Forent Energy Ltd.
TSX VENTURE : FEN

Forent Energy Ltd.

November 08, 2011 07:00 ET

Forent Energy Improves Mervin Cash Flow and Engages Sayer Energy Advisors to Market Its Montgomery, Alberta Exploration Opportunity

CALGARY, ALBERTA--(Marketwire - Nov. 8, 2011) - Forent Energy Ltd. (TSX VENTURE:FEN) ("Forent" or the "Company") is pleased to provide the following update on its oil exploration and development efforts in Western Canada and Nova Scotia.

The Company completed the tie-in of its salt water disposal well at Mervin, Saskatchewan last week. The operation is now fully functional with de-bugging having occurred over the past couple of weeks. Forent expects to reduce trucking costs by approximately $70,000 per month and will now take steps to increase its Mervin oil production, as a result of eliminating incremental water disposal costs. The Company has already seen an increase in third party volumes of salt water and is generating additional revenues.

As indicated previously, the Company is seeking a partner for its Montgomery, Alberta exploration opportunity and has engaged Sayer Energy Advisers to assist in identifying a partner and evaluating offers. Bids are due by November 24th. Forent expects to complete a multiple well farm-out in the fourth quarter of the year. The Company has recently completed a native grass study on a number of drilling locations as it continues to expand its program of engaging local surface land owners to ensure that any access concerns are addressed and the environmental impact is minimized. Forent holds a 100% interest in 27 contiguous sections of land approximately 30 km west of Claresholm, Alberta, which is considered highly prospective.

The Company anticipates receipt of approvals from both the Nova Scotia Department of Energy and the Department of Environment to drill three wells on the Alton Block within the next week. Forent met with members of the public in mid-October at an open house in Stewiacke, Nova Scotia to review the Company's plan for the drilling of three exploration wells later this year. The open house was an important part of the approval process with the government of Nova Scotia for the drilling of the wells. The feedback received at the open house was positive and very encouraging for our drilling program.

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

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 www.sedar.com.

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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