2013 News

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October 28, 2013

WHITECAP RESOURCES INC. ANNOUNCES CARDIUM LIGHT OIL ACQUISITION, WORKING INTEREST CONSOLIDATION OF EAGLE LAKE VIKING UNIT AND $65 MILLION FINANCING AND PROVIDES INCREASED 2013 GUIDANCE

CALGARY, ALBERTA – Whitecap Resources Inc. (“Whitecap” or the “Company”) (TSX: WCP) is pleased to announce that it has completed the acquisition of a Cardium light oil property and a working interest consolidation of its Eagle Lake Viking unit for total consideration of $90 million (the “Acquisitions”). The Cardium acquisition ("Cardium Acquisition") adds approximately 920 boe/d (70% Oil/NGL’s) of high netback, operated production with a base production decline of 22% and includes strategic facilities at Whitecap’s existing Ferrier and Garrington areas. The Viking acquisition ("Viking Acquisition") adds approximately 100 boe/d (95% Oil/NGL’s) of high netback production with a low base production decline of 20% in Whitecap’s operated Eagle Lake Viking unit, increasing our working interest to 88.1%.

In connection with the Acquisitions, Whitecap also announces a bought deal equity financing of approximately $65 million (the “Financing”).

Click here to view the full press release.

Sustainable Growth Within Funds Flow

Whitecap Resources Inc. is an oil-weighted growth company that pays a monthly cash dividend to its shareholders.

We are focused on providing sustainable dividends and profitable per share growth enhanced by value added acquisitions.

Whitecap's common shares are traded on the Toronto Stock Exchange under the symbol WCP.

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