Avatar Energy Ltd. Closes the Sale of Its Pembina Strawberry Creek Properties in Trust

Avatar Energy Ltd. ("Avatar") (TSX VENTURE:AVG) announces that, in furtherance
to its previously announced strategic review process and its press release dated
November 23, 2012, it has concurrently signed a sale agreement and closed, in
trust, the sale of its working interest in properties located in the Pembina
Strawberry Creek area to an arm's length third party (the "Purchaser") for cash
gross proceeds of approximately $1.8 million, minus adjustments (the
"Transaction"). The Transaction represents a decrease of $1.41 million in
proceeds (as compared to the expected proceeds disclosed by Avatar in its press
release dated November 23, 2012). The decrease in proceeds was negotiated in
exchange for obtaining the Purchaser's waiver of certain closing conditions.


The net proceeds from the Transaction will be used to repay indebtedness owing
under Avatar's credit facility and for general corporate purposes to the extent
allowed by its lender. A finder's fee of $42,931.33 will be paid to CB
Securities Inc. for services provided as financial advisor to the board of
directors with respect to the strategic review process.


On a post-transaction basis, Avatar will continue to be listed on the TSXV and
will focus on identifying oil prone properties for acquisition and exploitation
utilizing horizontal drilling techniques and enhanced completion procedures.


FORWARD LOOKING STATEMENTS

This press release contains forward looking statements. More particularly, this
press release contains statements concerning the completion of the use of
proceeds from the Transaction. Although the Corporation believes that the
expectations reflected in these forward looking statements are reasonable, undue
reliance should not be placed on them because the Corporation can give no
assurance that they will prove to be correct. Since forward looking statements
address future events and conditions, by their very nature they involve inherent
risks and uncertainties. The risks to which the Corporation is subject include,
but are not limited to, operational risks inherent in the exploration,
development and production of oil and gas; availability of financing; general
economic conditions and changes in the capital markets; volatility of oil and
gas prices; competition; and changes in legislation and the regulatory
environment. The forward looking statements contained in this press release are
made as of the date hereof and the Corporation undertakes no obligations to
update publicly or revise any forward looking statements or information, whether
as a result of new information, future events or otherwise, unless required by
applicable securities laws.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Avatar Energy Ltd.
Mr. Alan D. Jack, P. Eng
President & Chief Executive Officer
(403) 517-8818


Avatar Energy Ltd.
Ms. Lorie J. Hynes, CA
Chief Financial Officer
(403) 517-8818

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