Corporate Presentation November 2010

Forward Looking Statements

This presentation contains forward looking statements and factual information that are current as of the date the presentation was originally delivered. UNX Energy Corp. disclaims any intention or obligation to update or revise any forward looking statements, whether as a result of new information, future

events or otherwise. Forward looking statements include, but are not limited to, statements with respect
to the timing and amount of estimated future exploration, success of exploration activities, expenditures, permitting, and requirements for additional capital and access to data. Forward looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward looking statements. Such factors include, among others, risks related to actual results of current exploration activities; changes in project parameters as plans continue to be refined; the ability to enter into joint ventures or to acquire or dispose of properties; future prices of oil and gas; accidents, labor disputes and other risks of the oil

and gas industry; ability to obtain financing; and delays in obtaining governmental approvals of
financing.

Namibia The Next Oil Frontier

UNX is exploring the South Atlantic Margin Basins offshore Namibia UNX has interests in over 51,000 gross km2 of highly prospective exploration rights

Brazil and Namibia are on opposite margins of the South Atlantic

Common geological history and similar petroleum system
Four recent giant discoveries reported in deeper horizons within the Santos Basin, Brazil Tupi (oil and natural gas) Carioca (oil and natural gas) Jupiter (natural gas and condensate) Abare Oeste (oil and natural gas)

Combined, the above discoveries represent the worlds largest find since the 1970s
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Country Details Namibia

Stable democracy: gained independence from South Africa in 1990 Area slightly smaller than the province of British Columbia, Canada and 1.5 times the area of France Population: 2.1 million people, median age 21, 37% urban Capital city is Windhoek

BBB Country Risk Profile (Source: The Economist, 2010)

Main Industries: tourism, mining, fishing and ranching Inflation rate, roughly 8% (2009 est.) GDP US$13.6 billion (2008) Existing multinationals in country: Petrobras, Anglo-American, Areva, DeBeers, RioTinto, Paladin, Tullow, Gazprom, BHP Billiton, and PetroSA Offshore petroleum fiscal regime: 35% federal tax and flat 5% royalty

Offshore Leases Namibia and South Africa

Angola
Namibia Offshore Land Holdings UNX Energy Interests AlphaPetro Enigma/Chariot Arcadia/Tower Namcor

Namibia

Botswana

Pancontinental Oil & Gas NL

Labrea/HRT
Maurel n Prom - Recon Enigma/Chariot/Petrobras Kudu Production Licence Gazprom/Tullow

NW South Africa Offshore Land Holdings PetroSA

South Africa

Shell Forest BHP

90% WI Blocks: 2713A&B, 2815, 2816 & 2915

Total area - 26,988 km2 (6,666,036 acres) UNX Operated - 90% working interest Large features mapped on Blocks 2713A NI 51-101 Prospective Resource - Block 2713A 2.39 Billion BOE unrisked, 567 Million BOE risked Robust risked economics, supported by

sizeable resources, high probabilities of success

Adjacent to blocks currently being explored by majors
100 km

2D seismic data purchased, 3D seismic survey planned, looking to secure farm-out partners
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40% WI Blocks: 2813A, 2814B & 2914A

Total area - 15,382 km2 (3,799,354 acres) UNX - 40% working interest partners are:
HRT Oil & Gas (operator) 40% Acarus Investments (Proprietary) Ltd. 20% carried interest

Blocks are key to UNXs regional land position and strategic partnerships
2813A 2814B

Partnership with HRT O&G provides:

Access to the worlds leading geoscientists on the South Atlantic Margin Accelerated data gathering, interpretation and mapping Reduced net risk capital exposure Proven techniques to optimize the quality of the data Comprehensive technical interpretation Adds data room flow from southern hemispheres majors
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2914A

2.7% Carried Interest Blocks: 1711A&B

Total gross area 8,903 km2 (2,199,041 acres) UNX - 2.7% non-operated carried interest Kunene #1 well drilled and cased to 5,050 metres PetroAlliance (Subsidiary of Schlumberger) has identified a potential gas zone of interest in the Kunene well. Licence extended on April 5, 2010 for an additional 2 years

