OEL

NOT FOR DISSEMINATION IN THE UNITED STATES. FAILURE TO COMPLY WITH THIS
RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAW. 


Octant Energy Corp. ("Octant" or the "Corporation") (TSX VENTURE:OEL) has been
advised by the TSX Venture Exchange that its common shares will commence trading
on July 9, 2012 under the new symbol of OEL and new name of Octant Energy Corp. 


Madagascar Operations Update 

The Corporation has been working diligently with Ophir Energy in preparation for
drilling activities in Madagascar Block 2102 including a tender process for
drilling contracts and related support services. At this time and after
consultation with partners, it is anticipated that drilling of Madagascar Block
2102 will commence in Q2 of 2013. Site preparation work continues in Madagascar
and the executive team at Octant is excited about drilling a near term well in
Madagascar. Ophir and Octant anticipate entering into a new arrangement that
involves Octant entering into a 'Drilling Services Agreement' and provides
Octant with the non-exclusive option to farm into Block 2102. 


Financing Update 

As a result of current market conditions the Corporation has decided not to
continue with its previously announced equity financing.  


About The Corporation 

The Corporation is a public oil and gas company engaged in the acquisition,
exploration and development of petroleum and natural gas assets in Africa and
North America. 


Cautionary Note

Statements in this press release contain forward-looking information within the
meaning of applicable securities law. Forward-looking information is frequently
characterized by words such as "plan", "expect", "project", "intend", "believe",
"anticipate", "estimate" and other similar words, or statements that certain
events or conditions "may" or "will" occur. In particular, forward-looking
information in this press release includes, without limitation, statements with
respect to receipt of all necessary regulatory and third party approvals, the
listing of the Common Shares, the resumption of the Corporation. Readers are
cautioned that assumptions used in the preparation of forward-looking
information may prove to be incorrect. Although we believe that the expectations
reflected in the forward-looking information are reasonable, there can be no
assurance that such expectations will prove to be correct. We cannot guarantee
future results, level of activity, performance or achievements. Consequently,
there is no representation that the actual results achieved will be the same, in
whole or in part, as those set out in the forward-looking information. 


Forward-looking information is based on the opinions and estimates of management
at the date the statements are made, and are subject to a variety of risks and
uncertainties and other factors (many of which are beyond the control of the
Corporation) that could cause actual events or results to differ materially from
those anticipated in the forward-looking information. The forward-looking
information contained in this news release is expressly qualified by this
cautionary statement. The Corporation does not undertake any obligation to
update or revise any forward-looking statements to conform such information to
actual results or to changes in our expectations except as otherwise required by
applicable securities legislation. Readers are cautioned not to place undue
reliance on forward-looking information.

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