1. 1 ACQUIRE, EXPLORE, EXPLOIT Pritchard Energy Conference January, 2007 W HITTIER E NERGY C ORPORATION

2. 2 Forward-Looking Statement Cautionary Note to U.S. Investors The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms in this presentation, such as “Proved + Probable” or “3-D Supported,” that the SEC's guidelines strictly prohibit us from including in filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 10-KSB, File No. 000-30598, as amended, available from us at Whittier Energy Corporation - Investor Relations and Company Information, 333 Clay Street, Suite 700, Houston, Texas, 77002. You also may obtain this information at the SEC's public reference room, located at 450 Fifth Street NW, Washington, D.C. 20549. Please call the SEC at 1-800-SEC-0330 for further information on the public reference room. This filing is also available at the internet website maintained by SEC at http://www.sec.gov.http://www.sec.gov This presentation includes forward-looking statements made in reliance on the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on Whittier's current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements. Risks, uncertainties and assumptions include (i) risks inherent in the exploration for and development and production of oil and gas and in estimating reserves, (ii) the presence or recoverability of estimated reserves, (iii) the ability to replace reserves, (iv) unexpected future capital expenditures, (v) general economic conditions, (vi) oil and gas price volatility, (vii) the success of our risk management activities, (viii) competition, (ix) regulatory changes, (x) the ability of management to execute its plans to meet its goals and (xi) other factors discussed in Whittier's filings with the United States Securities and Exchange Commission. Whittier assumes no obligation to publicly update or revise any forward-looking statements contained in this presentation, whether as a result of new information, future events, or otherwise.

3. 3 NASDAQ:WHIT Acquires and explores for conventional resources in onshore Texas and Louisiana Current reserves estimated at 50 Bcfe* 70% natural gas; 50% operated; R/P ratio 7 years Current net production: >19 Mmcfed Legacy – 100 year history of growing companies and monetizing *includes 2006 mid-year acquisitions estimated additions from 2006 drilling program Corporate Highlights

4. 4 Business Strategy  Build Well Capitalized Base of Producing Properties  Pursue Acquisitions in Core Areas  South Texas, Gulf Coast, Permian Basin  Significant reserve and production growth potential  Negotiated Transactions  Generate Drilling Prospects  Working Interest dependent on risk and cost  Operated and Non-operated  Disciplined Investment Approach  Continuously review property portfolio  Divest of non-core assets

5. 5 Whittier Core Areas Net Production (9/06) Reserves (9/06) 50 Bcfe est. proved reserves* Current production over 19 Mmcfed * Includes Westhoff Ranch & Imperial Acquisitions and estimated adds from 2006 drilling program

6. 6 Creating Value 2001 to Present  Growth via Acquisitions 12 Operated properties –$56 million RIMCO acquisition in 2005 –$28.1 million for two transactions in 2006  Growth via Drill Bit  38 New wells scheduled for 2007  Approximately 85% success rate in 2006 Demonstrated Results –Net Reserves grew by over 5,000% –Net Production grew by over 900% Daily Average Production Proved Reserves Oil * Includes Westhoff Ranch & Imperial Acquisitions Gas

7. 7 Growth Drivers - Acquisitions Two Acquisitions Completed in 2006 –15.9 Bcfe of proved reserves* –6.8 Bcfe of identified 2P resource –Net production approximately 3.0 Mmcfed –Total purchase price $28.1 million* Westhoff Ranch, Jackson County, Texas 75% Operated working interest Current net production of approximately 2.7 Mmcfed Cap Ex budget for 2006 of $2 million Closed June 1, 2006 Imperial Petroleum Purchased three fields in Texas and Mississippi 50% Average working interest 15 proved undeveloped locations Potential to add approx. 3.0 Mmcfed of net production in 2007 Closed August 9, 2006 * Net of closing adjustments; third party and internal estimates for reserves

