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INVESTOR PRESENTATION

Confidential Material

February 2013

2

Page

Company Overview 2

Kansas Asset Overview 11

Utah and Wyoming Asset Overview 21

TABLE OF CONTENTS

Company Overview

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INVESTMENT HIGHLIGHTS

• Demonstrated a unique ability to identify, evaluate and develop undercapitalized assets• Found in excess of 1 BBoe of reservoirs in the UT / WY overthrust belt• Pioneered the dewatering production methods now in use throughout Kansas and

Oklahoma, by many operators

Strong Management Team with Proven Track Record

• Award-winning geologists with over 208 years of combined experience in analyzing drilling and development opportunities in Kansas and Utah

• Experts in exploring for and producing from reservoirs that are not in capillary pressure equilibrium and subject to damage from standard drilling techniques

• Expertise in overthrust geology in Rockies

Best in Class Geological Team

• Fields with long production histories and significant well control• Documented pay in areas with low historical recovery due to antiquated methods• Significant inventory of low-cost, high-return behind pipe and offset opportunities

Low Risk Assets

• Database of over 300,000 wells – most comprehensive Kansas dataset• Allows for rapid identification and evaluation of potential acquisitions• Proven strategy originally developed by the Richfield management team

Proprietary Database and Research Technology

• 1,656 MBoe Proved Reserves (95% oil) - 5,447 MBoe 2P Reserves (91% oil)• $33.9 million Proved PV-10 ($158.3 million 2P PV-10)• Additional unbooked potential in horizontal Mississippian well locations• World class upside in Utah acreage in the Navajo Sandstone, Mancos Shale,

Mississippian, and other formations

Liquids-Rich Asset Base with Significant Upside Potential

Superior Well Economics

• Well costs range from $0.25 - $0.50 million, with 26 MBoe EUR per zone• Additional performance-based upside of 80 MBoe per well in the Arbuckle Formation• Re-work and new drill type wells produce IRR’s of 329% and 126%, respectively

5

HIGHLY EXPERIENCED MANAGEMENT TEAM

• 27 years in managing all aspects of oil company development, including geological analysis, design and implementation of advanced engineering, field management and finance

• Founder & CEO of publicly traded HEGCO Canada, an oil & gas exploration company (1995-2000), Iron Thunder Drilling (1998), Nemaha Services (1991), Hewitt Energy Group, Inc. (1988), and New Century Petroleum (1986)

Douglas C. Hewitt: Chairman, President and CEO

• Practiced law since 1980, over 17 years experience advising oil and gas companies in all areas including leasing, environmental and regulatory compliance and securities matters

• Practiced law with Dexter & Dexter Attorneys at Law from 2004 to 2008• Served as the General Counsel and CFO of HEGCO Canada, Inc. from 1997 to 2002

Mike Cederstrom: General Counsel and Corporate Secretary

David B. Hardman: Controller

• Significant experience in both public accounting and private industry• Spent 10 years serving as a Vice President and Controller for a publicly traded company in

California as well as CFO for Big West Oil, with over $2 billion in annual sales• Spent 9 years in public accounting with PricewaterhouseCoopers

• 30 years as a CFO for the Oil and Gas and Financial Services industries, internationally• Served as an officer and director for numerous private and public companies• Lead roles in acquisitions, divestitures, turnaround situations and start-up businesses

Glenn MacNeil: CFO and Director

David Detton: Land and Legal

• Licensed Utah attorney since 1976, former partner in two of the 100 largest U.S. law firms• Managed land teams for over $1 B in acquisitions of oil & gas companies• Managed company’s recent acquisitions of over 12,000 acres of mineral rights and 10,000

acre feet of water rights

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DISTINGUISHED BOARD OF DIRECTORS

• 40 years of entrepreneurial experience• Founded Valley Sanitation and merged with 10 other waste businesses to form Superior

Services, Inc.• In 1996, as President and Chairman, completed a successful IPO on the NASDAQ• In 1999, Superior was sold to Vivendi, a French conglomerate for over $1 billion

Joseph Tate: Independent Director

• 38 years of experience in the investment banking industry• Served with The First Boston Corporation / Credit Suisse First Boston in corporate finance

and public finance, including as Vice President and Treasurer. Served as Sr. Managing Director of Cambridge Holding and Cambridge Partners, LLC

John McFadden: Independent Director

• Brings many years of top-level business and entrepreneurial experience to the Company's Board

• From 1998 to 2002, Mr. Grimm served as: President and CEO of Sam's Club as well as Executive Vice President of Wal-Mart Stores Inc., based in Bentonville, Arkansas

• Mr. Grimm served as the CEO of Pace Membership Warehouse, a subsidiary of Kmart Stores Inc.

