"It [the tournament] hasn't quite started so it is a bit of that calm before the storm when you are excited to play.
"We have had two days of practice in Bilbao but we are excited to be here, we have worked so hard over the past seven weeks and hopefully we can come out and play the way we want to play."
Penney knows his first up opponents well, having spent the past few seasons playing in Turkey. But the side is in a difficult pool which includes global powerhouse the USA.
"I have never called our pool the pool of death. Every game is difficult and will be a challenge.
"We have watched these teams on film. I have never played Dominican Republic and haven't played Ukraine and Finland for a few years. Hard to say until we get on court but outside the USA we have to back ourselves against every team.
"Even [against] the USA, we have to get on the floor and enjoy the process. We played them in 2002 and in Florida in a friendly and maybe once more.
"They are so athletic. I know the guys will enjoy the opportunity. I am excited to just go at them and see what happens".