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Press release from Marketwire

Renegade Petroleum Ltd. Announces Grant of Options

Friday, December 21, 2012

Renegade Petroleum Ltd. Announces Grant of Options07:00 EST Friday, December 21, 2012CALGARY, ALBERTA--(Marketwire - Dec. 21, 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, further to its news release on December 17, 2012 announcing the appointment of a new independent director and board member, Renegade has granted options to purchase 100,000 common shares of the Company at an exercise price of $2.24 per share pursuant to the stock option plan of the Company.CORPORATE INFORMATIONRenegade's common shares trade on the TSX Venture Exchange under the symbol RPL. Renegade currently has approximately 202.5 million shares outstanding and 214.9 million diluted shares.FOR FURTHER INFORMATION PLEASE CONTACT: Neither 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. Contact Information: Renegade Petroleum Ltd.Michael EricksonPresident & CEO(403) 355-8922Renegade Petroleum Ltd.Alex WylieVice-President, Finance & CFO(403) 410-3376