[Marinir] {Disarmed} Pennant (TSX-V: PEN) Discovers 1, 011 BOE/day Well

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http://www.pennantenergy.com/s/Home.asp 

PENNANT TESTS 1,011 BOE per day AT BIGSTONE, MONTNEY HORIZONTAL WELL 
Highlights: 

Discovered 1018 BOE/Day well 

Up to 26 more drill location potential 

Only 41 million shares out, little to no debt 

Thomas Yingling, President of Pennant Energy Inc. (TSX Venture Exchange: 
PEN 

http://www.stockwatch.com/Quote/Detail.aspx?action=go&symbol=PEN&region=C&lookup=symbol&snapshot=default 

) is pleased to announce, pursuant to our September 28 press release it 
has been informed by the operator, Donnybrook Energy Inc. (Donnybrook) 
of Calgary, that the Bigstone, Montney Formation horizontal well, 
Donnybrook HZ Bigstone 14-29-60-22W5, has been successfully completed 
and flow tested. On October 12th, a 240 ton, 12 stage continuous 
fracture treatment along the 1254 meter lateral leg of the well 
(horizontal portion) was carried out over a 6 hour period. Immediately 
after, the well was flowed for cleanup and subsequently flow tested for 
approximately 4 days and is currently shut-in for built up. The well, 
after clean-up, produced gas and condensate over the last 24 hours of 
the test at approximately 4.3 million cubic feet per day (mmcf/day) and 
295 barrels per day (bbls/day) of condensate (1011 barrels of oil 
equivalent per day, boe/day). 

The 14-29-60-22w5 well has tested at comparable or better rates to a 
well located approximately 5 miles to the south which was drilled and 
completed in a similar manner (1200 meter lateral with 12 stage frac) 
and tested rates of (3.5 mmcf/day and 225 bbls/day of condensates; 808 
boe/d). The operator of that well has offset the initial test with 2 
longer horizontal wells with 2000 and 2538 meter laterals at locations 
about 4 miles south of ( 1 mile closer to) the Bigstone 14-29 well. The 
2000 meter lateral section tested at rates of 13.1 mmcf/day and 655 
bbls/day of condensate (2,840) boe/day). The 2538 meter lateral section 
tested at 15mmcf/day and 600-900 bbls of condensates. (3100-3400 boe/d). 

The Donnybrook HZ Bigstone 14-29-60-22w5 well confirms the Montney 
formation at Bigstone is at least comparable or possibly better in 
reservoir quality to the Montney that has been drilled at Fir 4 miles to 
the south. Accordingly, longer 2000-2600m lateral sections at Bigstone 
should produce a similar increase in results with test rates anticipated 
to be 3 to 4 times higher than the 14-29-60-22w5 well has achieved. 

Thomas Yingling President of Pennant Energy Inc. stated, "the Bigstone 
well has clearly exceeded our expectations. The Bigstone/Fir Montney 
area resource development potential has attracted a significant amount 
of attention in recent months, not only reflected in the current and 
planned drilling activity in the area , but also in the high land prices 
paid ($2,500/ha) at recent Crown sales Pennant's 25% W.I. in 1792 ha of 
contiguous lands at Bigstone represents a potential drilling inventory 
of 13-27 development locations depending on the length of the horizontal 
leg of each well. We are looking forward to developing this exciting 
project with our partners". 

Based on the reported production performance of longer lateral wells to 
the south at Fir and the quality of the Montney reservoir section 
encountered at Bigstone, Donnybrook has informed Pennant that it is 
planning to drill a longer 2000-2200m lateral as the next well in the 
project. 

To view a brief video detailing the horizontal frac process please visit 
our web site at www.pennantenergy.com and for further information on any 
of our projects please feel free to contact the company at 604-689-1799. 

ON BEHALF OF THE BOARD OF DIRECTORS OF 

PENNANT ENERGY INC. 

"Thomas Yingling" . 

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. 

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