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Press release from CNW Group

Marquee Energy Announces Closing of Private Placement

Wednesday, December 19, 2012

Marquee Energy Announces Closing of Private Placement14:43 EST Wednesday, December 19, 2012CALGARY, Dec. 19, 2012 /CNW/ - Marquee Energy Ltd. ("Marquee" or the "Company") (TSXV: MQL) announced today that the Company has closed a non-brokered private placement of 1,963,238 common shares of the Company at a price of $1.05 per common share, issued on a flow-through basis pursuant to the Income Tax Act (Canada) (the Flow-Through Shares") for proceeds of $2,061,400.  The Flow-Through shares are subject to a restricted period of four months and a day, expiring on April 20th, 2013.  Certain registered dealers received a finder's fee equal to 6% of the gross proceeds from the placement of the Flow-Through Shares.The purchasers of the Flow-Through Shares will be entitled to renunciations from Marquee Energy Ltd. in an amount equal to the subscription amount effective December 31, 2012.  The gross proceeds from the offering will be used by Marquee to incur eligible Canadian Exploration Expenses on or before December 31, 2013.Additional Information about Marquee Energy Ltd. Marquee Energy Ltd. is a publicly traded Calgary-based growth oriented junior oil and gas company currently focused on high rate of return, oil and liquids rich gas production in Alberta.  Additional information about Marquee Energy Ltd. may be found in its continuous disclosure documents filed with Canadian securities regulators at www.sedar.com.Forward looking Statements or Information Certain information included in this press release constitutes forward-looking information under applicable securities legislation. Such forward-looking information is provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes, such as making investment decisions.  Forward-looking information typically contains statements with words such as "anticipate", "believe", "expect", "plan", "intend", "estimate", "propose", "project" or similar words suggesting future outcomes or statements regarding an outlook. Forward-looking information in this press release may include, but is not limited to information with respect to: the use of proceeds; exploration plans and the timing thereof. Forward-looking information is based on a number of factors and assumptions which have been used to develop such information but which may prove to be incorrect.  Although Marquee believes that the expectations reflected in such forward-looking information is reasonable, undue reliance should not be placed on forward-looking information because Marquee cannot give assurance that such expectations will prove to be correct.  In addition to other factors and assumptions which may be identified in this press release, assumptions have been made regarding and are implicit in, among other things: the ability of Marquee to secure adequate product transportation, and secure such transportation in a timely manner; the ability to obtain qualified staff, equipment and services in a timely and cost efficient manner to develop its business; the ability to operate its properties in a safe, efficient and effective manner; the ability to replace and expand oil and natural gas reserves through acquisition, development of exploration; the timing and costs of pipeline, storage and facility construction and expansion; future oil and natural gas prices; currency, exchange and interest rates; the regulatory framework regarding royalties, taxes and environmental matters; and the ability to successfully market its oil and natural gas products.  Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which have been used. Forward-looking information is based on current expectations, estimates and projections that involve a number of risks and uncertainties which could cause actual results to differ materially from those anticipated by Marquee and described in the forward-looking information.  The material risk factors affecting the Company and its business are contained in the Company's Annual Information Form which is available at SEDAR at www.sedar.com. The forward-looking information contained in this press release is made as of the date hereof and Marquee does not undertake any obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless required by applicable securities laws. The forward looking information contained in this press release is expressly qualified by this cautionary statement. Additional AdvisoriesNeither 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.SOURCE: Marquee Energy Ltd.For further information: Marquee Energy Ltd. Richard Thompson President & Chief Executive Officer  (403) 817-5561 RThompson@marquee-energy.com Roy Evans Vice President, Finance and Chief Financial Officer (403) 384-0000 REvans@marquee-energy.com  or visit the Company's website at www.marquee-energy.com