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Renegade Petroleum Ltd. Announces Record Production and Significant Reserve Growth

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CALGARY, ALBERTA -- (Marketwire) -- 03/21/13 -- Renegade Petroleum Ltd. ("Renegade" or the "Company") (TSX VENTURE: RPL) is pleased to announce it has filed on SEDAR its audited annual consolidated financial statements ("Financial Statements") and related management's discussion and analysis ("MD&A") for the three months and year ended December 31, 2012. Selected financial and operational information is outlined below and should be read in conjunction with the Financial Statements and related MD&A which are available for review at www.renegadepetroleum.com or www.sedar.com.

Renegade is also pleased to announce the results of its 2012 year-end reserves evaluation by Sproule Associates Limited ("Sproule"), an independent reserves evaluator, for 100% of Renegade's oil and gas properties, prepared in accordance with National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities ("NI 51-101") and the COGE Handbook.

2012 HIGHLIGHTS

-- Created the highest light oil weighted dividend paying corporation in the Canadian public markets generating some of the highest netbacks and strong cash flow;-- Renegade attained some of the highest production rates on individual wells in the Company's history with multiple wells targeting both the Souris Valley and Frobisher formations exceeding 30-day average initial production ("IP") rates of 200 barrels of oil ("bbl") per day ("bbl/d") with peak rates during that 30-day period of 300 bbl/d. The success from the Company's 2012 internal drilling program is directly analogous to the trends the Company will be exploiting on its significant southeast Saskatchewan land base;-- Increased total proved plus probable reserves by 164% to 33.7 million boe and increased total proved reserves by 181% to 23.9 million boe, weighted 94% to light-oil and natural gas liquids;-- Generated a finding, development and acquisition ("FD&A"), including future development costs, recycle ratio of 1.7 times on a proved plus probable basis based on a 2012 annual operating netback of $51.21/boe; and-- Subsequent to December 31, 2012, Renegade has entered into a definitive agreement to sell non-core assets for $13 million in cash. The proceeds will be used to reduce debt.



FOURTH QUARTER 2012 HIGHLIGHTS

-- Achieved record average production of 4,435 barrels of oil equivalent ("boe") per day ("boe/d") (97% light oil) for the three months ended December 31, 2012, up 22 percent from the comparable quarter of 2011 and 13 percent over the third quarter of 2012;-- Acquired approximately 3,600 boe/d of light oil production (94% light oil) within the Company's existing core area of southeast Saskatchewan (the "Acquired Assets") from a senior Canadian producer on December 14, 2012; and-- Hedged approximately 71 percent and 59 percent of its expected oil production, net of royalty interest, for the balance of 2013 and 2014, respectively. Average WTI hedge prices range from C$93.94 per bbl for the remainder of 2013 to C$92.46 per bbl in 2014.



