Forent Energy Announces 2013 Financial and Operating Results and Filing of NI 51-101 Annual Reserve Report

Forent Energy Ltd. (TSX VENTURE:FEN) ("Forent" or the "Company") is pleased to
announce that it has filed its audited Financial Statements and Management's
Discussion & Analysis, for the period ending December 31, 2013, with applicable
securities regulatory authorities in Canada. Copies of these documents can be
accessed under the Company's profile on the SEDAR website at www.sedar.com and
on the Company's website www.forentenergy.com.


In addition, Forent's board of directors has accepted the 2013 year end reserves
report, prepared by McDaniel & Associates Consultants Ltd. ("McDaniel"). The
Company has filed with applicable securities regulators in Canada under National
Instrument 51-101, Standards of Disclosure for Oil and Gas Activities 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 www.sedar.com. 


Overview of 2013

2013 represented a significant transition year for Forent Energy. During the
first quarter, we successfully concluded the sale of our Mervin heavy oil asset.
This resulted in the elimination of the significant working capital deficiency
that had accumulated due to impaired production at Mervin. 


In the second quarter, the first well at Montgomery was completed in both the
Second White Speckled Shale formation and Lower Mannville group. Both intervals
recovered hydrocarbons and provided additional data to high-grade future
exploration potential on this significant land holding. Also during the second
quarter, Forent successfully abandoned our final standing wellbore in Nova
Scotia, completing all of our operational obligations on the Alton Block.


During the third quarter, we successfully identified, negotiated, and conducted
economic and environmental due diligence on our most significant asset
acquisition to-date. The acquired producing properties are low decline oil
weighted assets, with favorable netbacks and significant development
opportunities. These production assets will provide a solid basis for our near
term growth. The acquisition closed in October 2013.


In the fourth quarter, Forent was also successful in acquiring 26 sections of
mineral rights in an area of central Alberta with proven hydrocarbon potential.
This new land block represents an opportunity for intermediate term growth
through exploration in an area with existing infrastructure and multi-zone
potential at depths of less than 1500m. 


Over the course of 2013, Forent has continued to evaluate our longer-term,
high-impact exploration prospects and has cleaned up our existing asset base.
More importantly, the Company has increased proven plus probable reserves by
over 10 times, added the oil production and reserves necessary to provide
corporate cash flow and is now well positioned for steady future growth.


Q4 2013 acquisition

As mentioned above, in October of 2013, Forent closed on the acquisition of
predominately oil producing assets in central Alberta for consideration of
$6,800,000 cash and 10,000,000 common shares valued at $0.08 per share. The
acquired properties exhibit low declines, have long reserve life indexes, and
are largely operated. Significant development potential exists on all of these
properties, including both horizontal and vertical oil development drilling
locations and facility upgrades and optimization. Activity in these areas will
continue to be a focus for Forent during 2014. 


Operations

Q4 2013 saw the successful integration of our newly acquired properties into
Forent. Forent now has four main producing areas, of which three are oil and one
natural gas, and all are within 400 km of our corporate head office. The Company
operates two main central oil treating facilities and one central gas gathering,
compression and dehydration facility.


Financing

In February 2013, Forent closed a $1,500,000 non-brokered private placement.
Forent issued 30,000,000 common shares in the capital of the Company at a price
of $0.05 per Common Share. 74% of the Offering (22,300,000 common shares) was
purchased by directors, officers, employees, consultants and affiliates of the
Company. 


In December 2013, Forent also closed on a non-brokered private placement basis
the issue of 6,050,000 flow-through common shares, sold at a price of $0.10 per
common share, for gross proceeds of $605,000. Insiders, including W. Brett
Wilson, the Company's Chairman, purchased 3,850,000 flow-through shares in the
private placement (64% of the offering). 


Reserves and Production

The acquisition in Q4 2013 increased both the reserves and corporate value of
the Company. In 2012, Forent closed the year with 111 Mboe of gross total proved
natural gas reserves and 143 Mboe of gross proved + probable reserves. During
2013, Forent increased reserves and closed the year with 1081 Mboe of total
proved reserves (81% oil + liquids) and 1,570 Mboe gross proved + probable
reserves (78% oil and liquids). 


