Border Announces Exploration Results and CEE Expenditure Status

CALGARY, ALBERTA–(Marketwired – Jan. 20, 2014) – Border Petroleum Corp. (“Border” or the “Corporation“) (TSX VENTURE:BOR) is pleased to announce results of the drilling and completion operations that utilized its remaining CEE obligations. Border participated in the drilling of one well (100% WI) and two well completions (100% and 30% WI) which are described in more detail below.

Wilrich Zone Completion at Tomahawk, Central Alberta

Border incurred 100% of the cost to complete the Wilrich zone in a vertical well located at LSD 1-20-52-7W5 in the Tomahawk area of Central Alberta. Results exceeded expectations in that during 130 hours of clean-up after fracture stimulation, flow increased to a relatively stable rate of 30.5 M3/d (1,080 mcf/d).

Border earned a 60% working interest in the section of land (640 acres) on which the well is located.

Test Well at Conrad Property, SE Alberta

Border incurred 100% of the drilling costs of a well located at LSD 3-32-5-15W4 in the Conrad area of south eastern Alberta. The well was drilled as a vertical strat test that was subsequently sidetracked for use as a future Sawtooth horizontal well.

Border earned a 60% working interest in the target zone on the quarter section of land on which the well was drilled.

Cutbank Zone Completion at Montgomery, Southwestern Alberta

Border incurred 30% of the cost to complete the Cutbank zone in a vertical well located at LSD 1-16-12-29 W4 in the Montgomery area of south western Alberta. The well stabilized at a rate of approximately 13.0 M3/d (450mcf/d).

Border earned a 30% working interest in the completed well.

CEE Expenditures

As a result of the expenditures described above, Border was able to meet the CEE expenditure commitments related to the flow through agreements entered into in September 2012.

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