Manitok Energy Inc. Announces Unaudited 2013 Financial and Operating Results, the 2013 Reserves Evaluation and an Operational

Manitok Energy Inc. Announces Unaudited 2013 Financial and Operating Results, 
the 2013 Reserves Evaluation and an Operational Update 
NEWS RELEASE TRANSMITTED BY Marketwired 
FOR: Manitok Energy Inc. 
TSX VENTURE SYMBOL:  MEI 
APRIL 15, 2014 
Manitok Energy Inc. Announces Unaudited 2013 Financial and Operating Results,
the 2013 Reserves Evaluation and an Operational Update 
CALGARY, ALBERTA--(Marketwired - April 15, 2014) -  
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES OF AMERICA. 
Manitok Energy Inc. (the "Corporation" or "Manitok") (TSX
VENTURE:MEI) is pleased to announce its 2013 fourth quarter and year-end
unaudited financial and operational results; provide highlights from its 2013
independent Reserves Evaluation and provide an operational update. All
financial amounts referred to in this press release are management's best
estimates and the year-end financial statements have not yet been audited. 
The full text of Manitok's year-end report containing its audited
financial statements as at and for the year ended December 31, 2013, the
related management's discussion and analysis and Manitok's Annual
Information Form for the year ended December 31, 2013 will be available
electronically on Manitok's profile on the System for Electronic Document
Analysis and Retrieval ("SEDAR") at www.sedar.com and also on
Manitok's website at www.manitokenergy.com on or before April 30, 2013. 
Fourth Quarter Results (based on unaudited financial statements): 
/T/ 
--  Fourth quarter production averaged 4,989 boe/d (57% light oil and 
liquids), a 31% increase over production of 3,819 boe/d (49% light oil 
and liquids) in the third quarter of 2013 and a 62% increase over 
production of 3,078 boe/d (55% light oil and liquids) in the fourth 
quarter of 2012.  
--  Increased the oil and liquids weighting 16% over the oil and liquids 
weighting in third quarter of 2013.  
--  Recorded average production per share growth of 54% and cash flow per 
share growth of 75% when compared to the fourth quarter of 2012.  
--  Recorded funds from operations of $14.1 million ($0.19 per share), a 71% 
increase over funds from operations of $8.3 million ($0.12 per share) in 
the third quarter of 2013 and an 85% increase over funds from operations 
of $7.7 million ($0.11 per share) in the fourth quarter of 2012.  
--  Operating netback (excluding the realized gain or loss on financial 
instruments) was $35.11/boe, an 8% increase over the operating netback 
of $32.57/boe in the third quarter of 2013, and a 15% increase over the 
operating netback of $30.55/boe in the fourth quarter of 2012.  
--  Capital expenditures were approximately $44.2 million, which included 
drilling five gross (3.9 net) wells for about $19.8 million and closing 
a Lease Issuance and Drilling Commitment Agreement with Encana 
Corporation ("Encana Agreement") in the Entice area of Southeast 
Alberta, which accounted for $20.3 million, including capitalized 
overhead.  
/T/ 
Year-end Results (based on unaudited financial statements): 
/T/ 
--  Production averaged 4,113 boe/d (52% light oil and liquids), a 72% 
increase over production of 2,389 boe/d (40% light oil and liquids) in 
2012.  
--  Increased the oil and liquids weighting 30% over the oil and liquids 
weighting in 2012.  
--  Recorded average production per share growth of 54% and cash flow per 
share growth of 96% in 2013 when compared to 2012.  
--  Recorded funds from operations of $41.6 million ($0.59 per share), a 
118% increase over funds from operations of $19.1 million ($0.30 per 
share) in 2012.  
--  Operating netback (excluding the realized gain or loss on financial 
instruments) was $33.07/boe, a 29% increase over the operating netback 
of $25.59/boe in 2012.  
--  Capital expenditures including administrative assets and capitalized 
overhead were approximately $79.4 million, net of $3.4 million in 
dispositions. This included drilling 16 gross (9.8 net) wells for about 
$46.5 million, $9.0 million on equipment and facilities and closing the 
Encana Agreement, which accounted for $20.3 million including 
capitalized overhead.  
--  At December 31, 2013, net debt was approximately $32.5 million.  
