Day: May 25, 2017

FOR: MEG ENERGY CORP.TSX Symbol: MEGDate issue: May 25, 2017Time in: 8:05 PM eAttention:
CALGARY, AB –(Marketwired – May 25, 2017) – MEG Energy Corp. (TSX: MEG)
announces voting results from its Annual and Special Meeting of Shareholders
held on May…

FOR: RELENTLESS RESOURCES LTD.
TSX VENTURE SYMBOL: RRL

Date issue: May 25, 2017
Time in: 6:40 PM e

Attention:

CALGARY, ALBERTA–(Marketwired – May 25, 2017) – Relentless Resources Ltd.
(“Relentless” or the “Company”) (TSX VENTURE:RRL) announces that it has issued
and filed on SEDAR its March 31, 2017 unaudited condensed interim financial
statements and related management’s discussion and analysis (“MD&A”).
Additional information about Relentless is available on SEDAR at www.sedar.com
or on the Company’s website at www.relentless-resources.com.

Corporate update

Relentless averaged 272 boed (58% oil and liquids) in Q1 2017, up 17% from the
same period last year, and up 42% from the previous quarter. Royalties payable
increased to $3.49/boe due to higher commodity pricing on variable crown
royalties. Operating costs were up 8% to $14.10/boe compared to the previous
quarter. General and administration costs (“G&A”) were down slightly compared
to the previous quarters at $4.82/boe.

On May 25, 2017, the Company renewed its revolving demand operating loan
facility (the “Facility”), with the principal amount at $3,000,000. The
Facility is available until May 31, 2018, at which time it may be extended, at
the lender’s option. Interest payable on amounts drawn under the Facility is at
the lender’s prime rate plus 2.0 percent. The Facility is collateralized by a
general security agreement and a first ranking charge on all lands of the
Company.

The two new Heathdale oil wells drilled and completed in Q4 2016 continue to
track with the Company’s expectations.

The 02/5-7-27-9 horizontal well is producing approximately 70 boed (80% oil).
The 6-12-27-10 W4 vertical step-out well is producing approximately 12 boed
(100% oil) after a recent sand clean-out and pump change.

The Heathdale oil property has been delineated with 5 vertical wells and
developed with 4 horizontal wells. The Company believes that there is a
significant medium gravity oil reserve captured at Heathdale that will be
further developed once the oil price recovers. All the necessary facilities are
in place to ramp production when feasible.

Relentless’ go forward capital program depends on the price of oil and natural
gas and the ability to finance. Without further increases to realized pricing,
the Company will defer any drilling projects to conserve reserves and cash flow
for future benefit. Relentless continues to explore various opportunities to
grow and enhance shareholder value.

Relentless is a unique low G&A, high insider ownership and conforming junior
oil and gas company with low risk, high working interest medium gravity oil
opportunities at Heathdale. The Company’s management and directors once again
thank you for your patience and continued support.

Cash flow, comprehensive loss and netbacks

/T/

—————————————————————————-
Three months ended
March 31, 2017 2016 % 2017 2016 %
Change ($/boe) ($/boe) Change
—————————————————————————-
Oil and natural gas
sales 925,887 481,013 92 37.87 23.03 64
Royalties (85,391) (32,376) 164 (3.49) (1.54) 127
—————————————————————————-
Revenue after
royalties 840,496 448,637 87 34.38 21.47 60
Production, operating
and transportation
expenses (344,679) (273,696) 26 (14.10) (13.09) 8
—————————————————————————-
Operating cash flow
(1) 495,817 174,941 183 20.28 8.38 142
General &
administrative
expenses (117,937) (109,742) 7 (4.82) (5.25) (8)
Interest and other
financing charges (18,239) (47,621) 62 (0.75) (2.28) 67
—————————————————————————-
Cash flow from
operations (1) 359,641 17,578 1,946 14.71 0.84 (1648)
Accretion (1,629) (16,213) (90) (0.07) (0.78) (91)
Depletion and
depreciation (254,296) (256,558) (1) (10.40) (12.28) (15)
Impairment (117,835) (122,866) (4) (4.82) (5.87) (18)
—————————————————————————-
Comprehensive loss (14,119) (378,059) (96) (0.58) (18.10) (97)
—————————————————————————-
$ Per Share – Basic (0.00) (0.01)
$ Per Share – Diluted (0.00) (0.01)
—————————————————————————-

/T/

(1) Non-IFRS measure

Daily production and commodity prices

/T/

—————————————————————————-

Three months ended March 31
—————————————————————————-
2017 2016 % Change
—————————————————————————-
Daily production
Oil and NGLs (bbl/d) 159 120 33
Natural gas (mcf/d) 675 674 0
—————————————————————————-
Oil equivalent (boe/d @ 6:1) 272 232 17
—————————————————————————-

Realized commodity prices ($CDN)
Oil and NGLs (bbl) $ 51.30 $ 31.58 62
Natural gas (mcf) $ 3.14 $ 2.32 35
—————————————————————————-
Oil equivalent (boe @ 6:1) $ 37.87 $ 23.03 64
—————————————————————————-

/T/

Forward-Looking Statements: All statements, other than statements of historical
fact, set forth in this news release, including without limitation, assumptions
and statements regarding the volumes and estimated value of the Company’s
proved and probable reserves, future production rates, exploration and
development results, financial results, and future plans, operations and
objectives of the Company are forward-looking statements that involve
substantial known and unknown risks and uncertainties. Some of these risks and
uncertainties are beyond management’s control, including but not limited to,
the impact of general economic conditions, industry conditions, fluctuation of
commodity prices, fluctuation of foreign exchange rates, environmental risks,
industry competition, availability of qualified personnel and management,
availability of materials, equipment and third party services, stock market
volatility, timely and cost effective access to sufficient capital from
internal and external sources. The reader is cautioned that assumptions used in
the preparation of such information, although considered reasonable by the
Company at the time of preparation, may prove to be incorrect. There can be no
assurance that such statements will prove to be accurate and actual results and
future events could differ materially from those anticipated in such statements.

These assumptions and statements necessarily involve known and unknown risks
and uncertainties inherent in the oil and gas industry such as geological,
technical, drilling and processing problems and other risks and uncertainties,
as well as the business risks discussed in the MD&A under the heading “Business
Risks”. The Company does not undertake any obligation, except as required by
applicable securities legislation, to update publicly or to revise any of the
included forward-looking statements, whether as a result of new information,
future events or otherwise.

Barrels of oil equivalent (boe) is calculated using the conversion factor of 6
mcf (thousand cubic feet) of natural gas being equivalent to one barrel of oil.
Boes may be misleading, particularly if used in isolation. A boe conversion
ratio of 6 mcf:1 bbl (barrel of oil) is based on an energy equivalency
conversion method primarily applicable at the burner tip and does not represent
a value equivalency at the wellhead. 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. Boed means boe per day.

This news release provides certain financial measures that do not have a
standardized meaning prescribed by International Financial Reporting Standards
(“IFRS”). These non-IFRS financial measures may not be comparable to similar
measures presented by other issuers. Cash flow from operations and operating
cash flow are not recognized measures under IFRS. Management believes that in
addition to net income (loss), cash flow from operations and operating cash
flow are useful supplemental measures that demonstrate the Company’s ability to
generate the cash necessary to repay debt or fund future capital investment.
Investors are cautioned, however, that these measures should not be construed
as an alternative to net income (loss) determined in accordance with IFRS as an
indication of the Company’s performance. The Company’s method of calculating
these measures may differ from other companies and accordingly, they may not be
comparable to measures used by other companies. Cash flow from operations is
calculated by adjusting net income (loss) for other income, unrealized gains or
losses on financial derivative instruments, transaction costs, accretion, share
based compensation, impairment and depletion and depreciation. Operating cash
flow is calculated based on oil and gas revenue less royalties and operating
expenses.

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.

About Relentless Resources Ltd.

Relentless is a Calgary based emerging oil and natural gas company, engaged in
the exploration, development, acquisition and production of natural gas and
light gravity crude oil reserves in Alberta, Canada. Relentless’s common shares
trade on the TSX Venture Exchange under the symbol RRL.

Relentless’s primary corporate objective is to achieve non-dilutive growth and
enhance shareholder value through internal prospect development, strategic
production acquisitions and prudent financial management.

