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Lone Pine Resources Announces Financial And Operations Update, Second Half 2011 Guidance And Executive Appointments

Stocks in this article: LPR

Ed Bereznicki has joined Lone Pine as Executive Vice President & Chief Financial Officer. Mr. Bereznicki has over 22 years of capital markets and industry experience and joins Lone Pine from Raymond James Ltd. where he most recently held the position of Managing Director, Investment Banking. Mr. Bereznicki has extensive oil and gas capital markets and transaction experience and has been actively involved in numerous mergers & acquisitions, public and private equity and debt financings and in providing general corporate finance advice to a wide array of domestic and international oil & gas clients. Mr. Bereznicki holds a Bachelor of Science Degree in Civil Engineering from the University of Alberta and a Masters of Business Administration from the Ivey School of Business at the University of Western Ontario. Mr. Bereznicki is a Professional Engineer and a member of APEGGA.

Shane Abel has joined the Company as Vice President, Finance & Treasurer. Mr. Abel joins Lone Pine following an eight year career at BMO Capital Markets where he most recently held the position of Vice President, Investment & Corporate Banking. Mr. Abel holds a Bachelor of Commerce from the University of Saskatchewan and is a CFA Charterholder.

David M. Anderson, President and CEO, stated, “I want to welcome Ed and Shane to the Lone Pine team in the finance group. Their past experience in the financial markets will provide a sophisticated level of financial expertise to complement our strong operational team already in place at Lone Pine.”

Upcoming Investor Events

David M. Anderson, President and CEO, will be presenting at two upcoming investor conferences. Mr. Anderson will present at the TD Securities 2011 Calgary Unconventional Energy Conference in Calgary, Alberta on Thursday, July 7, 2011 at 9:55am Mountain Time and at the RBC Capital Markets Stampede Energy Roundtable in Calgary, Alberta on Tuesday, July 12, 2011 at 10:45am Mountain Time. Presentations from each of these conferences will be posted on Lone Pine's website at www.lonepineresources.com prior to each event.

FORWARD-LOOKING STATEMENTS

This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and Canadian securities laws. All statements, other than statements of historical facts, that address activities that Lone Pine assumes, plans, expects, believes, projects, estimates or anticipates (and other similar expressions) will, should or may occur in the future are forward-looking statements. The forward-looking statements provided in this press release are based on management's current belief, based on currently available information, as to the outcome and timing of future events. Lone Pine cautions that future natural gas and liquids production, revenues, cash flows, liquidity, plans for future operations, expenses, outlook for oil and natural gas prices, timing of capital expenditures, and other forward-looking statements relating to Lone Pine are subject to all of the risks and uncertainties normally incident to their exploration for and development and production and sale of oil and gas.

These risks relating to Lone Pine include, but are not limited to, oil and natural gas price volatility, its access to cash flows and other sources of liquidity to fund its capital expenditures, its level of indebtedness, its ability to replace production, the impact of the current financial and economic environment on its business and financial condition, a lack of availability of, or increase in costs relating to, goods and services, environmental risks, drilling and other operating risks, regulatory changes, the uncertainty inherent in estimating future oil and gas production or reserves, and other risks as described in reports that Lone Pine files with the SEC and with Canadian securities regulators. Any of these factors could cause Lone Pine's actual results and plans to differ materially from those in the forward-looking statements.

Lone Pine Resources Inc. is engaged in the exploration and development of natural gas and liquids in Canada. Lone Pine's principal reserves, producing properties, and exploration prospects are located in Canada in the provinces of Alberta, British Columbia, and Quebec and the Northwest Territories.

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