Bengal Energy Ltd. (TSX:BNG) ("Bengal" or the "Company") is pleased to announce
its financial and operating results for the fourth quarter and full year fiscal
2014 results (periods ended March 31, 2014).


FISCAL YEAR END & FOURTH QUARTER 2013 HIGHLIGHTS:

2014 was a successful period for Bengal, evidenced by the continued growth in
our production, reserves and revenue, as well as the achievement of several
important milestones which further advance our progress and set the stage for
future expanded development. The following are financial, operational and
corporate achievements through the three and twelve months ended March 31, 2014:


Financial Highlights:



--  Increased Production Resulted in Record Revenue - Bengal's revenue of
    approximately $5.3 million in the fourth quarter was 4% lower than the
    $5.5 million generated in the preceding quarter due to lower realized
    commodity prices, but was 75% higher than the $3.0 million generated
    during fourth quarter of 2013. For the full year 2014, Bengal generated
    revenue of approximately $19.8 million which is a 237% increase over
    fiscal 2013. The gain was driven by a 55% increase in production
    compared to the previous year, and strong pricing for the high quality
    crude oil produced. 
    
--  Funds Flow from Operations(1) Significantly Grow Year over Year - Bengal
    generated funds flow from operations of $2.2 million in the quarter
    ended March 31, 2014 a 23% decrease from the $2.9 million generated in
    the preceding quarter, due to lower netbacks and the impact of foreign
    exchange as the Australian dollar appreciated against the US dollar;
    however this reflects a 93% increase over the $1.2 million recorded in
    the fourth quarter of 2013. Full year 2014 funds flow from operations
    was $8.2 million or 645% higher than the $1.1 million generated during
    the twelve months ended March 31, 2013. 
    
--  Reserves Growth Continue - Independent third party year-end reserves
    evaluation to March 31, 2014 show a 122% year-over-year corporate 2P
    reserves increase, driven by significant increase of 2P reserves at
    Cuisinier. Based on 1P and 2P reserves additions, Bengal has replaced
    approximately 6.4 times and 13.2 times its annual production,
    respectively. 
    

 (1) Funds flow from operations is an additional generally accepted account 
     principle ("GAAP measure"). The comparable International Financial     
     Reporting Standards ("IFRS") measure is cash from operations. A        
     reconciliation of the two measures can be found in the table on page 6 
     of Bengal's Q4MD&A.                                                    

--  Net Income Demonstrates Continuing Profitability - Bengal reported net
    income of $150 thousand compared to a loss of $1.8 million in the prior
    year. Before factoring in impairments of approximately $3.1 million,
    Bengal would have generated net income of approximately $3.2 million
    (EPS $0.05/share). 



Operational Highlights:



--  Production Volumes - Production in the fourth quarter averaged 504
    barrels of oil equivalent per day ("boepd"), an increase of 8% over the
    468 boepd in the previous quarter and a 55% increase over the 325 boepd
    produced in Q4 2013. For the full year, Bengal's production averaged 468
    boepd, a significant increase of 175% over the 170 boepd produced in
    2013. 
    
--  Cuisinier Drilling 2013 - On March 20, 2013, the Company commenced its
    fiscal 2014 Cuisinier drilling program, comprised of six Murta focused
    oil wells. The program successfully aimed to optimize the overall pool
    productivity and better define the ultimate pool size. All six wells
    were drilled and extended Bengal's 100% success rate in its Cuisinier
    drilling history. 
    
--  Expanded ownership interest of Cuisinier Oil Field and the ATP 752P -
    Bengal exercised its pre-emptive right to purchase an additional
    interest in the ATP 752P permit, bringing the Company's total ownership
    to 30.357% of the Cuisiner field and 38% in the Wompi field. 
    
--  Receipt of Petroleum License - Final approval of Petroleum Lease 303
    ("PL303") for the Cuisinier oil pool was granted in April 2013, allowing
    Bengal's past and future Cuisinier wells to produce for up to 21 years. 
    
--  2014 Phase 1 Cuisinier Drilling Campaign - Commencing in March 2014,
    four development wells were drilled through May 2014 at Cuisiner with a
    100% success rate. The wells have been cased and are awaiting completion
    which is anticipated to run from mid-July through early August 2014. The
    Company expects tie-ins to be completed by the end of September 2014,
    with cash flow from the new production volumes being reflected in the
    first quarter of calendar 2015. 
    
--  Onshore India Drilling Plan - The Company continues to work with the
    operator of Bengal's onshore block in India's Cauvery Basin to finalize
    the necessary regulatory approvals for the drilling of three exploration
    wells. 



