CALGARY, ALBERTA--(Marketwire - April 16, 2012) - Forent Energy Ltd. ("Forent" or the "Company") (TSX VENTURE:FEN) confirms that the seasonal road restrictions have been lifted in Colchester County and the Company has mobilized the drilling rig that was used for its first well, to the second drilling location, "Forent South Branch #1", near the community of Upper Stewiacke, Nova Scotia.
This drilling location is approximately 17 km east of the Alton #1 well and is located on a separate highly prospective geophysical anomaly, identified on both 2D seismic and Forent's gravity gradiometry survey. The Company anticipates that drilling will commence later this week and is expected to take approximately two weeks to be completed. Further information will be press released when available.
Shares of Forent trade on the TSX Venture Exchange under the symbol "FEN".
Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements such as the estimates of reserves, the references to Forent's exploration program and drilling program and capital expenditures relating to, and timing of, such programs are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. There are uncertainties inherent in forward-looking information, including factors beyond Forent's control, and no assurance can be given that the programs will be completed on time, on budget or at all. In addition, there are numerous uncertainties inherent in estimating reserves, including many factors beyond Forent's control, and no assurance can be given that the indicated level of reserves or the recovery thereof will be realized. Forent undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in Forent's filings with Canadian securities regulators, which filings are available at www.sedar.com.
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 press release.