SHY Sharon Enery Ltd

Tuscany Energy Ltd. ("Tuscany") (TSX VENTURE:TUS) and Sharon Energy Ltd.
("Sharon") (TSX VENTURE:SHY) jointly announce that they have received final
approval of the plan of arrangement by the Court of Queen's Bench of Alberta and
the previously announced plan of arrangement involving Tuscany and Sharon (the
"Arrangement") closed on June 2, 2011. Pursuant to the Arrangement, Tuscany
acquired all of the issued and outstanding common shares of Sharon on the basis
of 0.84 of a common share of Tuscany for each one (1) common share of Sharon.


Following completion of the Transaction, Tuscany has approximately 124.9 million
common shares outstanding. The combined entity has total proved plus probable
reserves of approximately 1,345,000 barrels of oil equivalent ("BOE") and
current estimated production of 190 BOE per day. The combined entity has working
capital of approximately $4.0 million, marketable securities of $3.9 million and
an unused bank line of $4.6 million.


Letters of Transmittal have been forwarded to shareholders of Sharon to be
utilized in order to exchange their common shares of Sharon for common shares of
Tuscany. Additional copies of same may be obtained by contacting Tuscany or
Computershare Investor Services Inc. The trading of the common shares of Sharon
was halted on the TSX Venture Exchange ("TSXV") after the close of trading on
June 2, 2011 and trading of the common shares of Sharon will be delisted from
the TSXV.


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 concerning the delisting of the common shares of Sharon. Tuscany and
Sharon have made these forward-looking statements in reliance on certain
assumptions that they believe are reasonable at this time. 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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