PMGYF Perpetual Energy Inc (PK)

NEWS RELEASE

PERPETUAL ENERGY INC. ANNOUNCES

NORMAL COURSE ISSUER BID FOR ITS

7.25% and 7.00% CONVERTIBLE DEBENTURES

Calgary, Alberta ? June 6, 2013 (TSX: PMT) ? Perpetual Energy Inc. ("Perpetual") announced today that the Toronto Stock Exchange ("TSX") has accepted Perpetual's Notice of Intention to make a Normal Course Issuer Bid  (the "Bid") to purchase for cancellation, from time to time, as Perpetual considers advisable, up to a maximum of $7,536,000 principal amount of 7.25% convertible extendible unsecured subordinated debentures (the "7.25% Debentures") and $3,873,000 principal amount of 7.00% convertible extendible unsecured subordinated debentures due December 31, 2015 (the "7.00% Debentures") (the 7.25% Debentures and the 7.00% Debentures are together the "Debentures"). Purchases of Debentures will be made on the open market through the TSX.  There are currently $99,972,000 7.25% Debentures outstanding and $60,000,000 7.00% Debentures outstanding. The maximum number of Debentures to be purchased pursuant to the Bid represents approximately 10% of the public float of the Debentures issued and outstanding on the date hereof, calculated in accordance with the rules of the TSX (being $7,748,000 principal amount of 7.25% Debentures and $3,873,000 principal amount of 7.00% Debentures). The price which Perpetual will pay for any Debentures purchased by it will be the prevailing market price of the Debentures on the TSX at the time of such purchase. The actual number of Debentures that may be purchased for cancellation and the timing of any such purchases will be determined by Perpetual.

The Bid will commence on June 10, 2013 and will terminate on June 9, 2014 or such earlier time as the Bid is completed or terminated at the option of Perpetual. The daily limit on purchases under the Bid is $9,000 7.25% Debentures and $14,000 7.00% Debentures, based on 25% of Perpetual's average daily trading volume for the prior six months of $37,000 7.25% Debentures and $58,000 7.00% Debentures.  Management of Perpetual believes that, from time to time, the market price of the Debentures may not fully reflect the underlying value of the Debentures and that at such times the purchase of Debentures would be in the best interests of Perpetual. Such purchases will increase the proportionate interest of, and may be advantageous to, all remaining debentureholders.

Perpetual Energy Inc. is a natural gas-focused Canadian energy company. Perpetual's shares and Convertible Debentures are listed on the Toronto Stock Exchange under the symbols "PMT", "PMT.DB.D" and "PMT.DB.E". Further information with respect to Perpetual can be found at its website at www.perpetualenergyinc.com.

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