PENNINE WELCOMES FORMER BANKERS PRESIDENT WADSWORTH AS INDEPENDENT DIRECTOR, GRANTS STOCK OPTIONS

CALGARY, ALBERTA (January 11, 2016) – Pennine Petroleum Corporation (TSX-VENTURE: PNN OR “PENNINE”) is pleased to announce that Mr. Richard Wadsworth, a former executive of Albania-focused oil and gas exploration company Bankers Petroleum Ltd., is joining Pennine’s Board of Directors as an independent Director.

Mr. Wadsworth was co-founder, director, president and chief operating officer (COO) of Calgary-based Bankers during its early years, from 2004 through 2008, after negotiating a new petroleum contract and assembling a team to develop Albania’s Patos-Marinza heavy oilfield in early 2004—a move that led to the creation of Bankers. Mr. Wadsworth also led Anglo Albanian Petroleum, an Albanian-based joint venture company of Premier Oil Plc., Albpetrol, IFC and OMV, from 2001 to 2004.

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