SHY Sharon Enery Ltd

Tuscany Energy Ltd. ("Tuscany") (TSX VENTURE:TUS) and Sharon Energy Ltd.
("Sharon") (TSX VENTURE:SHY) are pleased to jointly announce that they have
entered into a definitive arrangement agreement in respect of the business
combination (the "Transaction") previously announced on March 28, 2011. Pursuant
to the Transaction, Tuscany will acquire, subject to certain conditions, all of
Sharon's issued and outstanding common shares on the basis of 0.84 of a common
share of Tuscany for each one (1) Sharon common share.


Closing of the Transaction is expected to occur as soon as practicable following
the shareholder meetings of Tuscany and Sharon which are scheduled for May 31,
2011, subject to satisfaction of certain conditions including standard stock
exchange, court and regulatory approvals and the requisite two-thirds majority
approval of Sharon's shareholders and majority of minority approval of both
Tuscany's and Sharon's shareholders.


Board Recommendations

The Board of Directors of both Tuscany and Sharon each established a Special
Committee comprised of independent directors with a mandate, among other things,
to consider the Transaction and to make a recommendation to the respective Board
of Directors in respect thereof. The Special Committee of the Board of Directors
of each of Tuscany and Sharon recommended that the respective Boards of
Directors approve the Transaction. Based on the recommendation of their
respective Special Committee, the Board of Directors of each of Tuscany and
Sharon unanimously approved the Transaction and have concluded that the
Transaction is in the best interest of its shareholders and company and have
unanimously resolved to recommend that its shareholders vote their shares in
favour of the Transaction.


Emerging Equities Inc. ("EEI") was engaged to act as Sharon's exclusive
financial advisor with respect to the Transaction. EEI has advised the Board of
Directors of Sharon that, in its opinion, subject to review of final
documentation, the consideration to be received by Sharon shareholders pursuant
to the Transaction is fair, from a financial point of view, to Sharon
shareholders.


READER ADVISORIES

Barrels of oil equivalent ("BOE") may be misleading, particularly if used in
isolation. A BOE conversion ratio has been calculated using a conversion rate of
six thousand cubic feet of natural gas to one barrel and is based on an energy
equivalent conversion method applicable at the burner tip and does not represent
an economic value equivalency at the wellhead.


This press release contains forward-looking statements and forward-looking
information within the meaning of applicable securities laws. The use of any of
the words "expect", "anticipate", "continue", "estimate", "objective",
"ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and
similar expressions are intended to identify forward- looking information or
statements. More particularly this press release contains forward-looking
statements and information concerning the anticipated completion of the proposed
Transaction, the timing thereof. Tuscany and Sharon have made these
forward-looking statements in reliance on certain assumptions that they believe
are reasonable at this time, including assumptions as to the timing of receipt
of the necessary regulatory and court approvals and the time necessary to
satisfy the conditions to the closing of the Transaction. Timing of completion
of the Transaction may change for a number of reasons, including unforeseen
delays in preparing meeting materials, inability to secure necessary regulatory
or court approvals in the time assumed or the need for additional time to
satisfy the conditions to the completion of the Transaction. Accordingly,
readers should not place undue reliance on the forward-looking statements and
information contained in this press release. Readers are cautioned that the
foregoing list of factors is not exhaustive. The forward-looking statements and
information contained in this press release are made as of the date hereof and
Tuscany and Sharon undertake 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.

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