PENNINE IS VERY PLEASED TO ANNOUNCE THAT IT HAS RECEIVED NOTIFICATION FROM ALBPETROL SH. A., THE LICENSEE OF BLOCK VELCA, THAT ON DECEMBER 02, 2015 

CALGARY, ALBERTA (December 07, 2015) – Pennine Petroleum Corporation (TSX-VENTURE: PNN or the “Corporation”) is very pleased to announce that it has received notification from Albpetrol Sh. A., the licensee of Block Velca, that on December 02, 2015 Pennine has been approved by the Minister of Energy and Industry, Republic of Albania, as the successful bidder for Block Velca.

The Block is located 10 kilometers southeast of the city of Vlora in southern Albania and covers an area of 153,215 acres (239 square miles).  The reservoir is an Ionian sub thrust carbonate similar in structure to those hydrocarbon reservoirs of the foothills of western Alberta.

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