Overall reserves were increased by 876% on a gross proven basis and 998% on
gross proven + probable.




----------------------------------------------------------------------
Company Gross (1)Reserves (Before Royalty)                            
Comparison of Reserves as at December 31, 2013 and 2012               
Forecast Prices and Costs                                             
----------------------------------------------------------------------
                                Oil and                               
                     Natural Gas Liquids                   Natural Gas
          ------------------------------------------------------------
                                   Gross                         Gross
                                  Proved                        Proved
               Gross     Gross      Plus     Gross     Gross      Plus
              Proved  Probable  Probable    Proved  Probable  Probable
              (Mbbl)    (Mbbl)    (Mbbl)    (MMcf)    (MMcf)    (MMcf)
----------------------------------------------------------------------
Dec 31,                                                               
 2012            2.6       0.6       3.2       649       190       839
----------------------------------------------------------------------
Dec 31,                                                               
 2013          876.8     350.4    1227.1      1226       829      2054
----------------------------------------------------------------------
Change         874.2     349.8    1223.9       577       639      1215
----------------------------------------------------------------------
% increase                                                            
----------------------------------------------------------------------

----------------------------------------------------------------------------
Company Gross (1)Reserves (Before Royalty)                                  
Comparison of Reserves as at December 31, 2013 and 2012                     
Forecast Prices and Costs                                                   
----------------------------------------------------------------------------
                                  BOE(6:1)                    Btax NPV10(2) 
          ------------------------------------------------------------------
                                     Gross                            Gross 
                                    Proved                           Proved 
               Gross      Gross       Plus      Gross      Gross       Plus 
              Proved   Probable   Probable     Proved   Probable   Probable 
              (Mboe)     (Mboe)     (Mboe)      (MM$)      (MM$)      (MM$) 
----------------------------------------------------------------------------
Dec 31,                                                                     
 2012          110.8       32.3        143        0.8        0.3        1.1 
----------------------------------------------------------------------------
Dec 31,                                                                     
 2013         1081.1      488.5       1570       15.2        6.2       21.4 
----------------------------------------------------------------------------
Change         970.3      456.2     1426.5       14.4        5.9       20.3 
----------------------------------------------------------------------------
% increase       876%     1,412%       998%     1,800%     1,967%     1,845%
----------------------------------------------------------------------------



(1) Gross reserves are the Company's working interest reserves before
calculation of royalties, and before the consideration of the Company's royalty
interest. 


(2) The estimated values disclosed do not represent fair market value 

(3) Totals may not add due to rounding.

During the first three quarters of 2013, Forent's legacy production averaged 58
boe/d of predominately dry gas. In Q4 2013, our total production more than
tripled to 204 boe/d (approx. 60% oil & liquids) with the majority of the
increase resulting from the addition of three oil producing properties that were
acquired on October 4, 2013.


Ongoing Exploration

In 2013, the first well on the Montgomery block was completed and produced light
sweet oil from the Second White Speckled Shale formation (2WS). The Lower
Mannville group was also completed and tested sweet natural gas after
stimulation. While it is not anticipated that this initial test well will come
on production in the near future, two play types that Forent had identified on
the lands were validated with these hydrocarbon recoveries. Forent intends to
continue to evaluate both of these plays in addition to other geophysical
anomalies identified on our proprietary 3-D seismic survey at Montgomery.


In Q4 2013, Forent was successful in acquiring 26 sections of Crown land within
our south central Alberta core area. We hold all petroleum and natural gas
rights from surface to basement for a term of 5 years. These lands are
prospective for Cretaceous oil and gas at depths of less than 1200m and
Mississippian targets at less than 1500m. During 2014, Forent intends to further
evaluate these lands both geophysically and geologically.


