Parrylands Block E

The initial field is Parrylands Block E sitting on the highest point on the Southern end of the Island. This position on the top of the anticline makes for favorable geology and has 110 drilled and equipped wells in place for EOR.

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Project Statistics and Highlights:

+/- 1200 feet

Well Depth

50’-250’

Net Oil Pay Sand Thickness

> 7500 BOPD

Expected Perrylands Peak

< 0.5%

Sulfur Content

< 1%

OOIP Produced Initially

81 MMBO

Estimated Original Oil in Place (OOIP)

> 75 BOPD

Steam & CO2 Projected

50%

Texaco Achieved Recovery with Steam

75%

Oil Saturation

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Financial Highlights

Greenflame Energy has secured a working interest of 80% in the oil produced via a PSA subject to the following offsets:

Heritage Oil takes 16% of production in a Crown Royalty

No capital costs required for Drilling and Exploration

Minimal Operating Cost for Natural Gas to generate steam.

Industry high netback per Bbl. $50.00

Currently producing 175 boepd and cash flow positive.

Organic Growth from Cash flow at 500 bopd.

Overview

Trinidad and Tobago (“T&T”) consists of twin Caribbean Islands just off the NE coast of Venezuela. English Speaking Democracy (former British territory) T&T attracts considerable foreign direct investment from international businesses, particularly in energy, reaching $2.4b in 2014. Energy production and downstream industrial use dominate the economy and T&T is the largest oil and gas producer in the Caribbean. Producing oil & gas for over 100-years with over 3 billion barrels of oil produced to date.