Mr. Derek Evans reports

PENGROWTH ENERGY CORPORATION FILES PRELIMINARY BASE SHELF PROSPECTUS

Pengrowth Energy Corp. has filed a preliminary short form base shelf prospectus with the securities regulators in each of the provinces of Canada and a corresponding registration statement with the U.S. Securities and Exchange Commission.

The prospectus will allow Pengrowth to offer and issue common shares, subscription receipts, warrants, options or rights by way of one or more prospectus supplements at any time during the 25-month period ending June, 2017, in which the base shelf prospectus is in place. The securities may be issued from time to time, at Pengrowth's discretion, with a total offering amount not to exceed $1-billion. Unless otherwise specified in a prospectus supplement relating to a particular offering of securities, Pengrowth intends to use the net proceeds of any sales of securities for general corporate purposes, repayment of indebtedness, and/or the direct or indirect financing of future growth opportunities, including acquisitions and capital expenditures.

A registration statement relating to the securities has been filed with the U.S. SEC but has not yet become effective. The securities may not be sold, nor may offers to buy be accepted, before the registration statement becomes effective and the final short form base shelf prospectus is filed. This news release shall not constitute an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

A copy of the prospectus included in the registration statement can be accessed through SEDAR and EDGAR.

We seek Safe Harbor.