Company Review

Winfield Resources is a junior oil and gas company looking to break into the big leagues. If they succeed, they will transform from a very small junior into a potentially multi billion dollar Company.

The Company’s primary business is the engineering, procurement, construction and management of crude oil refineries. The Company’s intended business includes the building, owning and operating of one or more oil refineries in Northern Africa.

Libya

Winfield Resources Limited has received approval from the Libyan Foreign Investment Board with respect to the Company’s application to build, own and operate a new 300,000 barrel per day stand alone oil refinery at Ras Lanuf, in the Great Jamahiriya of Libya. The Libyan Ministry of Economy, Trade and Investment has issued a decree, dated 29/05/2008, granting Winfield the license to refine oil for a term of 25 years. Winfield has also received conditional approval from the National Oil Corporation (“NOC”) of Libya to crude oil supply arrangement. Winfield will purchase 150,000 barrels per day of crude oil from the NOC, and the remaining 150,000 b/d from other sources where the crude oil is heavier than the Libyan blends.

Winfield has engaged Devereux Project Finance of London UK (“DPF”) to act as the Company’s project finance consultant, to source, negotiate and arrange an acceptable offer of finance for the engineering, construction and operation of the proposed oil refinery.

Mauritania

Winfield holds a Licence, dated February 5, 2008, and valid for 25 years, to refine petroleum in the Islamic Republic of Mauritania. Winfield has identified a site at Nouakchott, Mauritania to construct and operate a 300,000 barrel per day oil refinery. Winfield has engaged KBC Process Technology Ltd. of Surrey, UK, under a Services Agreement (dated November 12, 2007), to provide consulting services and technical support to include refinery configuration review; refinery product yields and qualities; marketing plans; technology selection and licensor selection; energy efficiency review; project design basis document review and project schedule strategy review. KBC has also been engaged to create a bankable feasibility report to within +/-10% final project costs. KBC is one of the leading independent refining and petrochemical consultancy groups around the world

Winfield has negotiated a feedstock arrangement with Macron Petroleum Company Limited to provide the Nouakchott, Mauritanian oil refinery with 300,000 barrels per day of Venezuelan crude oil.

Winfield has engaged Devereux Project Finance of London UK (“DPF”) to act as the Company’s project finance consultant, to source, negotiate and arrange an acceptable offer of finance for the engineering, construction and operation of the proposed oil refinery.

Tunisia & Morocco

Winfield has made application to build, own and operate a greenfields, stand alone 300,000 barrel per day oil refinery in the tax free Port of Zarzis in the Republic of Tunisia as well as the Kingdom of Morocco.

Enhanced Oil Recovery

Winfield complements its primary business of refining with enhanced oil recovery (“EOR”) activities. This second business creates additional feed stock for refining. Winfield has acquired D + S Engineering of Calgary, Alberta, to provide oversight and management of new EOR opportunities.
Winfield has entered into a joint venture arrangement with Creative Energy Systems (CES) of Edmonton, Alberta, to exploit waste oil deposits for recovery to refinery feedstock’s.

Fuel Ethanol

Winfield is also seeking an entry into the fuel ethanol industry. In 2007 Winfield engaged TDI Technologies of Edmonton, Alberta to prepare a full feasibility report for the creation of a ethanol – feedlot facility to be located near High Level, Alberta. The High Level report is based on an earlier TDI Technology design basin Poundmaker, Saskatchewan.

The Poundmaker facility use wheat as its feedstock and extends the food chain by combining a 25,000 cattle feedlot, using the protein portion of the wheat kernel, with a fuel ethanol capability , using the starch component of the wheat kernel. This approach distinguishes itself from the corn based ethanol plants that compete directly with corn derived foodstuffs.

TDI Technologies of Edmonton, Alberta, has prepared for Winfield a full feasibility report on the proposed High Level, Alberta, fuel ethanol facility. Winfield is seeking debt finance to build a feedlot-ethanol facility near High Level, Alberta.