Tamarack Valley Energy Ltd. Provides Buck Lake 3-34 Production Update

Tamarack Valley Energy Ltd. (TSX VENTURE:TVE) ("Tamarack" or the "Company") is pleased to announce that the 3-34-46-6 W5M Cardium oil well (75% working interest) continues to materially outperform the adjacent horizontal wells at Buck Lake. Production per boe from Tamarack's first horizontal well completed with a slick -water fracture stimulation is approximately 50% higher than the offsetting well at 4-34-46-6 W5M over similar time periods.

Tamarack completed its first Cardium slick water frac with an 18-stage stimulation at the 3-34 well in February, 2012 and it has averaged 551 boe/d (413 net) or 341 bbls/d (256 net) of oil and natural gas liquids and 1.26 mmcf/d (0.95 net) of natural gas over its first 30 days of production. At the end of 30 days the well is currently producing 579 boepd (434 net).

Published: 26 March 2012
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Africa Oil Corp.: Oil Discovery at Ngamia-1 Well in Kenya

Africa Oil Corp. ("Africa Oil" or the "Company") (TSX VENTURE:AOI)(OMX:AOI) is pleased to announce an oil discovery on the Ngamia-1 well on Block 10BB, Kenya. Tullow Oil plc ("Tullow") is the operator with a 50% working interest and Africa Oil holds the remaining 50%.

The Ngamia-1 exploration well in Kenya has encountered over 20 metres of net oil pay. The well, located in the Lokichar Basin of Kenya Block 10BB, was drilled to an intermediate depth of 1,041 metres and has been successfully logged and sampled. Moveable oil with API gravity in excess of 30 degrees, with similar properties to the light waxy crude discovered in Uganda, has been recovered to surface. The reservoirs in this section are composed of good quality Tertiary age sandstones. The Lokichar Basin, where the Ngamia discovery has been made, is one of seven basins mapped in Africa Oil's acreage and is similar in size to the 9,000 square kilometre Lake Albert Rift basin in Uganda.

Published: 26 March 2012
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Americas Petrogas Commences Testing Vaca Muerta Shale at Huacalera Hua.x-1 Well

Americas Petrogas Inc. (TSX VENTURE:BOE) ("Americas Petrogas" or the "Company") is pleased to report that the first stage of completion of the Hua.x-1 well (TD 13,450 feet), located on the 250,000 acre Huacalera block in the western region of Argentina's Neuquen Basin, was initiated in mid-February by Apache Corporation, the operator of the well. The first zone of interest being tested is a select 360 foot thick interval below 12,465 feet in the Vaca Muerta Shale, which has a gross thickness of 1,742 feet in the well. The zonal selection was made based on leading edge core and integrated petrophysical analyses carried out during late 2011. The selected interval appears to hold favorable flow potential based on the analyses. The hydraulic fracture stimulation was successfully completed in late February, placing just over 300,000 lbs of proppant in the formation.

Published: 23 March 2012
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Joint News Release Pengrowth Energy Corporation and NAL Energy Corporation Announce Strategic Business Combination

Pengrowth Energy Corporation ("Pengrowth") (TSX: PGF.TO - News) (NYSE: PGH - News) and NAL Energy Corporation ("NAL") (TSX: NAE.TO - News) (TSX: NAE-DB.TO - News) (TSX: NAE-DBA.TO - News) (TSX: NAE-DBB.TO - News) are pleased to announce that they have entered into an arrangement agreement (the "Arrangement") that provides for the strategic combination of Pengrowth and NAL.

Under the terms of the Arrangement, NAL shareholders will receive 0.86 of a Pengrowth share for each NAL share held (the "Exchange Ratio"). Based on the March 22, 2012 closing prices on the Toronto Stock Exchange (the "TSX") of Pengrowth and NAL, the Exchange Ratio reflects a premium of 9.7% for NAL shareholders.

Published: 23 March 2012
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Passport Energy Ltd. Announces Changes to the Board

Passport Energy Ltd. (PPO - CNSX)("Passport" or the "Company") announces that Thomas Lantz has resigned from the board of Passport Energy Ltd.  Mr. Lantz is stepping down due to his current workload and to avoid any conflicts of interest between Passport and its joint venture partner American Eagle Energy Corporation ("American Eagle"), whom Mr. Lantz is Chief Operating Officer. 

The Company also announces that Senator David Tkachuk has resigned from the board of Passport Energy Ltd. for personal reasons.

Passport wishes to thank both Mr. Lantz and Senator Tkachuk for their contributions to the board and wishes them all the best in future endeavors.

Published: 21 March 2012
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