Recent Developments:



--  April 2014 Production Volumes - Production rates in Cuisinier have been
    impacted by natural declines as well as operational issues encountered
    in the field's largest producing well.  The Cuisinier 6 well has
    experienced a sudden and unusual increase in water-cut as well as an
    increase in measured well head pressure since April 2014.  Bengal, along
    with the operator are currently investigating the source of the water to
    determine a remediation strategy aimed oil production to offset this
    decline. 
    
--  Extending Financial Flexibility - Subsequent to year-end, Bengal signed
    an indicative term sheet for a US $20.0 million secured credit facility
    with a leading Australian commercial bank. Once finalized, the facility
    is expected to fully fund Bengal's Australian development through March
    2015, allowing the Company to fund future planned exploration activities
    in India and Australia with internally generated cash flows. 



OPERATING HIGHLIGHTS



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$000s except per              Three Months Ended         Twelve Months Ended
 share, volumes and                     March 31                    March 31
 netback amounts                                                            
                   ---------------------------------------------------------
                   ---------------------------------------------------------
                                                                            
                         2014      2013 % Change    2014       2013 % Change
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Revenue                                                                     
 Oil               $  5,174  $  2,946       75  $ 19,480 $  5,669       244 
 Natural gas             87        67       29       274      172        59 
 Natural gas                                                                
  liquids                11         -      N/A        68       44        55 
                                                                            
----------------------------------------------------------------------------
 Total             $  5,272  $  3,013       75  $ 19,822 $  5,885       237 
----------------------------------------------------------------------------
Royalties               407       271       50     1,334      526       154 
 % of revenue           7.7       9.0      (14)      6.7      8.9       (25)
----------------------------------------------------------------------------
Operating &                                                                 
 transportation       1,496       694      116     5,290    1,726       207 
----------------------------------------------------------------------------
Operating                                                                   
 netback(1)           3,369  $  2,048       65    13,198 $  3,633       263 
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Cash from (used in)                                                         
 operations:          2,106       119     1170     7,591     (703)      N/A 
 Per share ($)                                                              
  (basic & diluted)    0.03     (0.00)              0.12    (0.01)          
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Funds from (used                                                            
 in) operations:(2)   2,218     1,151       93     8,183    1,099       569 
 Per share ($)                                                              
  (basic & diluted)              0.02               0.13     0.02           
----------------------------------------------------------------------------
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Net (loss):          (1,804)     (592)    (205)      150   (1,799)      N/A 
 Per share ($)                                                              
  (basic & diluted)   (0.03)    (0.01)               .00    (0.03)          
----------------------------------------------------------------------------
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Capital                                                                     
 expenditures         2,048  $  1,280       60  $ 16,647 $ 28,381       (41)
----------------------------------------------------------------------------
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Volumes                                                                     
 Oil (bpd)              472       287       65       433      138       214 
 Natural gas (mcfd)     180       229      (21)      201      180        12 
 Natural gas                                                                
  liquids (boepd)         2         -      N/A         2        2         - 
----------------------------------------------------------------------------
 Total (boepd @                                                             
  6:1)                  504       325       55       468      170       175 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Netback(1) ($/boe)                                                          
 Revenue             116.24  $ 102.88       13  $ 115.94 $  94.95        22 
 Royalties             8.97      9.25       (3)     7.80     8.49        (8)
 Operating &                                                                
  transportation      32.99     23.70       39     30.94    27.85        11 
----------------------------------------------------------------------------
 Total                74.28  $  69.93        6  $  77.20 $  58.61        32 
----------------------------------------------------------------------------
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(1) Netback is a non-IFRS measure. Netback per boe is calculated by dividing
    the revenue and costs in total for the Company by the total production  
    of the Company measured in boe.                                         
(2) Funds from operations is a non-IFRS measure. The comparable IFRS measure
    is cash from operations. A reconciliation of the two measures can be    
    found in the table on page 6 of Bengal's Q4 2014 MD&A.                  



Bengal has filed its consolidated financial statements and management's
discussion and analysis for the fourth fiscal quarter of 2014 and year ended
March 31, 2014 with Canadian securities regulators. The documents are available
on SEDAR at www.sedar.com or by visiting Bengal's website at
www.bengalenergy.ca.


About Bengal

Bengal Energy Ltd. is an international junior oil and gas exploration and
production company with assets in Australia and India. The Company is committed
to growing shareholder value through international exploration, production and
acquisitions. Bengal's common shares trade on the TSX under the symbol "BNG".


