DAY Ceridian HCM Holding Inc

Daylight Energy Ltd. ("Daylight" or the "Corporation") (TSX:DAY) today announced
it has reached an agreement with a private company, Gear Energy Ltd. ("Gear"),
to sell certain of Daylight's oil and natural gas assets in Eastern Alberta for
aggregate consideration of $125 million, consisting of $100 million in cash and
$25 million in equity. 


Divestiture of this asset package is a continuation of Daylight's strategic
repositioning of our portfolio towards growth by monetizing non-core properties
and focusing financial and technical resources on core growth assets at Pembina,
West Central Alberta and Elmworth in the Deep Basin. Proceeds from this
transaction provide Daylight with additional balance sheet flexibility to pursue
strategic and capital investment opportunities as they arise. Daylight's
previously announced consolidated 2010 capital budget of $300 million remains
unchanged. 


This asset package operating area includes the areas referred to as Bonnyville,
Halkirk, Lloydminster, Paradise, Sounding Lake, Vermillion and Wildmere.
Production from these assets during the first quarter of 2010 was approximately
2,300 barrels of oil equivalent per day and is predominantly heavy oil. Closing
of the transaction is subject to industry standard terms and conditions and
regulatory approvals, and is expected to occur by the middle of July, 2010 with
a July 1, 2010 effective date. Proceeds from this asset disposition will
initially be used to reduce outstanding indebtedness under Daylight's credit
facilities.


Gear Energy Ltd. is a private Calgary-based oil and gas company led by Don Gray
(Executive Chairman) and Rick Braund (Director), previously co-founders of Peyto
Energy Trust, and Ingram Gillmore (President & CEO), former VP Engineering at
ARC Energy Trust. 


Daylight is a growing intermediate oil, liquids rich natural gas and natural gas
producing company with a high quality suite of resource play assets in Western
Canada. Daylight's highly focused team utilizes technical expertise in
exploitation, development and acquisitions to create long-term value for
shareholders. The Daylight team has developed a multi-year inventory of
repeatable, low risk exploitation resource play projects with substantial
potential reserve additions on assets owned and controlled in the premier Deep
Basin area of Alberta and Northeast British Columbia. Daylight has approximately
204 million Daylight Shares currently outstanding which trade on the Toronto
Stock Exchange ("TSX") under the symbol DAY. Daylight Series B, Series C, and
Series D convertible debentures trade on the TSX under the symbols DAY.DB.B,
DAY.DB.C and DAY.DB.D, respectively.


ADVISORY:

Forward-Looking Information and Statements 

This press release contains forward-looking statements and forward-looking
information within the meaning of applicable securities laws. The use of any of
the words "expect", "anticipate", "continue", "estimate", "objective",
"ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and
similar expressions are intended to identify forward-looking statements or
information. More particularly and without limitation, this press release
contains forward-looking statements and information concerning: the anticipated
timing of closing of the transaction and the anticipated use of proceeds to
Daylight from the transaction.


The forward-looking statements and information in this press release are based
on certain key expectations and assumptions made by Daylight. These expectations
include expectations regarding timing of completion of the transaction, which is
in turn based on certain assumptions that it believes are reasonable at this
time, including assumptions as to the timing of receipt of the necessary
regulatory and other third party approvals, and the time necessary to satisfy
the conditions to the closing of the transaction. These dates may change for a
number of reasons, including unforeseen delays in preparing necessary materials,
inability to secure necessary regulatory or other third party approvals in the
time assumed or the need for additional time to satisfy the conditions to the
completion of the transaction. Accordingly, readers should not place undue
reliance on the forward-looking statements and information contained in this
press release concerning these times.


Although Daylight believes that the expectations and assumptions on which such
forward-looking statements and information are based are reasonable, undue
reliance should not be placed on the forward-looking statements and information
because Daylight can give no assurance that they will prove to be correct. 


Since forward-looking statements and information address future events and
conditions, by their very nature they involve inherent risks and uncertainties.
Actual results could differ materially from those currently anticipated due to a
number of factors and risks. These risks include risks associated with
Daylight's business and operations, failure to obtain regulatory and other third
party approvals and failure to satisfy certain other conditions required to
complete the transaction. Readers are cautioned that the foregoing list of risk
factors is not exhaustive. Additional information on these and other factors
that could affect the business, operations or financial results of Daylight are
included in reports on file with applicable securities regulatory authorities,
including but not limited to Daylight Resources Trust's Annual Information Form
for the year ended December 31, 2009 and Daylight Resources Trust's Notice of
Annual and Special Meeting and Information Circular and Proxy Statement dated
April 7, 2010, each of which may be accessed on Daylight Resources Trust's (the
predecessor to Daylight) SEDAR profile at www.sedar.com.


The forward-looking statements and information contained in this press release
are made as of the date hereof and Daylight undertakes no obligation 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.


Barrels of Oil Equivalent

"Boe" or " barrel of oil equivalent" means barrel of oil equivalent on the basis
of 1 boe to 6,000 cubic feet of natural gas. Boe's may be misleading,
particularly if used in isolation. A boe conversion ratio of 1 boe for 6,000
cubic feet of natural gas is based on an energy equivalency conversion method
primarily applicable at the burner tip and does not represent a value
equivalency at the wellhead.

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