Perpetual Energy Inc. Successfully Completes Senior Note Refinancing

/NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICE/

CALGARY, June 11, 2019 /CNW/ - (TSX:PMT) – Perpetual Energy Inc. ("Perpetual" or the "Company") is pleased to announce that it has successfully completed the previously announced early redemption of all of the $14.6 million aggregate principal amount of 8.75% senior notes maturing July 23, 2019 (the "2019 Senior Notes") effective June 11, 2019 (the "Senior Note Refinancing").

Pursuant to the Senior Note Refinancing, Perpetual issued $15.7 million of 8.75% senior notes due January 23, 2022 (the "2022 Senior Notes") to fully redeem the 2019 Senior Notes.

After giving effect to the Senior Note Refinancing, there are $33.6 million 2022 Senior Notes outstanding comprised of $17.9 million 2022 Senior Notes previously outstanding and the $15.7 million 2022 Senior Notes issued as consideration to redeem the 2019 Senior Notes. Entities controlled or directed by the Company's President and Chief Executive Officer hold $22.5 million of the 2022 Senior Notes now outstanding.

ADDITIONAL INFORMATION

About Perpetual

Perpetual is an oil and natural gas exploration, production and marketing company headquartered in Calgary, Alberta. Perpetual operates a diversified asset portfolio, including liquids-rich natural gas assets in the deep basin of west central Alberta, heavy oil and shallow natural gas in eastern Alberta, with longer term opportunities through undeveloped oil sands leases in northern Alberta. Additional information on Perpetual can be accessed at www.sedar.com or from the Corporation's website at www.perpetualenergyinc.com.

The Toronto Stock Exchange has neither approved nor disapproved the information contained herein.

SOURCE Perpetual Energy Inc.

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