FINANCIAL & OPERATING HIGHLIGHTS

---------------------------------------------------------------------------- Three months ended December 31, Year Ended December 31, -------------------------------------------------------- 2012 2011 % change 2012 2011 %change --------------------------------------------------------Financial (000's except per share amounts)Petroleum and natural gas sales 30,563 30,327 1 112,399 80,031 40Funds flow from operations (1) 15,452 16,178 (4) 59,831 39,994 50 Per share - basic 0.14 0.21 (33) 0.65 0.56 16 Per share - diluted 0.14 0.21 (33) 0.63 0.54 17Net loss (37,331) (103) (36,144) (29,458) (2,645) (1,014) Per share - basic and diluted(2) (0.33) (0.00) (3,300) (0.32) (0.04) (700)Dividends declared 3,890 - n/a 3,890 - n/a Per share 0.02 - n/a 0.02 - n/aCapital expenditures 442,651 31,842 1,290 552,619 111,923 394Net debt(3) 290,546 76,084 282 290,546 76,084 282----------------------------------------------------------------------------Weighted average shares outstanding(2) Basic and diluted 111,805 77,308 45 92,229 72,060 28----------------------------------------------------------------------------Shares outstanding, end of period(2) Basic 202,947 77,308 163 Diluted 216,760 86,595 150----------------------------------------------------------------------------OperatingAverage daily production Crude oil (bbls/d) 4,286 3,489 23 3,773 2,380 59 Natural gas (Mcf/d) 688 635 8 699 555 26 Natural gas liquids (bbls/d) 34 32 6 40 18 122---------------------------------------------------------------------------- Total (boe/d) (4) 4,435 3,627 22 3,930 2,491 58----------------------------------------------------------------------------Average realized price Crude oil and natural gas liquids ($/bbl) 76.50 93.27 (18) 80.22 91.07 (12) Natural gas ($/mcf) 2.50 1.97 27 1.74 1.59 9---------------------------------------------------------------------------- Total ($/boe) (4) 74.91 90.89 (18) 78.15 88.04 (11)----------------------------------------------------------------------------Netback ($/boe) Oil and gas sales 74.91 90.89 (18) 78.15 88.04 (11) Royalties (12.66) (14.31) (12) (12.64) (15.43) (18) Operating expenses (15.56) (14.21) 10 (14.00) (15.34) (9) Transportation (2.81) (2.97) (5) (2.89) (2.79) 4 Realized gain on derivative contracts 4.96 - n/a 2.59 - n/a---------------------------------------------------------------------------- Operating Netback(4) 48.84 59.40 (18) 51.21 54.48 (6)----------------------------------------------------------------------------(1) "Funds flow from operations" should not be considered an alternative to, or more meaningful than, cash flow from operating activities as determined in accordance with International Financial Reporting Standards as an indicator of Renegade's performance. "Funds flow from operations" represents cash flow from operating activities prior to changes in non-cash working capital, transaction costs and decommissioning provision expenditures incurred. Renegade also presents funds flow from operations per share whereby per share amounts are calculated using weighted average shares outstanding consistent with the calculation of earnings per share.(2) Due to the anti-dilutive effect of Renegade's net loss for the three months and year ended December 31, 2012 and 2011, the diluted number of shares is equal to the basic number of shares. Therefore, diluted per share amounts of the net loss are equivalent to basic per share amounts.(3) Current assets less current liabilities, excluding derivative financial instruments.(4) A conversion ratio of 1 boe: 6 Mcf has been used, which is based on an energy equivalency conversion method primarily applicable at the burner tip and does not necessarily represent a value equivalency at the wellhead. Boes may be misleading, particularly if used in isolation.



OPERATIONAL UPDATE

During the first quarter of 2013, Renegade has continued its transition to a sustainable dividend paying corporation. Management remains focused on allocating the Company's capital program to areas that provide predictable results and strong capital efficiencies which continue to drive free cash flow and the sustainability of the income plus growth model. As such, the drilling program has been concentrated on Renegade's core assets in southeast Saskatchewan and its Viking assets in west central Saskatchewan.

Acquired Assets

On December 14, 2012, Renegade acquired approximately 3,600 boe/d from a senior producer in Canada. The Acquired Assets have performed as expected, with highly predictable cash flows and operating results. Production has been held at approximately 3,600 boe/d with minimal sustaining capital. During the first quarter, Renegade executed an effective capital maintenance program through work-overs and optimizations that translated into capital efficiencies of less than $15,000 per boe/d. Renegade will continue its capital maintenance program on the Acquired Assets throughout the balance of the 2013 year in order to effectively manage the Company's capital efficiencies and offset corporate declines.

In addition, Renegade has increasing confidence in the large inventory of potential drilling locations on the Acquired Assets. Of the previously announced 200 locations, the Company has completed full technical evaluations on over 75 locations and is well positioned to commence its drilling program coming out of break-up with a stable inventory of low risk locations.

West Central Saskatchewan - Viking Assets

Renegade continues to be an industry leading producer in the west central Saskatchewan Viking play with cumulative recovery results that exceed our independent reserve evaluator type curves. Renegade has drilled 22 gross (22.0 net) Viking wells in the first quarter of 2013 through a combination of 80 acre and 40 acre spacing with a 100% success rate.

The team has continued to improve and adjust its completion techniques in the Viking play during the first quarter and has delivered production rates which exceed the play and area averages. The 30-day IP rates in the Viking for the first quarter have increased by more than 22% from 2012 to an average IP rate of approximately 60 bbl/d on the first 12 gross (12.0 net) wells. Renegade continues to experience all-in costs of approximately $950 thousand per well.

