Global Energy Conference Miami, 12th October 2011

2

Forward-looking information Forward-looking information relates to management's future outlook and anticipated events or results, and includes statements and information regarding the future plans or prospects of MENA. Without limitation, statements about reserve and resource estimates, prospective financial performance, financial position and cash flows, and proposed acquisitions constitute forward-looking information.

Forward-looking information is based on certain factors and assumptions regarding, among other things, the impact of increasing competition; the general stability of the economic and political environment in which MENA operates; the timely receipt of any required regulatory approvals; the ability of MENA to obtain qualified staff, equipment and services in a timely and cost efficient manner; drilling results; the ability of the operator of the projects in which MENA has an interest in to operate the field in a safe, efficient and effective manner; the ability of MENA to obtain financing on acceptable terms; field production rates and decline rates; the ability to replace and expand oil and natural gas reserves through acquisition, development or exploration; the timing and costs of pipeline, storage and facility construction and expansion and the ability of MENA to secure adequate product transportation; future oil and natural gas prices; currency, exchange and interest rates; the regulatory framework regarding royalties, taxes and environmental matters in the jurisdictions in which MENA operates; and the ability of MENA to successfully market its oil and natural gas products, and other similar matters. While MENA considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.

Forward looking-information is subject to certain factors, including risks and uncertainties that could cause actual results to differ materially from what is currently expected. These factors include risks associated with the general stability of the economic and political environment in which MENA operates, oil and gas exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other producers, inability to retain drilling rigs and other services, incorrect assessment of the value of acquisitions, the inability to settle the definitive terms of acquisitions and joint venture arrangements, failure to realize the anticipated benefits of acquisitions, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources, reliance on key personnel, regulatory risks and delays, including risks relating to the acquisition of necessary licenses and permits, environmental risks and insurance risks.

The foregoing lists of assumptions, risks and uncertainties are not exhaustive. Additional information on these and other risks that could affect MENA's operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com), or at MENA's website (www.menahydrocarbons.com). You should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While MENA may elect to, MENA is under no obligation and does not undertake to update this information at any particular time, except as required by law.

3

Forward-looking information Resource informationCertain of the petroleum resources set out in this document are classified as "contingent resources". Contingent resources are those quantities of petroleum estimated, as of a given date, to be potentially recoverable from known accumulations using established technology or technology under development, but which are not currently considered to be commercially recoverable due to one or more contingencies. Contingencies may include factors such as economic, legal, environmental, political, and regulatory matters or a lack of markets. It is also appropriate to classify as contingent resources the estimated discovered recoverable quantities associated with a project in the early evaluation stage. Contingent resources are further classified in accordance with the level of certainty.

Certain of the petroleum resources set out in this document are classified as "prospective resources". Prospective resources are those quantities of petroleum estimated, as of a given date, to be potentially recoverable from undiscovered accumulations by application of future development projects. Prospective resources have both an associated chance of discovery and a chance of development. There is no certainty that any portion of the resources will be discovered. If discovered, there is no certainty that it will be commercially viable to produce any portion of the resources.

D&M ReportsFor additional information relating to the reserves and resource estimates respecting our Lagia property, please see the material change report of the Company dated and filed on June 9, 2011 on www.sedar.com, and the joint management information circular and proxy statement of the Company dated April 15, 2011 and filed on www.sedar.com on April 27, 2011.

Gustavson reportFor additional information relating to the reserves and resource estimates respecting our US properties, please see the material change report of the Company dated and filed October 11, 2011 on www.sedar.com.

Uncertainty CategoriesEstimates of resources always involve uncertainty, and the degree of uncertainty can vary widely between accumulations/projects and over the life of a project. Consequently, estimates of resources are generally quoted as a range according to the level of confidence associated with the estimates. The range of uncertainty of estimated recoverable volumes may be represented by either deterministic scenarios or by a probability distribution. Resources are generally provided as low, best, and high estimates as follows:

• "Low Estimate" -- This is considered to be a conservative estimate of the quantity that will actually be recovered. It is likely that the actual remaining quantities recovered will exceed the low estimate. If probabilistic methods are used, there should be at least a 90 percent probability (P90) that the quantities actually recovered will equal or exceed the low estimate.

• "Best Estimate" -- This is considered to be the best estimate of the quantity that will actually be recovered. It is equally likely that the actual remaining quantities recovered will be greater or less than the best estimate. If probabilistic methods are used, there should be at least a 50 percent probability (P50) that the quantities actually recovered will equal or exceed the best estimate.

• "High Estimate" -- This is considered to be an optimistic estimate of the quantity that will actually be recovered. It is unlikely that the actual remaining quantities recovered will exceed the high estimate. If probabilistic methods are used, there should be at least a 10 percent probability (P10) that the quantities actually recovered will equal or exceed the high estimate.

