Unconventional Natural Gas A Compelling Case. A Focused Vision. June 2007

1. Unconventional Natural GasA Compelling Case. A Focused Vision.June 2007 Trading Symbol: SPI – TSX Venture ExchangeWebsite: www.csri.ca

2. DISCLOSURE STATEMENT The corporate information contained in this presentation contains forward-looking forecast information. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonably accurate by Canadian Spirit Resources Inc. (“CSRi”) at the time of preparation, may prove to be incorrect. The actual results achieved during the forecast period will vary from the information provided herein and the variations may be material. Consequently, there is no representation by CSRi that actual results achieved during the forecast period will be the same in whole or in part as those forecast.

3. Farrell Creek Area

4. CORPORATE INFORMATION • Listed – SPI (TSX Venture Exchange) • Working capital surplus - $1.5mm (March 31). No debt. • 28,833,082 shares outstanding • 2,471,000 options outstanding – average strike price = $2.40 • 3,200,00 warrants outstanding – strike price = $2.50 (expiring August 11, 2007) • Management and directors own 2.4% (Basic) • Directors: George W. Watson (Chairman) J.R. Richard Couillard Donald R. Gardner Phillip D.C. Geiger Philip H. Grubbe Robert P. Winnitoy

5. OVERVIEW • Acquired 40,000 acres of Shallow Rights • 75% of land also has deep rights • Eight test holes drilled to date • Four test holes have been fracture stimulated • Independent estimate of 1.8 tcf of discovered resource for the shallow Gething, Gates and Moosebar Formations • Deeper formations are also prospective

6. CURRENT STATUS • Have recently established mechanical reliability on pumping units • Implemented field changes to reduce costs • Flowing wells while reducing reservoir pressure and determine a production response on three of four test holes • Trailer mounted compressor to be utilized to complete this test

7. CURRENT STATUS c-083 – Shut-in – deliverability test complete b-092 – Flowing – currently the best producing well to date b-003 – Flowing from upper zone – bridge plug wedged between zones b-002 – Flowing with only 22 meters perforated - lowest capital cost well to date d-093 – Drilled and cased - preparing to stimulate

8. RESULTS

9. VALUATION $Million $/share $/mcf Recovery Factor ( % ) Assumes 1.4 tcf of Gas-in-Place (Sproule) and 45 million fully diluted shares

10. PRELIMINARY ECONOMIC DATA • Capital • Target: Less than $1 million to drill, case and fracture stimulate • Production • Target: 200-300 mcf/d from vertical wells • B.C. Crown Royalty (new Net Profits Interest) • Designed for unconventional gas • 2% royalty on gross revenue until capital pool payout • Capital pool includes previous 3 years of historical cost • Propose taking applications this September

11. PROPOSED BASE PROGRAM Deliverability Testing • Timing (March 30 to June 30, 2007) • Continue to flare three test holes to establish consistent run time (upward production trend) • Currently b-092 is the best well (100 to 150 mcf/d) • Install trailer mounted compressor • Shut in c-083 and continue to monitor b-002 and b-003 • Move trailer mounted compressor equipment from b-092 to b-002 • Issues: • Flaring limitations (on b-092 test hole) • Applied for extension • Goal: • Reduce back pressure to increase gas rate • Target +/- 200 mcf/d on the b-092 test hole with the use of the trailer mounted compressor

12. PROPOSED BASE PROGRAM Tie-in Evaluation • Timing (June 2007) • Determine in parallel • Tie-in options • Industry Partner – Short term solution • Will take raw gas for compressor fuel • Initiate discussions • Spectra Energy (formerly Duke Energy) – Long term solution • Must meet sales gas specification • Equipment availability • Costs to tie-in

13. PROPOSED BASE PROGRAM Apply best completion techniques • Timing (July to August 2007) • Fracture stimulate d-093 • Flow back and drawdown pressure with trailer mounted compressor • Continue to monitor b-092 and b-002 • Move trailer mounted compressor as required • Issues: • How much will the rate increase • Government approval – flaring • Goal: • Target 400 mcf/d by the end of August 2007 on two test holes (b-092 and d-093)

14. PROPOSED BASE PROGRAM Prepare for tie-in and add production • Timing (August to October 2007) • Finalize pipeline access • Start construction • Convert test holes to production wells • Drill three vertical wells • Spacing • Consider drilling one directional well • Continue to evaluate results to finalize a Phase I development program

15. PROPOSED BASE PROGRAM Tie-in for cash flow • Timing (October to mid December 2007) • Tie-in the following producing wells • b-092 • d-093 • Possibility to tie-in up to five additional wells Goal: • Target total production of 1 million cubic feet per day and increasing

16. ADDITIONAL POTENTIAL Shallow Rights – (Surface to base of Cadomin) • Substantial availability of B.C. Crown lands • Land swap/Farm-in potential • GeoMet “Strategic Process” • Infrastructure co-operation • Formations • Moosebar and Bluesky

17. ADDITIONAL POTENTIAL Deep Rights – (Below base of Cadomin to basement) • Land swap/Farm-out potential • Activity in Farrell Creek Area • NorthPoint Energy Ltd. • Talisman Energy Inc. • Triumph Pacific Oil & Gas Corp. • Others • Formations • Nordegg/Fernie, Halfway, Doig/Montney, Debolt

18. 2007 FUNDING PLAN • Confirm productivity and economics • $3 million private placement • June 2007 • Capital program June – August 2007 • Production and reserves • $15 – $30 million • September 2007 • Capital program September 2007 – September 2008

19. CONCLUSIONS Farrell Creek Project • Large discovered resource – 1.8 tcf on existing lands • Expect production in early 2008 • Large number of potential locations • Prospective deep rights/multi-zone potential • Year round road and pipeline accessibility • Long Reserve Life Index (low decline)

20. FARRELL CREEK LOCATION

21. T85 T84 T83 T82 T81 93-O-16 R26 R25 R24 R23 FARRELL CREEK LANDS

22. FARRELL CREEK PILOT PROJECT

23. Canadian Spirit Resources Inc. Suite 1950, Ford Tower 633 6th Avenue S.W. Calgary, Alberta T2P 2Y5 Telephone (403) 539-5005 E-mail: info@csri.ca TSX Venture: SPI w w w . c s r i . c a