Pennant Announces Private Placement

Pennant Energy Inc. (TSX VENTURE:PEN) ("Pennant" or the "Company") announces
that, subject to regulatory approval, it will be conducting a non-brokered
private placement of unsecured convertible debentures (each, a "Convertible
Debenture") in the aggregate principal amount of up to $500,000 (the
"Offering"). Each Convertible Debenture will be convertible into common shares
(each, a "Share") of the Company. The Company will issue 20,000 share purchase
warrants (each, a "Warrant") for each $1,000 of principal amount of each
Convertible Debenture. Each Warrant will entitle the holder to purchase one
Share at a price of $0.05 per Share for a period of two years. The Convertible
Debentures mature eighteen (18) months from the date of the closing of the
Offering (the "Maturity Date") and bear interest at the rate of 18% per annum
payable on the Maturity Date. 


At any time at the option of the holder, the principal amount of each
Convertible Debenture will be convertible into Shares at a price of $0.05 per
Share during the first 12 months after issuance and at a price of $0.10 per
Share thereafter until the Maturity Date and any accrued but unpaid interest
thereon will be convertible into Shares at the price per Share which is equal to
the Market Price (as defined in the policies of the TSX Venture Exchange) at the
time of conversion. 


Each Convertible Debenture will be pre-payable at the election of the Company in
an amount equal to the principal amount, any accrued but unpaid interest and a
penalty equal to three months interest (the "Prepayment Amount"). If the Company
disposes of its Bigstone Project, then the Company will be required to repay all
of the Convertible Debentures in an amount equal to the Prepayment Amount within
ten (10) days of the completion of such sale. 


The Company will pay a cash finder's fees or broker's commissions of 8% payable
in connection with the Offering. 


The proceeds of the Offering will be used by the Company to pay for its share of
the costs of the first Success formation well to be drilled at its new oil
exploration project located in the Mantario area of west-central Saskatchewan in
the fourth quarter of 2013, and for general working capital.


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 POLCIEIS 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]