ConocoPhillips Acquires Adjoining Acreage for $171.93/Acre

Great Bear Increases Shale Position

Royale Energy, Inc. (ROYL) announced the state of Alaska has published the results of Alaska's North Slope Areawide 2012W Lease Sale. Among many encouraging results was the award of Apparent High Bidder on Block 749 to ConocoPhillips (COP) with a bid of $171.93 per acre. This block is immediately adjacent to Royale's Block 613, part of 33,736 acres in the company's Colville River holdings and part of Royale's overall 91,060 acre holdings on state acreage on the North Slope. Royale's overall average cost per acre is $27.21 and the cost of block 613 was $20.10 per acre.

ZaZa Energy Reports Record 2012 Third Quarter Results

Company Reports Record Revenues and Net Income, Takes Steps to Improve its Financial Position and Provides Updates on its Core Eaglebine and Eagle Ford Resources

ZaZa Energy Corporation (“the Company” or “ZaZa”) (ZAZA) today announced operational and financial results for its third quarter and nine- months ended September 30, 2012.

On February 21, 2012, following the successful consummation of a transaction under an Agreement and Plan of Merger and Contribution, ZaZa Energy Corporation became the parent company of ZaZa LLC and Toreador Resources Corporation.

Gran Tierra Energy Inc. Announces Third Quarter 2012 Results and Positive Moqueta-7 Drilling Results

Quarter Highlighted by Record Production and Revenue, and Significant Additional Potential Pay in Moqueta Field Appraisal Well, Colombia

Gran Tierra Energy Inc. ("Gran Tierra Energy") (NYSE MKT: GTE), (TSX: GTE), a company focused on oil and gas exploration and production in South America, today announced its financial and operating results for the quarter ended September 30, 2012. All dollar amounts are in United States dollars unless otherwise indicated.

Highlights for the quarter include: 

Quarterly production, net after royalty ("NAR") and adjusted for inventory changes, was a record 19,491 barrels of oil equivalent per day ("BOEPD"). This represents a 6% increase in average daily production, adjusted for inventory changes, from the comparable period in 2011 of 18,369 BOEPD NAR;

U.S. Geothermal Inc.: Two of Three Power Plant Modules at Neal Hot Springs Are Producing Up to 16.8 Megawatts   U.S. Geothermal Inc. (TSX:GTH)(NYSE MKT:HTM), a leading renewable energy company focused on the development, production and sale of electricity from geothermal energy, today announced an update on the construction of its three module, 22 net megawatt geothermal power plant at the Neal Hot Springs project, located in Malheur County, Oregon.

Construction work for the air cooled power plant is largely complete and the contractor is now focused on achieving commercial operation within the fourth quarter of 2012. Current activities include:

Lundin Petroleum Commences Tembakau Exploration Well, Offshore Peninsula Malaysia   Lundin Petroleum AB (Lundin Petroleum) (TSX:LUP)(OMX:LUPE) is pleased to announce that it has commenced the fourth well in its 2012 Malaysian drilling campaign with the spud of Tembakau-1 exploration well in PM307 Block, offshore east coast Peninsula Malaysia.

The well will target hydrocarbons in Oligocene and Miocene aged sands in a low-relief structure 50 km to the northwest of the Bertam-2 oil discovery made by Lundin Petroleum in 2011.

Tembakau-1 is a vertical well to be drilled by the jackup rig West Courageous to a depth of 1,650 metres in approximately 80 metres water depth. The drilling of the well is expected to take two to three weeks.

Africa Oil Twiga South-1 Well Update

Africa Oil Corp. ("Africa Oil" or the "Company") (TSX VENTURE:AOI)(OMX:AOI) reports that following media speculation in Kenya, the Company announces that the Twiga South-1 exploration well in onshore Kenya Block 13T has successfully encountered oil. Drilling is on-going and, as previously stated on October 26 2012, an announcement of the drilling result is expected in early to mid-November after target depth has been achieved and necessary sampling and analysis has been completed.

The Twiga South-1 structure is the second prospect to be tested as part of a multi-well drilling campaign in Kenya and Ethiopia and is the first discovery in Block 13T following the Ngamia-1 discovery earlier this year in Block 10BB.

