Mr. Derek Evans reports

PENGROWTH SHIPS FIRST LINDBERGH PRODUCTION ON THE HUSKY SALES LINE, REPORTS CONTINUED STRENGTH IN LINDBERGH PRODUCTION AND INTENT TO SELL UP TO $600 MILLION OF NON-CORE ASSETS

Construction and commissioning of Pengrowth Energy Corp.'s insulated sales line connecting the Lindbergh commercial facilities with the Husky pipeline have been completed on time. Production from the commercial facilities has now been tied in to the sales line, providing Pengrowth with additional transportation/marketing optionality. Pengrowth still retains the option to move production by rail to markets in an effort to maximize revenues and netbacks.

Growth in production from the Lindbergh thermal project continues to meet expectations and closely follows the performance that was established by the pilot wells over the initial months of production. Current production (five-day period ending June 28, 2015) from the project is approximately 14,400 barrels per day (bbl/d) with an instantaneous steam oil ratio of 1.99 times. Production ramp-up at Lindbergh remains on track to achieve production rates of 16,000 bbl/d by the end of the year.

As part of its emphasis on strengthening its balance sheet, the company intends to sell up to $600-million of non-core assets by the end of the year. The proceeds from the expected dispositions will be used to reduce corporate indebtedness under the company's credit facilities.

We seek Safe Harbor.