Day: March 22, 2017

FOR: GIBSON ENERGY INC.
TSX SYMBOL: GEI

Date issue: March 22, 2017
Time in: 9:49 PM e

Attention:

CALGARY, ALBERTA–(Marketwired – March 22, 2017) –

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES

Gibson Energy Inc. (“Gibsons” or the “Company”) (TSX:GEI) announced today the
closing of its issuance of CDN$350 million aggregate principal amount of 5.25%
senior unsecured notes due July 15, 2024 (the “Notes”) on an exempt private
placement basis (the “Private Placement”). The net proceeds of the Private
Placement, along with a portion of the net proceeds from the previously
announced sale of the Company’s Industrial Propane Business, were utilized to
purchase CDN$211,052,000 of its 7.000% senior notes due 2020 and US$338,800,000
of its 6.75% senior notes due 2021 pursuant to the tender offer announced on
March 8, 2017.

“Today’s closing of the Private Placement, in combination with the early
settlement of the tender offer, strengthens the Company’s balance sheet by
reducing our long-term indebtedness, decreasing annual interest costs and
extending our debt maturity profile,” said Sean Brown, Gibsons’ Chief Financial
Officer.

The Notes have not been and will not be registered under the United States
Securities Act of 1933, as amended (the “Securities Act”), or applicable state
securities laws, and may not be offered or sold in the United States absent
registration or an applicable exemption from the registration requirements of
the Securities Act and applicable state securities laws. The Notes have not
been and will not be qualified for sale to the public under applicable Canadian
securities laws and, accordingly, any offer and sale of the Notes in Canada
will be made on a basis which is exempt from the prospectus requirements of
such securities laws. The securities mentioned herein will be offered and sold
only to qualified institutional buyers in accordance with Rule 144A under the
Securities Act and outside the United States to non-U.S. persons in reliance on
the “accredited investor” prospectus exemption in Canada and Regulation S under
the Securities Act.

This press release does not constitute an offer to sell or purchase, or a
solicitation of an offer to sell or purchase, any securities. No offer,
solicitation, purchase or sale of securities will be made in any jurisdiction,
in which such an offer, solicitation, purchase or sale would be unlawful.

About Gibsons

Gibsons is a Canadian-based midstream energy company with operations in most of
the key hydrocarbon-rich basins in North America. For over 60 years, Gibsons
has delivered integrated midstream solutions to customers in the oil and gas
industry. With headquarters in Calgary, Alberta, the Company’s North American
operations include the storage, blending, processing, transportation, marketing
and distribution of crude oil, natural gas liquids and refined products. The
Company also provides oilfield waste and water management services.

Gibsons’ shares trade under the symbol GEI and are listed on the Toronto Stock
Exchange. For more information, visit www.gibsons.com.

Forward-Looking Statements

Certain statements contained in this news release constitute forward-looking
information and statements (collectively, “forward-looking statements”)
including, but not limited to, statements concerning the Company’s liquidity
and future capital expenditures. These statements relate to future events or
the Company’s future performance. All statements other than statements of
historical fact are forward-looking statements. The use of any of the words
“anticipate”, “plan”, “contemplate”, “continue”, “estimate”, “expect”,
“intend”, “propose”, “might”, “may”, “will”, “shall”, “project”, “should”,
“could”, “would”, “believe”, “predict”, “forecast”, “pursue”, “potential” and
“capable” and similar expressions are intended to identify forward-looking
statements. These statements involve known and unknown risks, uncertainties and
other factors that may cause actual results or events to differ materially from
those anticipated in such forward-looking statements. No assurance can be given
that these expectations will prove to be correct and such forward-looking
statements included in this news release should not be unduly relied upon.
These statements speak only as of the date of this news release. In addition,
this news release may contain forward-looking statements and forward-looking
information attributed to third party industry sources. The Company does not
undertake any obligations to publicly update or revise any forward looking
statements except as required by securities law. Actual results could differ
materially from those anticipated in these forward-looking statements as a
result of numerous risks and uncertainties including, but not limited to, the
risks and uncertainties described in “Forward-Looking Statements” and “Risk
Factors” included in the Company’s Annual Information Form dated March 7, 2017
as filed on SEDAR and available on the Gibsons website at www.gibsons.com.

– END RELEASE – 22/03/2017

For further information:
Gibson Energy Inc.
Tammi Price
Vice President Finance & Corporate Affairs
(403) 206-4212
tprice@gibsons.com

COMPANY:
FOR: GIBSON ENERGY INC.
TSX SYMBOL: GEI

INDUSTRY: Energy and Utilities – Oil and Gas
RELEASE ID: 20170322CC0123

Press Release from Marketwired 1-866-736-3779

All press releases are written by the client and have NO affiliation with the news copy written by The Canadian Press. Any questions that arise due to the content or information provided in the press release should be directed to the company/organization
issuing the release, not to The Canadian Press.

FOR: GRANITE OIL CORP.
TSX SYMBOL: GXO
OTCQX SYMBOL: GXOCF

Date issue: March 22, 2017
Time in: 8:27 PM e

Attention:

CALGARY, ALBERTA–(Marketwired – March 22, 2017) – GRANITE OIL CORP. (“Granite”
or the “Company”) (TSX:GXO)(OTCQX:GXOCF) is pleased to release its financial
results for the year ended December 31, 2016, and to provide an overview of the
operational highlights of the 2016 financial year. Granite has filed its
audited financial statements for the year ended December 31, 2016 and related
Management Discussion & Analysis with the applicable Canadian securities
regulatory authorities. Granite’s annual financial materials may be viewed in
their entirety on www.sedar.com and on the Company’s website at
www.graniteoil.ca.

2016

Granite’s focus in 2016 continued to be setting up its unique, large
oil-in-place asset for the long-term, with the goal of maximizing value and
returns to our shareholders. Despite challenging times in the industry, the
Company made significant strides during the year towards this goal through its
organic development formula. With its Gas Injection Enhanced Oil Recovery
(“EOR”) scheme up to speed and efficiency gains realized across the board, the
Company has proven its ability to add producing barrels at costs that offer
returns during periods of low commodity prices. With twenty years of potential
drilling opportunities and most of its oil yet to be recovered, the Company is
confident it offers its shareholders a model for long-term, consistent, organic
returns.

2016 Financial and Operating Highlights

Financial and operational highlights for the three and twelve month periods
ended December 31, 2016 are set out below and should be read in conjunction
with the financial statements and related management’s discussion and analysis
for the year ended December 31, 2016 that are available for review at
www.graniteoil.ca and www.sedar.com. This is the sixth interim period completed
by Granite following its disposition of certain oil and gas properties pursuant
to its May 2015 corporate reorganization. Prior period information is not
presented in the following table due to its limited comparability resulting
from these dispositions.

/T/

—————————————————————————-

Three Months Ended Twelve Months Ended
December 31 December 31
—————————————————————————-
2016 2016
—————————————————————————-
(000s, except per share amounts) ($) ($)
FINANCIAL
Oil and natural gas revenues 14,072 45,508
Funds from operations (1) 6,203 24,236
Per share – basic 0.18 0.75
Per share – diluted (2) 0.18 0.74
Cash flow from operating
activities 6,405 26,510
Net income (loss) (1,061) (7,277)
Per share – basic (0.03) (0.22)
Per share – diluted (2) (0.03) (0.22)
Capital expenditures (3) 5,326 21,623
Net debt (4) 31,763 31,763
Shareholders’ equity 214,346 214,346
—————————————————————————-
(000s) (#) (#)
SHARE DATA
At period-end 33,672 33,672
Weighted average – basic 33,663 32,375
Weighted average – diluted 33,902 32,675
—————————————————————————-

—————————————————————————-
OPERATING (5)
Production

Natural gas (mcf/d)(6) 299 184
Crude oil (bbls/d) 2,928 2,835
Total (boe/d) 2,978 2,866
Average wellhead prices
Natural gas ($/mcf) 3.17 2.19
Crude oil and NGLs ($/bbl) 51.85 43.59
Combined average ($/boe)(7) 51.30 43.26
Netbacks
Operating netback ($/boe) (8) 27.60 27.69
Reserves
Proved (mboe) 12,483 12,483
Proved plus probable 18,653 18,653
Total net present value – proved
plus probable (10% discount
before taxes) 292,193 292,193
Undeveloped Land
Gross (acres) 381,554 381,554
Net (acres) 379,734 379,734
Gross (net) wells drilled
Oil (#) 3 (3.0) 10 (10.0)
Dry and abandoned (#) – (-) – (-)
—————————————————————————-
Total (#) 3 (3.0) 10 (10.0)
Average working interest (%) 100 100
—————————————————————————-
(1) Funds from operations and funds from operations per share are not
recognized measures under International Financial Reporting Standards
(IFRS). Refer to the commentary in the “Reader Advisory” under “Non-
GAAP Measurements” for further discussion.

