Forent Energy Announces Q3 2015 Financial and Operating Results - Seite 2

• Average production 250 boe/d (68% oil and liquids)
• Purchase price of $16,000⁽²⁾ per flowing boe

Reserves Category		MBOE(1)		Acquisition cost per BOE(2)
Proved Developed producing		486.4		$8.22
Total Proved		616.2		$6.49
Proved plus probable		1,748.7		$2.29

(1)	Acquisition gross reserves (before royalties) by Sproule based on a July 31, 2015, mechanical update of the Sproule December 31, 2014 reserve report, prepared in accordance with NI 51-101.
(2)	Based on $4.0 million closing purchase price

Forent benefits from the Acquisition as follows:

• An increase of 100% to Forent's current production level
• An increase of 62% to Forent's proved developed producing reserves
• An increase of 108% to Forent's total proved plus probable producing reserves
• An increase of 2,000% to Forent's net land holdings in the Twining area
• The Acquisition is expected to lower Forent's general and administration per boe by 50%

Forent's team has identified significant upside including:

• 34 gross development drilling locations
• Stimulation of existing wells to enhance production
• Operational and facility synergies to improve efficiencies

FINANCIAL

Forent's revenue, net of royalties, for the three months ended September 30, 2015 was $523,000 compared with $1.0 million in the prior year quarter. Q3 2015 funds outflow from operations was $362,000 compared with funds flow of $111,000 in Q3 2014. For the nine months ended September 30, 2015, Forent's revenues net of royalties was $1.7 million compared with $2.6 million in the prior year period. Funds outflow from operations for the nine month period was $1.1 million compared with funds flow of $261,000 for the same period in 2014.