Mr. Greg Busby reports

WESCAN ENERGY ANNOUNCES PROPOSED ACQUISITION OF OIL AND GAS PROPERTIES IN CENTRAL ALBERTA

Wescan Energy Corp. has signed a purchase and sale agreement with an arm's-length major exploration and production company to acquire oil and gas properties in Alberta producing approximately 100 barrels of oil equivalent per day (65 per cent oil and natural gas liquids and 35 per cent natural gas) for an aggregate purchase price of $2,346,500. The purchase price will be satisfied by a cash payment in the amount of $2-million (subject to standard closing adjustments) and the issuance of 2.1 million units of the corporation at a deemed value of 6.5 cents per unit. Each unit will be composed of one common share of Wescan and one common share purchase warrant, with each warrant entitling the vendor to purchase an additional common share at a price of 10 cents per share exercisable for a period of two years from the closing date. Wescan expects to finance the cash portion of the purchase price through a combination of existing cash, bank debt and equity/debt financing, the details of which will be announced at a later date. The acquisition is expected to close on or before Nov. 30, 2014, with an effective date of Sept. 1, 2014.

Under the acquisition, Wescan will purchase the working interests of the vendor in certain assets in the Carrot Creek, Windfall and Three Hills Creek areas of central and Southern Alberta.

The Carrot Creek property is located in central Alberta, where Wescan will acquire working interests in three producing units and several non-unitized wells. Production is both operated and non-operated, and all wells are producing from the Cardium formation.

The Windfall property is located in central Alberta, where Wescan will acquire a significant working interest in a non-operated, long-life, multizone, liquids-rich producing natural gas well.

The Three Hills Creek property is located in Southern Alberta. Wescan will acquire various non-operated working and royalty interests in wells producing oil, gas and associated liquids.

The summary of net working interest and the summary of royalty reserves associated with the acquisition are described in the attached table.

               NET WORKING INTEREST AND ROYALTY RESERVES 

                              Carrot Creek     Windfall     Three Hills 
 
Oil and NGLs (Mbbl)
Proved developed producing           161.4          6.2            15.9
Proved undeveloped                      --           --              --
Total proved                         161.4          6.2            15.9
Probable developed producing          55.6          1.4             5.3
Probable undeveloped                  41.2           --              --
Total probable                        96.8          1.4             5.3
Total proved plus probable           258.2          7.6            21.2
Sol'n and non-associated gas (MMcf)
Proved developed producing           139.2          366             274
Proved undeveloped                      --           --              --
Total proved                         139.2          366             274
Probable developed producing          47.0           79              67
Probable undeveloped                    --           --              --
Total probable                        47.0           79              67
Total proved plus probable           186.2          445             341
Grand total (Mboe)       
Proved developed producing           184.6         67.2            61.6
Proved undeveloped                      --           --              --
Total proved                         184.6         67.2            61.6
Probable developed producing          63.4         14.6            16.5
Probable undeveloped                  41.2           --              --
Total probable                       104.6         14.6            16.5
Total proved plus probable           289.2         81.8            78.1
Net present value before 
tax discounted at 10% ($k)
Total proved                      $2,257.1       $678.9          $735.0
Total probable                     1,238.2        101.4           172.2
Total proved plus probable         3,495.3        780.3           907.2
 
Notes:
The reserves evaluations were each conducted by McDaniel & 
Associates Consultants Ltd. for the vendor, each with an
effective date of Dec. 31, 2013, but including a mechanical 
update as at April 1, 2014. The evaluations were prepared in 
accordance with National Instrument 51-101 (standards of disclosure 
for oil and gas activities) relying on the Canadian oil
and gas evaluation handbook reserves definitions. It should be 
noted that these evaluations were extracted from the larger 
corporate evaluation for the vendor but confirmed to be 
reasonable by Wescan based on supplementary due diligence.

McDaniel utilized its April 1, 2014, forecast prices for the mechanical update.

It should not be assumed that the estimates of the present value of future net revenues before tax presented in the attached table represent the fair market value of the reserves. There can be no assurance that the forecast price and cost assumptions contained in the McDaniel reports will be consistent with actual prices and costs, and variances could be material.

The completion of the acquisition is subject to a number of conditions, including receipt of all required regulatory approvals, including approval of the TSX Venture Exchange.

We seek Safe Harbor.