1. Trading Symbol: SPI – TSX Venture Exchange Website: www.CSRi.ca Unconventional Natural Gas A Compelling Case. A Focused Vision. March 2007

2. 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. 3 HISTORY OF CSRi 1987Incorporated as Super Twin Resources (a junior mining venture) 2001 Began investigating CBM potential in western Canada 2002CBM joint venture with Chevron Texaco, current management joined CSRI 2003 Joint venture dissolved, CSRi retained all rights to proprietary information, commenced land acquisition and resource confirmation 2004 + Evaluation of Farrell Creek potential

4. 4 STRATEGY  Fourth year of a five year development plan  Focus on unconventional gas resources  Specifically the coals, shales and tight sands of the Gething Formation at Farrell Creek, NE B.C.  Sproule Associates Limited (“Sproule”) estimates 1.8 tcf of discovered resource for the shallow Gething, Gates and Moosebar Formations  Additional deep rights are prospective  Phased approach to testing and development  8 test wells drilled to date  Pilot project with 4 test wells that have test flared 50 mmcf  Planned production by the end of 2007 with a 2 km tie-in to Duke transmission line  Full scale commercial development, downspacing and optimization

5. 5 FARRELL CREEK LAND PLAT T83 T82 T81 T84 T85 R23R24R26R2593-O-16

6. 6 LAND SUMMARY PROPERTYLAND ( sections ) COMMENTS Farrell Creek, B.C.62  94% average WI in Gething  96% average WI in deep rights on 75% of lands Monias, B.C.1  100% WI surface to basement Coal Lake, AB3  100% WI in Mannville  100% WI Horseshoe Canyon in one section – 4 suspended wells Iskut, B.C.2  Wollastonite mineral deposit  No current activity

7. 7 FARRELL CREEK GEOLOGY Average depth to top of Cadomin is 900m

8. 8 FARRELL CREEK  High working interest, operated land position  100% operated  39,506 gross acres, average 94% WI  Deep rights in 75% of lands, average 96% WI  Independent estimate (Sproule) of 1.8 tcf of discovered resources from the shallow horizons only  32 – 41 bcf per section from the Gething, Gates and Moosebar Formations  1.4 tcf attributed to the Gething “Rock Package”  Coals: 13.1 – 16.4 bcf per section  Shales: 10.9 – 17.6 bcf per section  0.4 tcf in the Gates and Moosebar Formations  7.1 – 8.5 bcf per section  Sproule did not estimate recovery factors and no proved or probable reserves were assigned  Long reserve life characteristic

9. 9 FARRELL CREEK  Currently flow testing 4 well pilot program  Gas rates: 50 – 250 mcf/d per well (>24 hr production test)  Water rates: 10 – 60 bbl/d per well  Cumulative test flaring of over 50 mmcf from 4 test wells  Trucking water to Fort St. John disposal facility  Various completion techniques have been evaluated  All wells were fracture mapped  Six section Experimental Scheme approved by BC MEM/OGC  Capital costs to date (excluding land) - $19 million  Optimal spacing not yet determined  200 – 500 well locations (assuming 4 - 8 wells per section)  Horizontal potential not yet determined  Expected productivity: 250+ mcf/d per well

10. 10 OPERATIONAL PLANS 2007/8  Further optimization of drilling and completion techniques  Determine optimal well spacing  Evaluate directional and/or horizontal potential  Continue to reduce capital costs per well  Proceed with Duke Energy tie-in  Maintain favorable relations with stakeholders  Anticipate gas flowing to market late this year  Evaluate deep targets for farmout or deep test  Additional vertical wells to delineate reservoir extent

11. 11 ADDITIONAL POTENTIAL  Moosebar & Gates shales resource potential (Sproule) estimates:  0.4 tcf  7 – 8 bcf per section  Deeper zones  Estimates of >175 bcf per section OGIP  Cadomin, Fernie, Nordegg, Halfway, Doig, Montney and Debolt  Drilling on neighboring land for targets in the Bluesky, Halfway, Debolt and other deeper targets  Horizontal drilling potential

12. 12 CAPITAL STRUCTURE, OWNERSHIP  Listed – SPI (TSX Venture Exchange)  Working capital surplus - $2.1 million  No debt  Tax pools – $39.6 million (est. as at Dec. 31, 2006)  28,833,082 shares outstanding (basic)  29,129,868 fully diluted  2,496,000 options outstanding – avg. strike price = $2.46  3,200,000 warrants outstanding – strike price = $2.50 (expiring Aug.11, 2007)  Management and directors own 2.38%  Largest shareholder - Sprott Asset Management (15.6%)  Employees – 8 permanent, 3 contract, 1 field (contract)

13. 13 VALUE CONSIDERATIONS  Convert large Gething resource to reserves VALUE RESOURCERESERVES  Explore/farmout deep rights

14. 14 UNIQUE STRENGTHS  Significant resource: 1.8 tcf (shallow formations only)  High working interest land position: 39,506 acres  Multiple prospective targets  Resource knowledge and expertise of technical team  Ready access to infrastructure and pipeline  Advancing towards development phase of resource

15. Creating Shareholder Value Balanced Approach. Focused Vision.

16. 16 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