Shoreline Updates Corporate Guidance

CALGARY, ALBERTA–(Marketwired – Nov. 6, 2013) – Shoreline Energy Corp. (TSX:SEQ) (“Shoreline” or the “Company“) is pleased to provide updated guidance following the October 31 announced credit facility closing and ATB credit facility renewal.

Production

Corporate average daily production is between 1,800 and 1,900 Boe/d combined Canadian Peace River Arch assets including its new Montney production and the Company’s Niobrara/Codell assets in the Wattenberg field of Colorado.

Hedging

For 2013, the Company has entered into fixed price gas contracts for approximately 45% of its current natural gas production with prices ranging from AECO $3.13 CAD per GJ to AECO $3.60 CAD per GJ and about 20% of its 2014 production at an average price of AECO $3.55 CAD per GJ.

Six Month Outlook

Current guidance reflects a decrease in net debt of approximately $14,000,000 over previously reported guidance. This decrease in net debt is contingent on the decision by the Company to not use debt to fund drilling and is dependent on the receipt by the Company of the anticipated proceeds from the sale of assets under the Company’s previously announced joint venture with Acceleration Resources, which is expected to close before January 31, 2014. In the event that the joint venture with Acceleration Resources is not completed, the Company’s net debt will not fully decrease in accordance with this guidance.

As production rates on the Company’s U.S. assets increases, management expects that funds from operations will begin to decrease the Company’s net debt and the Company plans to target an average debt to cash flow ratio of between 1.8 and 2.5 times for 2014.

Investor Information

Shoreline is a Calgary, Alberta based corporation engaged in the exploration, development and production of petroleum and natural gas. Shoreline offers investors a combination of value growth via lower risk development of additional oil reserves and production on its current lands and pays a quarterly dividend. The Company’s common shares are currently listed on the TSX under the trading symbol “SEQ” and its debentures under the trading symbol “SEQ.DB”. Additional information regarding Shoreline is available under the Company’s profile at www.sedar.com or at the Company’s website, www.shorelineenergy.ca.

Forward-Looking and Cautionary Statements

This news release contains forward-looking statements relating to the Corporation’s plans and other aspects of the Corporation’s anticipated future operations, strategies, financial and operating results and business opportunities. These forward-looking statements may include opinions, assumptions, estimates, management’s assessment of value, reserves, future plans and operations.

Forward-looking statements typically use words such as “will,” “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “project,” “should,” “plan,” and similar expressions suggesting future outcomes, and include statements that actions, events or conditions “may,” “would,” “could,” or “will” be taken or occur in the future. The forward-looking statements are based on various assumptions including expectations regarding the completion of the joint venture with Acceleration Resources; the Company’s net debt; increases in production rates; the success of current or future drill wells; the outlook for petroleum and natural gas prices; estimated amounts and timing of capital expenditures; estimates of future production; assumptions concerning the timing of regulatory approvals; the state of the economy and the exploration and production business; results of operations; business prospects and opportunities; future exchange and interest rates; the Corporation’s ability to obtain equipment in a timely manner to carry out development activities; and the ability of the Corporation to access capital and credit. While the Corporation considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.

Forward-looking statements are subject to a wide range of assumptions, known and unknown risks and uncertainties and other factors that contribute to the possibility that the predicted outcome will not occur, including, without limitation: risks associated with oil and gas exploration, development, exploitation, production, marketing and transportation; loss of markets; volatility of commodities prices; currency fluctuations; imprecision of reserves estimates; environmental risks; competition from other producers; inability to retain drilling rigs and other services; incorrect assessment of the value of acquisitions; failure to realize the anticipated benefits of acquisitions; general economic conditions; delays resulting from or inability to obtain required regulatory approvals and to satisfy various closing conditions; failure to meet credit facility covenants; and ability to access sufficient capital from internal and external sources. Readers are cautioned that the foregoing list of factors is not exhaustive.

Although Shoreline believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will be realized. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements and you should not rely unduly on forward-looking statements. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by applicable law, Shoreline does not undertake any obligation to publicly update or revise any forward-looking statements.

BOE Conversions

The term barrels of oil equivalent (“Boe“) may be misleading, particularly if used in isolation. Per boe amounts have been calculated using a conversion ratio of six thousand cubic feet of natural gas (6 mcf) to one barrel of oil (1 bbl). The Boe conversion ratio of 6 mcf to 1 bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Given that the value ratio based on the current price of crude oil as compared to natural gas is significantly different from the energy equivalent of 6:1, utilizing a conversion on a 6:1 basis may be misleading as an indication of value.