PennantEnergy Inc. - Northern Alberta

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Pennant Energy Inc is pleased to announce that they have expanded their Bronson Property land holdings by successful bidding at the September 19th, 2007, Alberta Crown land sale.

Prior to the recent land sale the Company held two closely offsetting but non contiguous land blocks (Kaybob and Bronson) in the area totaling 1600 acres. When the Company initially gained control of the two blocks there was only limited, incomplete 3D seismic coverage of the lands; therefore, two extensive 3D seismic surveys were conducted during the winter 2007 to assess the exploration potential of the two acreage blocks. The winter 2007 3D surveys not only completed coverage of the interest acreage but were expanded to evaluate the potential for oil and gas on several of the bordering lands. Interpretation of the new 3D seismic data resulted in identifying several areas of interest on our existing Bronson property and as well, on a bordering section of Crown land to the east. Based on the favorable 3D seismic results over the Crown acreage the decision was made to post the lands for auction. To assist in determining how aggressively to bid, the Company also conducted extensive Geochem surveys over the lands. The Company is pleased to announce that we were successful in acquiring the 640 acre Crown section. Henceforth, the Bronson property will be referred to as "Bronson West", comprising section 13 and E/2 section 14, Twp 58-17W5, while the newly acquired land, section 7-58-16W5, will be referred to as "Bronson East".

Bronson East is a 640 acre contiguous property located south east of the Companies existing Bronson West Property. With positive results from both the Geochem survey and the 3D seismic survey the Company has identified several potential drill targets and is reviewing all of the data acquired to date. The Bronson properties are a 50/50 joint venture with Austin Developments Corp

Mr. Thomas Yingling, President of Pennant states, "We are very pleased to have been successful in expanding our land package with the addition of these key lands. This area we are focusing on is one of the most prolific oil and gas producing regions in Canada. I am proud to say that Pennant still only has 16.1 million shares outstanding, no debt, and approximately $1.5 million dollars in the bank. With a management team that has a previous track record of 86% success rate in drilling over 500 wells and the addition of new key lands, , Pennant is poised for exceptional growth."

The Company announces that it continues to seek additional production acquisition/drilling prospect opportunities and is currently conducting due diligence on two projects located in Northern Alberta. The Company will update shareholders as events arise."