(2) The Company uses the weighted average common shares (basic) when there

is a net loss for the period to calculate net income (loss) per share
diluted. The Company uses the weighted average common shares (diluted)
to calculate the funds from operations diluted.

(3) Total capital expenditures, excluding acquisitions and excluding non-

cash transactions.

(4) Net debt, which is calculated as current liabilities (excluding

derivative financial instruments) and bank debt less current assets
(excluding derivative financial instruments), is not a recognized
measure under IFRS. Please refer to the commentary in the “Reader
Advisory” under “Non-GAAP Measurements” for further discussion.

(5) For a description of the boe conversion ratio, refer to the commentary

in the “Reader Advisory” under “BOE Presentation”.

(6) Commencing in March 2016, the Company began injecting the majority of

its natural gas production into the Alberta Bakken property pursuant to
the EOR scheme.

(7) Combined average realized prices includes all oil, gas and NGL sales

revenue, excluding other income.

(8) Operating netback, which is calculated by deducting royalties,

operating expenses and transportation expenses from oil and gas revenue
and adjusting for any realized hedging on financial instruments, is not
a recognized measure under IFRS. Please refer to the commentary in
“Reader Advisory” under “Non-GAAP Measurements” for further discussion.

/T/

2016 Highlights

/T/

— Record finding and development costs, including the change in future

development capital:
— $13.02/boe on a proved developed producing basis, resulting in a
recycle ratio of 2.1 times;
— $4.96/boe on a total proved basis, resulting in a recycle ratio of
5.6 times; and
— $4.62/boe on a proved plus probable basis, resulting in a recycle
ratio of 6.0 times.

— Executed a $21.5 million, 100% organic capital expenditure program on

the Company’s Bakken Property, a 46% decrease in year-over-year
expenditures, with the following highlights:
— Drilled 10 (10.0 net) wells with a success rate of 100%, and reduced
the average well cost to $1.25 million, a 50% year-over-year
decrease;
— Converted three producing wells to gas injectors and increased gas
injection rates under the EOR scheme by 66%; and
— Acquired 50,000 net acres of strategic Bakken lands.

— Continued improvement in drilling results throughout the year, with gas

injection and completion-optimization strategies providing consistent
well results from its second-half, five-well drilling program, with
average IP rates of:
— IP30 of 294 bbls/d of oil
— IP90 of 213 bbls/d of oil
— IP180 of 192 bbls/d of oil

— Continued to improve overall decline rates with up to 15 wells currently

flowing oil, including several restricted wells, as the Company
optimizes its injection scheme.

— Proved the effectiveness of 200 metre well spacing within the area of

its gas injection EOR scheme. With drilling inventory of over 130
potential well locations considered to be material, the Company has 20
years of development and exploitation opportunities on its Bakken
Property under its current model.

— Following strategic Corporate reorganization decisions made in 2016, the

Company’s G&A is budgeted to drop 25% to $2.25/boe in 2017 as it
continues to realize efficiency gains. The Company recorded a one-time
severance charge in the fourth quarter.

— The Company achieved operating costs of $6.65/boe for the fourth quarter

of 2016 excluding an adjustment booked in the period relating primarily
to prior year’s facility equalization expenses.

— Maintained a strong balance sheet, exiting the year with $31.8 million

of net debt on a current bank line of $60 million.

/T/

2017 Operations Update

Granite’s drilling success continued into 2017 with the three wells drilled in
the first quarter performing comparably to the best wells of 2016. Two of the
three wells drilled in the first quarter tested reduced offset spacing of just
over 100 meters with the goal of further improving long-term oil recovery from
the pool. The Company is encouraged by the positive results from these wells
and the implication these results have on increasing the Company’s potential
drilling inventory and ultimate oil recovery.

With increased demand for oilfield services, the Company faced delays in
accessing both cementing and hydraulic fracturing crews during the quarter,
delaying on-stream production from the wells drilled in the first quarter. The
Company believes it can mitigate these delays with further operational
improvements and timing advantages going forward.

The Company continued to expand the gas injection EOR infrastructure in the
first quarter with the conversion of one formerly producing oil well to a gas
injection well and shut-in a second producing well in preparation for
conversion early in the second quarter. As well, approximately 2,000 horsepower
of additional gas injection compression facilities were set on site. These
facilities will be brought on-stream in the second quarter to take advantage of
lower demand for services during spring break up and will increase total
injection horsepower by approximately 52%. This will provide compression
capacity that will support several years of drilling.

The Company’s first quarter production is expected to average approximately
3,100 boe/d (95% oil), despite service delays and adverse weather conditions.

2017 Outlook

With the efficiency gains made throughout 2016 and its increasingly solid
production base, Granite is well-positioned to manage continued uncertainty in
commodity pricing throughout 2017. Capital expenditures for 2017 are expected
to total $16.5 million, a 23% decrease year-over-year, and result in average
production growth of 7% to approximately 3,050 bbl/d of oil, with the yearly
dividend maintained at $0.42 per share. With an average WTI price of $55 USD
this will result in year-end net debt of $33.2 million and a net debt to cash
flow ratio of 1.1. Anticipated capital expenditures include approximately $3.0
million allocated towards high-impact, strategic exploration and pool
delineation projects, which Granite has the flexibility to adjust should
commodity prices warrant. Additionally, the Company is well-hedged through
2017, with 1,000 bbl/d hedged at an average price of $48.05 USD/bbl through the
first half of 2017, and 750 bbl/d hedged at an average price of $52.23 USD/bbl
through the second half of 2017, reducing its exposure to price volatility.

With the capital program dedicated predominantly towards drilling and the
efficiency at which Granite can add producing barrels, Granite is confident it
will continue to add value to shareholders despite the challenges in the
commodity price environment.

Reader Advisories

Forward-Looking Statements. Certain statements contained in this news release
may constitute forward-looking statements or information (collectively,
“forward-looking statements” or “statements”). These statements relate to
future events or Granite’s future performance. All statements other than
statements of historical fact may be forward-looking statements.
Forward-looking statements are often, but not always, identified by the use of
words such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”,
“may”, “will”, “project”, “predict”, “potential”, “targeting”, “intend”,
“could”, “might”, “should”, “believe” and similar expressions. Statements
relating to “reserves” are also deemed to be forward-looking statements, as
they involve the implied assessment, based on certain estimates and
assumptions, that the reserves described exist in the quantities predicted or
estimated and that the reserves can be profitably produced in the future. These
statements involve known and unknown risks, uncertainties and other factors
that may cause actual results or events to differ materially from those
anticipated in such forward-looking statements. In particular, this news
release contains forward-looking statements, pertaining to the following:
forecasted capital expenditures and plans, drilling and development plans,
Granite’s financial strength, anticipated production rates, projections of
market prices and costs, supply and demand for oil and natural gas, the
quantity of reserves, oil and natural gas production levels, the success of the
enhanced oil recovery scheme,, treatment under governmental regulatory and
taxation regimes and expectations regarding Granite’s ability to raise capital
and to continually add to reserves through acquisitions and development.

