Forent Energy Ltd. provide an update on the drilling of its first potential reef oil well in Nova Scotia.

Forent reports it will be moving a drilling rig to the Alton Block in February and will initiate drilling later in the month. Further updates will be forthcoming as wells are completed.

The Company also announces the grant of 3,060,000 stock options to certain directors, officers, employees and consultants issued pursuant to the Company's stock option plan.

The options vest over a 2 year period, are exercisable at a price of $0.20 per share and expire in January 2017. The shares issuable upon exercise of the options may not be traded for 4 months and one day from the date of grant.

Tags: Forent Energy