CALGARY, ALBERTA--(Marketwire - Feb. 15, 2013) -

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

Renegade Petroleum Ltd. ("Renegade" or the "Company") (TSX VENTURE:RPL) is pleased to announce that a cash dividend in the amount of $0.019167 per share ($0.23 annualized) will be paid on March 15, 2013 to shareholders of record as of February 28, 2013. The ex-dividend date is February 26, 2013.

These dividends are designated as "eligible dividends" for Canadian income tax purposes.

CORPORATE INFORMATION

Renegade's common shares trade on the TSX Venture Exchange under the symbol "RPL". Renegade has approximately 203.1 million common shares outstanding and 212.3 million fully-diluted common shares.

Renegade is also pleased to announce that it has updated its corporate presentation which is available at www.renegadepetroleum.com.

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 Erickson

President & CEO

(403) 355-8922





Renegade Petroleum Ltd.

Alex Wylie

Vice-President, Finance & CFO

(403) 410-3376

www.renegadepetroleum.com