--  At December 31, 2013, there were 74,492,340 outstanding common shares of 
Manitok ("Manitok Shares"). Subsequent to year-end and up to March 31, 
2014, a total of 3,350,300 Manitok Shares were purchased through the 
normal course issuer bid program, at an average price of $2.39 per share 
and 473,366 Manitok Shares were issued through Manitok's stock option 
plan, at an average price of $1.50 per share, for a total net decrease 
in Manitok Shares of 2,876,934 in the first quarter of 2014. The total 
outstanding Manitok Shares as at March 31, 2014 was 71,615,406.  
--  Increased undeveloped land to 323,907 net acres as at December 31, 2013, 
a 46% increase from 222,181 net acres as at September 30, 2013 and an 
81% increase from 178,938 net acres as at December 31, 2012.  
/T/ 
2013 Independent Reserves Evaluation 
Sproule Associates Limited ("Sproule"), Manitok's independent
qualified reserves evaluator based in Calgary, Alberta, prepared a Reserves
Estimation and Economic Evaluation effective December 31, 2013 in respect of
Manitok's oil and natural gas properties ("2013 Sproule
Report"). Sproule also prepared the reserves estimation and economic
evaluation effective December 31, 2012 ("2012 Sproule Report" and
together with the 2013 Sproule Report, the "Sproule Reports"). The
reserves estimates stated herein are as at December 31, 2013 and 2012 and are
extracted from the Sproule Reports. The Sproule Reports have been prepared in
accordance with the definitions, standards and procedures contained in the
Canadian Oil and Gas Evaluation Handbook ("COGE Handbook") and
National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities
("NI 51-101"). 
2013 Year-End Reserves Highlights: 
/T/ 
--  The pre-tax net present value discounted at 10% ("NPV10%") of proved 
plus probable ("P+P") reserves amounted to approximately $304.4 
million(1) in 2013, which is an increase of 75% from $173.6 million(1) 
in 2012. The net present value of total proved ("TP") reserves amounted 
to $182.8 million(1) in 2013, which is an increase of 78% from $102.9 
million(1) in 2012. Each of these NPV10% amounts does not include any 
additional value for Manitok's undeveloped land base and there are no 
reserves booked to the land associated with the Encana Agreement in the 
2013 Sproule Report.  
(1) Estimates of future net revenues whether discounted or not do not 
represent fair market value. 
--  Proved developed producing ("PDP") reserves increased 46%, from 3,985.5 
Mboe in 2012 to 5,801.5 Mboe in 2013, TP reserves increased 18%, from 
8,029.3 Mboe in 2012 to 9,457.0 Mboe in 2013, and P+P reserves increased 
12%, from 14,862.3 Mboe from 2012 to 16,719.5 Mboe in 2013 due to the 
success of Manitok's Cardium oil drilling program in the Stolberg area.  
--  PDP oil reserves increased 101%, from 1,063.0 Mbbls in 2012 to 2,131.8 
Mbbls in 2013; TP oil reserves increased 39%, from 2,738.1 Mbbls in 2012 
to 3,812.7 Mbbls in 2013; and P+P oil reserves increased 43%, to from 
5,268.2 Mbbls in 2012 to 7,541.9 Mbbls in 2013.  
--  Based on the 2013 Sproule Report, Manitok's P+P reserves are comprised 
of 45% light oil on a boe basis and 82% on a NPV10% valuation basis.  
--  Finding and development ("F&D") costs consisted of $25.33/boe for TP 
reserves and $23.89/boe for P+P reserves. These amounts include $20.1 
million of capital expenditures associated with the Encana Agreement 
(which accounts for approximately 26% of total 2013 capital 
expenditures) and the change in future development capital ("FDC") from 
2012. Recycle ratios consisted of 1.3 and 1.4 times for TP and P+P 
reserves respectively, based on a 2013 operating netback excluding the 
realized loss on financial instruments of $33.07/boe.  
--  Excluding the $20.1 million of capital expenditures related to the 
Encana Agreement which has no associated reserves in the 2013 Sproule 
Report, the Corporation achieved F&D costs including changes in FDC of 
$18.48/boe for TP reserves and $17.91/boe for P+P reserves. This 
represents a recycle ratio of 1.8 and 1.9 times for TP and P+P reserves 
respectively based on a 2013 operating netback excluding the realized 
loss on financial instruments of $33.07/boe.  
--  The three year average F&D costs including the change in FDC for Manitok 
is $21.46/boe for TP reserves and $14.86/boe for P+P reserves. Recycle 
ratios consisted of 1.5 and 2.2 times for TP and P+P reserves 
respectively, based on a 2013 operating netback excluding the realized 
loss on financial instruments of $33.07/boe.  