Calyx's Operating Subsidiary Makes Aviation History, Powers the World's First 100% Biofuel Flight

 Calyx Bio-Ventures Inc. (TSX VENTURE:CYX) ("Calyx" or the "Company") is pleased to announce yesterday's successful completion of the world's first civil jet flight powered by 100% renewable, drop-in biofuel, conducted with the Falcon 20 jet of the National Research Council of Canada ("NRC"). The drop-in fuel was produced from feedstock produced by the Company's operating subsidiary, Agrisoma Biosciences Inc. ("Agrisoma"). Agrisoma's Resonance™ Energy Feedstock is a dedicated industrial oilseed that has been launched at commercial scale in 2012 across a broad region of western Canada. This historic flight symbolizes a significant step not only for the aerospace industry, but also towards advancing sustainable sources of renewable energy.

Caza Oil & Gas Provides Operational Update

Caza Oil & Gas, Inc. ("Caza" or the "Company") (TSX:CAZ)(AIM:CAZA) is pleased to provide an operational update on the Company's drilling activities in southeast New Mexico.

Forehand Ranch Prospect, Eddy County, New Mexico. The Forehand Ranch 27 State Com No. 1H horizontal well has reached the intended total vertical depth of approximately 9,450 feet subsurface and log data and core samples have been obtained. Based on analysis of the log and core data, Caza and its partners are now preparing to commence drilling the horizontal section of the well through the primary objective 2nd Bone Spring Sand targeting the interval centered at 7,350 feet measured depth.

Petrobank Announces Agreement With PetroBakken To Create Two Fully Independent Companies

Petrobank Energy and Resources Ltd. (PBG.TO) is pleased to announce that we have entered into an agreement with PetroBakken Energy Ltd. (PBN.TO), our 57% owned subsidiary, to complete a corporate reorganization that will see Petrobank shareholders effectively receive Petrobank's proportionate interest in our PetroBakken share holdings while maintaining their interest in the remaining Petrobank assets (the "Reorganization"). Petrobank and PetroBakken have signed an arrangement agreement detailing the terms and conditions of the Reorganization. The Board of Directors of each Company have approved the Reorganization, which is anticipated to become effective on December 31, 2012 (the "Effective Date").

PETRONAS Extends the Outside Date under Arrangement Agreement with Progress

PETRONAS Carigali Canada Ltd ("PETRONAS Canada") and Progress Energy Resources Corp. ("Progress") (TSX:PRQ) announced today that PETRONAS Canada has exercised its right under the arrangement agreement between the parties to extend the "Outside Date" under the agreement to November 30, 2012.  The Outside Date was originally established as October 31, 2012. Under the agreement, PETRONAS Canada has the right to extend the Outside Date from October 31, 2012 for up to 90 additional days, in 30 day increments, if the required regulatory approvals have not been obtained.  After the Outside Date, either party has the right to terminate the agreement.

Africa Oil Completes Farmout With New Age and Twiga Update

  Africa Oil Corp. ("Africa Oil" or the "Company") (TSX VENTURE:AOI)(OMX:AOI) is pleased to report that it has completed the previously announced (July 23, 2012) farmout agreement with New Age (African Global Energy) Limited ("New Age") whereby New Age acquired an additional 25% interest in Africa Oil's Blocks 7 & 8 in Ethiopia, together with operatorship of Blocks 7 & 8 and the Adigala Area. In consideration of the assignment of the interest New Age paid Africa Oil $1.5 million in consideration of past costs. Following the completion of the New Age farmout transaction, the resulting interest in Blocks 7 & 8 will be as follows:

Whitecap announces increase to credit facilities and disposition of non-core assets

Whitecap Resources Inc. ("Whitecap", "we", "us", "our" or the "Company") (WCP.TO) is pleased to announce that as a result of continued operational success in each of our core areas and the related production and reserve increases, our credit facility has increased 13% to $450 million . In addition, Whitecap has entered into agreements in principle to sell non-core assets for total cash proceeds of approximately $56.4 million . The increase to our credit facility and the proceeds from the non-core asset dispositions provides us with significant financial flexibility for ongoing operations moving into 2013.

