Centaurus Capital LP has Acquired Shares of Open Range Energy Corp.

TORONTO, ONTARIO--(Marketwire - Aug. 8, 2012) - Centaurus Capital LP ("Centaurus") announces that through funds it manages, it has acquired control of 7,432,727 common shares of Open Range Energy Corp. ("Open Range") representing approximately 9.95% of the issued and outstanding common shares of Open Range. Centaurus acquired all of its common shares of Open Range since the original announcement by Open Range on May 31, 2012 that it had entered into an arrangement agreement pursuant to which Cequence Energy Ltd. had agreed to acquire all of the issued and outstanding common shares of Open Range. Subsequently, on July 3, 2012, Open Range announced that it had entered into an arrangement agreement pursuant to which Peyto Exploration & Development Corp. had agreed to acquire all of the issued and outstanding common shares of Open Range and that the arrangement agreement with Cequence Energy Ltd. had been terminated.

Centaurus acquired the common shares of Open Range in the open market through the facilities of the Toronto Stock Exchange. Centaurus acquired the common shares for investment purposes only. Centaurus may, depending on market and other conditions, acquire or sell further common shares of Open Range from time to time for such investment purposes.

Centaurus is a private investment management company. We manage assets by selectively investing capital on the basis of a rigorous bottom-up fundamental approach. As part of our flexible multi-strategy approach, we make investments in equity and credit securities of companies that are undergoing significant corporate events or are experiencing other major changes.