Additional information is available at www.bengalenergy.ca

Forward-Looking Statements

This news release contains certain forward-looking statements or information
("forward-looking statements") as defined by applicable securities laws that
involve substantial known and unknown risks and uncertainties, many of which are
beyond Bengal's control. These statements relate to future events or our future
performance. All statements other than statements of historical fact may be
forward-looking statements. The use of any of the words "plan", "expect",
"prospective", "project", "intend", "believe", "should", "anticipate",
"estimate", or other similar words or statements that certain events "may" or
"will" occur are intended to identify forward-looking statements. The
projections, estimates and beliefs contained in such forward-looking statements
are based on management's estimates, opinions, and assumptions at the time the
statements were made, including assumptions relating to: the impact of economic
conditions in North America, Australia, India and globally; industry conditions;
changes in laws and regulations including, without limitation, the adoption of
new environmental laws and regulations and changes in how they are interpreted
and enforced; increased competition; the availability of qualified operating or
management personnel; fluctuations in commodity prices, foreign exchange or
interest rates; stock market volatility and fluctuations in market valuations of
companies with respect to announced transactions and the final valuations
thereof; results of exploration and testing activities; and the ability to
obtain required approvals and extensions from regulatory authorities. We believe
the expectations reflected in those forward-looking statements are reasonable
but, no assurances can be given that any of the events anticipated by the
forward-looking statements will transpire or occur, or if any of them do so,
what benefits that Bengal will derive from them. As such, undue reliance should
not be placed on forward-looking statements. Forward-looking statements
contained herein include, but are not limited to, statements regarding: the
Tookoonooka joint venture, including without limitation, the timing of
processing and interpreting seismic data and timing for the selection and
drilling of a second

well; receipt of regulatory approvals for the drilling of exploration wells in
Cauvery Basin, India; and the timing for drilling of the first well in the
Cauvery Basin, India. The forward-looking statements contained herein are
subject to numerous known and unknown risks and uncertainties that may cause
Bengal's actual financial results, performance or achievement in future periods
to differ materially from those expressed in, or implied by, these
forward-looking statements, including but not limited to, risks associated with:
the failure to obtain required regulatory approvals or extensions; failure to
satisfy the conditions under farm-in and joint venture agreements; failure to
secure required equipment and personnel; changes in general global economic
conditions including, without limitations, the economic conditions in North
America, Australia, India; increased competition; the availability of qualified
operating or management personnel; fluctuations in commodity prices, foreign
exchange or interest rates; changes in laws and regulations including, without
limitation, the adoption of new environmental and tax laws and regulations and
changes in how they are interpreted and enforced; the results of exploration and
development drilling and related activities; the ability to access sufficient
capital from internal and external sources; and stock market volatility. Readers
are encouraged to review the material risks discussed in Bengal's Annual
Information Form for the year ended March 31, 2013 under the heading "Risk
Factors" and in Bengal's annual MD&A under the heading "Risk Factors". The
Company cautions that the foregoing list of assumptions, risks and uncertainties
is not exhaustive. The forward-looking statements contained in this news release
speak only as of the date hereof and Bengal does not assume any obligation to
publicly update or revise them to reflect new events or circumstances, except as
may be require pursuant to applicable securities laws.


Barrels of Oil Equivalent

When converting natural gas to equivalent barrels of oil, Bengal uses the widely
recognized standard of 6 thousand cubic feet (mcf) to one barrel of oil (boe).
However, a boe may be misleading, particularly if used in isolation. A boe
conversion ratio of 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.




Certain Defined Terms                                                       
boe -barrels of oil equivalent                                              
bopd -barrels of oil equivalent per day                                     
bbl -barrel                                                                 
bbl/d -barrels per day                                                      
mcf -thousand cubic feet                                                    
mcf/d -thousand cubic feet per day                                          



Non-IFRS Measurements

Within this release references are made to terms commonly used in the oil and
gas industry. Funds from operations, funds from operations per share and
netbacks do not have any standardized meaning under IFRS and previous GAAP and
are referred to as non-IFRS measures. Funds from operations per share is
calculated based on the weighted average number of common shares outstanding
consistent with the calculation of net income (loss) per share. Netbacks equal
total revenue less royalties and operating and transportation expenses
calculated on a boe basis. Management utilizes these measures to analyze
operating performance. The Company's calculation of the non-IFRS measures
included herein may differ from the calculation of similar measures by other
issuers. Therefore, the Company's non-IFRS measures may not be comparable to
other similar measures used by other issuers. Funds from operations is not
intended to represent operating profit for the period nor should it be viewed as
an alternative to operating profit, net income, cash flow from operations or
other measures of financial performance calculated in accordance with IFRS.
Non-IFRS measures should only be used in conjunction with the Company's annual
audited and interim financial statements. A reconciliation of these measures can
be found in the table on page 6of Bengal's Q4 MD&A.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Bengal Energy Ltd.
Chayan Chakrabarty
President & Chief Executive Officer
(403) 205-2526


Bengal Energy Ltd.
Jerrad Blanchard
Chief Financial Officer
(403) 205-2526
investor.relations@bengalenergy.ca
www.bengalenergy.ca

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