Granite believes the expectations reflected in such forward-looking statements
and the assumptions upon which such forward-looking statements are based, to be
reasonable, but no assurance can be given that these expectations will prove to
be correct and such forward-looking statements included in this news release
should not be unduly relied upon by investors. These statements speak only as
of the date of this news release and are expressly qualified, in their
entirety, by this cautionary statement. Granite’s actual results could differ
materially from those anticipated in these forward-looking statements as a
result of risk factors that may include, but are not limited to: volatility in
the market prices for oil and natural gas; general economic conditions, stock
market volatility and ability to access sufficient capital from internal and
external sources, uncertainties associated with estimating reserves;
uncertainties associated with Granite’s ability to obtain additional financing
on satisfactory terms; geological, technical, drilling and processing problems;
liabilities and risks, including environmental liabilities and risks, inherent
in oil and natural gas operations; incorrect assessments of the value of
acquisitions; competition for, among other things, capital, acquisitions of
reserves, undeveloped lands and skilled personnel. Readers are cautioned that
the foregoing list of factors is not exhaustive. Management has included the
above summary of assumptions and risks related to forward-looking information
provided in this news release in order to provide securityholders with a more
complete perspective on Granite’s future operations and such information may
not be appropriate for other purposes. Additional information on these and
other factors that could affect Granite’s operations and financial results are
included in reports on file with Canadian securities regulatory authorities and
may be accessed through the SEDAR website (www.sedar.com).

With respect to forward-looking statements contained in this news release,
Granite has made assumptions regarding, among other things: prevailing
commodity prices, exchange rates, interest rates, applicable royalty rates and
tax laws; the legislative and regulatory environments of the jurisdictions
where Granite carries on business or has operations; future production rates
and estimates of operating costs; performance of existing and future wells;
reserve and resource volumes; anticipated timing and results of capital
expenditures; the success obtained in drilling new wells; the sufficiency of
budgeted capital expenditures in carrying out planned activities; the timing,
location and extent of future drilling operations; the state of the economy and
the exploration and production business; results of operations; performance;
business prospects and opportunities; the availability and cost of financing,
labour and services; the impact of increasing competition; ability to market
oil and natural gas successfully and Granite’s ability to obtain additional
financing on satisfactory terms.

The forward-looking statements represent Granite’s views as of the date of this
document and such information should not be relied upon as representing its
views as of any date subsequent to the date of this document. Granite has
attempted to identify important factors that could cause actual results,
performance or achievements to vary from those current expectations or
estimates expressed or implied by the forward-looking information. However,
there may be other factors that cause results, performance or achievements not
to be as expected or estimated and that could cause actual results, performance
or achievements to differ materially from current expectations. There can be no
assurance that forward-looking statements will prove to be accurate, as results
and future events could differ materially from those expected or estimated in
such statements. Accordingly, readers should not place undue reliance on
forward-looking information. Except as required by law, the Company undertakes
no obligation to publicly update or revise any forward-looking statements.

Non-GAAP Measurements. This news release contains the terms “net debt”, which
represent current assets less current liabilities, excluding current derivative
financial instruments, is used to assess efficiency, liquidity and the
Company’s general financial strength. No IFRS measure is reasonably comparable
to working capital deficit. This press release uses the term “operating
netback” or “netback”, which is calculated by deducting royalties, operating
expenses and transportation expenses from oil and gas revenue and adjusting for
any realized hedging on financial instruments, is not a recognized measure
under IFRS.

BOE Presentation. References herein to “boe” mean barrels of oil equivalent
derived by converting gas to oil in the ratio of six thousand cubic feet (Mcf)
of gas to one barrel (bbl) of oil. Boe may be misleading, particularly if used
in isolation. A boe conversion ratio of 6 Mcf: 1 bbl is based on an energy
conversion method primarily applicable at the burner tip and does not represent
a value equivalency at the wellhead. In addition, given that the value ratio
based on the current price of crude oil as compared to natural gas is
significantly different from the energy equivalency of 6:1, utilizing a
conversion on a 6:1 basis may be misleading as an indication of value.

– END RELEASE – 22/03/2017

For further information:
Granite Oil Corp.
Michael Kabanuk
President & CEO
(587) 349-9123
OR
Granite Oil Corp.
Tyler Klatt
V.P. Exploration
(587) 349-9125

COMPANY:
FOR: GRANITE OIL CORP.
TSX SYMBOL: GXO
OTCQX SYMBOL: GXOCF

INDUSTRY: Energy and Utilities – Oil and Gas
RELEASE ID: 20170322CC0122

Press Release from Marketwired 1-866-736-3779

All press releases are written by the client and have NO affiliation with the news copy written by The Canadian Press. Any questions that arise due to the content or information provided in the press release should be directed to the company/organization
issuing the release, not to The Canadian Press.

FOR: FINANCIAL EXECUTIVES INTERNATIONAL CANADA (FEI CANADA)

Date issue: March 22, 2017
Time in: 5:36 PM e

Attention:

TORONTO, ON –(Marketwired – March 22, 2017) – FEI Canada, the country’s
leading association for CFOs and senior financial executives, applauds
measures to foster innovation and job training, which will enhance the
competitiveness of Canadian businesses.

“These proposals are sure to be welcomed by Canadian entrepreneurs, start-ups
and other businesses which are trying to stay one step ahead of their
international rivals through research and development,” said Norm Ferguson,
Chair of Canada’s Policy Forum.

FEI Canada recommended in its fall pre-budget submission that the federal
government should:

/T/

— Increase support for innovation, with an emphasis on commercialization,

and permit companies to issue flow-through shares.
— Increase collaboration with industry, startups, government and academia,
encouraging start-ups to move to commercialization and remain in Canada.
— Invest in pipelines, rail and highway networks as part of its
infrastructure focus, to enhance Canada’s export ability (using the P3
model where appropriate).

/T/

FEI Canada also praised the fact that the government did not increase the
federal capital gains inclusion rate at this time.

“Any tax increase on capital gains from investments has the possibility of
reducing investment in businesses in Canada, negatively impacting job
creation, so we are pleased to see this,” said Sandra Pereira, Co-Chair of FEI
Canada’s tax committee. “We need to be careful about discouraging investment
in Canada since this is a major driver of our economy.”

“FEI Canada believes that, in ordinary course, government should balance
budgets and reduce the debt-to-GDP ratio without raising taxes, to be globally
competitive and remain attractive for capital investment,” said Michael
Conway, President and CEO of FEI Canada. “At this stage, FEI Canada agrees
with the government’s announcement of continued investment in infrastructure
and enhancements to the innovation funding to stimulate Canada’s economy.”

FEI Canada is the all-industry professional membership association for senior
financial executives. With 11 chapters across Canada, it seeks to bring
together senior financial executives to further enhance their leadership
skills and broader management knowledge. The association membership, which
consists of chief financial officers, audit committee directors and senior
executives in the finance, controller, treasury and taxation functions,
represents a significant number of Canada’s leading and most influential
corporations. For more information, please visit www.feicanada.org. Follow us
on Twitter @FEICanada.

– END RELEASE – 22/03/2017

For further information:

Contact:

Laura Bobak
Research & Communications Manager
FEI Canada
lbobak@feicanada.org
416-366-3007 Ext. 5103
Mobile: 416-817-2192

COMPANY:
FOR: FINANCIAL EXECUTIVES INTERNATIONAL CANADA (FEI CANADA)

INDUSTRY: Professional Services – Associations
RELEASE ID: 20170322CC017

Press Release from Marketwired 1-866-736-3779

All press releases are written by the client and have NO affiliation with the news copy written by The Canadian Press. Any questions that arise due to the content or information provided in the press release should be directed to the company/organization
issuing the release, not to The Canadian Press.

FOR: DXI ENERGY INC.
TSX SYMBOL: DXI
OTCQB SYMBOL: DXIEF

Date issue: March 22, 2017
Time in: 5:15 PM e

Attention:

Consolidated Petroleum & Natural Gas Reserves of $23MM at December 31, 2016

VANCOUVER, BRITISH COLUMBIA–(Marketwired – March 22, 2017) – DXI Energy Inc.
(TSX:DXI)(OTCQB:DXIEF) (“DXI” or the “Company”), an upstream oil and gas
exploration and production company operating in Colorado’s Piceance Basin and
the Peace River Arch region in British Columbia, today announced its financial
results for the three and twelve month periods ended December 31, 2016.

