Forent Energy Ltd.
TSX VENTURE : FEN

Forent Energy Ltd.

January 26, 2011 07:00 ET

Forent Energy Operations Update

CALGARY, ALBERTA--(Marketwire - Jan. 26, 2011) - Forent Energy Ltd. ("Forent" or the "Company") (TSX VENTURE:FEN) is pleased to provide the following update on its operations in Western Canada and Nova Scotia.

The Company is presently injecting approximately 1,600 bbls per day of produced water into its recently completed Mervin, Saskatchewan salt water disposal well, from the six producing oil wells in the field. The well was completed to inject water into the Dina formation and has a capacity to handle more than 9,000 bbls of produced water per day. The Company anticipates savings of approximately $40,000 per month, increasing to $60,000 per month once all producing wells are tied into the water injection well later this year. 

Forent plans to increase the production from its Mervin wells now that it is no longer incurring third party water disposal costs. In addition, the Company intends to drill a second well in the Lloydminster area (net 50%), which is expected to spud mid-February

Forent's average December production was approximately 350 boe/d of which about two thirds was oil and NGL's. 

The Company successfully completed a 23 section 3D seismic acquisition program at its Montgomery property, west of Claresholm, Alberta and is currently processing the data in order to identify multi zone prospects for both light oil and sweet gas.

In Nova Scotia, the gravity gradiometry data that was acquired last Fall has been processed and the Company expects to complete its interpretation of this information by the middle of February.

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 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.

Contact Information