small ideas, big vision

Disclaimer
Except for historical information contained herein, this presentation contains forward looking statements including but not limited to
comments regarding Ocyana Solutions FZCO (OSX or the Company) plans to and projections regarding (i) the commercial
success of the proprietary process; (ii) the CAPEX or cost to build a plant; (iii) the cost per barrel to produce and the targeted
netback per barrel; (iv) the breakeven amount per barrel; (v) the timing of the potential plant payback; (vi) the future growth potential
and whether it will be funded by cash flow; (vii) the amount of land to be acquired in the next 12 months; (vii) the potential amount of
oil in place; (ix) the timing of the commencement of production; (x) the target production per process unit or barrel; (xi) the daily
gross profit per unit or per barrel; (xii) the gross profit per annum per unit; (xiii) the Companys growth targets; and (xiv) the operating
costs, transportation costs, and production capacity. These forward-looking statements involve risks, uncertainties and assumptions
and are based on managements current expectations and assumptions. Actual results and the timing of events could differ
materially from those anticipated in the forward-looking statements as a result of risks and uncertainties, which include, without
limitation: general economic conditions and the current economic uncertainty in the global markets; whether the proprietary
technology successfully functions and functions at a commercially viable level; the Companys continued right to use the proprietary
processes and technology; the Companys ability to acquire property with commercially viable levels of bitumen; the continued price
and demand for oil; the Companys ability to raise the capital necessary to build one or more plants; the Companys ability to hire
and retain personnel necessary to successfully operate its business; the speculative nature of natural resource exploration activities;
changes in the operating costs; changes in economic conditions and conditions in the resource, foreign exchange and other
financial markets; changes in the investments and exploration expenditure levels; litigation; legislation; environmental, judicial,
regulatory, political and competitive developments in areas in which the Company operates; technological, mechanical and
operational difficulties encountered in connection with the Companys activities; and other risk factors detailed in the Companys
various filings filed on Sedar at www.sedar.com. You are urged to consider these factors carefully in evaluating the forward-looking
statements contained herein and are cautioned not to place undue reliance on such forward-looking statements, which are qualified
in their entirety by these cautionary statements. These forward-looking statements are made as of the date hereof disclaims any
intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or
results or otherwise.

2014 Ocyana Solutions FZCO. All rights reserved. Copyright. All materials displayed or otherwise accessible through this Presentation
(collectively, the "Content") are protected by copyright law, and are owned by the Company and its licensors, or the party accredited as the
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without the express prior written consent of the Company.

small ideas, big vision

Unique Advantage

CAPEX & OPEX vs. competition

OSX is focused on the extraction of bitumen from U.S. Tar Sands

through a proprietary extraction process that utilizes a patented, EPA
approved chemical.

Highlights:

High Yield: 1,000 barrels/day per extraction unit (projected)

Low Capex: Approx $8.5M per 1,000 bbd module
Fast payback: Projected unit payback less than 36 months
Rapid Growth: 60 month target : 25,000-50,000 barrels per day (target)

..modular and easily relocated modules..

small ideas, big vision

The Opportunity

Untapped US oil sands opportunity

50-80 billion barrels of heavy oil/bitumen in the whole of the US (1)

Licensed to use proprietary Extraction Technology

Ability to extract and process bitumen economically via environmentally friendly process
Chemical surfactant used is biodegradable, non-toxic and EPA approved

Commercial Validation of Extraction Technology taking place now

Production testing is underway at the Stampede Mine, Logan County Kentucky
The Stampede Mine shall be used as model for future facilities

Attractive plant economics

Low capex of approx $15 million per 2,000 BPD capacity facility
Targeted netback of $20-40/barrel at an $80-100 WTI oil price

Robust growth strategy

Low capex and high ROI allows for a fast rollout of internally funded units/plants
(1) Estimated tar sands resource, source: U.S. Department of Energy

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Bitumen Mining vs. Standard Oil
Conventional Oil
Oil & gas wells are not drilled with 100%
success rate
Oil & gas wells production declines over
time
To maintain production levels, new wells
must be drilled = capital investment
Bitumen Mining
Mining only occurs where resources are
known = 100% success rate
Production not subject to conventional
decline until resource is depleted
Capital investment = increased
production
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Canadian vs. US Oil Sands

Canadian oil sands are water wet

Sand grains and hydrocarbon molecules are coated in
water (see Figure 1)
SAGD (Steam Assisted Gravity Drainage) common
process to separate oil from sand
Large infrastructure required to facilitate economies of
scale
High sulphur content (4-5%) limits end markets
Transportation bottlenecks both common and costly

