Amateur North Bay Centennials (1990–1992) Penney was selected by the
North Bay Centennials of the
Ontario Hockey League (OHL) in the 1990 draft in the second round, 23rd overall. He joined North Bay in the
1990–91 season, and was placed on the team's top line with Derek Switzer and K. J. White as a rookie by head coach
Bert Templeton. In 66 games, he scored 34
goals and 34
assists for 67
points. North Bay qualified for the postseason by finishing second in the division and faced the
Peterborough Petes in the first round. They swept the Petes only to be eliminated in the next round by the
Ottawa 67's. In ten playoff games, Penney scored two goals and eight points. Playing on a new line with
Jason Firth and Jack Williams, Penney added 25 goals and 52 points in 57 games for the Centennials. He missed OHL games attending the
1992 World Junior Championship. In the postseason, North Bay advanced to the OHL's championship series versus the
Sault Ste. Marie Greyhounds having defeated the Petes,
Sudbury Wolves and
Belleville Bulls. Penney played on a line with
John Spoltore and
Mark Lawrence in the playoffs. The Centennials lost to the Greyhounds in the finals in seven games. Penney tallied 13 goals and 30 points in 21 playoffs games.
Sault Ste. Marie Greyhounds (1992–1993) Considered an expensive acquisition in the Greyhounds' general manager
Sherry Bassin's attempt to win a
Memorial Cup and nothing more than a "hired gun", was also used as a
penalty killer by head coach
Ted Nolan. Penney finished the season recording 28 goals and 73 points, and helping the club reach the postseason. In the playoffs, Penney scored seven goals and 17 points in 18 games. On September 23, he was assigned to Ottawa's
American Hockey League (AHL) affiliate, the
Prince Edward Island Senators, to recuperate. He made his professional debut on October 13 in a 6–5 win over the
Moncton Hawks. He was recalled on October 20 after appearing in three games in the AHL, scoring two goals and five points. With Ottawa, Penney replaced
Vladimír Růžička, who was sidelined by injury. Penney made his NHL debut in the
1993–94 season on October 21 in a 6–5 overtime loss to the
Dallas Stars. In total, Penney appeared in three games, going scoreless, before Růžička returned from injury and Penney was sent back to Prince Edward Island. Playing on a line with former Centennials teammate Jason Firth and
Pavol Demitra, Penney scored 20 goals and 50 points in 73 games with Prince Edward Island. The team finished last in the Atlantic Division and missed the playoffs. Penney was assigned to Prince Edward Island during training camp in September 1994 ahead of the projected
1994–95 NHL lockout. Penney spent the entire
1994–95 season with PEI, scoring 16 goals and 32 points in 66 games. They faced the
Saint John Flames in the opening round, eliminating them in five games, earning the franchise its first playoff series victory. They faced the
Fredericton Canadiens in the second round, and Penney scored the team's first goal in the opening game Senators win in the series on April 27. However, the Senators were eliminated by Canadiens 4 games to 2. In 11 playoff games, Penney scored two goals and four points. After a series of injuries ravaged Ottawa's lineup, Penney was among the players recalled from the AHL in early October. Penney saw recorded 23 goals and 60 points in 79 games, playing on a line with Demitra and
Shawn Heaphy in December, and then on the team's top line with
Jean-Yves Roy and
Steve Guolla in March 1996. PEI qualified for the
playoffs once again, finishing tied for first in the division with the Saint John Flames, but took the title as division champions based on having more wins. They faced Fredericton in the first round and were eliminated in five games. Penney was scratched for games 2 and 3 after a poor opening game in the series. In three playoff games, Penney had a goal and two points. In September, Penney headed to the United Kingdom to sign for the
Manchester Storm of the
British Ice Hockey Superleague for the 1996–97 season. His debut was delayed by three weeks as he waited for a
work permit. He also added in one goal and two points in six playoff games, as the team failed to make the semi-finals. Early in the season, he went on a 15-game goalless drought, ending it with a two-goal performance on November 21 against the Fredericton Canadiens. Placed on a line with
Sean Haggerty and
Niklas Andersson, in 78 games, Penney had 16 goals and 37 points. The Thoroughblades made the
playoffs and faced the
Hershey Bears in the opening round best-of-five series. Hershey swept Kentucky in three games. Penney appeared in two playoff games and did not earn any points. He then signed with the
Colorado Gold Kings of the
West Coast Hockey League for the
1998–99 season. He was suspended for three games in December by the league, along with his coach. In 67 games, Penney scored 31 goals and 77 points, helping Colorado reach the postseason. In three playoff games, Penney had two assists. ==International play==