FairWest Defaults Under Debtor-In-Possession Financing

FairWest Energy Corporation ("FairWest" or the "Company") (TSX VENTURE:FEC)
announces that on September 17, 2013, Supreme Group Inc. ("SGI") served FairWest
with a demand letter and Notice of Intention to Enforce Security pursuant to
subsection 244(1) of the Bankruptcy and Insolvency Act (the "Demand Letter") in
respect of amounts owing to SGI by FairWest under the debtor-in-possession
financing provided by SGI to FairWest (the "DIP Financing"). 


SGI has provided DIP Financing to FairWest since FairWest commenced proceedings
under the Companies' Creditors Arrangement Act on December 12, 2012. On July 16,
2013, the Court of Queen's Bench of Alberta (the "Court") approved certain
amendments to the DIP Financing, including additional events of default which,
if triggered, could result in SGI withdrawing its funding from FairWest.


The DIP Financing provided that it was an event of default if, on or before
September 1, 2013, (i) the Alberta Energy Regulator (the "AER") had not
consented to the transfer of licences for the licensed wells and facilities
included in SGI's offer (the "Offer") submitted pursuant to the Sale and
Investment Solicitation Process approved by the Court on March 19, 2013 and (ii)
no order had been made by the Court on notice to the AER approving the Offer.
Consent was not obtained from the AER and no order was made by the Court by
September 1, 2013.


The Demand Letter requires FairWest to repay the amount of $1,836,510.98 plus
all additional accrued and unpaid interest, fees and costs due under the DIP
Financing. If payment or other arrangements satisfactory to SGI for payment
cannot be made, SGI will take such further steps as it deems necessary to
recover the amounts owing, which could include the appointment of a receiver
over the property, assets and undertakings of FairWest.


Neither 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 release.


319,654,775 Common Shares Issued

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