Pennant Energy Inc.
TSX VENTURE : PEN

Pennant Energy Inc.

October 13, 2005 10:18 ET

Pennant Energy Inc.: Two More Daly Field Wells Completed

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 13, 2005) - Pennant Energy Inc. (TSX VENTURE:PEN) is pleased to announce two oil wells in the Daly field, Manitoba were completed in the Lodgepole and Bakken formations during the last week. The operator, Rideau Petroleums Ltd. has informed the Company pump jacks and flow lines will be installed within the next 3 weeks, weather permitting. The two wells are part of an eight well drilling program announced by the Company in early 2004. Participation calls for the Company to pay 25% of the costs to drill and complete each well to earn a 22.0% working interest before payout reverting to 15.0% after payout. The Company continues to evaluate further development opportunities in the Daly field area.

For further information on any of our projects please feel free to contact the company at 604-689-1799 or visit our web site at www.pennantenergy.com

ON BEHALF OF THE BOARD OF DIRECTORS OF PENNANT ENERGY INC.

Mr. Thomas Yingling, President - Director

This News Release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results.


The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information