Corporate Overview United Hunter Oil and Gas

May 2010 Huasna Presentation

VESTA CAPITAL CORP. COPYRIGHT 2010 1

Vesta Capital Corporation

TSX-V VES

(United Hunter Oil and Gas)

DISCLAIMER

The particulars relating to the Huasna field contained herein were obtained from sources which we believe are reliable but are

not guaranteed by us and may be incomplete. The opinions expressed are based upon our analysis and interpretation, and are

not to be construed as solicitation or an offer to buy or sell the securities mentioned herein.

This presentation contains confidential information and by viewing this presentation the viewer agrees that all the information

contained herein will be used by the reader solely to determine his/her/its interest in Vesta Capital Corp. (“Vesta”, “or the

company”) and that such information shall be retained exclusively for the benefit of Vesta. The viewer agrees that he/she/it

will not, without the express consent of Vesta, make use of, disseminate or in any other way disclose any of the confidential

information to any person, firm or business, except to the extend necessary for negotiations, discussions, and consultations

with personnel or authorized representatives of the reader for the purpose of determining such interests in Vesta.

No securities commission or other similar regulatory organization has reviewed or passed on the merits of this presentation

and any representation of the contrary is an offense. This presentation is not, and under no circumstances is to be interpreted

as a prospectus, public information, solicitation or advertisement for the sale or trade of securities. The information contained

herein in current as of September 22, 2009.

2VESTA CAPITAL CORP. COPYRIGHT 2010

Mission Statement

The goals of Vesta Capital Corp.

1) > 0.5 Billion bbls OOIP at Huasna

2) > 1200 bopd production capabilities at Huasna

3) Additional modest growth properties in Canada and

California

4) Pursue John Master’s larger play concepts in the

USA.

3 VESTA CAPITAL CORP. COPYRIGHT 2010

CORPORATE HIGHLIGHTS

Past producing asset in California in the Huasna proven oil field (65% workinginterest) with low risk, development opportunity with a short time to production (byQ4 2010)

Huasna has significant upside potential beyond the resource defined in the currentconservative 51-101 report

Additional low risk, by-pass pay opportunities in Canada and California to be pursuedconcurrently

Experienced management team with 30 years of financial and operationalexperience in companies like Canaccord Capital, Griffiths McBurney, CanadianHunter, Rally Energy and Canacol.


Mr. Bradley Griffiths- Chairman of the Board and Director Mr. Griffiths received his C.A. in 1982 and was the head of the Mergers and Acquisitions group of Canadian Imperial Bank of

Commerce in 1984 and Vice-President in 1989. Mr. Griffiths was a director and Vice-President of Gordon Capital Corp. and

then in 1995 founded and served as Chairman and CEO of the brokerage firm Griffiths, McBurney which rose to become the

sixth largest trader on the Toronto Stock Exchange. Griffiths, McBurney completed a $650,000,000 (CDN) offshore, "bought

deal" financing as lead underwriter for Sherritt International. While Mr. Griffiths contracted for two years as Co-Chairman and

Head of Capital Markets of Canaccord Capital the staff was increase five-fold and a record number of transactions were

completed resulting in substantial increase in revenues. Mr. Griffiths and 7 of the 8 members of the Canaccord Toronto

corporate finance team purchased a major interest in Standard Securities. Mr Griffiths joined the firm of McFarlane Gordon in

2003 as Managing Director of Capital Markets. In 1999 Mr. Griffiths was recognized as one of the top 20 most influential

financiers in Canada and for completing more transactions than any member of the Independent Dealer community. In the

last 22 years Mr. Griffiths has completed $20 billion (CDN) in financings and played advisory and financing roles for clients

both nationally and internationally. Mr. Griffiths was awarded the Yves Landry Foundation award as Person of the Year in 2002.

Dr. Arthur Halleran- Chief Executive Officer and Director Dr. Halleran obtained a Ph.D. Geology & Geophysics from the University of Calgary and has 29 years of domestic and

international experience in petroleum exploration and development with extensive exposure to complex carbonate and clastic environments and new basin analysis. In addition, Dr. Halleran has extensive experience in EOR projects. Dr. Halleran was a consulting geologist for Rally Energy Corp. and initiated the companies drilling program which discovered the prolific producingfractured reservoir trend and provided scientific data for EOR steam recovery. Dr. Halleran was part owner and Vice PresidentExploration for Canacol Energy Ltd., a company with interests in Colombia , Guyana and Brazil During Dr. Halleran’s tenure asVP, Canacol Energy acquired producing assets in Colombia and Brazil and participated in the largest oil discovery in Colombiaover the last 10 years.


