North American Natural Gas Markets

1. North American Natural Gas Markets September 18th 2009 J. Cameron Bailey CFA President and Chief Executive Officer

2. Historical Decline Rates US Production Declining by 30 - 35% per annum

3. US Natural Gas Directed Rig Count – Future Supply? Source: Baker Hughes

4. US Natural Gas Production - Declining USProduction Source: Bentek

5. Canadian Gas Drilling Rig Count – Future Supply? Lowest levels witnessed in 10 years Acquire and Exploit Source: Baker Hughes

6. Canadian Gas Production - Declining Canadian gas production is declining leaving less for exports to the US Acquire and Exploit Source: NEB

7. Canadian Gas Export to the United States Acquire and Exploit Source: Bentek

8. US Wellhead Prices vs US Natural Gas Rig Count Source: EIA Acquire and Exploit

9. The Growing US Supply Deficit US Average Demand

10. Forecast Gas Storage Levels – 700 Rigs Operating 3.3 TCF Storage Not enough gas production to fill storage in 2010 Acquire and Exploit

11. Natural Gas - Investment Cycle Concept Land Acquisition Permits Rig Count – Baker Hughes Rig Count Completions Pipeline Construction & Tie-in Production – Daily Estimates Six Month Delay? Acquire and Exploit

12. Delayed Production Response – Natural Gas Drilling Activity in Texas New well permits are down 73% but there still remained a large inventory of wells to complete Well completions have dropped off which will be followed by production declines Acquire and Exploit Source: Railroad Commission of Texas

13. Shale Gas Plays – Texas Barnett Shale • 10,539 Wells on Production since 2004 • 21% of Texas production • 2008 Drilling Permits issued were 4,145 representing 75% of all drilling activity in Texas • Well permits have decreased 73% YOY • Texas Production represents 33% of US total production. Acquire and Exploit

14. Texas - Natural Gas Production - Declining Acquire and Exploit Source: Railroad Commission of Texas

15. Total US Natural Gas Demand – Recession? More affected by weather than recession Source: Bentek 2009

16. Recession and Demand? – Industrial Demand Industrial demand is off 1.3 bcf/d Y/Y but has recovered Acquire and Exploit Source: Bentek 2009

17. Recession and Demand? – Power Demand Power Demand continues to be strong. Acquire and Exploit Source: Bentek 2009

18. LNG Imports - Excess Capacity Acquire and Exploit Source: Bentek 2009

19. Change in Natural Gas Inventory – Supply/Demand Balance Acquire and Exploit Source: EIA

20. Natural Gas Inventories – Awash in Gas ? The difference between surplus and critically low inventories is 500 bcf = 8 days of consumption Acquire and Exploit Source: EIA

21. Contact Information Note: This material is based on information published by independent third parties. Consequently, the Company can not assume responsibility for the accuracy or completeness of the information. Fortress Energy Inc. Suite 300, 505-3rd St. S.W. Calgary, Alberta T2P 3E6 Phone: (403)398-3345 Email: info@fortressenergy.ca Fax: (403)398-3351 Website:www.fortressenergy.caToll Free: (866) 592-6205 Investor Relations Contacts: President & CEO J. Cameron Bailey cbailey@fortressenergy.ca Chief Financial Officer Jamie Jeffs jjeffs@fortressenergy.ca