• Founder, President and CEO of Price Savers Membership Warehouse, which achieved one billion dollars in sales in its last year prior to being acquired by Kmart Stores Inc.

Thomas R. Grimm: Independent Director

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BEST IN CLASS TECHNICAL TEAM

• From 2007 to 2009, served as SVP of Exploration for Hunter Energy, LLC• From 1990 to present, has served as President of Safford Exploration - resulted in the

discovery of the 1 MMBO Thief Creek Field in the Wyoming Thrust Belt for Anshutz Corp.• From 1976 - 1990 worked for Chevron, supervised the development of Whitney Canyon -

Carter Creek fields, and served as District Geologist of the Mid-Continent District

Monty Hoffman: Production Geologist

• Over 50 years of oil and gas experience• Currently with Safford Exploration, where he served with the team responsible for the

discovery of the 1 MMBO Thief Creek Field in the Wyoming Thrust Belt• From 1956 to 1989, served as a geologist for Chevron where he was part of the team who

discovered Ryckman Creek (1976), Painter Reservoir (1977), East Painter Reservoir (1978), Whitney Canyon-Carter Creek (1977), and Glasscock Hollow (1980) fields

Paul Lamerson: Consulting Geologist

Raina Powell: Production Geologist

Jeremiah J. Burton: Geologist

• From 1976 - 1990 worked for Chevron in various roles, including the geologic negotiations with partners in Painter and East Painter fields

• Since 1990, has served as a Staff Geologist for Safford Exploration, Inc.• Experience in several Wyoming basins, in the Williston Basin, and in Texas and Kansas• From 2003 to 2005, served as Senior Staff Geologist for Nautilus Resources; supervised

the Gebo Field, which doubled from 500 BOPD to 1000 BOPD

• 15 Years of Oil and Gas Experience in the Mid-Continent and the Rockies, including work for Flying J Oil & Gas, and permitting work for Anadarko in Alaska.

• 10 years with Richfield and its Predecessors, including the initial identification, and evaluation of Richfield’s current Mid-Continent Properties.

• Helped Develop Richfield’s Proprietary exploration database

Bill Alexander: Petroleum Engineer

• Over 60 years of oil and gas experience• From 1960 to 1974, served as a drilling and completions engineer and field engineer with

Shell Oil Company• Also served in various engineering roles with Kirby Exploration, Alexander Drilling,

Natomas North America, and Pennaco Resources Company

8

North American exploration and production company based in Salt Lake City, Utah

Publicly-traded on the OTCQX U.S. Premier Market; Ticker Symbol: ROIL

Incorporated April 2011, simultaneous with the merger with Hewitt Petroleum, Inc.

Unique balance of low-risk assets with immediate cash flow impact and long-term upside:

Kansas - Low-risk, low-cost, high return assets

Independence Project, Mancos Shale - Moderate risk, high upside

Central Utah Overthrust –High Risk, high upside

Near-term strategy focuses on increasing cash flow through exploitation of Kansas assets

2013 – 2014 capital program includes 80 re-work and new drill operations

5 additional horizontal Mississippian well locations

Pursue cash-flow accretive bolt-on acquisitions in core operating region

Central Utah Overthrust acreage provides significant upside potential through Mancos Shale exposure

8,510 net acres with unbooked resource potential in the Navajo Sandstone, Mancos Shale, and deep Mississippian formations (127 potential drilling locations)

20,000 gross acres prospective for the Mancos Shale (31 potential drilling locations)

o Partnered with experienced, NYSE-listed, independent operator with extensive experience in unconventional resource plays

