Table of Contents Table of Contents 2 List of Tables 4 List of Figures 5 Company Snapshot 7 Key Information 7 Company Overview 7 Forent Energy Ltd., Valuation and Financial Data 8 Forent Energy Ltd., Share Price Performance 8 Share Price Performance, Q1, 2015-Q1, 2016 8 Forent Energy Ltd., Key Valuation Metrics 9 Key Valuation Metrics, Q1, 2015-Q1, 2016 9 Forent Energy Ltd., Quarterly Results of Oil & Gas Operations Per boe Produced 10 Results of Oil & Gas Operations Per boe Produced, Q1, 2015-Q1, 2016 10 Results of Oil & Gas Operations Per boe Growth Rates, Q1, 2015-Q1, 2016 11 Forent Energy Ltd., Quarterly E&P Costs Trends 12 Upstream Capital Expenditure, Q1, 2015-Q1, 2016 12 Forent Energy Ltd., Quarterly Production Trends 13 Forent Energy Ltd., Total Oil and Gas Production 13 Total Crude Oil and Natural Gas Production Trend, Q1, 2015-Q1, 2016 13 Total Crude Oil & Natural Gas Production, By Country/Region, Q1, 2015-Q1, 2016 14 Forent Energy Ltd., Crude Oil Production 15 Total Crude Oil Production Trend, Q1, 2015-Q1, 2016 15 Crude Oil Production, By Country/Region, Q1, 2015-Q1, 2016 16 Forent Energy Ltd., Natural Gas Production 17 Total Natural Gas Production Trend, Q1, 2015-Q1, 2016 17 Natural Gas Production, By Country/Region, Q1, 2015-Q1, 2016 18 Forent Energy Ltd., Valuation and Financial Data, 2011-2015 19 Forent Energy Ltd., Share Price Performance, 2011-2015 19 Share Price Performance, 2011-2015 19 Key Valuation Metrics, 2011-2015 20 Forent Energy Ltd., Production and Reserves Trends 21 Total Oil and Gas, Reserves and Production 21 Total Crude Oil and Natural Gas Production and Reserves Trend, 2011-2015 21 Total Crude Oil & Natural Gas Production and Reserves By Country/Region, 2011-2015 23 Total Crude Oil and Natural Gas Reserve Changes, 2011-2015 25 Crude Oil/Liquids Production and Reserve 26 Crude Oil/Liquids Production and Reserve Trend, 2011-2015 26 Crude Oil Production and Reserves By Country/Region, 2011-2015 27 Crude Oil/Liquids Reserve Changes, 2011-2015 29 Natural Gas Production and Reserve 30 Natural Gas Production and Reserve Trend, 2011-2015 30 Natural Gas Production and Reserves, By Country/Region, 2011-2015 31 Natural Gas Reserve Changes, 2011-2015 33 Total Crude Oil and Natural Gas Reserves Life Index 34 Total Crude Oil and Natural Gas Reserves Life Index, 2011-2015 34 Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region, 2011-2015 35 Forent Energy Ltd., E&P Costs Trends 37 Allocation of the Upstream Capital Expenditure 37 Upstream Capital Expenditure, 2011-2015 37 Acquisition Costs By Country/Region, 2011-2015 38 Exploration and Development Costs, By Country/Region, 2011-2015 40 Oil and Gas Cost Per boe, US$/boe 42 Oil and Gas Cost Per boe, US$/boe, 2011-2015 42 Oil and Gas Cost Per boe, US$/boe, By Country/Region, 2011-2015 44 Forent Energy Ltd., Reserve Replacement Ratio 46 Oil and Gas Production Replacement Ratio 46 Oil and Gas Production Replacement Ratio, 2011-2015 46 Oil and Gas Production Replacement Ratio, By Country/Region, 2011-2015 48 Forent Energy Ltd., Results of Oil & Gas Operations Trend 52 Oil and Gas Revenue and Expenses 52 Oil and Gas Revenue and Expenses, 2011-2015 52 Oil and Gas Revenue and Expenses, By Country/Region, 2011-2015 53 Oil and Gas Revenue and Expenses, Per boe 58 Oil and Gas Revenue and Expenses, By boe, 2011-2015 58 Oil and Gas Revenue and Expenses Per boe, By Country/Region, 2011-2015 59 Oil and Gas Performance Metrics 63 Well Statistics 64 Producible Oil and Gas Well, 2011-2015 64 Producible Oil and Gas Well, By Country/Region, 2011-2015 65 Recent Developments 67 Forent Energy Ltd. - Recent Developments 67 Jul 21, 2016: Perisson Petroleum To List On The TSX