Mr. Dallas Duce reports

3MV ENERGY ANNOUNCES YEAR-END 2014 RESULTS

3MV Energy Corp. has released its financial and operating results for the year ended Dec. 31, 2014. 3MV's audited financial statements and related management's discussion and analysis for the year ended Dec. 31, 2014, 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 2014 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 for fiscal 2014:

Financings:

• Closing of a secured drawdown facility term loan in the amount of $2-million from a corporation controlled by the control person of 3MV Energy. The proceeds of the loan were used to finance the corporation's capital spending during the period, as well as for general corporate purposes.
• Closing of a secured loan facility whereby the corporation may borrow up to $10-million made available in two advances. On Nov. 5, 2014, the corporation drew down $6-million of the facility and issued the warrants associated with the first tranche of the loan. As part of the use for these funds, the $622,000 credit facility was repaid in full. The corporation used funds from the facility to finance its capital spending.

Operations:

• Entering into a joint venture agreement with an arm's-length private company to form a joint venture to drill, develop and exploit its Fiske area property in southwest Saskatchewan. The JV partner agreed to spend $5-million on the property to earn a 50-per-cent working interest in the Fiske. The JV allows the corporation to derisk the Fiske play with less corporate exposure and provides the corporation with access to an experienced technical team, which will aid in exploiting the assets. During fourth quarter 2014, the joint venture partner earned its working interest after expending $5-million on the Fiske property.
• Disposition of a land package in its Dodsland area with corresponding production, related inventory and equipment within the property for a purchase price of $4.35-million less customary adjustments. The net proceeds from the sale were applied to reduce 3MV Energy's corporate liabilities, as well as for joint venture capital drilling. The sale of these assets advances the corporation's goal of reducing its debt load and further focuses its development strategy on its Fiske area Viking property in west-central Saskatchewan.
• Drilling of 15 oil wells and the completion and tie-in of a previously drilled 16th oil well. The drilling operations were performed in two phases. Phase 1 drilling took place between third quarter and fourth quarter of 2014 and comprised the drilling of six horizontal oil wells. The program had a 100-per-cent success rate and garnered successful production results. Phase 2 drilling took place in late November, 2014, and was composed of eight horizontal oil wells and one vertical oil well. The program was focused on step-out exploratory locations, which rendered varying results. The results of phase 2 are currently being analyzed to identify its future drilling strategy.
• During December, 2014, and into early 2015, the corporation, along with its JV partner, acquired further prospective land locations at its Fiske play. 3MV Energy now holds over 65 gross contiguous sections of land in its Fiske core area.

                               OPERATING AND FINANCIAL HIGHLIGHTS

                                                      Three months ended              Year ended      
                                                Dec. 31, 2014  Dec. 31, 2013  Dec. 31, 2014  Dec. 31, 2013
Average daily production
Crude oil and NGL (bbl/d)                               142.3           75.5           87.9           86.0
Natural gas (Mcf/d)                                      22.2           78.3           48.7          109.2
Total (boe/d)                                           146.0           88.5           96.0          104.2
Average sales prices
Crude oil and NGL ($/bbl)                              $65.92         $82.73         $83.59         $88.04
Natural gas ($/Mcf)                                      3.31           3.30           4.55           2.92
Operating netbacks ($/boe)
Average realized sales price                            64.79          73.46          78.83          75.73
Royalty expense                                          2.62           1.26           3.70           4.16
Operating and transportation expense                    23.69          40.15          34.06          31.65
Operating netback                                       38.49          32.05          41.08          39.92

($000s, except per-share numbers)
Petroleum and natural gas revenues,
before royalties                                         $870           $598         $2,763         $2,880
Funds generated by operations                             (36)           (63)           (96)           0.7
Per share -- basic and diluted                          (0.00)         (0.00)          0.00           0.00
Net earnings (loss)                                    (7,811)           259        (12,602)        (1,639)
Per share -- basic and diluted                          (0.15)          0.01          (0.25)         (0.03)

Outlook

3MV Energy intends to focus its drilling and production efforts on its Fiske core asset for 2015 and into the future. In early 2013, the corporation acquired a significant position of land in the area, which has solidified its asset base and creates potential for further growth and expansion through the drill bit.

In the current environment of depressed global commodity prices, the corporation plans to be conservative moving forward, working to conserve cash flow and to select drilling locations that are economically viable. The corporation plans to work with its joint venture partner to evaluate production results at Fiske with the goal of creating a long-term exploitation strategy. 3MV Energy is also exploring potential accretive acquisitions, mergers and farm-in opportunities in Saskatchewan that are arising from the current economic state.

We seek Safe Harbor.