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Press release from Marketwire

Renegade Petroleum Ltd. Announces Grant of Options

Monday, September 24, 2012

Renegade Petroleum Ltd. Announces Grant of Options07:00 EDT Monday, September 24, 2012CALGARY, ALBERTA--(Marketwire - Sept. 24, 2012) -THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR TO ANY UNITED STATES NEWS SERVICES.Renegade Petroleum Ltd. ("Renegade" or the "Company") (TSX VENTURE:RPL) is pleased to announce that, in accordance with its annual option granting procedures and recent new hires, it has granted options to purchase 3,000,300 common shares of the Company at an exercise price of $2.86 per share pursuant to the stock option plan of the Company. The grant included options granted to directors and officers to purchase an aggregate of 1,437,800 common shares. Of this amount, a total of 772,800 options were granted to the new officers and directors of the Company.CORPORATE INFORMATIONRenegade's common shares trade on the TSX Venture Exchange under the symbol RPL. Renegade currently has approximately 89.6 million shares outstanding and 101.1 million diluted shares. FOR FURTHER INFORMATION PLEASE CONTACT: Michael EricksonRenegade Petroleum Ltd.President & CEO(403) 355-8922ORAlex WylieRenegade Petroleum Ltd.Vice-President, Finance & CFO(403) 410-3376Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.