Pennant Energy Inc. Provides Latest Operations Updates

- January 27th, 2012

Pennant Energy Inc.(TSXV:PEN) announced operations updates for its Bigstone Montney natural gas project. The Company also announced that surveys have been completed at the property and plans and contracts are in place to construct a 1,5 mile pipeline.

Pennant Energy Inc.(TSXV:PEN) announced operations updates for its Bigstone Montney natural gas project. The Company also announced that surveys have been completed at the property and plans and contracts are in place to construct a 1,5 mile pipeline.

As quoted in the press release:

Donnybrook is currently waiting on surface approval to commence construction of 2 drilling pads that will facilitate the drilling of up to 6 more wells. Surveys have been completed for 5 of these development locations. Construction of the first surface lease is expected to be complete by mid-February and Donnybrook has informed Pennant they have located a rig suitable to commence drilling the next well as soon as the third week in February. Donnybrook anticipates this well will be drilled from a surface location at 4-28-60-22w5.

Pennant Energy, President, Thomas Yingling, said:

Although the mechanical issues we have encountered with the 15-32 well have raised some technical issues, Pennant is excited about the quality of reservoir the 15-32 well has encountered and looks forward to receiving results from the production test and placing the well on production. We are continuing to move ahead in the field with operations to tie in both the 15-32 and 14-29 wells, and are preparing to drill a third well on this exciting prospect.

Click here to read the Pennant Energy Inc. (TSXV:PEN) press releaseSee this press release on Marketwire
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