The Supreme Court of British Columbia Confirms Composition of Special Committee and Changes Date of Requisitioned Special Meeting to January 15, 2013

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 26, 2012) - The special committee (the "Committee") of the Board of Directors (the "Board") of Xemplar Energy Corp. (the "Company") (TSX VENTURE:XE)(FRANKFURT:E7R)(NAMIBIAN:XEM)announced that, further to its press release of November 13, 2012, the Supreme Court of British Columbia has issued several orders in connection with the previously announced requisitioned meeting of shareholders (the "Meeting").

The Supreme Court of British Columbia issued the following orders on November 23, 2012:

• the Committee established by the Board of the Company on October 18, 2012 is comprised of Gerard Pallotta, Ronald Mitchell and Simon Tam (Chair);
  
  
• the Committee has full and exclusive authority to carry out and fulfill the mandate that it was given or granted by the Board on October 18, 2012 (the "Mandate");
  
  
• those persons who are authorized to issue payments, by and on behalf of the Company, shall issue such payments as may be required to pay for the reasonable expenses authorized and incurred by the Committee to carry out and fulfill the Mandate;
  
  
• the Meeting called by the Board in response to the requisition delivered to the Company by Fursa Master Global Event Driven LP on October 4, 2012 (the "Requisition"), shall take place on January 15, 2013; and
  
  
• an order that the record date for the Meeting set by the Board in response to the Requisition shall continue to be December 6, 2012.
  
  

The Meeting is scheduled to take place on January 15, 2013. The record date for determining shareholders entitled to notice of the Meeting and to vote at the Meeting will be December 6, 2012.

Further information, as well as the text of the Requisition, will be set out in a management information circular that will be mailed to shareholders and posted to SEDAR and the Company's website in due course.

XEMPLAR ENERGY CORP.

Ron Mitchell, Chairman and Director

Certain statements contained in this press release may include forward-looking information with respect to the Company's operations and future financial results. Such statements are based on current expectations, are subject to a number of uncertainties and risks, and actual results may differ materially from those contained in such statements. Further information can be found in the disclosure documents filed by the Company at www.sedar.com.