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 
NEWS RELEASE TRANSMITTED BY Marketwired 
FOR: Crew Energy Inc. 
TSX SYMBOL:  CR 
MAY 30, 2014 
Crew Announces Closing of Alberta Deep Basin Asset Disposition and Expansion of
Its 2014 Montney Focused Capital Program 
CALGARY, ALBERTA--(Marketwired - May 30, 2014) - 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. 
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FOR FURTHER INFORMATION PLEASE CONTACT: 
Crew Energy Inc.
Dale Shwed
President and C.E.O.
(403) 231-8850
or
Crew Energy Inc.
John Leach
Senior Vice President and C.F.O.
(403) 231-8859
or
Crew Energy Inc.
Rob Morgan
Senior Vice President and C.O.O
(403) 513-9628 
INDUSTRY:  Energy and Utilities - Oil and Gas  
SUBJECT:  OEX 
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-0- May/30/2014 18:30 GMT
 
 
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