Southeast Saskatchewan

During the fourth quarter of 2012, Renegade drilled a successful well in the Crystal Hills area targeting the Souris Valley, which continues to outperform with 90-day average IP rates of 240 bbl/d. Additionally in the Wordsworth area a well was drilled targeting the Frobisher formation and had a 60-day average IP rate of 140 bbl/d.

During the first quarter, Renegade drilled and completed 2 operated gross wells (1.0 net well) in southeast Saskatchewan. The Company drilled 1 gross (0.5 net) well in Crystal Hills targeting the Souris Valley that produced at a 30-day average IP rate in excess of 125 bbl/d which continues to be optimized. The recently drilled well in Wordsworth is currently in the process of being completed with plans to have the well producing prior to break-up.

Balance Sheet Management & Subsequent Events

Renegade management is committed to maintaining a prudent capital structure and reducing its overall indebtedness and focusing efforts on assets which help sustain a dividend paying model. Renegade will continuously review its asset base with the intention of pursuing accretive dispositions in non-core areas, complemented by strategic acquisitions within its core focus areas.

As at December 31, 2012, Renegade had $268 million drawn on its $325 million operating line. Renegade's debt was higher than expected as a result of higher than anticipated closing adjustments on the Acquired Assets and delays in planned dispositions of certain non-core assets.

During the first quarter of 2013, Renegade has entered into a definitive agreement to sell non-core assets for $13 million in cash. The proceeds from this disposition will be used to reduce debt.

RESERVES

Sproule has completed their evaluation report of Renegade's reserves dated March 21, 2013, effective as of December 31, 2012 (the "Renegade Report"). All values referred to in this press release are based on Sproule's forecast prices and costs at December 31, 2012 and are based on "company interest reserves" (working interest plus royalty interest prior to deduction of royalty burdens) unless otherwise noted.

The Renegade Report was evaluated as at December 31, 2012 by Sproule in accordance with NI 51-101 and the COGE Handbook. The following tables provide summary information presented in the Renegade Report effective December 31, 2012 and based on Sproule's December 31, 2012 price forecast.

Reserves Reconciliation (5)

The following is a reconciliation of Renegade's reserve changes in the Company's gross working interest reserves at December 31, 2011 to the reserves at December 31, 2012.

---------------------------------------------------------------------------- Proved plus(mboe) Proved Probable Probable----------------------------------------------------------------------------Opening Balance, December 31, 2011 8,502 4,298 12,801Net Additions 16,943 6,762 23,705Economic Factors (32) (5) (37)Production (1,382) - (1,382)Technical Revisions (165) (1,185) (1,350)----------------------------------------------------------------------------Closing Balance December 31, 2012 23,867 9,870 33,737----------------------------------------------------------------------------(5) The term "gross working interest" means Renegade's working interest (operated or non-operated) share before deduction of royalties and without including any royalty interests of Renegade, which is referred to as "Gross" reserves under NI 51-101.



Capital Program Efficiency (6) (7) (8)

The efficiency of the Company's capital program for the year ended December 31, 2012 is summarized below:

---------------------------------------------------------------------------- December 31, 2012 December 31, 2011---------------------------------------------------------------------------- Proved Plus Proved Plus Proved Probable Proved Probable----------------------------------------------------------------------------Capital Expenditures ($000's) Exploration, Development and Facilities 119,884 119,884 102,710 102,710 Acquisitions 432,735 432,735 57,134 57,134 Change in Future Development Costs ("FDC") 121,994 136,577 48,732 73,271---------------------------------------------------------------------------- Total Costs 674,613 689,196 208,576 233,115----------------------------------------------------------------------------Finding & Development Costs ($/boe) Excluding FDC 22.80 17.75 25.77 18.02 Including FDC(9) 38.77 32.13 38.00 30.87----------------------------------------------------------------------------Finding, Development and Acquisition Costs ($/boe) Excluding FDC 32.96 24.74 30.60 21.71 Including FDC 40.24 30.85 34.45 27.64----------------------------------------------------------------------------(6) Finding and development costs, both including and excluding acquisitions, have been presented above. While NI 51-101 requires the effects of acquisitions and dispositions be excluded, FD&A costs have been presented because acquisitions and dispositions can have a significant impact on the Company's ongoing reserve replacement costs and excluding these amounts could result in an inaccurate portrayal of the Company's cost structure.(7) Under NI 51-101, the methodology to be used to calculate FD&A costs includes incorporating changes in future development capital required to bring the proved undeveloped and probable reserves to production. For continuity, Renegade has presented herein FD&A costs calculated both excluding and including future development capital.(8) The aggregate of the exploration, development and facility costs incurred in the most recent financial year and the change during that year in estimated future development costs generally will not reflect total finding and development costs related to reserve additions for that year.(9) Change in future development costs used in the calculation of F&D have been adjusted to account for the future development costs contained within the 2012 and 2011 reserves of the acquired assets.



