Pennant Announces Plans to Drill the First Success Well at Its New Oil Exploration Project in the Mantario Area of West Centr...

Pennant Energy Inc. ("Pennant" or the "Company") (TSX VENTURE:PEN) is pleased to
announce that it plans to spud its first Success Formation well at its new oil
exploration project located in the Mantario area of West Central Saskatchewan
(the "Mantario Project") in the fourth quarter of 2013. 


The Mantario Project consists of 1,440 gross acres (net 432 acres) of P&NG
rights located approximately 21 kilometers southeast of Rock Energy Inc.'s
Mantario oil project. Pennant will earn a 30% working interest by payment of 50%
of the drilling, completing, equipping and tie-in costs of the first well. At
this time, the well is scheduled to spud from a surface location at
15d-6-26-24W3 with a total depth of 1,000 meters. 


Garth Braun, President and CEO of Pennant stated, "The Mantario Project has been
developed with an extensive due diligence process including the shooting of 960
km of 3D and the processing of 2D and 3D seismic data. The Mantario Project has
strong analogue support to Rock Energy's Mantario oil discovery that currently
has 31 wells in production. Pennant will be looking to aggressively explore and
develop this oil project." 


Pennant is also pleased to announce that it has appointed Ron Schmitz to the
board of directors and to the Company's audit committee. Mr. Schmitz is
currently the Chief Financial Officer of the Company. 


About Pennant Energy 

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.


On behalf of the board of PENNANT ENERGY INC. 

Garth Braun, Chief Executive Officer and Director

Disclaimer for Forward-Looking Information

This press release contains forward-looking information that involves various
risks and uncertainties regarding future events related to the completion and
the timing of the spud of the Company's first Success Formation well and the
productivity of such well and any other wells that may be drilled in the
Mantario Project. Such statements are subject to risks and uncertainties that
may cause actual results, performance or developments to differ materially from
those contained in the statements and are not guarantees of future performance
of the Company. No assurance can be given that any of the events anticipated by
the forward-looking statements will occur or, if they do occur, what benefits
the Company will obtain from them. These forward-looking statements reflect
management's current views and are based on certain expectations, estimates and
assumptions which may prove to be incorrect. A number of risks and uncertainties
could cause our actual results to differ materially from those expressed or
implied by the forward-looking statements, including: (1) the risk that the
Company may encounter difficulties in the drilling, completion, equipping or
tie-in, as applicable, of the first Success Formation well, including technical
difficulties, (2) the risk that the drilling of the first Success Formation well
will not result in the discovery of any quantity of petroleum and/or natural gas
or sufficient quantities to justify commercial production from such well, (3) a
continued downturn in general economic conditions in North America and
internationally, (4) the inherent uncertainties and speculative nature
associated with oil and gas exploration and production, (5) a decreased demand
for natural gas, (6) any number of events or causes which may delay or cease
exploration and development of the Company's property interests, such as
environmental liabilities, weather, mechanical failures, safety concerns and
labour problems, (7) the risk that the Company does not execute its business
plan, (8) inability to retain key employees, (9) inability to finance operations
and growth, and (10) other factors beyond the Company's control. These
forward-looking statements are made as of the date of this news release and,
except as required by law, the Company assumes no obligation to update these
forward-looking statements, or to update the reasons why actual results differed
from those projected in the forward-looking statements


THE TSX VENTURE EXCHANGE INC. HAS NEITHER APPROVED NOR DISAPPROVED THE CONTENTS
OF THIS PRESS RELEASE. 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: 
QIS Capital Corp.
Doren Quinton
[phone]
[e-mail]
www.qiscapital.com