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Press release from CNW Group

Pinecrest Energy Inc. Announces Surrender of Options

Tuesday, July 30, 2013

Pinecrest Energy Inc. Announces Surrender of Options

17:12 EDT Tuesday, July 30, 2013

/THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR TO ANY UNITED STATES NEWS SERVICES./

TSX Venture Exchange:  PRY

CALGARY, July 30, 2013 /CNW/ - Pinecrest Energy Inc. ("Pinecrest" or the "Company") (TSX Venture: PRY) announced today that holders of an aggregate of 13,030,000 stock options of the Company ("Options") have voluntarily surrendered such Options for nominal consideration. Following the surrender of such Options, the Company has 235,000 Options outstanding pursuant to the option plan of the Company, which represents, in aggregate, approximately 0.11% of the issued and outstanding common shares of the Company ("Common Shares").

Corporate Information

Pinecrest's common shares trade on the TSX Venture Exchange under the symbol PRY.  Pinecrest currently has 217,712,365 million basic shares outstanding.

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.

SOURCE Pinecrest Energy Inc.

For further information:

Pinecrest Energy Inc.

500, 255 - 5 Avenue SW
Calgary, Alberta  T2P 3G6

Wade Becker, President and CEO

or

Dan Toews, Vice President, Finance and CFO

Tel: (403) 817-2550 or
Fax: (403) 817-2599

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