Crew Announces Closing of Alberta Deep Basin Asset Disposition and Expansion of Its 2014 Montney Focused Capital Program

Crew Announces Closing of Alberta Deep Basin Asset Disposition and Expansion of 
Its 2014 Montney Focused Capital Program 
CALGARY, ALBERTA -- (Marketwired) -- 05/30/14 --   Crew Energy Inc.
(TSX: CR) ("Crew" or "the Company") is pleased to announce that it
has closed its previously announced disposition of certain petroleum
and natural gas assets (75% natural gas) focused primarily in the
Deep Basin of Alberta, with an effective date of April 1, 2014. Full
details regarding the disposition and concurrent acquisition of
strategic Montney acreage were contained in Crew's press release
dated April 9, 2014. 
Consideration for the disposition totaled approximately $222 million
in cash, before closing adjustments, plus approximately 400 bbls per
day of heavy oil production in the Company's Lloydminster area. This
transaction provides Crew with an additional and non-dilutive source
of funding to accelerate its five year Montney growth plan. 
With the closing of this transaction, Crew has expanded its 2014
exploration and capital program by $39 million to $285 million which
will be directed to continued acceleration of the Company's core
Montney development. 
Crew is a Calgary, Alberta based oil and gas exploration, development
and production company whose shares are traded on the Toronto Stock
Exchange under the trading symbol "CR". For further information about
Crew, please visit the Company's website at www.crewenergy.com. 
Contacts:
Crew Energy Inc.
Dale Shwed
President and C.E.O.
(403) 231-8850 
Crew Energy Inc.
John Leach
Senior Vice President and C.F.O.
(403) 231-8859 
Crew Energy Inc.
Rob Morgan
Senior Vice President and C.O.O
(403) 513-9628
 
 
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