Eaglewood Announces Start of the PPL 259 Drimgas Seismic Programme

Eaglewood Energy Inc.  (the "Corporation") (TSX VENTURE:EWD) is pleased to
announce the start of a new 2D seismic survey over Petroleum Prospecting License
259 in Papua New Guinea, in support of selecting a drilling location in 2013.


The Corporation will initially carry out a 63 line km shoot over the western
portion of the licence area, primarily focussed on high-grading the Nama and
Malisa Leads delineated by seismic acquired in April 2012, as well as an
exploration line over the Ekelesia Lead. A second phase of seismic data
acquisition will be considered following the analysis of results from this first
phase.


The first phase of the survey will take approximately three months, with
interpreted results available by February 2013. The Corporation anticipates that
results from the contingent second phase would be available by April 2013. The
PPL 259 joint venture is scheduled to begin work commitment drilling operations
in the licence next year.


Forward-Looking Statements

Certain statements contained in this press release, such as statements relating
to the program duration and expected timing of drilling operations and results
from seismic data acquisition,, may constitute forward-looking statements. These
statements relate to future events or the Corporation's future performance. All
statements, other than statements of historical fact, may be forward-looking
statements. These statements involve known and unknown risks, uncertainties and
other factors that may cause events to differ materially from those anticipated
in such forward-looking statements. The Corporation believes that the
expectations reflected in those forward-looking statements are reasonable but no
assurance can be given that these expectations will prove to be correct and such
forward-looking statements included in this press release should not be unduly
relied upon by investors as actual results may vary. These statements speak only
as of the date of this press release and are expressly qualified, in their
entirety, by this cautionary statement.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Eaglewood Energy Inc.
Brad Hurtubise
President and CEO
[phone]
[e-mail]


Eaglewood Energy Inc.
Diana Moes
Controller and Interim CFO
[phone]
[e-mail]