An anonymous director reports

FAIRWEST OBTAINS EXTENSION UNDER CCAA AND ANNOUNCES APPOINTMENT OF CHIEF RESTRUCTURING OFFICER

FairWest Energy Corp. obtained an order on May 28, 2013, from the Court of Queen's Bench of Alberta, extending the stay of proceedings granted to FairWest under the Companies' Creditors Arrangement Act (CCAA) to July 3, 2013.

The May 28, 2013, order also provides for an increase in maximum amount available under the debtor-in-possession financing facility with Supreme Group Inc. to $1,765,000.

FairWest also announces that its board of directors has resigned. As a result of the resignation of the directors, the May 28, 2013, order grants PricewaterhouseCoopers Inc., the court-appointed monitor of FairWest, additional powers to, among other things, select the successful bid from amongst the bids submitted pursuant to the sale and investment solicitation process set out by order of the court dated March 19, 2013, and oversee and direct the completion of the transaction contemplated by the successful bid.

FairWest also announces that Doug McNichol has resigned as president and chief operating officer of FairWest. FairWest thanks Mr. McNichol for his service and contribution to FairWest, particularly during the CCAA proceedings, and wishes him all the best in his future endeavours. In addition, Marion Mackie has resigned as chief financial officer of FairWest; however, pursuant to the May 28, 2013, order, Mrs. Mackie has been appointed as the chief restructuring officer for FairWest. The chief restructuring officer is authorized to operate and carry on the business of FairWest during the CCAA proceedings.