Management & Board

Mr. Smith – Chief Financial Officer Mr. Smith has 34 years of financial management, accounting and business experience. During his varied career, Mr. Smith has

acted as Controller, Treasurer, Senior Vice President and Information Technology advisor for both Canadian and international companies. Over the past ten years Mr. Smith has worked as senior financial analyst for RBC Capital Markets and Bell Mobility, controller of Xstrata Copper and MS Access risk analyst for Enbridge Consumers Gas. Mr. Smith has been financial controller of more then 10 public companies. Mr. Smith is a business administration and computer science graduate of Ryerson Polytechnic Institute and received his Certified Management Accountant (CMA) designation in 1989.

Mr. Peter A. Rudakas – Vice President of Exploration and Development Mr. Rudakas earned his degree in 1979 M.A. Geography, University of Windsor and Specialized in erosional processes on

various rock types, he also earned his B.Sc. Geology, at the University of Windsor. Progressive experience in hydrocarbon play development and management / supervisory functions in exploration. President of a public and private junior oil and gas company. Vice President Exploration, Exploration Manager, Supervisor, Coordinator of mainland Canada operations. Prior to joining United Hunter Mr. Rudakas has been consultant and Geologist with Devon/Northstar, Mogul Energy International, PennWest, Newalta and Titan Exploration as well as the President and Director of Impel Corporation.

Mr. Daniel Bloch - Director Mr. Bloch is a partner at Aird & Berlis LLP in Toronto, and a member of the firm’s Corporate Finance Group and the Natural

Resource Team. Mr. Bloch’s practice focuses on all areas of corporate finance, mergers and acquisitions and security law. Mr.Block regularly represents and provides general corporate and securities law advice to publicly and privately held corporations in a wide variety of industries. He has developed a particular expertise in advising issuers and underwriters in connection with

public and private financings.


Management & Board

7

HUASNA FIELD LOCATION IN CALIFORNIA, UNITED STATES

Huasna Field is located in southern California near the town of San Luis

Obispo, north of similar giant oil fields.

VESTA CAPITAL CORP. COPYRIGHT 2010

HUASNA, CALIFORNIA

8

Huasna Field California: Potential OOIP

Total OOIP (MMbbls)

Mill

ion B

arr

els

Recovery Potential (MMbbls)

Mill

ion B

arr

els

310

510

1500

0

200

400

600

800

1000

1200

1400

1600

270 acres 450 acres 1350 acres

4.2 7147

12

2321

35

70

0

20

40

60

80

100

120

270 acres 450 acres 1350 acres

27% RF 30% RF 45% RFRF: Recovery Factor


Total

Porosity

volume

HUASNA FIELD: CLOSURE SIZE POTENTIAL

9

Tm Structure - Zoom

450 ac closure

SD#1 well with >2000’Monterey Oil pay

outside of pool closure

3000 ac closure

20 ac Pilot Project

Location of 20 ac Pilot Project

•Low geological risk

•2,500’ frac oil pay

•6,200,000 bbls OOIP (frac. Por. only)

•Well IP expected >200 bopd

Source: data for 51-101


20 Acre Pattern size

10 acre well spacing

74,400,000 bbls OOIP

– Matrix and fracture

porosity

Fracture Porosity and Matrix Porosity

Fracture Porosity only

Current N1-51-101 gives 2% porosity over 270 ac for

1300’ pay = OOIP 31,134,000 bbls with 14,000,000 bbls

recoverable (45% RF)

Matrix and Fracture Porosity gives 24% porosity over

270 ac for 1300’ pay = OOIP 373,062,860 bbls with

26,114,000 bbl recoverable (7% RF): 37,306,000 bbl

recoverable (10% RF).

HOW TO BUILD UP >0.5 BILLION BBLS OOIP at Huasna

Same rock just different knowledge of

the Monterey Shale type oil pools

Remember current NI 51-101 states closure is 450

acres so for 1300’ pay of matrix and fracture

porosity = OOIP 622,000,000 bbls.

