CR Crew Energy Inc

Crew Energy Inc. ("Crew" or the "Company") (TSX:CR) of Calgary, Alberta is
pleased to announce that it has closed the previously announced asset
transactions resulting in the further strategic consolidation of Montney lands
within the Septimus/Groundbirch corridor proximal to Company infrastructure. The
transactions had an effective date of December 1, 2012 and resulted in net
proceeds to the Company of $86 million before closing adjustments. The net
proceeds were used to reduce bank indebtedness.


The closing of these transactions builds upon Crew's strategy of continuing to
consolidate a significant resource base in northeast British Columbia at a
reasonable cost and maintaining the Company's liquids growth objectives. Crew's
northeast British Columbia Montney ownership now exceeds 150,000 net acres and
the Company has an exclusive option to purchase an additional 140 sections
(91,000 net acres) of land principally located in the Altares and Attachie
liquids rich areas of the Montney play.


Crew is an oil and gas exploration and production company whose shares are
traded on the Toronto Stock Exchange under the trading symbol "CR". 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Crew Energy Inc.
Dale Shwed
President and C.E.O.
(403) 231-8850
dale.shwed@crewenergy.com


Crew Energy Inc.
John Leach
Senior Vice President and C.F.O.
(403) 231-8859
john.leach@crewenergy.com


Crew Energy Inc.
Rob Morgan
Senior Vice President and C.O.O.
(403) 513-9628
rob.morgan@crewenergy.com
www.crewenergy.com

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