100 km

Maximizing the Probability of Success

The Probability of Success (POS) on a well is a function of the following variables: Reservoir a proper porous rock with adequate permeability and porosity to allow for the accumulation and production of hydrocarbons the hydrocarbons are buoyant and have to be trapped within a structural (anticline, fault block) or stratigraphic trap a mature source and timing sequence of migration is also critical as the trap must predate the migration an impermeable sealing zone, often a shale sequence, which must also predate hydrocarbon migration and retain integrity over time

Trap Source Rock Seal Integrity

UNX also benefits from the depth of experience in the South Atlantic Margin from: HRT /IPEX significant and successful experience in the South Atlantic Margin using investigative techniques that have proven additive to the POS
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Reservoir

RESERVOIR Historical Exploration Results

Field & Lab 2010
Kudu 9A-1 Kudu 9A-2 Kudu 2 Kudu 9A-3 Kudu 3 Kudu - 4 2814/11-4 Kudu - 5 2814/11-5 Kudu - 6 2814/7-2 Kudu - 7 Kudu - 8 1911/15-1 1911/10-1 * * 2012/13-1 2213/16-1 2313/?5-1 Shark 1 2513/8-1 2815/15-1 (2814A) (2814A) (2814A) 2814A 2814A 2814A 2814A Kudu Production 1911 1911 2012 2213 2313 2513 2815 167m 168m 166m 176 m (MSL) 162.9m (MSL) 171m (MSL) 179 m (MSL) 179 m 489 m (MSL) 631m (MSL) 650m (MSL) 240m (MSL) ?? 243m 177m (MSL) Chevron Swakor Swakor Shell Shell Shell Shell Tullow Norsk Hydro Norsk Hydro Sasol Ranger Oil Shell Norsk Hydro Chevron 1973 1987 1988 1996 1998 2002 2002 2007 1994 1996 1995 1995 1998 1998 1996 Orange 4536 mbKB Orange 4505 mbKB Orange 4522 mbKB Orange 4719 mbKB Orange 4898 mbKB Orange 4725 Mahbdf Gas & Oil shows Gas & Oil shows Gas & Oil shows Gas & Oil shows Gas & Oil shows Gas & Oil shows Gas & Oil shows Gas & Oil shows Oil shows in core 4 Oil shows Oil shows Oil shows Oil shows good sandstone poor sandstone good sandstone good sandstone good sandstone good sandstone good sandstone good sandstone good carbonate good sandstone good sandstone good sandstone good sandstone good sandstone tight sandstone good good good good good good good good fair fair good poor poor poor fair good stratigraphic poor good good good stratigraphic poor stratigraphic poor stratigraphic poor poor poor poor poor poor poor stratigraphic poor

Orange 5275 mbKB Orange 4725m Walvis 4586 mbKB Walvis 4185 mbKB Walvis 3712 mbKB Walvis 2627 mbKB Luderitz 2588 mbKB Luderitz 2423 mbKB

Oil shows in core 1 Gas & Oil Orange 4751 mbKB shows

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The Gas-Condensate Petroleum System from Kudu Field

Kudu

Turonian

Existing wells all drilled on shelf, where there is no trap

New wells need to target syn-rift where proven source exists below Barremian shale seal.

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Source Rock

SOURCE ROCK Correlation: Brazil to Africa

Mello (2000)

All wells drilled offshore Namibia had oil shows, (confirmed by biomarker and diamondoid studies) This analysis confirms identical age and rock type to Brazil
Marine Deltaic Tertiary Marine Anoxic AlbianCenomanian Lacustrine Saline Oil Type Lacustrine Brackish/Saline Oil Type

Paleozoic

AFRICA

BRAZIL
Esprito Santo
Proterozoic/Paleozoic Proterozoic/Paleozoic

Paleozoic

Sedimentary Basins

Namibia
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SOURCE ROCK Oil Seeps, Satellite Surveys in the Orange Basin

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What is Our Probability of Success?

