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Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to: operational risks in development, exploration and production for oil and gas; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve and resource estimates; health, safety and environmental risks; commodity price and exchange rate fluctuations; marketing and transportation; loss of markets; environmental risks; competition, incorrect assessment of the value of acquisitions; ability to access sufficient capital from internal and external sources; management's assessment of future plans and operations, production levels and the weighting thereof, operating income, the 2013 capital expenditure budget, the nature of capital expenditures, 2013 year-end bank debt, the grant of restricted share units and stock options; and changes in legislation, including but not limited to tax laws, royalties and environmental regulations. Readers are cautioned that the forgoing list of factors is not exhaustive.

Management has included the above summary of assumptions and risks related to the forward-looking statements and information provided in this press release in order to provide Kelt shareholders with a more complete perspective on the ongoing operations of Kelt and such information may not be appropriate for other purposes. Actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and information and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements and information contained in this press release will transpire or occur, or if any of them do so, what benefits may be derived therefrom.

The forward-looking statements and information contained in this press release are made as of the date hereof and Kelt undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events, or results or otherwise, other than as required by applicable securities laws.

Measurements and Abbreviations

All dollar amounts are referenced in Canadian dollars, except if noted otherwise. Where amounts are expressed on a barrel of oil equivalent ("BOE") basis, natural gas volumes have been converted to oil equivalence at six thousand cubic feet per barrel and sulphur volumes have been converted to oil equivalence at 0.6 long tons per barrel. The term BOE may be misleading, particularly if used in isolation. A BOE conversion ratio of six thousand cubic feet per barrel is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. References to oil in this discussion include crude oil and natural gas liquids ("NGLs"). NGLs include condensate, pentane, propane, butane and ethane. References to gas in this discussion include natural gas and sulphur.

Working interest is abbreviated as "WI". Million cubic feet is abbreviated as "mmcf". Thousand cubic feet is abbreviated as "mcf". Barrels are abbreviated as "bbls". Giga joules are abbreviated as "GJ". West Texas Intermediate is abbreviated as "WTI". New York Mercantile Exchange is abbreviated as "NYMEX". The Alberta Energy Company "C" Meter Station of the Nova Pipeline System is abbreviated as "AECO".



Contacts:
Kelt Exploration Ltd.,
David J. Wilson
President and Chief Executive Officer
(403) 201-5340

Kelt Exploration Ltd.,
Sadiq H. Lalani
Vice President, Finance and Chief Financial Officer
(403) 215-5310

Kelt Exploration Ltd.,
Suite 600, 321 - 6th Avenue SW
Calgary, Alberta, Canada T2P 3H3