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DEI

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Share Name Share Symbol Market Type
TSXV:DEI TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Donnybrook Reports Fiscal Year-End Reserves at December 31, 2013

03/02/2014 9:33pm

Marketwired Canada


Donnybrook Energy Inc. ("Donnybrook" or the "Company") (TSX VENTURE:DEI) reports
the results of its December 31, 2013 Reserves Assessment and Evaluation of
certain of its Alberta oil and gas properties, as evaluated by GLJ Petroleum
Consultants ("GLJ") in accordance with National Instrument 51-101 - Standards of
Disclosure for Oil and Gas Activities ("NI 51-101"). 


A summary of the Company's reserves volumes according to reserve category as at
December 31, 2013 is as provided in the following table. Unless otherwise
stated, the reserves information included in this release is stated on a
"company interest" basis, which represents Donnybrook's working interest
(operated and non-operated) share of remaining reserves before deduction of
royalties and including any royalty interests. Numbers presented in table may
not add exactly due to rounding.




COMPANY SHARE OF REMAINING RESERVES (GROSS)                                 
                                                Natural Gas        Total Oil
                               Natural Gas          Liquids       Equivalent
Reserves Category                   (MMcf)           (Mbbl)           (Mbbl)
----------------------------------------------------------------------------
Proved                                                                      
  Producing                          2,492               33              448
  Undeveloped                        3,332              144              700
Total Proved                         5,824              177            1,148
Probable                             9,032              570            2,076
Total Proved plus Probable          14,856              747            3,223



A summary of the Company's estimated future net revenues associated with
Donnybrook's reserves as at December 31, 2013 based on the GLJ December 31, 2013
price forecast is provided in the following table. It should not be assumed that
the net present values estimated by GLJ represent the fair market value of the
reserves. Numbers presented in table may not add exactly due to rounding.




Before Income Taxes Discounted at (%/year)                                  
                                      0%       5%      10%      15%      20%
Reserves Category                   (M$)     (M$)     (M$)     (M$)     (M$)
----------------------------------------------------------------------------
Proved                                                                      
  Producing                        7,805    6,196    5,146    4,417    3,886
  Undeveloped                      7,917    4,618    2,651    1,381      511
Total Proved                      15,722   10,813    7,796    5,798    4,397
Probable                          41,069   24,296   15,917   11,110    8,069
Total Proved plus Probable        56,791   35,109   23,713   16,908   12,466



Relevant portions of the GLJ January 1, 2014 price forecast used in the
Company's evaluation are as follows:




                                                 Pentanes                   
              Natural Gas      Light Crude Oil       Plus                   
          ------------------ ------------------ ---------                   
                    AECO Gas                              Inflation Exchange
          Henry Hub    Price       WTI Edmonton  Edmonton     Rates     Rate
            ($U.S./   ($CDN/     ($US/   ($CDN/    ($CDN/       (%/    ($US/
Year         MMBtu)   MMBtu)      bbl)     bbl)      bbl)     year)    $CDN)
--------- ------------------ ------------------ ----------------------------
Forecast                                                                    
---------                                                                   
2014           4.25     4.03     97.50    92.76    105.20       2.0   0.9500
2015           4.50     4.26     97.50    97.37    107.11       2.0   0.9500
2016           4.75     4.50     97.50   100.00    107.00       2.0   0.9500
2017           5.00     4.74     97.50   100.00    107.00       2.0   0.9500
2018           5.25     4.97     97.50   100.00    107.00       2.0   0.9500
2019           5.50     5.21     97.50   100.00    107.00       2.0   0.9500
2020           5.63     5.33     98.54   100.77    107.82       2.0   0.9500
2021           5.74     5.44    100.51   102.78    109.97       2.0   0.9500
2022           5.86     5.55    102.52   104.83    112.17       2.0   0.9500
2023           5.97     5.66    104.57   106.93    114.41       2.0   0.9500
2024+      +2.0%/yr +2.0%/yr  +2.0%/yr +2.0%/yr  +2.0%/yr       2.0   0.9500



The Company currently has 195,436,066 common shares issued and outstanding, no
debt and an estimated net working capital position of approximately $3.3
million.


Donnybrook holds an interest in 21 gross sections (7.6 net sections) of
petroleum and natural gas rights at Bigstone and Fir, Alberta.


Further information relating to Donnybrook is also available on its website at
www.donnybrookenergy.ca.


ON BEHALF OF THE BOARD OF DONNYBROOK ENERGY INC.

Malcolm F. W. Todd, Chief Executive Officer

FORWARD-LOOKING STATEMENTS 

Certain information set forth in this news release contains forward-looking
statements or information ("forward-looking statements"), including statements
regarding the Company's future net revenues. By their nature, forward-looking
statements are subject to numerous risks and uncertainties, some of which are
beyond Donnybrook's control, including the impact of general economic
conditions, industry conditions, volatility of commodity prices, currency
fluctuations, imprecision of reserve estimates, environmental risks, operational
risks in exploration and development, competition from other industry
participants, the lack of availability of qualified personnel or management,
stock market volatility and the ability to access sufficient capital from
internal and external sources. Although Donnybrook believes that the
expectations in our forward-looking statements are reasonable, our
forward-looking statements have been based on factors and assumptions concerning
future events which may prove to be inaccurate. Those factors and assumptions
are based upon currently available information. Such statements are subject to
known and unknown risks, uncertainties and other factors that could influence
actual results or events and cause actual results or events to differ materially
from those stated, anticipated or implied in the forward looking information. As
such, readers are cautioned not to place undue reliance on the forward looking
information, as no assurance can be provided as to future results, levels of
activity or achievements. The risks, uncertainties, material assumptions and
other factors that could affect actual results are discussed in our Annual
Information Form and other documents available at www.sedar.com. Furthermore,
the forward-looking statements contained in this document are made as of the
date of this document and, except as required by applicable law, Donnybrook does
not undertake any obligation to publicly update or to revise any of the included
forward-looking statements, whether as a result of new information, future
events or otherwise. The forward-looking statements contained in this document
are expressly qualified by this cautionary statement. This news release shall
not constitute an offer to sell or the solicitation of any offer to buy
securities in any jurisdiction.


All evaluations and reviews of future net revenue are stated prior to any
provision for interest costs or general and administrative costs and after the
deduction of estimated future capital expenditures for wells to which reserves
have been assigned. There is no assurance that such price and cost assumptions
will be attained and variances could be material. The recovery and reserve
estimates of the reserves provided herein are estimates only and there is no
guarantee that the estimated reserves will be recovered. Actual reserves may be
greater than or less than the estimates provided herein. 


Where amounts are expressed on a barrel of oil equivalent ("BOE") basis, natural
gas volumes have been converted to oil equivalence at six thousand cubic feet
per barrel. The term BOE may be misleading, particularly if used in isolation. A
BOE conversion ratio of six thousand cubic feet per barrel is based on an energy
equivalency conversion method primarily applicable at the burner tip and does
not represent a value equivalency at the wellhead. Given that the value ratio
based on the current price of crude oil as compared to natural gas is
significantly different from the energy equivalency of 6:1, utilizing a
conversion on a 6:1 basis may be misleading as an indication of value.
References to oil in this discussion include crude oil and natural gas liquids
("NGLs"). NGLs include condensate, propane, butane and ethane. References to gas
in this discussion include natural gas.  


NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT
TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Donnybrook Energy Inc.
Malcolm Todd
President and Chief Executive Officer
(604) 684-2356
(604) 684-4265 (FAX)
www.donnybrookenergy.ca

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