CEX Contact Exploration Inc.

Contact Exploration Inc. ("Contact" or the "Company") (TSX VENTURE:CEX) is
pleased to announce that its 23.75% non-operated 14-2-63-6 W6M Kakwa Montney
well (the "14-2 Well") has been successfully completed within the upper interval
of the Montney Formation.  This interval had not previously been tested by
Contact; however, other operators have demonstrated repeated success in this
interval within the Kakwa/Resthaven trend. The 14-2 Well has been flow-tested by
the operator for a total of 191 hours, including the final 98 hours with tubing
in hole. During the first 24 hours with tubing in hole, the 14-2 Well averaged
gross production rates consisting of 444 bbl/d condensate and 3,710 mcf/d
natural gas (105 bbl/d condensate and 882 mcf/d natural gas net) against a
flowing pressure above 4,500 kPa. During the final 74 hours with tubing in hole,
the operator varied flowing pressures between 800 kPa and up to 6,800 kPa to
test the 14-2 Well under various flowing conditions resulting in total average
production during the final 98 hours of 327 bbl/d condensate and 2,800 mcf/d
natural gas (77 bbl/d condensate and 670 mcf/d natural gas, net to Contact). In
the final hour of testing, water cut from the 14-2 Well was 75%, with an average
of 80% water being cut over the 98 hour testing interval. Approximately 2,300 m3
of frac water was used, with a total recovery of 1,900 m3 to date, which
includes both frac flow back and natural formation water. 


The results of the 14-2 Well confirm high condensate yields and strong reservoir
performance within this Montney zone. 


The operator is continuing to gather data from the 14-2 Well and has landed
bottom hole pressure recorders. Additional operational activity, including
further reservoir testing, is being considered by the operator to help define
the source of elevated water production. Options for pipeline tie-in have been
addressed by the operator with completion expected before year end.


The Company advises that production test results are not necessarily indicative
of the long term performance or of the ultimate recovery from the 14-2 Well.


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 forgoing, this press release contains
statements concerning the timing to complete testing of the 14-2 Well and the
timing for pipeline tie-in and completion of the 14-2 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; 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 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.


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

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