– END RELEASE – 25/05/2017

For further information:
Relentless Resources Ltd.
Dan Wilson
CEO
(403) 532-4466 ext. 227 or Mobile: (403) 874-9862
(587) 955-9668 (FAX)
info@relentless-resources.com
OR
Relentless Resources Ltd.
Ron Peshke
President
(403) 532-4466 ext. 223 or Mobile: (403) 852-3403
(587) 955-9668 (FAX)
info@relentless-resources.com
www.relentless-resources.com

COMPANY:
FOR: RELENTLESS RESOURCES LTD.
TSX VENTURE SYMBOL: RRL

INDUSTRY: Energy and Utilities – Oil and Gas
RELEASE ID: 20170525CC0111

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: STEEL REEF INFRASTRUCTURE CORP.
Date issue: May 25, 2017Time in: 6:36 PM eAttention:
CALGARY, ALBERTA–(Marketwired – May 25, 2017) – Steel Reef Infrastructure
Corp. (“Steel Reef”) is pleased to announce the declaration of a dividend of
$0.0175 p…

FOR: TRILOGY ENERGY CORP.
TSX SYMBOL: TET

Date issue: May 25, 2017
Time in: 6:19 PM e

Attention:

CALGARY, ALBERTA–(Marketwired – May 25, 2017) – Trilogy Energy Corp.
(“Trilogy” or the “Company”) (TSX:TET) is pleased to announce that it has
entered into an agreement to sell certain Duvernay assets in the Kaybob area of
Alberta and provide an update on its previously announced asset sale in the
Grande Prairie area of Alberta.

Kaybob Duvernay Asset Sale

Trilogy has entered into a definitive agreement to sell approximately 9.75 net
sections of Duvernay mineral rights in its Kaybob Duvernay play and its 11.0%
interest in a non-operated gas plant for cash consideration of $60 million
(before adjustments).

The predominantly non-operated Duvernay sale assets have an average production
(net to Trilogy) of approximately 640 Boe/d (2.6 MMcf/d of natural gas and 200
Bbl/d of natural gas liquids) for the month of April, 2017. The transaction
includes Trilogy’s Total Proved Developed Producing reserves attributable to
such assets of approximately 879 MBoe as of December 31, 2016, based on the
year end reserves estimate completed by Trilogy’s independent reserves
evaluator. After completion of this sale, Trilogy will continue to hold a
substantial land position in the Kaybob area Duvernay play with approximately
175 net sections (112,000 net acres) of land in areas prospective for Duvernay
shale development.

The sale is effective May 1, 2017 and is expected to be completed on or about
May 31, 2017.

Grande Prairie Area Asset Sale Update

Trilogy also confirms that its previously announced sale of certain Valhalla
assets in the Grande Prairie area of Alberta for cash consideration of $50
Million (before adjustments) remains conditional pending purchaser’s receipt of
the Alberta Energy Regulator (“AER”) approvals for the transfer of the wells,
pipelines and facilities. The sale is effective May 1, 2017 and is expected to
be completed by the end of May provided the AER approvals are received.

Borrowing Base

Proceeds from the sale of the two transactions described above will be applied
to reduce Trilogy’s indebtedness under its revolving credit facility. Upon
closing of the Valhalla area asset sale, Trilogy’s borrowing base will be
reduced from $300 million to $290 million. Upon closing of the Duvernay asset
sale, Trilogy’s borrowing base will be reduced from $290 million to $285
million. Provided that both of these transactions close by the end of May,
2017, proforma, Trilogy will be drawn $175 million as at May 31, 2017 under its
revolving credit facility leaving Trilogy with capacity of $110 million under
such facility.

Production Outlook

After positive first quarter operational results and factoring in the impact of
the two above mentioned asset sales, Trilogy maintains its current average 2017
annual production guidance of 24,000 Boe/d.

About Trilogy

Trilogy is a petroleum and natural gas-focused Canadian energy corporation that
actively develops, produces and sells natural gas, crude oil and natural gas
liquids. Trilogy’s geographically concentrated assets are primarily high
working interest properties that provide abundant low-risk infill drilling
opportunities and good access to infrastructure and processing facilities, many
of which are operated and controlled by Trilogy. Trilogy’s common shares are
listed on the Toronto Stock Exchange under the symbol “TET”.

Forward-Looking Information

Certain information included in this news release constitutes forward-looking
statements under applicable securities legislation. Forward-looking statements
or information typically contain statements with words such as “anticipate”,
“believe”, “expect”, “plan”, “intend”, “estimate”, “propose”, “budget”, “goal”,
“objective”, “possible”, “probable”, “projected”, scheduled”, or state that
certain actions, events or results “may”, “could”, should”, “would,” “might”,
or “will” be taken, occur or be achieved, or similar words suggesting future
outcomes or statements regarding an outlook. Forward-looking statements or
information in this news release include, but are not limited to:

/T/

— the anticipated closing of transactions to sell certain of Trilogy’s

assets in its Kaybob Duvernay play and in the Grande Prairie area, the
timing thereof and the use of proceeds therefrom;
— the estimated reserves to be divested in the Kaybob Duvernay asset sale
and statements as to the prospectivity of Trilogy’s remaining Duvernay
acreage;
— the expected impact of these dispositions on Trilogy’s borrowing base
under its revolving credit facility and the resulting proforma drawings
and capacity thereunder;
— forecast 2017 annual production levels; and
— other statements regarding the Company’s business strategy and
objectives.

/T/

Such forward-looking statements or information are based on a number of
assumptions which may prove to be incorrect. In addition to other assumptions
identified in this document, assumptions have been made regarding, among other
things:

/T/

— the likelihood that the previously mentioned Kaybob Duvernay and Grande

Prairie asset dispositions will close as planned;
— future crude oil, natural gas, condensate, NGLs and other commodity
pricing and supply;
— funds flow from operations and cash flow consistent with expectations;
— current reserves estimates;
— credit facility availability and access to sources of funding for
Trilogy’s planned operations and expenditures;
— the ability of Trilogy to service and repay its debt when due;
— current production forecasts and the relative mix of crude oil, natural
gas and NGLs therein;
— geology applicable to Trilogy’s land holdings;
— the extent and development potential of Trilogy’s assets;
— the ability of Trilogy and its industry partners to obtain drilling and
operational results, improvements and efficiencies consistent with
expectations (including in respect of anticipated production volumes,
reserves additions and NGL yields);
— well economics;
— decline rates;
— foreign currency, exchange and interest rates;
— royalty rates, taxes and capital, operating, general & administrative
and other costs and expenses;
— assumptions regarding royalties and expenses and the applicability and
continuity of royalty regimes and government incentive programs to
Trilogy’s operations;
— general business, economic, industry and market conditions;
— projected capital investment levels and the successful and timely
implementation of capital projects;
— anticipated timelines and budgets being met in respect of drilling
programs and other operations;
— the ability of Trilogy to obtain equipment, services, supplies and
personnel in a timely manner and at an acceptable cost to carry out its
evaluations and activities;
— the ability of Trilogy to secure adequate product processing,
transportation, fractionation and storage capacity on acceptable terms
or at all and assumptions regarding the timing and costs of run-times,
outages and turnarounds;
— the ability of Trilogy to market its oil, natural gas, condensate, other
NGLs and other products successfully to current and new customers;
— expectation that counterparties will fulfill their obligations under
operating, processing, marketing and midstream agreements;
— the timely receipt of required regulatory approvals;
— the continuation of assumed tax regimes, estimates and projections in
respect of the application of tax laws and estimates of deferred tax
amounts, tax assets and tax pools; and
— the extent of Trilogy’s liabilities.