2016 Key Financial and Operating Highlights are:

/T/

1. Retired the Company’s bank loan and related credit facility with a
Canadian bank;
2. Completed a $995,800 private placement;
3. Decreased G&A expenses for the year ended December 31, 2016 by $675,000
(30%) to $1.6 million in response to a 24% decrease in average realized
prices per BOE from 2015 to 2016; and
4. Decreased the loss for the year ended December 31, 2016 to $5.5 million
from $7.1 million for the comparative period ended December 31, 2015.

/T/

CORPORATE SUMMARY – THREE AND TWELVE MONTHS ENDED DECEMBER 31, 2016

/T/

—————————————————————————-

Three months ended Twelve months ended
OPERATIONS December 31, December 31,
—————————————————————————-
2016 2015 Change 2016 2015 Change
—————————————————————————-
Production
—————————————————————————-
Oil and natural gas
liquids (bbls/d) 106 515 -80% 209 369 -43%
—————————————————————————-
Natural gas (mcf/d) 1,327 2,773 -52% 1,666 1,764 -6%
—————————————————————————-
Combined (BOE/d) 327 977 -67% 487 663 -27%
—————————————————————————-

—————————————————————————-
Realized sales prices
—————————————————————————-

Oil and natural gas
liquids ($/bbl) 57.53 46.72 23% 43.25 52.68 -18%
—————————————————————————-
Natural gas ($/mcf) 3.28 2.26 45% 2.47 2.33 6%
—————————————————————————-

—————————————————————————-
Operating expenses
—————————————————————————-

Oil operations ($/bbl) 21.63 10.62 104% 18.31 13.39 37%
—————————————————————————-
Natural gas operations
($/mcf) 3.21 3.27 -2% 2.59 3.19 -19%
—————————————————————————-

—————————————————————————-
Operating netback
—————————————————————————-

Oil operations ($/bbl) (1) 27.44 26.79 2% 17.45 29.04 -40%
—————————————————————————-
Natural gas operations
($/BOE) (2) -1.77 -7.91 -78% -2.32 -6.09 -62%
—————————————————————————-

—————————————————————————-
General and administrative
expenses ($/BOE) 10.01 6.85 46% 8.82 9.28 -5%
—————————————————————————-
Notes:
(1) Decline for the year ended December 31, 2016 due to the reduction in oil
production at Woodrush combined with 18% reduction in oil prices.
(2) Decline for the three and twelve months ended December 31, 2016 due to
the reduction in natural gas production combined with the reduction in gas
prices.

—————————————————————————-
FINANCIAL (CA$ thousands, Three months ended Twelve months ended
except per share) December 31, December 31,
—————————————————————————-
2016 2015 Change 2016 2015 Change
—————————————————————————-

—————————————————————————-
Revenue 558 2,206 -75% 3,306 7,093 -53%
—————————————————————————-
Royalties 396 562 -30% 1,502 1,486 1%
—————————————————————————-

—————————————————————————-
Cash flow(1) -207 164 -226% -1,017 860 -218%
—————————————————————————-
Cash flow per share (basic) -0.00 0.00 0% -0.02 0.02 -203%
—————————————————————————-
Cash flow per share
(diluted) -0.00 0.00 0% -0.02 0.02 -203%
—————————————————————————-

—————————————————————————-
Net loss 2,366 3,827 -38% 5,486 7,108 -23%
—————————————————————————-
Basic loss ($/common share) 0.05 0.10 -50% 0.13 0.19 -33%
—————————————————————————-
Diluted loss ($/common
share) 0.05 0.10 -50% 0.13 0.19 -33%
—————————————————————————-

—————————————————————————-
Capital expenditures, net of
dispositions 53 1,236 -96% 530 5,738 -91%
—————————————————————————-

—————————————————————————-
Weighted average common
shares outstanding
(thousands)
—————————————————————————-
Basic 44,808 36,505 23% 42,095 36,492 15%
—————————————————————————-
Diluted 44,808 36,505 23% 42,095 36,492 15%
—————————————————————————-

—————————————————————————-
Debt, net of working capital 11,075 10,697 4%
—————————————————————————-
Note 1: “Cash flow” is a non-IFRS measure calculated by adding back
settlement of decommissioning liabilities and change in operating working
capital to cash flows from (used in) operating activities. See “Non-IFRS
Measure” below for details.

/T/

SUPPLEMENTAL FINANCIAL INFORMATION – NON-IFRS MEASURE

/T/

—————————————————————————-

Three months ended Twelve months ended
December 31, December 31,
(CA$ thousands) 2016 2015 2016 2015
—————————————————————————-

Cash flows from (used in) operating
activities (1,005) 371 (350) 1,064
Change in operating working capital 798 (207) (667) (204)
—————————————————————————-
Cash flow (207) 164 (1,017) 860
—————————————————————————-
—————————————————————————-

/T/

RESERVES

Independent Reserves Evaluation

DXI’s reserves were evaluated by independent evaluators as at December 31, 2016
in accordance with National Instrument 51-101 – Standards of Disclosure for Oil
and Gas Activities (“NI 51-101”). GLJ Petroleum Consultants (“GLJ”) were
retained by the Company to evaluate it Canadian properties and Gustavson
Associates (“Gustavson”) were retained by the Company to evaluate its US
properties. The reserves evaluation was based on forecast pricing as outlined
in the notes to the table below entitled “Forecast Prices in 2016 Reserves
Report”. Additional reserves disclosures are included in the Company’s AIF for
the year ended December 31, 2016.

Summary of Reserves as at December 31, 2016(1)

/T/

—————————————————————————-

Natural Oil % of Proved
Oil Gas NGL Equivalent Plus Probable
(MBBL) (MMCF) (MBOE) (MBOE) Reserves
—————————————————————————-
Proved
Developed Producing 96 1,984 71 498 4%
Developed Non-Producing – 462 12 89 1%
Undeveloped – 35,094 1,923 7,771 60%
—————————————————————————-
Total Proved 96 37,540 2,006 8,358 65%
Total Probable 35 21,088 1,131 4,680 35%
—————————————————————————-
Total Proved and
Probable 131 58,628 3,137 13,038 100%
—————————————————————————-
—————————————————————————-
Note 1: Reserves means DXI’s working interest reserves before deduction of
royalties and without including any royalty interests.

/T/

Summary of Net Present Values, Before Tax

/T/

—————————————————————————-

Discounted at
(CA$ thousands) 0% 5% 10% 15% 20%
—————————————————————————-
Proved
Developed Producing 4,351 3,806 3,441 3,169 2,953
Developed Non-Producing 643 540 473 427 391
Undeveloped 45,639 23,322 11,271 4,028 (661)
—————————————————————————-
Total Proved 50,633 27,668 15,185 7,624 2,683
Total Probable 30,398 15,427 7,988 3,917 1,547
—————————————————————————-
Total Proved and Probable 81,031 43,095 23,173 11,541 4,230
—————————————————————————-
—————————————————————————-

/T/

Future Development Costs

/T/

————————————————————

Proved plus
(CA$ thousands) Proved Reserves Probable Reserves
————————————————————
2017 21,146 21,146
2018 20,946 20,946
2019 10,876 20,141
2020 – 20,543
2021 – 1,209
Remainder 705 1,093
————————————————————
Total Undiscounted 53,673 85,078
————————————————————
————————————————————

/T/

Forecast Prices in 2016 Reserves Report

The following table summarizes the first five years of the forecast prices used
by GLJ and Gustavson in preparing DXI Energy’s estimated reserve volumes and
net present values of future net revenues in the 2016 reserves report.

