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OIL AND GAS

opportunities Indonesia

GROWING a in

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FORWARD LOOKING STATEMENT

This presentation has been prepared for informational purposes only. This presentation is not, and under no circumstances is to be construed as, a public offering of securities or an offering of securities (or a solicitation of an offer) in any jurisdiction in which such offering would be unlawful, including to U.S. persons in the United States. No securities commission or similar regulatory authority in Canada has in any way passed on the merits of the securities of the company or has reviewed this presentation, nor have the securities referred to in this presentation been registered under the U.S. Securities Act of 1933, as amended, or been approved or disapproved by the U.S. Securities and Exchange Commission, any state securities commission or any other securities regulatory authority in the United States. Any representation to the contrary is an offence. No person is authorized to give any information or make any representation not contained in this presentation in connection with an offering of securities of the company and, if given or made, any such information or representation may not be relied upon. The information in this presentation is confidential and is intended for use only by the recipient. It should not be reproduced or disclosed to any other person without the consent of the company. This presentation remains the property of the company and must be returned on request and any copies you have made must be destroyed.

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BUKIT ENERGY INC.

Private Company founded in 2010 Calgary Corporate office Jakarta Operations office 34.5 million outstanding shares $9 million in cash

Bukit is recognized as the leading company in the emerging unconventional business

First unconventional PSC award expected May-14

5 Joint Studies complete giving Bukit a right of first refusal on additional PSCs

Four production sharing contracts in Indonesia

Kisaran PSC (22.5%): Appraised oil field progressing for 2015 first oil

Mahato PSC (37.5%): Drilling of oil field extensions planned for end 2014

Bohorok PSC (45%): Seismic acquisition ongoing to support 2015 drilling

Palmerah Baru PSC (54%): new award Q1/14

INDONESIA

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SUMATRA

500 km 0

SUMATRA A WORLD-CLASS HYDROCARBON PROVINCE

Globally competitive fiscal terms Increasing gas shortfall, expansion of

domestic LNG import yields high domestic gas prices

Extensive gas infrastructure connecting major SEA population centers 100+ million people

Major O&G companies operating in area: Chevron, ExxonMobil, CNOOC, Conoco-Phillips, Talisman, PetroChina

Technology under-applied on existing fields

25 BBOE discovered to-date 18 BBOE Produced Producing > 1 million BOEPD Unconventional Potential

Oil: 8 Billion bbl risked UR (EIA 2013) Gas: 51 Tcf risked UR (CERA 2012)

Kuala Lumpur Medan

Singapore

Jakarta

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Grow production & cash flow by applying proven technologies to under-exploited assets in a world-class hydrocarbon province asset acquisition and organic growth

Position Bukit for significant value multiples by being the leading holder of acreage with unconventional potential

=

BUILDING VALUE BY APPLYING PROVEN TECHNOLOGY IN A WORLD CLASS HYDROCARBON PROVINCE

Establish production to generate cash flows

+ +

Material position in emerging

unconventional business

Near-term production increases via field

optimization, new field developments and

step-out exploration

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EXECUTIVE MANAGEMENT

Dr. Sean Guest CEO* CEO of Pexco Private O&G (>$1/2 Billion EV) operating in Indonesia, Malaysia & Australia Previous Experience in Shell and Woodside - SEA, Australia, and North Africa Successful track record in developing production & building value in Sumatra

Jerry Sykora President* 30+ years E&P experience in Canada, Indonesia, and Yemen Specialized in commercializing new ventures in SE Asia & Indonesia

Gordon Begg COO & Managing Director - Indonesia 25 years E&P experience (17 yrs. Talisman) in Canada, Indonesia, UK , Norway Operations experience in both conventional and unconventional assets 8 years Indonesian experience managing production optimization 100+ frac operations

Dean Callaway CFO 25 years of International E&P, utility and investment banking experience Former CFO of TSXV and private E&P companies with Asian operations

Dr. Tim England EVP Exploration & Production* 30+ years E&P experience based in Canada, USA, UK, Norway Former Talisman VP Exploration, international new ventures including SE Asia Extensive experience in conventional and unconventional exploration

Eamon Hurley EVP and General Counsel* Founder, Director and officer Black Gold Energy Former officer of Unocal Indonesia