Oando Energy Resources brings Ebendo-4 well on production at 2,000 bopd

Oando Energy Resources Inc. ("OER" or the "Company") (TSX: OER), today announced that the Ebendo-4 well, in which OER has a 42.75% working interest, has been brought on production at 2,000 bopd (855 bopd net to OER).

"Bringing the EB-4 well on stream boosts the combined gross production from the Ebendo field significantly to 4,000 bopd," said Pade Durotoye, CEO of OER. "Following the success of the EB-4 well, we continue to advance our Ebendo drilling program with our EB-5 well that is aimed at appraising the untested hydrocarbons contained within the five levels of hydrocarbon bearing sands that were encountered during the EB-4 drilling program."

DayStar Technologies, Inc. (DSTI) Enters Into a LOI to Acquire 100% of Ontario, Canada Based Grasshopper Energy

DayStar Technologies, Inc. (DSTI) ("DayStar") ("the Company") entered into LOI agreement to acquire Grasshopper Energy, with the anticipation of completing the purchase in 30 days. Grasshopper Energy provides turnkey solutions for solar power systems, having one of the largest and most respected presences in Ontario, Canada. The purchase is a 100% equity transaction.

Grasshopper CEO, Azeem Qureshi, stated, "We believe that joining forces with DayStar will benefit the combined entities and help accelerate achieving global goals. The Grasshopper Energy Online Suite (GEOS) propriety software tools and systems significantly reduce cost and labor.

Simba Energy Signs PSC for Three Oil Blocks in Republic of Chad   Simba Energy Inc. ("Simba" or the "Company") (TSXV: SMB; Frankfurt: GDA; OTCQX: SMBZF), is pleased to announce it has signed a Production Sharing Contract (PSC) with the Republic of Chad for 100% interests in three prospective oil & gas blocks within the Doba, Doseo and Erdis basins.

The PSC for all three blocks has a first exploration phase of five years and a second exploration phase of three years. The first exploration phase requires geological and geophysical studies to include processing and reinterpretation of existing 2D seismic, acquisition of at least 750 kilometres of new 2D seismic, as well as 400 km² of 3D seismic (or 2D equivalent) to determine the range of possible drilling opportunities for the second phase that requires two exploration wells.

Broadwind Energy Wins $37 Million in Tower Orders

Broadwind Energy, Inc. (BWEN) announced today that it has been awarded tower orders totaling approximately $37 million from two U.S. wind turbine manufacturers, for manufacture beginning in late 2012 and extending well into 2013. The towers will be produced in the Company’s Manitowoc, WI facility.

Peter C. Duprey, president and CEO of Broadwind Energy, Inc., stated, “The market for wind towers in the U.S. is coming into balance. Due to the pending expiration of the Production Tax Credit and the wind tower trade case, a number of competitors, both foreign and domestic, have exited the market or repurposed some of their production assets.

ExxonMobil Canada Acquires Celtic Exploration Ltd., Including Liquids-Rich Montney Shale Acreage

Agreement includes 649,000 net acres in the Montney and Duvernay shales in Alberta

ExxonMobil Canada today announced an agreement with Celtic Exploration Ltd. (“Celtic”) under which an ExxonMobil Canada affiliate will acquire Celtic.

Under the terms of the agreement, ExxonMobil Canada will acquire 545,000 net acres in the liquids-rich Montney shale, 104,000 net acres in the Duvernay shale and additional acreage in other areas of Alberta.

Current production of the acreage to be acquired is 72 million cubic feet per day of natural gas and 4,000 barrels per day of crude, condensate and natural gas liquids.

Canacol Energy Ltd. and Shona Energy Company, Inc. Announce Business Combination

Canacol Energy Ltd. ("Canacol" or the "Corporation") (TSX:CNE) (BVC:CNEC) and Shona Energy Company, Inc. ("Shona") (TSX VENTURE:SHO) (OTCQX:SHOAF) are pleased to jointly announce that they have entered into an agreement (the "Arrangement Agreement") whereby Canacol will acquire 100% of the issued and outstanding class "A" common shares of Shona ("Shona Common Shares") and series "A" preferred shares of Shona ("Shona Preferred Shares"), in exchange for common shares of Canacol ("Canacol Shares") and cash, by way of a statutory plan of arrangement (the "Arrangement"). The transaction is expected to close on or around December 20, 2012, provided all required Shona and Canacol securityholder, court and regulatory approvals are obtained.