/T/ 
The following table summarizes Manitok's working interest oil and natural
gas reserves at December 31, 2013, using the Sproule forecast price
assumptions: 
Summary of Oil and Natural Gas Reserves 
/T/ 
--------------------------------------------------------------------------- 
Light and      Natural     Natural Gas                   
Medium Oil       Gas(2)       Liquids           Total     
------------------------------------------------------------- 
Gross     Net  Gross    Net  Gross    Net    Gross      Net
Reserve            (3)     (4)    (3)    (4)    (3)    (4)      (3)      (4)
Category       (Mbbls) (Mbbls) (Mmcf) (Mmcf)(Mbbls)(Mbbls)   (Mboe)   (Mboe)
---------------------------------------------------------------------------
Proved                                                                     
  Developed                                                                 
Producing  2,131.8 1,419.8 21,197 17,574  137.0   87.6  5,801.5  4,436.5
  Developed                                                                 
Non-                                                                     
Producing     57.0    47.4  7,904  6,404   10.5    6.4  1,384.9  1,121.1
  Undeveloped 1,623.9 1,103.4  3,616  2,947   44.0   31.1  2,270.6  1,625.7
---------------------------------------------------------------------------
Total Proved  3,812.7 2,570.7 32,717 26,925  191.5  125.1  9,457.0  7,183.3
Probable      3,729.2 2,488.7 20,109 16,739  181.8  122.4  7,262.5  5,400.9
---------------------------------------------------------------------------
Total Proved                                                               
 Plus                                                                      
 Probable     7,541.9 5,059.4 52,826 43,664  373.3  247.5 16,719.5 12,584.2
---------------------------------------------------------------------------
(1) Based on Sproule's December 31, 2013 forecast prices and costs. The     
forecast of commodity prices used in the 2013 Sproule Report can be     
found at www.sproule.com.                                              
(2) Estimates of reserves of natural gas include both associated and non-   
associated gas. Gross reserves are the Corporation's working interest   
share before deduction of royalty obligations and without including any 
royalty interests.                                                     
(3) Net reserves are the Corporation's working interest share after         
deduction of royalty obligations, plus royalty interests in such        
reserves.                                                              
(4) Columns may not add due to rounding of individual items.                
/T/ 
The following table is a summary of the net present value of future net revenue
associated with Manitok's reserves as at December 31, 2013 before
deducting future income tax expense and calculated at various discount rates: 
Net Present Values of Future Net Revenue Before Income Taxes 
/T/ 
--------------------------------------------------------------------------- 
Before Income Taxes             
Discounted at (%/year)           
------------------------------------------- 
0%       5%      10%      15%      20%
Reserve Category                    (M$)     (M$)     (M$)     (M$)     (M$)
---------------------------------------------------------------------------
Proved                                                                     
  Developed Producing           164,903  140,417  123,873  111,932  102,879
  Developed Non-Producing        17,966   13,754   11,015    9,126    7,759
  Undeveloped                    66,262   55,779   47,943   41,867   37,012
---------------------------------------------------------------------------
Total Proved                    249,131  209,949  182,831  162,925  147,651
Probable                        212,723  154,874  121,601   99,965   84,666
---------------------------------------------------------------------------
Total Proved Plus Probable      461,853  364,823  304,432  262,890  232,317
---------------------------------------------------------------------------
(1) Based on Sproule's December 31, 2013 forecast prices and costs. The     
forecast of commodity prices used in the 2013 Sproule Report can be     
found at www.sproule.com.                                              
(2) Columns may not add due to rounding of individual items.               
(3) Estimates of future net revenues whether discounted or not do not       
represent fair market value.                                            
/T/ 
The following table is a reconciliation of Manitok's gross reserves as
derived from the Sproule Reports: 
Reserves Reconciliation of Gross Reserves(1) 
/T/ 
--------------------------------------------------------------------------- 
Gross          Gross   Gross Proved 
Proved       Probable  Plus Probable 
(Mboe)         (Mboe)         (Mboe)
---------------------------------------------------------------------------
December 31, 2012                     8,029.5        6,832.8       14,862.3
Discoveries, extensions and                                                
 infill drilling                      2,202.5        2,634.9        4,837.3
Acquisitions (dispositions)                 -              -              -
Technical revisions(2)                  760.1       (2,192.4)      (1,432.3)
Economic factors                        (34.0)         (12.8)         (46.7)
Production over the year             (1,501.1)             -       (1,501.1)
---------------------------------------------------------------------------
December 31, 2013                     9,457.0        7,262.5       16,719.5
---------------------------------------------------------------------------
(1) Gross reserves are the Corporation's working interest share before      
deduction of royalty obligations and without including any royalty      
interests.                                                             
(2) Technical revisions resulting from category changes and the removal of  
four high risk wells in the probable category.                         
