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Crest Petroleum Corp. Announces Appointment of New President and Chief Executive Officer

Management Changes

Suite 800 - 1199 West Hastings Street Vancouver, British Columbia V6E 3T5

Crest Petroleum Corp. Announces Appointment of New President and Chief Executive Officer

October 15, 2013 – Vancouver, British Columbia – Crest Petroleum Corp. (CTP.P – TSX Venture). Crest Petroleum Corp. (“Crest” or the “Company”) is pleased to announce that Mr. Toby Pierce, a Director of the Company, has been appointed as the Company’s new President and Chief Executive Officer on the resignation of Mr. Adam Cegielski. Mr. Cegielski has tendered his resignation as the Chief Executive Officer of the Company due to time constraints; however, Mr. Cegielski will remain as a member of the Company’s Board of Directors.

Crest would like to thank Mr. Cegielski for his contributions to the Company during his tenure as an officer. The Company wishes him the very best in his future endeavours.

About Crest Petroleum Corp.:

Crest Petroleum Corp. (CTP.P – TSX Venture) is a Capital Pool Company (“CPC”) within the meaning of the TSX Venture Exchange (the “Exchange”). The Company based in Vancouver, BC is currently focused on identifying and evaluating businesses and assets with a view to completing a “Qualifying Transaction” under the Exchange’s CPC policies and currently has no assets other than cash.

On behalf of the Board of Directors,

Toby Pierce

President, Chief Executive Officer and Director

Email: [email protected] or Telephone: +44 751 713 1747.

For further information about Crest Petroleum Corp. or this news release, please visit our website at www.crestpetroleum.com or review the Company’s documentation filed on SEDAR at www.sedar.com

Neither the TSX Venture Exchange Inc. 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.

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