Forent Energy provided an update on the drilling of the first well in the Montgomery area

11/28/2012

Forent Energy provided an update on the drilling of the first well in the Montgomery area

The farm-out agreement with BlackShale Resources that was announced on August 30, 2012 is moving forward with BlackShale having commenced drilling of the first pilot well on November 25, 2012. It is anticipated that this well will take approximately 4 weeks to drill. This vertical well will be drilled to the base of the Mannville Formation, to an estimated total depth of 3,300 m in order to evaluate all geological zones encountered.

All technical data will be thoroughly evaluated over several months in order to determine the best completion methodology for possible future horizontal wells. Forent intends to utilize the well data in order to further evaluate its 23 section, proprietary 3D seismic dataset. BlackShale is a private company that specializes in identifying and exploiting unconventional oil and gas opportunities in Canada.

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