/T/

Although Trilogy believes that the expectations reflected in such
forward-looking statements or information are reasonable, undue reliance should
not be placed on forward-looking statements because Trilogy can give no
assurance that such expectations will prove to be correct. Forward-looking
statements or information are based on current expectations, estimates and
projections that involve a number of risks and uncertainties which could cause
actual results to differ materially from those anticipated by Trilogy and
described in the forward-looking statements or information. These risks and
uncertainties include but are not limited to:

/T/

— The possibility that the Kaybob Duvernay and Grande Prairie area assets

dispositions will not close when expected or at all;
— fluctuations in crude oil, natural gas, condensate and other natural gas
liquids and commodity prices;
— the ability to generate sufficient funds flow from operations and obtain
financing on acceptable terms to fund planned exploration, development,
construction and operational activities and to meet current and future
obligations ;
— uncertainties as to the availability and cost of financing;
— Trilogy’s ability to satisfy maintenance covenants within its credit and
debt arrangements;
— the risk and effect of a downgrade in Trilogy’s credit rating;
— fluctuations in foreign currency, exchange rates and interest rates;
— the risks of the oil and gas industry, such as operational risks in
exploring for, developing and producing crude oil, natural gas,
condensate and other natural gas liquids, and market demand;
— risks and uncertainties involving the geology of oil and gas;
— the uncertainty of reserves estimates and reserves life;
— the uncertainty of estimates and projections relating to future
production and NG yields as well as costs and expenses;
— the ability of Trilogy to add production and reserves through
development and exploration activities and acquisitions;
— Trilogy’s ability to secure adequate product processing, transmission,
transportation, fractionation and storage capacity on acceptable terms
and on a timely basis or at all;
— potential disruptions or unexpected technical difficulties in designing,
developing, or operating new, expanded, or existing pipelines or
facilities (including third party operated pipelines and facilities);
— risks inherent in Trilogy’s marketing operations, including credit and
other financing risks and the risk that Trilogy may not be able to enter
into arrangements for the sale of its sales volumes;
— volatile business, economic and market conditions;
— general risks related to strategic and capital allocation decisions,
including potential delays or changes in plans with respect to
exploration or development projects or capital expenditures and
Trilogy’s ability to react to same;
— availability of equipment, goods, services and personnel in a timely
manner and at an acceptable cost;
— health, safety, security and environmental risks;
— the timing and cost of future abandonment and reclamation obligations
and potential liabilities for environmental damage and contamination;
— risks and costs associated with environmental, regulatory and
compliance, including those potentially associated with hydraulic
fracturing, greenhouse gases and “climate change” and the cost to
Trilogy in order to comply with same;
— weather conditions;
— the possibility that government policies, regulations or laws may
change, including risks related to the imposition of moratoriums;
— the possibility that regulatory approvals may be delayed or withheld;
— risks associated with Trilogy’s ability to enter into and maintain
leases and licenses;
— uncertainty with regard to royalty payments and the applicability of and
changes to royalty regimes and incentive programs including, without
limitation, applicable royalty incentive regimes and the Modernized
Royalty Framework, the Emerging Resources Program and the Enhanced
Hydrocarbon Recovery Program, among others;
— imprecision in estimates of product sales, commodity prices, capital
expenditures, tax pools, tax deductions available to Trilogy, changes to
and the interpretation of tax legislation and regulations;
— uncertainty regarding results of objections to Trilogy’s exploration and
development plans by third party industry participants, aboriginal and
local populations and other stakeholders;
— risks associated with existing and potential lawsuits, regulatory
actions, audits and assessments;
— changes in land values paid by industry;
— risks associated with Trilogy’s mitigation strategies including
insurance and hedging activities;
— risks related to the actions and financial circumstances of Trilogy
agents and contractors, counterparties and joint venture partners,
including renegotiation of contracts;
— risks relating to cybersecurity, vandalism, and terrorism;
— the ability of management to execute its business plan; and

/T/

other risks and uncertainties described elsewhere in this document and in
Trilogy’s other filings with Canadian securities authorities, including its
Annual Information Form.

The forward-looking statements and information contained in this news release
are made as of the date hereof and Trilogy undertakes no 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.

Oil and Gas Advisory

This document contains disclosure expressed as “Boe/d” and “MBoe “. All oil and
natural gas equivalency volumes have been derived using the ratio of six
thousand cubic feet of natural gas to one barrel of oil (6:1). Equivalency
measures may be misleading, particularly if used in isolation. A conversion
ratio of six thousand cubic feet of natural gas to one barrel of oil is based
on an energy equivalency conversion method primarily applicable at the burner
tip and does not represent a value equivalency at the well head. For Q1 2017,
the ratio between Trilogy’s average realized oil price and the average realized
natural gas price was approximately 20:1 (“Value Ratio”). The Value Ratio is
obtained using the Q1 2017 average realized oil price of $61.36 (CAD$/Bbl) and
the Q1 2017 average realized natural gas price of $3.09 (CAD$/Mcf).This Value
Ratio is significantly different from the energy equivalency ratio of 6:1 and
using a 6:1 ratio would be misleading as an indication of value.

All reserves information in this News Release is gross reserves. Gross reserves
means Trilogy’s working interest (operating or non-operating) share before
deduction of royalties and without including any royalty interest of Trilogy.
Reserves estimates are based on the independent engineering evaluation prepared
by McDaniel & Associates Consultants Ltd. dated March 7, 2017, evaluating
Trilogy’s crude oil, natural gas and natural gas liquids reserves effective as
of December 31, 2016.

– END RELEASE – 25/05/2017

For further information:
For further information, please contact:
J.H.T. (Jim) Riddell, Chief Executive Officer
J.B. (John) Williams, President and Chief Operating Officer
M.G. (Mike) Kohut, Chief Financial Officer
OR
Trilogy Energy Corp.
#1400, 332 – 6th Avenue S.W.
Calgary, Alberta T2P 0B2
Phone: (403) 290-2900
Fax: (403) 263-8915

COMPANY:
FOR: TRILOGY ENERGY CORP.
TSX SYMBOL: TET

INDUSTRY: Energy and Utilities – Oil and Gas
RELEASE ID: 20170525CC0108

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: JUNEX INC.
TSX VENTURE SYMBOL: JNX

Date issue: May 25, 2017
Time in: 4:15 PM e

Attention:

QUEBEC CITY, QUEBEC–(Marketwired – May 25, 2017) – Junex inc. (The “Company”
or “Junex”) (TSX VENTURE:JNX) announces that it has sold its 25% interest in a
block of licenses located in Schleicher County, Western Texas for a cash amount
of CAD$1,009,125.

“After having been involved in this project for several years, we concluded
that it was time to divest ourselves of this investment in which we were a
minority partner. The proceeds will contribute to the development of our Galt
oil and natural gas production project, where we plan to drill at least one new
horizontal well in 2017,” said Junex’s President and Chief Executive Officer,
Mr. Jean-Yves Lavoie.

Junex has already received a drilling permit from the Quebec Department of
Energy and Natural Resources for the Galt No 6 Hrz well and plans to start
drilling later this summer.

About Junex

Junex is a junior oil and gas exploration company that holds exploration
permits on more than 2.1 million acres of land in the Appalachian basin in the
Province of Quebec, including the Galt Oil Property on the Gaspe Peninsula in
eastern Quebec, landholdings on Anticosti Island in the Gulf of St. Lawrence
and landholdings in the St. Lawrence Lowlands between Montreal and Quebec City.
In parallel to its exploration efforts in Quebec, the company operates a
drilling services division.

Forward-Looking Statements and Disclaimer

Certain statements in this press release may be forward-looking.
Forward-looking statements are based on the best estimates available to Junex
at the time and involve known and unknown risks, uncertainties and other
factors that may cause Junex’s actual results, performance or achievements to
be materially different from any future results, performance or achievements
expressed or implied by such forward-looking statements. A description of the
risks affecting Junex’s business and activities appears under the heading
“Risks and Uncertainties” on pages 18 to 22 of Junex’s 2016 annual management’s
discussion and analysis, which is available on SEDAR at www.sedar.com. No
assurance can be given that any events anticipated by the forward-looking
information in this press release will transpire or occur, or if any of them do
so, what benefits that Junex will derive therefrom. In particular, no assurance
can be given as to the future financial performance of Junex. Junex disclaims
any intention or obligation to update or revise any forward-looking statements
in order to account for any new information or any other event. The reader is
warned against undue reliance on these forward-looking statements.

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 – 25/05/2017

For further information:
Junex Inc.
Mr. Jean-Yves Lavoie
President & Chief Executive Officer
418-654-9661
OR
Junex Inc.
Mr. Dave Pepin
Vice President – Corporate Affairs
418-654-9661

COMPANY:
FOR: JUNEX INC.
TSX VENTURE SYMBOL: JNX

INDUSTRY: Energy and Utilities – Oil and Gas
RELEASE ID: 20170525CC0091

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: KEVIN R. BAKER Q.C.
Date issue: May 25, 2017Time in: 2:15 PM eAttention:
CALGARY, ALBERTA–(Marketwired – May 25, 2017) –
NOT FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS
RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. S…

FOR: JURA ENERGY CORPORATIONTSX VENTURE SYMBOL: JECDate issue: May 25, 2017Time in: 1:47 PM eAttention:
CALGARY, ALBERTA–(Marketwired – May 25, 2017) – Jura Energy Corporation
(“Jura”) (TSX VENTURE:JEC) today announced that at the annual and special
…

FOR: CORDY OILFIELD SERVICES INC.TSX VENTURE SYMBOL: CKKDate issue: May 25, 2017Time in: 12:20 PM eAttention:
CALGARY, ALBERTA–(Marketwired – May 25, 2017) – CORDY OILFIELD SERVICES INC.
(the “Corporation” or “Cordy”) (TSX VENTURE:CKK) released today…

FOR: RESOURCES & ENERGY SQUATEX INC.
CSE SYMBOL: SQX
CSE SYMBOL: SQX.CN
CNSX SYMBOL: SQX

Date issue: May 25, 2017
Time in: 10:40 AM e

Attention:

BROSSARD, QUEBEC–(Marketwired – May 25, 2017) – The management of Resources &
Energy Squatex Inc. (CSE:SQX)(CSE:SQX.CN)(CNSX:SQX) (Squatex) is pleased to
announce that it has entered into an engineering services agreement with
Calgary based Fire Creek Ressources Ltd (Fire Creek).