Reserves Highlights

---------------------------------------------------------------------------- December 31, 2012 December 31, 2011---------------------------------------------------------------------------- Proved Plus Proved Plus Proved Probable Proved Probable----------------------------------------------------------------------------Recycle Ratio Annual Operating Netback ($/boe) 51.21 51.21 54.27 54.27 FD&A Costs (including FDC, $/boe) 40.24 30.85 34.45 27.64---------------------------------------------------------------------------- Recycle Ratio 1.3 1.7 1.6 2.0----------------------------------------------------------------------------Reserves Reserves Additions Including Revisions (mboe) 16,746 22,318 5,224 7,364 Annual Production (mboe) 1,382 1,382 906 906---------------------------------------------------------------------------- Reserves Replacement 12.1 16.1 5.8 8.1----------------------------------------------------------------------------Reserve Life Index(10) Total Company Gross Interest Reserves (mboe) 23,867 33,737 8,052 12,801 Annual Production (mboe) 2,920 2,920 1,388 1,388---------------------------------------------------------------------------- Reserve Life Index based on annual production 8.2 11.6 6.1 9.2----------------------------------------------------------------------------(10) The reserve life index is calculated by dividing reserves as at the effective date of the Sproule Report, December 31, 2012, by the December 2012 exit production, representing a measure of the amount of time production could be sustained at the production rates based on the reserves at the applicable point in time.



Summary of Company Gross Working Interest Oil and Gas Reserves - Forecast Prices and Costs (11)

A summary of the Company's gross working interest oil and gas reserves using forecast pricing and costs are as follows:

---------------------------------------------------------------------------- Future DevelopmentDecember 31, Costs 2012 Oil (mbbl) Gas (mmcf) NGL (mbbl) Total (mboe) ($000's)----------------------------------------------------------------------------Proved Producing 13,975 6,416 479 15,523 508Proved Non- Producing 138 79 5 157 129Proved Undeveloped 7,495 3,171 164 8,187 212,417----------------------------------------------------------------------------Total Proved 21,608 9,666 648 23,867 213,054Probable 9,033 3,565 244 9,870 49,122----------------------------------------------------------------------------Total Proved plus Probable 30,641 13,232 892 33,737 262,176----------------------------------------------------------------------------(11) The term "gross working interest" means Renegade's working interest (operated or non-operated) share before deduction of royalties and without including any royalty interests of Renegade, which is referred to as "Gross" reserves under NI 51-101.



Summary of Before Tax Net Present Values (12) (13) (14)

The Company's before tax net present value of reserves, as at December 31, 2012, is summarized below.

---------------------------------------------------- Before Tax Net Present Value ($000's) ---------------------------------------------------- Discount Rate----------------------------------------------------------------------------Description Undiscounted 5% 10% 15% 20%----------------------------------------------------------------------------Proved Producing 672,860 500,807 408,657 349,780 308,365Proved Non-Producing 5,911 4,766 3,978 3,409 2,981Proved Undeveloped 234,740 164,275 117,048 84,137 60,425----------------------------------------------------------------------------Total Proved 913,512 669,848 529,683 437,326 371,771Probable 461,068 273,296 183,355 132,325 100,282----------------------------------------------------------------------------Total Proved Plus Probable 1,374,580 943,144 713,038 569,651 472,053----------------------------------------------------------------------------(12) Based on Sproule's December 31, 2012 escalated price forecast.(13) It should not be assumed that the present worth of estimated future cash flow presented in the tables above represents the fair market value of the reserves. There is no assurance that the forecasted prices and cost assumptions will be attained and variances could be material. The recovery and reserve estimates of Renegade's oil, natural gas liquids and natural gas reserves provided herein are estimates only and there is no guarantee that the estimated reserves will be recovered. Actual oil, natural gas and natural gas liquids reserves may be greater than or less than the estimates provided herein.(14) All future net revenues are stated prior to provision for interest, general and administrative expenses and after deduction of royalties, operating costs and estimated future capital expenditures. Estimated values of future net revenue disclosed herein do not represent fair market value.



