FEN Forent Energy Ltd.

Forent Energy Ltd. (TSX VENTURE:FEN) ("Forent" or the "Company") is pleased to
announce that it has filed its unaudited condensed Interim Financial Statements
and Management's Discussion & Analysis, for the period ending March 31, 2013,
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.


Overview of the First Quarter of 2013

During the first quarter of 2013, Forent undertook significant positive changes
for the Company in regards to the closing of the sale of its Mervin property,
changes in senior management and a $1.5 million private placement.


On February 1, 2013, the Company closed the sale of all its interests in its
Mervin, Saskatchewan property for $5.5 million plus customary adjustments,
resulting in a gain of $2.9 million over the carrying amount of the property and
related liabilities, net of deferred taxes. The disposition of the property
allowed Forent to realize a value that was comparable to the fair market value
of the asset prior to the impairment in September of 2012 and in excess of the
independently assigned proved plus probable value as of December 31, 2011. The
proceeds of the sale have been allocated to ongoing capital requirements.


On February 22, 2013 Forent appointed Richard Wade as the new President and
Chief Executive Officer to lead the Company into its next phase of growth. This
change came as a result of the resignation of Thomas Lester the former interim
President, CEO and CFO. Mr. Wade is a registered Professional Engineer in
Alberta & Saskatchewan and brings to Forent a broad range of experience in
drilling, completions, reserve evaluations and production operations. He also
has a strong background in asset acquisitions and divestitures. Mr. Wade will be
a key asset to the Company as Forent moves to acquire a base level of cash flow
while exploiting both the Montgomery and Alton assets.


In March of 2013, Timothy Laska, P.Geol, joined Forent as Vice-President of
Geology. Mr. Laska is a registered Professional Geologist with over 25 years of
exploration and development experience across the Western Canada Sedimentary
Basin. He has worked with Mr. Wade previously at Elk Point Resources, Western
Gas Canada and Lario Oil and Gas. Mr. Laska has also previously worked with
Forent's Vice-President of Exploration, Ian Shook, at PanCanadian Petroleum
during a very successful exploration and development growth phase in
PanCanadian's Drumheller district. The addition of Mr. Laska adds a key element
to Forent's management team.


As a result of the production and cash flow impairment of the Mervin asset,
Forent opened the year with a $1.2 million working capital deficiency, not
including long-term assets and liabilities held for sale. In order to ensure
adequate short term working capital and due to uncertainty regarding the ability
and potential timing to close the Mervin sale, Forent initiated a financing
transaction in earlier 2013 and completed the non-brokered financing of
$1,500,000 on February 20, 2013.


Nova Scotia

Forent reached a significant milestone in 2012 with the drilling of two
exploration wells for Gays River reefs on the Alton Block. Forent Alton #1 and
Forent South Branch #1 were both drilled through the zones of interest to
basement. These wells provided confirmation regarding the presence of
hydrocarbons in the system and reef development at depth. They also reduced the
Company's three year $6.3 million exploration agreement commitment to $1.8
million, as at March 31, 2013. Under the current terms of the Alton Block
exploration agreement, the balance of the work commitment is required to be
spent by April 8, 2014.


Forent is actively looking for a joint venture partner to assist with capital
expenditures and share risk and upside potential on the Alton Block. In addition
to 8 geophysical anomalies targeting Gays River reef locations, Forent sees
large potential for gas reserves in the Horton shale on the northern portion of
the Alton bock. Data obtained from operators offsets Forent acreage; indicate
significant shale gas potential on these lands. During 2013, Forent will
continue geological evaluation of the Horton Shale potential while seeking a
joint venture partner to evaluate both Gays River reef and Horton Shale
potential.


Montgomery, Alberta

During the second quarter of 2012, at Montgomery, Forent entered into a joint
venture partnership with BlackShale Resources Inc. ("BlackShale"), a wholly
owned subsidiary of Houston based Kerogen Energy Holdings LLC. BlackShale is a
private company specializing in identifying and exploiting unconventional oil
and gas opportunities in Canada. After an extensive assessment of the regional
light oil resource opportunities in Western Canada, BlackShale identified
Forent's Montgomery lands for one of its initial projects and committed to drill
up to two exploration wells on a pay 100% of cost to earn 70% working interest
basis. BlackShale will earn a 70% interest on 4 sections of land per well
drilled.


In December of 2012 the first earning well, BlackShale Montgomery
01-16-012-29W4/00, was drilled and cased to the base of the Mannville formation
at 3,227 meters. Although the well is still being evaluated, indications to date
are that it will achieve its intended objectives. Extensive core was cut and a
full suite of conventional and specialized petrophysical logs were run over the
entire well bore in order to analyze both the unconventional and conventional
hydrocarbon potential. During the first quarter of 2013, the Second White Specs
formation was perforated and stimulated in order to obtain rock mechanical
properties, pressure and flow data. Subsequent to the stimulation, the well was
flowed for a partial clean up, shut-in for an extended reservoir pressure build
up and remains in this state today. Tight reservoirs typically require extended
shut-in periods to fully build up to initial reservoir conditions in order to
adequately analyze the data and calculate the stimulated permeability.
Additional evaluations of the well, core and log data will occur over the next
several months.


Mervin, Saskatchewan

On February 1, 2013, the Company closed the sale of all of its interests in the
Mervin, Saskatchewan property for proceeds of $5.5 million, resulting in a gain
of $2.9 million over the carrying amount of the assets and liabilities related
to the property, net of deferred taxes. The disposition of this property allowed
Forent to realize a value comparable to the fair market value of the asset prior
to the impairment and in excess of the independently assigned proved plus
probable value as of December 31, 2011.


Outlook for 2013

Forent has made significant progress in evaluating both asset and corporate
merger opportunities during the first quarter of 2013. Several assets were
evaluated however only a few were of sufficient quality to warrant an offer.
While unsuccessful in securing any of these asset packages, Forents offers were
competitive but other circumstances prevented closing of the deals. During the
first quarter, Forent also evaluated a number of companies as potential merger
candidates. Focus was directed towards companies with quality assets and strong
balance sheets. We will continue to evaluate and submit proposals to replace the
production loss from the sale of the Mervin property and restore operating cash
flow. The cash flow generated from new operations will provide a foundation of
steady operating funds and reserve base while Forent continues to advance our
core projects in Montgomery, Alberta and Alton, Nova Scotia.


While the first well in the Montgomery block was intended as a regional test
well, Forent anticipates that a longer term production test will occur after the
reservoir recorders are removed and the pressure build up has been analyzed. We
anticipate the reservoir recorders will be pulled from the wellbore in early
June 2013 and the data will be analyzed to evaluate the effectiveness of the
stimulation. This will provide valuable input for development of a production
model and assist in the planning of future wells. In Montgomery, we will
continue to work closely with our joint venture partner's technical team on
analyzing the results of the 01-16-12-29W4 well and evaluate future drilling
locations. We will continue to communicate with the landowners in the area and
remain a good neighbor and joint venture partner.


In Nova Scotia it is anticipated the Alton # 1 standing wellbore will be
abandoned in the second quarter of 2013 in order to ensure the capital expended
on the well is fully qualified as flow through expenditures. The wellbore will
be left in a state that future re-entry will be easily accommodated should
further testing be warranted. Forent is actively seeking a joint venture partner
to accelerate the drilling of the balance of the Gays River Reef structures
identified and assist in further quantification of the shale gas potential of
the area.


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

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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Forent Energy Ltd.
Richard Wade
President & CEO
(403) 262-9444 #211
rwade@forentenergy.com
www.forentenergy.com

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