcox formations
• 16,500 net acres in joint venture with Laredo Energy IV
• Current net production of 1 MMscfd from 9 gross (1.6 net) wells
• New EEGS gathering and pipeline system ensures takeaway capacity for future growth
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