BOE

Spartan Energy Corp. ("Spartan" or the "Company") (TSX VENTURE:SPE) is pleased
to announce the completion of its previously announced strategic southeast
Saskatchewan light oil acquisition, an additional asset acquisition in the
Midale play in southeast Saskatchewan and the listing of its common shares on
the Toronto Stock Exchange ("TSX"). 


Completion of Previously Announced Strategic Asset Acquisition 

Spartan has completed the previously announced asset acquisition for gross
consideration of $98 million. The assets acquired consolidate our existing core
area in southeast Saskatchewan and consist of operated, low decline crude oil
production with the following characteristics:




--  Approximately 1,000 boe/d (96% oil and liquids); 
--  Annual decline of approximately 18% with immediate free cash flow
    generation; 
--  Netbacks in excess of $52 per boe (based on current realized pricing); 
--  Proved plus probable reserves of approximately 3.95 million boe (96% oil
    and liquids) as assigned by Sproule and Associates Ltd., effective
    December 31, 2013; 
--  Ownership of key producing infrastructure including batteries, pipelines
    and waterflood facilities; 
--  Thirty-one net sections of undeveloped land; and 
--  Twenty-nine net low risk development drilling locations, including
    locations in Queensdale, Wordsworth and Crystal Hills.



Midale Asset Acquisition 

Spartan has also completed the acquisition of assets in southeast Saskatchewan
for a purchase price of $17,250,000. The assets consist of approximately 150
boe/d of low decline oil-weighted production and approximately 20 net sections
of land prospective for the drilling of fracture stimulated horizontal wells in
the Midale formation. Spartan will also acquire key producing infrastructure and
proprietary ownership of 3D seismic covering the acquired lands . The
acquisition solidifies Spartan's position in the Midale play, and the Company
has identified approximately 39 potential fracture stimulated horizontal
drilling locations on the lands. 


Toronto Stock Exchange Listing 

Spartan is pleased to announce that it has satisfied all conditions to the
listing of its common shares on the TSX. The Company's common shares are
anticipated to commence trading on the TSX at the opening of the markets on July
9, 2014 under the symbol "SPE".


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 news release. 


READER ADVISORY 

BOE Disclosure. The term barrels of oil equivalent ("BOE") may be misleading,
particularly if used in isolation. A BOE conversion ratio of six thousand cubic
feet per barrel (6Mcf/bbl) of natural gas to barrels of oil equivalence 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 the report are derived from converting gas to oil in the ratio
mix of six thousand cubic feet of gas to one barrel of oil.


Forward-Looking Statements. Certain information included in this press release
constitutes forward-looking information under applicable securities legislation.
Statements relating to "reserves" are deemed to be forward-looking statements,
as they involve the implied assessment, based on certain estimates and
assumptions, that the reserves described exist in the quantities predicted or
estimated and that the reserves can be profitably produced in the future. All
statements other than statements of historical fact may be forward-looking
statements. Forward-looking statements typically contains statements with words
such as "anticipate", "believe", "expect", "plan", "intend", "estimate",
"propose", "project" or similar words suggesting future outcomes or statements
regarding an outlook. Forward-looking statements in this press release may
include, but is not limited to, timing for completion of the asset acquisition,
characteristics of the assets, decline rates, average production, exit
production, drilling locations, cash flow and capital expenditures. These
statements involve substantial known and unknown risks and uncertainties,
certain of which are beyond the Company's control, including: the impact of
general economic conditions; industry conditions; changes in laws and
regulations including the adoption of new environmental laws and regulations and
changes in how they are interpreted and enforced; fluctuations in commodity
prices and foreign exchange and interest rates; stock market volatility and
market valuations; volatility in market prices for oil and natural gas;
liabilities inherent in oil and natural gas operations; uncertainties associated
with estimating oil and natural gas reserves; competition for, among other
things, capital, acquisitions, of reserves, undeveloped lands and skilled
personnel; incorrect assessments of the value of acquisitions; changes in income
tax laws or changes in tax laws and incentive programs relating to the oil and
gas industry; geological, technical, drilling and processing problems and other
difficulties in producing petroleum reserves; and obtaining required approvals
of regulatory authorities. 


Forward-looking information is based on a number of factors and assumptions
which have been used to develop such information but which may prove to be
incorrect. Although Spartan believes that the expectations reflected in its
forward-looking information are reasonable, undue reliance should not be placed
on forward-looking information because Spartan can give no assurance that such
expectations will prove to be correct. In addition to other factors and
assumptions which may be identified in this press release, assumptions have been
made regarding and are implicit in, among other things, the timely receipt of
any required regulatory approvals and the satisfaction of all conditions to the
completion of the Acquisition and the Financing. Readers are cautioned that the
foregoing list is not exhaustive of all factors and assumptions which have been
used. 


Forward-looking information is based on current expectations, estimates and
projections that involve a number of risks and uncertainties which could cause
actual results to differ materially from those anticipated by Spartan and
described in the forward-looking information. The forward-looking information
contained in this press release is made as of the date hereof and Spartan
undertakes no obligation to update publicly or revise any forward-looking
information, whether as a result of new information, future events or otherwise,
unless required by applicable securities laws. The forward looking information
contained in this press release is expressly qualified by this cautionary
statement.


Non-IFRS Measures. This press release provides certain financial measures that
do not have a standardized meaning prescribed by IFRS. These non-IFRS financial
measures may not be comparable to similar measures presented by other issuers.
Cash flow from operations and operating netback are not recognized measures
under IFRS. Management believes that in addition to net income (loss), cash flow
from operations and operating netback are useful supplemental measures that
demonstrate the Company's ability to generate the cash necessary to repay debt
or fund future capital investment. Investors are cautioned, however, that these
measures should not be construed as an alternative to net income (loss)
determined in accordance with IFRS as an indication of the Company's
performance. Spartan's method of calculating these measures may differ from
other companies and accordingly, they may not be comparable to measures used by
other companies. Cash flow from operations is calculated by adjusting net income
(loss) for other income, unrealized gains or losses on financial derivative
instruments, accretion, share based compensation, impairment and depletion and
depreciation. Operating netback is calculated based on oil and gas revenue less
royalties and operating and transportation expenses. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Spartan Energy Corp.
Richard (Rick) McHardy
President and Chief Executive Officer


Spartan Energy Corp.
Tim Sweeney
Manager, Business Development


Spartan Energy Corp.
Suite 500, 850 - 2nd Street S.W.
Calgary, Alberta  T2P 0R8
403.355.2779 (FAX)
info@spartanenergy.ca

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