(3) Columns may not add due to rounding of individual items.                
/T/ 
Capital Program Efficiency 
The following table outlines Manitok's estimate of its F&D costs per
boe and finding, development and acquisition ("FD&A") costs per
boe, excluding the change in FDC and including the change in FDC, recycle
ratios, reserves replacement and reserve life index on a TP and P+P basis. 
/T/ 
--------------------------------------------------------------------------- 
Three Year 
Weighted 
2013           2012        Average
---------------------------------------------------------------------------
Capital Expenditures (M$)                                                  
Exploration and                                                            
 Development(1)(2)                     80,598         48,419        160,290
Acquisitions/(Dispositions)            (3,412)       (12,927)        26,070
---------------------------------------------------------------------------
Total Capital Expenditures             77,186         35,492        186,360
---------------------------------------------------------------------------
Change in FDC (M$)                                                         
Total Proved                           (6,423)        24,046         26,285
Proved Plus Probable                     (377)        17,564         63,823
---------------------------------------------------------------------------
F&D and FD&A costs excluding                                               
 change in FDC                                                             
  F&D - TP(2)                          $27.52         $10.20         $18.44
  F&D - P+P(2)                         $24.00          $6.43         $10.63
  FD&A - TP(2)                         $26.36          $8.13         $16.31
  FD&A - P+P(2)                        $22.98          $5.13         $10.10
  Recycle Ratio - TP(3)                   1.2            2.5            1.8
  Recycle Ratio - P+P(3)                  1.4            4.0            3.1
---------------------------------------------------------------------------
F&D and FD&A costs including                                               
 change in FDC                                                             
  F&D - TP(2)                          $25.33         $15.26         $21.46
  F&D - P+P(2)                         $23.89          $8.77         $14.86
  FD&A - TP(2)                         $24.16         $13.64         $18.61
  FD&A - P+P(2)                        $22.87          $7.67         $13.56
  Recycle Ratio - TP(3)                   1.3            1.7            1.5
  Recycle Ratio - P+P(3)                  1.4            2.9            2.2
---------------------------------------------------------------------------
Reserve Replacement                                                        
  Total Proved                           195%           499%           435%
  Proved Plus Probable                   224%           791%           702%
Reserve Life Index (years)(4)                                              
  Total Proved                            5.2            7.1               
  Proved Plus Probable                    9.2           13.2               
---------------------------------------------------------------------------
(1) Exploration and development expenditures excludes $1.8 million (2012 -  
$1.2 million) of capitalized overhead costs.                           
(2) The aggregate of the exploration and development costs incurred in the  
most recent financial year and change during that year in estimated     
future development costs generally will not reflect total finding and   
development costs related to reserve additions for that year.          
(3) Recycle ratio is calculated as the operating netback excluding realized 
gains or losses on financial instruments divided by F&D costs.         
(4) Reserve Life Index is based on annualized fourth quarter production     
volumes.                                                                
/T/ 
The following table outlines Manitok's 2013 F&D and FD&A Costs
after removing $20.1 million of capital expenditures and excluding capitalized
overhead related to the Encana Agreement which has no associated reserves in
the 2013 Sproule Report. 
/T/ 
--------------------------------------------------------------------------- 
Excluding the change in  Including the change in 
FDC                      FDC
---------------------------------------------------------------------------
F&D - TP(1)                                 $20.67                   $18.48
F&D - P+P(1)                                $18.03                   $17.91
---------------------------------------------------------------------------
FD&A - TP(1)                                $19.51                   $17.31
FD&A - P+P(1)                               $17.01                   $16.90
---------------------------------------------------------------------------
Recycle Ratio - TP(2)                          1.6                      1.8
Recycle Ratio - P+P(2)                         1.8                      1.9
---------------------------------------------------------------------------
(1) The aggregate of the exploration and development costs incurred in the  
most recent financial year and change during that year in estimated     
future development costs generally will not reflect total finding and   
development costs related to reserve additions for that year.          