8. 8 Organic Growth Potential for significant organic growth over next 2 years –>90 Probable, possible and 3D supported locations –75 Bcfe of non-proved resources –Undeveloped land: > 17,000 net acres –3-D Seismic database: > 2,900 square miles –Generating multiple new prospects 4,000 acre S. Texas Olmos prospect Leasing 7 prospects in Crowley area 43 Sq mi 3D Leasing 5 prospects at East Lake Arthur, LA. Reviewing and leasing S TX 3D prospects

9. 9 2007 Preliminary Capital Budget Capex by Region Capex by Type $39 million budget Drill 38 new wells; 16 operated Continued emphasis on non-proved resources

10. 10 SOUTHEAST TEXAS 2 Yegua wells completing SOUTH LOUISIANA – 2 Wells 5-15 Bcfe Marg Tex test in East Lake Arthur 1 well in Rayne currently drilling So. Bosco waiting on pipeline SOUTH TEXAS – 1 Wells 1 Wilcox non-operated well 2007 Current Projects

11. 11 2007 Capital Budget 38 Wells to be Drilled GULF COAST 24 Wells SOUTH TEXAS 12 Wells PERMIAN BASIN 2 Wells

12. 12 SE TEXAS 3D PROJECT 60 sq. mile proprietary survey Six Nodosaria wells drilled in 2006 Three Yegua wells drilled in 2006 Fourth Yegua well off-structure;may be re-drilled in 2007; Fifth well dry 8-10 Yegua wells planned for 2007 18% working interest, >3 Mmcfed net 2007 Projects Southeast Texas

13. 13 EAST LAKE ARTHUR AREA New 43 Sq. Mile 3D Survey Five prospects leased 3 Bcfe to 20 Bcfe per prospect Reviewing three additional prospects 27% working interest 2007 Projects S. Louisiana Retained 50% avg. working interest Five prospects leased; 5 Bcfe to 30 Bcfe per target 12,000’-16,000’ targets Rig scheduled 1/07

14. 14 RAYNE PROSPECT SOUTH BOSCO 2007 Projects S. Louisiana Whittier operated field 19% working interest offset to 500 MBO well Currently drilling 10,500’ target; updip to production 40% working interest Waiting on pipeline

15. 15 TOM LYNE FIELD Drilled 1 well; 1 recompletion 600 Mcfed to 2 Mmcfed (1 Mmcfed net) 55% avg. working interest SCOTT & HOPPER FIELD Drilled 2 wells; 1 recompletion 500 Mcfed to 5 Mmcfed (1.8 Mmcfed net) 45% avg. working interest Delivering Results South Texas – Developing Acquired Properties Increased net production from 500 Mcfed to 2.8 Mmcfed

16. 16 SE Texas 3D Project Producing >20 Mmcfed (3 Mmcfed net) 9 successful wells drilled 18% working interest DUSON FIELD Producing 7.3 Mmcfed (500 Mcfed net) 10% working interest Delivering Results Grass Roots Projects 2 internally generated projects added over 3.5 Mmcfed net `

17. 17 FINANCIAL HIGHLIGHTS

18. 18 Revenue Growth ($MM’s) * Operating Cash Flow is a Non-GAAP measure. Reconciliation shown on slide 27

19. 19 Per Share Growth ($’s) Operating Cash Flow is a Non-GAAP measure. Reconciliation shown on slide 27

20. 20 Shareholders’ Equity Growth ($MM’s)

21. 21 Production Growth (Average Mmcfed) *Daily production as of Sept. 01, 2006

22. 22 Reserve Growth (Bcfe) Includes Westhoff Ranch & Imperial Acquisitions

23. 23 Cost structure $7.95 actual revenue per Mcfe First Nine Months 2006

24. 24 Acquisition Margins $3.20 $5.86

25. 25 Operating Statistics W

26. 26 Balance Sheet

27. 27 The following table reconciles Operating Cash Flow for the periods indicated: Operating cash flow represents net income, as determined under generally accepted accounting principles (“GAAP“), with certain non-cash items added back. Although a non-GAAP measure, operating cash flow is widely accepted as a financial indicator of an oil and gas company’s ability to generate cash that can be used to internally fund exploration and development activities and to service debt. This measure may also be used in the valuation, comparison, rating and investment recommendations for companies in the oil and gas exploration and production industry. Operating cash flow is not a measure of financial performance under GAAP and should not be considered as an alternative to cash flows from operating, investing, or financing activities or as an indicator of cash flows or measure of liquidity. Reconciliation of Non-GAAP Financial Measures