For several years, Squatex has specialized in the technique of small diameter
drilling (slim hole) for its exploration. This technique represents a major
breakthrough in Quebec in terms of environmental impact because it uses less
water, less energy, and requires a much smaller area of land (90% less) than
traditional oil drilling techniques. Squatex wanted to add to its team
professionals with the same values of respect for the environment. Fire Creek
has more than 23 years of experience in more than 22 countries on 6 continents
and is recognized as a world leader in the engineering of all types of drilling
and related operations leading to the production of reservoir zones. Fire Creek
has specialists in various fields of oil and gas development and significant
amount of wells drilled safely and successfully, including in Quebec. Fire
Creek will be a major asset for the development of conventional reservoirs in
the Masse structure in the Lower St. Lawrence (see press release dated May 17th
2016).

Mr. Jean-Claude Caron, Executive Chairman and Chief Executive Officer of
Squatex comments: “Squatex is a 100% owned Quebec company with deep
environmental and social values. I maintain that the development of
hydrocarbons in Quebec can be done with respect for the environment and
communities. I believe Squatex, by developing innovative techniques, backed by
world-renowned professionals in its future exploration and production projects,
will become a benchmark in the field. In so doing, Quebec will have the chance
to become a leader in the clean and socially acceptable development of
hydrocarbons.”

The President of Squatex takes the opportunity to comment on a recent poll
commissioned by the Montreal Economic Institute (MEI) at Leger, which ran from
April 17 to 19, 2017 in all regions of Quebec: “The results show that 56% of
Quebeckers think we should develop our own hydrocarbon resources. It should be
noted that we consume 300,000 barrels per day of imported oil day in Quebec and
that the purchase of these barrels causes our economy to lose more than $ 20
million per day.” Mr. Caron adds: “Now that we have a law to regulate the
development of hydrocarbons, it would be time to take example from Norway and
develop our resources to use the income generated by the oil and gas sector to
achieve the energy transition in Quebec more quickly. We are fortunate to be
rich in natural resources, so accept to be a wealthy society and give ourselves
the means to become an example of good resource management while protecting the
environment.”

About Resources & Energy Squatex Inc.

Squatex is a junior oil and gas exploration company established in 2001 whose
principal activity is to carry out work and studies for the assessment and
development of its oil and gas potential of 656,093 Hectares under exploration
permits in Quebec. Squatex holds 224,933 ha (70% Net) of exploration permits in
the St. Lawrence Lowlands region and 431,160 ha (70% Net) of licenses in the
Lower St. Lawrence region.

Forward-Looking Statements

This press release contains statements that may constitute “forward-looking
information” within the meaning of applicable Canadian securities laws.
Forward-looking information may include, but is not limited to, statements
regarding future plans, costs, objectives or performance of Squatex, or the
assumptions underlying any of these elements. Forward-looking information
should not be interpreted as a guarantee of future performance or results and
is not necessarily a guide to the achievement of such performance or results or
the timing of such achievement performance or results. There can be no
assurance that events anticipated in the forward-looking information will occur
or will be produced, including the development of Squatex’s properties, or if
they are realized, the benefits that Squatex will derive from it. The
forward-looking information is based on information available at the time it is
made and / or in good faith with respect to future events and is subject to
known or unknown risks, uncertainties, assumptions and other unpredictable
factors, many of which are beyond the control of Squatex. Actual events or
results could differ materially from those anticipated in the forward-looking
statements. Squatex does not intend to update or revise any forward-looking
information contained in this press release to reflect future information,
events or circumstances or otherwise and does not undertake to update or revise
any forward-looking information contained in this press release, unless
required to do so by applicable law.

– END RELEASE – 25/05/2017

For further information:
Resources & Energy Squatex Inc.
Mr. Jean-Claude Caron, President
450-766-0861
jccaron@squatex.com
OR
Resources & Energy Squatex Inc.
Mr. Mario Levesque, Director of Development
418-391-1155
mlevesque@squatex.com

COMPANY:
FOR: RESOURCES & ENERGY SQUATEX INC.
CSE SYMBOL: SQX
CSE SYMBOL: SQX.CN
CNSX SYMBOL: SQX

INDUSTRY: Energy and Utilities – Oil and Gas
RELEASE ID: 20170525CC0055

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: PETROSHALE INC.
TSX VENTURE SYMBOL: PSH
OTCQX SYMBOL: PSHIF

Date issue: May 25, 2017
Time in: 9:00 AM e

Attention:

CALGARY, ALBERTA–(Marketwired – May 25, 2017) – PetroShale Inc. (“PetroShale”
or the “Company”) (TSX VENTURE:PSH)(OTCQX:PSHIF) is pleased to announce its
financial and operating results for the three month period ended March 31,
2017. The Company’s unaudited consolidated financial statements and
corresponding Management’s Discussion and Analysis (MD&A) for the period are
available on SEDAR at www.sedar.com, on the OTCQX website at www.otcqx.com, and
on PetroShale’s website at www.petroshaleinc.com. Copies of the materials can
also be obtained upon request without charge by contacting the Company
directly. Please note, currency figures presented herein are reflected in
Canadian dollars, unless otherwise noted.

HIGHLIGHTS:

PetroShale continued to focus on developing its core land base in the North
Dakota Bakken / Three Forks play. The Company achieved a significant increase
in production as a result of its first operated well and participation in three
recently completed non-operated wells. The Company’s recent $110 million equity
financing is expected to allow PetroShale to continue to be aggressive in
acquiring more undeveloped land and drilling locations in its core area, and
increase production through additional drilling activity.

Since December 31, 2016, the Company:

/T/

— Achieved a significant increase in production to 3,213 boe/d, a 134%

increase over the first quarter of 2016 and 73% higher than the fourth
quarter of 2016.
— Generated operating netbacks of $30.45 per boe, an increase of 128% from
$13.35 per boe in the same quarter of 2016, due to a combination of
increased realized oil prices and decreased operating costs.
— Realized EBITDA of $8.0 million in the first quarter of 2017, compared
to $0.9 million in the corresponding quarter of 2016.
— Closed an equity offering that was fully subscribed (including the full
exercise of the over-allotment option) and generated gross proceeds of
$110 million.
— Increased the borrowing capacity under the Company’s senior credit
facility to US$30.9 million, from US$23.7 million, and extended the
renewal date to February 28, 2018.

/T/

RESULTS OF OIL AND GAS ACTIVITIES

/T/

Three months ended
—————————————————————————-
March 31, March 31,
2017 2016
—————————————————————————-
Sales volumes
—————————————————————————-
Crude Oil (Bbl/d) 2,655 1,194
Natural gas and NGLs (Mcf/d) 3,349 1,091
—————————————————————————-
Barrel of oil equivalent (Boe/d) (1) 3,213 1,376

Operating Netbacks ($/Boe)(1)
—————————————————————————-

Revenue $ 52,48 $ 31.98
Royalties (10.92) (6.57)
Operating costs (7.20) (9.58)
Production taxes (3.91) (2.48)
—————————————————————————-
Operating netback $ 30.45 $ 13.35
Operating netback, on a net of royalty basis $ 38.48 $ 16.84
—————————————————————————-
Note:
(1) See “Oil and Gas Advisory”.

/T/

MESSAGE FROM THE CEO

The beginning of 2017 has been one of the most significant periods in
PetroShale’s history with respect to execution of the Company’s strategy. We
realized a significant production increase following the successful drilling of
our first operated well (73% working interest) in the Antelope area, and our
$110 million equity financing in April has substantially enhanced our
liquidity.

As a result of the significant increase in production, we generated $7.6
million in funds flow from operations and $8.0 million of EBITDA in the first
quarter, which are substantial increases over $1.0 million and $0.9 million,
respectively in the same period of 2016.

Following completion of the equity financing, we have approximately US$78
million of undrawn capacity under our credit facilities, affording PetroShale
significant financial flexibility. We are seeking opportunities to enhance our
high-quality asset base within our core area and look forward to converting
more of our undeveloped acreage to production with additional drilling
locations in 2017 and 2018.

