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ProspEx Resources Ltd | 2008 Corporate Profile | John W. Rossall | Page 1 of 11 | January 30, 2026

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2008 Corporate Profile ProspEx Resources Ltd. - PSX June 2008 ProspEx Resources Ltd. ("ProspEx") is a Canadian junior oil and gas company focused on exploration for natural gas in the Western Canadian Sedimentary Basin. ProspEx has successfully executed a "drill-bit" growth strategy since inception, with production increasing by approximately two and a half times over the last three years. With the objective of becoming an intermediate-sized energy company, ProspEx is focused on continued growth through the drill bit, combined with a new focus on acquisition opportunities. Company Profile Natural gas weighted, full cycle exploration company – focused on drill bit growth in the Deep Basin, West Central Alberta and Southern Alberta, as well as opportunities in a number of "high impact" exploration plays New focus on acquisition opportunities Grow production and reserves while maintaining superior cost performance 141,000 net acres of undeveloped lands Highlights Achieved production growth of 15% per fully diluted share in 2007 18% Proved + Probable reserves growth per fully diluted share in 2007 Strong balance sheet – one year debt to cash flow ratio Successful 2008 winter drilling program – 1,000 boe per day of new production brought on stream Financial and Operating Highlights Financial ($000’s, except per share amounts) Q1 2008 2007 2006 Oil and gas revenue $ 17,378 $ 63,534 $ 51,501 Net (loss) earnings $ (2,110) $ (1,091) $ 5,080 Per share - basic (0.04) (0.02) 0.10 - diluted (0.04) (0.02) 0.10 Cash flow $ 9,181 $ 35,997 $ 27,962 Per share - basic 0.16 0.67 0.56 - diluted 0.16 0.64 0.53 Total Assets $ 196,187 $ 175,765 $ 161,736 Production Volumes Natural gas (mcf/d) 19,064 19,838 16,610 Crude oil and natural gas liquids (bbls/d) 604 593 418 Total (boe/d) (6:1) 3,781 3,899 3,186 Reserves (December 31) Proved (mboe) n/a 6,578 5,716 Probable (mboe) n/a 3,334 2,541 Total (mboe) n/a 9,913 8,257 Barrel of oil equivalent ("boe") amounts have been calculated using a conversion rate of 6,000 cubic feet of gas to one barrel of oil. Boe maybe misleading if used in isolation. A boe conversion ratio of one barrel of oil to 6 mcf of gas is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the well head.