Standard Exploration Ltd.- Announces Operations Update

Standard Exploration Ltd. ("Standard") (TSX VENTURE:SDE) announced on November
15, 2012 that it committed to drilling 2 wells prior to year end. The first
well, an exploration well was drilled, abandoned and rig released on November
20, 2012. The well targeting the Mannville zone encountered the reservoir but
was tight and not viable for commercial production. Total cost for the operation
was approximately $350,000 of qualified Canadian Exploration Expenditures
("CEE') of which will be applied to the flow through commitment inherited with
the Canadian Energy Exploration Inc. transaction.


Canadian Energy Exploration Inc., a wholly owned subsidiary of Standard
Exploration, met the requirements within the flow through share regulations of
the Canada Revenue Agency whereby small corporations can renounce up to
$1,000,000 of Canadian Development Expenditures ("CDE") as CEE in a given
calendar year to the participants of the flow through share offering. 


The Corporation is a Canadian based oil and gas corporation with operations in
Alberta, Canada and is traded on TSX Venture Exchange. The Corporation's public
filings may be found at www.sedar.com.


This news release is not an offer of securities for sale in the United States.
Securities may not be offered or sold in the United States or to or for the
account or benefit of U.S. persons (as such terms are defined in Regulation S
under the United States Securities Act of 1933, as amended (the "U.S. Securities
Act")), absent registration or an exemption from registration. The securities
offered have not been and will not be registered under the U.S. Securities Act
or any state securities laws and, therefore, may not be offered for sale in the
United States, except in transactions exempt from registration under the U.S.
Securities Act and applicable state securities laws.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Standard Exploration Ltd.
Ronald P. Wiebe
President & Chief Executive Officer
[phone]
[e-mail]


Macam Investor Relations
Cameron MacDonald
[phone]
[phone] (FAX)
[e-mail]
www.macamgroup.com