COQ Rooster Energy Ltd

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A
VIOLATION OF U.S. SECURITIES LAW. 


Rooster Energy Ltd. ("Rooster" or the "Company") (TSX VENTURE:COQ) - Rooster
announced today that it has entered into a secured Credit Facility which
provides for borrowing up to $15 Million, to be used for general corporate
purposes. The initial advance under the Credit Facility is $8 Million less a 2%
original issue discount.


The Credit Facility is a bridge loan until the Company secures a conventional
revolving and/or term loan facility. The Company is currently in negotiations
with other potential lenders for a conventional facility. The interest rate on
all advances under the Credit Facility is 8% per annum and the term is for 60
days from the initial advance which term may be extended by the Lenders with
payment by the Company thereafter on demand with a 2% penalty due on the
outstanding balance on the maturity date. All of subsidiaries of Rooster are
guarantors of any indebtedness owed under the Credit Facility.


The K2 Principal Fund L.P. serves as "Administrative Agent" under the Credit
Facility. Participating lenders in the Credit Facility, in addition to K2, are
Chester F. Morrison, Jr. and Cretaceous LLC, who are each a related party to
Rooster. Additionally, none of the participants is a chartered bank, trust
company or treasury bank.


OPERATIONS UPDATE:

As previously announced in June, 2012, Rooster resumed oil and gas production
from its Vermilion Block 376 Field located in U.S. federal waters located
offshore the State of Louisiana, following the successful drilling and
completion of three new wells. The three new wells and the previously existing
wells in the Field are performing as expected. Rooster's total net daily
production for the last 30 days has averaged in excess of 3,300 barrels oil
equivalent per day since the re-commencement of production from Vermilion Block
376 Field.


United States Securities Matters

This press release does not constitute an offer to sell or a solicitation of an
offer to buy any securities in the United States. The securities of Rooster have
not been and will not be registered under the United States Securities Act of
1933, as amended (the "US Securities Act") or any state securities laws and may
not be offered or sold within the United States or to U.S. persons unless
registered under the U.S. Securities Act and applicable state securities laws or
an exemption from such registration is available.

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