/T/

—————————————————————————-

GLJ Gustavson
———————————- ———————————–
NGL NGL
(Edmonton Crude oil Natural gas (Williams
Natural gas Pentanes (Edmonton (NYMEX Fork Condensate
(AECO) Plus) Par) Henry Hub) Wellhead) (NYMEX)
Year Cdn$ / mmbtu Cdn$ / bbl Cdn$ / bbl US$ / mmbtu US$ / bbl US$ / bbl
—————————————————————————-
2017 3.46 72.11 69.33 3.42 38.39 42.05
2018 3.10 74.79 72.26 2.96 33.20 42.49
2019 3.27 78.75 75.00 3.21 36.02 42.09
2020 3.49 79.80 76.36 3.33 37.37 42.01
2021 3.67 82.37 78.82 3.44 38.62 42.15
2022+ See AIF for additional details
—————————————————————————-

/T/

About DXI ENERGY INC.

DXI Energy Inc. is an upstream oil and natural gas exploration and production
company operating projects in Colorado’s Piceance Basin (25,684 net acres) and
the Peace River Arch region in British Columbia (14,444 net acres). DXI Energy
Inc. maintains offices in Calgary and Vancouver, Canada. The company is
publicly traded on the Toronto Stock Exchange (DXI.TO) and the OTCQB (DXIEF).

Statements Regarding Forward-Looking Information: This news release contains
statements about oil and gas production and operating activities that may
constitute “forward-looking statements” or “forward-looking information” within
the meaning of applicable securities legislation as they involve the implied
assessment that the resources described can be profitably produced in the
future, based on certain estimates and assumptions. Forward-looking statements
are based on current expectations, estimates and projections that involve a
number of risks, uncertainties and other factors that could cause actual
results to differ materially from those anticipated by DXI Energy and described
in the forward-looking statements. These risks, uncertainties and other factors
include, but are not limited to, adverse general economic conditions, operating
hazards, drilling risks, inherent uncertainties in interpreting engineering and
geologic data, competition, reduced availability of drilling and other well
services, fluctuations in oil and gas prices and prices for drilling and other
well services, government regulation and foreign political risks, fluctuations
in the exchange rate between Canadian and US dollars and other currencies, as
well as other risks commonly associated with the exploration and development of
oil and gas properties. Additional information on these and other factors,
which could affect DXI Energy Inc.’s operations or financial results, are
included in DXI Energy Inc.’s reports on file with Canadian and United States
securities regulatory authorities. We assume no obligation to update
forward-looking statements should circumstances or management’s estimates or
opinions change unless otherwise required under securities law.

The TSX does not accept responsibility for the adequacy or accuracy of this
news release.

Follow DXI Energy’s latest developments on: Facebook
http://facebook.com/dxienergy and Twitter @dxienergy.

– END RELEASE – 22/03/2017

For further information:
DXI Energy Inc.
Robert L. Hodgkinson
Chairman & CEO
604-638-5055
investor@dxienergy.com
OR
Craig Allison
Investor Relations- New York
914-882-0960
callison@dxienergy.com

COMPANY:
FOR: DXI ENERGY INC.
TSX SYMBOL: DXI
OTCQB SYMBOL: DXIEF

INDUSTRY: Energy and Utilities – Oil and Gas
RELEASE ID: 20170322CC0093

Press Release from Marketwired 1-866-736-3779

All press releases are written by the client and have NO affiliation with the news copy written by The Canadian Press. Any questions that arise due to the content or information provided in the press release should be directed to the company/organization
issuing the release, not to The Canadian Press.

FOR: MIDWEST ENERGY EMISSIONS CORP.
OTCQB Symbol: MEEC

Date issue: March 22, 2017
Time in: 4:05 PM e

Attention:

LEWIS CENTER, OH –(Marketwired – March 22, 2017) – Midwest Energy Emissions
Corp. (OTCQB: MEEC) (“ME2C” or the “Company”), a leader in mercury emissions
control in North America, will report its financial results after the market
closes on Monday, March 27, 2017, for the fourth quarter and full year ended
December 31, 2016.

Management will host a conference call at 5:00 p.m. Eastern time on March 27,
2017, to discuss ME2C’s fourth quarter and fiscal year 2016 results, provide a
corporate update, and conclude with a Q&A from participants. To participate,
please use the following information:

Conference Call and Webcast
Date: Monday, March 27, 2017
Time: 5:00 p.m. Eastern time
U.S. Dial-in: 1-888-600-4885
International Dial-in: 1-913-312-0381
Conference ID: 8414605
Webcast: http://public.viavid.com/index.php?id=123329

Please dial in at least 10 minutes before the start of the call to ensure
timely participation. A playback of the call will be available through May 27,
2017. To listen, call 1-844-512-2921 within the United States or
1-412-317-6671 when calling internationally. Please use the replay pin number
8414605.

About Midwest Energy Emissions Corp. (ME2C)
Midwest Energy Emissions Corp. (OTCQB: MEEC) delivers patented and proprietary
solutions to the global coal-power industry to remove mercury from power plant
emissions, providing performance guarantees, and leading-edge emissions
services. The U.S. Environmental Protection Agency (EPA) MATS rule, which has
been subject to legal challenges, requires that all coal- and oil-fired power
plants in the U.S., larger than 25 mega-watts, must remove roughly 90% of
mercury from their emissions starting April 15, 2015. ME2C has developed
patented technology and proprietary products that have been shown to achieve
mercury removal levels compliant with MATS at a significantly lower cost and
with less operational impact than currently used methods, while preserving the
marketability of fly-ash for beneficial use. For more information, please
visit www.midwestemissions.com.

Safe Harbor Statement
With the exception of historical information contained in this press release,
content herein may contain “forward-looking statements” that are made pursuant
to the Safe Harbor Provisions of the Private Securities Litigation Reform Act
of 1995. Forward-looking statements are generally identified by using words
such as “anticipate,” “believe,” “plan,” “expect,” “intend,” “will,” and
similar expressions, but these words are not the exclusive means of
identifying forward-looking statements. These statements are based on
management’s current expectations and are subject to uncertainty and changes
in circumstances. Investors are cautioned that forward-looking statements
involve risks and uncertainties that could cause actual results to differ
materially from the statements made. Matters that may cause actual results to
differ materially from those in the forward-looking statements include, among
other factors, the gain or loss of a major customer, change in environmental
regulations, disruption in supply of materials, capacity factor fluctuations
of power plant operations and power demands, a significant change in general
economic conditions in any of the regions where our customer utilities might
experience significant changes in electric demand, a significant disruption in
the supply of coal to our customer units, the loss of key management
personnel, availability of capital and any major litigation regarding the
Company. In addition, this release contains time-sensitive information that
reflects management’s best analysis only as of the date of this release. The
Company does not undertake any obligation to publicly update or revise any
forward-looking statements to reflect future events, information or
circumstances that arise after the date of this release. Further information
concerning issues that could materially affect financial performance related
to forward-looking statements contained in this release can be found in the
Company’s periodic filings with the Securities and Exchange Commission.

– END RELEASE – 22/03/2017

For further information:

Company Contact:
Richard MacPherson
Chief Executive Officer
Midwest Energy Emissions Corp.
Main: 614-505-6115
rmacpherson@midwestemissions.com

Investor Relations Contact:
Greg Falesnik
Managing Director
MZ Group – MZ North America
Main: 949-385-6449
greg.falesnik@mzgroup.us
www.mzgroup.us

COMPANY:
FOR: MIDWEST ENERGY EMISSIONS CORP.
OTCQB Symbol: MEEC

INDUSTRY: Energy and Utilities – Coal, Energy and Utilities – Utilities,
Environment – Air Pollution Control, Environment – Regulations and Law

RELEASE ID: 20170322CC008

Press Release from Marketwired 1-866-736-3779

All press releases are written by the client and have NO affiliation with the news copy written by The Canadian Press. Any questions that arise due to the content or information provided in the press release should be directed to the company/organization
issuing the release, not to The Canadian Press.

