BWN

Brownstone Energy Inc. (TSX VENTURE:BWN)(OTCQX:BWSOF) ("Brownstone" or the
"Company") has been informed by the operator of Llanos 21 block in the Llanos
basin in Colombia, Omega Energy Colombia, that it has commenced drilling the
Calacho No. 1 well. The Calacho well is the first well of a planned two well
drilling program on the block. The planned second well in the program is the
Rocamao No. 1 well.


The Calacho well is being drilled to a planned total depth of 7,000 feet, and
drilling is expected to take approximately 30 days. The Calacho well is
programmed to test the hydrocarbon potential of the C7 and Une formations. The
gross budget for drilling and testing of the well is approximately $4.5-million
(U.S.). The Rocamao well is planned to be drilled to a total depth of 6,900 feet
and drilling is expected to take approximately 30 days. The Rocamao well is also
programmed to test the hydrocarbon potential of the C7 and Une formations. The
gross budget for drilling and testing the Rocamao well is approximately
$5.1-million (U.S.).


Under the terms of the original farm-in agreement, Brownstone was to pay 50% of
two wells in exchange for an income production participation of 35%. Under a new
arrangement agreed to in the spring of 2012, Brownstone's remaining obligations
require it to pay $1,875,000 toward the two wells, following which it will no
longer have any rights or interests in respect of the block, subject to an
option exercisable by Brownstone following the completion of either the first or
second well to acquire a 24.75% income production participation in the block by
reimbursing Omega Energy Colombia for 50% of its costs in the first well or both
wells, as applicable.


About Brownstone 

Brownstone Energy Inc. is a Canadian-based, energy focused company with direct
interests in oil and gas exploration projects, including varying interests in
three off-shore Israel concessions and in four Colombian blocks in the Llanos
basin, as well as other oil and gas interests worldwide. By owning and managing
a diversified portfolio of energy-based projects, Brownstone provides
shareholders with a unique energy alternative. For additional information,
please see Brownstone's website: www.brownstoneenergy.com.


Cautionary Statements

This news release contains forward-looking information and forward-looking
statements within the meaning of applicable securities laws (together,
"forward-looking information"). The use of any of the words "expect",
"anticipate", "continue", "estimate", "believe", "plans", "intends",
"confident", "may", "objective", "ongoing", "will", "should", "project",
"should" and similar expressions are intended to identify forward-looking
information. 


The forward-looking information is based on certain key expectations and
assumptions made by the Company, including expectations and assumptions
concerning the operational results in Colombia. Although the Company believes
that the expectations and assumptions on which the forward-looking information
are based are reasonable, undue reliance should not be placed on the
forward-looking information because the Company can give no assurance that they
will prove to be correct.


Since forward-looking information addresses future events and conditions, by its
very nature it involves 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, the inherent risks involved in
the exploration and development of oil and gas properties, the uncertainties
involved in interpreting drilling results and other geological data,
uncertainties relating to fluctuating oil and gas prices, the possibility of
cost overruns or unanticipated costs and expenses and other factors including
unforeseen delays. Anticipated exploration and development plans relating to the
Company's properties are subject to change. 


The foregoing list of assumptions, risks and uncertainties is not exhaustive.
The forward-looking information contained in this press release is made as of
the date hereof and Brownstone undertakes no obligation to update publicly or
revise any forward-looking statements or information, whether as a result of new
information, future events or otherwise, unless so required by applicable
securities laws.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Brownstone Energy Inc.
Jonathan Schroeder, P. Geoph.
President and COO
(403) 660-2894
schroeder@brownstoneenergy.com


Brownstone Energy Inc.
Gerry Feldman
CFO
(416) 941-8900
Feldman@brownstoneenergy.com


Brownstone Energy Inc.
Richard Patricio
Vice-President Corporate and Legal Affairs
(416) 941-8900
info@brownstoneenergy.com
www.brownstoneenergy.com

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