BOARD OF DIRECTORS

Donald Hansen Chairman Founder and Director of Black Gold Energy Founder and Managing Director of SW Energy Capital fund Former President and CEO of Northrock Resources Ltd. Former VP International Energy Operations Unocal

responsible for new venture initiatives

Paul Gilleran Director Founder and business developer of Black Gold Energy 30+ years experience in onshore and offshore geophysical

industries, 20 years in SEA region

Black Gold Energy $6 million in 2006 seed capital sold in 2009 for US$ 300 million

* Also on Board of Directors

MANAGEMENT TEAM SUCCESSFUL TRACK RECORD IN INDONESIA & SEA

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Successful 2 well appraisal of the Parit-Minyak Oil Field in Kisaran PSC Development Plan progressing for 2015 first oil

Successful flow of wet-gas from the tight unconventional formations below the PM Oil Field Appraisal planned in 2015

Award of Palmerah Baru PSC within Talisman/ConocoPhilips production area First Unconventional Contract Terms released by government best contractor

terms ever offered in Indonesia First Unconventional Bid Round in January 2014 Bukit expects award of PSC at

Indonesian Petroleum Association Convention in May Strengthened Bukit Executive team new CEO in February 2014 Private financing raised $13.2 million @ $1.25/share in Q3 2013

BUKIT ENERGY PAST 12 MONTHS

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STRONG SUMATRA ACREAGE POSITION

500 km 0

COMPANY NET ACRES

Pertamina (NOC) 6.40 MM Energi MP 2.07 MM Chevron 1.59 MM Medco 1.48 MM BUKIT 1.26 MM Talisman 1.08 MM PetroChina 0.59 MM ConocoPhillips 0.50 MM CNOOC 0.47 MM

Expect to add four additional PSCs in 2014 - 800,000 net acres (at cost of $8/acre)

+ Kuala Lumpur

Medan

Jakarta

Palmerah Baru

Mahato

Kisaran

Bohorok

Singapore

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Parit-Minyak Field ready for development 2 successful appraisal wells in 2013

- tested up to 400 bopd, no water Recoverable Oil estimated 22 MMbbl (gross) Peak production up to 5000 BOPD (gross) First Oil in 2015 Single well-based returns >60%

Follow up exploration with 87MMboe (Net) unrisked potential

Synergies between conventional and unconventional development Planned wet-gas appraisal in 2015

WI

22.5% NET ACRES

48,425 Non-operated

KISARAN PSC

20 km 0

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KISARAN PM-2 OIL DISCOVERY

Discovery Well PM-1 2006

Appraisal Well PM-2 2013

Oil Shows

Mid

dle

to L

ower

Pem

atan

g Fo

rmat

ion

Seq

uenc

e A

Seq

uenc

e C

80 to 265 bpd 37o API oil; 0% water

17 to 40 bpd oil; 0% water

Seq

uenc

e B

Seq

uenc

e B

S

eque

nce

C

Seq

uenc

e D

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40 km 0

MAHATO PSC

WI

37.5% NET ACRES

522,282 Non-operated

On trend to Chevron oil fields: 10+ billion bbl

North Petapahan Area 600+ mmbbl produced from adjacent fields

Near-term activity 1 appraisal/development well 2 step-out exploration wells

Southwest Balam Area 470+ mmbbl produced from adjacent fields Field extensions with 50+ mmboe gross potential

Near-term activity 2D seismic to confirm drill candidates

Southwest Balam

North Petaptahan

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Petapahan Field extends into Mahato Chevron development started 5 years ago 2013 development well ~100m from border Mahato PSC allows for immediate

production P1 well planned in Q1 2015

Saketuk Prospect (P2) Low-risk near-field stepout well Well TD of 5,600 ft (USD $3.5 mil Gross)

PETAPAHAN FIELD

B

A B P1 P2

MAHATO Petapahan field extension and step-out

Mahato PSC Petapahan Field

A P2

P1 PETAPAHAN FIELD P1 P2

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Next to producing oil and gas fields > 125 mmboe