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• Focussed on building and exploiting a portfolio of production, development and high-impact exploration acreage.

• An experienced E&P team with a proven track record in creating material shareholder value.

• Plans to unlock the technical and commercial potential of assets in the Middle East/North Africa (MENA) and Mediterranean regions.

• Initial portfolio comprises: • Lagia development/appraisal asset in Egypt • Block IX exploration in Syria • Development and exploration onshore US

• MENA’s first acquisition (West Mediterranean Block 1 in Egypt) awaiting assignment by EGPC.

MENA: Overview

5

MENA: Capital Market Profile

• MENA Hydrocarbons is listed on the TSX Venture Exchange under the symbol “MNH” following the reverse takeover of SKANA Capital Corp on May 20th, 2011

• Directors and officers of the Company own 91.5 million (40%) of outstanding common shares

• Currently 129.7 million (57%) of common shares outstanding are held in escrow; including 86.6 million held by directors and officers for periods up to 3 years

• MENA Net After Tax NPV10 Reserve Valuation:

• 2P US $53MM

• 3P US $163MM

MENA Hydrocarbons Inc.Trading Symbol (TSXV) MNH Current share Price ($/share) 0.14Shares Outstanding (Millions) 226.4

(1)

(3)

Market Cap (Basic) ($ Millions) 31.7Working Capital ($ Millions) (4.0)Enterprise Value ($ Millions) 27.7

(1) Share price as at September 30th, 2011

(2) Dilutive instruments outstanding include 37.4 million warrants exercisable at $0.35 until June 2013 and 10.0 million stock options exercisable at $0.44 and $0.55 until October 2015 and May 2016 respectively

(3) Estimated working capital as at September 30st, 2011

All dollar amounts are in Canadian dollars unless otherwise stated

(2)

6

MENA: Investment Highlights

ProvenLeadership and Board

Large Prospective

Resource

Sizeable Deal Pipeline

• Utilize commercial acumen to acquire premium assets at the right price.• A proven team of deal-makers used to working together: Past transactions in

excess of $5 billion: Individual deals from $10 million to $2 billion.• Leveraging MENA’s network of contacts in the region; first transaction

agreed, subject to Government consent.

• Graham Lyon, President and CEO formerly VP Business Development of Petro-Canada's International and Offshore Business unit.

• Ex-Petro-Canada International Team.• Executives and Board Members have significant financial, commercial and

technical experience in the region.

• 10.4 MMbbl of 3P oil reserves in Lagia field, Egypt.• 90 MMboe of discovered resources in Egypt (subject to EGPC approval).• 759 MMboe of unrisked prospective resources (best estimate) in Egypt

(West-Med 756 MMboe subject to EGPC approval).• Drilling first of two exploration wells in Syria block IX. • Currently two work-overs and three development wells planned in Egypt.• Net oil 3P reserves of 5.4 MMbbl in the US, net prospective oil resources

of 7.0 MMbbl (best estimate) and net prospective gas resources of 107 Bcf (best estimate)

Operationaland Regional Expertise of

Leaders

• Previous exploration success in Syria, Libya, Tunisia, Morocco, Algeria, Egypt, UAE, Mauritania, North Sea, Caribbean, Russia and Kazakhstan.

• Historical success in the region applying technical expertise to realise significant upside potential in assets.

• An exceptional network of contacts in the MENA region, in governments, NOCs and IOCs to bring opportunities and deal flow.

7

MENA: Proven Leadership Team

Graham Lyon

President & Chief Executive Officer

Jim Strachan

Vice-President &Chief Geoscientist

Jason Bednar

Vice President &Chief FinancialOfficer

Joerg Pigaht

Vice-President &Chief OperatingOfficer

Same team, different vehicle:• CEO, COO and Chief Geoscientist have worked together for 20+ years• Other former colleagues supporting include Legal Counsel, Technical Director, Chief

Economist, Planning Manager, Geoscientist.

8

MENA: Experienced Board of Directors

Abby Badwi

RickGrafton

Successful and experienced executives

RobertCross

MerfynRoberts

Dr. MagdyBassaly

Jason Bednar

BrianTingle

GrahamLyon

GregClarkes

MENA: Regional Focus

• Proven hydrocarbon systems with significant untapped exploration and development potential

• Opportunity to apply new technologies to unlock resource

• Attractive fiscal terms with stable contracts

• Low cost of entry due to “perceived” regional risk

• Abundant infrastructure

• Exceptional contacts

• Closely monitoring “Arab Spring”

Selecting the best assets for investment

9

100% W.I. in undeveloped oil field onshore Gulf of

Suez / Sinai

Development Pilot:

