Summary of Oil and Gas Reserves
As of December 31, 2010
Forecast Prices and Costs
|
|
|
Light/Medium Oil (MBbl) |
|
Natural Gas(MMcf) |
|
NGL(MBbl) | ||||||
|
|
|
Gross |
|
Net |
|
Gross |
|
Net |
|
Gross |
|
Net |
| Proved |
|
|
|
|
|
|
|
|
|
|
|
|
Developed Producing |
|
0.0 |
|
0.0 |
|
1,419 |
|
1,131 |
|
30.4 |
|
24.3 |
Developed Non-Producing |
|
0.0 |
|
0.0 |
|
0.0 |
|
0.0 |
|
0.0 |
|
0.0 |
Undeveloped |
|
0.0 |
|
0.0 |
|
0.0 |
|
0.0 |
|
0.0 |
|
0.0 |
| Total Proved |
|
0.0 |
|
0.0 |
|
1,419 |
|
1,131 |
|
30.4 |
|
24.3 |
| Probable |
|
0.0 |
|
0.0 |
|
2,172 |
|
1,822 |
|
22.5 |
|
18.0 |
| Total Proved plus Probable |
|
0.0 |
|
0.0 |
|
3,591 |
|
2,953 |
|
52.9 |
|
42.3 |
Summary of Net Present Values of Future Net Revenue
As of December 31, 2010
Forecast Prices and Costs
|
Before Income Tax Discounted At |
Unit Value $/BOE Net Reserves Discounted at 10% before Income Tax |
|||||
|
0% |
5% |
10% |
15% |
20% |
||
|
(M$) |
(M$) |
(M$) |
(M$) |
(M$) |
($/BOE) |
|
|
Proved |
||||||
|
Developed Producing |
5,762 |
4,219 |
3,311 |
2,725 |
2,319 |
15.56 |
|
Developed Non-Producing |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Undeveloped |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Proved |
5,762 |
4,219 |
3,311 |
2,725 |
2,319 |
15.56 |
|
Probable |
7.363 |
5,336 |
4,108 |
3,276 |
2,674 |
12.77 |
|
Total Proved Plus Probable |
13,125 |
9,555 |
7,419 |
6,001 |
4,993 |
13.88 |
Notes:
(1) The Sproule Report estimates Fortress’ share of future capital expenditures necessary to achieve the estimated present worth of future net cash flows based on escalating costs from "Proved and
Probable Reserves" to be $1,325,000.