(2) Recycle ratio is calculated as the 2013 operating netback excluding     
realized losses on financial instruments of $33.07 divided by F&D       
costs.                                                                  
/T/ 
2014 Production and Operational Update 
Based on field estimates as of April 13, 2014, Manitok's aggregate
production is approximately 5,150 boe/d, which reflects the previously
announced disposition of 777 boe/d of natural gas assets that was completed on
February 28, 2014. The production estimate above includes production from the
first two Cardium wells drilled in 2014, referred to as Stolberg Cardium oil
wells number 21 and 22 in the previous press release dated February 27, 2014.
The estimated production does not include production from the last two Stolberg
Cardium oil wells drilled and tested (wells 23 and 24) and the two that are at,
or nearing the completion of drilling operations (wells 25 and 26). Of the last
four Cardium oil wells (2.0 net), it is anticipated that one oil well (0.3 net,
well 23) will be added to production before the end of April, one oil well (0.7
net, well 24) will be on production in June and the remaining two oil wells
(1.0 net, wells 25 and 26) are, or will be production tested shortly. 
Of the first four Stolberg Cardium oil wells drilled and tested in 2014 (wells
21 to 24), three (1.7 net) are either producing or anticipated to produce at
expected levels ranging between 280 to 300 boe/d per well (gross) and one well
(1.0 net) is not producing commercial quantities of oil. This non-producing
well was the first well drilled in 2014 (well 21) and was the only well drilled
into the forelimb of the Stolberg Cardium structure in 2014, whereas the other
five wells, including the two currently being tested, were drilled into the
backlimb of the structure where most of the wells in the field have been
drilled to date. Manitok is evaluating the possibility of re-entering the
non-producing wellbore (well 21) and drilling another horizontal leg deeper
into the forelimb of the structure. 
The first Quirk Creek Cardium oil well (0.7 net) was placed on production as of
April 8, 2014. The well's production will be optimized over the next few
weeks and evaluated over the next several months. The second Quirk Creek
Cardium oil well (0.7 net) encountered mechanical complications during the
completion operations. Manitok has determined a solution to the issue, but due
to spring break-up and current soft ground conditions, Manitok will not be able
to execute the operation to correct the mechanical problem until ground
conditions improve. Manitok anticipates being able to production test the well
once the corrective operation is executed. 
Manitok has drilled four vertical wells in the Entice area and is currently
drilling the fifth well of the Entice program, which is its first horizontal
well targeting the Basal Quartz (Ellerslie) formation. The completion
activities on the four vertical wells have been delayed by road bans issued
during break-up. The drilling lease for the horizontal well is located just off
of a highway where the road bans are not prohibiting Manitok from continuing
drilling operations. Manitok will issue the results of the five well Entice
drilling program once all five wells have been completed and evaluated. 
About Manitok 
Manitok is a public oil and gas exploration and development company focusing on
conventional oil and gas reservoirs in the Canadian foothills and Southeast
Alberta. The Corporation will utilize its experience and expertise to develop
the untapped conventional oil and liquids-rich natural gas pools in both the
Foothills and Southeast Alberta areas of the Western Canadian Sedimentary
Basin. 
For further information view our website at www.manitokenergy.com. 
Forward-looking Statements 
This press release contains forward-looking statements. More particularly, this
press release contains statements concerning planned capital expenditures,
planned exploration and development activities and the development and growth
potential of Manitok's properties. 
The forward-looking statements in this press release are based on certain key
expectations and assumptions made by Manitok, including expectations and
assumptions concerning the success of future drilling and development
activities, the performance of existing wells, the performance of new wells,
the successful application of technology, prevailing weather conditions and
ground conditions, commodity prices, royalty regimes and exchange rates and the
availability of capital, labour and services. 
Although Manitok believes that the expectations and assumptions on which the
forward-looking statements are based are reasonable, undue reliance should not
be placed on the forward-looking statements because Manitok can give no
assurance that they will prove to be correct. Since forward-looking statements
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
include, but are not limited to, risks associated with the oil and gas industry
in general (e.g., operational risks in development, exploration and production;
delays or changes in plans with respect to exploration or development projects
or capital expenditures; the uncertainty of reserves estimates; the uncertainty
of estimates and projections relating to production, costs and expenses; and
health, safety and environmental risks), uncertainty as to the availability of
labour and services, commodity price and exchange rate fluctuations, unexpected
adverse weather conditions and changes to existing laws and regulations.
Certain of these risks are set out in more detail in Manitok's current
Annual Information Form, which is available on Manitok's SEDAR profile at
www.sedar.com. 
Forward-looking statements are based on estimates and opinions of management of
Manitok at the time the statements are presented. Manitok may, as considered
necessary in the circumstances, update or revise such forward-looking
statements, whether as a result of new information, future events or otherwise,
but Manitok undertakes no obligation to update or revise any forward-looking
statements, except as required by applicable securities laws. 
