Big Sky Petroleum Corporation: Update on Drilling at the Glacier Bakken Project in the Southern Alberta Basin, Montana

Big Sky Petroleum Corporation (TSX VENTURE:BSP) - 



--  Well 14-29 - horizontally drilled and cased awaiting fracture
    stimulation 
--  Well 15-13 - drilled and cased vertically awaiting a horizontal
    completion 
--  Well 81-3 - drilled vertically and stimulated confirming presence of oil



Big Sky Petroleum Corporation (formerly Fox Resources Ltd.) is pleased to
provide an update on the Company's Glacier Project in NW Montana, USA.


The Company and its two partners, FX Energy (FXEN) and American Eagle Energy
(AMZG), have completed drilling and casing a horizontal sidetrack from the
group's previously drilled vertical test, of well 14-29, in Toole County,
Montana. Good oil and gas shows were noted throughout the drilling of the
horizontal section. The approximate 4,100 feet lateral section targeted the
Bakken Formation and was cased with a 4.0" liner equipped with 26 stimulation
sleeves. A multi-stage fracture stimulation is currently slated for December.


The group has also completed the drilling of the vertical section of the Big Sky
Operating 15-13 in Toole County. The 15-13 was cored and logged in three
prospective sections of the Bakken Source System with noted visual oil shows in
all three sections. The 15-13 has been cased awaiting further drilling and
completion operations that will be conducted based on evaluation results and
would likely include targeting the most prospective of the multiple pay zones
with a horizontal sidetrack in Q1 2012.


Big Sky is working with it partners to determine the next drilling location to
advance the Bakken project in the Southwest Cut Bank Sand Unit. The SWCBSU 81-3
in Glacier County was a vertical deepening of an existing well designed to cost
effectively evaluate the various prospective zones within the Bakken Source
System. The SWCBSU 81-3 strat test well confirmed the presence of oil in the
target zones following a small stimulation of multiple zones in the well.
Further drilling plans currently being evaluated will likely include a vertical
pilot well with a horizontal lateral in the vicinity of the 81-3 and targeting
one of the multiple oil-bearing zones in early Q1 2012.


Milton Cox, the Company's Chief Executive Officer commented, "Big Sky's
management and technical team are greatly encouraged by the results we have
seen. Confirming oil in the Cut Bank field area on the west flank of the Kevin
Dome, documenting strong oil shows in the horizontal leg of the 14-29 and the
very promising results from the 15-13 wells located on the central portion of
the dome further confirms the potential of the Bakken/Three Forks on Big Sky's
leasehold. We look forward to significantly advancing the project evaluation on
both our Dome and Basin acreage adjacent to the Newfield and Rosetta indicated
discoveries. We remain on target to position Big Sky as a major participant in
this exciting and rapidly evolving play."


About Big Sky

Big Sky is an oil and gas exploration and development company based in Billings,
Montana, with its main focus primarily on the exploration and development of oil
and gas in the Alberta Basin, commonly referred to as the Bakken source system.
Big Sky has amassed a vast geological library identifying Bakken source system
members. Accordingly, all leases acquired by Big Sky have been selected based on
the analysis of geological data accumulated over the past several years. Big
Sky's success in acquiring its leasehold interests has resulted in Big Sky
becoming a significant player in the Montana Alberta Basin's emerging Bakken
play. Other oil and gas companies active in Montana include Quick Silver
Resources, Rosetta Resources, Newfield Exploration and Crescent Point Energy. To
date, Big Sky owns a 33.333% working interest in approximately 100,000 net acres
in Toole and Glacier counties, Montana.


The Company currently has 60,676,665 common shares issued and outstanding.

On behalf of the Board,

Milton Cox, Chief Executive Officer & Director

This press release contains "forward-looking information". Such forward-looking
statements reflect our current views with respect to future events and are
subject to certain risks, uncertainties and assumptions, including, the risks
and uncertainties outlined in our most recent financial statements and reports
and registration statement filed with the Canadian securities administrators
(available at www.sedar.com). Should one or more of these risks or uncertainties
materialize, or should underlying assumptions prove incorrect, actual results
may vary materially from those anticipated, believed, estimated or expected.