FOR: CUB ENERGY INC.TSX VENTURE SYMBOL: KUBDate issue: March 22, 2017Time in: 4:00 PM eAttention:
HOUSTON, TEXAS–(Marketwired – March 22, 2017) – Cub Energy Inc. (“Cub” or the
“Company”) (TSX VENTURE:KUB), a Ukraine-focused upstream oil and gas compan…

FOR: MOONCOR OIL & GAS CORP.
TSX VENTURE SYMBOL: MOO

Date issue: March 22, 2017
Time in: 2:47 PM e

Attention:

TORONTO, ONTARIO–(Marketwired – March 22, 2017) – Mooncor Oil & Gas Corp. (TSX
VENTURE:MOO) (the “Company”) is pleased to announce that it has filed its
Statement of Reserves Data and other Oil and Gas Information (the “Report”)
highlighting the oil and natural gas reserves, which are in the Provinces of
Alberta and Saskatchewan, and the value of future net revenue of the Company. A
copy of the Report can be found under the Company’s profile on the SEDAR
website (www.sedar.com).

The reserves data is based on an evaluation by DeGolyer and MacNaughton Canada
Limited (“DeGolyer MacNaughton”) with an effective date of December 31, 2015.
The reserves data summarizes the Company’s crude oil, natural gas liquids and
natural gas reserves (Table 1 below) and the net present values of future net
revenue for these reserves using constant prices and costs and forecast prices
and costs (Table 2 below).

/T/

Table 1
Summary of Reserves

——————————————–
Light & Medium Oil Heavy Oil
——————————————–
Gross (2) Net (3) Gross (2) Net (3)
RESERVE CATEGORY (Mbbls) (Mbbls) (Mbbls) (Mbbls)
——————————————–

——————————————–
PROVED
——————————————–
Developed Producing – – – –
——————————————–
Developed Non-Producing – – 40 34
——————————————–
Undeveloped – – 26 24
——————————————–
TOTAL PROVED – – 66 58
——————————————–
Probable – – 100 84
——————————————–
TOTAL PROVED + PROBABLE – – 166 142
——————————————–
Possible – – 56 46
——————————————–
TOTAL PROVED + PROB + POSS – 222 188
——————————————–

——————————————–
Natural Gas (1) Natural Gas Liquids
——————————————–
Gross (2) Net (3) Gross (2) Net (3)
RESERVE CATEGORY (MMcf) (MMcf) (Mbbls) (Mbbls)
——————————————–

——————————————–
PROVED
——————————————–
Developed Producing – – – –
——————————————–
Developed Non-Producing – – – –
——————————————–
Undeveloped – – – –
——————————————–
TOTAL PROVED – – – –
——————————————–
Probable – – – –
——————————————–
TOTAL PROVED + PROBABLE – – – –
——————————————–
Possible – – – –
——————————————–
TOTAL PROVED + PROB + POSS – – – –
——————————————–

1. Estimates of reserves of natural gas include associated and non-

associated gas.
2. “Gross Reserves” are Company’s working interest reserves before the
deduction of royalties.
3. “Net Reserves” are Company’s working interest reserves after deduction
of royalty obligations plus the Company’s royalty interests.

Table 2
Net Present Value of Future Net Revenue

—————————————-
Net Present Value (NPV) of Future Net
Revenue (FNR)
—————————————-
Before Income Taxes – Discounted at
(%/yr.)
—————————————-
0 5 10 15 20
RESERVE CATEGORY (M$) (M$) (M$) (M$) (M$)
—————————————-

—————————————-
PROVED
—————————————-
Developed Producing – – – – –
—————————————-
Developed Non-Producing 857 715 604 516 445
—————————————-
Undeveloped 571 467 387 323 273
—————————————-
TOTAL PROVED 1,428 1,182 991 839 718
—————————————-
Probable 3,078 2,235 1,668 1,277 998
—————————————-
TOTAL PROVED + PROBABLE 4,506 3,417 2,659 2,116 1,716
—————————————-
Possible 1,987 1,216 783 528 371
—————————————-
TOTAL PROVED + PROB + POSS 6,493 4,633 3,442 2,644 2,087
—————————————-

—————————————-
Net Present Value (NPV) of Future Net
Revenue (FNR)
—————————————-
After Income Taxes – Discounted at
(%/yr.)
————————————————-
0 5 10 15 20 10%/yr
RESERVE CATEGORY (M$) (M$) (M$) (M$) (M$) ($/BOE)
————————————————-

————————————————-
PROVED
————————————————-
Developed Producing – – – – – –
————————————————-
Developed Non-Producing 857 715 604 516 445 17.54
————————————————-
Undeveloped 571 467 387 323 273 16.41
————————————————-
TOTAL PROVED 1,428 1,182 991 839 718 17.08
————————————————-
Probable 2,954 2,162 1,624 1,250 981 19.76
————————————————-
TOTAL PROVED + PROBABLE 4,382 3,344 2,615 2,089 1,699 18.67
————————————————-
Possible 1,454 906 596 411 296 17.32
————————————————-
TOTAL PROVED + PROB + POSS 5,836 4,250 3,211 2,500 1,995 18.34
————————————————-

1. NPV of FNR includes all resource income: Sale of oil, gas, by-product

reserves; processing of third party reserves; other income.
2. Income taxes includes all resource income, appropriate income tax
calculations and prior tax pools.
3. The unit values are based on net reserve volumes before income tax
(BFIT).

/T/

About Mooncor Oil & Gas Corp.

Mooncor is a junior oil and gas exploration company. Mooncor holds interests in
lands in the Pondera and Teton Counties in Northwestern Montana, the Muskwa /
Duvernay liquids rich shale gas area in Hamburg, Alberta, and in southwest
Ontario where the focus has been on conventional oil and gas opportunities.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release.

The information in this news release includes certain information and
statements about management’s view of future events, expectations, plans and
prospects that constitute forward looking statements. These statements are
based upon assumptions that are subject to significant risks and uncertainties.
Because of these risks and uncertainties and as a result of a variety of
factors, the actual results, expectations, achievements or performance may
differ materially from those anticipated and indicated by these forward looking
statements. Although Mooncor believes that the expectations reflected in
forward looking statements are reasonable, it can give no assurances that the
expectations of any forward looking statements will prove to be correct. Except
as required by law, Mooncor disclaims any intention and assumes no obligation
to update or revise any forward looking statements to reflect actual results,
whether as a result of new information, future events, changes in assumptions,
changes in factors affecting such forward looking statements or otherwise.

– END RELEASE – 22/03/2017

For further information:
Mooncor Oil & Gas Corp.
Allen Lone
Chief Executive Officer
905.275.7570
atlone@mooncoroil.com

COMPANY:
FOR: MOONCOR OIL & GAS CORP.
TSX VENTURE SYMBOL: MOO

INDUSTRY: Energy and Utilities – Oil and Gas
RELEASE ID: 20170322CC0058

Press Release from Marketwired 1-866-736-3779

All press releases are written by the client and have NO affiliation with the news copy written by The Canadian Press. Any questions that arise due to the content or information provided in the press release should be directed to the company/organization
issuing the release, not to The Canadian Press.

FOR: TERRESTRIAL ENERGY INC.
Date issue: March 22, 2017Time in: 8:00 AM eAttention:
OAKVILLE, ONTARIO–(Marketwired – March 22, 2017) – Terrestrial Energy
announces that it has appointed Regis Matzie, PhD, to its Advisory Board. Dr.
Matzie is recognize…

FOR: SAVANNA ENERGY SERVICES CORP.
TSX SYMBOL: SVY

Date issue: March 22, 2017
Time in: 7:30 AM e

Attention:

CALGARY, ALBERTA–(Marketwired – March 22, 2017) – Savanna Energy Services
Corp. (“Savanna”) (TSX:SVY) today reiterates the unanimous support of the
special committee (the “Special Committee”) of the board of directors of
Savanna (the “Savanna Board”) and the Savanna Board of the acquisition of all
of the issued and outstanding common shares of Savanna (the “Savanna Shares”)
by Western Energy Services Corp. (“Western”) on the basis of 0.85 of a common
share of Western (the “Western Shares”) and $0.21 in cash per Savanna Share
(the “Western Offer”).

The Savanna Board, on the recommendation of the Special Committee, has
unanimously determined that Savanna shareholders should reject the offer from
Total Energy Services Inc. (“Total”) to purchase all of the Savanna Shares on
the basis of 0.13 common shares of Total and $0.20 in cash for each Savanna
Share (the “Total Offer”).

