CALGARY, ALBERTA--(Marketwire - June 1, 2011) - Forent Energy Ltd. (TSX VENTURE:FEN) ("Forent" or the "Company") is pleased to announce that further to its press release of May 2, 2011 it has successfully completed a best efforts private placement of 9,379,167 Common Shares, issued on a a "flow-through" basis (the "FT Shares") at a price of $0.24 per FT Share (the "Offering"), for total gross proceeds of $2,251,000. MGI Securities Inc. (the "Agent") acted as lead Agent in connection with the Offering. Fees and cash commissions of $144,395, as well as 488,833 Agent's Warrants ("Warrants") were paid to MGI Securities Inc, and other sub-agents. Insiders of the Company purchased a total of 1,850,133 FT shares or 19.7% of the Offering.

The securities issued in the Offering are subject to a hold period of four months plus one day from closing.

The Offering is subject to applicable regulatory and TSX Venture Exchange approval and completion of definitive documentation. Proceeds from the Offering will be used for the exploration and development of the Company's lands onshore in Nova Scotia and Western Canada.

Forent has completed approximately 95% of the permitting required for its 65 km 2D Nova Scotia seismic program on the Alton Block and anticipates acquiring the seismic data in July 2011, with a goal of commencing the drilling of up to three wells early in the fourth quarter of this year.

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.