Forent Energy Announces Q3 2015 Financial and Operating Results

CALGARY, ALBERTA--(Marketwired - Nov. 27, 2015) - Forent Energy Ltd. (TSX VENTURE:FEN) ("Forent" or the "Company") is pleased to announce that it has filed its Financial Statements and Management's Discussion & Analysis, for the nine months ended September 30, 2015, 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. Also, the Company has updated its corporate presentation and has made it available on its website.

Some people may view these times in the energy business with pessimism. Lack of or limited pipelines make it difficult for Canadian crude to get to world markets and achieve world price. Capital programs that would expand or maintain world oil supplies have been dramatically reduced. Cash flows are down, netbacks have narrowed or disappeared, equity markets have essentially dried up, bankers are nervous and more discerning and some bank lines are being called. Does the world no longer need crude oil? The need for gasoline still appears to exist.

We are not immune to the effects of low oil prices. It has hurt our cash flow and we have reduced compensation to the members of our team in order to reduce our overhead. Forent believes that this current economic environment creates an opportunity. Assets are available to purchase and with few potential buyers. We believe this is the time to acquire assets with large oil in place and long life reserves, positioning ourselves for the future.

We have a Board of Directors with great experience and significant ownership in the company which, when combined with management ownership approaches 50% of the outstanding shares. We are highly motivated and enthusiastic about building the assets of Forent during this time of low product prices.

CRUDE OIL ACQUISITION

Earlier this November, we announced the signing of a purchase and sale agreement to acquire oil weighted production in the Company's core area of Twining near Three Hills, Alberta. When this deal closes in December it will result in the addition of 250 boe/d, which will more than double the Company's current production.

The purchase metrics are excellent and include over 70 gross sections of land (20 net) which have over 30 infill drilling locations identified for future development.

The Acquisition is summarized as follows: