CALGARY, ALBERTA--(Marketwire - Dec. 10, 2012) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW.

Spartan Oil Corp. ("Spartan" or the "Company") (TSX:STO) has received an unsolicited offer from a third-party to acquire all of the issued and outstanding common shares of the Company. The Company's Board of Directors will consider the unsolicited offer in consultation with its legal, financial and strategic advisors and will communicate further with Spartan's shareholders in accordance with applicable securities laws.

The Company is engaged in the business of acquiring crude oil and natural gas properties and exploring for, developing and producing oil and natural gas in western Canada. Spartan is uniquely positioned with a significant position in two of the leading oil resource plays in western Canada, being the Cardium light oil play in central Alberta and the Bakken light oil resource play in southeast Saskatchewan.

FOR FURTHER INFORMATION PLEASE CONTACT:

The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this release. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction.

Contact Information:

Spartan Oil Corp.

Richard F. McHardy

President & CEO

(403) 457-4006

(403) 457-4028 (FAX)





Spartan Oil Corp.

Michelle A. Wiggins

Vice President Finance & CFO

(403) 457-4006

(403) 457-4028 (FAX)

info@spartanoil.ca

www.spartanoil.ca