Longwei Petroleum Commences Operations at its Huajie Fuel Storage Depot

Huajie facility opens new market for the Company in northern Shanxi Province

Longwei Petroleum Investment Holding Ltd. (NYSE MKT: LPH) ("Longwei" or the "Company"), an energy company engaged in the storage and distribution of finished petroleum products in the People's Republic of China ("PRC"), announced that it has commenced operations at its Huajie fuel storage depot in northern Shanxi Province. 

Longwei received its first shipment of petroleum to the new Huajie facility last week and began to sell product to customers on October 11, 2012.  The Company's engineers and staff have been working on the facility assets since closing to bring it to operational status and begin distribution activities. 

Kallisto Energy Completes Acquisition of Cumberland Oil & Gas and Announces Two New Pembina Wells

NOT FOR DISTRIBUTION OR DISSEMINATION IN THE UNITED STATES.

Kallisto Energy Corp. (TSX VENTURE:KEC) ("Kallisto" or the "Company") and Cumberland Oil & Gas Ltd. (TSX VENTURE:COG) ("Cumberland") are pleased to announce that they have completed their previously announced arm's length business combination by way of a plan of arrangement under the Business Corporations Act (Alberta). The plan of arrangement was approved by an overwhelming majority of more than 99% of the votes cast by the Cumberland shareholders at the special meeting of Cumberland shareholders held on October 10, 2012. Final approval of the plan of arrangement was granted by the Court of Queen's Bench of Alberta on October 10, 2012.

Pursuant to the terms of an arrangement agreement between the parties, Kallisto acquired all of the outstanding common shares of Cumberland ("Cumberland Shares") on the basis of 0.9180 of a common share of Kallisto ("Kallisto Share") for each outstanding Cumberland Share (the "Transaction"). After completing the Transaction, Kallisto has 93,601,536 Kallisto Shares outstanding with Kallisto shareholders owning approximately 65% and Cumberland shareholders owning approximately 35% of the combined Company.

Following closing of the Transaction, Kallisto and Cumberland completed a short form amalgamation and continued under the name Kallisto Energy Corp.

Kallisto's existing executive team, led by Robyn Lore, continues to manage the combined Company. Steven Cloutier and Martin Hislop, members of the board of directors of Cumberland immediately prior to completion of the Transaction, were appointed to the board of directors of Kallisto at closing.

The Cumberland Shares are currently halted from trading on the facilities of the TSX Venture Exchange and it is expected that the Cumberland Shares will be delisted on October 15, 2012. The Kallisto Shares continue to trade on the facilities of the TSX Venture Exchange under the symbol "KEC".

Pembina, Alberta Wells

Kallisto also announces that wells three and four of the planned water-flood scheme at Pembina, Alberta have been drilled, completed and placed on production. The horizontal wells, located at 102/04-04-048-03 W5M and 100/05-04-048-03 W5M, were completed using multi-stage fracture stimulations. The drilling of the first two wells of the water-flood scheme was announced on August 13, 2012. Production from the four new horizontal wells is in line with historical performance from previous wells. Kallisto now has an interest in twelve producing Cardium oil wells at Pembina.

The water-flood scheme is expected to result in the drilling of a total of five horizontal oil wells in section 4-048-03 W5M, four in 2012 (which have now all been drilled, completed and are on production) and one in 2013, bringing the total number of wells in the section to seven. The new wells are expected to be produced through the 5% royalty period for horizontal oil wells (the earlier of two years or 60,000 bbls). Three of the seven wells in the section will be converted to water injection wells; the first well in Q4 2012 and the next two wells in 2014/2015. Kallisto's share of the water-flood project costs is estimated to be approximately $4.2 million.

Following a successful evaluation of the results of the water-flood in section 4, the water-flood project is expected to be expanded to include part or all of the remaining two sections of land in the Pembina project.