COMPANY SUMMARY

9

Unproduced Oil and Gas Zones Arbuckle Overview

Main target is the Arbuckle formation, a water-drive reservoir system that has yielded 2.4 billion barrels since the late-1920s

Typically outfit new or recompleted Arbuckle wells with high volume submersible pumps

Typical well will produce 10-40 BOPD and with proper well density, these oil rates can increase

Untapped Potential

Formation has been produced almost exclusively from its topmost layer

Productive lower Arbuckle intervals exist in every major CKU field. These zones were only sporadically produced—mainly due to a lack of information sharing among an unsophisticated, under-capitalized producer base

Behind Pipe Reserves

Recent cased hole logs on Richfield’s wells identify significant new reserves in two of Central Kansas’ largest fields

CENTRAL KANSAS UPLIFT OVERVIEW

2009 Halliburton TMD Log, Gorham Field

2009 Halliburton TMD Log, Trapp Field

10Source: Pinnacle Energy Services, LLC Reserves and Engineering Evaluation dated January 18, 2013Note: includes Kansas and Wyoming Reserves only. Wyoming represents 3.4% of total proved reserves. Excludes Utah resource potential.

PV-10 by Reserve Category Reserves by Category

2P Reserves by Hydrocarbon Proved Reserves by Field

Total Proved PV-10: $33.9 millionTotal 2P PV-10: $158.3 million

RESERVES SUMMARY

Total Proved Reserves: 1,656 MBoe (95% Oil)Total 2P Reserves: 5,447 MBoe (91% Oil)

Gorham55%

Koelsch11%

Perth10%

Trapp8%

Other16%

PD10%

PUD11%

PROB79%

PD10%

PUD20%

PROB70%

Oil91%

Gas9%

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RESERVES SUMMARY (CONTINUED)

Source: Pinnacle Energy Services, LLC Reserves and Engineering Evaluation dated January 18, 2013Note: Excludes Utah resource potential.1. Represents 5 horizontal Mississippian well locations; additional reserves and present value represent increase well performance from the PD and PUD drilling locations.

Significant Performance-Based Upside

Reserve Drilling Net Net Reserves DataClass Locations PV-10 ($MM) Oil (MBbl) Gas (MMcf) MBoe % Oil

PD 32 $15.6 546 118 566 96.5%

PUD 43 18.3 1,022 409 1,090 93.7%

Total Proved 75 $33.9 1,568 527 1,656 94.7%

PROB1 5 $124.4 3,407 2,304 3,791 89.9%

Total 2P 80 $158.3 4,975 2,831 5,447 91.3%

Kansas Asset Overview

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MAJOR OPERATORS IN KANSAS

Central Kansas Uplift

Gorham Field• 1,218 acres• 45 locations

Trapp Field• 160 acres• 7 locations

Koelsch Field• 480 acres

• 10 locations

Perth Field• 480 acres

• 10 locations

South Haven Field• 248 acres• 5 locations

Bull Field (Oklahoma)• 40 acres• 1 location

Richfield Leaseholds and Major Kansas Operators Richfield Properties

Richfield’s acreage is located in the heart of the Central Kansas Uplift

2,626 gross acres

78 total drilling and workover locations

Source: Company filings, PLS Oil & Gas Database

Richfield Leases

Cherokee Basin

Bourbon Arch

Forecast City Basin

Nemaha Anticline

Salina Basin

Sedgwick Basin

Cambridge Arch

Legend Operator

Apache

Chesapeake

Encana

Sandridge

Shell

Hugoton Embayment of the

Anadarko Basin

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Sample Drilling Activity Since 2011

