Bengal Energy Ltd. announced that the company and its joint venture parties have successfully completed the previously announced hydraulic stimulation program on ATP 752 Barta Block (Bengal's working interest is 30.357%). The hydraulic stimulation campaign has exceeded Bengal's technical and commercial expectations. Four of the five wells have now been placed back into production demonstrating an aggregate incremental rate of over 200 gross barrels of oil per day ("bopd") or 61 bopd net to Bengal.

Average gross production from the Cuisinier field in October 2015, prior to the shut-in of the five programmed wells, was approximately bopd (bopd net to Bengal). Cuisinier 14, the fifth well stimulated as a part of the program, is expected to undergo post stimulation production testing in January 2016. The company's strong net-backs continue to provide cash flow of approximately CAD 4.75 per bbl at the current Brent price of USD 28 per bbl, before hedging and corporate overhead.

Including the contribution from Bengal's hedge, field operating netback increases to CAD 39 per bbl, giving the Company confidence that it can continue to grow in these difficult times. ATP 732 Tookoonooka: the company's previously announced farm-in partner on ATP 732 has informed Bengal of their decision to withdraw from the farm-in and re-assign their 50% equity back to Bengal. The farm-in partner drilled one well (Tangalooma-1) and completed the acquisition of 300 km2 of 3D seismic (Nassarius 3D).

In the current oil price environment, the size and perceived risk of the prospects identified did not meet necessary thresholds for the farm-in partner to continue with the work program. The company will now retain a 100% working interest in this 2,648 km2 permit on the eastern flank of the Cooper Basin. There are no remaining commitments on this permit until the expiry of the Tookoonooka Phase 1 work program in March of 2017, at which time the Phase 2 work program will be considered.