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Press release from Marketwire

Hyperion Exploration Corp. Announces Issuance of Options

Wednesday, August 22, 2012

Hyperion Exploration Corp. Announces Issuance of Options07:30 EDT Wednesday, August 22, 2012CALGARY, ALBERTA--(Marketwire - Aug. 22, 2012) - Hyperion Exploration Corp. ("Hyperion" or the "Company") (TSX VENTURE:HYX) Hyperion announces that it granted options on August 22, 2012 to acquire up to 664,000 Common Shares of Hyperion, 430,000 of which were granted to directors and officers of Hyperion. Each grant of options is for a five year term, expiring on August 22, 2017.The options vest over three years (1/3 on each of the first, second and third anniversary of the grant date). The options are exercisable at a price of $0.58 per Common Share. There are now options outstanding to purchase a total of 4,833,626 Common Shares of Hyperion, or approximately 8.9% of Hyperion's issued and outstanding Common Shares. Forward Looking and Cautionary StatementsThis press release contains certain forward-looking statements (forecasts) under applicable securities laws relating to future events or future performance. Forward-looking statements are necessarily based upon assumptions and judgements with respect to the future including, but not limited to, the outlook for commodity markets and capital markets, the performance of producing wells and reservoirs, well development and operating performance, general economic and business conditions, weather, the regulatory and legal environment and other risks associated with oil and gas operations. In some cases, forward-looking statements can be identified by terminology such as "may", "will", "should", "expect", "projects", "plans", "anticipates" and similar expressions. These statements represent management's expectations or beliefs concerning, among other things, future operating results and various components thereof affecting the economic performance of Hyperion. Undue reliance should not be placed on these forward-looking statements which are based upon management's assumptions and are subject to known and unknown risks and uncertainties, including the business risks discussed above, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Accordingly, readers are cautioned that events or circumstances could cause results to differ materially from those predicted.In the interest of providing Hyperion shareholders and potential investors with information regarding the Corporation, including management's assessment of Hyperion's future plans and operation, certain statements throughout this press release constitute forward looking statements. All forward-looking statements are based on the Corporation's beliefs and assumptions based on information available at the time the assumption was made. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and similar expressions are intended to identify forward looking statements. By its nature, such forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward looking statements. Hyperion believes the expectations reflected in those forward looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward looking statements contained throughout this press release should not be unduly relied upon. These statements speak only as of the date specified in the statements. In particular, this press release may contain forward looking statements pertaining to the following:the performance characteristics of the Corporation's oil and natural gas properties; oil and natural gas production levels; capital expenditure programs; the quantity of the Corporation's oil and natural gas reserves and anticipated future cash flows from such reserves;projections of commodity prices and costs;supply and demand for oil and natural gas; expectations regarding the ability to raise capital and to continually add to reserves through acquisitions and development; andtreatment under governmental regulatory regimes. The material assumptions in making these forward-looking statements include certain assumptions disclosed in the Corporation's most recent management's discussion and analysis included in the material available on this press release.The Corporation's actual results could differ materially from those anticipated in the forward looking statements contained throughout this press release as a result of the material risk factors set forth below, and elsewhere in this press release:volatility in market prices for oil and natural gas;liabilities inherent in oil and natural gas operations; uncertainties associated with estimating oil and natural gas reserves; competition for, among other things, capital, acquisitions of reserves, undeveloped lands and skilled personnel; incorrect assessments of the value of acquisitions and exploration and development programs; geological, technical, drilling and processing problems; fluctuations in foreign exchange or interest rates and stock market volatility; failure to realize the anticipated benefits of acquisitions; general business and market conditions; andchanges in income tax laws or changes in tax laws and incentive programs relating to the oil and gas industry.These factors should not be construed as exhaustive. Unless required by law, Hyperion does not undertake any obligation to publicly update or revise any forward looking statements, whether as a result of new information, future events or otherwise.Total Petroleum Initially-in-Place ("TPIIP") - is defined in the Canadian Oil and Gas Evaluation Handbook ("COGEH") as the quantity of petroleum that is estimated to exist originally in naturally occurring accumulations. TPIIP includes that quantity of petroleum that is estimated, as of a given date, to be contained in known accumulations, prior to production, plus those estimated quantities in accumulations yet to be discovered. There is no certainty that it will be economically viable or technically feasible to produce any portion of this TPIIP except for those portions identified as proved or probable reserves.Barrels of oil equivalent (boe) may be misleading, particularly if used in isolation. A boe conversion ratio of six thousand cubic feet (mcf) of natural gas to one barrel (bbl) of oil is based on an energy conversion method primarily applicable at the burner tip and is not intended to represent a value equivalency at the wellhead. All boe conversions in this press release are derived by converting natural gas to oil in the ratio of six thousand cubic feet of natural gas to one barrel of oil. Certain financial amounts are presented on a per boe basis, such measurements may not be consistent with those used by other companies. Estimated values contained in this press release do not represent fair market value.FOR FURTHER INFORMATION PLEASE CONTACT: Trevor SpagrudHyperion Exploration Corp.President and CEO(403) 930-0701tspagrud@hyperionexploration.comORDoug BaileyHyperion Exploration Corp.CFO(403) 930-0703dbailey@hyperionexploration.comORSuite 2010, Calgary Place IIHyperion Exploration Corp.355 - 4th Avenue SWCalgary, AlbertaT2P 0J1Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.