CENTRAL KANSAS UPLIFT – RECENT DRILLING ACTIVITY

Source: HPDI DrillingInfo

Richfield Leases

Central Kansas Uplift

Graham Rooks Osborne

Mitchell

Cloud

Trego Ellis Russell

Lincoln

Ottawa

Ness Rush Barton

EllsworthSaline

Hodgeman

Pawnee

Stafford

RiceMcPherson

Ford

Edwards

Pratt

Reno

Harvey

Clark

Kiowa

ComancheBarber Harper

Kingman

Sedgwick

SumnerLeroy Farming T #1-3030 day IP: 145 Boe/d‐

Completed: Sept. 2011

Fleger B #130 day IP: 86 Boe/d‐

Completed: April 2011

Fleger B #190 day IP: 34 Boe/d‐

Completed: March 2012

Hopkins ET #1-3260 day IP: 208 Boe/d‐

Completed: Sept. 2011

Funk, Wayne #1-3260 day IP: 145 Boe/d‐Completed: Feb. 2011

Wegele #1-3260 day IP: 133 Boe/d‐

Completed: April 2012

Violet #130 day IP: 94 Boe/d‐

Completed: Jan. 2012

Krupp #1-107 month Peak Rate: 100

Boe/dCompleted: April 2011

Andra 8-1260 day IP: 13 Boe/d‐

Completed: Dec. 2011

Homer 7-1130 day IP: 16 Boe/d‐

Completed: Aug. 2012

Ruyle 11-3190 day IP: 20 Boe/d‐

Completed: July 2011

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Proprietary database that includes well data from several public and private sources

Data on 300,000+ wells drilled in the mid-continent since the 1920s

Invested over $3 million in unique strategic advantage which allows Richfield to:

Allocate capital to best drilling targets

Identify and evaluate acquisition targets

EXPLORE AND RESEARCH SYSTEM (“EARS”)

Production history charts

Well data

Well logs & cross-sections

Most Comprehensive Source of Kansas Production, Completion, and Geological Data

16

0

100

200

300

400

500

600

700

800H

isto

rica

l Gro

ss P

rod

uct

ion

(B

oe/d

)

Braman Field – Historical Production And Development Activity

Douglas Hewitt pioneered the dewatering production methods now in use throughout Oklahoma, by many operators

PROVEN PRODUCTION METHOD

Source: IHS Herold

Acquired for $5,000

$2.6 million total capital expenditures:• 6 New Drills• 3 Re-works• 5 Wells high-volume

submersible pumps

Peak Production: 715 Boe/d

Sold for $6 million

17

Well Rework Program Assumptions New Drill Program Assumptions

PROLIFIC WELL ECONOMICS

Source: Management Estimates

Gross Well Cost $245,000

30 Day IP Rate 30 Boe/d

Initial Decline (% / year) 54.8%

Gross EUR (MBoe) 70

PV-10 ($ millions, $80 / Bbl) $1.8

IRR ($80 WTI) 329%

Gross Well Cost $476,000

30 Day IP Rate 60 Boe/d

Initial Decline (% / year) 54.8%

Gross EUR (MBoe) 57

PV-10 ($ millions, $80 / Bbl) $1.3

IRR ($80 WTI) 126%

IRR Sensitivity ($2.50 / Mcf Flat Pricing) IRR Sensitivity ($2.50 / Mcf Flat Pricing)

$70.0 $75.0 $80.0 $85.0 $90.0 $95.0 $100.0 250%

300%

350%

400%

450%

500%

Oil Price($ / Bbl)

IRR

$70.0 $75.0 $80.0 $85.0 $90.0 $95.0 $100.0 80%

100%

120%

140%

160%

180%

200%

Oil Price ($ / Bbl)

IRR

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Operating Region Richfield Development Plan

Asset Overview ($ in millions)

A geological report on a Gorham Field well log indicates over 50’ of pay

Only the top 2’ – 5’ of the Arbuckle has been produced in the entire field

2013 - $10.6 million capital expenditures

19 re-work operations (including 7 PDP)

13 new drill locations



Anticipated production growth:

Current Net Production: 15 Boe/d

Expected 2013 Exit Rate in excess of 700 Boe/d

GORHAM FIELD

Gross Acreage 1,218Average WI / NRI 100% / 80%

Locations PV-10PDP (Re-work) 7 $2.0Re-work 12 7.9New Drill 26 8.3

Total Proved 45 $18.2Performance-Based 93.2

Total $111.4

Source: Pinnacle Energy Services, LLC Reserves and Engineering Evaluation dated January 18, 2013

