Mr. N. Desmond Smith reports

PENNINE PETROLEUM CORPORATION OFFERS CASTOR WELL RECOMPLETION UPDATE

Further to the news release of Sept. 15, 2014, concerning Pennine Petroleum Corp.'s initiation of activities at the Castor 2-22 well site, Pennine has provided an update on recompletion efforts.

Castor 2-22, located in east-central Alberta, is a re-entry to access the Mannville formation, where, in 1989, after a 90-minute drill stem test over the target zone, maximum natural gas flow rates of 629,000 cubic feet per day were recorded with 59 feet of drilling mud recovered.

The well has been re-entered. A casing corrosion log has been run, and the casing has been found to be sound. As of Sept. 28, 2014, the corporation drilled out the cement and bridge plug placed in the wellbore when it was abandoned in 1999. The corporation plans to reperforate at four shots per foot in the prospective zone to provide current and better access to the reservoir. Following this activity, the well will be tested for a period of time to establish natural gas production rates.

To reiterate, John Garden (PEng), director of the corporation, remarked: "Pennine is extremely pleased to initiate work to recomplete the Castor 2-22 well. This is the beginning of positive asset-building activities of the corporation, and will kick off the corporation's move to expand interests in the Castor area."

Mr. Garden is a professional engineer, graduating from the University of Calgary in 1993 and obtaining his Alberta PEng professional designation in 1995. Mr. Garden has provided drilling, completion and production engineering services in Albania and Ukraine, and pioneered horizontal drilling and completion procedures in the Bakken, Three Forks, Viking and Cadomin formations in Canada. Mr. Garden has occupied the roles of senior officers and directors of various public companies in Canada, and is a past president of the Canadian Association of Drilling Engineers. Mr. Garden became a director of Pennine in May, 2014.

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