Forent Completes Farm-out Arrangements for Montgomery, Alberta Lands

Thu Aug 30, 2012 7:00am EDT

* Reuters is not responsible for the content in this press release.

Forent Energy Ltd. ("Forent" or the "Company") (TSX VENTURE:FEN) is
pleased to announce that the Company has entered into a farm-out
agreement ("Agreement") for certain of its Montgomery, Alberta
exploration assets. The Forent Montgomery assets include 29 contiguous
sections of highly prospective land along with proprietary 3-D seismic.

    Forent has completed a definitive farm-out agreement with BlackShale
Resources, Inc. ("BlackShale"), a wholly owned subsidiary of Houston
based Kerogen Exploration LLC. BlackShale is a private company that
specializes in identifying and exploiting unconventional oil and gas
opportunities in Canada. After extensive assessment of regional
opportunities in Western Canada, BlackShale chose Forent's Montgomery
lands as one of its initial projects for light oil exploration.

    Under the terms of the Agreement, BlackShale will fund the cost to drill
and complete a vertical test well to the base of the Mannville Formation,
a depth of approximately 3,100 metres, to earn a 70% interest in all PNG
rights to the base of the deepest formation penetrated in four contiguous
sections of land, while Forent will retain 30% of its pre-farmout
interest in these four sections. 

    Upon drilling the first well and having evaluated all of the formations
in the borehole, BlackShale may exercise an option to drill additional
vertical or horizontal wells under similar earning conditions. 

    As a critical part of the execution of the Agreement, the parties have
jointly interpreted Forent's proprietary 25 section 3D seismic
information and identified the first drilling location, with BlackShale
as operator. BlackShale expects to spud the first well prior the end of
the year. 

    Forent is very excited with its new partner for the development of its
Montgomery asset and the technical and financial capacities BlackShale
brings to the exploration program.

    Shares of Forent trade on the TSX Venture Exchange under the symbol

    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

    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.

Forent Energy Ltd.
Tom Lester
President, CEO & CFO
(403) 262-9444 #203

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