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Operating Region Field Description


KOELSCH FIELD

Field was discovered in 1952 and abandoned in 1957, leaving 3.9 – 6.4 MMBoe recoverable




2 horizontal Mississippian locations






Gross Acreage 480Average WI / NRI 85.5% / 67.5%

Locations PV-10PDP (2 Re-work) 3 $0.9Re-work 1 0.8New Drill 4 0.9Probable (Mississippian) 2 2.6

Total 10 $5.3Performance-Based 11.5

Total $16.8


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TRAPP FIELD

Focus area is the highest part of the structure

Wells historically experienced the highest IPs, highest EURs, and most recoverable reserves

Should the pilot project prove successful, ROIL can expand to the entire field








Gross Acreage 160Average WI / NRI 100% / 78%

Locations PV-10PDP (Re-work) 1 $0.0Re-work 2 0.5New Drill 4 1.3

Total 7 $1.7Performance-Based 12.8

Total $14.6


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PERTH FIELD

Estimated 12.6 MMBoe of reserves in place, representing recovery efficiency of only 15%

ROIL estimates recovery efficiencies of up to 40%

Acquired properties to redrill and produce the remaining recoverable reserves of 2 to 3 MMBoe


2 re-work operations (2 PDP)

1 new drill location



2 horizontal Mississippian locations




Gross Acreage 480Average WI / NRI 85% / 66.3%

Locations PV-10PDP (Re-work) 2 $0.8Re-work – 1.3New Drill 6 5.3Probable (Mississippian) 2 1.3

Total 10 $8.7Source: Pinnacle Energy Services, LLC Reserves and Engineering Evaluation dated January 18, 2013

Utah and Wyoming Asset Overview

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Liberty #1 Discovery Well – Drilled in 2010

Logs and testing demonstrated over 1,200 gross feet of interconnected fractures in Jurassic Twin Creek Limestone and 427 feet of oil saturated deeper Navajo Sandstone

Freedom Trend Prospect

Gravity maps show prominent structural anomalies

2D seismic shows three, overlapping structural closures in the Twin Creek-Navajo

Independence Project – Drilling operations are anticipated to begin Q3 2013, in the organically rich, Tununk member of the Lower Mancos Shale

Hogback Ridge (UT- WY Overthrust) – New acreage has been acquired, offsetting a past producing well. Geological research and lease acquisition is ongoing

UTAH AND WYOMING ASSET OVERVIEW

Nephi

Freedom Trend

Prospect

Richfield Leases

Discovery

Industry Targets

Industry Well Permit

Liberty Field(Gas/Oil

Condensate Discovery)

Independence Play

(Oil Discovery)

Covenant Field (oil)

Providence Field (oil)

Wolverine Painted Rock

(Flowed Gas & Condensate)

Gross Existing Drilling WorkingField Acreage Wells Locations Interest

Liberty Prospect (UT) 1,025 – 9 74.7%

Liberty #1 Well (UT) 160 1 – 64.3%

Freedom Trend Prospect (UT) 9,509 – 118 89.5%

Independence (UT) 20,000 1 31 5.0%

Hogback Ridge (WY) 1,511 – 9 100.0%

Graham Reservoir Field (WY) 640 1 1 100.0%

Spring Valley (WY) 160 – 1 100.0%

Total 33,005 3 169

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INDEPENDENCE PROJECT COMPARISONS

A good shale play is defined by having total organic carbon (“TOC’s) greater than 2%, high thermal maturity and a brittle nature that can be fractured. Natural Fractures eliminate the need for Hydraulic Fracturing, saving money reducing possible environmental/political issues.

The Tununk member of the Mancos shale is thick, has high TOC’s, interbedded sandstones, natural fractures, and a high pressure gradient, which should yield a higher than average recovery factor.

Tununk Core Fragment from Irons #1, Sanpete Co. UT, Showing Sand stringers interbedded within the shale

Eagle Ford ShaleTexas

200 feet Thick11,500 feet deep4.5% Total Organic Carbon.650 Pressure GradientRequires Hydraulic

FracturingOil & Gas Prone

Tuscaloosa Marine ShaleLouisiana, Mississippi

200 feet thick10,000 – 15,000 feet deep1% - 4% Total Organic Carbon.7 Pressure Gradient

Bakken ShaleNorth Dakota, Montana,

Canada

150 feet thick10,500 feet deep11% Total Organic Carbon.500 Pressure Gradient85 feet of interbedded siltstone

and sandstoneRequires Hydraulic FracturingOil Prone

Independence ProjectMancos Shale (Tununk) Utah

600-3,000’ feet thick11,550 Feet Deep7% Total Organic Carbon.660 Pressure Gradient180 feet of interbedded

siltstone and sandstoneExtensive Natural FracturesOil & Gas Prone

Utica ShaleOhio, Pennsylvania, West

Virginia

140 feet thick7,500 – 9,500 feet deep7% Total Organic Carbon.46 Pressure Gradient

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DISCLAIMER

FORWARD LOOKING STATEMENTS AND OTHER MATTERS

THE FINANCIAL AND OPERATING PROJECTIONS CONTAINED HEREIN REPRESENT CERTAIN ESTIMATES OF RICHFIELD OIL AND GAS COMPANY (“RICHFIELD” OR THE “COMPANY”) AS OF THE DATE HEREOF. RICHFIELD’S INDEPENDENT PUBLIC ACCOUNTANTS HAVE NOT EXAMINED, REVIEWED OR COMPILED THE PROJECTIONS AND, ACCORDINGLY, DO NOT EXPRESS AN OPINION OR OTHER FORM OF ASSURANCE WITH RESPECT THERETO. FURTHERMORE, NEITHER RICHFIELD NOR ITS MANAGEMENT CAN GIVE ANY ASSURANCE THAT THE PROJECTIONS CONTAINED HEREIN ACCURATELY REPRESENT RICHFIELD’S RESULTS OF OPERATIONS OR FINANCIAL CONDITION. SOME OF THESE ASSUMPTIONS INEVITABLY WILL NOT MATERIALIZE AND UNANTICIPATED EVENTS MAY OCCUR THAT COULD AFFECT RICHFIELD’S RESULTS. THEREFORE, RICHFIELD’S ACTUAL RESULTS ACHIEVED DURING THE PERIODS COVERED BY THE PROJECTIONS WILL VARY AND MAY VARY MATERIALLY FROM THE PROJECTED RESULTS. THESE VARIATIONS COULD MATERIALLY AFFECT RICHFIELD’S ABILITY TO MAKE PAYMENTS WITH RESPECT TO ANY OF ITS OUTSTANDING AND/OR FUTURE DEBT SERVICE OBLIGATIONS.

UNLESS OTHERWISE NOTED, THE FORECASTED INDUSTRY AND MARKET DATA CONTAINED IN THE ASSUMPTIONS FOR THE PROJECTIONS ARE BASED UPON MANAGEMENT ESTIMATES AND INDUSTRY AND MARKET PUBLICATIONS AND SURVEYS. THE INFORMATION FROM INDUSTRY AND MARKET PUBLICATIONS HAS BEEN OBTAINED FROM SOURCES BELIEVED TO BE RELIABLE, BUT THERE CAN BE NO ASSURANCE AS TO THE ACCURACY OR COMPLETENESS OF THE INCLUDED INFORMATION. RICHFIELD HAS NOT INDEPENDENTLY VERIFIED ANY OF THE DATA FROM THIRD-PARTY SOURCES, NOR HAS RICHFIELD ASCERTAINED THE UNDERLYING ECONOMIC ASSUMPTIONS RELIED UPON THEREIN.

THESE MATERIALS ARE BEING SUPPLIED TO YOU SOLELY FOR YOUR INFORMATION AND FOR USE AT THE PRESENTATION. THIS PRESENTATION AND THESE MATERIALS MAY NOT BE REPRODUCED, REDISTRIBUTED OR PASSED ON, DIRECTLY OR INDIRECTLY, TO ANY OTHER PERSON OR PUBLISHED, IN WHOLE OR IN PART, BY ANY MEDIUM OR FOR ANY PURPOSE.

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