Pennant Announces Grant of Stock Options

Pennant Energy Inc. (TSX VENTURE:PEN) ("Pennant" or the "Company") announces
today that it has granted stock options to certain of its directors and officers
and to its investor relations consultant to purchase a total of 3,000,000 common
shares of the Company pursuant to the terms of the Company's stock option plan.
All of the options are exercisable at a price of $0.05 per share until October
16, 2018. The options granted to the investor relations consultant are subject
to vesting restrictions pursuant to which 20% of such options vested at the time
of grant and 20% will vest every three months thereafter. All other options
vested immediately at the time of grant.


The Company also announces that it has amended the terms of an aggregate of
500,000 options granted to James Britton, a director of the Company, between
June 2010 and May 2012. The options were originally granted with exercise prices
ranging from $0.10 to $0.25 per share and were to expire five years from the
respective dates of grant. The Company has determined to reduce the exercise
prices of all such options to $0.05 per share and to extend the expiration date
of all such options to October 16, 2018. The amendments are subject to the
approval of the TSX Venture Exchange (the "Exchange") and the approval of the
disinterested shareholders of the Company, which will be sought at its annual
and special general meeting scheduled for November 19, 2013. Mr. Britton and his
Associates (as defined in the policies of the Exchange) will be excluded from
voting on the amendments to the terms of Mr. Britton's options.


About Pennant

The Mantario Project is comprised of a total of 1,440 acres (net 432 acres) in
West Central Saskatchewan. Multiple oil drilling locations have been identified
based on the 3D technical review. 


Pennant's Bigstone Project is comprised of lands and licenses covering a total
of 5,120 acres (net 1,120 acres), in Township 60, ranges 22 and 23W5 at
Bigstone, Alberta. By completing the terms of a farm in agreement with
Donnybrook Energy Inc., Pennant earned 25 per cent of Donnybrook's interest in
the Bigstone lands and in any future operations within an area of mutual
interest.


PENNANT ENERGY INC.

Garth Braun, President & CEO   

NEITHER 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: 
Pennant Energy Inc.
Doren Quinton
[phone]
[e-mail]