NET ASSET VALUE PER SHARE

The following table outlines Renegade's net asset value ("NAV") per share (unaudited) using the proved plus probable reserve value at December 31, 2012 and forecasted pricing and costs:

---------------------------------------------------------------------------- (000's, except perDecember 31, 2012 share amounts)----------------------------------------------------------------------------Proved Plus Probable NPV 10% Reserve Value (before tax) 713,038Plus: Undeveloped Land (209,698 acres at $500/acre) 104,849Less: December 31, 2012 Net Debt (290,546)Plus: In The Money Dilutive Instruments 7,395----------------------------------------------------------------------------Net Asset Value 534,736Basic Common Shares Outstanding Plus In The Money Dilutive Shares 207,040----------------------------------------------------------------------------Net Asset Value Per Share $2.58----------------------------------------------------------------------------



OUTLOOK

2012 was one of Renegade's most active and successful years to date. The Company was successful in achieving some of its highest initial production rates on individual wells in the Company's history from its organic drilling program in southeast Saskatchewan. In addition, the Company was successful in transforming itself into a sustainable dividend paying corporation through its acquisition of approximately 3,600 boe/d of low decline assets in its core operating area in southeast Saskatchewan.

Renegade has assembled a solid portfolio of high-quality assets in southeast Saskatchewan and in the Viking play in west central Saskatchewan and is the highest light oil weighted income plus growth company in the Canadian marketplace. The Company is focused on executing a capital program in areas that provide predictable results and strong capital efficiencies throughout its asset base.

The Company has added significant depth to its management team through the hire of Brad Wakefield as Vice President Exploitation, a 20 year veteran from a senior Canadian producer. In addition, the team has strengthened its engineering, geological and geophysical technical teams throughout the first quarter by hiring a number of 20 year plus light oil specialists. The team Renegade has assembled strengthens the technical and operational execution of its business strategy.

As at March 21, 2013, Renegade's current production is 8,000 boe/d based on field receipts. Of the 22.0 net Viking wells that were drilled in the first quarter, 18.0 net wells have been brought on production, and the 4.0 remaining net wells are in the process of being brought onto production. Renegade anticipates having all of the Viking wells on production by March 31, 2013.

The Company is preparing for an extended break up season by strategically placing service rigs throughout the field to ensure repair and maintenance delays are minimized. In addition, the facilities and infrastructure associated with the Acquired Assets are tied into sales pipelines that will mitigate production down time. In addition, through its two core areas in southeast Saskatchewan and the Viking, Renegade has the flexibility to adjust its drilling program coming out of break-up.

Renegade continues to implement its disciplined WTI hedging strategy to provide increased certainty over cash flow and dividends. As at March 21, 2013, the Company had hedged approximately 71 percent and 59 percent of its expected oil production, net of royalty interest, for the balance of 2013 and 2014, respectively. Average WTI hedge prices are currently C$93.94 per bbl for the remainder of 2013 and C$92.46 per bbl in 2014.

CORPORATE INFORMATION

Renegade's common shares trade on the TSX Venture Exchange under the symbol RPL. Renegade currently has approximately 203.1 million shares outstanding and 211.8 million fully-diluted shares.