Venture Exchange 67 May 26, 2016: Forent Energy Provides Interim Consolidated Financial Statements For The Period Ended March 31, 2016 67 May 03, 2016: Perisson Petroleum Announces Debenture Unit Financing, Filing Of 2015 Annual Financial Statements And Operational Update 71 Nov 27, 2015: Forent Energy Announces Q3 2015 Financial And Operating Results 73 Aug 28, 2015: Forent Energy Announces Q2 2015 Financial And Operating Results 74 May 28, 2015: Forent Energy Announces Q1 2015 Financial And Operating Results 75 Apr 30, 2015: Forent Energy Announces 2014 Financial And Operating Results And Filing Of NI 51-101 Annual Reserve Report 76 Mar 09, 2015: Forent Energy Announces 2014 Reserves 78 Appendix 79 Methodology 79 Coverage 79 Secondary Research 79 Primary Research 79 Data Information Sources 80 Company Source 80 SEC/Other Regulatory Filings 80 Other Sources 80 Expert Panel Validation 80 Data Definition 80 Oil and Gas Reserves 80 Units of Measure 81 About GlobalData 81 Disclosure 81 Disclaimer 81

List of Tables Table 1: Forent Energy Ltd., Key Facts 7 Table 2: Forent Energy Ltd., Share Price Performance, Q1, 2015-Q1, 2016 8 Table 3: Forent Energy Ltd., Key Valuation Metrics, Q1, 2015-Q1, 2016 9 Table 4: Forent Energy Ltd., Results of Oil & Gas Operations Per boe Produced, US$/boe, Q1, 2015-Q1, 2016 10 Table 5: Forent Energy Ltd., Results of Oil & Gas Operations Per boe Growth Rates, %, Q1, 2015-Q1, 2016 11 Table 6: Forent Energy Ltd., Upstream Capital Expenditure, Q1, 2015-Q1, 2016 12 Table 7: Forent Energy Ltd., Total Crude Oil and Natural Gas, Production, Q1, 2015-Q1, 2016 13 Table 8: Forent Energy Ltd., Total Oil & Gas Production, By Country/Region, mmboe, Q1, 2015-Q1, 2016 14 Table 9: Forent Energy Ltd., Total Crude Oil Production, mmbbl, Q1, 2015-Q1, 2016 15 Table 10: Forent Energy Ltd., Crude Oil Production, By Country/Region, mmbbl, Q1, 2015-Q1, 2016 16 Table 11: Forent Energy Ltd., Total Natural Gas Production, bcf, Q1, 2015-Q1, 2016 17 Table 12: Forent Energy Ltd., Natural Gas Production, By Country/Region, bcf, Q1, 2015-Q1, 2016 18 Table 13: Forent Energy Ltd., Share Price Performance, 2011-2015 19 Table 14: Forent Energy Ltd., Key Valuation Metrics, 2011-2015 20 Table 15: Forent Energy Ltd., Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2011-2015 22 Table 16: Forent Energy Ltd., Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, mmboe, 2011-2015 24 Table 17: Forent Energy Ltd., Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2011-2015 25 Table 18: Forent Energy Ltd., Crude Oil Production and Reserves Metrics, mmbbl, 2011-2015 26 Table 19: Forent Energy Ltd., Crude Oil Production and Reserves, By Country/Region, mmbbl, 2011-2015 28 Table 20: Forent Energy Ltd., Crude Oil Reserve Changes, mmbbl, 2011-2015 29 Table 21: Forent Energy Ltd., Natural Gas Production and Reserves Metrics, bcf, 2011-2015 30 Table 22: Forent Energy Ltd., Natural Gas Production and Reserves, By Country/Region, bcf, 2011-2015 32 Table 23: Forent Energy Ltd., Natural Gas Reserve Changes, bcf, 2011-2015 33 Table 24: Forent Energy Ltd., Oil and Gas Reserves Life Index, Years, 2011-2015 34 Table 25: Forent Energy Ltd., Oil and Gas Reserves Life Index, By Country/Region, Years, 2011-2015 36 Table 26: Forent Energy Ltd., Upstream Capital Expenditure, US$ mil, 2011-2015 37 Table 27: Forent Energy Ltd., Proved and Unproved Acquisition Costs, By Country/Region, US$ mil, 2011-2015 39 Table 28: Forent Energy Ltd., Exploration and Development Costs, By Country/Region, US$ mil, 2011-2015 41 Table 29: Forent Energy Ltd., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2011-2015 43 Table 30: Forent Energy Ltd., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, By