Cub Energy Inc.: Makeevskoye-21 Well Commences Production

Cub Energy Inc. ("Cub", or the "Company") (KUB.V) announces commencement of commercial production of the Makeevskoye-21 ("M-21") well in Ukraine at an initial rate of 1.7 million cubic feet per day ("MMcf/d") (.5 MMcf/d net to Cub). The well is operated by KUB-Gas LLC ("KUB-Gas"), a partially-owned subsidiary in which Cub has a 30% ownership interest.

Makeevskoye-21

The M-21 well was drilled to a total depth ("TD") of 2,210 metres in the first quarter of 2012 and cased to TD pending completion of the well for commercial gas production. On 19 June 2012 the Company disclosed that the R8 target zone had been tested at a rate of 3 MMcf/d.

Invicta Energy Announces Completion of 6 Well Drilling Program at Kindersley

Invicta Energy Corp. ("Invicta" or the "Company") (TSXV:VCA.V - News) is pleased to announce the completion of its second quarter 6 (3.3net) horizontal light oil well drilling program at Kindersley, Saskatchewan.  Due to wet weather conditions in the quarter four of these wells are still in initial flow back, but at favorable rates. The first two wells of the program have been producing for two months at an average rate of 45 and 75 Bbls/d, respectively.   Based on the initial production rates of the six wells, Invicta expects these wells to outperform the Company's forecasted type curve.  Current net field production is estimated to be over 400 Boe/d (85% light oil). As these wells stabilize they will be tied into the Company's production facilities.

Online Energy Inc. Provides an Operations Update

Online Energy Inc. ("Online" or the "Company") (ONL.V) is pleased to provide an update on the completion and testing of its Paddle River 1-5-55-7W5M Ostracod horizontal oil well.

The 1-5 well is the second Online 100% W.I. horizontal well on its Paddle River Ostracod oil project. It was drilled in March and reached a total depth of 3,089 metres, including a 1,254 metre horizontal trajectory. Completion operations, including a 14-stage multi-frac program, were recently completed. A total of 4,250 barrels of load fluid was pumped during the completion process. The well was subsequently production tested for a total of seven days. The well was swabbed-in for the first four days and was flowing for the final three days.

Progress Announces Increased Consideration under PETRONAS Arrangement

(TSX - PRQ) - Progress Energy Resources Corp. ("Progress" or the "Company") is pleased to announce that it has entered into an amending agreement (the "Amending Agreement") to the arrangement agreement dated June 27, 2012 as amended on July 19, 2012 (the "Arrangement Agreement") with PETRONAS International Corporation Ltd. ("PICL") and PETRONAS Carigali Canada Ltd. (the "Purchaser") which provides for the acquisition by the Purchaser of all of the outstanding common shares (the "Common Shares") of Progress and the acquisition by Progress of all of the outstanding 5.25% Convertible Unsecured Subordinated Debentures of Progress due October 31, 2014 (the "2014 Debentures") and the 5.75% Series B Convertible Unsecured Subordinated Debentures of Progress due June 30, 2016 (the "2016 Debentures" and together with the 2014 Debentures, the "Debentures").