OX Marcellus 6 wells

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1 OX Marcellus 6 wells 6 horizontal wells in Marcellus Shale, Pennsylvania. Investment opportunity marts 2011

2 About the provider Pinja Oil & Gas. The company Pinja Oil & Gas Aps. was founded in 1999 in Herning in Denmark. Today it is placed in Hjallerup close to Aalborg. The owner has worked with finding investors to participate in oil & gas projects for more than 10 years. Pinja are investing along with the investors in most of the projects being offered, simply to get the same upside as the other investors gets by participating. Drilling and production in this project is happening in Marcellus area in Pennsylvania. The Operator has a great experience drilling in shale formations from Barnett Shale in Texas where the operator has drilled about 150 wells.

3 The project OX Marcellus 6 wells. Pinja are happy in collaboration with Ox Oil & Gas Inc. to offer participation in the Gas project OX Marcellus 6 wells, which is drilling of 6 horizontal wells in Marcellus Shale area for production of gas. It is being reported that the gas is wet, which means it consist liquid and condensate. This means higher price than by normal gas production. The operator Aruba Petroleum Inc. has prepared the project. From 2002 has Aruba had a drilling program in unconventional shale gas, and this is Aruba s first project in Marcellus Shale. Location. Marcellus Shale is situated in Pennsylvania and New York, and gives in generel a higher gas price than other gas standards in USA. The Perry and Lundy leases that is going to be drilled at is both placed in Lycoming County, Pennsylvania. At the same seismic line as Lundy, 2 miles south of, has Seneca drilled a well with a start production of Mcf. gas per day. Partners. Drilling of these wells are 75 % funded by one of US largest electricity companies. The company is at New York Stock Exchange and has together with Aruba a drilling program at wells per year in Barnett Shale in Texas. The structure. Ox Oil & Gas Inc. receives the assignment and bill of sale from Aruba Petroleum, and makes the assignment to a partnership owned of the investors. Ownership via partnership can easily be changed if for excample tax makes it appropriate to change structure. Aruba Petroleum Inc. Aruba Petroleum Inc. is a Texas based operator that now has made its moves into Marcellus Shale. Aruba has drilled after oil and gas for 26 years, and since 2002 has the company had a strong focus at unconventional shale gas. The company has drilled about 150 wells in Barnett Shale and is here a considerable player.

4 Project Economics for OX Marcellus 6 wells Project costs US $ Annual depletion Ownership WI% NRI% Drilling /cost price $ Depletion year 1 70,0% Royalty owners 21,5 Numbers of wells 6 Depletion year 2 40,0% Funded 75 58,9 Depletion year 3 30,0% Available 25 19,6 Depletion year 4 20,0% Taxes & Royalty Depletion year ,0% Produktion Tax oil and gas 0,0% Royalties 21,5% Number of prod.days 365 MCFGPD BOPD Carried WI 12,5% Startproduction Operating expences Oil & gas price Based on gas production year 1 Per year $ Low mid high OPEX $3,6 pr. Mcf Exp yearly increase O&G-price 3,0% Nymex WTI oil $80 $90 $100 CAPEX $4,7 pr. Mcf Exp yearly increase on LOE s 6,0% Henry Hub gas $4 $6 $9 6 wells expected production and revenue year Barrels Tusind Gas $4 Gas $6 Gas $9 oil per Cubic feet Oil $80 Oil $90 Oil $100 day gas pr day % p.a. % p.a. % p.a. "mcfgpd" 1 0, ,4% 66,9% 100,6% 2 0, ,5% 25,1% 37,9% 3 0, ,6% 16,2% 24,6% 4 0, ,9% 12,2% 18,6% 5 0, ,6% 10,2% 15,6% 6 0, ,6% 8,8% 13,6% 7 0, ,8% 7,6% 11,7% 8 0, ,1% 6,5% 10,1% 9 0, ,4% 5,5% 8,7% 10 0, ,8% 4,7% 7,5% 11 0, ,3% 3,9% 6,4% 12 0, ,8% 3,3% 5,4% 13 0, ,4% 2,7% 4,5% 14 0, ,0% 2,1% 3,8% 15 0, ,7% 1,7% 3,1% 16 0, ,4% 1,2% 2,5% 17 0, ,1% 0,8% 1,9% 18 0, ,0% 0,5% 1,4% 19 0, ,0% 0,1% 1,0% 20 0,0 293,2 0,0% 0,0% 0,6% Sum nominal values 20 years 114% 180% 280% Net Present value / Internal interest 3,9% 21,2% 49,8% Minimum investment for participation in OX Marcellus 6 Wells project is $ for a share at 0,025 % W.I. The project is a Cost Plus project, budget reserves of app. 10 % is paid back if not used. Our expectations to pay back at the project is about 3 years with the historically gas prices at New York Citygate.