Our first quarter 2017 operating netback of $30.45 was positively impacted by
the strengthening of the WTI benchmark price and a reduction in both operating
expenses and Bakken price differentials. This netback demonstrates the quality
of our acreage and drilling locations. In addition, our per boe G&A expenses
were reduced by nearly half from Q1 2016 as a result of increased production
and stable overhead costs. We are seeing WTI prices continue to fluctuate but
we believe that our strong netbacks will continue to support economic
development of our assets.

With the strengthening of our financial position, we intend to pursue operated
positions in other drilling units in our core focus area. We continue to be
encouraged by the proven ability of our assets to generate positive impacts on
production, reserves and revenue growth.

We would like to thank PetroShale’s employees, directors and shareholders for
your continued support of our strategy and our Company, and we look forward to
updating you on our progress and achievements.

((signed))

M. Bruce Chernoff, Executive Chairman and CEO

About PetroShale

PetroShale is an oil company engaged in the acquisition, development and
consolidation of interests in the North Dakota Bakken / Three Forks.

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.

Note Regarding Forward-Looking Statements and Other Advisories

This press release contains forward-looking statements and forward-looking
information (collectively “forward-looking information”) within the meaning of
applicable securities laws relating to, among other things, available aspects
of management focus, objectives, strategies and business opportunities. More
particularly and without limitation, this press release contains
forward-looking information concerning: the Company’s expectation that its
recent equity financing will allow PetroShale to continue to be aggressive in
acquiring more undeveloped land and drilling locations in its core area, and
increase production through additional drilling activity; the Company’s
intention to convert more undeveloped acreage to production with additional
drilling locations in 2017 and 2018; the pursuit of operated positions in other
drilling units in the Company’s core focus area; PetroShale’s intention to seek
out land acquisition opportunities and to increase production through drilling
activities; the Company’s growth and development plans; and the general outlook
of the Company. PetroShale provided such forward-looking statements in reliance
on certain expectations and assumptions that it believes are reasonable at the
time, including expectations and assumptions concerning prevailing commodity
prices, liquidity, exchange rates, interest rates, applicable royalty rates and
tax laws; future production rates and estimates of operating costs; performance
of existing and future wells; reserve volumes; business prospects and
opportunities; the availability and cost of financing, labor and services; the
impact of increasing competition; ability to market oil and natural gas
successfully; and the Company’s ability to access capital.

Although the Company believes that the expectations and assumptions on which
such forward-looking information is based are reasonable, undue reliance should
not be placed on the forward-looking information because the Company can give
no assurance that they will prove to be correct. Forward-looking information
addresses future events and conditions, which by their very nature involve
inherent risks and uncertainties. The Company’s actual results, performance or
achievement could differ materially from those expressed in, or implied by, the
forward-looking information and, accordingly, no assurance can be given that
any of the events anticipated by the forward-looking information will transpire
or occur, or if any of them do so, what benefits the Company will derive
therefrom. Management has included the above summary of assumptions and risks
related to forward-looking information provided in this press release in order
to provide security holders with a more complete perspective on the Company’s
future operations and such information may not be appropriate for other
purposes.

Readers are cautioned that the foregoing lists of factors are not exhaustive.
Additional information on these and other factors that could affect our
operations or financial results are included in reports on file with applicable
securities regulatory authorities and may be accessed through the SEDAR website
(www.sedar.com). These forward-looking statements are made as of the date of
this press release and the Company disclaims any intent or obligation to update
publicly any forward-looking information, whether as a result of new
information, future events or results or otherwise, other than as required by
applicable securities laws.

Non-GAAP Measures:

Within this press release, references are made to “operating netback”, “EBITDA”
and “funds flow from operations”, which are not recognized measures under IFRS
and therefore may not be comparable to performance measures presented by
others. EBITDA means net income (loss) before taxes, depletion and depreciation
expense, exploration and evaluation expense, any impairments, finance expense,
any gain or loss on property dispositions, foreign exchange gain or loss,
share-based compensation expense and unrealized gain or loss on financial
derivatives. Operating netback means revenue less royalties, production taxes
and operating costs and has been presented on a per Boe basis. Management
believes that in addition to net income (loss) and cash flow from (used in)
operating activities, EBITDA and operating netback are useful supplemental
measures as they assist a reader in the determination of the Company’s
operating performance, leverage and liquidity. Funds flow from operations is
calculated based on cash flow from operating activities before changes in
non-cash working capital and decommissioning expenditures. Management utilizes
funds flow from operations as a key measure to assess the ability of the
Company to finance operating activities, capital expenditures and debt
repayments. Readers are cautioned, however, that these measures should not be
construed as an alternative to net income (loss) or cash flow from (used in)
operating activities and consolidated assets as determined in accordance with
IFRS as an indication of our performance or value.

Oil and Gas Advisory:

Where amounts are expressed on a barrel of oil equivalent (“Boe”) basis,
natural gas volumes have been converted to Boe using a ratio of 6,000 cubic
feet of natural gas to one barrel of oil (6 Mcf: 1 Bbl). This Boe conversion
ratio is based on an energy equivalency conversion method primarily applicable
at the burner tip and does not represent a value equivalency at the wellhead.
Given 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 Mcf: 1
Bbl, utilizing a conversion ratio at 6 Mcf: 1 Bbl may be misleading as an
indication of value. In this release, mboe refers to thousands of barrels of
oil equivalent, while mbbls refers to thousands of barrels of oil, and mmcf
refers to millions of cubic feet of natural gas.

All dollar figures included herein are presented in Canadian dollars, unless
otherwise noted.

– END RELEASE – 25/05/2017

For further information:
PetroShale Inc.
Attention: Executive Chairman and CEO
+1.303.297.1407
Info@PetroShaleInc.com
www.petroshaleinc.com
OR
Cindy Gray
5 Quarters Investor Relations, Inc.
403.828.0146
info@5qir.com

COMPANY:
FOR: PETROSHALE INC.
TSX VENTURE SYMBOL: PSH
OTCQX SYMBOL: PSHIF

INDUSTRY: Energy and Utilities – Oil and Gas
RELEASE ID: 20170525CC0043

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: VIQ SOLUTIONS INC.TSX VENTURE SYMBOL: VQSDate issue: May 25, 2017Time in: 9:00 AM eAttention:
MARKHAM, ONTARIO–(Marketwired – May 25, 2017) – VIQ Solutions Inc. (“VIQ” or
the “Company”) (TSX VENTURE:VQS), a global expert in secure digital media
…

FOR: WIREIE

Date issue: May 25, 2017
Time in: 9:00 AM e

Attention:

TORONTO, ON–(Marketwired – May 25, 2017) – WireIE, a wholesale network
operator specialized in the deployment of MEF-Certified Carrier Ethernet
networks to Canada’s underserved markets, continues to expand its digital oil
and gas telecommunications network management expertise in South America.

WireIE is operating in the Argentinian Bajada de Anelo gas shale field within
the larger Vaca Muerta area. Using skilled local field technicians, WireIE is
providing its partners with the overall expertise to configure and deploy the
digital infrastructure necessary for project success.

“WireIE has been incredibly successful in providing integrated, reliable and
secure networks for oil and gas fields in Canada’s underserved regions,” says
Rob Barlow, President and Chief Executive Officer of WireIE. “We continue to
prove that our model can be applied to challenging regions anywhere because our
core set of capabilities has a high degree of flexibility and adaptability.”

“We specialize in finding solutions for challenging telecommunications
situations like the Bajada de Anelo shale fields,” says Jon D’Alessandro,
WireIE’s Executive Vice President of Network and Operations. “Through our Day 2
support service, we provide our partners in Argentina and elsewhere in South
America with continuous and integrated connectivity from their corporate
headquarters to their exploratory and production oil fields.”

WireIE’s Day 2 service targets oil and gas producers who operate in
increasingly remote and challenging locations, where it is difficult to staff
project sites with skilled workers. Keeping the communications network up and
running in the field can save companies thousands of dollars a day. As the
responsible authority for its clients on the digital aspects of project,
problem and incident management, WireIE lowers the risk of unplanned downtime
and allows for greater efficiency in production.

“We are pleased to see Canadian companies like WireIE pursue an active presence
in Argentina’s energy sector,” says Eleonore Rupprecht, Trade Commissioner with
Global Affairs Canada. “Argentina is one of Canada’s largest trading partners
in South America and Canadian businesses recognize the potential for increased
trade with Argentina.”

