Pennant Energy Announces Plans to Spud First Horizontal Well at Its Mantario Oil Project

Pennant Energy Inc. ("Pennant" or the "Company") (TSX VENTURE:PEN) is pleased to
announce that its partner, Blackbird Energy Inc. ("Blackbird"), plans to spud
the first horizontal well on the Mantario Oil Project in the second quarter of
2014, subject to weather and rig availability. The well will be spudded from a
surface location at 16-1-26-25W3 with a horizontal lateral length of 800 meters.
The trajectory of the horizontal well has been established using proprietary
high resolution 3D seismic and existing well control. Pennant holds a 30%
operated working interest in the project. 


This planned horizontal well is the follow-up to the successful A15-6-26-24W3
discovery well that encountered a 20 meter pay section and is still producing in
excess of 20 bbls/d with minimal water. 


Pennant and Blackbird are close to completing a detailed exploitation study for
the Mantario Oil Project which would encompass approximately 15 Hz locations
with 80 acre spacing. Downspacing to 40 acres would allow for an additional 15
Hz locations. In addition to downspacing, the companies are evaluating secondary
recovery methods to improve the overall recovery factors for the pool. 


The costs of the horizontal well at the Mantario Oil Project are expected to be
less than $1,000,000 including drilling, completion, equipping and installation
of surface facilities, and would qualify for the exceptional 2.5% royalty
incentive currently received in Saskatchewan for drilling a horizontal well.
Pennant estimates that its portion the costs will be approximately $250,000 and
is considering alternatives for funding such costs. 


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 holds a 30% non-operated working
interest in the project. 


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 news release contains forward-looking statements that involve various risks
and uncertainties regarding future events relating to the proposed spudding of
the first horizontal well at the Company's Mantario Project including, but not
limited to, the projected cost thereof and eligibility for any royalty
incentive. 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. Although Pennant believes that the expectations and assumptions on
which the forward-looking statements are based are reasonable, undue reliance
should not be placed on the forward-looking statements.  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) a downturn in general economic conditions in North
America and internationally, (2) the inherent uncertainties and speculative
nature associated with oil and gas exploration and production, (3) a decreased
demand for natural gas, (4) 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, (5) the risk that the Company does not execute its business
plan, (6) inability to retain key employees, (7) inability to finance operations
and growth, and (8) other factors beyond the Company's control. These
forward-looking statements are made as of the date of this news release and,
accordingly, are subject to change after such date. 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


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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
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FOR FURTHER INFORMATION PLEASE CONTACT: 
Doren Quinton
[phone]
[e-mail]
www.qiscapital.com