Big Sky Petroleum Completes Lateral Fracture Stimulation of Well 14-29

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 13, 2012) - Big Sky Petroleum Corporation (TSX VENTURE:BSP) has completed fracture stimulation of its first well, (14-29) completed the vertical drilling and casing of its second well (15-13), permitted for a third well (4-3) and is working on permitting for a fourth well (81-4).

The 14-29 Well located in Sec 29-35N-1W of Toole County, Montana has been fracture stimulated and is currently undergoing testing and evaluation. The approximate 4,100 feet lateral section targeted the Middle Bakken Formation. Further results are expected to be received in March. This data will determine the potential economics of this well and will also be used for planning fracturing completions for future wells including the 15-13 Well.

The 15-13 Well is located approximately 3 miles south-west of the 14-29 Well and was vertically drilled and cased. The next operation planned for this well is horizontal drilling and completion including a planned 26 stage fracture stimulation. This operation is scheduled for the second quarter.

Permitting has been obtained on a new well - the 4-3 Well - which is anticipated to be spud in the second quarter.

The 81-4 Well is another new well located in Glacier County, Montana, and is expected to receive permitting approval by the end of March. Once approval for the 81-4 Well has been obtained, the first phase of drilling this new well will be completed. Big Sky previously re-entered, deepened, and stimulated the 81-3 Well which confirmed the presence of oil and provided the basis for drilling the 81-4 Well.

Sam Nastat, President of Big Sky, commented that, "We continue to be very optimistic about our exploration program and our early entry into the Alberta Bakken. The team has done a great job in completing work for each well and we plan to continue this level of activity during 2012."

About Big Sky

Big Sky is an oil and gas exploration and development company based in Billings, Montana, with its main focus primarily on the exploration and development of oil and gas in the Alberta Basin, commonly referred to as the Bakken source system. Big Sky owns a 33.333% working interest in approximately 100,000 net acres in Toole and Glacier counties, Montana.

On behalf of the Board,

Sam Nastat, President

This press release contains "forward-looking information". Such forward-looking statements reflect our current views with respect to future events and are subject to certain risks, uncertainties and assumptions, including, the risks and uncertainties outlined in our most recent financial statements and reports and registration statement filed with the Canadian securities administrators (available at www.sedar.com). Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, believed, estimated or expected.