Country/Region, 2011-2015 45 Table 31: Forent Energy Ltd., Oil and Gas Production Replacement Ratio, %, 2011-2015 47 Table 32: Forent Energy Ltd., 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 2011-2015 51 Table 33: Forent Energy Ltd., Revenue and Expenses, US$ mil, 2011-2015 52 Table 34: Forent Energy Ltd., Revenue and Expenses, By Country/Region, US$ mil, 2011-2015 57 Table 35: Forent Energy Ltd., Oil and Gas Revenue and Expenses, US$/boe, 2011-2015 58 Table 36: Forent Energy Ltd., Oil and Gas Revenue and Expenses, US$/boe, By Country/Region, 2011-2015 62 Table 37: Forent Energy Ltd., Oil and Gas Performance Metrics, 2011-2015 63 Table 38: Forent Energy Ltd., Producible Oil and Gas Wells, 2011-2015 64 Table 39: Forent Energy Ltd., Producible Oil and Gas Wells, By Country/Region, 2011-2015 66 List of Figures Figure 1: Forent Energy Ltd., Share Price Performance, CAD/Share, Q1, 2015-Q1, 2016 8 Figure 2: Forent Energy Ltd., Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve ($/boe), Q1, 2015-Q1, 2016 9 Figure 3: Forent Energy Ltd., Results of Oil & Gas Operations Per boe Produced, US$/boe, Q1, 2015-Q1, 2016 10 Figure 4: Forent Energy Ltd., Upstream Capital Expenditure, US$ mil, Q1, 2015-Q1, 2016 12 Figure 5: Forent Energy Ltd., Total Crude Oil and Natural Gas, Production, mmboe, Q1, 2015-Q1, 2016 13 Figure 6: Forent Energy Ltd., Total Oil & Gas Production, By Country/Region, mmboe, Q1, 2015-Q1, 2016 14 Figure 7: Forent Energy Ltd., Total Crude Oil Production, mmbbl, Q1, 2015-Q1, 2016 15 Figure 8: Forent Energy Ltd., Crude Oil Production, By Country/Region, mmbbl, Q1, 2015-Q1, 2016 16 Figure 9: Forent Energy Ltd., Total Natural Gas Production, bcf, Q1, 2015-Q1, 2016 17 Figure 10: Forent Energy Ltd., Natural Gas Production, By Country/Region, bcf, Q1, 2015-Q1, 2016 18 Figure 11: Forent Energy Ltd., Share Price Performance, CAD/Share, 2011-2015 19 Figure 12: Forent Energy Ltd., Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve (US$/boe), 2011-2015 20 Figure 13: Forent Energy Ltd., Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2011-2015 21 Figure 14: Forent Energy Ltd., Total Oil & Gas Reserves, End of Period, By Country/Region, mmboe, 2011-2015 23 Figure 15: Forent Energy Ltd., Total Oil & Gas Production, By Country/Region, mmboe, 2011-2015 23 Figure 16: Forent Energy Ltd., Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2015 25 Figure 17: Forent Energy Ltd., Crude Oil Production and Reserves Metrics, mmbbl, 2011-2015 26 Figure 18: Forent Energy Ltd., Oil Reserves, End of Period, By Country/Region, mmbbl, 2011-2015 27 Figure 19: Forent Energy Ltd., Oil Production, By Country/Region, mmbbl, 2011-2015 27 Figure 20: Forent Energy Ltd., Crude Oil Reserve Changes, mmbbl, 2015 29 Figure 21: Forent Energy Ltd., Natural Gas Production and Reserves Metrics, bcf, 2011-2015 30 Figure 22: Forent Energy Ltd., Gas Reserves, End of Period, By Country/Region, bcf, 2011-2015 31 Figure 23: Forent Energy Ltd., Gas Production, By Country/Region, bcf, 2011-2015 31 Figure 24: Forent Energy Ltd., Natural Gas Reserve Changes, bcf, 2015 33 Figure 25: Forent Energy Ltd., Oil and Gas Reserves Life Index, Years, 2011-2015 34 Figure 26: Forent Energy Ltd., Gas Reserve Life Index, By Country/Region, Years, 2011-2015 35 Figure 27: Forent Energy Ltd., Oil & Gas Reserve Life Index, By Country/Region, Years, 2011-2015 35 Figure 28: Forent Energy Ltd., Oil Reserve Life Index, By Country/Region, Years, 2011-2015 36 Figure 29: Forent Energy Ltd., Upstream Capital Expenditure, US$ mil, 2011-2015 37 Figure 30: Forent Energy Ltd., Proved Acquisition Costs, By Country/Region, US$ mil, 2011-2015 38 Figure 31: Forent Energy Ltd., Unproved Acquisition Costs, By Country/Region, US$ mil, 2011-2015 38 Figure 32: Forent Energy Ltd., Development Costs, By Country/Region, US$ mil, 2011-2015 40 Figure 33: Forent Energy Ltd., Exploration Costs, By Country/Region, US$ mil, 2011-2015 40 Figure 34: Forent Energy Ltd., 3-Year Wt.Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2011-2015 42 Figure 35: Forent Energy Ltd., Oil & Gas Finding & Development Cost/boe, 3-Year Average, By Country/Region, US$/boe, 2011-2015 44 Figure 36: Forent Energy Ltd., Oil & Gas Finding Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2011-2015 44 Figure 37: Forent Energy Ltd., Reserve Replacement Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2011-2015 45 Figure 38: Forent Energy Ltd., 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 2011-2015 46 Figure 39: Forent Energy Ltd., 3-Year Wt. Avg. Gas F&D Production Replacement, By Country/Region, %, 2011-2015 48 Figure 40: Forent Energy Ltd., 3-Year Wt. Avg. Gas RRC Production Replacement, By Country/Region, %, 2011-2015 48 Figure 41: Forent Energy Ltd., 3-Year Wt. Avg. Oil & Gas F&D Production Replacement, By Country/Region, %, 2011-2015 49 Figure 42: Forent Energy Ltd., 3-Year Wt. Avg. Oil & Gas RRC Production Replacement, By Country/Region, %, 2011-2015 49 Figure 43: Forent Energy Ltd., 3-Year Wt. Avg. Oil F&D Production Replacement, By Country/Region, %, 2011-2015 50 Figure 44: Forent Energy Ltd., 3-Year Wt. Avg. Oil RRC Production Replacement, By Country/Region, %, 2011-2015 50 Figure 45: Forent Energy Ltd., Revenue and Expenses, US$ mil, 2011-2015 52 Figure 46: Forent Energy Ltd., Depreciation, Depletion and Amortization From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 53 Figure 47: Forent Energy Ltd., Exploration Expenses, By Country/Region, US$ mil, 2011-2015 53 Figure 48: Forent Energy Ltd., Income Tax Provision (Benefit) From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 54 Figure 49: Forent Energy Ltd., Net Income/ Loss From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 54 Figure 50: Forent Energy Ltd., Oil & Gas Revenue, By Country/Region, US$ mil, 2011-2015 55 Figure 51: Forent Energy Ltd., Profit (loss) Before Taxation From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 55 Figure 52: Forent Energy Ltd., Production Costs, By Country/Region, US$ mil, 2011-2015 56 Figure 53: Forent Energy Ltd., Total Expenses From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 56 Figure 54: Forent Energy Ltd., Oil and Gas Revenue and Expenses, US$/boe, 2011-2015 58 Figure 55: Forent Energy Ltd., Exploration Expenses per boe, By Country/Region, US$/boe, 2011-2015 59 Figure 56: Forent Energy Ltd., Income Tax/(Benefit) per boe, By Country/Region, US$/boe, 2011-2015 59 Figure 57: Forent Energy Ltd., Lifting Cost per boe, By Country/Region, US$/boe, 2011-2015 60 Figure 58: Forent Energy Ltd., Annual Net Income per boe, By Country/Region, US$/boe, 2011-2015 60 Figure 59: Forent Energy Ltd., Oil & Gas Revenue per boe, By Country/Region, US$/boe, 2011-2015 61 Figure 60: Forent Energy Ltd., Total DD&A per boe, By Country/Region, US$/boe, 2011-2015 61 Figure 61: Forent Energy Ltd., Total Revenue per boe, By Country/Region, US$/boe, 2011-2015 62 Figure 62: Forent Energy Ltd., Oil and Gas Performance Metrics, 2011-2015 63 Figure 63: Forent Energy Ltd., Producible Oil and Gas Wells, 2011-2015 64 Figure 64: Forent Energy Ltd., Gross Productive Oil & Gas Wells, By Country/Region, Number, 2011-2015 65 Figure 65: Forent Energy Ltd., Net/Gross Oil & Gas Ratio, By Country/Region, %, 2011-2015 65 Figure 66: Forent Energy Ltd., Net Productive Oil & Gas Wells, By Country/Region, Number, 2011-2015 66