RedWater Energy Corp. has signed a Joint Venture Drilling Agreement with a private resource focused company located in Toronto Ontario (the "Joint Venture Partner"). Initially the Joint Venture Partner will participate in a two well Mannville light oil drilling program at Redwater. The Company, pursuant to the Joint Venture Drilling Agreement, will be the project operator on all wells. The first well was spudded March 8, 2013 with the second location to spud the following week. Completion of this transaction is subject to TSX Venture Exchange approval.

Mr. Gary Waters, Chairman and President of RedWater states, "We are pleased to announce our joint venture agreement to pursue development of our high quality oil prospects. This Joint Venture allows RedWater to accelerate the development of its light oil drilling prospects in the Redwater Area."

Tags: RedWater Energy Corp.