Brownstone Energy Inc. Releases Unaudited Results for the Three and Nine Months Ended March 31, 2013

Brownstone Energy Inc. (TSX VENTURE:BWN)(OTCQX:BWSOF) ("Brownstone" or the
"Company") today announces its unaudited results for the three and nine months
ended March 31, 2013.


As at March 31, 2013, the Company had cash and cash equivalents of $4.4 million
as compared to $18.2 million as at June 30, 2012. Investments at fair value
totaled $1.9 million as at March 31, 2013 as compared to $2.8 million as at June
30, 2012. Also as at March 31, 2013, exploration and evaluation assets totaled
$51.8 million as compared to $45.1 million as at June 30, 2012.


Financial Highlights for the three and nine months ending March 31, 2013 with
comparatives:




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Operating Results        Three months ended          Nine months ended      
 (unaudited)                  March 31,                   March 31,         
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                             2013          2012          2013          2012 
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Net realized losses                                                         
 on disposal of                                                             
 investments         $          -  $ (3,185,515) $          -  $ (5,008,726)
Net change in                                                               
 unrealized gains                                                           
 (losses) on                                                                
 investments             (410,312)     (662,909)   (1,372,312)      751,690 
Net investment gains                                                        
 (losses)                (410,312)   (3,848,424)   (1,372,312)   (4,257,036)
Net loss for the                                                            
 period                (1,327,113)  (21,915,937)   (8,463,513)  (24,365,405)
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Basic and diluted                                                           
 loss per share             (0.01)        (0.17)        (0.07)        (0.19)
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Consolidated statements of financial                                        
 position Highlights                        March 31, 2013    June 30, 2012 
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Cash and cash equivalents                 $      4,365,985 $     18,197,006 
Investments, at fair value                       1,899,157        2,771,469 
Exploration and evaluation assets               51,813,808       45,141,148 
Total assets                                    59,788,203       67,650,272 
Total liabilities                                1,545,230        1,150,868 
Share capital, warrants and broker                                          
 warrants, contributed surplus                 120,900,233      120,550,480 
Foreign currency translation reserve            (1,071,410)        (928,739)
Deficit                                        (61,585,850)     (53,122,337)
Working Capital                                  5,815,743       20,793,675 
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Brownstone is currently participating in several oil and gas exploration
projects based in Colombia, Israel, United States (Colorado/Utah and Oregon),
and Argentina. On May 7, 2013, the Company announced the proposed sale of its
25% private participating interest in the Canaguaro Block (Colombia) for gross
proceeds of US$6,000,000. The sale is expected to be completed in June, subject
to the satisfaction of certain closing conditions.


About Brownstone 

Brownstone Energy Inc. is a Canadian-based, energy focused company with direct
interests in oil and gas exploration projects, including varying interests in
three off-shore Israel concessions and in four Colombian blocks in the Llanos
basin, as well as other oil and gas interests worldwide. By owning and managing
a diversified portfolio of energy-based projects, Brownstone provides
shareholders with a unique energy alternative. For additional information,
please see Brownstone's website: www.brownstoneenergy.com.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Brownstone Energy Inc.
Jonathan Schroeder, P. Geoph.
President and COO
[phone]
[e-mail]


Brownstone Energy Inc.
Gerry Feldman, CPA, CA
Chief Financial Officer
[phone]
[e-mail]


Brownstone Energy Inc.
Richard Patricio
Vice-President Corporate and Legal Affairs
[phone]
[e-mail]
www.brownstoneenergy.com