Pennant Energy Schedule Fracing Operations for January 15, 2012

Pennant Energy Inc.(TSXV:PEN) announced the Company’s first extended reach horizontal well on the Bigstone Montney Prospect. The Company was advised by the operator, Donnybrook Energy Inc., that the well has been drilled to total depth.

As quoted in the press release:

The well was drilled directionally to a total measured depth of 5,512 meters from the 3-29-60-2W5 surface location and included an extended reach lateral through the Montney Formation measuring 2,744 meters at the 15-32-60-22W5 bottom-hole terminus. The completion string is configured to conduct a continuous, multi stage fracture stimulation consisting of up to 24 stages over the length of the horizontal lateral. The completion operations including the frac procedure, production test and preparing the well in readiness for tie-in to sales are estimated to be accomplished by early to mid February, 2012.

Pennant Energy Inc., President, Thomas Yingling, stated:

Once these first Bigstone wells are on stream it will add significantly to our current production and reserve base as well as our overall understanding of the Bigstone prospect’s potential.

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