US oil sands are oil wet

Hydrocarbon molecules directly binds to sand grains
SAGD not effective
Low sulphur content (0.5-1.5%) permits greater flexibility
in potential end-use markets

small ideas, big vision

Key Success Factors

1. Feedstock Availability & Price

2. Off-Take Demand & Price

3. Chemical Costs

4. Transportation

5. Economies of Scale**

6. Reliability & Efficiency of the plant

7. Growth & Expansion

Identify & Plan Create & Design Invest & Build Operate & Maintain

small ideas, big vision

Market Size

Targeting oil-sands rich states

Kentucky: 3.4 Billion Barrels

Utah: 32.3 Billion Barrels
Alabama: 6.4 Billion Barrels

CARBON
COUNTY , UTAH
Utah is host to the
largest shallow oil sands
reserves in the United
States consisting of
eight major deposits
containing an estimated
32.3 billion barrels of oil.
Reserves in the
Sunnyside oil sands
region are estimated to
be over 6 billion barrels.
LOGAN COUNTY,
KENTUCKY
Kentucky is an oil-rich state with
an estimated 3.4 billion barrels of
heavy oil in-ground. The state has
very low land acquisition costs, an
efficient permitting process, and is
situated close to East Coast and
US Gulf Refineries. 8

small ideas, big vision

Kentucky Reserves

Stampede Project
120 acres (1000+ target)
2,000 BPD Capacity
No working interest
3rd Party resource estimate: Barrels
Initial Production Facility (i.e.
per Acre Commercial Validation)

Peak Project
500 acres (800+ target)
1,000 BPD Capacity (initial)
25% working interest (carried)
Capital requirement: $300k

Davenport Project
380 acres (750+ target)
2,000 BPD Capacity
100% working interest
Capex Requirement: $4.5M USD

Additional Acreage currently

under discussion

small ideas, big vision

Keystone Pipeline

small ideas, big vision

Extraction Technology

The Extraction Technology is non thermal, mechanical and chemical closed looped
system that utilizes mechanical forces and a nontoxic chemical to completely
(100%) separate the bitumen from the sand. Extraction Technology comprises:
1.Patented non-toxic, biodegradable EPA approved chemical
2.Proprietary mechanical processing equipment

Significant bench testing completed with various tar sands from Canada and US

Benefits include:
Operates without hot water or steam
Avoids the use of caustic solvents
Low water usage, 90% recycled
Eliminated tailings ponds
Uses significantly less energy
Small footprint / Modular
Returns sand with no toxic residues
Low capital/operating cost
Note: The projections and estimates contained in this presentation have not been confirmed and are subject to risks and uncertainties.
Refer to the disclaimer in this presentation and to OSs filings on Sedar at www.sedar.com for a list of risks that may impact future
developments.
small ideas, big vision
Growth Strategy

Year 1 Year 2 Year 5

10,000 acres 20,000 acres under 100,000 + acres
Land Base Target under lease lease under lease

Production Target 2,000 BPD 5-10,000 BPD 25-50,000 BPD

International Commence targeting North Africa, Middle

Chemical Sales East & Asian opportunities

Drilling Program Commence drilling program to develop

reserve analysis

plus pursue business in contaminated sand and oil lakes clean up

small ideas, big vision
Delivery Structure

Debt Provision Equity Provision The project shall be delivered

Prime under the legal framework of an
Investor
LLC company, OSX shall be
30%
appointed as the development &
Development project manager to be the
Manager
investors principle agent.

Vendor Finance BANKS The Project Company will build,

1 70%
Off-take Partner
2 own and finance the Assets under
Investment
feedstock concessions & fuel
purchase agreements.
Project
Offshore 3rd Party Investors
Company
SPV
The Project Company will
LLC
appoint the EPC contractor plus
specialist sub packages for Design
& Build turnkey segments to suit
EPC Asset technical KPIs required for the
Contractor Management cost model.
To maintain continuity
& project performance
Specialist O&M OSX shall take a stake in the
Packages Contractor project company and be its Asset
Manager plus O&M sub contractor
Vendor and EXIM finance could be arranged for a large to co-ordinate, manage & maintain
majority of the equipment within the plant, which shall help the technical KPIs required for the
reduce the upfront equity commitment.
cost model
The present off-take partners have stated the interest to buy
into the projects once in operation, due to the vertical
arrangement with their existing businesses

