Pennant Energy Provides Operational Update

Pennant Energy Inc. ("Pennant" or the "Company") (TSX VENTURE:PEN) is pleased to
provide an update on its continued operations. 


At the recently drilled A15-6-26-24W3 ("A15-6") well on its Mantario project,
Pennant encountered a 20 meter pay section in the Success formation containing
oil bearing sands. The well is now tied in and producing approximately 25 bbls/d
of heavy oil with minimal water cut. The well has a high pumping fluid level
with additional production capability. The Company is monitoring the well's sand
cuts and torque levels for stabilization before further increasing the
production rate. The Company is following a carefully planned development versus
high initial rates at the cost of future profit. 


Pennant and its partner Blackbird Energy Inc. are now beginning to evaluate
utilizing horizontal drilling as this project would lend itself exceptionally
well to this type of development as it would increase production and total
recoverable oil. These horizontal wells have great economics as they require no
expensive packer systems or fracture stimulation and qualify for exceptional
royalty incentives. 


Pennant will continue to evaluate and increase production on this well with a
plan to initiate a horizontal development program in the first half of 2014. 


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

About Pennant Energy 

Pennant Energy Inc. is a Western Canadian based company that explores, develops
and produces oil and natural gas in Western Canada. Pennant trades on the TSX
Venture Exchange under the symbol PEN.


PENNANT ENERGY INC. 

Garth Braun, President & CEO      

Disclaimer for Forward-Looking Information  

This news release contains forward-looking statements that involve various risks
and uncertainties regarding future events relating to future production on
Pennant's recently drilled A15-6-26-24W3 ("A15-6") well on its Mantario project,
similar results that may be achieved from other wells on the Mantario project,
or the utilization or effectiveness of horizontal drilling on the project, or
that such drilling may increase production and total recoverable oil. 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


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]
www.pennantenergy.com