Existing infrastructure to Medan gas prices $10+/mscf Benggala gas/condensate field producing 1 year

after discovery

Pertamina (NOC) investing significant funds after recent discoveries $70 million on 3D seismic Field extension drilling on Benggala Near-term activity 2014 2D seismic 2015 1-2 exploration wells

BOHOROK PSC

40 km 0 WI

45% NET ACRES

588,391 Operated

Medan

Wampu Benggala

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On-trend exploration: Large under-drilled area (1,300 km2 ) Low to medium risk step out exploration 12 leads and prospects with > 75 mmboe

resource potential

B

B A

A

20 km 0

BOHOROK Step-out Drilling

Prospect D

Diski

Wampu

Benggala Batmundi

PPT

Basilam

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Offsets producing Jambi Merang and Corridor PSCs

(Talisman and ConocoPhillips) 1,500 MMBOE discovered Currently producing 200,000 BOEPD

Located in Bukit focus Area Bukit has right of first refusal for 2 unconventional

blocks in this area

PALMERAH BARU PSC

20 km 0 WI

54% NET ACRES

131,966 Operated

BUDI Oil Field 2013 Development

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Developed in 2013 12 months from approval to first oil Phased development to increase sub-surface

understanding created capital efficiencies

Phase 1 Low cost development- US$15 mil capex 5 development wells Fraccing used to increase production Production 1,300 bbl/d: 60% above plan Current P+P reserves: 10MMbbl

Phase 2 (2014) 6 well infill program (US$14) Planned production of 2,500+ bbl/d

BUDI OIL FIELD (AREA CASE STUDY)

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500 km 0

Unconventional Oil 8 Bbbl risked rec. (EIA 2013)

Unconventional Gas 50 TCF risked rec. (Cambridge Energy Research 2012)

Unconventional PSC terms released in 2013 best fiscal terms ever in Indonesia

First unconventional bid round occurred Q1-2014 Bukit expects award in Q2-2014

Large PSCs with low-cost holding for 10 year exploration period

Bukit internal technical work mapped potential sweet-spots to focus acreage acquisitions

Bukit flow tested tight wet gas in 2013 appraisal planned for 2015

VALUE UPSIDE FROM EMERGING UNCONVENTIONAL IN SUMATRA

Kuala Lumpur Medan

Singapore

Jakarta

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UNTAPPED POTENTIAL IN SUMATRA

Mature 661,185 Km2 $142 / Acre capture cost (2012) 90,000 boe/km2

conventional resource density Highly fragmented land position >50% of wells drilled in 2012

were Horizontal

ALBERTA Under-exploited 473,481 Km2

$8 / Acre capture cost (Bukit) 360,000 boe/km2

conventional resource density

Large contiguous blocks

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KISARAN PSC CONVENTIONAL & UNCONVENTIONAL DEVELOPMENT SYNERGIES

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Kuala Lumpur Medan

Jakarta

Palmerah Baru

Mahato

Kisaran

Bohorok

500 km 0

PRODUCTION 2014 - Acquire producing asset with upside potential 2014/15 - Drilling activities to increase production

DEVELOPMENT 2014 - Develop PM Oil Field in Kisaran for 2015

production follow on from successful appraisal drilling in 2013

APPRAISAL 2014/15 - Appraise producing oil field extensions in

Mahato - planning for late 2015 production 2015 - Appraise the PM Deep gas-condensate

Discovery (2013) positive evidence for unconventional potential of the block

EXPLORATION 2015 Drill 1-2 near-field prospects in Mahato 2015 Drill 1-2 wells in Bohorok

NEAR-TERM ACTIVITIES ADD PRODUCTION AND RESERVES

Singapore

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Production Asset

Kisaran

Mahato

Bohorok

Palmerah Baru

Barumun

Palmerah Deep

Sakakemang Deep

2014 2015 2016 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

Con

vent

iona

l U

ncon

vent

iona

l

DEV. DRILLING DEV. DRILLING

Develop PM Oil Field FIRST OIL

Development FIRST OIL

1 2 Expl. Wells

Seismic

App. Well

Expl. Wells

Block Award

Block Award

Block Award

Seismic

Seismic

ACTIVITIES YIELD NEAR-TERM PRODUCTION

Acquire Asset

FIRST OIL

2 - 3 App./Expl. Wells