Non-GAAP Financial Measures 
This press release contains references to measures used in the oil and natural
gas industry such as "funds from operations", "operating
netback", "funds from operations per share" and "net
debt". These measures do not have any standardized meanings prescribed by
generally accepted accounting principles ("GAAP") and, therefore
reported amounts may not be comparable measures reported by other companies
where similar terminology is used. These measures have been described and
presented in this press release in order to provide shareholders and potential
investors with additional information regarding the Corporation's
liquidity and its ability to generate funds to finance its operations. 
Funds from operations should not be considered an alternative to, or more
meaningful than, cash provided by operating, investing and financing activities
or net earnings as determined in accordance with GAAP, as an indicator of
Manitok's performance or liquidity. Funds from operations is used by
Manitok to evaluate operating results and Manitok's ability to generate
cash flow to fund capital expenditures and repay indebtedness. Funds from
operations denotes cash flow from operating activities as it appears on the
Corporation's Statement of Cash Flows before decommissioning expenditures
and changes in non-cash operating working capital. Funds from operations is
also derived from net income (loss) plus non-cash items including deferred
income tax expense, depletion and depreciation expense, exploration and
evaluation expense, impairment expense, stock-based compensation expense,
accretion expense, acquisition-related expenses, unrealized gains or losses on
financial instruments and gains or losses on asset divestitures. Funds from
operations per share denotes funds from operations divided by the weighted
average number of common shares outstanding. Operating netback denotes
petroleum and natural gas revenue and realized gain (loss) on financial
instruments less royalty expenses, operating expenses and transportation and
marketing expenses. Manitok uses net debt as a measure to assess its financial
position. Net debt includes current liabilities less current assets excluding
the current portion of the fair value of financial instruments and the deferred
premium on financial instruments. 
Reserves Data 
There are numerous uncertainties inherent in estimating quantities of crude
oil, natural gas and NGLs reserves and the future cash flows attributed to such
reserves. The reserves and associated cash flow information set forth above are
estimates only. In general, estimates of economically recoverable crude oil,
natural gas and NGLs reserves and the future net cash flows therefrom are based
upon a number of variable factors and assumptions, such as historical
production from the properties, production rates, ultimate reserves recovery,
timing and amount of capital expenditures, marketability of oil and natural
gas, royalty rates, the assumed effects of regulation by governmental agencies
and future operating costs, all of which may vary materially. For these
reasons, estimates of the economically recoverable crude oil, NGLs and natural
gas reserves attributable to any particular group of properties, classification
of such reserves based on risk of recovery and estimates of future net revenues
associated with reserves prepared by different engineers, or by the same
engineers at different times, may vary. Manitok's actual production,
revenues, taxes and development and operating expenditures with respect to its
reserves will vary from estimates thereof and such variations could be
material. 
The reserves data provided in this press release presents only a portion of the
disclosure required under NI 51-101. All of the required information will be
contained in Manitok's Annual Information Form for the year ended December
31, 2013, which will be filed on SEDAR (accessible at www.sedar.com) on or
before April 30, 2013. 
With respect to the disclosure of reserves contained herein relating to
portions of the Corporation's properties, the estimates of reserves and
future net revenue for individual properties may not reflect the same
confidence level as estimates of reserves and future net revenue for all
properties due to the effects of aggregation. 
Estimated Unaudited Year End Financial Data 
The Corporation's annual audit of its financial statements for the year
ended December 31, 2013 is not yet complete as of the date of this press
release and accordingly, all financial amounts referred to in this press
release are management's best estimates and are unaudited. In light of
this, readers are cautioned not to place undue weight on such financial
information contained in this press release. 
Barrels of Oil Equivalent 
The term barrels of oil equivalent ("boe") may be misleading,
particularly if used in isolation. Per boe amounts have been calculated using a
conversion ratio of six thousand cubic feet of natural gas (6 mcf) to one
barrel of oil (1 bbl). This boe conversion ratio of 6 mcf to 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 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. 
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 release. 
-30-
FOR FURTHER INFORMATION PLEASE CONTACT: 
Manitok Energy Inc.
Massimo M. Geremia
President & Chief Executive Officer
403-984-1751
mass@manitok.com 
INDUSTRY:  Energy and Utilities - Oil and Gas  
SUBJECT:  OEX 
-0-
-0- Apr/16/2014 00:04 GMT
 
 
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