5 Summery of the material. Aruba Petroleum Inc. is about to drill 6 wells in Marcellus Shale, Lycoming County, Pennsylvania. We are drilling at 2 Leases, Perry and Lundy. Together 811 acres. The primary drilling target is Marcellus formation in feet depth. We have the possibilities to drill more wells at the Leases in the future. The highest start production we have seen in Marcellus Shale lays only 2 miles nord of the Lundy Lease, at Mcf gas pr. dag. The average gas price at the New York Citygate has in the period been $ 8,4. This means the project is potential for very high returns. (We are expecting production of condensate, that pays higher price than the gas. It is a potential upside we have not put in our calculations. Anadarko is about laying new gasline in the area. An agreement about using this pipeline has been signed. It gives us a lower transportation deal than by using the pipeline that is in the area. Expected drilling start is at the end of the year 2011.

6 Orderform Fax to: (+45) Project: OX Marcellus 6 Wells The Undersigned hereby order % Working Interest I the project OX Marcellus 6 Wells from Pinja Administration Inc, Dallas, Texas. X Y X Y Share calculator 0,025 % 0,05 % 0,075 % 0,10 % 0,15 % $745 $1.489 $2.234 $2.978 $4.467 $ $ $ $ $ ,20 % 0,25 % 0,30 % 0,40 % 0,50 % $5.957 $7.446 $8.935 $ $ $ $ $ $ $ Name/Company ID#/Company# Address Zip-code & City Phone Fax Information about your revenue account: Account# Iban# SWIFT-code USD/Euro Payment information (Denmark or USA) Pinja Administration Inc. Pinja Administration Inc. Handelsbanken Herning Texas Capital Bank USDkonto: McKinney Avenue; Suite 800 IBAN-nr.: DK Dallas Texas Swift: HANDDKKK Account#: The undersigned is familiar with the project is budget to a price of $ Herein are all expenses for drilling, testing and completion included. 1. The undersigned are commited to pay for the Leases when signing (X % of total amount) 2. Drilling, testing and completion has to be paid in no later than 1. Of September 2011 (Y % of total amount) If not the rest is paid in before date 1. Of September 2011 the Lease pay in will not be returned. The undersigned is familiar with and accept the buy of WI is connected with a risk of loss. The purchaser of W.I. (Working Interest) are not liable for more than invested amount in the project. Historic revenue is no guaranty for future revenue. The Investor is himself complete responsible for his actions, and may therefore evaluate the risk involved in the single deal and investment. Pinja Adm. Inc. and Oxoil-companies nor can or will give any guaranty for the investors revenue. Sales Consultant: Place and date: Signature:

7 Business Conditions for Pinja Administration Inc. 1. Pinja sells working interest in oil and gas projects. The operator participate himself in every project. This may be interpreted as the investor guarantee of a suitable operation of the projects. Pinja receives when selling you working interest a once-for-all commission. For this commission you receive: An exciting and thorough prospectus materiel which Pinja presents to you. Only projects which is found interesting is in offer, when Pinja themselves in a certain extent also invest in the projects. 2. A signature on a sales agreement is first binding/valid when the payment has entered Pinja s project account. 3. The investor receive a confirmation in writing from Pinja, when the money is registered at Pinja s project account. 4. If a project is oversubscribed, the payment date determines the distribution of shares to investors. If the trade cannot be enforced, the transfer and return of investors money will be done at investors cost. 5. The return is paid out monthly or quarterly, based on the operator. The transfer of revenue goes from Pinja to your account. Pinja charge an administration fee of 10 % of net returns for all projects with positive returns. This covers the preparation and dissemination of return for each project and for news updates. Projects with negative returns imposes no fee. 6. By sale of projects facilitated by Pinja, we charge a commission of 5 % of the sales amount. returns has to be paid into Pinja s project account. However, if you do not want to pay negative returns in the future, you are free not to do so, but you have to inform Pinja in writing, and your equity goes back to Pinja or the operator. 8. You are free to sell your projects to others. However, you must inform Pinja in writing. 9. You acknowledge with your signature on the order form, to be familiar with the risk of investing in the oil and gas industry. 10. You accept and agree too see to it yourself, that this ownership is appropriate in relation to the tax rules that you will be subject to. You have been informed, and you have accepted, that Pinja withhold, whatever amount that may be required by the American Tax Authorities, for tax in the USA. 11. Being a client by Pinja, we recommend that you every year, and at your own expense (app. $450 for individuals), have an US Tax Return prepared. Pinja has chosen an American accountant, who does Tax Returns according to American legislation. Pinja offers to help with the Tax return if desired. 12. Pinja advises you from all the information that we find reliable and necessary for businesslike advising. Pinja cannot be held responsible for a return lower than the expected return. 13. Hjoerring (Hjørring) District Court has jurisdiction for any disputes between you and Pinja. 7. Negative returns offset positive returns before payment. Negative Prepared September 2010

8 Pinja Oil & Gas ApS. CVR.: Godthåbsvej 10 DK-9320 Hjallerup Tel Fax Mob Internet: Pinja Adm. Inc. Danmark Bank: Handelsbanken Østergade 2, DK-7400 Herning DKK-konto: USD-konto: IBAN-NR.:DK SWIFT-CODE: HANDDKKK Pinja Adm. Inc. United States Preston Road, Suite 800 Dallas, Texas Tel Fax Bank: Texas Capital Bank Account no Clearing code: FW EIN#