In Q1 2014, the second exploration well "Forent et al DD14-12-012-29W4", was
spud and was successfully drilled to the base of the 2WS. The well was completed
with a small acid job, in an attempt to clean up drilling damage that may have
occurred, swabbed down to formation depth and bottom hole recorders were run in
order to measure the formation pressure build up. No formation inflow was noted
into the wellbore while swabbing operations were occurring. The recorders have
been recovered and the reservoir pressure build up is currently being analyzed
to determine the production potential of this wellbore. 


In April 2014, Forent elected not to submit a work commitment to renew the Alton
block in Nova Scotia. Once the regulatory requirements around hydrocarbon
resource stimulation in the province are better identified and a joint venture
partner has been identified, Forent will have the opportunity to re-nominate
these lands and make a meaningful work commitment that will enable the
development of the block.


2014 Outlook

Forent will be executing a 3 well infill development drilling program at
Twining, immediately after local road bans have been removed from access roads.
We are planning to grow our oil and associated gas production to over 300 boe/d
by the end of 2014 through the drilling of low risk, development wells within
our current asset base.


Several development strategies for the Wayne property are under review with
Forent's partner in the area, Forent hopes to be able to firm up a drilling
schedule with its partner during the second half of 2014 for up to three new
horizontal wells.


At Provost, the Company has identified a number of infill horizontal heavy oil
development locations. Currently the facilities at Provost are restricted by
water handling capacity. Forent has proposed an expansion of water handling
capabilities at the battery to facilitate increased oil production with our
working interest partners. Once approvals have been obtained from our partners,
Forent will proceed with equipment installation.


Forent also continues to evaluate oil and natural gas acquisition opportunities
and potential corporate mergers in order to provide increased per share growth
for our Shareholders.


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

ADVISORY: Certain information in this news release, including the operations at
the Company's, Twining and Montgomery properties, constitute forward-looking
statements under applicable securities laws. Although Forent believes that the
expectations reflected in these forward looking statements are reasonable, undue
reliance should not be placed on them because Forent can give no assurance that
they will prove to be correct. Since forward looking statements address future
events and conditions, by their very nature they involve inherent risks and
uncertainties. The forward-looking statements contained in this news release are
made as at the date of this news release and the Corporation does not undertake
any obligation to update publicly or to revise any of the included
forward-looking statements, whether as a result of new information, future
events or otherwise, except as may be required by applicable securities laws.


This release includes certain statements that may be deemed "forward-looking
statements". All statements in this release, other than statements of historical
facts, that address future production, reserve potential, exploration drilling,
exploitation activities and events or developments that the Company expects are
forward-looking statements. Although the Company believes the expectations
expressed in such forward looking statements are based on reasonable
assumptions, such statements are not guarantees of future performance and actual
results or developments may differ materially from those in the forward-looking
statements. Factors that could cause actual results to differ materially from
those in forward looking statements include market prices, exploitation and
exploration successes, continued availability of capital and financing, and
general economic, market or business conditions. Investors are cautioned that
any such statements are not guarantees of future performance and those actual
results or developments may differ materially from those projected in the
forward-looking statements. For more information on the Company, Investors
should review the Company's registered filings which are available at
www.sedar.com. 


This news release shall not constitute an offer to sell or the solicitation of
any offer to buy, nor shall there be any sale of these securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful. The
securities offered have not been and will not be registered under the U.S.
Securities Act of 1933, as amended, and may not be offered or sold in the United
States absent registration or applicable exemption from the registration
requirements of the U.S. Securities Act and applicable state securities laws.


BOE presentation:

Barrel ("bbl") of oil equivalent ("boe") amounts may be misleading particularly
if used in isolation. All boe conversions in this report are calculated using a
conversion of six thousand cubic feet of natural gas to one equivalent barrel of
oil (6 mcf=1 bbl) and is based on an energy conversion method primarily
applicable at the burner tip and does not represent a value equivalency at the
well head.


NEITHER 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 RELEASE.


FOR FURTHER INFORMATION PLEASE CONTACT: 
FORENT ENERGY LTD.
Richard Wade
President & CEO
[phone] #211
[e-mail]


FORENT ENERGY LTD.
Brad R. Perry
CFO
[phone] #208
[e-mail]
www.forentenergy.com