Structure is larger then 450 ac.


11

Huasna Field: Net Production Forecast

Upside potential based on additional wells drilled

Production growth can be financed from current financing and through

organic cash flow

Excludes any development and acquisition opportunities that are being

pursued

400

910

2,900

1,560

-

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

5,000

2011 2012 201?

bo

pd

Current EIR Limit


HUASNA HISTORY: PROVEN PRODUCTION

Cold production: The discovery well drilled in 1939 to test a surface anticline cold produced 9-13° API oil from fractured Monterey Shale

EOR steam and hot water: 2 wells drilled in 1960’s produced 22,741 bbls oil after a single non-continuous steam and

hot water injection

A single well had production rates of 43 bopd for one year and a month high of 163 bopd

An independent report* (NI 51-101 report) suggests: a best estimate recovery of 7,002 MSTB (net 4,551 MSTB)

a high estimate of 14,004 MSTB (net 9,102 MSTB) and

a low estimate of 4,201 MSTB (net 2,730 MSTB)

* For a 270 acre project, for fracture porosity only (the closure could be from 450 to >1350 acres)


HUASNA FIELD: FUTURE STRATEGY

Exploit with hot water injection;

three well Pilot Project will initiate the Huasna project

followed by up to 9 additional wells to ramp up productions

Drill the first well to obtain data on fluid properties, fracture distribution, orientation andfracture aperture size

These data will be put into a computer simulation model to spot and drill thenext two wells

For 6 to 12 months the pilot project is expected to produce data to facilitate the full scaledevelopment of the Huasna Field starting with the next 9 wells

Evaluate the results


HUASNA FIELD: FIRST THREE WELLS

14

1st well

Producer

Producer

Future

Producer

600

feet

933 feet



6,200,000 bbls OOIP –

fracture porosity only

Reserve Calculations

20 acres, 2500feet pay,

2% Porosity, 20% SW

Potential Pilot Project Size and Location

A

A

’

Cross Section




74,400,000 bbls OOIP

– Matrix and fracture

porosity

HUASNA FIELD: CROSS SECTION

15

LH#2

TD 5591

TD 7733

TD 2986

TD 1340

2000

UD#1LH#1

SD#1

+407

-893

-

1893-

2052

-

3123

+650

+98

-

1324

No

shows

-321 fw-368

-

1789

+781

-120

-4370 start of

samples-4615 oil sst ?

-5316

No shows in

fractures or other

sandstones

-6585 oil

sstBase – Vaqueros

Fm

15,072 bbls oil over 12

months; average 41 bopd

with one month 163 bopd

7,669 bbls oil over 20

months, but only produced

12 monhts

Perf 900 to 2200; 4 day test 80-

100 bopd/170-200 bwpd

Perf 2200 to 3200; 9 day pump 40

bopd/260 bwpd fresh.

Uknown potential

?

?

?

?

??

?

?

Tentative O/W

contact

Syncline

Anticline

Elevation in

feet

1000’

A

A’

No samples

?

?

Known Oil

zone

Structural Section A-A’’

Fractures

continue

Unknown

Potential


HUASNA FIELD: PILOT PROJECT

Drilling Permits issued – Nov, 2010

First well drilled – Jan, 2011 Production Net Cumulative

On production – Jan 2011 200 bopd 130 bopd

2nd and 3rd well drilled – April 2011

On production – May 2011 400 bopd 390 bopd

Additional wells drilled (9 wells) from Nov 2011

An additional 1600 to 1800 bopd gross ~1600 bopd


PERMIT STATUS

EIR finished and submitted – July 22, 2009

Project Application and Supplement, Engineering Report, Botanical –

Biological Report, Geological Hazards Report, Acoustical Report, Air

Emissions Report, Cultural Resources Report, Hydrology Report, Traffic

Report, Title Reports and Easement

Permits to drill from DOGGR expected Nov., 2010


HUASNA FIELD: ESTIMATED COMPANY NET VALUE

18

Net Value based on Discounted Free Cash Flows*

Annual Discount Rate Company Net Value

%(Figures in $US millions)

o 295.2

5 183.9

10 122.6

15 86.5

20 63.9

•Above figures have been adjusted to represent the stake of 65% (Unadjusted for risk)•Based on Arithmetic Average of low, best and high estimate•Figures based on NI 51-101 Report and consists only of 270 acres closure and only the fracture porosity is addressed


