Spartan Exploration Ltd. Announces Completion of Acquisition of Aztek Energy Ltd. and Listing of Spartan Shares on the Toronto S

Spartan Exploration Ltd. ("Spartan") (TSX:SPE) is pleased to announce that the
acquisition of all of the issued and outstanding common shares ("Aztek Shares")
of Aztek Energy Ltd. (TSX VENTURE:AZT.H) ("Aztek") on the basis of 0.0805 of a
common share of Spartan (a "Spartan Share") for each 1.0 Aztek Share by way of a
plan of arrangement (the "Arrangement") has been successfully completed. The
Spartan Shares will commence trading on the Toronto Stock Exchange on or about
January 21, 2010, under the trading symbol "SPE". In connection with the
completion of the Arrangement, the Aztek Shares shall be delisted from the TSX
Venture Exchange. GMP Securities L.P. and Clarus Securities Inc. acted as
strategic advisors to Spartan with respect to the Arrangement.


The net proceeds of the previously announced bought deal private placement (the
"Brokered Financing") of subscription receipts of approximately $14.6 million
and the gross proceeds of the non-brokered private placement of subscription
receipts of approximately $600,000 (collectively, the "Subscription Receipts")
of Aztek (collectively, the "Offerings") have been released to Spartan in
connection with the completion of the Arrangement. The Brokered Financing was
completed through a syndicate of underwriters co-led by GMP Securities L.P. and
Clarus Securities Inc., and including CIBC World Markets Inc., Research Capital
Corporation, Macquarie Capital Markets Canada Ltd., FirstEnergy Capital Corp.
and Captus Partners Ltd.


Each Subscription Receipt was deemed to be exercised immediately prior to the
effective time of the Arrangement, without the payment of any additional
consideration and without any further action on the part of the holder thereof,
for one Aztek Share, which Aztek Shares were exchanged under the Arrangement for
Spartan Shares on the same basis as all other Aztek Shares, being 0.0805 of a
Spartan Share for each Aztek Share. The net proceeds of the Offerings will be
used by Spartan to fund ongoing exploration and development activities and for
general corporate purposes.


After the completion of the Arrangement, Spartan has 28,092,766 Spartan Shares,
options to acquire 1,848,878 Spartan Shares and performance warrants to acquire
4,848,264 Spartan Shares issued and outstanding.


About Spartan

Spartan, a public company based in Calgary, Alberta, has been engaged in the
business of acquiring crude oil and natural gas properties and exploring for,
developing and producing oil and natural gas in western Canada since mid 2008.
Spartan is uniquely positioned with a significant position in each of the three
leading oil resource plays in western Canada, being the Bakken light oil
resource play in southeast Saskatchewan, the Lower Shaunavon medium gravity oil
resource play in southwest Saskatchewan and the Cardium light oil play in
central Alberta.


READER ADVISORY

Statements in this joint press release contain forward-looking information.
Readers are cautioned that assumptions used in the preparation of such
information may prove to be incorrect. Events or circumstances may cause actual
results to differ materially from those predicted, a result of numerous known
and unknown risks, uncertainties, and other factors, many of which are beyond
the control of Spartan. These risks include, but are not limited to; the risks
associated with the oil and gas industry, commodity prices and exchange rate
changes. Industry related risks could include, but are not limited to;
operational risks in exploration, development and production, delays or changes
in plans, risks associated to the uncertainty of reserve estimates, health and
safety risks and the uncertainty of estimates and projections of production,
costs and expenses and access to capital. The risks outlined above should not be
construed as exhaustive. The reader is cautioned not to place undue reliance on
this forward-looking information. Spartan does not undertake any obligation to
update or revise any forward-looking statements except as expressly required by
applicable securities laws.


This press release does not constitute an offer to sell or a solicitation of an
offer to buy any of the securities described herein. The securities have not
been and will not be registered under the United States Securities Act of 1933,
as amended (the "U.S. Securities Act"), or any state securities laws and may not
be offered or sold within the United States or to United States Persons unless
registered under the U.S. Securities Act and applicable state securities laws or
an exemption from such registration is available.


The Toronto Stock Exchange has not reviewed, nor does it accept responsibility
for the adequacy or accuracy of this release.