Manitok Energy Inc. Announces Cordel-Stolberg and Entice Drilling Results

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Manitok Energy Inc. (the "Corporation" or "Manitok") (TSX VENTURE:MEI) is
pleased to provide an update to the Corporation's 2014 drilling program in the
Cordel-Stolberg and Entice areas.


Cordel-Stolberg

Manitok is pleased to announce that it has successfully drilled, completed and
tested its latest two wells. The first well (the "Cardium Well") targeted
Cardium oil in the back-limb of the Stolberg structure in the center of the
field. The Cardium Well is the first well of a 3 to 4 well pad in which Manitok
has a 30% working interest. The Cardium Well encountered a fractured reservoir
which is consistent with the most productive wells in both the north and south
ends of the field and is encouraging for the remaining locations that Manitok
has on the backlimb of the structure. During the final 11 hours of the 38 hour
test, the well flowed on its own and production averaged approximately 1,020
bbls/d (306 bbls/d net) of 43 degrees API oil and 500 mcf/d (150 mcf/d net) of
natural gas for a total of 1,103 boe/d (331 boe/d net). Upon termination of the
test, the drill rig was moved to the next Cardium location on the same pad site.
It is expected that the Cardium Well will be tied-in to facilities in early
September 2014, after Manitok has completed drilling the remaining 2 to 3 wells
on the pad.


The second well (the "Mannville Well") is a horizontal natural gas well
targeting a formation in the Mannville group. Manitok has a 75% working interest
in the Mannville Well. The Mannville Well was flow tested for 48 hours and over
the last 24 hours flowed at a stabilized rate of approximately 12 Mmcf/d (9
Mmcf/d net) with 15 bbls/Mmcf (11 bbls/Mmcf net) of 54 degrees API condensate
for a total of 2,180 boe/d (1,635 boe/d net). Manitok expects the Mannville Well
to be tied-in to facilities and producing in early July 2014. Currently, Manitok
has two offset locations and is completing additional work to further develop
the play at Stolberg. Based on the information to date, Manitok intends to drill
at least one follow-up Mannville well by the fourth quarter of 2014. The drill
rig has moved to a pad, which is between the Cardium Well and Manitok's current
production at the south end of the field. Manitok has commenced drilling the
first of up to 3 Cardium oil wells on the pad.


Entice

To date, Manitok has successfully drilled and cased a total of 4 vertical wells
and 1 horizontal well in the Entice area, with a 100% working interest. In an
effort to test multiple hydrocarbon bearing formations on the northern portion
of the land base, these wells were spaced across 4 of the 9 townships acquired
under the Lease Issuance and Drilling Commitment Agreement between the
Corporation and Encana Corporation ("Encana") (for additional details, please
see the Corporation's press release dated October 21, 2013, a copy of which is
available under the Corporation profile on SEDAR at www.sedar.com), which
townships are currently held by PrairieSky Royalty Ltd., a spinoff company of
Encana. All of the vertical wells encountered multiple pay zones while the
horizontal well targeted the Basal Quartz ("BQ") formation.


The primary target for 2 of the 5 wells was the BQ. The first vertical BQ well
(6-16-28-24W4), encountered multiple zones including the Viking, Ellerslie and
BQ. The BQ was fracture stimulated and placed on production on May 12, 2014. To
date, the well has averaged approximately 18 boe/d, with 13 bbls/d of 38 degrees
API oil. The rate has stayed consistent over the period demonstrating the
potential for increased deliverability from a horizontal well. Manitok was
successful in proving that the BQ is capable of oil production in this area. An
analysis conducted by Manitok on a BQ pool to the east of this discovered pool
indicates that the multiplier effect of a horizontal well to a nearby vertical
well ranged up to 25 times the vertical well production rate. This is consistent
with Manitok's belief that the reservoir quality is variable within the pool and
a horizontal well is the most effective way to intersect as much good quality
reservoir as possible to deliver the highest potential production rates. Manitok
intends to drill 2 horizontal wells offsetting this discovery well over the
remainder of 2014 to further prove the play. Once proven, there are up to 25
additional locations on this trend. The Viking and Ellerslie opportunities will
also be evaluated for future development.


The second horizontal BQ well (4-21-25-24W4), targeted a middle BQ zone and the
completion consisted of a 9 stage frac. The well flowed over 70 hours with final
rates averaging 1.5 Mmcf/d and 11 bbls/Mmcf of 25 degrees API oil for a total of
266 boe/d, during the final 12 hours of the test. Manitok's intent is to follow
up with one horizontal well targeting the middle BQ zone later in 2014 and
management believes there are potentially 5 additional locations in this pool.
Accelerated development of this middle BQ zone is dependent on the outlook for
natural gas prices. Manitok is also planning 2 horizontal wells in the same
vicinity to test a Lithic Glauconitic ("Glauc") channel for oil. Once Manitok
has an understanding of the production capability of both pools in the area,
Manitok will plan it's tie-in to facilities accordingly. Manitok is also
evaluating both a Viking and upper Mannville zone which were intersected by this
well.


Two of the 5 wells were drilled primarily targeting the Lithic Glauc zone
(8-2-28-25W4 and 11-36-28-24W4). Manitok believes both wells have multiple
opportunities including the Viking, Regional Glauc, and Pekisko formations which
will be evaluated further for future development potential. The completion of
these 2 wells is on-going as delays have been encountered due to wet weather,
which has hampered the movement of heavy equipment. Manitok will continue to
work towards evaluating these wells given the weather conditions and will
provide information as soon as is appropriate.


