TVL Traverse Energy Ltd

Traverse Energy Ltd. (the "Corporation") (TSX VENTURE:TVL) is pleased to
announce that it has successfully closed a first tranche of its previously
announced non-brokered private placement (the "Private Placement") of common
shares of the Corporation ("Shares") issued on a "flow through" basis eligible
for the renunciation of Canadian development expenses within the meaning of the
Income Tax Act (Canada). The Corporation issued 2,391,250 Shares for gross
proceeds of $2,008,650.


The Shares issued are subject to a hold period under applicable securities laws
until April 10, 2014.


The Corporation intends to use the proceeds from the Private Placement to fund a
portion of its exploration and drilling activities in the province of Alberta.


About the Corporation

The Corporation is a junior oil and natural gas exploration and production
company in Alberta. The Shares of the Corporation currently are listed on the
TSX Venture Exchange under the trading symbol "TVL". There are currently
51,899,161 Shares issued and outstanding.


Forward-Looking Information

This news release contains forward-looking information which is not comprised of
historical facts. Forward-looking information involves risks, uncertainties and
other factors that could cause actual events, results, performance, prospects
and opportunities to differ materially from those expressed or implied by such
forward-looking information. Forward-looking information in this news release
includes statements with respect to the use of proceeds from the Private
Placement. Material assumptions and factors that could cause actual results to
differ materially from such forward-looking information include the failure to
obtain final approval from the TSX Venture Exchange. Although the Corporation
believes that the material assumptions and factors used in preparing the
forward-looking information in this news release are reasonable, undue reliance
should not be placed on such information, which only applies as of the date of
this news release, and no assurance can be given that such events will occur.
The Corporation disclaims any intention or obligation to update or revise any
forward-looking information, whether as a result of new information, future
events or otherwise, other than as required by law.


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accept
responsibility for the adequacy or accuracy of the content of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Traverse Energy Ltd.
Laurie Smith
President and Chief Executive Officer
(403) 264-9223
(403) 264-9558 (FAX)
www.traverseenergy.com

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