Mr. Ian Peres reports

EARLY WARNING REPORT FILED PURSUANT TO NATIONAL INSTRUMENTS 62-103

Ian C. Peres has acquired a total of 4,805,850 common shares of Resolve Energy Inc. from Andre Proulx, the executive chairman of Resolve Energy Inc.

Following the transaction, Mr. Peres now holds control and direction over an aggregate of 6,105,850 shares and 600,000 incentive stock options, representing 16.7 per cent of the issued and outstanding shares on a non-diluted basis and 18.4 per cent of the issued and outstanding common shares on a partially diluted basis. Prior to the private transaction, Mr. Peres, president and chief executive officer of Resolve, directly and indirectly, held 1.3 million common shares and 600,000 incentive stock options.

Following the transaction, Mr. Proulx now holds control and direction over an aggregate of 4,830,321 shares and 200,000 incentive stock options, representing 13.2 per cent of the issued and outstanding shares on a non-diluted basis and 13.8 per cent of the issued and outstanding common shares on a partially diluted basis. Prior to the private transaction, Mr. Proulx, executive chairman of Resolve, directly and indirectly, held 9,636,171 common shares and 200,000 incentive stock options.

All securities of Resolve controlled by Mr. Peres and Mr. Proulx are held for investment purposes. In future, they may acquire and/or dispose of securities of Resolve through the market, directly or indirectly, privately, or otherwise, as circumstances or market conditions may warrant.

This press release is issued pursuant to the early warning requirements of National Instrument 62-104 (Take-Over Bids and Issuer Bids) and National Instrument 62-103 (the Early Warning System and Related Take-Over Bid and Insider Reporting Issues).

A copy of the early warning report to be filed by Mr. Peres and Mr. Proulx in connection with the transaction will be available on the issuer's SEDAR+ profile once it has been filed in accordance with applicable securities laws.