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Forent Energy Announces 2014 Financial and Operating Results and Filing of NI 51-101 Annual Reserve Report

CALGARY, ALBERTA--(Marketwired - April 30, 2015) - Forent Energy Ltd. (TSX VENTURE:FEN) ("Forent" or the "Company") is pleased to announce that it has filed its audited Financial Statements and Management's Discussion & Analysis, for the period ending December 31, 2014, with applicable securities regulatory authorities in Canada. Copies of these documents can be accessed under the Company's profile on the SEDAR website at www.sedar.com and on the Company's website www.forentenergy.com.

In addition, the Company has filed with applicable securities regulators in Canada under National Instrument 51-101, Standards of Disclosure for Oil and Gas Activities its Form 51-101F1 - Statement of Reserves Data and Other Oil and Gas Information; Form 51-101F2 - Report on Reserves Data by Independent Qualified Reserves Evaluator; and Form 51-101F3 - Report of Management and Directors on Oil and Gas Disclosure with applicable securities regulators in Canada under National Instrument 51-101, Standards of Disclosure for Oil and Gas Activities. Such filings can also be accessed electronically from the SEDAR website at www.sedar.com.

2014 HIGHLIGHTS

2014 was a significant year in the evolution of Forent Energy as the Company increased oil & gas production to our highest levels to date by drilling 3 infill wells at Twining. Forent also drilled the first Second White Specked Shale well in Montgomery targeting a naturally fractured reservoir, and concluded its acquisition efforts to amass a significant land holding in an emerging oil play in the Heathdale area of Alberta.

FINANCIAL

For 2014, Forent's revenues, net of royalties, increased to $3.5 million compared with $1.1 million in 2013. Funds flow for 2014 was $132,000 compared with funds outflow of $1.1 million in 2013.

Capital spending for 2014 was $6.0 million. The majority of the costs for the year were to drill, complete and tie-in three wells at Twining, conduct a workover at Wayne, change out a water disposal pump at Provost and mineral rights acquisitions in the Heathdale area.

Forent's net debt (calculated as current liabilities less current assets) at December 31, 2014, was $5.8 million compared with net debt of $1.9 million at the beginning of the year. The Company has access to a credit facility of $7.0 million (scheduled for review in May 2015) of which $6.0 million was drawn at the end of 2014.

PRODUCTION

Forent's oil and natural gas sales during Q4 2014 averaged 251 BOEd compared with 204 BOEd in Q4 2013. For 2014, oil and gas sales averaged 210 BOEd vs 96 BOEd in 2013. The Company drilled three oil wells in the second and third quarters of 2014 which contributed to the overall production increase during 2014.

OPERATIONS

Forent drilled three wells on the Twining field during the second quarter. During the third quarter the wells were completed and tied-in for production. Field optimization efforts were conducted on the new 05-26 well to seal off a lower interval that was producing excess water, resulting in significantly decreased water production and associated handling costs.

In the Provost area, Forent's oil production was restricted in the third quarter due to a failing water disposal pump. The pump has subsequently been replaced, resulting in a 20% increase in water disposal capacity.

ONGOING EXPLORATION

At Montgomery, our joint venture partner drilled and cased the 14-12-012-09W4 well in March of last year. Prior to casing the well, an ultrasonic imaging log was run over the Second White Speckled Shale Formation (2WS) interval. This log indicated multiple fractures in the 2WS interval equivalent to the producing zone in the offsetting 06-06-012-08W4 well. Completion of the 14-12 well indicated the 2WS interval had been significantly depleted through production from the offsetting 06-06 well. Although the 14-12 well will not be commercially productive, it does validate the fractured shale model and proves that our proprietary 3-D seismic data can identify and target areas of natural fracturing that possess enhanced permeability.

Forent has identified four separate naturally fractured trends at Montgomery. Based on our proprietary 3D seismic, we have identified twelve vertical drilling locations along the remaining three undrilled trends.

At Heathdale, Forent now holds a 100% working interest in 54.0 sections of land with mostly P&NG rights from surface to basement and an additional 19.5 sections of land of varying working interests. The area has shallow multi-zone oil and natural gas potential in multiple formations. The Company has identified two locations on its land, targeting bypassed oil pay in each of the Glauconitic and the Detrital formations with multi-well follow-up potential. Forent has mapped eight sections of land with infill horizontal drilling potential for the Detrital prospect and four sections of land for Glauconitic potential.

OUTLOOK

With the recent decline in oil and natural gas prices Forent is re-evaluating the timing of its capital deployment program on our inventory of exploitation opportunities. The recent commodity price shift has provided Forent with an opportunity to actively pursue its mandate of growth through asset acquisitions and corporate mergers.

Shares of Forent trade on the TSX Venture Exchange under the symbol "FEN".

ADVISORY: Certain information in this news release, including the operations at the Company's properties, constitute forward-looking statements under applicable securities laws. Although Forent believes that the expectations reflected in these forward looking statements are reasonable, undue reliance should not be placed on them because Forent can give no assurance that they will prove to be correct. Since forward looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. The forward-looking statements contained in this news release are made as at the date of this news release and the Corporation does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, Investors should review the Company's registered filings which are available at www.sedar.com.

This news release shall not constitute an offer to sell or the solicitation of any offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws.

BOE presentation:

Barrel ("bbl") of oil equivalent ("boe") amounts may be misleading particularly if used in isolation. All boe conversions in this report are calculated using a conversion of six thousand cubic feet of natural gas to one equivalent barrel of oil (6 mcf=1 bbl) and is based on an energy conversion method primarily applicable at the burner tip and does not represent a value equivalency at the well head.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Forent Energy Ltd.
Richard Wade
President & CEO
(403) 262-9444 #211
rwade@forentenergy.com

Forent Energy Ltd.
Brad R. Perry
CFO
(403) 262-9444 #208
bperry@forentenergy.com
www.forentenergy.com



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