CEX Contact Exploration Inc.

Contact Exploration Inc. ("Contact" or the "Company") (TSX VENTURE:CEX) is
pleased to announce that the seventh Contact-operated horizontal Montney well at
02/14- 30 -63-5 W6 (the "02/14-30 Well") (Contact 25% working interest) drilled
in the Upper Montney D4 interval has been successfully completed and tested. The
well was drilled to a total measured depth of 4,563 metres, with a horizontal
leg of 1,068 metres, approximately 200-500 metres shorter than Contact's other
Kakwa wells and the shortest of the Company's Kakwa horizontal wells drilled to
date. The well was completed using a water-based nitrogen foam frac and then
tested for approximately 119 hours, flowing up 4.5 inch casing. During the final
24 hours of flow-back the well continued to clean up frac fluid and produced
against anticipated gathering system pressure of approximately 1,800 kPa and
averaged gross production rates of 1,076 boe/d consisting of 621 bbl/d
condensate and 2,734 mscf/d natural gas (155 bbl/d and 684 mscf/d, or 269 boe/d
combined, net to Contact).


The 02/14-30 Well is Contact's first operated well in the uppermost Montney D4
interval. Contact is encouraged by the strong test rates and high ratio of
condensate to natural gas production from this interval and the potential for
additional development of this interval across its entire East Kakwa land
position. Production results from the Upper Montney D4 interval in the 02/14-30
Well have been announced based on the initial production test period given the
significance to the Company of having achieved Kakwa development success in an
additional Montney interval. As previously announced, Contact expects to release
further development drilling production results at Kakwa based on 30 day initial
production rates.


The Company advises that although the initial rates from the 02/14-30 Well are
very encouraging, production test results are not necessarily indicative of
long-term performance or of ultimate recovery from the 02/14-30 Well. 


Final well equipping and onsite facilities work will begin immediately to
provide for tie-in of production from the 02/14-30 Well into Company-operated
infrastructure. Contact anticipates that the 02/14-30 well should be ready for
production in early May 2014.  


About Contact Exploration Inc.

Contact Exploration Inc. is a public oil and gas company which has a long-term
history of operating in Atlantic Canada and has recently demonstrated success in
Alberta's liquids-rich Montney Formation tight gas play. For more information,
please see the Company's website: www.contactexp.com


ADVISORY ON USE OF "BOEs": "BOEs" may be misleading, particularly if used in
isolation. A BOE conversion ratio of six thousand cubic feet of natural gas to
one barrel of oil equivalent (6 mcf: 1 bbl) is based on an energy equivalency
conversion method primarily applicable at the burner tip and does not represent
a value equivalency at the wellhead. Given that the value ratio based on the
current price of crude oil as compared to natural gas is significantly different
from the energy equivalency of 6:1, utilizing a conversion on a 6:1 basis may be
misleading as an indication of value.


ADVISORY ON FORWARD-LOOKING STATEMENTS: This press release contains certain
forward-looking information and statements within the meaning of applicable
securities laws. The use of any of the words "expect", "continue", "estimate",
"may", "will", "should", "believe", "plans", "cautions" and similar expressions
are intended to identify forward-looking information or statements. In
particular, but without limiting the foregoing, this press release contains
statements concerning the Company announcing the timing for the tie-in of the
02/14-30 Well among others. 


Forward-looking statements or information are based on a number of material
factors, expectations or assumptions of Contact which have been used to develop
such statements and information but which may prove to be incorrect. Although
Contact believes that the expectations reflected in these forward-looking
statements are reasonable, undue reliance should not be placed on them because
Contact can give no assurance that they will prove to be correct. Since
forward-looking statements address future events and conditions, by their very
nature they involve inherent risks and uncertainties. In particular, in addition
to other factors and assumptions which may be identified herein, no assurances
can be given respecting: whether the Company's exploration and development
activities respecting the Deep Basin Montney project will be successful or that
material volumes of petroleum and natural gas reserves will be encountered, or
if encountered can be produced on a commercial basis; that the results of the 24
hour production test will be indicative of the long-term performance of the
02/14-30 Well or of ultimate recovery from the well; the ultimate size and scope
of any hydrocarbon bearing formations at the Deep Basin Montney project; that
additional drilling operations in the Deep Basin Montney project, including at
the 02/14-30 Well, will be successful such that further development activities
in this area is warranted; that Contact's efforts to raise additional capital
will be successful;; that Contact will continue to conduct its operations in a
manner consistent with past operations; results from drilling and development
activities will be consistent with past operations; the accuracy of the
estimates of Contact's reserve volumes; the general stability of the economic
and political environment in which Contact operates; drilling results; field
production rates and decline rates; the general continuance of current industry
conditions; the timing and cost of pipeline, storage and facility construction
and expansion and the ability of Contact to secure adequate product
transportation; future commodity prices; currency, exchange and interest rates;
regulatory framework regarding royalties, taxes and environmental matters in the
jurisdictions in which Contact operates; and the ability of Contact to
successfully market its oil and natural gas products. 


Further, events or circumstances may cause actual results to differ materially
from those predicted as a result of numerous known and unknown risks,
uncertainties, and other factors, many of which are beyond the control of the
Company, including, without limitation: changes in commodity prices; changes in
the demand for or supply of the Company's products; unanticipated operating
results or production declines; changes in tax or environmental laws, royalty
rates or other regulatory matters; changes in development plans of Contact or by
third party operators of Contact's properties, increased debt levels or debt
service requirements; inaccurate estimation of Contact's oil and gas reserve and
resource volumes; limited, unfavourable or a lack of access to capital markets;
increased costs; a lack of adequate insurance coverage; the impact of
competitors; and certain other risks detailed from time-to-time in Contact's
public disclosure documents. Additional information regarding some of these risk
factors may be found under "Risk Factors" in the Company's Management Discussion
and Analysis prepared for the year ended March 31, 2013. The reader is cautioned
not to place undue reliance on this forward-looking information. The
forward-looking statements contained in this press release are made as of the
date hereof and Contact undertakes no obligations 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.


Neither 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 release.



FOR FURTHER INFORMATION PLEASE CONTACT: 
Steve Harding
President and CEO
Contact Exploration Inc.
Phone: (403) 771-1091
(403) 695-3915 (FAX)
Email: sharding@contactexp.com
www.contactexp.com

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