• 2 work-overs

• 2 development wells for

cyclic steam injection

• 1 appraisal well

EGYPT: Lagia Field – Development with Upside

Resource Potential:

• 4.0 MMbbl 2P reserves

• 10.4 MMbbl 3P reserves

• 12.0 MMbbl contingent resources (high estimate)

• NI 51-101 (D&M 2011)

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• Opportunity for increased well productivity using modern techniques on shallow (<1500 ft) oil field

• Oil (16-19° API) in shallow reservoirs

• Wells were successfully tested but never produced

• Oil water contact is not defined, suggesting additional upside potential

• Potential for light oil: 38°API oil recovered from deeper untested reservoirs

• Several untested fault blocks on concession for additional exploration potential

EGYPT: Lagia Field, Technology-Led Development

Lagia Asset Summary Working Interest 100%Block Size 32 km2

Work-overs - 2011 2Development and Appraisal Wells - 2011 1

Prospective Formations Miocene Nukhul, Eocene ThebesTarget Depth <1,500 ft3P Reserves (1) 10.4 MMbbl

2011 Planned Capex $2.8 MM

Planned Capex Cost (US$000)

2011 2012Well Workovers $750Development Drilling $1,240Appraisal Drilling $0

Total $2,420Contingency 15% $363Total $2,783

(1) NI 51-101 compliant reserves estimates based on May 19, 2011 D&M report (see also D&M Reports.

(2) NI 51-101 compliant contingent resources estimates based on March 31, 2010 D&M report (see also D&M Reports).

Development and Appraisal Wells - 2012 6

Contingent Resources (high estimate) (2) 12.0 MMbbl

Production Facilities $430

$0$2,880$3,300$3,400

$9,580$1,437

$11,017

11

EGYPT Lagia: Field Geology

South Lagia 1 Well: light oil potential in deeper reservoirs.

Deeper reservoirs untested beneath

structure crest.

Untested High Block

Main Fault Block containing assigned reserves in Nukhul

Sandstone.

Lagia 10

Lagia 9

Lagia 8

Main Reservoir:• Lower Miocene Nukhul Sst• 5 pay sands up to 85ft net• 2D seismic data available

Significant upside potential in other reservoirs:• Analogue fields (Sudr/Asl) suggest

prolific upside in Eocene Limestone• Deeper targets are untested

beneath structure crest• Thebes Lst, Matulla, Raha and

Nubian Sst• 38° API oil sampled in South Lagia

#1 well. Reservoir unknown.

Top Nukhul TWT structure map (MENA 2011)

12

Top Nukhul TWT structure map (MENA 2011)

Lagia Deep Stratigraphic Column

EGYPT Lagia: Nukhul 2P Production Profile

13

• Development Plan for 2P reserves requires cyclic steam injection.

• The Lagia Nukhul 2P production profile contains significant uncertainty that will be clarified by work-overs, drilling and testing in Q4 – 2011 to Q1 2012

Nukhul Formation

Initial Production 50 bopd

Recovery / Well 59 Mbbl

Average Porosity 16.4%

Average Pay 51 ft.

Permeability 49-158 mD

Cost per well US$ 0.8 MM

*

* see D&M Reports

14

EGYPT Lagia: Reserves

• Price assumption for 2011 crude oil based on Brent price assumption of US$91/bbl inflated at 2%pa, with an adjustment factor of 67% to account for heavy oil.

D&M report (NI 51-101) effective May 18, 2011 (see also D&M Reports)

* Possible reserves are those additional reserves that are less certain to be recovered than probable reserves. There is a 10% probability that the quantities actually recovered will equal or exceed the sum of proved plus probable plus possible reserves.

Reserves CategoryMENA W.I.

(Mbbl)

NPV (US$000)

0% 5% 10% 15% 20%

Proved: Undeveloped 1,149 10,387 5,681 2,425 150 -1,453

Total 1P 1,149 10,387 5,681 2,425 150 -1,453

Probable 2,898 54,816 37,696 26,840 19,646 14,679

Total 2P 4,047 65,203 43,377 29,265 19,796 13,226

Possible* 6,410 107,183 63,759 39,688 25,652 17,039

Total 3P 10,458 172,386 107,136 68,953 45,448 30,265

15

EGYPT West Mediterranean Block 1: Exploration/Appraisal

Signed acquisition agreement to acquire 55%WI in block with undeveloped gas discoveries offshore northern Egypt (WM-1A)

• 60km offshore in water depths of 600-1200m

• Has full 3D seismic coverage

• Multi-TCF gas exploration upside in four untested features, likely to have valuable liquids content

AB (relinq)

C (relinq)

