FairWest Obtains Extension Under CCAA and Announces Appointment of Chief Restructuring Officer

FairWest Energy Corporation ("FairWest" or the "Company") (TSX VENTURE:FEC)
announces that an Order was obtained on May 28, 2013 from the Court of Queen's
Bench of Alberta (the "Court") extending the stay of proceedings granted to
FairWest under the Companies' Creditors Arrangement Act ("CCAA") to July 3, 2013
(the "May 28 Order"). 


The May 28 Order also provides for an increase in maximum amount available under
the debtor-in-possession financing facility with Supreme Group Inc. to
$1,765,000.


FairWest also announces today that its board of directors have resigned. As a
result of the resignation of the directors, the May 28 Order grants
PricewaterhouseCoopers Inc., the court-appointed monitor of FairWest (the
"Monitor") with additional powers to, among other things, select the successful
bid from amongst the bids submitted pursuant to the Sale and Investment
Solicitation Process set out by Order of the Court dated March 19, 2013 and
oversee and direct the completion of the transaction contemplated by the
successful bid.


FairWest also announces that Doug McNichol has resigned as President and Chief
Operating Officer of FairWest. FairWest thanks Mr. McNichol for his service and
contribution to FairWest, particularly during the CCAA proceedings and wishes
him all the best in his future endeavours. In addition, Marion Mackie has
resigned as Chief Financial Officer of FairWest, however, pursuant to the May 28
Order, Mrs. Mackie has been appointed as the Chief Restructuring Officer ("CRO")
for FairWest. The CRO is authorized to operate and carry on the business of
FairWest during the CCAA proceedings.


319,654,775 Common Shares Issued

FOR FURTHER INFORMATION PLEASE CONTACT: 
For more information, interested parties
can visit the Monitor's website at www.pwc.com/car-fec.