Eaglewood Energy Inc. Announces Completion of Acquisition by Transform Exploration Pty Ltd.

Eaglewood Energy Inc. (TSX VENTURE:EWD) ("Eaglewood") announces the completion
of Transform Exploration Pty Ltd.'s ("Transform") previously announced
acquisition of all of the outstanding Eaglewood common shares pursuant to an
arrangement under the Business Corporations Act (Alberta) (the "Arrangement").
Under the Arrangement, which was approved by Eaglewood shareholders on July 8,
2014, Eaglewood shareholders received $0.38 cash (the "Cash Consideration") for
each Eaglewood common share. It is anticipated that the Eaglewood common shares
will be delisted from trading on the TSX Venture Exchange within two business
days from the date hereof. 


FirstEnergy Capital Corp. acted as exclusive financial advisor to Eaglewood with
respect to the Arrangement.


Eaglewood shareholders who have not already done so should submit their
certificates representing Eaglewood common shares to Valiant Trust Company, the
depositary pursuant to the Arrangement, together with applicable letters of
transmittal in accordance with the instructions set out therein in order to
receive the Cash Consideration that they are entitled to receive pursuant to the
Arrangement. Letters of transmittal were previously sent to Eaglewood
shareholders and additional copies may be obtained by contacting Valiant Trust
Company by telephone at 1-866-313-1872 or by email at
[e-mail].


About Transform Exploration Pty Ltd.

Transform is a private, independent international oil and gas exploration
company focused on the Australasian and South-East Asian regions.


Forward-Looking Information

This news release contains forward-looking information that involves known and
unknown risks and uncertainties, most of which are beyond Transform's control,
including, without limitation, those listed under "Risk Factors" and
"Forward-Looking Statements" in Eaglewood's information circular distributed in
connection with the Arrangement. Forward-looking information in this news
release includes, but is not limited to, information concerning the anticipated
date of delisting of Eaglewood's common shares from the TSX Venture Exchange.
Should one or more of these risks or uncertainties materialize, or should
assumptions underlying the forward-looking information prove incorrect, actual
results, performance or achievements could vary materially from those expressed
or implied by the forward-looking information. Accordingly, undue reliance
should not be placed on this forward-looking information. This forward-looking
information is made as of the date of this release and, other than as required
by applicable securities laws, Transform does not assume any obligation to
update or revise it to reflect new events or circumstances. The forward-looking
information contained in this news release is expressly qualified by this
cautionary statement.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Transform Exploration Pty Ltd.
Andrew Burt
Executive Director
[phone]
[e-mail]
www.transformex.com.au