The former couple, who separated in August after a five-month fling, dined out at London restaurant Gauchio last night (January 25).
Price and Penna were later photographed walking through the city's streets with her brother Daniel, with the Argentinian model leaving the siblings to party at the Rose nightclub until 3.30am.
"I'm having a great night," Price wrote on Twitter, before referring to her rival Nicola McLean's eviction from Celebrity Big Brother: "And to top it up... heard the great news."
Reports circulated earlier this month that Penna tried to win back the glamour model-turned-businesswoman with a Christmas Day proposal.
Price recently joined a bizarre promotional campaign for Snickers on Twitter, which left followers questioning whether she had been hacked.