CALGARY, ALBERTA — (Marketwire) — 08/26/11 — Thomas Yingling, President of Pennant Energy Inc. (TSX VENTURE: PEN) is pleased to announce that pursuant to our press release of August 16, 2011, the Company has been informed by the operator, Donnybrook Energy Inc. (Donnybrook) of Calgary, that drilling of the Montney formation, horizontal test well, 100/14-29-060-22W5/00 commenced on August 25th, 2011.
The Company–s participation in the well is by farmin agreement whereby completing the terms of the agreement, Pennant will earn 25% interest in a total of 7 sections (4,480 gross acres) of Donnybrook–s lands at Bigstone and in any future operations within an Area of Mutual Interest (AMI). Donnybrook will act as operator and participate as to a 25% working interest W.I. in the drilling, completion and tie-in (or abandonment) of the test well.
To view a brief illustrated video detailing the drill program please follow the link below:
For further information on any of our projects please feel free to contact the company at 604-689-1799 or visit our web site at .
ON BEHALF OF THE BOARD OF DIRECTORS OF PENNANT ENERGY INC.
Mr. Thomas Yingling, President
This News Release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Contacts:
Pennant Energy Inc.
Mr. Thomas Yingling
President
(604) 689-1799
(604) 689-8199 (FAX)