Mr. Darren Moulds reports

ALPINE COMMENCES VOLUNTARY CHAPTER 11 PROCESS

Alpine Summit Energy Partners Inc. (certain affiliates and related companies), after evaluating a variety of strategic alternatives, has filed for voluntary Chapter 11 relief in the U.S. Bankruptcy Court for the Southern District of Texas, Houston division, and intends to conduct a sale of its assets pursuant to Section 363 of the U.S. Bankruptcy Code. The company entered Chapter 11 with a commitment for $15.5-million in debtor-in-possession financing, provided by its existing bank group, to support its operations during the sale and reorganization process. The debtors have also filed various first-day motions with the bankruptcy court, providing customary relief that will enable it to continue operating in bankruptcy without meaningfully disrupting its normal course of operations.

The company is advised in this matter by Porter Hedges LLP as counsel, Houlihan Lokey Capital Inc. as investment banker, and Huron Consulting Group, which is serving as financial adviser and providing chief restructuring officer services.

Stakeholders with questions may call the company's claims agent, Kroll Restructuring Administration LLC, at 844-219-3705 or 646-440-4844 if calling from outside of the United States or Canada, or e-mail AlpineInfo@ra.kroll.com.

Trading on the TSX Venture Exchange will be suspended during the Chapter 11 process. The company cautions that trading in the company's securities during the pendency of the Chapter 11 process is highly speculative and poses substantial risks. Trading prices for the company's securities may bear little or no relationship to the actual value realized, if any, by holders of the company's securities. Accordingly, the company urges extreme caution with respect to existing and future investments in its securities.

About Alpine Summit Energy Partners Inc.

Alpine Summit is a United States-based company that operates and develops oil and gas assets.

We seek Safe Harbor.