However, a return against Ulster on January 3 could be on the cards as his side look to accelerate away at the top - starting with Scarlets this Saturday - over the festive period.
The Ireland international has racked up 12 scores in 38 RaboDirect PRO12 appearances in his career so far but Penney admits he still has a little way to go before he is back in the red of Munster.
"Hopefully he will be back around Christmas, looking possibly at Ulster and that's if everything goes to plan," Penneytold the Irish Examiner.
"He's doing a little bit of running on a gravity treadmill and is making good progress to that end, but hasn't put the boots on yet or run around on grass."
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