Reservoir sediment deposition moves from onshore to offshore (east to west), and sediment quality volume is high suggesting reservoir characteristics in deeper water should be very good. Confirmed in well data and inferred in seismic clear from seismic and petroleum model that trap preceded petroleum migration. Trap also evident on seismic source rocks in the South Atlantic margin are prolific. Two source rocks confirmed in Namibia. Oil slicks, oil samples extracted from the nearby Kudu gas field, and oil stains in all offshore wells confirm presence of mature and active petroleum system shale sequence is very thick in the deeper water (in excess of 200 metres) and does not appear breached

Trap

Source Rock

Seal Integrity

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Block 2713A Prospective Resource Summary

Source: DeGolyer & MacNaughton (NI 51-101 Compliant)

Description

P90 (Low Est.) P50 (Best Est.) P10 (High Est.)

Mean Est.

Unrisked Recoverable Oil (bbl - 1000s) Unrisked Recoverable Solution Gas (BCF)

1,444,765 370.0

2,104,579 911.3

3,065,903 2,244.5

2,197,245 1,167.0

Risked Recoverable Oil (bbl - 1000s) Risked Recoverable Solution Gas (BCF)

342,577 88.4

499,029 217.6

726,974 536.0

521,002 278.7

Gross Unrisked BOE (BOE - 1000s, Gas to BOE at 6:1) Gross Risked BOE (BOE - 1000s, Gas to BOE at 6:1)

1,506,435 357,305

2,256,456 535,301

3,439,986 816,314

2,391,742 567,452

Note: the numbers in the table are the statistical aggregate calculations presented in the report. The full report should be reviewed and is available at www.sedar.com

D&M Estimate: 23.7% POS

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Of the Four Basins in Offshore Namibia, the Orange Basin is of Great Interest and Potential
Namibias only discovery to-date (Kudu), confirms many of the geologic conditions required for success Petrobras farm-in on Chariot, being immediately east of the UNX 2713A Block Other oil and gas companies are active in the Orange Basin (Shell, Tullow, Forest, Gazprom, Petrobras, BHP Billiton, and PetroSA). Kudu commercialization initiatives bring options to UNX (and potential promoting partners) if gas is discovered
On the shallow water margin, makes a gas discovery much more economic

Proximity to Orange River is mitigating to POS risk, especially in categories of seal and reservoir Reasonable well control and technical data as the majority of wells drilled offshore Namibia are located in the Orange Basin offsetting UNX land holdings

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UNX Strategy
Near-Term: Set-up data room for 2713A, 3D seismic acquisition Actively pursue farm out partners for both seismic acquisition and the drilling of a well Implement further work programs, detailing the mapped features and adding to prospect inventory Acquire 3D seismic during the first half of 2011 Mid-Term: Balance the Companys risk profile Look for undercapitalized development/exploitation assets Continue to look for additional opportunities to add to prospect portfolio Long-Term: Develop a company that delivers high level of economic growth through prudent capital allocation resulting in superior economic returns

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Catalysts
HRT IPO Globally respected company raised ~$US 1.5 billion on basis of growth potential in Brazil and Namibia Preliminary data room process for 2713A Comprehensive data room process targeted 2011 Petrobras presence at 2714A (immediately east of 2713A) Potential well in 2011 Independent resource reports on other blocks, including an update on 2713A Farmout of 2713A awarded after completion of comprehensive data room process 3D seismic programs to be acquired on 2713A and PEL 2815 in 2011 Finalization of commercialization plans for the Kudu gas project Additional massive oil discoveries in the South Atlantic Margin offshore Africa and South America
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Senior Management Team

Gabriel Ollivier, Director, President and CEO
Former Managing Partner and Institutional Salesman at Paradigm Capital Inc., and former Partner and Institutional Equity Salesman at Cormark Securities Inc. Over 10 years of senior management experience in the oil and gas industry with Canadian Hunter Exploration Ltd, Crestar Energy Inc. and Murphy Oil Company Ltd.

