CEX Contact Exploration Inc.

Contact Exploration Inc. ("Contact" or the "Company") (TSX VENTURE:CEX) is
pleased to announce that Pieridae Energy (Canada) Ltd. ("Pieridae") has entered
into a long-term sales agreement with E.ON Global Commodities SE ("E.ON"), a
subsidiary of E.ON SE, and one of the world's largest investor-owned power and
gas companies, for the purchase of liquefied natural gas ("LNG") from the
Goldboro LNG project being developed by Pieridae in Nova Scotia, Canada. Under
the agreement, Pieridae is to deliver approximately 5 million tons per annum
("MTPA") of LNG to E.ON for 20 years into a number of locations in Western
Europe. 


As described in Contact's press release of March 4, 2013, Contact and Pieridae
are the partners in Pieridae Production Limited Partnership, a natural
gas-focused exploration and production entity formed to source, develop and
produce natural gas to serve as significant portion of the feedstock for the
Goldboro LNG project.


The sales agreement was signed by Alfred Sorensen, President and CEO of Pieridae
and Gareth Griffiths, Chief Commercial Officer, Merchant Trading of E.ON, at a
signing ceremony at the Canadian Embassy in Berlin.


Alfred Sorensen, President and CEO of Pieridae remarked that the sales agreement
represents one of the major milestones for Goldboro LNG, noting that the
agreement with E.ON provides the economic security needed to complete the
development of the first process train of the Goldboro LNG terminal. Pieridae
noted that the LNG pricing in the sales agreement is based on market prices of
natural gas in the Western European market.


In collaboration with Contact, Pieridae is having advanced discussions with
North American natural gas exploration and production and pipeline companies,
for the purpose of providing natural gas feedstock and transportation services
for the Goldboro facility.


Upon completion, the Goldboro LNG terminal will have the ability to export up to
10 MTPA of natural gas, year round, with on-site storage capacity of 690,000
cubic metres of LNG. Upon commencement of commercial operations, expected by the
first quarter of 2020, natural gas will be transported to Goldboro, Nova Scotia,
primarily using existing pipeline systems and exported by ship to international
markets. 


"This milestone represents an enormous opportunity for Contact, in our role as
the operator of the upstream partnership responsible for securing onshore
natural gas reserves and production that will supply the Goldboro facility,"
remarked Steve Harding, President and CEO of Contact.


Pieridae is currently conducting the environmental assessment ("EA") for the
Goldboro LNG project. Pieridae expects to submit the EA report to the Province
of Nova Scotia in 2013, with approval of the EA being the next major milestone
towards the final investment decision for the project, expected in 2015.


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


About Pieridae

Pieridae Energy is an energy infrastructure development company focused on
liquefied natural gas (LNG) opportunities. Founded in 2011, Pieridae plans to
develop a fully integrated LNG infrastructure business. Pieridae is currently
developing Goldboro LNG, a proposed export LNG terminal located in Goldboro,
Nova Scotia, Canada.


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", "anticipate", "continue",
"estimate", "may", "will", "project", "should", "believe", "plans", "intends"
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 volumes of deliveries of LNG to E.ON by
Pieridae in the future under the sales agreement, the capacity of the Goldboro
LNG terminal to export LNG upon completion of the terminal, methods of
transportation of natural gas and LNG to the terminal and international markets
in the future, the timing for Pieridae to complete and submit the EA to the
Province of Nova Scotia and the possible approval of such EA . 


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 that: (i) Contact's New Brunswick natural gas assets will be
developed as a result of the completion of the Goldboro LNG terminal; or (ii)
the Goldboro LNG Facility will be completed or, if completed, will have the
processing capacity, or will result in the economic benefits to Contact or
otherwise, discussed herein. 


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, in particular regulatory matters related to
the development of the Goldboro LNG Facility; 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, 2012. 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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