Black Birch Capital Terminates Previously Announced Transaction With Richfield Oils Inc.

TORONTO, ONTARIO--(Marketwire - May 17, 2012) - Black Birch Capital Acquisition II Corp. ("Black Birch") (TSX VENTURE:BBT.P), a capital pool company (as defined in Policy 2.4 (the "CPC Policy") of the TSX Venture Exchange (the "Exchange")), today terminated its previously announced (see April 27, 2012 press release) Proposed Transaction with Richfield Oils Inc.

The Exchange has in no way passed upon the merits of the Proposed Transaction and has neither approved nor disapproved the contents of this press release.

Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results may differ materially from results inferred or suggested in any forward-looking statements. Black Birch assumes no obligation to update the forward-looking statements, or to update the reasons why actual results may differ from those reflected in forward-looking statements unless and until required by applicable securities laws. Additional information identifying risks and uncertainties is contained in Black Birch's filings with the Canadian securities regulators, which filings are available at www.sedar.com.