The fifth well of the 5 well program (3-12-28-23W4) targeted the Nisku
formation, which was unsuccessful. However, information received in drilling
this well will aid Manitok in determining future Nisku locations and potential
for Viking and Pekisko opportunities is still under evaluation.


The next stage of drilling for the Entice area will primarily be targeting
horizontal opportunities based on the exploration wells drilled to date as well
as new leads in both the southern and central portion of the land block. They
include immediately following up on the BQ opportunities described above with 3
horizontal drilling locations. There are also 2 to 3 horizontal wells planned
pending the successful completion of the two Lithic Glauc vertical wells that
were recently drilled and mentioned above. In addition, Manitok will drill 5
other independent horizontal opportunities, in both the BQ and Lithic Glauc
formations, that have been extensively mapped and evaluated. This program, if
successful, will open up a very large inventory of developmental drilling
opportunities in multiple pools in the Entice area.


It is anticipated that the next well at Entice will spud before the end of June
2014, as Manitok drills a horizontal Lithic Glauc well, the first of the three
planned horizontal wells in the southern region of the land block. Manitok is
evaluating the timing of adding a second drilling rig to accelerate the drilling
program in the north and central region of the land block.


Quirk Creek

The drill rig was moved in June 2014 to commence completion operations that were
suspended due to spring break-up. Manitok is expecting results from the
completion and testing in mid to late July 2014.


2014 Guidance

The 2014 guidance in essence remains unchanged from the Corporation's press
release dated February 27, 2014, a copy of which is available under Manitok's
profile on SEDAR at www.sedar.com. Total capital will remain at $115.1 million
before the asset disposition, however, Manitok will transfer the capital
intended for Quirk Creek, which was about $12.0 million, to Entice. The total
capital at Entice will increase from $23.0 million to about $35.0 million for
2014.


About Manitok

Manitok is a public oil and gas exploration and development company focusing on
conventional oil and gas reservoirs in the Canadian foothills and southeast
Alberta. The Corporation will utilize its experience to develop the untapped
conventional oil and liquids-rich natural gas pools in both the foothills and
southeast Alberta areas of the Western Canadian Sedimentary Basin.


For further information view our website at www.manitokenergy.com.

Reader Advisory

This press release contains forward-looking statements. More particularly, this
press release contains statements concerning planned exploration and development
activities, re-allocation of planned capital expenditures from one property to
another and the development and growth potential of Manitok's properties.


The forward-looking statements in this press release are based on certain key
expectations and assumptions made by Manitok, including expectations and
assumptions concerning the success of future drilling and development
activities, the performance of existing wells, the performance of new wells, the
successful application of technology, prevailing weather conditions, commodity
prices, royalty regimes and exchange rates and the availability of capital,
labour and services.


Although Manitok believes that the expectations and assumptions on which the
forward-looking statements are based are reasonable, undue reliance should not
be placed on the forward-looking statements because Manitok can give no
assurance that they will prove to be correct. Since forward-looking statements
address future events and conditions, by their very nature they involve inherent
risks and uncertainties. Actual results could differ materially from those
currently anticipated due to a number of factors and risks. These include, but
are not limited to, risks associated with the oil and gas industry in general
(e.g., operational risks in development, exploration and production; delays or
changes in plans with respect to exploration or development projects or capital
expenditures; the uncertainty of reserves estimates; the uncertainty of
estimates and projections relating to production, costs and expenses; and
health, safety and environmental risks), uncertainty as to the availability of
labour and services, commodity price and exchange rate fluctuations, unexpected
adverse weather conditions, general business, economic, competitive, political
and social uncertainties, capital market conditions and market prices for
securities and changes to existing laws and regulations. Certain of these risks
are set out in more detail in Manitok's current Annual Information Form, which
is available on Manitok's SEDAR profile at www.sedar.com.


Forward-looking statements are based on estimates and opinions of management of
Manitok at the time the statements are presented. Manitok may, as considered
necessary in the circumstances, update or revise such forward-looking
statements, whether as a result of new information, future events or otherwise,
but Manitok undertakes no obligation to update or revise any forward-looking
statements, except as required by applicable securities laws.


Any references in this press release to initial and/or final raw test or
production rates and/or "flush" production rates are useful in confirming the
presence of hydrocarbons, however, such rates are not necessarily determinative
of the rates at which such wells will commence production and decline
thereafter. Additionally, such rates may also include recovered "load oil"
fluids used in well completion stimulation. While encouraging, readers are
cautioned not to place reliance on such rates in calculating the aggregate
production for the Corporation. The initial production rate may be estimated
based on other third party estimates or limited data available at this time. In
all cases in this press release, initial production or test are not necessarily
indicative of long-term performance of the relevant well or fields or of
ultimate recovery of hydrocarbons.


Barrels of Oil Equivalent

The term barrels of oil equivalent ("boe") may be misleading, particularly if
used in isolation. Per boe amounts have been calculated using a conversion ratio
of six thousand cubic feet (6 mcf) of natural gas to one barrel (1 bbl) of crude
oil. The boe conversion ratio of 6 mcf to 1 bbl 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.


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 release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Manitok Energy Inc.
Massimo M. Geremia
President & Chief Executive Officer
403-984-1751
[e-mail]
www.manitokenergy.com