Mr. Curtis Schoenfeld reports

3MV ENERGY ANNOUNCES YEAR-END 2012 RESULTS

3MV Energy Corp. has released its financial and operating results for the year ended Dec. 31, 2012. 3MV's audited financial statements and related management's discussion and analysis for the year ended Dec. 31, 2012, have been filed and are available on the SEDAR website and on the company's website.

3MV is also pleased to announce the results of its year-end 2012 reserves evaluation by Sproule Associates Ltd., an independent reserves evaluator, for 100 per cent of 3MV's oil and gas properties, prepared in accordance with National Instrument 51-101 (standards of disclosure for oil and gas activities) and the Canadian oil and gas evaluation handbook.

3MV announces the following highlights:

Debt repayment:

• Total repayment of operating loan facility and subordinated credit facility, which amounted to $6-million plus any accrued interest.

Financings:

• Closing of a non-brokered private placement of 20 million units at a price of 25 cents per unit for gross proceeds of $5-million; a director of the corporation was the sole subscriber to the offering and became a new control person as defined in the TSX Venture Exchange;
• Closing of a $1-million non-brokered private placement financing of convertible debentures; a director of the corporation is the sole subscriber for the convertible debenture;
• Closing of a series of non-brokered private placement issuances of 1.94 million units for gross proceeds of $485,000;
• Conversion of $1,477,550 in trade debt relating to trade and professional services into 5,910,209 common shares and 5,148,641 warrants;
• Obtaining of a loan facility of up to $1-million; an initial drawdown of $500,000 was made at year-end.

Operations:

• The exchange of 3MV shares and warrants for 1696704 Alberta Ltd. shares and warrants resulted in 3MV reacquiring a 75-per-cent working interest in two wells drilled by 1696704 Alberta on Dec. 19, 2012.
• Work began on completion of the two wells drilled by 1696704 Alberta in the company's Fiske asset play in the fourth quarter of 2012.
• The company drilled an infill well in the Fiske area at the end of December, 2012. The well is still awaiting completion.
• Subsequent to Dec. 31, 2012, the corporation completed the acquisition of assets in its core Fiske area. The land acquired is subject to the current farm-in agreement and includes 18 additional sections. Following the completion of the transaction, 3MV owns a high working interest in 53 sections of land in the Fiske play of west-central Saskatchewan. The acquisition is financed through a $2-million non-brokered private placement financing of convertible debentures.

                                         OPERATING AND FINANCIAL HIGHLIGHTS

                                                        Three months     Two months   Twelve months   Eight months
                                                               ended          ended           ended          ended
                                                       Dec. 31, 2012  Dec. 31, 2011   Dec. 31, 2012  Dec. 31, 2011
Average daily production
Crude oil and NGL (bbl/d)                                       85.1          213.1           133.4          152.7
Natural gas (Mcf/d)                                            140.3          281.9           223.0          293.4
Total (boe/d)                                                  108.5          260.0           170.5          201.6
Average sales prices
Crude oil and NGL ($/bbl)                                     $75.70         $95.03          $78.54         $87.83
Natural gas ($/Mcf)                                             3.04           2.84            1.86           3.29
Operating netbacks ($/boe)
Average realized sales price                                   63.31          80.94           63.85          74.70
Royalty expense                                                10.54          15.35            7.74          10.11
Operating and transportation expense                           35.66          27.06           27.84          26.84
Operating netback (1)                                          17.11          38.53           28.26          37.75

($000s, except per-share numbers)
Petroleum and natural gas revenues, before royalties            $632         $1,284          $3,974         $3,687
Funds generated by operations (2)                               (633)        (1,050)         (2,217)          (597)
Per share -- basic and diluted (4)                             (0.02)         (1.63)          (0.12)         (1.27)
Net earnings (loss)                                           97,046        (12,686)         (4,677)       (13,944)
Per share -- basic and diluted (3) (4)                          0.00         (19.73)          (0.26)        (29.72)

(1) Operating netbacks (calculated on a per-unit basis as oil, gas and natural gas liquids revenues, less
royalties, transportation and operating costs) is not a recognized measure under international financial
reporting standards.  
(2) Funds generated by operations is not a prescribed IFRS or generally accepted accounting principles 
measure and is calculated as oil, gas and natural gas liquids revenues, less royalties, operating costs, 
general and administrative expenses, interest expense, and current income taxes on a per-unit basis 
multiplied by the total number of barrels produced in the period. This is not a recognized measure under 
IFRS.
(3) Net earnings (loss) per share is calculated using weighted-average shares outstanding. 
(4) In accordance with IFRS, the corporation revised the amount of weighted-average shares outstanding 
during the two and eight months ended Dec. 31, 2011. As there was a one-to-10-share consolidation 
in the current period, the comparative periods have been adjusted accordingly.  

Operations update

3MV participated in the drilling of three wells during fourth quarter 2012. 3MV experienced similar performance on the first well comparable with the company's type curve. The second well drilled has operational issues, which the company is working to solve. The company began drilling the third well before year-end, and, based on preliminary testing, the well has good geological shows and is awaiting financing for completion.

Outlook

3MV Energy intends to focus its drilling and production efforts on its highly productive Fiske light oil discovery for 2013. In early 2013, the company acquired 53 sections of land in the area, which has solidified its asset base and creates potential for further growth and expansion through the drill bit. The company will continue to explore financing opportunities, debt arrangements and joint ventures in 2013 to build on shareholder value. The company will also continue its focus on cost reductions to optimize operational margins and cash flow.

We seek Safe Harbor.