Manitok Energy Inc. Announces Intention to Commence A Normal Course Issuer Bid

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES OF AMERICA.


Manitok Energy Inc. (the "Corporation" or "Manitok") (TSX VENTURE:MEI) announces
that it intends to conduct a normal course issuer bid (the "Bid") to purchase
for cancellation up to 6,777,286 common shares in the capital of Manitok
("Common Shares"), representing 10% of its Public Float (as such term is defined
under the TSX Venture Exchange Corporate Finance Manual). Manitok plans to fund
the Bid with its funds from operations and available financing under its credit
facility. The Bid will be conducted through the facilities of the TSX Venture
Exchange. Management believes that with potential acquisition values ranging
from 5 to 7 times next year's projected funds from operations, buying Common
Shares at less than 3 to 4 times next year's projected funds from operations
under the Bid is advantageous to Manitok shareholders in the longer run. It is
expected that the Bid will commence on March 17, 2014 and will continue until
March 16, 2015 or such earlier date as Manitok has purchased the maximum of
6,777,286 Common Shares. Manitok has retained Integral Wealth Securities Limited
as its broker to conduct the Bid on Manitok's behalf. 


During the Bid the Corporation will be observing the purchasing restrictions
during "black out" periods pursuant to Manitok's Share Trading Policy. Manitok
intends to implement an automatic share purchase plan with its broker to allow
it to purchase Common Shares under the Bid while in such "black out" periods. 


Under Manitok's automatic share purchase plan, Manitok's broker may purchase the
Common Shares under the Bid at any time including, without limitation when
Manitok would ordinarily not be permitted to due to regulatory restrictions or
self-imposed blackout periods, pursuant to Manitok's Share Trading Policy.
Purchases will be made by Manitok's broker based on parameters prescribed by the
policies of the TSX Venture Exchange and applicable Canadian securities laws and
the terms of the parties' written agreement. 


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 and expertise 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.


Forward-Looking Information

This press release contains forward-looking statements. More particularly, this
press release contains statements about potential purchases of Common Shares for
cancellation under the Bid, the related methods of funding as well as the timing
and extent of such purchases. These statements may constitute "forward-looking
statements" or "forward-looking information" within the meaning of applicable
securities legislation as they involve the implied assessment that the purchase
of Common Shares can be consummated in the future, at a price that will create
value for the Manitok's shareholders, based on certain estimates and
assumptions. 


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, the ability to generate sufficient funds from operations
and/or access external debt to fund the Bid, 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 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 information is based on estimates and opinions of management of
Manitok at the time the information is presented. Manitok may, as considered
necessary in the circumstances, update or revise such forward-looking
information, whether as a result of new information, future events or otherwise,
but Manitok undertakes no obligation to update or revise any forward-looking
information, except as required by applicable securities laws.


Non-GAAP Financial Measures

This press release contains references to measures used in the oil and natural
gas industry such as "funds from operations". These measures do not have any
standardized meanings prescribed by generally accepted accounting principles
("GAAP") and therefore, reported amounts may not be comparable measures reported
by other companies where similar terminology is used. These measures have been
described and presented in this press release in order to provide shareholders
and potential investors with additional information regarding Manitok's
liquidity and its ability to generate funds to finance its operations. 


Funds from operations should not be considered an alternative to, or more
meaningful than, cash provided by operating, investing and financing activities
or net earnings as determined in accordance with GAAP, as an indicator of
Manitok's performance or liquidity. Funds from operations is used by Manitok to
evaluate operating results and Manitok's ability to generate cash flow to fund
capital expenditures and repay indebtedness. Funds from operations denotes cash
flow from operating activities as it appears on the Corporation's Statement of
Cash Flows before decommissioning expenditures and changes in non-cash operating
working capital. Funds from operations is also derived from net income (loss)
plus non-cash items including deferred income tax expense, depletion and
depreciation expense, exploration and evaluation expense, impairment expense,
stock-based compensation expense, accretion expense, acquisition-related
expenses, unrealized gains or losses on financial instruments and gains or
losses on asset divestitures. 


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