Tourmaline Oil Corp. provide the following operational update.

Highlights

• Spirit River Charlie Lake horizontal well production tests oil at 1,550 bopd

• A single 3 well Montney pad in Sunrise-Dawson production tests at 50 mmcfpd

Production

Current production is ranging between 39,000 and 40,000 boepd and the Company remains on track to achieve 2011 exit production volumes of 44,500 boepd. The Sunrise 3-18 plant expansion and the Musreau 3-18 plant are both expected to be completed and on-stream by mid-December 2011. With 51 wells to tie-in between December 1, 2011 and March 31, 2012, Tourmaline is in a strong position to meet or exceed previously upwards revised 2012 full year average production guidance of 47,000 boepd. Current oil and liquids production is averaging between 4,500 and 5,000 bopd, up from the third quarter 2011 average of 3,444 bopd. Tourmaline expects oil and liquids production to constitute approximately 20% of total Company production by Q4 2012.

Q4 EP Results

Tourmaline is pleased to announce record well results in all of its core operated areas incremental to the suite of results announced in September 2011. Tourmaline's widespread application of 3D seismic to select all drilling locations and continued improvement of completion technologies is leading to these increasingly strong well results.

Spirit River - The Company's most recent Triassic Charlie Lake horizontal, the eleventh drilled to date, tested oil at a flowing stabilized rate of 1,550 bopd with associated gas at a rate of 1.9 mmcfpd. Tourmaline is planning to have 14 horizontals drilled and completed by year end 2011. Recent ongoing vertical and horizontal delineation drilling has indicated that the Charlie Lake oil pool is significantly larger than originally mapped, Tourmaline controls this expanded pool area at 100% working interest. Spirit River will be a key focus area with the 2012 EP program.

Deep Basin Horizontal Program - Tourmaline currently has four drilling rigs drilling Deep Basin horizontals, targeting the Cretaceous Cardium, Notikewan-Falher and Wilrich formations.

Tourmaline expects to drill an additional 25 Deep Basin horizontal wells between December 2011 and Spring break-up 2012.

Tags: Tourmaline Oil Corp.