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MES

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Share Name Share Symbol Market Type
TSXV:MES TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Marauder Announces Completion of Resource Assessment-East Coast Basin New Zealand

05/06/2013 2:00pm

Marketwired Canada


Marauder Resources East Coast Inc. ("Marauder" or the "Company") (TSX
VENTURE:MES) is pleased to announce that AJM Deloitte has completed a Resource
Assessment on the shale oil potential of Petroleum Exploration Permit 53806
("Permit"), located in the East Coast Basin of New Zealand. Marauder's 100%
owned subsidiary, Endeavour Energy (NZ) Limited, has a 50% working interest in
the permit. The report, dated Dec 31, 2012, was completed in accordance with NI
51-101 Standards of Disclosure for Oil and Gas Activities. 


Numerous oil and gas seeps are present throughout the East Coast Basin on and
offsetting the Permit. Biomarker and isotope studies indicate that the main
oil-prone source rocks are deep marine shales known as the Waipawa and Whangai
formations. Oil taken from surface seeps in the basin is sweet, light, 50 degree
API crude and has been geochemically typed to these marine shales. The report
assigns prospective resources and gives a best estimate (P50) for Undiscovered
Petroleum Initially In Place of 4.83 billion barrels on the Permit, calculated
on 30% of the Permit acreage (2.41 billion barrels Undiscovered Petroleum
Initially In Place net to Endeavour). A copy of the entire report is available
on Marauder's website: www.marauder.ca.


The Whangai Formation is the primary unconventional target over the Permit. It
is naturally fractured, widespread throughout the Basin reaching thicknesses of
up to 600m, and is over-pressured at depth, suggesting a competent seal above
the formation. 


Recently, TAG Oil, operator of lands offsetting the Permit, drilled its first
well to evaluate the unconventional Waipawa and Whangai shales. TAG announced
that results from the Ngapaeruru-1 well indicate the presence of gas zones, or
soluble gas in oil, through a 155 m gross hydrocarbon column. Preliminary gas
ratio analysis interprets a predominantly wet gas / oil signature. TAG recovered
14 separate side wall cores from the interval and is now conducting
petrophysical evaluations to determine the most suitable completion and
production testing method for the well.


New Zealand remains highly underexplored with respect to hydrocarbon resources.
The world class exploration potential is complimented with a stable geopolitical
setting and excellent fiscal regime. Marauder believes New Zealand is an
attractive country to invest in and is currently evaluating other oil and gas
opportunities in the region.


Important Note:

Undiscovered Petroleum Initially In Place is that quantity of petroleum that is
estimated to be contained in accumulations yet to be discovered. There is no
certainty that any portion of the undiscovered petroleum will be discovered or
that it will be economically to produce if discovered.


This press release may contain forward-looking statements within the meaning of
applicable securities laws. Forward-looking statements may include estimates,
plans, anticipations, expectations, opinions, forecasts, projections, guidance
or other similar statements that are not statements of fact. Although the
Company believes that the expectations reflected in such forward-looking
statements are reasonable, it can give no assurance that such expectations will
prove to be correct. These statements are subject to certain risks and
uncertainties and may be based on assumptions that could cause actual results to
differ materially from those anticipated or implied in the forward-looking
statements. These risks include, but are not limited to: the risks associated
with the oil and gas industry (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
reserve estimates; the uncertainty of estimates and projections relating to
production, costs and expenses and health, safety and environmental risks),
commodity price and exchange rate fluctuation and uncertainties resulting from
potential delays or changes in plans with respect to exploration or development
projects or capital expenditures. The Company's forward-looking statements are
expressly qualified in their entirety by this cautionary statement. The
forward-looking statements contained in this press release are made as of the
date hereof and the Company undertakes no obligations to update publicly or
revise any forward-looking statements or information, whether as a result of new
information, future events or otherwise, unless so required by applicable
securities laws.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Marauder Resources East Coast Inc.
Robert V. Shields
+1 403 262 3907
rvs@marauder.ca

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