Forent Energy Ltd.

Forent Energy Ltd.

April 30, 2009 21:00 ET

Forent Energy Ltd. Files 2008 Year End Documents, NI 51-101 Forms and Grants Stock Options

CALGARY, ALBERTA--(Marketwire - April 30, 2009) - Forent Energy Ltd. (TSX VENTURE:FEN) ("Forent" or "the Company") announced today it has filed its audited Consolidated Financial Statements and Management's Discussion & Analysis for the period ending December 31, 2008, with applicable securities regulatory authorities in Canada. Copies of these documents can be accessed under the Company's profile on the SEDAR website at and on the Company's website

In addition, Forent has filed its Form 51-101F1 - Statement of Reserves Data and Other Oil and Gas Information; Form 51-101F2 - Report on Reserves Data by Independent Qualified Reserves Evaluator; and Form 51-101F3 - Report of Management and Directors on Oil and Gas Disclosure with applicable securities regulators in Canada under National Instrument 51-101, Standards of Disclosure for Oil and Gas Activities. Such filings can also be accessed electronically from the SEDAR website at

The Company also announced today that, pursuant to its stock option plan, it has granted options to acquire up to an aggregate of 765,000 common shares of Forent to certain directors, officers and employees of the Company. Each of the options is exercisable for a five year term expiring on April 29, 2014, and exercisable until that time at a price of $0.25 per common share. One-third of the options vest immediately upon the date of grant with an additional one-third to vest on each of the first and second anniversary dates from the date of grant. The options are subject to a four month hold period expiring August 30, 2009.

Forent is the largest on-shore oil and gas license holder in the province of Nova Scotia with exploration licenses on more than 1.2 million acres consisting of the Alton (740,000 acres) and the Beech Hill (466,000 acres) Blocks. 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 & gas targets. Forent's Nova Scotia properties are bisected by the Maritimes & Northeast natural gas pipeline providing direct access to market for gas developments. The region also offers access to oil refineries to process any future crude oil discoveries. In addition, the Company is actively pursuing oil and gas opportunities in western Canada.

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

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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