This document summarizes a presentation by Bolivar Energy Corp., a Canadian oil and gas exploration company focused on Colombia. The company has a 17.5% interest in the LLA-24 exploration block in the Llanos Basin, where it has acquired 3D seismic data and plans to drill an exploration well in Q1 2011. It also has a pending 32.5% interest in the Arrendajo block, where 3D seismic has been shot and a well is planned for 2011. The company aims to grow production to 5,000 barrels of oil per day and sees significant upside potential from its portfolio and partnerships.

1. A start-up oil and gas exploration and production company focused on Colombia

2. DisclosureThis presentation contains certain statements that may be deemed "forward-looking statements". All statements in this presentation, other than statements of historical fact, that address events or developments that Bolivar expects to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Bolivar believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include, but are not limited to, market prices, exploration and drilling success, continued availability of capital and financing and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of Bolivar's management on the date the statements are made. Bolivar undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.February 2011Bolivar Energy Corp.2

3. Overview (TSX-V: BVR)Experienced team with substantial previous success in ColombiaKey members founded Prospero Hydrocarbons Inc., acquired by Alange Energy Inc. (ALE:TSX-V) for $51mm on October 10, 2009Colombia is #2 onshore oil & gas exploration and production target worldwide(*), and is one of the best fiscal regimes in the world for small oil fieldsRaised $6mm in non-brokered private placement in April 2010, and $21mm in a bought deal in January 2011Interest in 2 exploration and production blocks with a sole focus in Colombia17.5% interest in LLA-24 in the Llanos BasinPurchased Pacific Rubiales’ 32.5% interest in Arrendajo, Llanos Basin(*)Fugro Robertson Limited's International New Ventures Survey 2009February 2011Bolivar Energy Corp.3

4. ManagementJohn Moreland, BSc., P.Geol – President, CEO and DirectorCo-founder of Prospero Hydrocarbons Inc.; 35 years in international oil & gas exploration & production including a period resident in Bogota; worked for BP, Suncor, Lasmo (in Colombia now Petrobras) and Argosy (now Gran Tierra), and since 2002 has run a geological & project management consultancy for Calgary based companies working overseas, including Global and Petrominerales. Involved in discovery of Santiago Este, El Palmar, Los Trompillos, Juncal, Purificacion, Venganza, Revancha, Guepaje, Guayuyaco and Inchyaco fields in ColombiaPeter Argiris, CFA, – Chief Financial OfficerPeter has worked in oil and gas research and financial analysis for over six years having covered various subsectors of exploration and production companies including domestic, oil sands and most recently companies with an international focus. He has worked for a number of investment banks including Canaccord Capital, Macquarie Capital and Orion Securities and prior thereto with RBC in wealth management. Peter holds the Chartered Financial Analyst designation.Juan Carlos Robles, MSc., – Country Manager ColombiaEx CEO of PetroSouth Energy, and Country Manager for Hupecol, Juan Carlos started work with Hocol and then Amoco. He was responsible for the discovery of Hupecol’s Tambaqui and Jaguar oilfields, and successfully managed his own exploration company promoting blocks to various investorsFebruary 2011Bolivar Energy Corp.4Board of DirectorsSteve VanSickle, BSc., ChairmanCEO of Fairborne Energy Ltd., Steve has an extensive background domestically and internationally for the past 20 years with Amoco, Pan East Petroleum Corp., Canadian Midstream Services Ltd, and Duke Energy Field Services.John Moreland, BSc., P.Geol – President and CEO/DirectorGreg Bay, B.Comm, CFA – DirectorFounding partner & CEO of Cypress Capital, Greg brings 25 years investment experience in the oil and gas sector with Rhodes Denton, Nesbitt Thomson, Royal Trust, National Trust, & M.K. Wong & Associates (HSBC Asset Management Canada Ltd.). Keith Brown, B.Sc. – DirectorConsultant in reserve evaluation and management, Keith was a member of the committee which developed the Canadian Oil & Gas Evaluation Handbook – the reference for Canada’s National Instrument 51-101 which defines reporting requirements for public oil and gas companies. Keith has 40 years experience with RBC, Ryder Scott Company, and Petro Andina, now PAREXDavid Robinson, B.Sc., MBA – DirectorPrevious President of Benchmark Energy Corporation, David has been involved with major international petroleum projects ranging from Sudan and Egypt to KazakhstanFebruary 2011Bolivar Energy Corp.5

5. Why Colombia?Possibly the best fiscal regime in the world for small fields

6. Royalty 8% (up to 8 mmbbls), corporation tax = 33%, (no back-in)

7. Government encourages foreign investment

8. Substantial recent success (Llanos 3D 67%)

9. Excellent petroleum geology fundamentals

10. Little exploration and large remaining potential

11. Extensive pipeline infrastructureFebruary 2011Bolivar Energy Corp.6Independent regulatory authority

12. Strong legal and regulatory framework

13. Low cost of entry

14. No signature bonus, modest minimum work programs

15. Ownership of crude and freedom to sell in international markets

16. No restrictions on repatriating profits