Forent Energy Ltd.

Forent Energy Ltd.

July 21, 2011 07:00 ET

Forent Announces Completion of Nova Scotia 2D Seismic Program

CALGARY, ALBERTA--(Marketwire - July 21, 2011) - Forent Energy Ltd. (TSX VENTURE:FEN) ("Forent" or the "Company") is pleased to announce the completion of its previously announced 65 km 2D seismic program in Nova Scotia.

The seismic acquisition program was completed on Forent's Alton Block, near Cloverdale, NS. The permitting for the program was initiated in late April with the drilling and recording of data in July. Total cost of the program was under $1.1 million, well within the budget estimate. Forent intends to have the data processed and interpreted by the end of the first week of August, after which three drilling locations will be selected.

The Company plans to spend upwards of $5 million in 2011 on the Alton Block in an effort to discover and produce hydrocarbons from the Gays River reef structures identified by the 2010 gravity gradiometry survey. The Company anticipates the start of a 3 well drilling program in early October of this year, with the program finishing by the end of November. Forent hopes that this drilling program will allow it to be the first company to produce hydrocarbons on shore in Nova Scotia. As it has done with previous operations, the Company will hold an Open House in September in order to keep local residents apprised of its activities and will continue its comprehensive communications program with stakeholders, to ensure that they are well informed about its 2011 exploration program.

In Western Canada, the Company has experienced a delay in the completion of the Mervin optimization program due to surface land access issues and is now anticipating that the program will be completed by mid-September. The Company has identified a number of potential partners for its Montgomery exploration opportunity in southern Alberta and expects to finalize partner arrangements before the end of August.

Shares of Forent trade on the TSX Venture Exchange under the symbol "FEN.V".

Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements such as the estimates of reserves, the references to Forent's exploration program and drilling program and capital expenditures relating to, and timing of, such programs are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward- looking statements. There are uncertainties inherent in forward-looking information, including factors beyond Forent's control, and no assurance can be given that the programs will be completed on time, on budget or at all. In addition, there are numerous uncertainties inherent in estimating reserves, including many factors beyond Forent's control, and no assurance can be given that the indicated level of reserves or the recovery thereof will be realized. Forent undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in Forent's filings with Canadian securities regulators, which filings are available at

The term boe may be misleading, particularly if used in isolation. A boe conversion ratio of six thousand cubic feet equal to one barrel is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

The TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

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