BOE Report

Hillcrest Announces New CFO

VANCOUVER, B.C. – January 6, 2020 – Hillcrest Petroleum Ltd. (the “Company” or “Hillcrest“) (TSXV:HRH) (OTC:HLRTF) is pleased to announce that, effective January 1, 2020, Aaron Triplett was appointed as its new Chief Financial Officer and Corporate Secretary.

Mr. Triplett is a Chartered Professional Accountant (CPA, CA), and has accumulated experience in the field of financial management and accounting, specializing in forecasting, compliance and risk management, and the development and monitoring of control systems. Most recently, Mr. Triplett served as CFO of Grande West Transportation Group Inc. (TSXV: BUS), a Canadian manufacturer of mid-sized multi-purpose transit vehicles for sale in Canada and the United States. Prior to that, Mr. Triplett served as the CFO of Angkor Resources Corp. (TSXV: ANK), a mineral exploration company in Cambodia.

Mr. Triplett takes over from Sean McGrath who has held the CFO position for the last 4 years and will remain with the Company as a special advisor.

For more information on Hillcrest Petroleum Ltd., contact Donald Currie toll free at 1-855-609-0006 or visit the Company’s website at www.hillcrestpetroleum.com.

ON BEHALF OF THE BOARD

Donald Currie

Chief Executive Officer and Director

Advisory

Neither TSX Venture Exchange nor its Regulations 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.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release in the United States. Such securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“), or any state securities laws, and, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or “U.S. Persons”, as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.