READER ADVISORIES

Forward-Looking Statements

Statements in this document may contain forward-looking information including management's assessment of future plans and operations including drilling locations and plans, reserve estimates and the total future capital associated with development of reserves, matters related to the Renegade Report, capital expenditures, matters related to dividends and matters related to hedging. The reader is cautioned that assumptions used in the preparation of such information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. These risks include, but are not limited to: the risks associated with the oil and gas industry; commodity prices, and; exchange rate changes. Industry related risks could include, but are not limited to: operational risks in exploration; proposed dispositions not being completed or if completed, not providing the benefits expected; development and production; delays or changes in plans; risks associated to the uncertainty of reserve estimates; health and safety risks, and; the uncertainty of estimates and projections of production, costs and expenses. The recovery and reserve estimates of Renegade's reserves provided herein are estimates only and there is no guarantee that the estimated reserves will be recovered. In addition, forward-looking statements or information are based on a number of factors and assumptions which have been used to develop such statements and information but which may prove to be incorrect.

Although the Company believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward-looking statements because the Company can give no assurance that such expectations will prove to be correct. In addition to other factors and assumptions which may be identified herein, assumptions have been made regarding, among other things: the impact of increasing competition; the general stability of the economic and political environment in which the Company operates; the timely receipt of any required regulatory approvals; the ability of the Company to obtain qualified staff, equipment and services in a timely and cost efficient manner; drilling results; the ability of the operator of the projects which the Company has an interest in to operate the field in a safe, efficient and effective manner; the ability of the Company to obtain financing on acceptable terms; field production rates and decline rates; the ability to replace and expand oil and natural gas reserves through acquisition, development and exploration; the timing and costs of pipeline, storage and facility construction and expansion and the ability of the Company to secure adequate product transportation; future commodity prices; currency, exchange and interest rates; the regulatory framework regarding royalties, taxes and environmental matters in the jurisdictions in which the Company operates; and the ability of the Company to successfully market its oil and natural gas products. Readers are cautioned that the foregoing lists of factors and assumptions are not exhaustive. Additional information on these and other factors that could affect the Company's operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com), at the Company's website (www.renegadepetroleum.com.). Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

Certain Oil & Gas Matters

Any references in this news release to IP rates are useful in confirming the presence of hydrocarbons, however, such rates are not determinative of the rates at which such wells will continue production and decline thereafter are not necessarily indicative of long term performance or ultimately recovery. While encouraging, readers are cautioned not to place reliance on such rates in calculating the aggregate production for the Company.

Certain information in this news release may constitute "analogous information" as defined in NI 51-101, including, but not limited to, information relating to areas in geographical proximity to lands the Renegade expects to conduct operations on in 2013. Such information is not an estimate of the reserves or resources attributable to lands held or to be held by Renegade and there is no certainty that the reservoir data and economics information for the lands held or to be held by Renegade will be similar to the information presented herein. The reader is cautioned that the data relied upon by Renegade may be in error and/or may not be analogous to such lands to be held by Renegade.

Any references in this news release to undiscounted or discounted net present values of future net revenue do not represent the fair market value of the reserves.

The aggregate of the exploration and development costs incurred in the most recent financial year and the change during that year in estimated future development costs generally will not reflect total finding and development costs related to reserves additions for that year.

Conversion

The term "boe" may be misleading, particularly if used in isolation. A boe conversion ratio of six thousand cubic feet of natural gas to one boe (6 mcf/bbl.) is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. All boe conversions in this report are derived from converting gas to oil in the ratio of six thousand cubic feet of gas to one barrel of oil. Given that the value ratio based on the current price of crude oil as compared to natural gas is significantly different from the energy equivalency of 6:1, utilizing a conversion on a 6:1 basis may be misleading as an indication of value.

Dividends

The payment and the amount of dividends declared in any month will be subject to the discretion of the board of directors and will depend on the board of director's assessment of Renegade's outlook for growth, capital expenditure requirements, funds from operations, potential acquisition opportunities, debt position and other conditions that the board of directors may consider relevant at such future time. The amount of future cash dividends, if any, may also vary depending on a variety of factors, including fluctuations in commodity prices and differentials, production levels, capital expenditure requirements, debt service requirements, operating costs, royalty burdens and foreign exchange rates.

Neither the 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.



Contacts:
Renegade Petroleum Ltd.
Michael Erickson
President & CEO
(403) 355-8922

Renegade Petroleum Ltd.
Alex Wylie
Vice-President, Finance & CFO
(403) 410-3376



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