Having calculated a need for a total long-term investment of US $200 billion to
reverse its sustained energy crisis, the Argentinian government is encouraging
foreign investment in its Vaca Muerta shale fields.

About WireIE:

WireIE is a Canadian telecommunications carrier, specialized in the deployment
of MEF Certified Carrier Ethernet 2.0 networks to underserved markets. WireIE’s
proven network performance, backed by industry-leading SLAs, has been
established as the provider of choice for mission critical network
requirements, across all industry verticals. Believing in a strong partnership
model allows WireIE to focus on building missing components of broadband
network solutions while keeping the costs down and dramatically reducing
delivery times.

sales@WireIE.com WireIE.com Twitter.com/WireIE LinkedIn.com/WireIE

– END RELEASE – 25/05/2017

For further information:
For media inquiries, please contact:
Jaymie Scotto & Associates (JSA)
+1.866.695.3629
jsa_wireie@jaymiescotto.com

COMPANY:
FOR: WIREIE

INDUSTRY: Computers and Software – Hardware, Computers and Software
– Internet, Computers and Software – Networking, Computers and
Software – Peripherals, Computers and Software – Software, Telecom
– Cable and Satellite Services, Telecom – Networking, Telecom –
Telecommunication Equipment, Telecom – Telecommunication Services,
Telecom – Wireless/Mobile, Computers and Software – Security,
Computers and Software – Big Data
RELEASE ID: 20170525CC0047

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: EAGLE ENERGY INC.TSX SYMBOL: EGLDate issue: May 25, 2017Time in: 8:00 AM eAttention:
Board of Directors Unanimously Recommends that Eagle Shareholders vote the
YELLOW form of proxy FOR Eagle’s Director Nominees
CALGARY, ALBERTA–(Marketwired – Ma…

FOR: RAZOR ENERGY CORP.
TSX VENTURE SYMBOL: RZE

Date issue: May 25, 2017
Time in: 8:00 AM e

Attention:

CALGARY, ALBERTA–(Marketwired – May 25, 2017) – Razor Energy Corp. (“Razor” or
the “Company”) (TSX VENTURE:RZE) (www.razor-energy.com) is pleased to announce
the closing of the previously announced strategic acquisition of light oil
assets located in west central Alberta (the “Assets”) for cash consideration of
$9.6 million, subject to customary adjustments (the “Acquisition”). The Assets,
situated within Razor’s core area, are characterized by low decline, light oil
focused production, which is primarily operated with abundant infrastructure to
complement Razor’s existing asset portfolio.

THE ACQUISITION

The purchase price for the Acquisition was $9.6 million, prior to closing
adjustments (the “Purchase Price”). The Purchase Price was funded through a
prospectus financing (the “Offering”) through a syndicate of agents co-led by
Haywood Securities Inc. and Jett Capital Advisors, LLC, together with Canaccord
Genuity Corp., Eight Capital, National Bank Financial Inc., Acumen Capital
Finance Partners Limited and Macquarie Capital Markets Canada Ltd.
(collectively, the “Agents”) of 5,750,000 subscription receipts of the Company
(“Subscription Receipts”) at a price of $3.00 per Subscription Receipt for
aggregate gross proceeds of $17.25 million, including the full exercise of the
Agents’ over-allotment option, which closed on May 15, 2017.

In accordance with their terms, each Subscription Receipt was exchanged for one
common share of the Company (“Common Share”) and one-half of one Common Share
purchase warrant (“Warrant”) upon closing of the Acquisition and the aggregate
gross proceeds of the Offering were released from escrow. Holders of
Subscription Receipts are not required to take any action in order to receive
the Common Shares and Warrants to which they are entitled.

The Acquisition is complementary on a geographic, geological and operational
basis and in terms of product mix with Razor’s current assets and operations in
the Swan Hills areas. On a pro forma basis, using February 2017 field estimated
production, the Company anticipates production at or above 3,700 boe/d, of
which 85% is light oil and natural gas liquids.

The Acquisition enhances Razor’s existing asset base with similar reactivation
and re-entry opportunities, in addition to future drilling upside with proven
deliverability of light oil from the Montney formation. The primary fields
within the Assets include Kaybob South Triassic Units No. 1 and 2, Kaybob
Beaverhill Lake Unit No. 1 and Simonette/Karr Beaverhill Lake Oil Pools.

With 95,679 (33,542 net) acres of land, the majority held by production, Razor
foresees ample drilling opportunities comprised of both vertical and horizontal
wells. Management has currently identified over 15 net drilling locations
including the potential for future horizontal targets. The development of these
properties is expected to be part of the 2018 capital program.

ASSET SUMMARY(1)

/T/

Total purchase price $ 9.6 million
Current production (Feb 2017 field) 759 boe/d
Annual decline rate 15%
95,679 (33,542 net)
Land acres
Net locations 15 unbooked
Forecast 2017 operating netback(2) $ 10.82/boe
Reserves (Gross)
Proved developed producing (“PDP”) reserves(3) 1.5 MMboe
Total Proved (“TP”) reserves(1)(3) 2.8 MMboe
Total proved plus probable (“P+P”) reserves(3) 3.7 MMboe
P+P RLI(4) 13 years
Reserves Value Before Tax (PV10)(3):
PDP reserve value $ 22.5 million
TP reserve value $ 36.2 million
P+P reserve value $ 44.7 million
Run rate cash flow(5) $ 3.3 million

/T/

ACQUISITION METRICS(1)

/T/

Current production (Feb 2017 field) $ 12,652 per boe/d
Proved developed producing reserves(3) $ 6.46 per boe
Total proved reserves(3) $ 3.48 per boe
Total proved plus probable reserves(3) $ 2.62 per boe
Purchase price / PDP reserve value 43%
Purchase price / TP reserve value 27%
Purchase price / P+P reserve value 21%
Run rate cash flow(5) 3.20x

1. Subject to normal adjustments for a transaction of this nature and

adjustments related to the exercise of certain ROFRs.
2. Operating netback does not have any standard meaning prescribed by
International Financial Reporting Standards (“IFRS”) and therefore may
not be comparable with the calculation of similar measures for other
entities. Operating netback equals total petroleum and natural gas sales
less royalties and operating costs calculated on a boe basis. Razor
considers operating netback as an important measure to evaluate its
operational performance as it demonstrates its field level profitability
relative to current commodity prices. The estimated operating netback
was derived using the Company’s 2017 commodity price forecast of
US$52.50/Bbl WTI, $2.50/MCF AECO, and a US/Canadian dollar exchange rate
of $0.75 with the average operating netback calculated from the closing
date of the Acquisition to December 31, 2017. See “Reader Advisories –
Non-IFRS Measures”.Gross Company Reserves. Reserves based on the Kaybob
Assets Reserves Report effective December 31, 2016 prepared in
accordance with the requirements of the COGE Handbook as required by NI
51-101.
3. Gross Company Reserves means Razor’s working interest reserves following
completion of the Acquisition before the calculation of royalties, and
before the consideration of the Company’s royalty interests.
4. The reserve life index (“RLI”) is calculated by dividing total proved
plus probable reserves estimated at 3,683 MBoe with estimated current
production of the Kaybob Assets of 759 boe/d.
5. Run rate cash flow does not have any standard meaning prescribed by IFRS
and therefore may not be comparable with the calculation of similar
measures for other entities. Run rate cash flow is based on annualized
current production of 759 boe/d multiplied by the operating netback for
the Kaybob Assets of $10.82/boe (see Note 2 above).

/T/

2017 CAPITAL BUDGET AND REVISED GUIDANCE

Given the volatility in commodity prices and Razor’s ability to grow production
through high frequency / low capital intensive projects, Razor expects to take
a disciplined and conservative approach to the 2017 budget. The capital budget
will be reviewed continuously by management and the board of directors of the
Company (the “Board”) for changes in commodity price assumptions and project
economics. Razor remains steadfast in its conviction to maintain its financial
advantage and build a top-tier junior oil and gas company.

For fiscal 2017, the capital expenditure budget of $13.0 million, which was
approved by the Board prior to the Acquisition, remains unchanged. Razor
continues to invest in a combination of reactivations, re-entries, optimization
activities and waterflood management. These initiatives will be split between
Swan Hills and Kaybob areas at management’s discretion. In addition, the budget
addresses the Alberta Energy Regulator’s requirement under the Inactive Well
Compliance Program including end of life well and facility spending.

With innovative focus and disciplined capital deployment in its Swan Hills and
Kaybob areas, the Company is well positioned to execute on its growth strategy
while maintaining financial flexibility.

