CALGARY, ALBERTA--(Marketwire - Oct. 30, 2009) - Forent Energy Ltd. (TSX VENTURE:FEN) ("Forent" or the "Company") is pleased to announce that , further to its press release of September 1, 2009, it has successfully completed a best efforts financing ("the offering") of 10,223,799 Units of the Company at a price of $0.15 per Unit, each Unit consisting of one common share (a "Common Share") in the capital of the Company and one half (1/2) a Common Share purchase warrant ( a "warrant"), each whole Warrant being exercisable for one (1) Common Share of the Company at a price of $0.17 per share (the "Warrant Price") until April 28, 2011; and 9,841,411 Common Shares to be issued on a "flow-through" basis (the "FT Shares") at a price of $0.17 per FT Share for total gross proceeds of $3,206,610, before expenses and underwriter's fees Maison Placements Canada Inc. acted as agent in connection with the Offering and received a $320,661 cash commission and 2,006,521 agent warrants, each such warrant being exercisable for one Common Share at a price of $0.17 per share at any time prior to April 28, 2011. The securities issued by the Company in connection with the offering are subject to resale restrictions under applicable securities legislation and the policies of the TSX Venture Exchange until March 1, 2010.

The Company will apply the proceeds of this issue towards its Alberta oil exploration and development program and for general working capital purposes.

Forent is currently assessing a number of Western Canadian development and exploration opportunities so it can generate an inventory of drilling prospects that can, with success, create a balance sheet that supports its Nova Scotia high impact exploration opportunities. The company intends to pursue a number of farm-in opportunities and drill these prospects by the end of the first quarter of 2010.

Forent is the largest on-shore oil and natural gas license holder in Nova Scotia with exploration licenses on more than 1.2 million net acres. The Company has identified an extensive inventory of oil and natural gas opportunities on its Nova Scotia properties, including conventional Gays River carbonate oil & natural gas targets and a significant Horton shale gas resource play. Forent's Nova Scotia properties are bisected by the Maritimes & Northeast natural gas pipeline providing direct access to market for natural gas developments in the area and the region also offers access to oil refineries for the processing of any future crude oil discoveries.

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

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.