Dekhila

El King

Abu Sir

Al Bahig

El Max

Gas discovery

Gas-condensate prospect

El King Deep

Dekhila Deep

Abu Sir Deep

El King East Deep

West Med Asset Summary Block Operator MENA International Petroleum Co.JV Development Lease Operator North Alamein Petroleum Co.Block Area 1001 sq.kmContingent Resource 0.31 – 0.65 Tcf + 4 – 12MMbbl

Prospective Target Depth 3100 - 4000m TVD ss

Prospective Potential:1.3Tcf + 72MMbblEL King Deep

El King East

Dekhila DeepAbu Sir Deep2011 Planned Capex US$0MM

• SPA signed with Hess (awaiting government approval)

• 5 shallow gas discoveries

• Development lease granted in June 2005 for 20 years from 1st gas delivery (one optional 5 year extension, max to 2039)

• Potential for multi-TCF gas with valuable condensate in traps beneath the existing discoveries

• Moderate exploration risk

• Analogous large discoveries nearby

• New export route available from 2015 (Facilities in planning)

• All exploration license commitments fulfilled

• MENA prospective resource 3.5TCF and 172MMbbl condensate

16

West Mediterranean Block 1: Discoveries and high-impact exploration potential

MENA 55 % (Operator)RWE 35 %Kufpec 10 %

Development Operator is JV NALPETCO

Oligo-Miocene Prospects 4

0.9Tcf + 44MMbbl0.9Tcf + 42MMbbl0.8Tcf + 46MMbbl

(1)

(1) Internal estimate (MENA WI 55%, best estimate)

2012 Planned Capex US$6MM

(1)

17

West Mediterranean Block 1: Multiple pay zones and proven analogues

Oligocene Hodoa field discovery

(BP/RWE 35km to NE)1.5Tcf*

E.Miocene Raven fielddiscovery

(BP/RWE 25km to east) 1.7Tcf

+ 55MMbbl cond*

On-blockMio-Pliocene discoveries

Fayoum field: Pliocene bio-gas

Raven field: E.Miocene Sst

gas with liquids

Hodoa field: Gas with liquids in

Oligocene SstBlock 1:

Dry gas in Pliocene Sst.

Potential for gas with liquids in the Oligo-

Miocene interval.

Block 1: Stacked-pay potentialSource : Wood Mackenzie

*Source: Woodmac

• Deeper multi-zone potential undrilled (Oligocene to early Miocene) despite adjacent analogous discoveries on-trend

• Excellent multi-azimuth 3D seismic program was acquired and interpreted

• Four prospects identified

• Moderate exploration risk (1:3 to 1:6)

• Large high-pressure traps lie directly beneath existing normally-pressured Mio-Pliocene gas discoveries

• Possibility of using deep exploration wells as shallow pool gas producers

West Mediterranean Block 1 : High-impact exploration potential

Source: BP from Whaley,J,2008 - The Raven field: Planning for success. (GEO ExPro, Feb 2008)  

BP’s Raven field El King Prospect

North

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Discovery HIIP Contingent ResourcesMENA WI

Contingent Resources

El King 390-580Bcf + 15-35MMbbl 195 to 405Bcf+ 2 to 7MMbbl 107-223Bcf+1-4MMbbl

Abu Sir 400-420Bcf 200 to 294Bcf 110-162Bcf

El Max 100-200Bcf 50 to 140Bcf 28-77Bcf

Al Bahig 100-140Bcf 50 to 140Bcf 28-77Bcf

Dekhila 180-280Bcf + 50-70MMbbl 90 to 195Bcf+5 to 14MMbbl 50-107Bcf+3-8MMbbl

Totals 585 to 1174Bcf + 7 to 21MMbbl 313-646Bcf + 4 to 12MMbbl

West Mediterranean Block 1: Resources and prospective resources

19

Note: Internal estimates, 100% figures (best estimate). MENA 55%WI.

** Resources of complete prospect. Part of the structure lies in neighbouring concession

ProspectName

HIIP Potential(P99 to P1)

Midpoint ProspectiveResources

Midpoint MENA WI Prospective Resources

Probability ofSuccess

El King Deep 0.4 – 6.6Tcf + 18-49MMbbl 2.87Tcf+132MMbbl 1.3Tcf+ 72MMbbl 15-35%

El King East 1.8-3.2Tcf+83-239MMbbl** 1.7Tcf+80MMbbl** 0.9Tcf+44MMbbl** 25%

Dekhila Deep 0.5-3.4Tcf + 22-253MMbbl 1.6Tcf+75MMbbl 0.9Tcf+42MMbbl 15-35%

Abu Sir Complex 0.6-3.6Tcf+27-276MMbbl 1.4Tcf+85MMbbl 0.8Tcf+46MMbbl 10-25%

West Mediterranean

Block 1

West Mediterranean Block 1 : CNG Development concept for shallow gas discoveries

• Number of tankers depends on gas volume and distance.

• Typically 4 shuttle tankers would be required for the East Mediterranean market.

• Capital costs approx. $260 MM sub sea facilities and wells.

• FPSO loads gas from subsea field.

• FPSO processes gas to CNG, stores condensate.

• Target markets Mediterranean• Gas on gas• Gas on marine oil

20

West Mediterranean Block 1 : Possible Production Profile (deep gas discovery for domestic sales)

21

• The existing discoveries are too small to be developed for the domestic market at current domestic gas prices. Development requires prices in excess of US$ 6/ Mcf. The highest to date is around US$5.70/ Mcf. MENA has potential alternative market development concept via export and CNG.

• A 1.5 TCF discovery with 75 MMbbl liquids could provide in excess of 20% returns with a gas price in range US$3.0/ Mcf to US$4.1/ Mcf for the domestic market.

El KingEl King Deep

Initial production in Mboepd

18 58

Average porosity in %

18-33 20-25

Average pay thickness in m

20-30 15-23

Permeability range in mD

18-2500 n/a

Production quoted in MMboe using 6Mcf = 1 boe

(MENA in-house best estimate)

SYRIA Block IX: Exploration

• Under-explored: 4 wells in 10,000km²

• 28-35 API oils in Mudawara and Harbaja ⁰fields to the south

• Heavy oil fields 15-16º API at Sfayeh-Wahab

to the east

• Nearby gas and oil export lines and a new gas processing plant in Homs (250 MMcf/d capacity)

• 420 km 3D seismic program acquired and interpreted

• Itheria-1 spud 21st July 2011

• Political situation is uncertain but being closely monitored

• MENA (farm-in) 30% non-operator

22

23

Onshore US assets: Lewis & Clark Project

• Acquired by SKANA before RTO

• NW Montana

• Undeveloped oil reserves and prospective resources

• Shallow Mississippian carbonate reservoirs

• Adjacent to Pondera oil field (27-38°API sulphurous crude)

• MENA net 1P reserves 0.4MMbbl, 2P reserves 1.1MMbbl and 3P reserves 5.4 MMbbl

• MENA net prospective oil resources 7.0 MMbbl (best)

• MENA net prospective gas resources 107 Bcf (best)

Lewis and Clark Project area

* NI 51-101 report by Gustavson Associates dated 23rd September, 2011

24

US: Lewis & Clark Reserves

• Summary of Oil Reserves, NPV of Future Net Revenue, Forecast Prices and Costs as of September 1, 2011.

Gustavson Associates effective September 23, 2011

* Possible reserves are those additional reserves that are less certain to be recovered than probable reserves. There is a 10% probability that the quantities actually recovered will equal or exceed the sum of proved plus probable plus possible reserves.

Reserves CategoryMENA

Net(Mbbl)

After Tax NPV (US$000)

0% 5% 10% 15% 20%

Proved: Undeveloped 411 16,057 12,888 10,673 9,052 7,818

Total 1P 411 16,057 12,888 10,673 9,052 7,818

Probable 676 22,805 17,360 13,567 10,825 8,780

Total 2P 1086 38,863 30,248 24,241 19,877 16,599

Possible* 4346 148,134 100,297 69,989 50,094 36,632

Total 3P 5432 186,997 130,456 94,231 69,972 53,231

25

Onshore US assets: Wasatch Plateau Gas Project

• East-central Utah

• Prospective gas resources 50-274 Bcf (net)

• Cretaceous Ferron Sandstones

• Coalbed Methane potential

• Analogues located nearby prove that both h/c systems are effective in this locality

Schematic section showing producing analogues at Clear Creek (conventional

gas) and Drunkard’s Wash (CBM)

26

MENA: 2011 Timeline - Acquire, Explore, Appraise, Develop

* Slide excludes ongoing business development activities

Egypt- West Med Contract Signature

Corporate

Syria

Egypt - Lagia

Egypt – West MedEGPC Approval

OCM

Partner Approval

Contract Signature

• Work-Over 2 Wells

Rent Temporary Processing Facilities

Drill Itheria

Engage Management Team

Evaluated Growth Opportunities

Close Skana RTO

Data Review

Approve Lagia Work Program

• Drill 2 Development Wells

26

• Review strategic options for US assets

Syria • Evaluate Well Results

• Drill Bashaer Exploration Well

Egypt - Lagia

• Drill shallow Appraisal well

• Drill Appraisal well to deeper horizons

• Cyclic Steam Soak Pilot

• Perform Reservoir Simulation

• Drill two development wells

• Appraise other fault blocks and deeper horizons

• Agree Full Field Development Plan

• Procure Equipment for Full field Development Plan

Egypt – West Med• Pre-FEED study for

development option(s)

