Mr. Wolf Wiese reports

SUPER NOVA TO PARTICIPATE IN SOUTHERN ALBERTA BAKKEN PLAY WELL

Super Nova Petroleum Corp. has reached an agreement with Augusta Exploration LLC of Montana, for Super Nova to participate in a Southern Alberta Bakken play oil and gas test well.

Augusta is a Montana-based oil and gas firm owned by Summit Exploration LLC, led by Kory McGavin, and North-Dakota Development LLC, led by Robert Gavin and Daniel Hogan.

The well is to be drilled on the same well site as the Krone Shell well drilled in 1962 in Section 32 of Township 18N Range 5W. The company's observation is that the Krone Shell well logs have similar data to several Elm Coulee logs; these wells have produced commercially viable hydrocarbons.

The company will earn a 20-per-cent working interest in this well by issuing seven million common shares, and five million warrants exercisable at 10 cents per share for the first year and 15 cents per share for the second year. The common shares and warrants will be escrowed and turned over once the well has been drilled, and the Bakken formation has been logged and cored. Fifty per cent will go to Summit Exploration LLC, and the remaining 50 per cent will go to North-Dakota Development LLC.

This well will be drilled, financed and operated by Augusta Exploration LLC. The Krone Shell well is located in Lewis and Clark county in northwest Montana on the Bakken fairway, approximately three miles southwest of the company's 12,000-acre, farm-in lands and 100-per-cent-owned Milford-East lands. The well will be logged and cored to test the Bakken formation expected at 7,000 feet vertical, and the shallow Eagle/Virgelle formation will be tested for natural gas expected to be at 1,400 feet to 3,000 feet of vertical depth. Augusta Exploration will apply for all required approvals from Montana Board of Oil and Gas, along with the bonding requirements immediately postregulatory approvals.

In the event commercial hydrocarbons are encountered in this well, confidence of discovery of commercial hydrocarbons on the nearby company's land position will increase significantly. Mr. McGavin, chief executive officer of Summit Exploration LLC, and Marcus Miller, chief operating officer of Summit Exploration and co-manager of Augusta Exploration, have expressed their enthusiasm of combining the talent of the companies for this joint venture.

Southern Alberta Bakken play and Krone Shell well

The Bakken oil boom began with Elm Coulee oil field on the eastern side of Montana in 2000, when Lyco Energy Resources re-entered nine old wells and completed them in the Bakken formation. In 2006, the Parshall oil field in North Dakota was discovered by observing an old well log in that area that had Bakken formation, which looked very similar to the Elm Coulee logs. North Dakota has since produced 813 million barrels of oil from the Bakken formation through December of 2013.

The emerging Alberta Bakken play extends from Canada down through the western side of Montana to where the company has its leased lands. The prolific Williston basin Bakken play was the eastern side of a shallow sea. The currently emerging Alberta basin Bakken play was the western side of that same sea.

The Shell Krone well was drilled in 1962, before the so-called shale revolution of the last decade. Thus, while encountered and logged in 1962 by Shell, the Bakken formation was simply ignored then, despite cuttings of the rock showing oil. With the application of modern drilling and completion techniques, the upcoming well may prove the viability of the southern portion of the Alberta Bakken play.

A few key attributes of the Krone Shell well:

• The Bakken is relatively shallow here. In the Krone well, the Bakken is at 6,896 feet as compared with 9,000 feet to 11,000 feet in the Williston basin, which the company expects will translate to less expensive wells.
• In the Krone Shell well, 70 feet of Bakken formation was encountered with a well-developed middle member Sappington formation that was 30 feet thick. These benchmarks compare favourably with the Williston basin, where viable Bakken wells can have thickness in the range of 40 feet to 50 feet and middle member thickness of 10 feet to 15 feet.
• Resistivity of 400 ohms observed in the Krone Shell well indicates hydrocarbons. The Krone well is located in the prime thermal maturity zone, where vitrinite reflectance (Ro) is between 0.7 per cent and 1.5 per cent. This is where oil generation in the Bakken is at its highest level.
• The well site and surrounding acreage are largely gentle rolling hills and farmlands, easily accessible and serviced by highways.
• Northwest Energy gas pipeline is located approximately 10 miles to the northwest from the Krone Shell well, traversing Super Nova Milford-East acreage. This nearby natural gas infrastructure is of utmost importance in the event that commercial gas is discovered.

Hydrocarbons may not be discovered, and, if present, they may not be commercially viable.

We seek Safe Harbor.