Donnybrook Announces Closing of Asset Exchange and Arrangement

Donnybrook Announces Closing of Asset Exchange and Arrangement 
CALGARY, ALBERTA -- (Marketwired) -- 04/15/13 -- Donnybrook Energy
Inc. ("Donnybrook" or the "Company") (TSX VENTURE:DEI) reports the
closing of the previously announced arrangement (the "Arrangement")
involving the Company, Cequence Energy Ltd. ("Cequence") and holders
("Donnybrook Shareholders") of common shares of Donnybrook
("Donnybrook Shares") under which Donnybrook has transferred its
interest in its Simonette and Resthaven oil and gas properties
("Donnybrook Assets") to Cequence for consideration consisting of
10.3 million common shares of Cequence ("Cequence Shares") and
Cequence's interest in its Fir oil and gas property ("Cequence
Assets"), by way of a plan of arrangement under the Business
Corporations Act (Alberta) (the "Plan of Arrangement"). 
The Plan of Arrangement was approved by 99.85% of the votes cast by
Donnybrook Shareholders at a special meeting of Donnybrook
Shareholders on April 15, 2013 (the "Special Meeting") and was also
approved by the Court of Queen's Bench of Alberta. Under the terms of
the Plan of Arrangement, Donnybrook transferred the Donnybrook Assets
to Cequence in exchange for the Cequence Assets and 10.3 million
Cequence Shares. The Donnybrook Assets transferred to Cequence
consist of 38 gross (19 net) sections of land with net production of
approximately 120 boe per day. 
Pursuant to the Plan of Arrangement, Donnybrook Shareholders received
0.0527 of a Cequence Share for each Donnybrook Share outstanding at
the effective time of the Arrangement (the "Distribution") by way of
a "reduction of capital", being in the aggregate equal to
approximately 5.13 percent of the outstanding Cequence Shares. 
Cequence is a natural gas and oil resource play focused company with
current production in excess of 9,000 boe per day. The majority of
Cequence's production comes from the Deep Basin in the Simonette area
where it owns Montney and other Cretaceous oil and gas rights, now
including the Simonette property forming part of the Donnybrook
Donnybrook now holds its Bigstone property with 8 gross (3.75 net)
sections of land and the newly acquired Fir property which consists
of a total of 14 gross (3.90 net) sections of land and long life, low
decline production of approximately 220 net boe per day. The Fir
property is approximately 35 km from the Bigstone property. 
Donnybrook will continue to consider strategic alternatives and the
maximization of shareholder value and which alternatives may include
further acquisitions or dispositions of assets, recapitalization or
mergers with other companies. Except as required by law, Donnybrook
does not intend to disclose developments with respect to strategic
alternatives until the board of directors of the Company has approved
a definitive transaction or strategic alternative. The Company
cautions that there are no guarantees that a transaction will be
undertaken or a strategic alternative pursued. 
For more information about the Arrangement and the Distribution
(including due bill trading), please refer to Donnybrook's
information circular and proxy statement dated March 15, 2013 and the
Company's news release dated March 28, 2013. 
Further information relating to Donnybrook is also available on its
website at 
Malcolm F. W. Todd, Chief Executive Officer 
This press release contains forward-looking statements or information
("forward-looking statements") within the meaning of applicable
securities laws, including statements regarding the consideration by
the Company of strategic alternatives. The use of any of the words
"will", "expects", "believe", "plans", "potential" and similar
expressions are intended to identify forward-looking statements. The
forward-looking statements in this press release are based on certain
key expectations and assumptions made by Donnybrook. There is no
assurance that these expectations and assumptions will be met or
satisfied and there is therefore no assurance that the transaction
will be completed in the time frame anticipated or at all. Since
forward-looking statements address future events and conditions, by
their very nature they involve inherent risks and uncertainties, some
of which are beyond Donnybrook's control, including tax consequences
of the Arrangement, the impact of general economic conditions,
industry conditions, volatility of commodity prices, currency
fluctuations, imprecision of reserve estimates, environmental risks,
operational risks in exploration and development, competition from
other industry participants, the lack of availability of qualified
personnel or management, stock market volatility and the ability to
access sufficient capital from internal and external sources. Readers
are cautioned that the foregoing list of factors is not exhaustive. 
Although Donnybrook believes that the expectations in our
forward-looking statements are reasonable, our forward-looking
statements have been based on factors and assumptions concerning
future events which may prove to be inaccurate. Those factors and
assumptions are based upon currently available information. Such
statements are subject to known and unknown risks, uncertainties and
other factors that could influence actual results or events and cause
actual results or events to differ materially from those stated,
anticipated or implied in the forward looking information. As such,
readers are cautioned not to place undue reliance on the forward
looking information, as no assurance can be provided as to future
results, levels of activity or achievements. Additional information
on these and other factors that could affect the operations or
financial results of Donnybrook are included in Donnybrook's Annual
Information Form, management's discussion and analysis and other
documents filed with applicable securities regulatory authorities and
may be accessed through the SEDAR website ( The
forward-looking statements contained in this press release are made
as of the date hereof and Donnybrook undertakes no obligation to
update publicly or revise any forward-looking statements, whether as
a result of new information, future events or otherwise, unless so
required by applicable securities laws. The forward-looking
statements contained in this press release are expressly qualified by
this cautionary statement. 
Where amounts are expressed on a barrel of oil equivalent ("BOE")
basis, natural gas volumes have been converted to oil equivalence at
six thousand cubic feet per barrel. The term BOE may be misleading,
particularly if used in isolation. A BOE conversion ratio of six
thousand cubic feet per 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. 
Donnybrook Energy Inc.
Malcolm Todd
President and Chief Executive Officer
(604) 684-2356
(604) 684-4265 (FAX)
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