• Gas Sales Contract negotiations

• Deep Exploration Well design and cost evaluation

• Project Sanction

• Deep Well planning and procurement

* Slide excludes business development activities

MENA: 2012 Timeline - Acquire, Explore, Appraise, Develop

27

MENA: Portfolio Growth and ReplenishmentFilling the

Hopper

25Opportunities

Screen down to 15

Select 10

Define 5

Negotiate 3-5

Close deal3-5

MENA have identified 36 opportunities

25 projects are currently in the screening process, with 11 rejected

13 projects are currently being investigated at various stages

1 opportunity into MENA portfolio (awaiting EGPC approval)

Identify

Screen

Select

Define

Negotiate

Close

OperateOperate 1-2 deals

MENA Project Process

Offers have been submitted and are under negotiation

28

-

200

400

600

800

1,000

24 29

100 40

250

70

MENA INCREMENTAL NPV (US$MM)U

S$M

M (

NP

V10

1/1

/11)

29

MENA: Potential Growth

• MENA market cap at September 30th, 2011 was C$31.7MM• Significant growth expected within the next 3-5 years from existing assets and potential

acquisitions

Value Growth

30

MENA: Summary

Our Energy + Knowledge + Experience = Profitable Portfolio Growth

Proven management team

Unlock resource with modern technology and

commercial acumen

High impact exploration

Acquisition pipeline delivering real growth opportunities

Experienced board members

Positioned to create a vigorous and successful oil and gas company by building and exploiting a portfolio

of production, development and high impact exploration assets

(1) Experienced Team

(2) Overlooked Potential

(3) Deal Pipeline Delivering

31

MENA: The BoardGraham Lyon (President & CEO)

Mr. Lyon is a senior energy executive with over 30 years experience encompassing global technical, operational and commercial leadership roles. Mr. Lyon graduated from Imperial College, University of London with a Bachelor of Science degree (Eng) Honours in Petroleum Engineering with post graduate education from the Ivy School of Business (Canada), SMU Cox School of Business (US) and INSEAD (Europe) in energy related leadership, business administration and M&A disciplines. Mr. Lyon worked with Petro-Canada as an officer and director and through its predecessor companies for 25 years. He held various senior positions, including Vice President Business Development, International and Offshore; Regional Manager for the Middle East and Caspian; Head of Business Development and Production Manager for Egypt. As Vice President of Business Development for Petro-Canada's International and Offshore Business unit, he was also responsible for the strategic planning and economical development of this largest business unit.

Abdel (Abby) Badwi (Chairman)

Mr. Abdel (Abby) Badwi, PGeol, is an international energy executive and professional geologist, with more than 35 years experience in the exploration, development, and production of oil and gas fields, in North America, South America, Europe, Asia and the Middle East. He is currently the President and Chief Executive Officer of Bankers Petroleum Ltd. Previously, he served as President and Chief Executive Officer of Rally Energy Corp., which was sold in 2007. He has been an officer and director of several Canadian public and private companies. Mr. Badwi is currently a director of Bankers Petroleum, Valeura Energy and ArPetrol Inc.

Robert Cross

Mr. Robert Cross has more than 20 years of experience as a financier in the mining and oil & gas sectors. Mr. Cross is a co-founder and Non-Executive Chairman of Bankers Petroleum Ltd., Non-Executive Chairman of B2Gold Corp., co-founder and Chairman of Petrodorado Energy Ltd and, until October 2007, was the Non-Executive Chairman of Northern Orion Resources Inc. Between 1996 and 1998, Mr. Cross was Chairman and Chief Executive Officer of Yorkton Securities Inc. From 1987 to 1994, he was a Partner, Investment Banking with Gordon Capital Corporation in Toronto. He has an Engineering Degree from the University of Waterloo, and received his MBA from Harvard Business School in 1987. Mr. Cross is currently a director of MENA, Gallic Energy Ltd., Bankers Petroleum Ltd., B2Gold Corp., Petrodorado Energy Ltd., BNK Petroleum Inc., LNG Energy Ltd., Avanti Mining Inc. and Zodiac Exploration Inc.

32

MENA: The BoardRichard Grafton

Mr. Richard Grafton has over 30 years' experience in the investment and energy business. Currently, Mr. Grafton is President and Chief Executive Officer of Grafton Capital Corporation, a private capital company concentrating on long term value creation. In 2007, Mr. Grafton was appointed Vice-Chairman of Canaccord Capital Corporation acting as the firm's ambassador to the global energy markets. Prior thereto, Mr. Grafton acted as Executive Vice President and Managing Director, Global Head of Energy of Canaccord Adams where he was responsible for all aspects of the firm's oil and gas operations. Mr. Grafton is currently a director of Peak Energy Services Ltd., Gallic Energy Ltd. and Altus Energy Services Ltd.

