Stockwatch

Pennine Petroleum Corp
Symbol	PNN
Shares Issued	101,786,027
Close 2015-12-01	C$ 0.015
Market Cap	C$ 1,526,790
Recent Sedar+ Documents

Pennine Petroleum wins bid for Albanian block

2015-12-07 06:49 ET - News Release

Kimberley Subject: Press Release/News Attached for Distribution on Stockwatch.com File: 07.12.2015 PNN Albania Block Velca.doc Pennine receives notification of successful bid for Block Velca territory in Albania CALGARY, ALBERTA (Dec. 7, 2015) - Pennine Petroleum Corporation (TSX-Venture: PNN or the "Corporation") is pleased to announce that it has received notification from licensee Albpetrol Sh.A., that Pennine was confirmed on Dec. 2, 2015 by the Republic of Albania's Ministry of Energy and Industry as the successful bidder for Block Velca. The block is located 10 kilometers southeast of the city of Vlore, in the southern portion of the Balkan nation, and covers an area of 153,215 acres (239 square miles, or 620 square kms). The hydrocarbon reservoirs associated with Block Velca are Ionian sub thrust carbonates, similar in structure to reservoirs of the foothills of western Alberta. Mr. John Garden, Pennine's Chief Executive Officer (CEO), has worked extensively in Albania drilling vertical and horizontal wells, and managing numerous well completions in the southeastern European country. "I am pleased to announce Pennine's participation in the oil and gas industry of the Republic of Albania," says Mr. Garden. "This project has significant potential for the Corporation, as it develops its geographic, price point and jurisdiction of exploration and development strategy. "Working in the Republic of Albania, and respecting its established legislation and regulations, will generate significant interest to the shareholders of Pennine and the people of Albania," adds Mr. Garden. The award is conditional and subject to the terms and conditions of a negotiated petroleum agreement and subsequent government and Board of Director approvals. -30- About Pennine Petroleum Corporation: Pennine Petroleum Corporation is an emerging oil and gas exploration and development company (www.penninecorp.com) currently active in Alberta and Saskatchewan, and expanding internationally. For further information, contact: Pennine Petroleum Corporation N. Desmond Smith Anthony Ghitter T: 403.277.4421 T: 403.277.4421 F: 403.277.4439 E: des.smith@penninecorp.com E: ghittera@gmail.com W: www.penninecorp.com W: www.penninecorp.com Investors are cautioned that, except as disclosed in management information circulars or filing statements, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of the Company should be considered highly speculative. This news release contains forward-looking statements. Certain statements contained in this news release constitute forward-looking statements. The use of any words such as "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Readers are cautioned not to place undue reliance on these statements as the Company's actual results, performance, or achievements may differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements if known or unknown risks, uncertainties or other factors affect the Company's business, or if the Company's estimates or assumptions prove inaccurate. Therefore, the Company cannot provide any assurance that forward-looking statements will materialize. The Company assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or any other reason except as required by applicable securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. Neither 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 release. File: 07.12.2015 PNN Albania Block Velca.pdf Pennine receives notification of successful bid for Block Velca territory in Albania CALGARY, ALBERTA (Dec. 7, 2015) Pennine Petroleum Corporation (TSX-Venture: PNN or the "Corporation") is pleased to announce that it has received notification from licensee Albpetrol Sh.A., that Pennine was confirmed on Dec. 2, 2015 by the Republic of Albania's Ministry of Energy and Industry as the successful bidder for Block Velca. The block is located 10 kilometers southeast of the city of Vlore, in the southern portion of the Balkan nation, and covers an area of 153,215 acres (239 square miles, or 620 square kms). The hydrocarbon reservoirs associated with Block Velca are Ionian sub thrust carbonates, similar in structure to reservoirs of the foothills of western Alberta. Mr. John Garden, Pennine's Chief Executive Officer (CEO), has worked extensively in Albania drilling vertical and horizontal wells, and managing numerous well completions in the southeastern European country. "I am pleased to announce Pennine's participation in the oil and gas industry of the Republic of Albania," says Mr. Garden. "This project has significant potential for the Corporation, as it develops its geographic, price point and jurisdiction of exploration and development strategy. "Working in the Republic of Albania, and respecting its established legislation and regulations, will generate significant interest to the shareholders of Pennine and the people of Albania," adds Mr. Garden. The award is conditional and subject to the terms and conditions of a negotiated petroleum agreement and subsequent government and Board of Director approvals. -30- About Pennine Petroleum Corporation: Pennine Petroleum Corporation is an emerging oil and gas exploration and development company (www.penninecorp.com) currently active in Alberta and Saskatchewan, and expanding internationally. For further information, contact: Pennine Petroleum Corporation N. Desmond Smith Anthony Ghitter T: 403.277.4421 T: 403.277.4421 F: 403.277.4439 E: des.smith@penninecorp.com E: ghittera@gmail.com W: www.penninecorp.com W: www.penninecorp.com Investors are cautioned that, except as disclosed in management information circulars or filing statements, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of the Company should be considered highly speculative. This news release contains forward-looking statements. Certain statements contained in this news release constitute forward-looking statements. The use of any words such as "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and similar expressions are intended to identify forward- looking statements. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Readers are cautioned not to place undue reliance on these statements as the Company's actual results, performance, or achievements may differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements if known or unknown risks, uncertainties or other factors affect the Company's business, or if the Company's estimates or assumptions prove inaccurate. Therefore, the Company cannot provide any assurance that forward-looking statements will materialize. The Company assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or any other reason except as required by applicable securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. Neither 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 release.