Total is Purchasing Savanna Shares in the Market for Greater Than its Offer
Price to Savanna Shareholders

Why is Total not treating all Savanna shareholders equally? Even Total knows
that the Total Offer undervalues Savanna and fails to adequately compensate
Savanna shareholders for their shares. The proof is in Total’s own actions: on
four occasions within the last month, including as recently as March 21, Total
purchased Savanna Shares in the market at a price that is HIGHER than the
implied value of the Total Offer.

On all four days, the implied value of the Western Offer was SUPERIOR to both
the implied value of the Total Offer and the price paid by Total for the shares
it purchased, as illustrated in the table below.

Western Offer is Superior to the Total Offer and to Total’s Recent Purchases of
Savanna Shares

/T/

—————————————————————————-

Implied Value of Price Paid by Total in Implied Value of
Date Total Offer(1) the Open Market (2) Western Offer(1)
—————————————————————————-
March 9(3) $1.90 $1.98 $2.03
—————————————————————————-
March 16 $1.92 $2.00 $2.19
—————————————————————————-
March 20 $1.92 $1.96 $2.12
—————————————————————————-
March 21 $1.95 $1.99 $2.12
—————————————————————————-
(1) Closing prices on the applicable date on the Toronto Stock Exchange.
(2) Highest price paid for Savanna Shares acquired on the applicable date as
disclosed by Total.
(3) Implied value of Western Offer on March 9th excludes cash consideration
of $0.21 per share.

/T/

In addition, Total sought and received the approval of its shareholders to
issue more than twice the number of common shares of Total currently required
to be issued pursuant to the Total Offer indicating it expected to pay
significantly more for the Savanna Shares.

A Higher Value, Strategically Superior Alternative is Available

The Savanna Board believes the Western Offer is financially, strategically and
operationally superior to the Total Offer and Savanna shareholders should not
tender their Savanna Shares to the Total Offer. Based on price alone, the
Western Offer represents a premium of 9.1% over the Total Offer for Savanna
shareholders (based on the closing price of the Western Shares and common
shares of Total, as applicable, on March 21, 2017).

Total’s self-interested arguments do not change the fundamental fact that a
combination of Western and Savanna makes more business sense and creates
greater potential for long-term value.

2016 Was the Worst Year for Oilfield Services Companies in Recent History and
the Outlook for the Sector is Considerably Stronger

In its latest press release Total once again refers to Western’s financial
results for the year ended December 31, 2016 (the most challenging year in
recent decades for oilfield services companies). Total, once again, is
misleading shareholders by ignoring the fact that current financial projections
of oilfield equity research analysts for 2017 and 2018 are materially higher
than 2016 levels. The previously disclosed operations updates of Savanna and
Western are supportive of oilfield equity research analyst views on activity
levels in 2017.

Total has highlighted that Western operated at above average utilization levels
during 2016. What Total has not stated is that Total operated at utilization
levels below the industry average. Western has demonstrated that it is a
drilling contractor that is committed to providing an essential service to its
customers during even the most challenging of times. As the industry continues
to recover, Western and its current and prospective shareholders will be well
served by the commitment that Western made to its customers during 2016.

Western Debt Following a Combination with Savanna is Appropriately Positioned

Total’s ongoing efforts to justify their inferior offer with references to
Western’s debt levels are misleading for two primary reasons. Firstly,
Western’s debt levels are already reflected in its share price. Total’s
continued insistence that Savanna shareholders should apply a further discount
to the consideration they are receiving from Western is illogical. Secondly,
upon the planned and fully financed redemption of Savanna’s senior notes, the
combined company would have no debt maturities before 2019, which provides for
considerable certainty should near-term weakness in the oilfield services
industry persist. Debt capital markets continue to share this view with
Western’s senior unsecured notes trading very near to par and a key credit
agency considering a potential credit upgrade for Western as a result of the
proposed business combination. With the anticipated industry activity levels in
2017 and 2018, the combination of Western and Savanna would be on a very firm
footing.

Total Offer Introduces Significant Potential Debt Charges

Total has not advised how it intends to refinance the Savanna debt that may
become due and payable upon the change of control that would occur upon it
taking up Savanna Shares pursuant to the Total Offer which may be significantly
more difficult if Savanna is still a public company not wholly-owned by Total.
Specifically:

/T/

— Savanna will be required to make an offer to acquire all of its

outstanding senior notes at 101% of the principal amount thereof, plus
the accrued and unpaid interest.
— If consent to the change of control is not obtained, the second lien
credit agreement with Alberta Investment Management Corporation
(“AIMCo”) will become due and payable with Savanna having to refinance
the same in a circumstance where Savanna could be a public company with
shareholders other than Total at the time and not be wholly owned by
Total.

/T/

The agreements Savanna entered into with AIMCo fundamentally restructured
Savanna’s balance sheet and were the result of comprehensive efforts to
negotiate the best available alternative. Total’s hostile and inferior offer
put Savanna’s balance sheet stability at risk.

Do Not Be Coerced Into Tendering to the Inferior Total Offer Prior to Its
Expiry

You should not accept inferior value for your Savanna Shares, particularly when
Total is itself willing to purchase shares for a higher price.

If Total does acquire 50.1% of the outstanding Savanna Shares (excluding
Savanna Shares owned by Total and persons acting jointly or in concert with
Total), Total will be required to extend the Total Offer for ten days following
the initial expiry of the Total Offer.

Savanna shareholders are urged not to tender their Savanna Shares to the Total
Offer. If you have already tendered your Savanna Shares to the Total Offer, you
can withdraw your Savanna Shares by contacting your broker or D.F. King, North
American Toll Free at 1-800-622-1678 or via email at inquiries@dfking.com.

FINANCIAL ADVISORS

Peters & Co. Limited is acting as financial advisor to Savanna in respect of
the Western Offer and has provided the Savanna Board with its verbal opinion
that, subject to certain customary assumptions, qualifications and limitations,
the consideration to be received by holders of Savanna Shares pursuant to the
terms of the Western Offer is fair, from a financial point of view, to the
holders of Savanna Shares.

Cormark Securities Inc. has provided the Savanna Board with its verbal opinion
that, subject to certain customary assumptions, qualifications and limitations,
the consideration to be received by holders of Savanna Shares pursuant to the
terms of the Western Offer is fair, from a financial point of view, to the
holders of Savanna Shares.

About Savanna

Savanna is a leading contract drilling and oilfield services company operating
in North America and Australia providing a broad range of drilling, well
servicing and related services with a focus on fit for purpose technologies and
industry-leading Aboriginal relationships.

Cautionary Statements

This press release contains forward-looking statements and forward-looking
information within the meaning of applicable securities laws. The use of any of
the words “expect”, “anticipate”, “continue”, “estimate”, “may”, “will”,
“project”, “should”, “believe”, “plans”, “intends” and similar expressions are
intended to identify forward-looking information or statements. More
particularly and without limitation, this press release contains
forward-looking statements and information relating to the proposed acquisition
of Savanna by Western pursuant to a plan of arrangement, the indebtedness of
the combined company, expectations with an industry recovery and the risks
resulting from Total acquiring more than 50% of the Savanna Shares. These
forward-looking statements and information are based on certain key
expectations and assumptions made by Savanna. Completion of the Western Offer
is subject to a number of conditions which are typical for transactions of this
nature. Assumptions have been made with respect to the satisfaction of all
conditions precedent under the arrangement agreement with Western. Although
Savanna believes that the expectations and assumptions on which such
forward-looking statements and information are based are reasonable, undue
reliance should not be placed on the forward-looking statements and information
as Savanna cannot give any assurance that they will prove to be correct. Since
forward-looking statements and information address future events and
conditions, by their very nature they involve inherent risks and uncertainties.
Actual results could differ materially from those currently anticipated due to
a number of factors and risks. These include, but are not limited to, the
failure to satisfy any of the conditions to completion of the Western offer,
the emergence of a superior proposal in respect of either party or the failure
to obtain approval of the Savanna shareholders or Western shareholders may
result in the termination of the arrangement agreement.