Greg Clarkes

Mr. Clarkes is a financier with over 20 years of experience in raising capital for public companies in the resource and industrial sectors. He has been a major shareholder as well as an officer and director of many junior venture companies, and has been instrumental in helping them formulate business plans and strategies resulting in successful utilization of their financial resources. He was a founder, director and significant shareholder of Skye Resources Inc. which was sold to HudBay Minerals Inc. in 2008 for $460 million. He is also the founder, officer and director of SKANA.

Brian Tingle

Mr. Tingle has a Bachelor of Commerce in Finance from the University of British Columbia and has accumulated 15 years of experience in the resource and technology venture capital markets, serving on the board and advisory boards of numerous private and TSXV companies. He is the Managing Partner of a UK Firm that has helped raise over $150 million over the past two years. Mr. Tingle is currently a director of Eshippers Management Ltd. and was, until June 2010, a director of SKANA.

Dr. Magdy L Bassaly

Dr. Magdy L. Bassaly has over 18 years of experience in the international energy sector. He founded the National Geophysical Company in 1996 as well as the National Exploration Company. He founded Alliance International Petroleum Company that held the Lagia development lease in Egypt (Alliance Egyptian National Oil Company). Dr. Bassaly is currently the President of MENA International Petroleum Company and the Chairman of Child Support Foundation (international charity foundation for children in Africa).

33

MENA: The Board

Jason Bednar (VP & CFO)

Mr. Jason Bednar is a Chartered Accountant with more than 15 years professional experience. Mr. Bednar was the Chief Financial Officer of Sagres Energy Inc., (June 2009 – May 2011) and has been Chief Financial Officer of MENA Hydrocarbons Inc. (since July 2010). He was the founding Chief Financial Officer of Pan Orient Energy Corp., a South East Asia Exploration company, from 2004 to May 2009, past Manager of Financial Reporting for Canadian 88 Energy (1998-2002) and former Controller of Canadian Superior Energy (2002-2004). He is a member of the board of directors of Canacol Energy and Solimar Energy, and is the Chairman of the board of directors of Gallic Energy.

Merfyn Roberts

Mr. Merfyn Roberts of London, England has been a fund manager and investment advisor for more than 25 years and has been closely associated with the energy industry. He sits on the board of directors of several resource companies, including Agnico-Eagle Mines Limited, Eastern Platinum Limited and Rambler Metals and Mining plc. Mr Roberts is a graduate of Liverpool University, UK (BSc. Geology) and Oxford University, UK (MSc. Geochemistry) and is a member of the Institute of Chartered Accountants in England and Wales. Mr. Roberts is currently a director of Rambler Metals and Mining plc, Agnico-Eagle Mines, Sennen Resources, Newport Exploration, and Eastern Platinum

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MENA: The Leadership Team

Graham Lyon (President & CEO)

Mr. Lyon is a senior energy executive with over 30 years experience encompassing global technical, operational and commercial leadership roles. Mr. Lyon graduated from Imperial College, University of London with a Bachelor of Science degree (Eng) Honours in Petroleum Engineering with post grad education from the Ivy School of Business (Canada), SMU Cox school of Business (US) and INSEAD (Europe) in energy related leadership, business administration and M&A disciplines. Mr. Lyon worked with Petro-Canada as an officer and director and through its predecessor companies for 25 years. He held various senior positions, including Vice President Business Development, International and Offshore, Regional Manager for the Middle East and Caspian, Head of Business Development and Production Manager for Egypt. As Vice President of Business Development for Petro-Canada's International and Offshore Business unit, he was also responsible for the strategic planning and economical development of this largest business unit.

Jason Bednar (VP & CFO)

Mr. Jason Bednar is a Chartered Accountant with more than 15 years professional experience. Mr. Bednar was the Chief Financial Officer of Sagres Energy Inc., (June 2009 – May 2011) and has been Chief Financial Officer of MENA Hydrocarbons Inc. (since July 2010). He was the founding Chief Financial Officer of Pan Orient Energy Corp., a South East Asia Exploration company, from 2004 to May 2009, past Manager of Financial Reporting for Canadian 88 Energy (1998-2002) and former Controller of Canadian Superior Energy (2002-2004). He is a member of the board of directors of Canacol Energy and Solimar Energy and is the Chairman of the board of directors of Gallic Energy.

