Big Sky Petroleum Montana Exploration Progress

Big Sky Petroleum (TSX VENTURE:BSP) has been actively assessing its Montana oil
exploration efforts in Glacier and Toole Counties and provides the following
update.


The Midboe 4-3 Well was drilled to determine the reservoir characteristics of
the Bakken, Three Forks, and Nisku formations. The well was intended to
determine the prospectiveness of the eastern flank of the Kevin Dome and the
information will be included in our revised geologic model and will influence
our future exploration efforts in the area of interest. The core from this well
is currently being evaluated and results should be received in the fourth
quarter.


The planned 81-4 Well, located in Glacier County, Montana, continues to await
permitting. The Company had planned to drill a 4,500' pilot hole to test the
Middle Bakken upon receipt of the permit which was expected in Q2. If Big Sky
decides to continue in this area after the delays due to permitting, then frac
design, stimulation and completion programs may be concluded after all well data
has been processed and evaluated.


A detailed study of the Somont 14-29 well was received in July. This report was
analyzed and a new drilling plan for the nearby 15-13 well has been completed.
Big Sky presented this report to its partners at a recent meeting in Denver and
the partners have elected not to participate in the drilling of the 15-13 well.
Big Sky is currently in the process of considering its options relating to the
lands covered by the Somont Farm-out Agreement.


Sam Nastat, President, commented that "Big Sky has spent the last few months
methodically reviewing the details of the work that we have done to date in
Montana and taken a leadership position on the joint venture projects in Montana
by commissioning the most detailed reports done to date. Big Sky also has
received several opportunities to review new projects, possibly due to its
strong balance sheet including a cash position of approximately $4.8 million
without any debt as of June 30, 2012."


Big Sky was also able to recover $682,982 (Big Sky's shares is 33% or $227,661)
through the sale of certain lands (approximately 27,283 acres, Big Sky's share
of which was 33%) in Montana that were not considered core holdings for Big Sky.


About Big Sky

Big Sky is an oil and gas exploration and development company based in
Vancouver, B.C., with its main focus on the exploration and development of oil
and gas in the Alberta Basin, commonly referred to as the Bakken source system.
Big Sky's operations cover three separate land packages in Toole and Glacier
Counties, Montana, of which Big Sky has a 33.33% interest.


Sam Nastat, President

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.