Esrey Announces Amendment to Farm-In Agreement in Papua New Guinea With Heritage Oil PLC

Esrey Energy Ltd. ("Esrey" or the "Company") (TSX VENTURE:EEL) is pleased to
announce that its subsidiaries, Telemu No. 18 Limited ("Telemu"), LNG Energy
(PNG) Limited and LNG Energy No. 2 Limited, have entered into an amendment to
their farm-in agreement (the "Farm-in Agreement") with wholly owned subsidiaries
of Heritage Oil Plc ("Heritage") in Papua New Guinea. In exchange for extension
of the deadline to spud the first exploration well from October 1, 2014, to
December 31, 2015, the Farm-in Agreement has been amended to provide that:




--  The Company will receive a further cash payment of US$2,500,000 within
    14 days; 
--  Heritage will now carry Telemu for 30% of the cost of a second
    exploration well (in which Telemu holds a 20% participating interest) in
    the event that a second well is drilled; and 
--  Heritage will fund 100% of any joint operating costs incurred after the
    fulfillment of its obligations under the Farm-in Agreement in respect of
    the first exploration well until the earlier of the spud of the second
    exploration well or the 180thday following the date of testing and
    suspension or abandonment of the first exploration well.



"This modification provides Esrey with additional cash and funding coverage with
which to meet future obligations and will provide Heritage with some operational
flexibility and potential cost savings to efficiently carry out the required
earn-in work program. Heritage has completed acquisition of approximately 230 km
of 2D seismic across the licenses and we look forward to continuing our
partnership with Heritage through the forthcoming drilling to be undertaken on
the PPL 319 license," commented David Nelson, President & CEO of Esrey.


About Esrey

Esrey is a Canadian exploration and development company focused on developing
oil and gas properties in Papua New Guinea, Poland, Bulgaria and the USA. In
Papua New Guinea, Esrey holds a 16.85% net interest in PPL 319, an 84.25%
interest in 3 PPLs in northern Papua New Guinea (which collectively cover
approximately 5.5 million gross acres) and a 20% net interest in PRL 13 (which
covers approximately 42,000 gross acres). Under the Farm-in Agreement Heritage
acquired an 80% interest in PPL 319 and PRL 13, subject to fulfillment of work
commitments under the Farm-in Agreement. Esrey has a 42.96% net interest in
approximately 734,000 gross acres of prospective shales in Poland together with
BNK Petroleum Inc. Esrey is operator and has a 50% net interest in approximately
360,000 gross acres of prospective shales in Poland together with San Leon
Energy. Esrey has entered into a farm-in agreement relating to 405,080 acres of
prospective argillite formation in Bulgaria with Direct Petroleum Bulgaria EOOD,
a subsidiary of TransAtlantic Petroleum Ltd. Esrey also holds a 100% working
interest (80% net revenue interest) in approximately 2,280 net mineral acres of
oil and gas leases in Daniels and Sheridan Counties located in north east
Montana as well as a 100% working interest (79% net revenue interest) in
approximately 46,700 net acres of oil and gas leases in Cascade County, in
western Montana. Esrey shares trade on the TSX Venture Exchange under the symbol
"EEL".


ESREY ENERGY LTD.

David Nelson, President & CEO

Neither 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


Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this news release constitute "forward-looking
information" as such term is used in applicable Canadian securities laws,
including information regarding the proposed debt settlement. Forward- looking
information is based on plans and estimates of management at the date the
information is provided and certain factors and assumptions of management.
Forward looking information is subject to a variety of risks and uncertainties
and other factors that could cause plans, estimates and actual results to vary
materially from those projected in such forward-looking information. Factors
that could cause the forward-looking information in this news release to change
or to be inaccurate include, but are not limited to, the risks related to
unsatisfactory results of due diligence, international operations and doing
business in foreign jurisdictions, risks associated with the oil and gas
industry and exploratory and development activities generally (e.g., operational
risks in development, exploration and production, delays or changes in plans
with respect to exploration or development projects or capital expenditures,
risks associated with equipment procurement and equipment failure), the risk of
commodity price and foreign exchange rate fluctuations, risks related to future
royalty rate changes, and risks and uncertainties associated with securing and
maintaining necessary regulatory approvals, and counterparty risk related to the
stability and viability of the Company's joint venture participants.


Shares Outstanding: 39,762,771

FOR FURTHER INFORMATION PLEASE CONTACT: 
Esrey Energy Ltd.
Investor relations
1-778-373-0103
[e-mail]
www.esreyenergy.com