35

MENA: The Leadership Team

Joerg Pigaht (VP & COO)

Mr. Joerg Pigaht is a senior operational oil and gas leader with over 30 years experience in the international arena. Mr. Pigaht is a petroleum engineer by background and has spent the majority of his career with Petro-Canada and its predecessor companies. He has led businesses in Libya, producing 100,000 boe/d operated production, and Syria with over 150,000 boe/d equity production. He has developed operated businesses offshore Netherlands for Petro-Canada and most recently in Brazil for Maersk Oil as Director. Joerg has lived and worked during his formative years in Egypt as head of reservoir studies for Suez Oil Company. In the Netherlands as Country Manager, Joerg was responsible for the development of the Hanze field including platform construction and lead the project towards first oil and a successful, incident free first year of production. In the same position in Brazil he was responsible for partnering towards a license round, winning 3 new blocks and securing the future of Maersk Oil in Brazil, leading eventually to other farm ins, and oversaw the planning of three and execution of  one exploration well which was drilled to pre-salt formations.

Jim Strachan (VP & Chief Geoscientist)

Mr. Jim Strachan is an international oil and gas geologist with over 30 years of professional experience. Until recently, he was Chief Geologist for Petro-Canada's International and Offshore Division. In that role he grew its international prospective acreage five-fold and increased discovered resources' potential by 600 MMboe at a finding cost of about $3/bbl through participation in more than 60 wells. Jim led a large international team including geological staff in London, Syria and Libya and was responsible for hiring, mentoring, training, assessment and career-development of the geoscience staff. He was responsible for oversight and audit of Petro-Canada's international subsurface geoscience work including assessment of acreage for licensing rounds and all geoscience aspects of field development plans. Jim developed and maintained standards for subsurface technical work including audit of well plans for international exploration and development projects. Jim has a proven oil-finder's capability coupled with vast international knowledge that has been focused on many regions including North Africa, the Middle East, Caribbean, Latin America and Northwest Europe.

36

MENA: The Team

Technical: J Ebeling, Senior Geoscientist

­ 30 years of technical experience in exploration, development, acquisition & divestment.

­ Western Canadian, Eastern Canadian Offshore, Nigeria & Middle East.

­ Experienced in heavy oil, horizontal drilling, EOR & A&D.

­ Mobil, LASMO, Shell, Suncor, Calpine NGT, Pearl Exploration.

Economics: Roger Burrows, Commercial Director

­ Global experience as Petroleum Economist & Negotiator.

­ Former Director, Economics & Commercial for the Petro-Canada /Suncor and also Chief Economist for Enterprise Oil.

­ Proven track record in international contract negotiations & evaluations in North Africa, Asia, Brazil, Eastern Europe, USA and North Sea.

­ Expert in decision analysis & fiscal modelling in over 30 regimes.

Technical: Leonard J-M Julien, Senior Engineer

­ Over 30 years Petroleum Industry experience in North America and internationally.

­ Production engineering, reservoir engineering and operations management background

­ Heavy Oil exploitation and production experience in Canada, Trinidad, China, Egypt and Syria.

­ Most recently was Manager, Thermal Operations and EOR - Pearl Exploration and Production Ltd., managing the development of Pearl’s Onion Lake (Saskatchewan, Canada) and San Miguel Tar Sands (Maverick County, Texas, USA) heavy oil assets.

Technical: Jonathan Calvert, Technical Director

­ 40 years of experience including 25 with Shell International, time at Veba as Head of Engineering, and 11 as an international consultant.

­ Significant experience across a variety of countries including Africa, Middle East, South America, North Sea, Malaysia, Nigeria, Russia, Indonesia, Pakistan.

­ Particular expertise in pre-project field development studies, evaluations & valuations to deliver cost-effective solutions for marginal fields.

37

MENA: The Team

Planning: Preetha Nair, Planning Manager

­ 20 years international oil and gas experience in senior financial, commercial and technical asset management roles.

­ Previous companies include Petro-Canada, Veba Oil & Gas, PetroFina, Suncor Energy.

­ At Petro-Canada she held responsibilities for the International Division covering North Africa, Libya, Morocco, Tunisia, Syria, Middle East, Iran & Kazakhstan.

Finance: Jeff Metcalf, Financial Controller

­ Chartered Accountant (Canada) with over 8 years of professional experience.

­ Prior to joining MENA he was a Senior Manager in the audit practice of KPMG Calgary, primarily focused on international companies in the energy and energy services sectors. He worked with KPMG LLP in Calgary, Canada and in London, England.

­ Jeff holds a Bachelor of Commerce (Distinction) from the University of Calgary.  

Legal: Paul Stock, Counsel

­ Qualified transactional lawyer with 15 years at global law firms including Clifford Chance, CMS Cameron McKenna & Orrick Herrington.

­ Specialist in large quantum international transactions primarily gained in the oil & gas, energy and telecoms sector.

­ Over 7 years experience in-house at upstream oil & gas production companies including Qatar Petroleum.