The Company’s 2017 revised financial and operating guidance and assumptions are
as follows:

/T/

—————————————————————————-
Average daily production 2017
—————————————————————————-

Light oil (bbls/d) 2,581
—————————————————————————-
NGLs (bbls/d) 716
—————————————————————————-
Natural gas (mcf/d) 3,319
—————————————————————————-
Oil equivalent (boe/d) 3,850
—————————————————————————-
Capital expenditures $13.0 million
—————————————————————————-
Term Loan (maturity January 31, 2021) $30.0 million
—————————————————————————-
Working capital, December 31, 2017 $13.5 million
—————————————————————————-
Net debt, December 31, 2017 (“Exit Net Debt”) $16.5 million
—————————————————————————-
Funds flow from operations in 2017 (“2017 FFO”)(1) $9.5 million
—————————————————————————-
Exit Net Debt to 2017 FFO(1) 1.7x
—————————————————————————-
Assumptions:
—————————————————————————-
WTI (US$/bbl) $52.50
—————————————————————————-
Exchange rate (US$/C$) 0.75
—————————————————————————-
Light sweet oil differential to WTI (C$/bbl) ($4.00)
—————————————————————————-
Average corporate oil quality discount (C$/bbl) ($3.00)
—————————————————————————-
AECO gas (C$/mcf) $2.50
—————————————————————————-

1. “Funds flow from operations” and “net debt” do not have any standardized

meaning prescribed by IFRS. See “Reader Advisories – Non-IFRS Measures”.

/T/

Razor plans to continue to pursue value-driven acquisitions with a view towards
consolidation of land and production within the Company’s existing project
areas in addition to complementary shallow, light oil horizons within its
Alberta core region. Razor remains focused on adding to its inventory of high
quality projects to sustain longer-term growth.

ABOUT RAZOR

Razor Energy Corp. is a light oil focused company operating predominantly in
Alberta. Razor’s full-cycle business plan provides an opportunity to reposition
the Company as a disciplined and high-growth junior E&P company. With an
experienced management team and a strong, committed Board, growth is
anticipated to occur through timely strategic acquisitions and operations.
Razor currently trades on TSX Venture Exchange under the ticker “RZE”.

READER ADVISORIES

FORWARD-LOOKING STATEMENTS: This press release contains forward-looking
statements. More particularly, this press release contains statements
concerning, but not limited to: the anticipated annual decline rate; capital
program of the Company, including expected production and cash flow related to
the Acquisition; expected number of future drilling locations related to the
Acquisition; the Company’s reactivation program; matters relating to the 2017
capital budget; the Company’s 2017 guidance; and the Company’s acquisition
strategy. In addition, the use of any of the words “anticipate”, “believe”,
“expect”, “plan”, “intend”, “estimate”, “potential”, “can”, “will”, “should”,
“continue”, “may”, “envision” and similar expressions are intended to identify
forward-looking statements. The forward-looking statements contained herein are
based on certain key expectations and assumptions made by the Company,
including but not limited to expectations and assumptions concerning the
availability of capital, current legislation, receipt of required regulatory
approval, the success of future drilling and development activities, the
performance of existing wells, the performance of new wells, the Company’s
growth strategy, general economic conditions, availability of required
equipment and services and prevailing commodity prices. Although the Company
believes that the expectations and assumptions on which the forward-looking
statements are based are reasonable, undue reliance should not be placed on the
forward-looking statements because the Company can give no assurance that they
will prove to be correct. Since forward-looking statements 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, risks associated with the oil and gas industry in general (e.g.,
operational risks in development, exploration and production; delays or changes
in plans with respect to exploration or development projects or capital
expenditures; as the uncertainty of reserve estimates; the uncertainty of
estimates and projections relating to production, costs and expenses, and
health, safety and environmental risks), commodity price and exchange rate
fluctuations, changes in legislation affecting the oil and gas industry and
uncertainties resulting from potential delays or changes in plans with respect
to exploration or development projects or capital expenditures. Please refer to
the risk factors identified in the annual information form and management
discussion and analysis of the Company for the period ended December 31, 2016,
on SEDAR at www.sedar.com.

The forward-looking statements contained in this press release are made as of
the date hereof and the Company undertakes no 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.

NON-IFRS MEASURES: This press release contains the terms “funds flow from
operations”, “net debt”, “operating netback” and “run rate cash flow”, which do
not have standardized meanings prescribed by IFRS and therefore may not be
comparable with the calculation of similar measures by other companies. Funds
flow from operations represents cash flow from operating activities before
changes in non-cash working capital and decommissioning expenditures.
Management uses funds flow from operations to analyze operating performance and
leverage. Net debt is calculated as long-term debt less working capital (or
plus working capital deficiency), with working capital excluding mark-to-market
risk management contracts. Management believes net debt is a useful
supplemental measure of the total amount of current and long-term debt of the
Company. Operating netback equals total petroleum and natural gas sales less
royalties and operating costs calculated on a boe basis. Razor considers
operating netback as an important measure to evaluate its operational
performance as it demonstrates its field level profitability relative to
current commodity prices. The estimated operating netback was derived using the
Company’s 2017 commodity price forecast of US$52.50/Bbl WTI, $2.50/MCF AECO,
and a US/Canadian dollar exchange rate of $0.75 with the average operating
netback calculated from the closing date of the Acquisition to December 31,
2017. Run rate cash flow is based on annualized current production of 759 boe/d
multiplied by the operating netback for the Kaybob Assets of $10.82/boe.

ADVISORY ON PRODUCTION INFORMATION: Unless otherwise indicated herein, all
production information presented herein has presented on a gross basis, which
is the Company’s working interest prior to deduction of royalties and without
including any royalty interests.

DRILLING LOCATIONS. This press release discloses drilling inventory as unbooked
locations. Unbooked locations are internal estimates based on our prospective
acreage and an assumption as to the number of wells that can be drilled per
section based on industry practice and internal review. Unbooked locations do
not have attributed reserves or resources. Unbooked locations have been
identified by management as an estimation of the Company’s multi-year drilling
activities based on evaluation of applicable geologic, seismic, engineering,
production and reserves information. There is no certainty that the Company
will drill all unbooked drilling locations and if drilled, there is no
certainty that such locations will result in additional oil and gas reserves,
resources or production. The drilling locations on which Razor actually drill
wells will ultimately depend upon the availability of capital, regulatory
approvals, seasonal restrictions, oil and natural gas prices, costs, actual
drilling results, additional reservoir information that is obtained and other
factors. While certain of the unbooked drilling locations have been de-risked
by drilling existing wells in relative close proximity to such unbooked
drilling locations, other unbooked drilling locations are farther away from
existing wells where management has less information about the characteristics
of the reservoir and therefore there is more uncertainty whether wells will be
drilled in such locations and if drilled there is more uncertainty that such
wells will result in additional oil and gas reserves, resources or production.

BARRELS OF OIL EQUIVALENT: The term “boe” or barrels of oil equivalent may be
misleading, particularly if used in isolation. A boe conversion ratio of six
thousand cubic feet of natural gas to one barrel of oil equivalent (6 Mcf: 1
bbl) is based on an energy equivalency conversion method primarily applicable
at the burner tip and does not represent a value equivalency at the wellhead.
Additionally, 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 ratio of 6:1 may be misleading as an
indication of value.

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 news release.

– END RELEASE – 25/05/2017

For further information:
Doug Bailey
President and Chief Executive Officer
OR
Kevin Braun
Chief Financial Officer
OR
Razor Energy Corp.
1250, 645 7th Avenue S.W.
Calgary, Alberta T2P 4G8
(403) 262-0242
www.razor-energy.com

COMPANY:
FOR: RAZOR ENERGY CORP.
TSX VENTURE SYMBOL: RZE

INDUSTRY: Energy and Utilities – Oil and Gas
RELEASE ID: 20170525CC0024

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: STATOIL ASAOSLO SYMBOL: STLDate issue: May 25, 2017Time in: 8:00 AM eAttention:
STAVANGER, NORWAY–(Marketwired – May 25, 2017) – Statoil ASA (OSLO:STL)
(“Statoil”) announced today that it sold 22,805,892 Common Shares (“Shares”) of
International…

FOR: TOUCHSTONE EXPLORATION INC.
TSX SYMBOL: TXP

Date issue: May 25, 2017
Time in: 7:00 AM e

Attention:

CALGARY, ALBERTA–(Marketwired – May 25, 2017) – Touchstone Exploration Inc.
(“Touchstone” or the “Company”) (TSX:TXP) announces that it is proposing to
raise approximately $2.552 million through a private placement (“Private
Placement”). A total of 20,000,000 new common shares have been conditionally
placed (“Placing Shares”), at an issue price of 7.25 pence sterling
(approximately C$0.1276) per Placing Share (“Placing Price”) with new United
Kingdom institutional investors.

