FairWest Energy Announces Private Placement of Series 3, Convertible Debentures

FairWest Energy Corporation (TSX VENTURE:FEC) ("FairWest" or the "Company")
announces that, subject to regulatory and TSX Venture Exchange approval, it is
proceeding with a private placement (the "Private Placement") of up to
$5,000,000 of Series 3, 10% Secured, Subordinated, Convertible, Redeemable
Debentures (the "Debentures"). Each Debenture will be priced at $1,000 and will
be convertible into Common Shares at a price of $0.10 per share until December
31, 2016. The proceeds from the sale of the Debentures will to be used to pay
Series 1, 14% Secured, Subordinated, Convertible, Redeemable Debentures ("Series
1") on maturity and to redeem Series 2, 14% Secured, Subordinated, Convertible,
Redeemable Debentures ("Series 2") and other general corporate purposes. The
Company may pay Finder's Fees of up to 8% cash; however no Finder's Fees will be
paid for subscriptions received from related parties, insiders and holders of
Series 1 or Series 2 debentures who elect to participate in the Private
Placement. Insiders may participate in the Private Placement for up to
$3,300,000 of Debentures. The first closing of the Private Placement is expected
to take place on November 27, 2012 followed by a final closing on December 7,
2012. All securities issued pursuant to the Private Placement will be subject to
a four month hold pursuant to applicable securities legislation.


About FairWest Energy 

FairWest (TSX VENTURE:FEC) is a Calgary, Alberta based junior oil and gas
company engaged in the acquisition, exploration, development and production of
crude oil, natural gas and natural gas liquids in the provinces of Alberta and
Saskatchewan. 


READER ADVISORY

This news release may contain certain forward-looking statements, including
management's assessment of future plans and operations that involve substantial
known and unknown risks and uncertainties, certain of which are beyond the
Company's control. Such risks and uncertainties include, without limitation,
risks associated with oil and gas exploration, development, exploitation,
production, marketing and transportation, loss of markets, volatility of
commodity prices, currency fluctuations, imprecision of reserve estimates,
environmental risks, competition from other producers, inability to retain
drilling rigs and other services, delays resulting from or inability to obtain
required regulatory approvals and ability to access sufficient capital from
internal and external sources, the impact of general economic conditions in
Canada, the United States and overseas, industry conditions, changes in laws and
regulations (including the adoption of new environmental laws and regulations)
and changes in how they are interpreted and enforced, increased competition, the
lack of availability of qualified personnel or management, fluctuations in
foreign exchange or interest rates, stock market volatility and market
valuations of companies with respect to announced transactions and the final
valuations thereof and obtaining required approvals of regulatory authorities.
The Company's actual results, performance or achievements could differ
materially from those expressed in, or implied by, these forward-looking
statements and, accordingly, no assurances can be given that any of the events
anticipated by the forward-looking statements will transpire or occur, or if any
of them do so, what benefits, including the amount of proceeds, that the Company
will derive therefrom. Readers are cautioned that the foregoing list of factors
is not exhaustive. All subsequent forward-looking statements, whether written or
oral, attributable to the Company or persons acting on its behalf are expressly
qualified in their entirety by these cautionary statements. Furthermore, the
forward-looking statements contained in this news release are made as at the
date of this news release and the Company does not undertake any obligation to
update publicly or to revise any of the included forward-looking statements,
whether as a result of new information, future events or otherwise, except as
may be required by applicable securities laws.


319,654,775 Common Shares Issued

FOR FURTHER INFORMATION PLEASE CONTACT: 
FairWest Energy Corporation
Vern Fauth
Chief Executive Officer
403-440-3551
[e-mail]


FairWest Energy Corporation
Douglas O. McNichol
President and Chief Operating Officer
403-440-3552
[e-mail]


FairWest Energy Corporation
Marion D. Mackie
Chief Financial Officer
403-440-3556
[e-mail]


FairWest Energy Corporation
[phone]
[phone] (FAX)