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Dundee Energy Limited Announces Delay in Cushion Cash Injection for Castor Project

October 02, 2013

TORONTO, ONTARIO--(Marketwired - Oct. 2, 2013) - Dundee Energy Limited ("Dundee Energy" or the "Corporation") (TSX:DEN) has been advised that, as a result of seismic activity near the Castor Project, the Spanish authorities have temporarily postponed further injection of cushion gas to the Castor Project. The Corporation will advise further when the Spanish authorities agree to continue the program of injecting additional cushion gas.

The Castor Project is a wholly owned project of Escal UGS SL ("Escal"). Dundee Energy holds an indirect 24.6% interest in Escal, through its 73.7% interest in Castor UGS Limited Partnership.

ABOUT THE CORPORATION

Dundee Energy Limited is a Canadian-based oil and natural gas company with a mandate to create long-term value for its shareholders through the exploration, development, production and marketing of oil and natural gas, and through other high impact energy projects. Dundee Energy holds the largest accumulation of producing oil and gas assets in Ontario, and indirectly holds a 24.6% interest in the Castor offshore underground natural gas storage facility in Spain. The Corporation's common shares trade on the Toronto Stock Exchange under the symbol "DEN".

FORWARD-LOOKING STATEMENTS

Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Corporation's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits the Corporation will derive from them. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

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