Tight Oil Unconventional/Conventional Exploitation Opportunity Reconcavo Basin, Brazil

1. Tight Oil Unconventional/Conventional Exploitation Opportunity Reconcavo Basin, Brazil January, 2013

2. 2011 -2012 Activity • Fortress management has been focused on identifying an established oil prone basin where completion techniques readily used in North America could be deployed to develop known oil accumulations. • This search led us to the Reconcavo Basin, Brazil where Fortress identified and quantified a very large Tight Oil development opportunity in a mature producing basin in Brazil. • The resource is well defined with prior drilling and 3D seismic; and • Producing fields from Tight Oil formations surround the development area. • In March 2012, Fortress entered into a Purchase and Sale agreement to acquire a private Brazilian oil and gas company and two additional exploration Blocks in the Reconcavo Basin. • In November 2012, Fortress entered into an agreement with Petrominerals Ltd. to jointly acquire the assets in the Reconcovo Basin and for Petrominerales to assume operatorship. • Fortress retains a 25% working interest in: • 9 Exploration Blocks totaling 215 sq km in the Reconcavo Basin; • 142 sq km of Proprietary 3D Seismic; • 816 sq km of Legacy 3D Seismic; and • 60 bbl/d of production from three producing fields- Bom Lugar, Jiribatuba, Aracaju.

3. Acquired Lands – Reconcavo Basin

4. Reconcavo Basin, Brazil– Mature Basin Rio de Janeiro

5. Stratigraphic Chart • Cretaceous aged lacustrine sediments infilling a rift basin • Source shale and reservoir tight sands deposited in direct contact with each other, inter-bedded

6. Schematic Geological Cross-Section • Candeias Formation of the Gomo Member is a rich source rock with total organic carbon (TOC) of 1.0% - 2.0% and up to 10% (Similar to Cardium in Western Canada) • Type 1 Kerogen • Thermally mature for oil

7. Comparison to the Bakken

8. Conventional Versus Unconventional/Tight Conventional Shale Gas Eagleford Gomo Sands Bakken Concrete Cardium Halo

9. Well Logs – Net Oil Pay Determination • Block 183 • Identified sand pay at 2600m to 3640m. • Porosities 8-14% • Interval 2,750 to 3,100 within the oil window • 107m pay – average porosity 9.5% • Individual sand layer up to 58m • Oil saturations – 70-80% • Drilled by Petrobras in 1984

10. Net Pay of Gomo Sands

11. Gomo Sands – A Working Oil System • Sesmaria – Cum 7.5mm bbls from Gomo Sands since 1966 • 38 wells • Fazenda Primera – 1988 • IP rate of 250 bbl/d • Surrounding development • Tested 1,200 boe/d – 1973 • Cum – 13,000 bbl • Recently placed back on stream 20 bbl/d • Miranga Profund 19 - 1987 • 115m sand with average porosity of 12.6% • 3LP-0003 • 115m of sand with average porosity of 12.2% • DST – Oil cut mud • Vale do Pojuca – 1991 • 140m sand with average porosity of 10.6% • 1OIT-0001 • 215m of sand with average porosity of 12.8% • DST – Oil cut mud • 1RJU-0001 - 1984 • 105m sand with average porosity of 11.5% • Cexis – Cum 14.9mm bbls from Gomo Sands since 1966 • 54 wells • Rio Fundo 6 - 1984 • 107m of sand with average porosity of 9.5% • Three DST – Indicating 0.1 - 2md permeability • Candeias – Cum 107mm bbls from Gomo Sands since 1941 • 166 wells • Core – Confirms hydrocarbon saturation • Fluorescence • 100m net pay • Bom Viver – Tested • 5.0mmcf/d - 37 bbl/mmcf • Condensate

12. Production Acquisition – Bom Lugar • 3 Pools identified in GOMO from seven existing wells and 3 D Seismic • 10 -36m of net oil pay observed in three wells – oil recovered • Average Porosities 8 – 12% up to 18% • GOMO Oil production from one well – 13,000 bbls, 34 API, tested with high rates • Two Producing Wells – 50 bbld/d – 78,800 bbls – REM • Originally developed targeting the Curacao at shallower depths Suspended Well Producing Well • Tight Oil Reserves - Gomo Member Probable Location Proven Undeveloped Location

13. Estimated Net Backs

14. Disclaimer • Confidentiality • This presentation and its contents are confidential. Under no circumstances are its contents to be reproduced or distributed to the public or the press. This document is for information purposes only and does not constitute an offer to sell or a solicitation to buy securities in any jurisdiction. • Market Data • This presentation contains certain statistical, market and industry data that was based upon information from industry publications and reports or was based on estimates derived from the same and management’s knowledge of, and experience in, the markets in which the Corporation operates. Government and industry publications and reports generally indicate that they have obtained their information from sources believed to be reliable, but do not guarantee the accuracy and completeness of their information. None of the authors of such publications have provided any form of consultation, advice or counsel regarding any aspect of, or is in any way whatsoever associated with, this presentation. Further, certain of these organizations are participants in or advisors to participants in the oil and gas industry, and they may present information in a manner that is more favourable to the industry than would be presented by an independent source. Actual outcomes may vary materially from those forecast in such reports or publications and the prospect for material variation can be expected to increase as the length of the forecast period increases. While the Corporation believes this data to be reliable, market and industry data are subject to variations and cannot be verified with complete certainty due to limits on the availability and reliability of raw data, the voluntary nature of the data gathering process and other limitations and uncertainties inherent in any statistical survey. The Corporation has not independently verified any of the data from third party sources referred to herein or ascertained the underlying assumptions relied upon by such sources. • Resource Disclosures • The term “boe” (i.e. barrel of oil equivalent) may be misleading, particularly if used in isolation. A boe conversion rate of six thousand cubic feet of natural gas per barrel of oil (6mcf: 1 bbl) is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the well head. • The estimates of resources presented herein are arithmetic sums of multiple estimates of remaining recoverable resources (unrisked), which statistical principles indicate may be misleading as to volumes that may actually be recovered. Readers should give attention to the estimates of individual classes of resources and appreciate the differing probabilities of recovery associated with each class. Estimates of remaining recoverable resources (unrisked) include prospective resources that have not been adjusted for risk based on the chance of discovery or the chance of development and contingent resources that have not been adjusted for risk based on the chance of development. It is not an estimate of volumes that may be recovered. Actual recovery is likely to be less and may be substantially less or zero. Reference to “gross” refer to working interest before royalties. There is no certainty that any portion of the prospective resources will be discovered. If discovered, there is no certainty that it will be commercially viable to produce any portion of the prospective resources. There is no certainty that it will be commercially feasible to produce any portion of the contingent resources.