28. 28 Stock Price as of 12/31/2006: $9.27 Number shares outstanding: 12,595,426 Market Cap: $116,759,590 First 9 months of 2006: –Earnings per Share: $0.49 –Cash Flow per Share: $1.63 –EBITDA per Share: $1.75 –P/E: 19:1 –P/CF: 5.7:1 Trading Metrics

29. 29 Track record of growth and value creation Coherent strategy for creating and realizing value Experienced management team executing business plan Diversified base of producing properties Multi-year inventory of drilling projects Strong balance sheet to support business strategy Summary

30. 30 January 2007

31. 31 ADDENDUM

32. 32 Bryce W. Rhodes President & Chief Executive Officer  Over 25 years of energy industry experience  Former V.P. Whittier Energy  Director of PYR Energy Corp. since 1999  Education: MBA, Stanford Univ.; BA Geology, BA Biology, UC Santa Cruz  Over 13 years of financial experience  Former tax director  Significant public company experience  Education: MPA, UT Austin  Over 19 years of energy industry experience  Former Managing Director of Acquisition and Divestitures and Director for Torch Energy Advisors  Former Manager of Acquisitions and Divestitures for Apache Corp.  Education: MS Mineral Economics, Colorado School of Mines; BS Petroleum Engineer, UT Austin Daniel H. Silverman Executive V.P. & Chief Operating Officer Geoffrey M. Stone, CPA V.P. Finance & Chief Accounting Officer Management Team Experience & Diversity

33. 33 Oil Hedges November 2006 – December 2006 6,000$58.00 November 2006 – December 2006 6,000$74.05 January 2007 – June 2007 15,000$73.85 July 2007 – December 2007 9,000$73.00 January 2008 – December 2008 48,000$71.35 Collar Contracts: November 2006 – December 2006 16,000$30.00$34.25 November 2006 – December 2006 3,600$49.50$68.60 January 2007 – June 2007 54,000$47.50$69.00 January 2007 – December 2007 78,000$47.50$69.25 January 2008 – December 2008 48,000$60.00$83.00 Total Contract Period & TypeVolume Nymex Contract Price Floor Ceiling/Swap Price Crude Oil Contracts (barrels ) Swap Contracts:

34. 34 Swap Contracts (mmbtu) November 2006 – March 2007151,000N/A$10.75 April 2007 – October 2007210,000N/A 6.97 April 2007 – October 2007214,000N/A 9.25 April 2007 – October 2007*490,000N/A (0.37) November 2006 – March 2007150,000N/A 8.16 November 2007 – March 2008152,000N/A 10.98 April 2008 – October 2008214,000N/A 8.65 Collar Contracts (mmbtu) November 2006 – December 2006 80,000$7.00 9.51 November 2006 – December 2006 20,000 5.00 6.45 December 2006 – March 2007300,000 7.50 11.20 November 2006 – March 2007151,000 9.00 14.50 April 2007 – October 2007280,000 6.25 7.95 April 2007 – October 2007214,000 7.50 12.65 November 2006 – March 2007200,000 7.25 9.75 November 2007 – March 2008152,000 9.00 16.25 April 2008 – October 2008214,000 7.50 10.90 November 2006 – November 2006120,000 6.00 6.90 December 2006 – December 2006 35,000 7.00 9.30 November 2007 – March 2008150,000 7.75 12.00 April 2008 – October 2008140,000 6.50 10.25 *these contracts require the Company to pay Houston Ship Channel price and counterparty to pay NY Mercantile Exchange price less $0.37 Natural Gas Contracts

35. 35 U.S. Gas Rig Count vs Production Source: EIA and BHI Rig Count

36. 36 U.S. Oil Rig Count vs Production Source: EIA and BHI Rig Count