Argosy Energy provide the following operational update with respect to its operations to date in the emerging Exshaw/Bakken/Big Valley play in Southern Alberta.

Argosy's Southern Alberta Bakken prospect continues to dominate its operational activities. This press release is an operational update to Argosy's recently drilled horizontal well discussed in our February 22, 2012 press release.

After the necessary shut in time, the well pressure reflects that the well is approximately 40% over pressured and was in excess of 34mPa.

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