Calgary, Alberta (FSCwire) - Standard Exploration Ltd. ("Standard" or the "Corporation") (TSX Venture: SDE) announces it has filed its audited financial statements for the years ended December 31, 2014 and 2013, as well as the related Management’s Discussion and Analysis and Statement of Reserves Data and Other Oil and Gas Information. The Corporation's public filings may be found at www.sedar.com.

Standard also announces that further to its press release dated December 15, 2014, the Corporation is providing an update with respect to operations relating to the Farm-in Agreement with a large oil company.  The Farm-in Lands are located in southern Alberta in Townships 1 & 2, Ranges 18 & 19 W4M and the prospective zone is the lower Mississippian at depths ranging up to 1,400 metres. Last fall Standard conducted a 3-D seismic survey over a portion of the Farm-in lands.  Based on geologic mapping and a thorough interpretation of the 3-D seismic data, Standard entered into a program to drill two wells in the first quarter of 2015. The first well at 13-10-1-18W4M was drilled, cored, and logged as a vertical stratigraphic test. Further work, including the drilling of a lateral leg, is deferred for now. The second well, with a surface location at 4-1-2-19W4M, was drilled vertically, cored, and logged. Subsequently, a lateral leg of approximately 500 meters was drilled from the wellbore to a bottom-hole location at 5-1-2-19W4 and cased. Standard plans to complete this horizontal leg later this year when seasonal surface restrictions allow.  The Farm-in Lands are located 15 kilometres southwest of the Ferguson Oil Field currently being developed in the Lower Mississippian.

FOR FURTHER INFORMATION PLEASE CONTACT:

Standard Exploration Ltd.

Tom MacKay, CEO or Vince Ghazar, CFO

Office: (403) 262-4450

www.standardexploration.com

The Corporation is a Canadian based oil and gas corporation with operations in Alberta, Canada and is traded on TSX Venture Exchange.  The Corporation's public filings may be found at www.sedar.com.

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.

This news release may contain certain forward-looking information and statements, including without limitation, statements pertaining to the operations on the Farmout Lands.  All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties.  There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information.  A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the Corporation's disclosure documents on the SEDAR website at www.sedar.com.  The Corporation does not undertake to update any forward-looking information except in accordance with applicable securities laws.

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