Readers are cautioned that the foregoing list of risks and uncertainties is not
exhaustive. Additional information on these and other risks that could affect
completion of the Western Offer will be set forth in an information circular of
Savanna to be mailed in connection with the Western Offer, which will be
available on SEDAR at www.sedar.com. Other risk factors that could affect
Savanna’s operations or financial results are included in Savanna’s annual
information form and may be accessed through the SEDAR website (www.sedar.com).
The forward-looking statements and information contained in this press release
are made as of the date hereof and Savanna does not undertake any obligation to
update publicly or revise any forward-looking statements or information,
whether as a result of new information, future events or otherwise, unless so
required by applicable securities laws.

– END RELEASE – 22/03/2017

For further information:
Savanna Energy Services Corp.
Chris Strong
President and Chief Executive Officer
(403) 267-6728
OR
Savanna Energy Services Corp.
Dwayne LaMontagne
Executive Vice President and Chief Financial Officer
(403) 214-5959
OR
Media contact:
Trevor Zeck
Longview Communications Inc.
(604) 694-6037
OR
Shareholder inquiries:
D.F. King Canada
(Toll Free): 1-800-622-1678

COMPANY:
FOR: SAVANNA ENERGY SERVICES CORP.
TSX SYMBOL: SVY

INDUSTRY: Energy and Utilities – Equipment, Energy and Utilities –
Oil and Gas
RELEASE ID: 20170322CC0015

Press Release from Marketwired 1-866-736-3779

All press releases are written by the client and have NO affiliation with the news copy written by The Canadian Press. Any questions that arise due to the content or information provided in the press release should be directed to the company/organization
issuing the release, not to The Canadian Press.

FOR: ONESOFT SOLUTIONS INC.
TSX VENTURE SYMBOL: OSS

Date issue: March 22, 2017
Time in: 7:00 AM e

Attention:

EDMONTON, ALBERTA–(Marketwired – March 22, 2017) – OneSoft Solutions Inc. (the
“Company” or “OneSoft”) (TSX VENTURE:OSS) is pleased to announce that its
wholly owned subsidiary, OneBridge Solutions Inc. will be presenting at a
Pipeline Asset Management Workshop to be held at the Microsoft Technology
Center in Houston, Texas on March 29, 2017.

Hosted by Microsoft, this interactive workshop will feature new technology and
innovation in pipeline asset management. This will include investigation of new
technology deployment by oil and gas pipeline companies and exploration
regarding application of digital technologies such as advanced analytics,
machine learning and field service automation, which can assist pipeline
operators to deploy cutting edge industry practices to enhance pipeline safety
and efficiencies of operations.

Tim Edward, President of OneBridge, will be presenting a 45-minute session at
the workshop that will include demonstrations of OneBridge’s Cognitive
Integrity Management SaaS solution and OneBridge’s HoloLens solution that
displays digital data such as corrosion as a hologram on pipeline
infrastructure.

This event is targeted at senior managers who are responsible for pipeline
integrity roles including engineering, integrity management, maintenance, data
science, analytics and information technology.

About OneSoft Solutions Inc.

OneSoft Solutions Inc. has developed software technology and products that have
capability to transition legacy, on premise licensed software applications to
operate on the Microsoft Cloud, in conjunction with Office 365, CRM Online,
Microsoft BI and Microsoft Azure Machine Learning. OneSoft’s business strategy
is to seek opportunities to convert legacy business software applications that
are historically cumbersome to deploy and costly to operate, to a more cost
efficient subscription based business model utilizing the Microsoft Cloud
platform and services, with accessibility through any internet capable device.
Visit www.onesoft.ca for more information.

About OneBridge Solutions Inc.

OneSoft’s wholly owned subsidiary, OneBridge Solutions Inc., is developing
revolutionary new applications for the Oil & Gas pipeline industry, which we
believe will be able to predict pipeline failures and thereby save lives,
protect the environment, reduce operational costs and address regulatory
compliance requirements. OneBridge utilizes a single geo-spatial database that
accommodates pipe-centric, structured and unstructured big data, with
capability to address the key functions that pipeline companies require to
manage, operate and maintain their pipelines. OneBridge solutions are designed
to address two key areas of functionality – Safety Management Systems and
Compliance Analytics (“SMS/CA”), and Cognitive Integrity Management (“CIM”)
solutions, all of which will be deployed as SaaS solutions that leverage Data
Science, Azure Machine Learning, HoloLens, Microsoft BI and other components of
the Microsoft Cloud platform and services. Visit www.onebridgesolutions.com for
more information.

ON BEHALF OF THE BOARD OF DIRECTORS, ONESOFT SOLUTIONS INC.

Douglas Thomson, Chair

Forward-looking Statements

This news release contains forward-looking statements relating to the future
operations and profitability of the Company and other statements that are not
historical facts. Forward-looking statements are often identified by terms such
as “may”, “should”, “anticipate”, “expects”, “believe”, “will”, “intends”,
“plans” and similar expressions. Any statements that are contained in this news
release that are not statements of historical fact may be deemed to be
forward-looking statements. Such forward-looking information is provided for
the purpose of delivering information about management’s current expectations
and plans relating to the future. Investors are cautioned that reliance on such
information may not be appropriate for other purposes, such as making
investment decisions.

In respect of the forward-looking information and statements the Company has
placed reliance on certain assumptions that it believes are reasonable at this
time, including expectations and assumptions concerning, among other things:
interest and foreign exchange rates; planned synergies, capital efficiencies
and cost-savings; applicable tax laws; the sufficiency of budgeted capital
expenditures in carrying out planned activities; the availability and cost of
labour and services; the success of growth projects; future operating costs;
that counterparties to material agreements will continue to perform in a timely
manner; that there are no unforeseen events preventing the performance of
contracts; and that there are no unforeseen material development or other costs
related to current growth projects or current operations. Accordingly, readers
should not place undue reliance on the forward-looking information contained in
this press release. Since forward-looking information addresses future events
and conditions, such information by its very nature involves inherent risks and
uncertainties. Actual results could differ materially from those currently
anticipated due to a number of factors and risks. These include, but are not
limited to the risks associated with the industries in which the Company
operates in general such as: costs and expenses; interest rate and exchange
rate fluctuations; competition; ability to access sufficient capital from
internal and external sources; and changes in legislation, including but not
limited to tax laws.

Readers are cautioned that the foregoing list of factors is not exhaustive.
Forward-looking statements contained in this news release are expressly
qualified by this cautionary statement. The forward-looking statements
contained in this news release are made as of the date of this news release,
and the Company undertakes no obligation to update publicly or to revise any of
the included forward-looking statements, whether as a result of new
information, future events or otherwise, except as expressly required by
Canadian securities law.

This news release does not constitute an offer to sell or the solicitation of
an offer to buy any securities within the United States. The securities to be
offered have not been and will not be registered under the U.S. Securities Act
of 1933, as amended, or any state securities laws, and may not be offered or
sold in the United States absent registration or an applicable exemption from
the registration requirements of such Act or other laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.

– END RELEASE – 22/03/2017

For further information:
Dwayne Kushniruk
CEO
dkushniruk@onesoft.ca
(780) 437-4950

COMPANY:
FOR: ONESOFT SOLUTIONS INC.
TSX VENTURE SYMBOL: OSS

INDUSTRY: Computers and Software – Software
RELEASE ID: 20170322CC0013

Press Release from Marketwired 1-866-736-3779

All press releases are written by the client and have NO affiliation with the news copy written by The Canadian Press. Any questions that arise due to the content or information provided in the press release should be directed to the company/organization
issuing the release, not to The Canadian Press.

FOR: TOUCHSTONE EXPLORATION INC.TSX SYMBOL: TXPDate issue: March 22, 2017Time in: 7:00 AM eAttention:
CALGARY, ALBERTA–(Marketwired – March 22, 2017) – Touchstone Exploration Inc.
(“Touchstone” or the “Company”) (TSX:TXP) announces its financial and o…