TOURMALINE OIL CORP. COMPLETES ACQUISITION OF HURON ENERGY CORPORATION, A PRIVATE NEBC MONTNEY LIQUID RICH GAS PRODUCER

CALGARY, ALBERTA – (November 30, 2012)

Tourmaline Oil Corp. (TSX: TOU) (“Tourmaline”) is pleased to announce the completion of Tourmaline’s previously announced acquisition of all of the outstanding shares of Huron Energy Corporation (“Huron”) pursuant to an arrangement under the Business Corporations Act (Alberta) (the “Arrangement”). Under the Arrangement, which was unanimously approved by all of the Huron
shareholders who voted on the Arrangement, Huron shareholders received 0.07644 of a Tourmaline common share for each Huron common share resulting in the issue of approximately 7.4 million Tourmaline common shares.

Peters & Co. Limited acted as exclusive financial advisor to Tourmaline with respect to the Arrangement.

 

ABOUT TOURMALINE OIL CORP.

Tourmaline is a Canadian intermediate crude oil and natural gas exploration and production company focused on long-term growth through an aggressive exploration, development, production and acquisition program in the Western Canadian Sedimentary Basin.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Tourmaline Oil Corp.
Michael Rose
Chairman, President and Chief Executive Officer
(403) 266-5992

OR

Tourmaline Oil Corp.
Brian Robinson
Vice President, Finance and Chief Financial Officer
(403) 767-3587; robinson@tourmalineoil.com

OR

Tourmaline Oil Corp.
Scott Kirker
Secretary and General Counsel
(403) 767-3593; kirker@tourmalineoil.com

OR

Tourmaline Oil Corp.
Suite 3700, 250 – 6th Avenue S.W.
Calgary, Alberta T2P 3H7
Phone: (403) 266-5992
Facsimile: (403) 266-5952
E-mail: info@tourmalineoil.com
Website: www.tourmalineoil.com