In addition, the Company announces its intention to seek a dual listing by
applying for admission of its issued and to be issued common shares of no par
value (“Common Shares”) to trading on the AIM market of the London Stock
Exchange (“Admission”). Dealings are expected to commence on AIM on June 26,
2017.

The issuance of the Placing Shares is conditional on customary closing
conditions, including the Admission becoming effective and the approval of the
Private Placement by the Toronto Stock Exchange (“TSX”). The Company’s Common
Shares will continue to trade on the TSX along with AIM under the trading
symbol TXP. The Placing Price represents a 20 percent discount to C$0.1589,
which is the volume weighted average price of the Company’s Common Shares for
the five trading days ending May 17, 2017. A price protection form was filed
with the TSX on May 17, 2017. The Placing Price was negotiated at arm’s length
between the Company and the joint brokers.

Paul Baay, President and Chief Executive Officer of Touchstone said, “I am
delighted to announce our intention to dual list on AIM. We have a low risk,
cash-generative production company in a proven petroleum region. Our growth
strategy involves an initial program for the drilling of four new wells and 24
well recompletions in 2017, of which we are pleased to announce the first well
has reached target depth. I look forward to welcoming our new investors when
Touchstone lists on AIM.”

Touchstone believes the dual listing provides a number of advantages, which
includes:

/T/

— enhancing liquidity for the Company’s shareholders and providing direct

access to the London capital markets;
— enabling the Company to access a wider range of potential investors and
broaden its investor base;
— improving the Company’s ability to access further funding from
international capital markets and to finance the future growth of the
business consistent with its current strategy; and
— enhancing the Company’s reputation and financial standing within
Trinidad.

/T/

The gross proceeds of the Private Placement are expected to be approximately
$2.552 million which, together with existing cash balances, are expected to be
used in drilling and development operations in 2017, for settlement of fees in
respect of the transaction, and for general working capital purposes.

Shore Capital is acting as Nominated Adviser and Joint Broker to the Company
alongside GMP FirstEnergy who is acting as Joint Broker. Additional information
is available in the Appendix to the AIM Schedule One Pre-Admission
Announcement, which will be available on the Company’s website
(www.touchstoneexploration.com).

Publication of Competent Person’s Report (“CPR”)

In conjunction with the dual-listing of the Company’s Common Shares on AIM, the
Company appointed GLJ Petroleum Consultants Ltd. to prepare a CPR which
estimated the reserves associated with the Company’s interests in Trinidad as
at December 31, 2016. A summary of the gross reserves associated with the
Company’s interests in Trinidad are presented in the table below.

/T/

—————————————————————————-

Light and
Medium Oil Heavy Oil Total Oil
(Mbbl) (Mbbl) (Mbbl)
—————————————————————————-

Proved

Proved producing 3,955 651 4,606
Proved non-producing 735 213 948
Proved undeveloped 2,890 533 3,423
—————————————————————————-
Total Proved 7,580 1,397 8,977
Probable 5,914 808 6,772
—————————————————————————-
Total Proved Plus Probable 13,494 2,205 15,698
—————————————————————————-
Possible 4,020 657 4,678
—————————————————————————-
Total Proved Plus Probable Plus Possible 17,514 2,862 20,376
—————————————————————————-
Notes:
1. Gross Reserves are the Company’s working interest share of the remaining
reserves before deduction of any royalties.
2. Amounts may not add due to rounding.
3. See “Other Advisories”.

/T/

The CPR will be filed under the Company’s issuer profile on SEDAR
(www.sedar.com) and on the Company’s website (www.touchstoneexploration.com).

About Touchstone

Touchstone Exploration Inc. is a Calgary based company engaged in the business
of acquiring interests in petroleum and natural gas rights, and the
exploration, development, production and sale of petroleum and natural gas.
Touchstone is currently active in onshore properties located in the Republic of
Trinidad and Tobago. The Company’s common shares are traded on the Toronto
Stock Exchange under the symbol “TXP”.

Advisories

For reference purposes in this press release, one British pound has been
translated into Canadian dollars at a rate of 1 to 1.76.

Forward-Looking Statements

Certain information regarding Touchstone set forth in this press release,
including assessments by the Company’s Management of the Company’s plans and
future operations, contains forward-looking statements that involve substantial
known and unknown risks and uncertainties. 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 other similar expressions. Statements relating to
“reserves” are 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 can be
profitably produced in the future. Such statements represent the Company’s
internal projections, estimates or beliefs concerning future growth, results of
operations based on information currently available to the Company based on
assumptions that are subject to change and are beyond the Company’s control,
such as: production rates and production decline rates, the magnitude of and
ability to recover oil and gas reserves, plans for and results of drilling
activity, well abandonment costs and salvage value, the ability to secure
necessary personnel, equipment and services, environmental matters, future
commodity prices, changes to prevailing regulatory, royalty, tax and
environmental laws and regulations, the impact of competition, future capital
and other expenditures (including the amount, nature and sources of funding
thereof), future financing sources, business prospects and opportunities, among
other things. Many factors could cause the Company’s actual results to differ
materially from those expressed or implied in any forward-looking statements
made by, or on behalf of, the Company.

In particular, forward-looking statements contained in this press release
include, but are not limited to, statements with respect to: the Private
Placement, including the number of Placing Shares, the Placing Price, the gross
proceeds generated therefrom and the anticipated uses of those proceeds; the
Admission, including the expected commencement of dealings thereunder and
benefits therefrom; projected production volumes; operating and development
costs; estimated reserves, including the life index thereof and the discounted
present value of future net revenues therefrom; exploration, development and
associated operational plans and strategies (including planned drilling and
recompletion programs), and the anticipated timing of, and sources of funding
for, such activities; and the terms of the Company’s contractual commitments
and the Company’s compliance therewith, including fulfilment of minimum work
obligations and repayment of loans.

The Company is exposed to numerous operational, technical, financial and
regulatory risks and uncertainties, many of which are beyond its control and
may significantly affect anticipated future results. The risk factors
applicable to the Company are set out in the Company’s Annual Information Form
dated March 21, 2017, which has been filed on SEDAR (www.sedar.com). Readers
are cautioned that the assumptions used in the preparation of such information,
although considered reasonable at the time of preparation, may prove to be
imprecise and as such, undue reliance should not be placed on forward-looking
statements. The Company does not undertake any 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 may be required by
applicable securities laws.

Other Advisories

The disclosure in this press release summarizes certain information contained
in the CPR and the Company’s December 31, 2016 reserves report, but represents
only a portion of the disclosure required under National Instrument 51-101 –
Standards for Disclosure of Oil & Gas Activities. Full disclosure with respect
to the Company’s reserves as at December 31, 2016 is contained in the Company’s
Annual Information Form for the year ended December 31, 2016 which is filed
under the Company’s issuer profile on SEDAR (www.sedar.com). All evaluations
and reviews of future net revenues use GLJ Petroleum Consultants Ltd.’s
standard price forecasts effective January 1, 2017 and are stated prior to any
provision for finance expenses or general and administrative costs and after
the deduction of estimated future capital expenditures and estimated future
well abandonment costs. It should not be assumed that the present worth of
estimated future net revenues contained in the CPR represent the fair market
value of the reserves. There is no assurance that the forecast prices and costs
assumptions will be attained and variances could be material. The recovery and
reserves estimates of crude oil provided herein are estimates only, and there
is no guarantee that the estimated reserves will be recovered. Actual crude oil
reserves may be greater than or less than the estimates provided herein.

Possible reserves are those additional reserves that are less certain to be
recovered than probable reserves. There is a 10% probability that the
quantities actually recovered will equal or exceed the sum of proved plus
probable plus possible reserves.

– END RELEASE – 25/05/2017

For further information:
Touchstone Exploration Inc.
Mr. Paul Baay
President and Chief Executive Officer
403.750.4487
OR
Touchstone Exploration Inc.
Mr. Scott Budau
Chief Financial Officer
403.750.4487
OR
Touchstone Exploration Inc.
Mr. James Shipka
Chief Operating Officer
403.750.4487
www.touchstoneexploration.com

COMPANY:
FOR: TOUCHSTONE EXPLORATION INC.
TSX SYMBOL: TXP

INDUSTRY: Energy and Utilities – Oil and Gas
RELEASE ID: 20170525CC0014

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.