CR Crew Energy Inc

Crew Energy Inc. ("Crew" or the Company") (TSX:CR) of Calgary, Alberta is
pleased to announce that it has purchased 59 sections of Montney lands (the
"Option Lands") in Northeast British Columbia, exercising on a portion of and
amending the option it obtained in December 2012 as part of its
Septimus/Groundbirch acquisition.


The Company, on February 28th, 2013 closed the acquisition of approximately 59
net sections of Option Lands for a purchase price of $20 million. These lands
are contiguous or proximal to Crew's existing lands and include approximately 31
net sections in the Altares/Attachie liquids rich gas window and approximately
28 net sections at Goose in the oil window of the over pressured regional
Montney complex in Northeast British Columbia.


Crew has maintained the exclusive option to acquire approximately 81 additional
net sections of land for $36 million subject to adjustments with such payment to
be comprised of cash or a minimum of $10 million cash and the issuance of Crew
common shares at Crew's election. The option election period on the remaining
lands has been extended from March 15, 2013 to June 3, 2013. This option, if
exercised, is expected to close by July 9, 2013. Completion of these
transactions furthers the Company's strategic consolidation of prospective
Montney acreage in the area. This timing is beneficial to Crew as the staged
option exercise better fits the Company's budgeting profile while allowing the
Company to further consolidate prospective Montney acreage in the area. 


Forward Looking Statements and Information

This news release contains certain forward looking statements and information
within the meaning of applicable securities laws. In particular, but without
limiting the foregoing, this news release contains forward looking statements
and information pertaining to the anticipated completion of the acquisition of
lands in Northeast British Columbia on or about March 1, 2013 and the expected
completion and timing of the acquisition of the remaining lands in the event the
option is exercised by Crew. 


Forward looking statements or information are based on a number of material
factors, expectations or assumptions of Crew which have been used to develop
such information or statements and which may prove to be incorrect. Although
Crew believes that the expectations reflected in such forward looking statements
or information are reasonable, undue reliance should be not placed on forward
looking statements because Crew can give no assurance that such expectations
will prove to be correct. In addition to other factors and assumptions which may
be identified herein, assumptions have been made regarding, among other things,
that all conditions to closing of the transactions are satisfied or waived and
the ability of Crew to obtain financing on acceptable terms. 


The forward looking statements and information contained in this news release
speak only as of the date of this news release and Crew does not assume any
obligation to publically update or revise any of the included forward looking
statements or information, whether as a result of new information, future events
or otherwise, except as may be required by applicable securities laws.


BOE equivalent 

Barrel of oil equivalents or BOEs 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 ration
based on the current price of crude oil as compared to natural gas is
significantly different than the energy equivalency of the 6:1 conversion ratio,
utilizing the 6:1 ratio may be misleading as an indication of value. 


Crew is a Calgary, Alberta based oil and gas exploration, development 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


Crew Energy Inc.
John Leach
Senior Vice President and C.F.O.
(403) 231-8859


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

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