CALGARY, ALBERTA–(Marketwired – Dec. 19, 2014) – Forent Energy Ltd. (“Forent” or the “Company”) (TSX VENTURE:FEN) is pleased to provide an update on corporate activity and a new corporate presentation, which is available at www.forentenergy.com.
Over the past year, Forent has quietly accumulated over 54 sections (1.5 townships) of petroleum and natural gas mineral rights in the emerging Heathdale area. The majority of the highly perspective acreage has all petroleum and natural gas rights from surface to basement, with a 5 year tenure. These lands have multi-zone potential for oil and natural gas from relatively shallow horizons (less than 1,300 metres) and are located within Forent’s southeastern Alberta core region.
Forent has identified by-passed pay intervals on the held lands with several drill ready prospects. Recent offseting horizontal drilling activity targeting the Glauconite and Detrital formations are assisting in de-risking the play for future development.
The following regional map of the Heathdale area shows Forent’s held lands, highlighted in yellow: http://media3.marketwire.com/docs/ForentFig1.pdf.
Forent is an oil and gas exploration, development and production company with mineral rights holdings, reserves and production in Alberta, Canada. The Company’s three core properties in south central Alberta provide the majority of Forent’s production (approximately 250 boed, 60% oil and liquids).
Shares of Forent trade on the TSX Venture Exchange under the symbol “FEN”.
This release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, Investors should review the Company’s registered filings which are available at www.sedar.com.
Barrel (“bbl”) of oil equivalent (“boe”) amounts may be misleading particularly if used in isolation. All boe conversions in this report are calculated using a conversion of six thousand cubic feet of natural gas to one equivalent barrel of oil (6 mcf=1 bbl) and is based on an energy conversion method primarily applicable at the burner tip and does not represent a value equivalency at the well head.
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.
Forent Energy Ltd.
President & CEO
(403) 262-9444 #211
Forent Energy Ltd.
Brad R. Perry
(403) 262-9444 #208