Forent Energy Ltd.

Forent Energy Ltd.

May 21, 2009 06:00 ET

Forent Energy Ltd. Adds to Western Canadian Production

CALGARY, ALBERTA--(Marketwire - May 21, 2009) - Forent Energy Ltd. (TSX VENTURE:FEN) ("Forent" or "the Company") is pleased to announce that it has recently added over 50 BOE/d of production, as a result of tieing in the Ferrybank 8-32 natural gas well, first referenced in the Company's February 12, 2009 press release. The well has been tied in directly to the AltaGas high pressure pipeline bypassing the local field gathering system. The well has achieved a steady flow rate this month at over 700 mcf/d, against 475 psi line pressure. Provision has been made to add compression to this site to increase the production rate when natural gas prices recover from their current levels. Forent is the operator of this property and has a 45% working interest.

The Company is also pleased to report the recent successful drilling, completion and testing of a central Alberta natural gas well in which the Company has a 10.5% interest. The well flowed at a rate of 1.1 mmcf/d on a recent 3-day test. The well will be tied in, in conjunction with a multi well pipeline program which will be initiated when gas prices strengthen.

The additional production is the result of the Company's focus on adding low risk Western Canadian production to further strengthen its financial position. Immediate efforts will focus on increasing the Company's oil production through a series of possible farm-ins and joint ventures on oil prone lands located in Western Canada.

The increased revenues from the 8-32 well will assist Forent to advance the development of its core assets in Eastern Canada. Forent is the largest on-shore oil and natural gas license holder in Nova Scotia with exploration licenses on more than 1.2 million acres consisting of the Alton Block (740,000 acres) and the Beech Hill Block (466,000 acres). The Company has identified an extensive inventory of oil and natural gas opportunities on the Alton Block, including a significant Horton shale gas resource play, as well as conventional Gays River carbonate oil & natural gas targets. Forent's Nova Scotia properties are bisected by the Maritimes & Northeast natural gas pipeline providing direct access to market for natural gas developments in the area. The region also offers access to oil refineries for the processing of any future crude oil discoveries.

Shares of Forent initiated trading on the TSX Venture Exchange on December 30, 2008 under the symbol "FEN". For more information about the Company and its prospects, go to

The term barrels of oil equivalent ("BOE") may be misleading, particularly if used in isolation. In accordance with NI 51-101, a BOE conversion ratio of six thousand cubic feet per barrel (6mcf/bbl) of natural gas to barrels of oil equivalence is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. All BOE conversions herein are derived from converting gas to oil in the ratio mix of six thousand cubic feet of gas to one barrel of oil.

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 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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