HUASNA FIELD PROJECT:

CASH FLOW SCENARIO ANALYSIS

19

PV of Free Cash Flows (Sensitivity Analysis):

Figures in Million USD*

Discount Rate Best Estimate Low Estimate High Estimate

0% 246.7 114.9 542.1

5% 157.4 139.0 344.8

10% 108.5 96.8 237.7

15% 79.5 71.4 172.8

20% 61.1 55.1 132.5

25% 48.7 44.1 105.7

30% 40.0 36.3 86.8

* Above calculations are based on 65% projected stake in the company’s name, before taxVariable expenses for cash flow purposes have been increased on pro rata basisThese data are only for the 270 acre closure and only the fracture porosity was addressed


20

Additional Opportunities-Bypass Pay Zones

In Canada pursue with new technology abandoned or suspended oil fields that have

had a history of low recover.

In California 6 bypass pay zones high graded from hundreds of leads, both light and

heavy oil;

mainly shallow reservoirs with potential confirmed by other data

average size pool will be 1 to 3 million bbls BOE

average well production will be about 50 bopd and 100,000 bbls recoverable oil.

John Master’s larger prospects in the USA – in the evaluation process


21

Transaction Structure


Basic Shares Exchange Ratio Final Shares Warrants FD Shares Percentage

Vesta 6,303,000 1.000 6,303,000 580,000 6,883,000 5.5%

UHC 22,500,000 1.7754 39,946,721 39,946,721 32.1%

4% Interest Acquisition 2,253,001 1.7754 4,000,000 4,000,000 3.2%

Financing Consulting fee 5,746,999 1.7754 10,203,276 10,203,279 8.2%

Total Post-Financing 36,803,000 60,453,000 580,000 61,033,000 49.0%

Financing 45,000,000 1.3300 59,850,000 3,600,000 63,450,000 51.0%

Total Post Financing 81,803,000 120,303,000 4,180,000 124,483,000 100.0%

Vesta Capital Corp. (Capital Pool Company – (VES – TSX.V)) Qualifying Transaction is completed and Vesta will be renamed United Hunter Oil and Gas Ltd. at the AGM and is a business combination with United Hydrocarbon Corporation and the share purchase from 2 other companies of an aggregate 65% interest in Excelaron LLC (Huasna Oil Field). $9,000,000 Canadian were raised.

22

Use of Proceeds First Production

CDN$9,000,000

(Net $8,280,000)

Huasna: drill 3 wells, temp. facilities, 6 month op $2,000,000

Acquire and drill 2 by passed California or Canadian prospects $1,000,000

G&G development of John’s prospects $500,000

Huasna: drill 4 additional wells, perm. facilities $3,000,000

Acquire and drill 2 more by passed California or Canadian prospects $1,000,000

Acquire land JM prospects and/or other ops $780,000

TOTAL EXPENDITURES $8,280,000

• maximum $9MM raised objective is net 800 bopd Huasna & 150 bopd light oil other prospects

and be positioned in an additional larger play (all points above)


Investment Summary

Past producing oil field asset in California (65% working interest in theHuasna Field) located north of producing giant oil fields.

Low risk, development opportunity at Huasna with a short time toproduction (by Q4 2010)

Huasna has significant upside potential beyond the resource defined in thecurrent conservative 51-101 report

Inventory of larger concept prospects generated by John Masters

Additional low risk, by-pass pay opportunities in California and Canada to bepursued concurrently

23 VESTA CAPITAL CORP. COPYRIGHT 2010

Experienced management team with 30 years of experience

CONTACT INFORMATION

Vesta Capital Corporation

Head Office Address:

Suite 310

700 – 4th Avenue SW

Calgary, Alberta

Canada T2P 3J4

Contacts

Dr. Arthur Halleran CEO – 403-667-4941

[email protected]

Brisco Capital Partners Corp.

Scott Koyich President – 403-262-9888

[email protected]

Graeme Dick – 403-561-8989

[email protected]


mailto:[email protected]

Corporate Overview United Hunter Oil and Gas

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