Desmarais Energy Corporation
TSX VENTURE : DES

Desmarais Energy Corporation

February 15, 2012 20:16 ET

Desmarais To Increase Working Interests at Barrhead and Bigoray

CALGARY, ALBERTA--(Marketwire - Feb. 15, 2012) - Desmarais Energy Corporation (TSX VENTURE:DES) (the "Corporation" or "Desmarais") announces that it has entered into a purchase and sale agreement pursuant to which Desmarais has agreed to acquire certain oil and natural gas assets (the "Acquired Assets") located in the Barrhead and Bigoray areas of Alberta for total consideration of $160,000, net of outstanding AFE's and environmental liabilities, which purchase price shall be satisfied by way of issuance of 2,000,000 common shares of Desmarais at a deemed issue price of $0.08 per share.

The Acquired Assets represent an increased operated working interest in one producing oil well (100.00% from 50.00%); and an increased operated interest in two natural gas wells (88.29% from 50.00%) which are currently shut-in due to low commodity prices. The oil well produced an average 15 barrels of oil per day and 51 Mcf of natural gas per day in the 12 months ending on December 31, 2011. The effective date of the transaction is December 1, 2011.

The acquisition, and the Common Shares issuable pursuant thereto, are subject to the satisfaction of the conditions to closing as well as the receipt of all necessary third party and regulatory approvals, including but not limited to the TSX Venture Exchange.

Reader Advisory: The press release may contain certain forward looking statements which may include plans, expectations, forecasts, projections, guidance or other statements that are not statements of fact, including without limiting the generality of the foregoing, the number of common shares issuable pursuant to the acquisition and the benefits (including production rates) thereof. Although Desmarais believes that the expectations reflected in such forward looking statements are reasonable, it cannot give any assurance that such expectations will prove to be correct. The effect of the acquisition and related matters are subject to a number of conditions which Desmarais cannot give any assurance that such conditions will be met on a timely basis, or if at all, as certain of the conditions are in the control of other parties. As such, the future plans and objectives of Desmarais are forward looking statements that involve risks and uncertainties that may be based on assumptions that could cause actual results to differ materially from those anticipated or implied in such statements. The foregoing list of risk factors is not exhaustive. Additional information on risk factors is included in other public documents available under Desmarais' profile on SEDAR. Although Desmarais has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in the forward looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. In making its forward looking statements, Desmarais used, among others, the following material factors or assumptions to develop forward looking information enumerated above: the known attributes of the properties subject to the acquisition. Desmarais' forward looking statements are expressly qualified in their entirety by this cautionary statement. Unless otherwise required by applicable securities laws, Desmarais does not intend, nor does it undertake any obligation, to update or review any forward looking statements to reflect subsequent information, events, results or circumstances or otherwise.

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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