The development of its Pembina lands has added significant reserve value and cash flow to the Company. Since the beginning of production operations in November 2009, the first ten Pembina wells have produced a total of approximately 460,000 BOE, including 392,000 bbls of oil. Initial 30 day field production rates from the first ten wells averaged approximately 230 BOE/d (69 net), including 210 bbls (63 net) of oil. Kallisto has a 30% working interest in the Pembina project.

About the Combined Company

The combined Company is a Calgary-based junior resource company engaged in the exploration, development and production of oil and natural gas in Alberta and Saskatchewan. Key attributes of the combined Company include:

Healthy balance sheet; Positive cash flow from a current production base of approximately 430 BOE/d (approximately 70% oil and liquids); A credit facility of $8.8 million to supplement growth capital expenditures; Tax pools of approximately $48.0 million; Proved Reserves of 1,302 MBOE and Proved plus Probable Reserves of 2,034 MBOE based on the independent reserve reports effective December 31, 2011 of each of Kallisto and Cumberland; A significant land base, including 78,000 net acres of undeveloped land; A diversified asset base with abundant near term drilling opportunities including: Cardium light oil at Pembina; Doe Creek light oil at Valhalla; Basal Quartz liquids rich gas and Elkton light oil at Crossfield; and Shaunavon crude oil in southwest Saskatchewan; Significant potential upside from a waterflood programs being implemented at Pembina and Valhalla.

Forward-Looking Statements

In the interest of providing shareholders and potential investors with information regarding the combined Company, including management's assessment of the future plans and operations of the combined Company and ongoing operations in the Pembina, Alberta area, certain statements contained in this joint news release constitute forward-looking statements or information (collectively "forward-looking statements") within the meaning of applicable securities legislation. Forward-looking statements are typically identified by words such as "anticipate", "continue", "estimate", "expect", "forecast", "may", "will", "project", "could", "plan", "intend", "should", "believe", "outlook", "potential", "target" and similar words suggesting future events or future performance. In addition, statements relating to "reserves" are deemed to be forward-looking statements as they involve the implied assessment, based on certain estimates and assumptions, that the reserves described exist in the quantities predicted or estimated and can be profitably produced in the future. In particular, this joint news release contains, without limitation, forward-looking statements pertaining to the potential attributes of the combined Company, including the effect of the Transaction on Kallisto's balance sheet, tax pools, production, reserves, asset base and undeveloped land position, as well as statements pertaining to Kallisto's proposed activities in the Pembina, Alberta area.

With respect to forward-looking statements contained in this joint news release, assumptions have been made regarding, among other things: Kallisto's expectations regarding future growth, results of operations production, future capital and other expenditures (including the amount, nature and sources of funding thereof); and the ability of Kallisto to execute and realize on the anticipated benefits of the Transaction. Although Kallisto believes that the expectations reflected in the forward looking statements contained in this joint news release, and the assumptions on which such forward-looking statements are made, are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this joint news release, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur.

By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause Kallisto's actual performance and financial results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, the following: volatility in market prices for oil and natural gas; incorrect assessment of the value of the Transaction; failure to realize the anticipated benefits and synergies of the Transaction; the general economic conditions in Canada, the U.S. and globally; industry conditions; governmental regulation; imprecision of reserve and resource estimates; environmental risks; competition from other industry participants; stock market volatility; Kallisto's ability to access sufficient capital from internal and external sources; and the other factors described under "Risk Factors" in Kallisto's most recently filed Annual Information Form available in Canada at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

The forward-looking statements contained in this joint news release speak only as of the date of this joint news release. Except as expressly required by applicable securities laws, we do not undertake any obligation to publicly update or revise any forward looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this joint news release are expressly qualified by this cautionary statement.

Barrels of Oil Equivalent

Barrels of oil equivalent (BOE) are calculated using the conversion factor of 6 Mcf (thousand cubic feet) of natural gas being equivalent to one barrel of oil. BOE may be misleading, particularly if used in isolation. A BOE conversion ratio of 6 Mcf: 1 bbl (barrel) 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.

This joint news release does not constitute an offer to sell or the solicitation of an offer to buy any securities within the United States. The securities to be offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of such Act or other laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this joint news release.