Maria Elliott, Vice-President, Finance, & CFO

Over 17 years of finance and financial reporting expertise specific to oil and gas Set up reporting systems, banking arrangements, internal controls, etc., in many international jurisdictions for activities specific to oil and gas exploration, development, and production Former Chief Internal Auditor, and Controller of Sherritt International, a major producing company in Cuba

Brad Holub, Chief Operating Officer

More than 15 years experience in the energy sector as a professional engineer Most recently held a senior management position with Sherritt International, managing all aspects of operations including production, facilities, drilling, supply chain, IT and field work Has developed and driven numerous key strategic initiatives as well as operational optimization and efficiency projects

Curtis Evert, Vice President Exploration and New Ventures

25 years of experience as a professional geologist in the energy sector Extensive experience in international oil and gas exploration and development, and an in-depth understanding of offshore drilling and field development Previous management roles with Marathon Canada, Sherritt International Corporation, and most recently managed several large offshore deepwater discoveries made by Husky Energy Corporation in the South China Sea

Mark Monaghan, Director & Executive Director, Business Development

Over 17 years of institutional equities and public company experience Experience in corporate finance, corporate development, merchant banking, executive management and board appointments Most recently was President of Quest Securities, with previous senior roles at TD Securities, Deacon Capital, CT Securities, and has also been a strategic advisor to several publicly listed companies 21

Non-Executive Directors
Duane Parnham, Chairman
Founder of Forsys Metals Corp Namibia-based resource company Extensive experience working in Namibia Strong relationships and expertise earned over a 24-year career in the areas of: government relations, capital markets and corporate management

Michael Black, Director

Partner at Fasken Martineau DuMoulin LLP Extensive legal experience in the energy sector, ranging from negotiation and drafting of international joint operating and joint venture agreements, negotiation and execution of resource-based transactions, and other legal and commercial matters specific to international jurisdictions In the past five years has led over 50 merger and acquisition deals

Mark Frewin, Director

Partner at McCarthy Tetrault Extensive legal and commercial expertise and a particularly strong background in dealing with international law Experience in Africa, with specific knowledge of the legal environment in Namibia

Knowledge Katti, Director & CEO of Kunene Energy (Pty) Ltd

Over 10 years of experience in national and international exploration and government activities Strong resource to the company in terms of deal flow and strategic partnerships

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Non-Executive Directors
Donald Sharpe, Director
Over 25 years experience as a professional geophysicist Started and developed his career at Suncor Energy prior to managing and serving as director of a number of successful start-up companies including Gemini Energy Inc. and Velvet Exploration Inc.

Keith Turnbull, CA, Director

Retired from KPMG as part of the accounting firms 12-member executive management team 38 year career in public practice including involvement in emerging international energy companies Wide range of experience including financial reporting, taxation planning, corporate governance, internal controls, auditing, public disclosure and other assignments specific to oil and gas companies

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Summary
Exploring for sizeable oil targets, appealing to majors looking for new projects Extensive land holdings 51,273 gross km2 (net 30,683) of exploration and carried interests Mirror image to offshore Brazil (worlds biggest crude oil discoveries in past 30 years) Angola (Namibias neighbour to the north) is Africas largest oil producer with offshore reserves estimated in excess of 16 billion barrels Probabilities of success - higher than normal Certifiable potential resource for Block 2713A Strategic partnership with HRT Oil & Gas Intentions for a 2011 data room Block 2713A Strong management team and Board of Directors

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Corporate Data
Symbol North America - TSXV: UNX Europe - Frankfurt:3U2A USA - OTC Pinksheets: UPWRF $3.97 (October 28, 2010) 111,105,032 118,280,032 $54 Million Calgary, Alberta Computershare Trust of Canada McCarthy Tetrault, Calgary, AB

Share Price Shares Issued & Outstanding Fully Diluted Cash on Hand Head Office Transfer Agent Legal Counsel

Auditor

KPMG, Calgary, AB

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Contacts
Heidi Christensen Brown, Investor Relations
Telephone: (403) 218 2833 Email: hchristensenbrown@equicomgroup.com

David Feick, Investor Relations

Telephone: (403) 218 2839 Email: dfeick@equicomgroup.com

Maria Elliott, Vice President, Finance and CFO

Telephone: (403) 984-6430 Email: maria.elliott@unxenergy.com

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