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Phase 1 project site

Mine expansion

Production Facility

Present mining site

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Phase 1 project site
2,000 BPD Facility using the same technology commenced production testing in Dec 2013(1)

1,000 Barrel/day Processing Unit 42,000 Gallon Storage Tanks

Blending Tanks & Dewatering Screw Ore Hoppers

small ideas, big vision
Estimated Net Back

Estimated Netback Calculation

WTI: $ 80.00 $ 100.00

Heavy oil discount: $ (20.00) $ (20.00)
Net Product sale price: $ 60.00 $ 80.00

Royalties: $ 6.15 $ 8.20

COST OF PRODUCTION
Oil Sand Mining Costs $ 11.84 $ 11.84
Chemicals & Other $ 3.69 $ 3.69
Power $ 0.47 $ 0.47
Labor $ 5.43 $ 5.43
Freight Out $ 6.72 $ 6.72
Total Cost of Production $ 28.16 $ 28.16

GROSS PROFIT per Barrel $ 25.69 $ 43.64

Note: The projections and estimates contained in this presentation have not been confirmed and are subject to changes, risks
and uncertainties. Refer to the disclaimer in this presentation and to OSs filings on Sedar at www.sedar.com for a list of risks
that may impact future developments.

small ideas, big vision

Market Comparable

Heavy Oil Producers Market Cap Prod (BOEPD) Mkt Cap/BOEPD

Parex Resources $ 643,000,000 15,500 $ 41,484

Gran Tierra $ 2,100,000,000 23,000 $ 91,304

Blackpearl Resources $ 563,000,000 9,980 $ 56,413

Twin Butte $ 560,000,000 17,800 $ 31,461

$ 3,866,000,000 66,280 $ 58,328 Average

Pre-production Market Cap

US Oilsands Inc $ 165,000,000 *

MCW Energy Group $ 47,400,000

OSX $ 15,000,000

* Post close of $80M financing announced Sept 16. Expected US Oilsands Capex 2,000 BOEPD Facility: $50M
small ideas, big vision
 Market Comparable

Process Fixed Working Fuel Operating Royalties Total Capex per

Type Capital Cap Costs bbd

Canada Source: Canadian Energy Research Institute, May 2013

$
SAGD $ 19.47 $ 0.44 $ 3.17 $ 11.92 $ 8.65 $ 43.65 32,482
$
Mining $ 31.36 $ 0.66 $ 1.60 $ 17.05 $ 12.50 $ 63.17 76,122
$
Mining/Upgrading $ 50.00 $ 0.99 $ 2.50 $ 23.78 $ 12.63 $ 89.90 129,122

United States

US Oilsands Inc Mining/Upgrading $ 2.63 $ 0.20 $ - $ 38.00 $ 4.00 $ 44.83 $ 25,000(1)

OSX Mining/Upgrading $ 0.85 $ 0.12 $ 0.39 $ 28.98 $ 8.48 $ 38.82 $ 4,300

(1) Fuel included in operating costs

small ideas, big vision

Sales Strategy

Multiple market opportunities for the bitumen produced can be pursued:

Liquid Asphalt Market:

Pricing typically pivots around WTI according to variances in regional
demand for paving projects
Potential reduction in transportation/handling costs due to closer market
proximity

Heavy Fuel Oil:

Pricing typically near or at premium to WTI depending on grade
Requires blending and transport to the US Gulf Coast
Low Sulfur quantity of the material (<1%) provides potential pricing premium

Heavy Crude Oil Refinery Feedstock:

Pricing subject to gravity adjusted WTI
Requires transport to the US Gulf Coast
Low Sulfur quantity of the material provides potential value-added blending
opportunities
small ideas, big vision
Growth Strategy

Year 1 Year 2 Year 5

10,000 acres 20,000 acres under 100,000 + acres
Land Base Target under lease lease under lease

Production Target 2,000 BPD 5-10,000 BPD 25-50,000 BPD

International Commence targeting North Africa, Middle

Chemical Sales East & Asian opportunities

Drilling Program Commence drilling program to develop

reserve analysis

plus pursue business in contaminated sand and oil lakes clean up

small ideas, big vision
Thank You
Feel free to contact us & ask any questions !

Email - dorian.munday@ocyanasolutions.com
Telephone - +971 50 551 3949
Skype - dorian.munday_os

small ideas, big vision