Brownstone Energy Inc. Releases Unaudited Results for the Three and Six Months Ended December 31, 2012

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


As at December 31, 2012, the Company had cash and cash equivalents of $10.2
million as compared to $18.2 million as at June 30, 2012. Investments at fair
value totaled $2.3 million as at December 31, 2012 as compared to $2.8 million
as at June 30, 2012. Also as at December 31, 2012, exploration and evaluation
assets totaled $47.9 million as compared to $45.1 million as at June 30, 2012.


Financial Highlights for the three and six months ending December 31, 2012 with
comparatives:




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Operating Results             Three months ended          Six months ended  
 (unaudited)                         December 31,              December 31, 
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                                2012         2011         2012         2011 
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Net realized losses on                                                      
 disposal of investments $         -  $(1,631,880) $         -  $(1,823,211)
Net change in unrealized                                                    
 gains (losses) on                                                          
 investments                (674,534)   3,786,867     (962,000)   1,414,599 
Net investment gains                                                        
 (losses)                   (674,534)   2,154,987     (962,000)    (408,612)
                                                                            
Profit (loss) for the                                                       
 period                   (6,040,709)     893,858   (7,136,400)  (2,449,468)
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Basic earnings (loss)                                                       
 per share                     (0.05)        0.01        (0.05)       (0.02)
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Diluted earnings (loss)                                                     
 per share                     (0.05)        0.01        (0.05)       (0.02)
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Consolidated statements of financial position   December 31,       June 30, 
 Highlights                                             2012           2012 
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Cash and cash equivalents                      $  10,192,783  $  18,197,006 
Investments, at fair value                         2,309,469      2,771,469 
Exploration and evaluation assets                 47,921,438     45,141,148 
Total assets                                      62,440,531     67,650,272 
Total liabilities                                  3,942,180      1,150,868 
Share capital, warrants and broker warrants,                                
 contributed surplus                             120,775,594    120,550,480 
Foreign currency translation reserve              (2,018,506)      (928,739)
Deficit                                          (60,258,737)   (53,122,337)
Working Capital                                    9,975,993     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.


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