Contact Exploration Inc.

TSX VENTURE : CEX


Contact Exploration Inc.

February 28, 2013 20:28 ET

Contact Exploration Announces Filing of Third Quarter Results and Increased Credit Facilities

CALGARY, ALBERTA--(Marketwire - Feb. 28, 2013) -

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Contact Exploration Inc. (TSX VENTURE:CEX) announces that it has filed its unaudited Condensed Interim Consolidated Financial Statements for the three and nine month periods ended December 31, 2012 and the related Management's Discussion and Analysis on www.sedar.com.

Increased Credit Facilities

Based on a recent production review, Contact's financial institution, Canadian Western Bank, has increased the Credit Facilities being offered to the Company to a $3 million credit facility and a non-revolving acquisition or development loan of $1.5 million effective March 1, 2013. This represents a $1 million increase on the main credit facility and $500,000 increase to the acquisition or development loan which the Company previously had in place. The remainder of the terms and conditions remain consistent with previous agreements and both facilities remain undrawn.

About Contact Exploration Inc.

Contact Exploration Inc. is a public oil and gas company which has a long-term history of operating in Atlantic Canada and has recently demonstrated success in Alberta's liquids-rich Montney Formation tight gas play. For more information, please see the Company's website: www.contactexp.com.

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.

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